Nationwide, government-worker compensation has been growing more rapidly than private-sector compensation for several years, but this trend is on steroids in California, where some state and local government workers are now paid roughly twice as much as those in the private sector.
The spring issue of Hoover Digest is now available online. The journal focuses on topics both classical—the economy, personal freedom, the role of government—and timely, such as cybersecurity, terrorism, and geopolitical shifts.
I recently suggested to a still-sprightly friend who worked in the Reagan White House that President Reagan’s address at Fudan University in Shanghai—delivered April 30, 1984—was a terrific speech that stands forgotten. My friend texted a pensive reply. “If not largely forgotten, then it’s at least overshadowed by subsequent oratory in a busy rhetorical era.”
My longtime friend and colleague Dr. Thomas Sowell has just published a revised and enlarged edition of “Discrimination and Disparities.” It lays waste to myth after myth about the causes of human differences not only in the United States but around the globe. Throughout the book, Sowell shows that socioeconomic outcomes differ vastly among individuals, groups and nations in ways that cannot be easily explained by any one factor, whether it’s genetics, sex or race discrimination or a history of gross mistreatment that includes expulsion and genocide.
Once we understand that community matters, then it becomes clear why it is not enough for a country to experience strong economic growth… How that growth is distributed across communities in the country matters immensely.
On April 25th, The New York Times International Edition ran a disturbing cartoon described by Seth Frantzman of The Jerusalem Post as “…an apparently blind US President Donald Trump wearing a yarmulke being led by a dog with a Star of David for a collar and with a face of Prime Minister Benjamin Netanyahu.” After numerous complaints, The New York Times removed the cartoon from its website calling it, “an error in judgment.”
House Financial Services Chair Maxine Waters and Sen. Elizabeth Warren called for and got Wells Fargo CEO Tim Sloan’s scalp, highlighting a dangerous politicization of banking. Politicized banking misallocates capital, increases financial-system risk and reduces value for consumers and businesses.
One big headline from Friday’s initial report on first-quarter U.S. gross domestic product is the boost growth received from the fallout of President Donald Trump’s trade wars. Yet below the surface are signs of how his disruptive approach to trade is also dampening growth in a way that may be more worrying for the long term.
By the end of 2021, the smorgasbord of benchmark borrowing costs known as the London Interbank Offered Rates is due to die. Rendered archaic by shifts in the wholesale money markets, not to mention sullied by rigging, the world’s regulators have deemed Libor no longer fit for purpose.
House Democrats will hold their first-ever hearing on Medicare for All legislation on Tuesday, advancing a sweeping proposal that several prominent 2020 Democratic presidential hopefuls have embraced -- even as some progressives caution the hearing may amount to a "farce," and President Trump and top Republicans call the idea a socialist prescription for disaster.
Brexit is bringing government and policymaking in Whitehall and Westminster to a juddering halt. Since the June 2017 election, it has been increasingly clear that Theresa May and her ministers don’t have the capacity to contemplate much policy that isn’t connected with Britain’s departure from the EU.
Qatar’s Foreign Affairs Ministry spokeswoman Lolwah Rashid Al-Khater used intellectual relativism to assuage fears of Islamic absolutism while speaking last month at Georgetown University’s Center for Contemporary Arab Studies (CCAS). “There are always narratives and counter-narratives” and “multiple versions of the truth. That’s why we have different religions,” she proclaimed, in a clever bid to mask Qatar’s role as a Muslim Brotherhood (MB) bastion.