Now that human capital has become the most important form of wealth in America, even a very serious stock market correction would have only a relatively minor effect on employment, output, and wages. Alan Greenspan, lighten up. By Nobel Prize–winner and Hoover fellow Gary S. Becker.
Day in and day out, politicians and the press harp on the trade deficit and the federal deficit. Hoover fellow Charles Wolf Jr. and former Citicorp chairman Walter Wriston explain why they should save their breath.
Beginning in the 1980s, the government began introducing individual retirement accounts and 401(k) programs--widely heralded moves. Since then, in widely unheralded moves, the government has imposed new, all but confiscatory taxes on the saving these programs have encouraged. An analysis by Stanford dean John B. Shoven and Hoover fellow David A. Wise.
American soldiers being sent overseas to combat . . . noxious emissions? According to a new State Department document, the notion isn't as far fetched as it sounds. Hoover fellow Henry I. Miller, M.D., examines the latest wrinkle in the administration's foreign policy.
Why didn't tobacco companies ever compete with one another to produce safer cigarettes? It turns out that many years ago they started to do just that--until the federal government stopped them. Hoover fellow David R. Henderson explains why Washington regulators are hazardous to your health.
Judges have assumed vast powers the founders never intended. The solution? Congress should assert a few powers the founders did intend. An analysis by Hoover fellow and former Attorney General of the United States Edwin L. Meese III.
Republicans on Capitol Hill say they're determined to shove power out of Washington and back to the states. Hoover fellows John A. Ferejohn and Barry R. Weingast examine the issue, arguing that there are both right ways and wrong ways to restore power to the states.
Last spring, Governor Bush proposed a hike in the state sales tax to fund Texas schools. Hoover fellow Robert J. Barro explains what the governor was up to, why the financing of Texas schools is such a mess, and how the problem really ought to be solved.
At the Hoover Institution's dinner for its Board of Overseers this past summer, the columnist and television commentator George F. Will discussed the political scene. A tour d'horizon that is also a tour de force.
In the face of high, chronic unemployment, European politicians are blaming high technology for stealing jobs. Nobel Prize–winner and Hoover fellow Gary S. Becker argues that, instead, they should blame the big governments they built.
As a proportion of Russia's overall budget, defense has been shrinking steadily in recent years. Or has it? Hoover fellow Richard F. Staar argues that Russia has actually more than doubled its spending on one aspect of defense, research and development.
The good news about last year's presidential election in Russia is that communism was defeated forever. The bad news is what won. Hoover fellow Michael A. McFaul examines the present state of Russian democracy.
Hoover honorary fellow Margaret Thatcher wonders whether she did the right thing when she signed the 1984 Sino-British Joint Declaration, under the terms of which Hong Kong reverted to Chinese rule. She doesn't wonder long.
Economists educated at the University of Chicago have for some two decades been putting free market reforms into effect in Chile, Argentina, and other Latin American countries. One of their teachers, Nobel Prize–winner and Hoover fellow Gary S. Becker, examines the results. What does he find? Dictatorships that have been turned into democracies and economic stagnation that has been transformed into growth.
Latin America has seen one authoritarian regime after another replaced by democratic institutions during the last decade and a half. Hoover fellow Larry Diamond nevertheless argues that Latin American democracy remains shallow and unstable--and he presents ten challenges that Latin American democracies must yet overcome.
Hoover fellow Thomas Sowell examines a new book, Out of America: A Black Man Confronts Africa. The book is honest, Sowell finds, a quality that by itself is enough to render the volume "almost shocking."
No sooner had Laurent Kabila overthrown the dictator of Zaire, Mobutu Sese Seko, and renamed the country the Democratic Republic of Congo than Westerners began clamoring for Kabila to hold elections. The response of Hoover fellow Robert J. Barro? "You have to be kidding."
In 1987, President Reagan stood before the Berlin Wall and addressed a challenge to the general secretary of the Soviet Union: "Mr. Gorbachev, tear down this Wall!" Ten years later, Hoover fellow Peter Robinson, who drafted the historic address, tells how the speech came about.
At the outbreak of World War II, the United States found itself with a weak, outmoded military and a civilian population utterly unprepared for the shock of total war. Serving as undersecretary of war, Judge Robert P. Patterson mobilized the nation. An appreciation by Keith E. Eiler.
The difference between the income of rich and poor in the United States is growing--and growing dramatically. In talking recently with Hoover fellow Peter Robinson, two experts, Stanford professor and Nobel Prize–winner Kenneth Arrow and Hoover fellow Kenneth L. Judd, agreed about the reasons but disagreed about whether anything should--or could--be done.
The Hoover Institution recently presented an exhibit with a twist. The exhibit: A selection of British posters from Hoover's world-famous poster collection. The twist: The exhibit was curated by Stanford undergraduates. Archivist Elena S. Danielson explains.
In international trade, Hoover fellow Charles Wolf Jr. argues above, deficits don't much matter. Here Milton Friedman and Rose Friedman discuss what does: freedom. A ringing statement of logic and principle.