Joe Stiglitz recently published an attack, “The Myth of Secular Stagnation,” on Larry Summers’ hypothesis of secular stagnation, a revival of a term used by Alvin Hansen decades ago. Larry first presented his secular stagnation hypothesis at a conference jointly hosted by the Brookings Institution and the Hoover Institution on October 1, 2013, during the fifth anniversary of the financial crisis. It has gone viral since then.
I am not quite sure exactly when I received “The Subprime Primer,” a slide deck that someone e-mailed me early in 2008. I do remember thinking that it was unlikely ever to be surpassed as an introduction to the financial chain reaction that began as I was writing “The Ascent of Money” and reached its climax in the months after the failure of Lehman Brothers, the 10th anniversary of which fell Saturday.
Comparing the jihadist attacks on September 11, 2001 to the December 7, 1941 attack on Pearl Harbor has become a staple of commentary on the worst terrorist attack in U.S. history. Google this topic and nearly half a million links will pop up; google “lesson plans” and you’ll get nearly five million hits. In the catalogue of historical analogies, the comparison of 9/11 to 12/7 is perhaps the most popular outside the historians’ guild.
The choice between Donald Trump and Hillary Clinton is not unlike the doomed airliner that crashed during the 9/11 attacks according to Hillsdale College political lecturer and research fellow, Michael Anton.
Yale University psychologist Paul Bloom talks with EconTalk host Russ Roberts about cruelty--what motivates cruelty, the cruelty of small acts that accumulate into something monstrous, and the question of whether the abuse of a robot is a form of cruelty.
Education Next and PDK both released the results of major surveys of public opinion about education in recent weeks. Joshua Starr, the president of PDK, joins Paul E Peterson to discuss the results of the two surveys.
“But you support the Common Core!” So said Laura Jimenez of the Center for American Progress on the Education Gadfly Show podcast when I argued that it was a mistake to peg high school graduation standards to the “college-ready” level. Guilty as charged. I do support the Common Core, which is designed to get students to “college and career readiness” by the end of high school.
How serious a problem is terrorism? Krueger’s table of relative risks shows that the answer is “not very.” An American’s lifetime risk of being killed by a terrorist, calculates Krueger, is 1:69,000. Compare that to the 1:88 chance of being killed in a motor vehicle accident and the even more serious 1:7 risk of dying from cancer and 1:4 risk of dying from heart disease.
In “The Greatest Service Economists Perform,” published this morning by the American Institute for Economic Research, Don Boudreaux tells a story that he had told me in shorter form many years ago. It’s one of my favorite stories about someone being “hooked on economics,” to the use the title of Chapter 2 of my book The Joy of Freedom: An Economist’s Odyssey.
Hoover Institution fellow Jamil Jaffer laments the increasing politicization of Supreme Court nominations and hearings. And, he does not believe that if Kavanaugh is confirmed that he would move the direction of the high court to the right on critical issues such as abortion rights, gay rights, affirmative action or the scope of executive power.
I wanted to take a second to praise somebody who ought to be recognized a lot more than he is. Thomas Sowell is a Senior Fellow at the Hoover Institute in Stanford. He is an economist who has written over 30 books and obtained a bachelor’s degree from Harvard, a master’s degree from Columbia and a Ph.D. in economics from the University of Chicago.
Lee Ohanian, an economist at the California-based Hoover Institution, recently described the change in economic climate in the state so envied in the 20th century for its beauty and its weather but also for its business approach.
On April 22, national security adviser John Bolton said, "It's Open Season for Foreign Influence Operations. It's not just Vladimir Putin's Kremlin that is trying to influence our elections. So are communist China and sharia-supremacist Iran."
Russian President Vladimir Putin has been in power for almost two decades and will stay for at least six years more. His leadership, however, has been so damaging for his nation and the world that many wonder: When will Putin’s era end and what is the future of Russia after Putin?
On September 15, 2008, the United States investment banking giant Lehman Brothers Holdings Inc filed for bankruptcy. The crisis and panic it triggered not only resulted in loss of thousands of jobs but also resulted in a global financial crisis with many parts of the world plunged into recession.
The world's major economies are skating on dangerously thin ice and lack the fiscal, monetary, and emergency tools to fight the next downturn. A roster of top crisis veterans fear an even more intractable slump than the Lehman recession when the current ageing expansion rolls over. The implications for liberal democracy are sobering.
Kevin Warsh, former Federal Reserve governor: "Too many Americans lost trust in our system of governance, lost belief in the market economy, and lost confidence in the American Dream; that faith must be revived, restored, and reaffirmed before the next economic downturn."
As readers will recall, Duke history professor Nancy MacLean wrote a widely-publicized book, Democracy in Chains, that purports to be an intellectual history of the late public choice economist James Buchanan, and his asserted vast influence on current American politics. Critics, most but not all of them libertarians intimately familiar with Buchanan's life and legacy, have been harshly dismissive.
After witnessing three currency crises in a decade, India is watching the rupee’s zigzag show, wondering if it is headed for a fourth. India last witnessed currency crises in 2013, 2011, 2008 and 1997.
Just as the global economy increasingly is influenced by rising powers in the East, so too is the global news media. Today, Western journalism is in decline. With fewer foreign correspondents, international bureaus and stringer networks from US and other Western news organizations around the world, the non-Western, often state-run media outlets from countries like China and Russia are filling in the gaps, growing rapidly and broadly. What are the implications of this shift in sourcing our international news?