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The Commonwealth of Freedom

by Harry C. Boyte, Nancy N. Karivia Policy Review
Saturday, November 1, 1997

It is time to recapture a lost tradition of community-building

Virtual Veritas

by Mark Y. Herringvia Policy Review
Saturday, November 1, 1997

Preserving conservatism’s heritage in cyberspace

Inflation and Its Discontents

by Michael J. Boskinvia Analysis
Saturday, November 1, 1997

This essay discusses the inflation of the 1970s and the disinflations of the 1980s and 1990s. It provides historical and intellectual history perspectives on these events. It argues that the consensus view of economists on inflation and its costs has changed more than on any other subject in the past thirty years. As late as 1980, many economists argued that the cost of inflation was low and that the cost of disinflation so great that it was better to live with 10 or 12 percent inflation than bear the temporarily higher unemployment and lost output that would accompany a disinflation.

Fortunately, Federal Reserve Board chairmen Paul Volcker and Alan Greenspan engineered two rounds of disinflation, first from 12.0 percent to 4.5 percent and then to 2.5 percent. Although there were costs--a severe recession in 1981–82 and a not-so-soft landing in 1990–91--the low and relatively stable inflation of the 1980s and 1990s has been a major factor in a long boom in the United States, two long expansions interrupted by a short, mild recession. And economists' thinking about the costs and consequences of high inflation has shifted to the view that stable low inflation, like the lowest possible tax rates and minimum necessary regulation, is a fundamental pillar of maximizing sustained long-run growth.

Ignoring Taiwan at Our Peril

by Arnold Beichmanvia Hoover Digest
Thursday, October 30, 1997

The mainland wants to rule Taiwan. Taiwan has other ideas. Hoover fellow Arnold Beichman argues that sooner or later there's going to be trouble.

The Marshall Plan

by Peter J. Duignan, Lewis H. Gannvia Hoover Digest
Thursday, October 30, 1997

An essay by Hoover fellows Peter Duignan and the late Lewis H. Gann on the fiftieth anniversary of "the greatest voluntary transfer of resources from one country to another."

Supply-Side Politics

by Thomas Sowellvia Hoover Digest
Thursday, October 30, 1997

If you want to understand politics, argues Hoover fellow Thomas Sowell, look at the supply side--the kinds of people who make politics their career. It's the candidates, stupid.

Stanford Students, Meet the Hoover Archives

by Elena Danielsonvia Hoover Digest
Thursday, October 30, 1997

The Hoover Institution recently presented an exhibit with a twist. The exhibit: A selection of British posters from Hoover's world-famous poster collection. The twist: The exhibit was curated by Stanford undergraduates. Archivist Elena S. Danielson explains.

Judge Robert P. Patterson

The Man Who Mobilized America

by Keith Eilervia Hoover Digest
Thursday, October 30, 1997

At the outbreak of World War II, the United States found itself with a weak, outmoded military and a civilian population utterly unprepared for the shock of total war. Serving as undersecretary of war, Judge Robert P. Patterson mobilized the nation. An appreciation by Keith E. Eiler.

A Black Man Confronts Africa

by Thomas Sowellvia Hoover Digest
Thursday, October 30, 1997

Hoover fellow Thomas Sowell examines a new book, Out of America: A Black Man Confronts Africa. The book is honest, Sowell finds, a quality that by itself is enough to render the volume "almost shocking."

Ronald Reagan in Berlin

Tearing Down That Wall

by Peter M. Robinsonvia Hoover Digest
Thursday, October 30, 1997

In 1987, President Reagan stood before the Berlin Wall and addressed a challenge to the general secretary of the Soviet Union: "Mr. Gorbachev, tear down this Wall!" Ten years later, Hoover fellow Peter Robinson, who drafted the historic address, tells how the speech came about.


Military History Working Group

The Working Group on the Role of Military History in Contemporary Conflict examines how knowledge of past military operations can influence contemporary public policy decisions concerning current conflicts.