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A Euroskeptic Speaks Out

by Gary S. Beckervia Hoover Digest
Friday, October 30, 1998

The euro is coming—and with it more centralized power for the bureaucrats in Brussels. Nobel laureate and Hoover fellow Gary S. Becker wishes it weren’t so.

Milton and Rose D. Friedman, 1937

Tribute on the Quad

by Milton Friedman, Robert J. Barro, Gary S. Becker, Rose D. Friedman, Walter B. Wristonvia Hoover Digest
Friday, October 30, 1998

Milton and Rose D. Friedman recently published their memoirs, Two Lucky People. Herewith tributes paid to the Friedmans at the dinner the Hoover Institution hosted in their honor on the Stanford Quad.

The Battle over the Battle of the Bulge

by Henry I. Millervia Hoover Digest
Friday, October 30, 1998

A new fat-free cooking oil called olestra could radically reduce fat consumption in American diets. Why is the government restricting its use? Hoover fellow Henry I. Miller reports.

Legends of the Sprawl

by Steven Haywardvia Policy Review
Tuesday, September 1, 1998

Liberals have a new scapegoat for their urban failures: suburban growth

The Congressional Response to Social Security Surpluses, 1935-1994

by John F. Coganvia Analysis
Saturday, August 1, 1998

Congress has before it more than two dozen proposals for reforming Social Security. Many proposals call for the creation of a large reserve fund within the federal budget. This fund is necessary, proponents argue, to keep the Social Security program solvent when the baby boom generation retires and begins to draw its benefits.

This essay presents a historical examination of the federal government's policy toward Social Security reserves. The historical review casts doubt on the viability of sustaining a large reserve policy. From time to time throughout the program's history, policy decisions, wartime economic conditions, and business-cycle expansions have created large reserves or projections thereof. Those reserves have generated pressures for greater spending. Congress has invariably responded by raising benefits or expanding eligibility.

These results contain an important implication for Social Security reform. Unless a method can be found for altering congressional behavior from its sixty-year norm, any attempt to ensure Social Security's solvency by building a large trust fund reserve will likely prove futile. A large reserve will lead to higher spending. In doing so, it will add to the burden of government borne by both current and future generations of taxpayers.

Let ’Er Rip

by Gary S. Beckervia Hoover Digest
Thursday, July 30, 1998

Ever since Joseph Schumpeter’s work at the turn of the century, economists have understood that entrepreneurial activity—what Schumpeter called creative destruction—creates economic growth. Nobel laureate and Hoover fellow Gary S. Becker just wishes a few of the world’s finance ministers understood it too.

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The Era of Big Government Ain’t Over

by Peter Brimelowvia Hoover Digest
Thursday, July 30, 1998

These days it’s difficult to find an avowed socialist. But Washington is crawling with neosocialists—in both parties. By Hoover media fellow Peter Brimelow.

Václav Klaus

A Nation Transformed

by Václav Klausvia Hoover Digest
Thursday, July 30, 1998

After the fall of the Berlin Wall, the Czech Republic made arguably the most successful transition to democracy and free markets in Eastern Europe. How? By managing “the gap between expectations and reality.” By former prime minister Václav Klaus.

Another Country

by Michael Baronevia Hoover Digest
Thursday, July 30, 1998

Hoover media fellow Michael Barone first visited Argentina a dozen years ago. When he returned recently, he discovered that he was in another country—one that free markets had transformed.

The Modern State as an Occasion of Sin

by Jennifer Roback Morsevia Hoover Digest
Thursday, July 30, 1998

The usual defense of the welfare state? That whatever its economic inefficiencies, it accomplishes a great deal of good. Hoover fellow Jennifer Roback Morse begs to differ. A rigorous essay in economics—and moral theology.


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