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Milton Friedman, Soothsayer

by Peter Brimelow, Milton Friedmanvia Hoover Digest
Thursday, April 30, 1998

Boom? Bust? Inflation? Deflation? Nobel laureate and Hoover fellow Milton Friedman peers into the future, making predictions on price levels in the United States, stagnation in Japan, and the new currency in Europe. A freewheeling discussion with Hoover media fellow Peter Brimelow.

How Fares the American Worker?

by David R. Hendersonvia Hoover Digest
Thursday, April 30, 1998

Conventional wisdom says real income for American workers has stagnated or even fallen. Hoover fellow David R. Henderson says think again.

Reengineering College Student Financial Aid

via Analysis
Wednesday, April 1, 1998

Our society continues to assign considerable value to higher education and, for the most part, desires to have it in the reach of deserving students. Differences arise, however, over the definition of deserving and who should pay for that education. When limited financial resources are available from government as well as from the private sector, student financial aid resources must be used efficiently. The congressional elections of 1994 and 1996 seem to indicate that the majority of the electorate desires to downsize big government, with its bureaucracy and red tape, and to bring decisions on policy and resource utilization closer to the affected populations and the taxpayers who must finance them.

The model presented in this essay seeks to assign to the three sources of student financial aid--the federal government, state governments, and the institutional and private sector--responsibility for helping to fund specific college costs that students and their parents cannot pay. The roles stipulated in the model for federal and state government adhere to the provisions of the United States Constitution. More than $50 billion is awarded each year in student financial aid; $35 billion of that comes from the federal treasury so federal programs receive particular attention.

Reducing the multiplicity of federal student aid programs will certainly be challenged by those who fear that their largesse from Washington will diminish. Resistance to the changes proposed in this essay can be expected, including the argument that these programs have worked well over time and simply need more funding to make them even better. This essay presents what it is hoped are compelling reasons for reengineering all student financial aid now. The changes will bring about greater effectiveness, efficiency, and equity.

Can-Do Unions

by Stephen Goldsmithvia Policy Review
Sunday, March 1, 1998

A Republican mayor learns that competition brings out the best in government workers

Transforming Arkansas Government

by William D. Eggersvia Policy Review
Sunday, March 1, 1998

William D. Eggers on private efforts to streamline Arkansas’s wide-bodied state government

Broken Cities

by Steven Haywardvia Policy Review
Sunday, March 1, 1998

Liberalism’s urban legacy

India: Asia's Next Tiger?

via Analysis
Sunday, February 1, 1998

India, a rare democracy in the third world, is widely perceived to be a political success, despite its economic failures. India's poor choice of economic policies, however, has a political motivation. Getting elected has required targeting tangible spoils to an increasingly well-organized, but fractured, electorate. Political patronage was the stimulus for interventionist economic management, eventually producing massive fiscal deficits. When the danger of defaulting on foreign debt became a reality in 1991, the country's leadership began to reevaluate the flawed economic policies without considering the flawed system of governance that accompanied and sustained the policy matrix. Patronage politics spawned corruption; money, muscle, or influence propelled public services and government, making the system of public administration as incompatible with liberalism as the system of economic regulation. Political and administrative imperatives impelled the country to economic policies that failed. Economic reform will not be complete until the underlying administrative imperatives are transformed by accountable governance.

Illustration

Why Fragile Economies and Floating Currencies Just Don't Mix

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

The currency crisis in Thailand showed how irresponsible government policy could thwart an economic boom. Hoover fellow and Nobel Prize winner Gary S. Becker argues that developing nations can avoid such economic shocks by abandoning free-floating exchange rates.

The Rich—and Poor—Are Getting Richer

by David R. Hendersonvia Hoover Digest
Friday, January 30, 1998

The gap between rich and poor is neither as large nor as ominous as many would have us believe. By Hoover fellow David R. Henderson.

A Novel Suggestion

by Martin Andersonvia Hoover Digest
Friday, January 30, 1998

Sometime early in the next century the federal government is likely to begin taking in more money than it spends, going into surplus for the first time in decades. What to do with the billions of dollars that will begin piling up? Hoover fellow Martin Anderson has a suggestion.

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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