Hoover Daily Report
Analysis and Commentary
Analysis and Commentary

The Lessons Obama Could Learn From V-E Day

by Josef Joffevia The Wall Street Journal
Sunday, May 10, 2015

If President Obama had a sense of history, he might have thrown, in Washington, a more heartening party, to which V-E Day would serve only as prologue. Pride of place would go to the beginning of the most glorious chapter in American foreign policy, the Pax Americana that has held for 70 years and benefited not only the United States, but also the rest of the world.

Analysis and Commentary

McAndrews On Negative Nominal Rates

by John H. Cochrane via Grumpy Economist
Saturday, May 9, 2015

Many (not all) negative interest rate proposals call for the elimination of currency. Currency is dying anyway due to the great advantages of electronic transactions. I bemoaned the loss of privacy and political freedom when the NSA, the IRS, and pretty soon Twitter and the Chinese Department of Hacking have a record of everything you've ever bought or sold.

Analysis and Commentary

Trump And No Trump Bidding

by Bill Whalenvia A Day At The Races
Sunday, May 10, 2015

There was plenty to take away from this weekend’s Freedom Summit in Greenville, S.C., which featured nearly a dozen Republican presidential candidates (here’s a tick-tock of the day’s proceedings from a local publication).

Analysis and Commentary

There Is One Solution To Our Disunited Politics: A Federal Kingdom Of Britain

by Timothy Garton Ashvia The Guardian
Saturday, May 9, 2015

A shaky future in Europe and political discord in the union means the shape of this country is now at stake. But building a federal state would make regional self-determination and accountable government a greater reality

Pills
Analysis and Commentary

Rebuttal To Jeffrey Sachs On Sovaldi

by David R. Hendersonvia EconLog
Monday, May 11, 2015

This is the closing paragraph of my article "In Defense of an 'Expensive' Drug," Defining Ideas, April 30, 2015. In it, I take on Jeffrey Sachs's piece in which he criticized Gilead for charging such a high price of its drug Sovaldi.

Analysis and Commentary

Stupid-Strategy Sweepstakes: Home Depot vs. Lowe’s

by Henry I. Miller, Jeff Stiervia National Review
Monday, May 11, 2015
Both of the nation’s retail hardware behemoths, Home Depot and Lowe’s, recently sold out to activists in ways that are the corporate equivalent of a dog’s putting his tail between his legs and slinking away from a bully. Home Depot announced that by the end of this year it will stop selling vinyl flooring that contains a class of chemicals called phthalates.
Analysis and Commentary

How To Make Sense Of The Opt-Out Phenomenon

by Michael J. Petrillivia Education Next
Monday, May 11, 2015

There’s been a lot of pontificating lately about how to interpret the opt-out movement and the message parents are trying to deliver. The Wall Street Journal’s Jason Riley believes that “soccer moms” are mad at Common Core. Jay Greene, channeled by Riley, blames the diminishment of parental control. Rick Hess fingers the reformers’ social justice agenda, which is at odds with the interests of middle class suburban parents.

islam, sunset
Analysis and Commentary

The Failed Tactic of Flattering Islam Won’t Go Away

by Bruce Thorntonvia Front Page Magazine Online
Sunday, May 10, 2015

The recent attack in Texas against a “draw Mohammed” event ended up with two dead jihadis and widespread criticism of event organizer Pamela Geller. The hypocrisies and ignorance behind such criticism have been amply documented, including by some on the left. But there’s another argument against actions and events like Geller’s that needs dismantling.

Analysis and Commentary

The Single Most Consequential Political Act Since 1955

by David R. Hendersonvia EconLog
Sunday, May 10, 2015

George H.W. Bush's decision to make war on his erstwhile ally Saddam Hussein. While that war looked cheap to America at the time, one unintended consequence was the 9/11 attacks. Those, in turn, led to a dramatic increase in financial regulation, a dramatic drop in civil liberties, and a dramatic drop in the freedom to travel.

Students raising their hands
Analysis and Commentary

My Turn: New Hampshire’s Students Are Ready To Meet Higher Standards, But Are The Politicians?

by Michael J. Petrilli, Michael Brickmanvia Concord Monitor (NH)
Sunday, May 10, 2015

2015 carries special significance throughout much of the country as schools complete the transition to the Common Core standards. Right now, students statewide will take the Smarter Balanced test, a next-generation exam aligned to the new, tougher standards. This marks a critical milestone not just for Common Core but, more importantly, for the decades-long journey to improve America’s schools.

Analysis and Commentary

Russia And US Must Maintain Arctic Relations In An Interconnected World

by Commander David Slayton, Lawson W. Brigham via Alaska Dispatch News
Sunday, May 10, 2015

Russia is in the news, again. NATO ministers continue to discuss how to upgrade their response capabilities to contain Russia, an increasingly unpredictable neighbor, and Pentagon officials advise Congress that Russia is a primary military threat. Could this finally be the end of strong Russia-U.S. cooperation in the one region where our interests have aligned since the end of the Cold War: the Arctic?

Analysis and Commentary

Lawfare Research Paper Series: An Essay On Domestic Surveillance By Philip B. Heymann

by Kenneth Andersonvia Lawfare
Sunday, May 10, 2015

Lawfare is pleased to announce the publication of a new — and timely — paper in the Lawfare Research Paper Series: An Essay on Domestic Surveillance, by Philip B. Heymann, law professor at Harvard Law School and former Deputy Attorney General in the first Clinton Administration.

Analysis and Commentary

James McAndrews On The Value of Currency

by David R. Hendersonvia EconLog
Saturday, May 9, 2015

My Hoover Institution colleague John Cochrane has highlighted an excellent speech by James McAndrews of the New York Federal Reserve Bank. It's titled "Negative Nominal Central Bank Policy Rates: Where Is the Lower Bound?" There's a lot of meat in the speech and I recommend both the whole thing and John Cochrane's blog post about it. I want to focus on one thing that McAndrews discusses: the idea of eliminating currency.

Analysis and Commentary

A Few Thoughts On The Second Circuit’s 215 Decision And Its Importance

by Benjamin Wittesvia Lawfare
Saturday, May 9, 2015

From day one of the Snowden revelations, we all knew that the legal validity of the 215 program hinged ultimately on the capaciousness of a single word: “relevant.” Even those of us who generally support robust signals intelligence programs also knew immediately that the legal theory underlying this program lay right at the margins, perhaps beyond the margins, of the legally tenable
 

Analysis and Commentary

What Obligations Does Freedom of Speech Carry?

by David R. Hendersonvia EconLog
Friday, May 8, 2015

"The right to free speech also means acknowledging when to remain silent--a discipline Pam Geller never mastered." My response: No it doesn't. Everyone--and that includes fools, idiots, and toxic people--has the right to free speech. We can argue about whether Pam Geller should have taunted Muslims the way she did.

Analysis and Commentary

Matthew Waxman To Be The New NSA General Counsel

by Benjamin Wittesvia Lawfare
Saturday, May 9, 2015

In all seriousness, it’s an inspired choice both for the agency and for the Obama Administration, which deserves credit for looking for someone of true distinction and gravitas for this position, even in the waning days of an administration.

Interviews
Interviews

Ed Lazear On The Santelli Exchange

interview with Edward Paul Lazearvia CNBC
Friday, May 8, 2015

Hoover fellow Ed Lazear discusses the latest jobs report. Lazear notes that the economy is not growing the factors of production in a way that we need them to grow in order to have high productivity growth. Lazear notes that job growth overstates the strength of the labor market and monetary policy is not particularly effective at stimulating the economy. If you want to add to productivity you have to think of the long run. We need low and efficient taxes, balanced budget, trade, and fewer regulations.

Victor Davis Hanson, the Martin and Illie Anderson Senior Fellow at the Hoover I
Interviews

Victor Davis Hanson - Why Civilizations Collapse

interview with Victor Davis Hansonvia Garrison (WIBC)
Friday, May 8, 2015

Hoover fellow Victor Davis Hanson dicsusses his recent article "No law, No Civilization," which examines what causes civilizations to collapse, from a dysfunctional fourth-century-B.C. Athens to contemporary bankrupt Greece. Hanson notes that increasingly in the United States, the degree to which a law is enforced -- or whether a person is indicted -- depends on political considerations and thus a complex society starts to unwind.

Harvey Mansfield
Interviews

Harvey Mansfield On Leo Strauss And The Straussians

interview with Harvey C. Mansfieldvia Conversations with Bill Kristol
Thursday, June 18, 2015

Hoover Institution fellow Harvey Mansfield discusses the political philosopher Leo Strauss and the school of philosophy he founded. Mansfield discusses key themes in Strauss's work, including esoteric writing, the quarrel between ancients and moderns, and the theological-political problem. Mansfield also reflects on three outstanding students of Strauss: Seth Benardete, Allan Bloom, and Ernest Fortin.

Interviews

What Is Needed To Boost Wage Growth?

interview with Edward Paul Lazearvia Fox Business
Friday, May 8, 2015

Hoover fellow Ed Lazear discusses the latest jobs report and notes that hours of work did not bounce back, which is symptomatic of a weak recovery. Hires are down from a few months ago which is troublesome too. We need prodictivity growth for job growth.

Economic growth with Nobel laureate Michael Spence
Interviews

Insight: Ideas for Change - Michael Spence On Globalization And Unemployment

interview with Michael Spencevia Dailymotion
Sunday, May 10, 2015

Hoover fellow Michael Spence discusses globalization and unemployment and notes that the intergenerational opportunities are declining in the industrialized countries.

Interviews

Ed Lazear On The Larry Kudlow Show (46:55)

interview with Edward Paul Lazearvia Larry Kudlow Show
Saturday, May 9, 2015

Hoover fellow Ed Lazear discusses the labor market and notes that the unemployment rate is not a good indicator of the job market. A better indicator of the job market it the labor participation rate or what proportion of the working age population has jobs. Before the recession that number was 63.8% now the number is 59.3%. Lazear notes that we have a long way to go to get back to full employment.

Interviews

Michael Petrilli On School Closings

interview with Michael J. Petrillivia American Radio Journal
Monday, May 11, 2015

Hoover fellow Michael Petrilli discusses school closures in Ohio and notes that most of the time students end up in better schools and they do better as a result. When we looked at the impact of closures on their achievement, we found that, on average, children directly affected by closure gained significantly—the equivalent of an extra month of learning in their new schools.

In the News
Healthcare Costs
In the News

Eric Topol On The Power Of Patients In A Digital World

by Russell Robertsvia EconTalk
Monday, May 11, 2015

We're in the middle of a healthcare revolution but it's about more than marvelous life-saving and life-enhancing apps on our smartphone. Eric Topol of the Scripps Translational Science Institute and author of The Patient Will See You Now argues that the digital revolution will give us more control of our health information and data.

Stanford Oval
In the News

Four Young Stanford Scholars Honored By George Shultz, Henry Kissinger

mentioning George P. Shultz, Henry A. Kissinger, Michael McFaulvia Stanford
Sunday, May 10, 2015

The occasion was the announcement of the winners of this year’s George P. and Charlotte Shultz Fellowship in Modern Israel Studies. Now in its fourth year, the fellowship program provides financial support to students as they conduct research on issues relevant to modern Israel and the improvement of Israeli-Arab relations.

In the News

McFaul: Annexation Of Crimea Should Have Cost Putin Much More

featuring Michael McFaulvia Joinfo
Thursday, May 7, 2015

"I consider Putin as the leader of tactics, not a strategist. Yes, he makes emotional decisions. He did the same with Crimea. And since it was so easy, he had the temptation to go further. It is such a shame, annexation should have cost him much more," he stressed.

Former U.S. secretary of state Condoleezza Rice
In the News

Former Secretary Rice: American Race And Poverty Need Decoupling

quoting Condoleezza Ricevia Independent Record
Saturday, May 9, 2015

Rice, the first African American woman to hold the position, and a national security adviser to President George W. Bush, said racial inequality in the United States is better now than it was in the segregated South of Martin Luther King Jr., or the Alabama of her childhood.

immigration reform
In the News

GOP Will Lose Without Sensible Immigration Reform

quoting Timothy Kanevia CNBC
Friday, May 8, 2015

According to Hoover economist Timothy Kane, the majority of studies show that increased immigration has a small negative effect on the relative wages of low-skilled native workers. However, economists also agree that the overall effect of increased immigration is positive.