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Analysis and Commentary

Wolves make roadways safer, generating large economic returns to predator conservation

by Dominic Parkervia Proceedings of the National Academy of Sciences
Tuesday, June 1, 2021

Measuring the economic benefits conveyed by predators is difficult—often, effects are indirect and operate through complex ecological changes. As a result, debates about the expansion of predators have pit salient costs against more speculative estimates of benefits that might be dismissed as unreliable or ideologically motivated. We quantify the indirect benefits of wolves (Canis lupus) to human lives and property through reductions in deer-vehicle collisions. Moreover, we decompose the effect into two components: changes in prey behavior versus prey abundance. This decomposition is important when effective policy depends on whether hunters can replicate the effects of predators. In the case of wolves, we conclude that human deer hunters cannot.

Co-Authors: Jennifer L. Raynor, Corbett A. Grainger

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A Bill That Costs Too Much, Does Too Little

by Richard A. Epsteinvia Defining Ideas
Monday, September 27, 2021

Biden’s “infrastructure,” a fantasy mix of taxes and subsidies, is a poor second to systematic deregulation.


A Simple Fix Can Bring Revolutionary Change To Health Spending

by Daniel P. Kesslervia The Hill
Sunday, September 26, 2021

Prices for health services in the U.S. are high relative to the rest of the world. For example, a simple MRI scan that costs $1,430 in the U.S. costs around $450 in the United Kingdom, $750 in New Zealand, and $310 in Switzerland. High U.S. prices have been the primary cause of high health insurance premiums in the U.S. for several years. 


Evergrande's Fall Shows How Xi Has Created A China Crisis

by Niall Fergusonvia Bloomberg
Saturday, September 25, 2021

The developer’s collapse isn’t leading to global contagion, but China’s looming economic disaster might.


Joe Biden Wants A New Deal

by David Davenportvia The Washington Examiner
Friday, September 24, 2021

President Franklin Roosevelt’s New Deal was launched nearly 90 years ago, but it is the government model that we live under today. The New Deal dramatically expanded the size and the role of the federal government.

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Law Talk: Ask The Professors!

interview with Richard A. Epstein, Troy Senik, John Yoovia Law Talk With Epstein, Senik & Yoo
Friday, September 24, 2021

Abortion controversies, the immigration debate, and audience questions.

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The Libertarian Podcast: Does A Universal Basic Income Make Sense?

interview with Richard A. Epsteinvia The Libertarian
Thursday, September 23, 2021

Will the federal government ever figure out how to help the poor without breaking the bank?

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GoodFellows: Stable . . . And Stagnant?

interview with John H. Cochrane, Niall Ferguson, H. R. McMastervia Fellow Talks
Thursday, September 23, 2021

Europe’s future includes a post-Merkel Germany, the fallout over the AUSUK technology deal, a shaky NATO alliance post-Afghanistan, Ukraine’s uncertain outlook, plus Russian control of natural gas supplies. Hoover senior fellows Niall Ferguson, H. R. McMaster and John Cochrane discuss the mood on the other side of the Atlantic, as well as President Biden’s UN address and China’s financial reckoning.

Analysis and Commentary

Hope For California -- Housing Edition

by John H. Cochranevia The Grumpy Economist
Thursday, September 23, 2021

California has at last passed the first laws overturning some residential zoning restrictions.

Analysis and Commentary

Who Bears The Burden Of Taxes On Business?

by Alvin Rabushkavia Thoughtful Ideas
Tuesday, September 21, 2021

On August 13, 1996, during the Republican National Convention, a panel was held in honor of candidate Steve Forbes. I was invited to serve on the panel discussing Forbes’s tax plan, which was a slight modification of the original Hall-Rabushka flat tax.


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