Business & Labor

by Michael Spencevia Project Syndicate
by John H. Cochranevia Wall Street Journal
Bank of America
interview with Stephen Habervia Wall Street Journal Live
Business Abstract
by Lee Ohanian, Edward Prescottvia Wall Street Journal

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In the News

Chase Says Arbitration ‘Provides Better Outcomes’ For Consumers. Nope, Say Researchers

quoting Amit Seru via The Los Angeles Times
Wednesday, June 5, 2019

JPMorgan Chase is notifying more than 40 million credit card holders that from now on they’ll have to arbitrate any disputes, forgoing the option of filing a lawsuit or joining class-action suits. Although an opt-out is possible (but difficult), this places Chase alongside many other businesses insisting arbitration is a better alternative for consumers than litigation.

In the News

Restoring IP Rights After the Destructive, Unjust Antitrust Rendering In FTC V. Qualcomm

quoting Richard A. Epsteinvia IP Watchdog
Tuesday, June 4, 2019

If a judge ever botched an antitrust case involving patents, the prize may go to federal district Judge Lucy Koh for her ruling in favor of the Federal Trade Commission (FTC) in its antitrust action against Qualcomm.

Analysis and Commentary

Labor Income For Top 0.1% Exceeds Income From Capital

by David R. Hendersonvia EconLog
Monday, May 27, 2019

How important is human capital at the top of the U.S. income distribution? Using tax data linking 11 million firms to their owners, this paper finds that entrepreneurs are key for understanding top income inequality. Most top income is non-wage income, a primary source of which is private “pass-through” business profit. These profits—which can include labor income disguised for tax reasons—accrue to working-age owners of closely-held, mid-market firms in skill-intensive industries.

Analysis and Commentary

Clemens On Minimum Wage

by John H. Cochranevia The Grumpy Economist
Tuesday, May 21, 2019

Jeff Clemens offers a "roadmap for navigating recent research" on minimum wages in a nice CATO policy analysis. A review and a doubt.


California’s Proposition 13: Do Likely Changes Forebode Higher Business Property Taxes?

by Lee Ohanianvia California on Your Mind
Tuesday, May 21, 2019

Proposition 13, which has defined the rules for California property taxation for forty years, will likely change for businesses, and perhaps as soon as 2021. A ballot measure will appear on California’s November 2020 ballot that would fundamentally change property taxes on non-agricultural businesses with more than fifty employees.


Will Robots Take Over American Jobs? Elizabeth Cobbs And James Shelley Discuss Documentary, Claim “We Fear Things That Make Our Lives Better”

interview with Elizabeth Cobbsvia WGN Radio
Saturday, May 11, 2019

Hoover Institution fellow Elizabeth Cobbs and James Shelley discuss their new PBS documentary, CyberWork and The American Dream.

In the News

International Pushback Disrupts Amazon’s Momentum To Expand Its Empire Worldwide

quoting Michael R. Auslinvia Washington Post
Friday, May 10, 2019

The e-commerce giant Amazon has bet big on India, even boasting on a company website last year about its ability to deliver to a remote Himalayan village 11,500 feet above sea level. The company recently debuted a version of its e-commerce site in Hindi, a move Amazon’s top India executive said was part of its effort to attract “the next 100 million customers,” in what analysts described as the company’s most important market abroad.

Policy Seminar with Darrell Duffie

Thursday, April 18, 2019
Annenberg Conference Room, Lou Henry Hoover Building

Dean Witter Distinguished Professor of Finance at the Stanford Graduate School of Business and Senior Fellow at the Hoover Institution, discussed “Cyber Runs.”


Policy Seminar with Ellen McGrattan

Wednesday, April 17, 2019
Annenberg Conference Room, Lou Henry Hoover Building

Ellen McGrattan, visiting fellow at the Hoover Institution, professor of economics at the University of Minnesota, director of the Heller-Hurwicz Economics Institute, and consultant at the Federal Reserve Bank of Minneapolis, discussed “Intangible Capital and Measured Productivity.”


Policy Seminar with Chirantan Chatterjee

Tuesday, April 2, 2019
Annenberg Conference Room, Lou Henry Hoover Building

Chirantan Chatterjee, Hoover Institution national fellow, and associate professor in business policy and economics at the Indian Institute of Management, Ahmedabad, discussed “Intellectual Property Regimes and Wage Inequality.” 



Economic Policy Working Group

The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple