Today, Condoleezza Rice speaks with accomplished business leader Indra Nooyi about her Only in America story; Philip Zelikow explains how Americans can learn from both their successes and their failures to imagine astonishing possibilities for the nation’s future; and Joshua Rauh joins Bill Whalen for a comprehensive and research-based discussion of the likely consequences for California’s economy should voters approve a wealth tax on billionaire residents.
Only in America
Indra Nooyi is today recognized as one of the most respected business leaders in the world. The former chair and CEO of PepsiCo has taught at West Point, currently serves on the board of Amazon, and is the author of a New York Times bestseller, My Life in Full: Work, Family and Our Future. But this success came as a result of many years of disciplined, hard work by Nooyi across roles, industries, and continents. In conversation with Condoleezza Rice, Nooyi reflects on her Only in America story and the values it has instilled in her. Rice asks Nooyi about immigrating to the United States; her graduate studies at Yale and early business career; how she rose to leadership at PepsiCo; the importance of innovation to economic growth; what is distinctive about American culture and society; and why she is grateful to be part of the American story. Watch or listen here.
Freedom Frequency
In this new essay, Senior Fellow Philip Zelikow argues that the world, and America, are in a time of historic transition to something else, still undefined. In its 250 years there is no parallel for the role America has played as a laboratory of human progress. Revolution, civil war, world-spanning conflicts, and the global commonwealth, and now fresh uncertainty and self-doubt in our digital age: these contain all the successes and setbacks of the American experiment. Zelikow explains that today’s turmoil invites us to imagine a new American example—one that might renew faith that liberty, opportunity, and the rule of law can still work in the lives of ordinary people. Read more here.
California Policy & Politics
If approved by voters in November, a California ballot initiative would impose a 5% “wealth tax” on the Golden State’s resident billionaires, with 90% of the proceeds going to state healthcare programs. Senior Fellow Joshua D. Rauh joins Distinguished Policy Fellow Bill Whalen on Matters of Policy & Politics to discuss America’s current fascination with socialism and economic class warfare, as well as all that’s at stake in the Golden State. Will a voter-approved wealth tax prompt billionaires to flee California for the likes of Austin and Nashville, taking with them needed tax revenue? Would the one-time tax lay waste to Silicon Valley as an incubator of innovation (and state revenue)? Rauh and Whalen also discuss what might happen if the promised revenue doesn’t materialize. Would California then apply the tax to those with less wealth as well, or perhaps expand it beyond a five-year period? As the scholars discuss, the latter happened a decade ago when the Golden State extended a “temporary tax” on California’s upper earners. Watch or listen here.
Law & Policy
In its June 29 opinion in Chatrie v. United States, the Supreme Court held that the government’s acquisition of Google’s Location History data through a geofence warrant constitutes a Fourth Amendment search because individuals have a reasonable expectation of privacy in their historical cell-phone location information. The Court also remanded for further consideration whether the particular multistep warrant satisfied the Fourth Amendment’s probable cause and particularity requirements. In the process, the Court twice cited Hoover senior fellow and Stanford Law School professor Orin S. Kerr’s friend-of-the-court brief, which walked through the issues presented to the Court and evaluated arguments for and against different approaches. Read more here.
USA@250
On paper, it was a mismatch: a fledgling republic seeking freedom from the world’s mightiest empire. And yet the American Revolution ended with the upstart colonists’ victory over the mighty British military. Military historian Rick Atkinson joins the GoodFellows to discuss the military tactics, geopolitical shifts, and economic conditions that factored into the war’s outcome. After that, the fellows discuss why serving as the British prime minister has become a game of musical chairs, how the Labour party lost its way, and the rise of “democratic socialism” in the US. Finally, in the “lightning round,” John H. Cochrane offers his thoughts on the passing of former Federal Reserve Chair Alan Greenspan; H.R. McMaster gives his take on the Pentagon putting its generals out to pasture; and Niall Ferguson reflects on European World Cup fans descending upon the US, only to discover a land of abundance (i.e., plenty of ranch dressing even if there’s not enough beer to go around). Watch or listen here.
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