Two prominent Democratic presidential candidates want to impose “wealth taxes” on millionaires’ holdings. A prominent liberal economist declares that no billionaire ever made their fortune legitimately. John Cochrane, a renowned economist and the Hoover Institution’s Jack and Rose-Marie Anderson Senior Fellow, explains how and why “wealth” became a pejorative term and where we go from here.
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Event
The Hoover Institution Economic Policy Working Group hosted "Terra Incognita: The Economics of a Shrinking World" with Jesús Fernández-Villaverde from the University of Pennsylvania.
April 23, 2026
Working Papers
Economics Working Paper 26127
October 16, 2026
Videos
Fei-Fei Li, the “Godmother of AI,” speaks with Stephen Kotkin about her journey to the frontiers of spatial intelligence.
October 21, 2026 • 0 Min Watch
