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The Third Pillar: How Markets and the State Leave the Community Behind

by Raghuram Rajanvia Books by Hoover Fellows
Wednesday, June 5, 2019

Raghuram Rajan, distinguished University of Chicago professor, former IMF chief economist, head of India's central bank, and author of the 2010 FT-Goldman-Sachs Book of the Year Fault Lines, has an unparalleled vantage point onto the social and economic consequences of globalization and their ultimate effect on our politics. In The Third Pillar he offers up a magnificent big-picture framework for understanding how these three forces--the state, markets, and our communities--interact, why things begin to break down, and how we can find our way back to a more secure and stable plane. 

Interviews

Russ Roberts On Life As An Economics Educator

interview with Russ Robertsvia Medium
Wednesday, June 5, 2019

Hoover Institution fellow Russ Roberts examines where classical liberalism has gone wrong, if dropping out of college is overrated, and what people are missing from the Bible.

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

Boudreaux's Export Error

by David R. Hendersonvia EconLog
Tuesday, June 4, 2019

In an otherwise good critique of a recent op/ed by Steve Moore, titled “Steve Moore Is No Free Trader,” economist Don Boudreaux makes his own error. He writes: First, exporting, as such, no more enriches a country than does vandalism or arson. Exporting enriches a country only insofar as the people of that country receive imports in return for their exports. Unlike Mr. Moore, every true free trader understands that exports lead to growth only if and to the extent that exports bring in more imports.

In the News

Raghuram Rajan's Mission To Fix Capitalism From The Inside

featuring Raghuram Rajanvia Forbes
Monday, June 3, 2019

Raghuram Rajan has been tipped as a future Governor of the Bank of England but for now the economist is focused on bigger challenges - reshaping the relationship between capitalism, democracy and communities.

Interviews

Raghuram Rajan: How The Loss Of Community Threatens Society

interview with Raghuram Rajanvia Big Brains Podcast
Monday, June 3, 2019

Hoover Institution fellow Raghuram Rajan discusses his new book, The Third Pillar, and explains why our communities could hold the answer to many of society’s problems.

HousingFeatured

How Long Does It Take To Build A New Community In California? 25 Years And Still Counting

by Lee Ohanianvia California on Your Mind
Tuesday, June 4, 2019

The year is 1994. Only about one in four American homes has a personal computer. The internet is virtually unknown. Blockbuster Video rentals are the go-to source for home entertainment. And a development group submits plans to California regulators for a new 22,000-home planned community about 40 miles northwest of Los Angeles. With luck, now that all lawsuits have been resolved, the first homes will go on sale in 2021—27 years after the application process started.

Interviews

David Mulford On India, China, And Economic Trends

interview with David C. Mulfordvia The Federalist
Monday, June 3, 2019

Hoover Institution fellow David Mulford weighs in on populism in Indian elections, major concerns over relations with China, Brexit, and his time as US Ambassador to India as it emerged as an economic power.

Interviews

Russ Roberts Brings Economics To Life

interview with Russ Robertsvia Jive Talking
Monday, June 3, 2019

Hoover Institution fellow Russ Roberts discusses economics, EconTalk, and much more.

Analysis and Commentary

Craig Richardson On The Cuban Tragedy

by David R. Hendersonvia EconLog
Monday, June 3, 2019

Along with a dozen other professors visiting Cuba, I was there for an educational program sponsored by the U.S.-based Council on International Educational Exchange (CIEE). The theme was Cuba’s economy, society, and political system. CIEE’s marketing brochure promised a mixture of academic lectures, cultural experiences and travel to various parts of the country. Along with North Korea, Cuba is the last of the Communist regimes to actively discourage free markets, private property rights, and profit making. Although I traveled there with an open mind, I was about to experience a country in which the state’s overarching vision of equality for all has vanquished nearly every aspect of entrepreneurial dreams—and many normal human dreams, as well.

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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