Last month, California governor Gavin Newsom announced that California’s ill-fated high-speed rail project would be scaled back enormously due to cost overruns and delays. The original project, which had an initial cost estimate of $33 billion, would have provided high-speed train service (speeds on some segments in excess of 200 miles per hour) beginning in San Diego, traveling through Los Angeles and the Central Valley up to the state capital of Sacramento, and would have also included the San Francisco Bay Area and Silicon Valley. With possible federal contributions, this idea sounded promising enough that nearly 53 percent of California taxpayers voted for a $9 billion bond in 2008 to help finance it.
If you’d told me this time 30 years ago that the United States would be in another cold war with another communist superpower by 2019, I wouldn’t have believed you. If you had told me that, simultaneously, socialism would be the height of fashion with young Americans, I would have directed you to a psychiatrist.
I wrote a book, The Case for Trump, in an effort — as an outsider who has no career investment in Trump and has never met him or visited the Trump White House — to analyze how and why Donald J. Trump was elected president and why his agenda so far has been successful.
Actions have consequences, often unintended ones. When government policies carry unintended consequences, wreckage may follow. Take Prohibition, it didn’t stop drinking, but it did cause a massive drop in tax revenues while boosting organized crime. Or Smokey the Bear, the fire-suppression campaign led to the accumulation of dried timber and other fuels within our forests, fuels that have contributed to unprecedented wildfires.
Economists measure gross domestic product per capita (at purchasing power parity, PPP) as the value of all final goods and services produced within a country in a given year divided by the average (or mid-year) population for the same year.
Harvard economics professor Greg Mankiw, who has become a multi-millionaire by writing and honing his very successful economics textbooks, has written a thoughtful article titled “Reflections of a Textbook Author.”
Hoover Institution fellow Victor Davis Hanson discusses his new book The Case for Trump, and notes that on certain issues, Trump has been a better conservative than recent Republican Presidents and party leaders.
From his base at California’s Stanford University Hoover Institution, Thomas Sowell authored a series of thoughtful books, wrote a nationally syndicated column, and often appeared on television. In a 2016 column headlined “Farewell,” the 86-year-old economist pledged to “spend less time following politics and more time on my photography.”
Former Reserve Bank of India (RBI) governor Raghuram Rajan on Tuesday warned that capitalism is under "serious threat" of a "revolt" as the economic and political system has stopped providing for the people, especially after the 2008 global financial meltdown.
President Donald Trump's decision to pursue wall construction through a national emergency declaration could jeopardize his ability to build a barrier along the U.S.-Mexico border, legal experts told The Texas Tribune.