Entitlement programs fulfill the normal human desire to help those who cannot help themselves. But we must always remember that they also impose a penalty on work, because benefits have to be phased out as income rises. It is important to balance benefits granted and costs imposed.
Many economists and policy makers agree the US financial system has gotten safer since the 2008-10 financial crisis. But is it safe enough? John H. Cochrane, senior fellow of the Hoover Institution at Stanford University and distinguished senior fellow at Chicago Booth, says what's made us safer is the obligation of banks to hold more capital—but they still don't hold enough to make us immune from crisis.
One of America’s oldest colleges is under legal attack. No, I don’t mean Harvard University and the lawsuit over its admissions policies. The Electoral College is under attack, facing lawsuits filed in four separate federal courts this year, while also the subject of a stealth attack in state legislatures across the country.
Today, Jim Geraghty writes snidely: VDH writes, “The hostile reaction to Trump is a sort of proof of his success.” Does it follow, then, that if Trump was widely loved, it would be proof of his failure?” Geraghty creates a false either/or binary.
Providing benefits to support a comfortable standard of living for retirees with just a modest rate of tax on the working population depends on there being a small number of pensioners relative to the number of taxpayers. That is no longer the case.
Tyler Cowen recently linked to a debate between Stanford professor Katie Haun and Paul Krugman on cryptocurrency. I found myself torn but I did learn a few things and noticed a few interesting things. It starts with a 36-minute presentation by Haun. Then there’s a 25-minute presentation by Krugman and then a third 39-minute video with Q&A with the audience in Mexico City.
Hoover Institution fellow Thomas Sowell discusses his life and career, the consequences of fame, the surprising similarities between Presidents Trump and Obama, how Reason helped inspire his work, and why—despite the generally positive trajectory of the world over the last four decades—he remains somewhat pessimistic about its current state.
There is a freneticism animating Beijing’s governing class, a deft feeling of loss that is only explained as failure. Throughout the fiscal crisis and its aftermath that rocked the United States in late 2008, many working families knew of sources of growth outside the state.
This week, congresswoman-elect Alexandria Ocasio-Cortez, D-N.Y., tweeted out a letter from Spectrum Health to one Hedda Elizabeth Martin. The letter described the clinic's rejection of a heart transplant for Martin based on lack of a "more secure financial plan for immunosuppressive medication coverage." The clinic added, "The Committee is recommending a fundraising effort of $10,000." Ocasio-Cortez tweeted, "Insurance groups are recommending GoFundMe as official policy — where customers can die if they can't raise the goal in time — but sure, single payer healthcare is unreasonable.
Yesterday, the Heritage Foundation, in conjunction with the Hoover Institution, hosted an event with this blunt title: “Identity Politics Is a Threat to Society: Is There Anything We Can Do About It At This Point?” The panel consisted my friends John Fonte and Peter Berkowitz; my hero Heather Mac Donald; our long-time blog nemesis Andrew Sullivan; and Michael Lind, an original thinker whose book about the Vietnam War was the subject of the first post I ever wrote on Power Line, more than 16 years ago.