When both Democratic and Republican lawmakers recently joined together to support a taxpayer-funded, multibillion-dollar bailout of big union pension funds, you didn’t need to be a “swamp” creature to know something has gone terribly wrong in Washington, D.C.
Professor Tim Wu of Columbia University has emerged as America’s most vocal champion of populist antitrust policies. His recent book—The Curse of Bigness: Antitrust law in the New Gilded Age— is a direct takeoff of the work of Louis D. Brandeis, who coined this phrase “the curse of bigness,” before he joined the Supreme Court in 1916.. Wu is on record, for predicting that the consolidation of American businesses is the prelude to more inequality and human suffering, leading in some instances to the rise of fascism.
On this date, 171 years ago, California took the first step from unexplored territory to economic colossus with the discovery of gold in the tailrace (still visible today) of a sawmill in present-day Coloma, about an hour’s drive northeast from Sacramento.
By the numbers, the European Union is a giant. Its economy exceeds China’s by $7 trillion and is just a bit smaller than America’s $20 trillion. Russia? Its GDP of $ 1.7 trillion is petty cash. On paper, the EU nations marshal as many soldiers as does the United States, and half a million more than Russia. Their combined population dwarfs both. But if one measures by its weight in world affairs, Europe is a runt.
I was sitting down to write an email to Nathan Glazer when the news came in that he had passed away. Nat was 95 and one of the country’s last true public intellectuals. Others around here can write far more effectively about the significance, and sometimes controversy, of his work, but to me, he was an acquaintance who turned into a kind of quiet mentor. I first met Nat while a young professor at Yale, close to 15 years ago.
The notion of an Atlantic alliance consisting of Europeans and Americans as full partners was once a useful fiction. Today it is a dysfunctional one, an obstacle to all sides’ understanding of what useful cooperation may yet be possible.
If this era is to become a Golden Age of Educational Practice, we need successful, evidence-based practices—to the extent that they actually exist—to spread far and wide. Many ideas for how to get educators to use such practices are inherently top-down or “supply side” approaches—build tools or products or school models on top of the evidence base, and then market them to schools.
Arab Spring, move aside. Latin Spring is now blossoming, and if all goes well, it will be less bloody and a lot more successful at ousting corrupt leaders and promoting homegrown democratically elected representatives than the Middle East revolutions.
A number of Democratic politicians—and some economists including Paul Krugman—have recently advocated substantially higher income tax rates on high-income Americans. The current top federal tax rate on income is 37 percent for married people filing jointly, and it applies to all taxable income over $612,350. The highest state income tax rate in the United States is in California, where it is 13.3 percent on taxable income over $1 million. Thus, the highest-income people in California lose over half of their incremental income to the government.
Hoover Institution fellow Victor Davis Hanson discusses the case of how the Kentucky high school students at the Lincoln Memorial illustrate that facts "don't matter" and that the "big truth" in any situation is "predicated on race, gender and class."
Hoover Institution fellow Victor Davis Hanson weighs in on the verbal and social media attacks that took place targeting the students of Kentucky's Covington Catholic High School after their confrontation with Native American Nathan Phillips that went viral last weekend.
India will eventually surpass China in economic size and will be in a better position to create the infrastructure being promised by the Chinese side in South Asian countries, former RBI governor Raghuram Rajan said on Tuesday.
[Subscription Required] With U.S. stocks at all-time highs, it’s more important than ever that investors be brutally realistic about future returns. Some of the most purportedly sophisticated investors in the world, the managers of giant pension funds for state and local government employees, might not have absorbed that lesson yet. You can learn a lot from these folks -- if you listen to them and then do the opposite.
American economist and social theorist Thomas Sowell once wrote, “What do automobiles, guns and home-schooling all have in common that makes the liberals hate them? All these things reduce individual dependence on the government and the grandiose schemes for other people’s lives created by liberals and imposed by government.”
The trade war between the U.S. and China has had dramatic affects on the global economy — that much is clear from conversations with executives here. U.S. companies have shifted supply chains out of China to avoid tariffs. And more dramatically, Chinese companies have reduced investment plans in the U.S. As I mentioned Monday, the percentage of Chinese executives who cite the U.S. as their top market for investment dropped precipitously in PWC’s annual CEO survey from 59% last year to 17% this year.
A prosecutor from Kenton County, the home of the Covington Catholic High School boys who’ve become public enemy number one to the increasingly volatile left, has confirmed that his office has launched multiple investigations into those among the far-left who’ve been threatening the kids.
The Federal Reserve and other major central banks are right to rethink their plans to tighten monetary policy in 2019 as global growth slows, according to the investors and former policymakers attending the Davos summit.