Silver Lake is a three-square-mile neighborhood in central Los Angeles and home to roughly 32,000 residents. A dispute between a Silver Lake service station owner who wishes to build fourteen residential units at that location and local government that is trying to prevent this new development illustrates why real estate prices are so high in California, and why it is so difficult to build new housing in the state.
For months, I’ve been driving on different routes through the vast San Joaquin Valley back and forth from the California coast—and through the usually economically depressed small towns on and near the Highway 99 corridor through the Central Valley. The poverty rate in many valley counties is higher than in West Virginia. It is a world away from Hollywood, Silicon Valley, the Stanford or Caltech campus, Malibu, and Pacific Heights.
A series of polls have shown that pluralities of Democrats and millennials prefer socialism to capitalism. These surveys also make clear that respondents do not know what socialism is. Also Sen. Bernie Sanders (I-Vt.) has shown that Democratic primary voters will cast their ballots for an avowed socialist if he packages his brand properly.
On Sunday, John McCain will be laid to rest in a private ceremony on the grounds of the U.S. Naval Academy, his cherished alma mater. On Monday, we’ll begin the debate over how to properly honor the storied naval aviator/prisoner-of-war, also known to the nation as a 36-year veteran of Capitol Hill and two-time presidential candidate.
YoramHazony discusses his book, The Virtue of Nationalism, with EconTalk host Russ Roberts. Hazony argues that nationalism, for all its flaws, is a better system than a global system of governance. He argues that while the competition between nationalist states can lead to violence, the opportunity for each nation to pursue its own policies creates the benefits that trial-and-error innovation create in the marketplace. He also points out the dangers of global government systems and argues that U.S. military dominance and various international institutions such as European Union and the International Criminal Court have been growing in power.
A definition of totalitarianism might be the saturation of every facet of daily life by political agendas and social-justice messaging. At the present rate, America will soon resemble the dystopias of novels such as 1984 and Brave New World in which all aspects of life are warped by an all-encompassing ideology of coerced sameness.
A “whiff of grapeshot” is how English historian Thomas Carlyle described Napoleon’s method of stopping a Royalist riot during the French Revolution. Napoleon ordered his men to fire cannon loaded with “grapeshot,” shrapnel, directly into the mob, killing some and scattering the rest. The saying has lived on as a lesson in deterrence: decisive and brutal force used at the right time can avoid a more serious engagement with higher casualties.
A third problem with the national interest is that the homogenization of individual preferences carries costs for the nationals themselves or for a large number of them, even if state propaganda tries to hide these costs. Diversified preferences, at least within a certain range, carry information and promote experimentation and innovation, from which wealth and individual flourishing spring.
On September 1, 1968, I began my first full-time academic job as an Assistant Professor of Political Science at the University of Rochester. Fifty years later to the day, on my Academic Golden Anniversary, I am launching a new website, alvinrabushka.com. It presents my research on four themes: economic freedom, tax policy, race and ethnic relations, and aging policy.
In every course I taught in the last 20 years before I retired, I did about a 45-minute segment on numeracy. One point I emphasized is that there is typically a huge difference between a percent change and a percentage-point change. So, for example, when various proponents were advocating a one-percentage-point increase in our local sales tax, they would sometimes claim that it was a one-percent increase. A one-percent increase sounds trivial and, indeed, is trivial.
In a recent New York Times column, economist Paul Krugman writes: The other day I had some fun with the Cato Institute index of economic freedom across states, which finds Florida the freest and New York the least free. (Is it OK for me to write this, comrade commissar?) As I pointed out, freedom Cato-style seems to be associated with, among other things, high infant mortality. Live free and die! (New Hampshire is just behind Florida.)
Four decades ago, New York Sen. Daniel Patrick Moynihan, an intellectual Democrat, observed with amazement and regret that Republicans had become the party of ideas. Today, many of America’s most interesting arguments divide conservatives. One concerns the judiciary’s role in the supervision of democracy: Should judges be, as Oliver Wendell Holmes and Robert Bork believed, deferential to majorities, or should judges be engaged in limiting majorities in the name of liberty?
How do developed economies maintain their low interest rates? The Taylor rule is a mathematical formula developed by American economist John Taylor to help central banks set short-term interest rates based on economic conditions and inflation. Its aim is to help central bankers make rational monetary policy decisions. In this sense, it acts as an objective benchmark by setting the optimal rate that balances inflation and growth targets.
“You can’t just go out in the middle of Iowa and try to create a center for space,” said Rep. Ted Lieu (D-Torrance), a retired Air Force officer. “So Southern California is very well situated” to get substantial benefits. The extent of the benefits would depend on where the headquarters is located, how much is spent on new satellites and other space systems, and how many people and programs now in the Air Force and other existing armed services might be shifted to the new force.
How can quality K-12 schools improve a state’s economy? Many people—including elected officials—don’t automatically make the connection between these two issues, though economic health and education are both top of mind for voters across the country, including those participating in this fall’s 36 gubernatorial races.
It is impossible to overlook the growing influence of China in Thailand. Durian prices have surged in recent years due to soaring Chinese demand. Chinese buyers earlier this year overtook the Japanese in foreign condominium purchases in Bangkok. Its tourists account for the largest group of visitors, with Kasikorn Bank Economic Research Center predicting upward of 10.6 million will arrive this year, an increase of 6.3 percent to 8.4 percent.
Perry Volpone was determined to follow the herd. All his friends started collecting Social Security benefits the moment they retired, and he saw no reason to do anything different. Yet Dana Anspach, Mr. Volpone’s newly hired financial adviser, argued against it. She urged the former retail executive, then 65, to put off applying for Social Security for five more years. Why? Because delaying it would increase his monthly benefit.
White House counsel Don McGahn will depart the administration later this year amid tensions over his role in special counsel Robert Mueller’s investigation. McGahn’s intentions to leave this year have been reported for months, but after Axios reported it with more certainty Wednesday, President Donald Trump removed any ambiguity on the matter with a tweet.
The Cliveden Literary Festival has announced a new educational partnership with the London Academy of Excellence Tottenham. As part of the initiative, 10 students from the sixth form college will attend the festival next month on 29th and 30th September.