Hoover Daily Report
Analysis and Commentary
Analysis and Commentary

The Social Contract

by Clifford Orwinvia Globe and Mail (Canada)
Saturday, September 27, 2008

The Social Contract (1762) is a masterpiece of one of the most fascinating of writers...

Analysis and Commentary

If fares too high, why are planes full of travelers?

by Tibor R. Machanvia Freedom Communications
Friday, September 26, 2008

In genuinely free markets prices reflect the overall intersection between supply and demand, so there are no prices that are too high or too low...

Analysis and Commentary

Obama's Truly Radical Idea

by Clint Bolickvia Forbes
Friday, September 26, 2008

Exhibit A in Sen. Barack Obama's case that he is the women's candidate, despite Sen. John McCain's choice of Gov. Sarah Palin as his running mate, is that "she's opposed, like John McCain is, to equal pay for equal work."...

Analysis and Commentary

What price peace?

by Niall Fergusonvia Financial Times
Friday, September 26, 2008

Conventional wisdom holds that battles are bad for bourses...

In the News
In the News

What is Cameronism?

with Philip Bobbittvia La Stampa (Italy)
Monday, September 29, 2008

“Go back to your constituencies and prepare for Government” is the usual expectant Leader’s injunction at the end of his Conference Speech...

In the News

Kling on Freddie and Fannie and the Recent History of the U.S. Housing Market

by Russell Robertsvia EconTalk
Monday, September 29, 2008

Arnold Kling of EconLog talks with host Russ Roberts about the economics of the housing market with a focus on the role of Fannie Mae and Freddie Mac...

In the News

Bailout Plan Is Only One Step on a Long Road

with Robert E. Hallvia New York Times
Monday, September 29, 2008

The government’s planned financial bailout is a significant if costly step intended to avert economic calamity, but it may not be the last one, according to economists and finance experts...

In the News

Eddie Barnes: The Apprentice

with Niall Fergusonvia Scotland on Sunday (UK)
Sunday, September 28, 2008

THE novice is getting serious...

In the News

Obama is free of old school Cold War mentality

with William J. Perry, George P. Shultzvia Taipei Times
Sunday, September 28, 2008

Sometimes people outside the US have views of US elections that are, at the least, different from those within and, more often, illuminating...

In the News

Call for presidential executive order to stop torture, degrading treatment under U.S. watch

with William J. Perry, George P. Shultzvia Asia Times
Sunday, September 28, 2008

Evangelicals for Human Rights, the National Religious Campaign Against Torture and the Center for Victims of Torture have drafted a declaration of principles its members want to see the next president include in an executive order on prisoner treatment, torture and cruelty...

In the News

Fannie and "manufactured homes"

by Russell Robertsvia Cafe Hayek
Sunday, September 28, 2008

In Ed Gramlich's book on the subprime market, he mentions almost in passing that HUD even required Fannie and Freddie to support the purchases of mobile homes, what are formally called "manufactured homes."...

In the News

The Financial Crisis II

by Gary S. Becker with Milton Friedmanvia Becker-Posner Blog
Sunday, September 28, 2008

In considering what needs to be done to improve the functioning of the financial system, it is necessary to distinguish steps to avoid a major depression in the near term from long run reforms of the financial system...

In the News

Obama breathes fire, McCain shows restraint over Pakistan

with George P. Shultzvia Pakistan Dawn (Pakistan)
Sunday, September 28, 2008

Pakistan will remain the main theatre of the US-led war on terror whether it is a Democratic or a Republican who occupies the White House next year.

In the News

Time is Running Out

by Victor Davis Hansonvia Works and Days
Sunday, September 28, 2008

Obama’s constant deference to McCain as in “John is right…”; the worried side-looks over at McCain, who, in contrast, addressed the audience; and the desire for false intimacy (employing “John” instead of “Sen. McCain”) reflected the relative lack of gravitas on Obama’s part—something that transcends education, eloquence, and youthful vigor...

In the News

Risky moves could define McCain's leadership

with Bill Whalenvia San Francisco Chronicle
Sunday, September 28, 2008

The roller coaster that is the 2008 presidential race has had more than its share of hair-raising twists and turns, but last week may have been the ultimate political thrill ride - one that could serve to define Republican candidate Sen. John McCain as either a bold risk-taker or an erratic, impetuous politician...

In the News

More on manufactured homes

by Russell Robertsvia Cafe Hayek
Sunday, September 28, 2008

In this post, I provided excerpts from an article describing how Congress had leaned on Fannie Mae to encourage loans for mobile homes, known in the industry as manufactured homes...

In the News

The Washington Panic

with Gary S. Beckervia Wall Street Journal
Saturday, September 27, 2008

Thursday night's negotiated sale of Washington Mutual to J.P. Morgan Chase was a nifty bit of financial plumbing that minimized the damage to taxpayers while putting a banking zombie in sounder hands...

In the News

A Round-Up of Reaction to the First Presidential Debate

with George P. Shultzvia CQPolitics
Saturday, September 27, 2008

Here’s CQ Politics’ round-up of reaction to how John McCain and Barack Obama did in the first presidential debate...

In the News

CBI: Adding liquidity not inflationary

with Milton Friedmanvia PRESS TV (Iran)
Saturday, September 27, 2008

The new governor of the Central Bank of Iran says providing needed liquidity to producers will lead to greater output and lower prices...

In the News

Modern Market Thinking Has Devalued a Deadly Sin

with Milton Friedmanvia New York Times
Saturday, September 27, 2008

Today, Gordon Gekko could not get away with the paean to greed that he delivered in the 1987 movie “Wall Street.”...

In the News

Beyond Ideology, a Generational Clash

with George P. Shultzvia New York Times
Saturday, September 27, 2008

One candidate cited Churchill and Eisenhower, and described George Shultz, who served in Ronald Reagan’s cabinet, as a “great secretary of state.”...

In the News

Greenspan, Shultz argue for quick bailout action

with George P. Shultzvia Reuters
Saturday, September 27, 2008

Former Federal Reserve Chairman Alan Greenspan and former Treasury Secretary George Shultz urged lawmakers on Friday to move swiftly to agree on a bailout package for financial firms in the interests of the broader economy...

In the News

Lawmakers Renew Talks on Rescue Plan Amid Signals of Compromise

with Robert E. Hall, George P. Shultzvia Bloomberg
Saturday, September 27, 2008

House Republican lawmakers today are set to resume participation in talks on a $700 billion rescue plan for the U.S. financial system, giving new momentum to forge an agreement...

In the News

Abizaid to address foreign relations challenges

with John Abizaidvia UNR NevadaNews (University of Nevada)
Friday, September 26, 2008

John Abizaid, the longest-serving leader of U.S. Central Command (CentCom) and former top commander for the wars and counterinsurgency operations in Afghanistan and Iraq, will give a free presentation, “The Foreign Policy Challenges of our Next President,” on Oct. 1, 7 p.m., at the Joe Crowley Student Union Ballroom on the University of Nevada, Reno campus...

In the News

Greenspan, Others Urge `Extensive' Action to Address Crisis

with Robert E. Hall, George P. Shultzvia Bloomberg
Friday, September 26, 2008

Former Federal Reserve Chairman Alan Greenspan urged lawmakers to back ``extensive'' measures to tackle the worst financial crisis since the 1930s and head off a recession...

In the News

Ontario economic summit starts, Tuesday

with Niall Fergusonvia Globe and Mail (Canada)
Friday, September 26, 2008

Canada 2020 and Financial Times co-host conference on the U.S. economic crisis...

In the News

The U.S. Financial Crisis: The China Connection

by Alvin Rabushkavia Thoughtful Ideas
Friday, September 26, 2008

For many years, Treasury Secretary Henry Paulson, his predecessors at Treasury, and other prominent American academics and financiers lectured China on the need to reform its financial system and how to do it...

In the News

Greenspan Calls for Action on Financial Crisis

with Robert E. Hall, George P. Shultzvia Wall Street Journal
Friday, September 26, 2008

Former Fed Chairman Alan Greenspan co-signed a letter calling for lawmakers to take action to relieve the financial crisis. Greenspan, along with former Treasury Secretary George Shultz and Robert Hall of the Hoover Institution, declined to back a specific plan, instead saying, “We endorse all plans that would preserve the key functions of the threatened financial institutions.” Full text of the letter follows:...

In the News

The U.S. Financial Crisis: The Bush Connection

by Alvin Rabushkavia Thoughtful Ideas
Friday, September 26, 2008

Among the villains in the U.S. financial crisis is President George W. Bush...

In the News

Ministers appeal to nuclear test ban holdouts

with William J. Perryvia Associated Press
Thursday, September 25, 2008

Foreign ministers of nations that have ratified the Comprehensive Nuclear Test Ban Treaty appealed Wednesday to the nine remaining holdouts — including the U.S. — to endorse it...

In the News

Don’t bite the invisible hand

with Russell Robertsvia Spectator (UK)
Tuesday, September 2, 2008

The Price of Everything: A Parable of Possibility and Prosperity is an economics novel...