Wait a minute, isn't this the 21st?...
This session will discuss the historical sources of prosperity in the United States over the past century and will look at the drivers of prosperity over the next century.
George Shultz on how to understand China’s future.
Why Hanoi was not a failure; and whether the focus of the US-China trade deal should be on the theft of American inventions instead of tariffs and trade deficits.
The Coronavirus, Taiwan Elections, and the Trade Deal.
Can the US Hold China Responsible for the Pandemic?
The Coronavirus Cannot Lockdown Power Politics in Asia .
Misha and John Talk with a Congressional Leader on China.
Why Here, Why Now? Why Did The United States Enjoy Dramatic Improvements In The Standard Of Living During The Last Century?
Hoover Institution economists John Cogan, Lee Ohanian, Terry Anderson, and George Shultz examine the causes for and the reasons behind so many improvements being made to the quality of life in the United States over the past century. They analyze the role that free markets, property rights, innovation, regulation, taxes, and national security played in these remarkable achievements.
Will China benefit from the Coronavirus disruption?
Why shouldn’t American universities give conservative ideas their due? By Peter Berkowitz.
Behind the headlines lies an old and basic question: in the clash between Islamism and the nation-state, who will win? By Charles Hill.
The low-tax beginnings of American prosperity
The greatest period of charitable activity occurred in the 19th century, when government spending was small as share of the economy.
According to the standard wisdom in international relations, authoritarian states hold an advantage over democratic states because they can act more quickly and decisively. Yet over the last several centuries, every extended rivalry between an authoritarian state and a liberal one has been won by the liberal state: the Dutch revolt against Spain (late sixteenth and early seventeenth centuries); the 125-year rivalry between England and France (1689-1815); the Anglo-French-American rivalry with Germany (late nineteenth through mid-twentieth century); and the American/Allied rivalry with the Soviet Union after World War II.
This paper shows why liberal democracies have a long-term advantage in international competition with authoritarian states. We argue that this reflects the greater ability of liberal states to establish credible limited government. This ability has both long-term advantages for growth and substantial short-term financial advantages during periods of intense international conflict. The financial advantages allow a liberal democracy to raise massive funds through debt, thus financing larger and longer wars. After developing the theoretical perspective, we study two cases, the 125-year rivalry between England and France and the more recent cold war between the United States and the Soviet Union.
In his new book, The Decadent Society, New York Times columnist Ross Douthat presents a theory: “Western society stopped advancing in the second half of the 20th century."
I am often asked to opine about whether automation will destroy all jobs. Yes, we talk about tractors, which brought farm employment from something like 70% in the US at the beginning of the 20th century to about 3% today... about cars, which put horse drivers out of business. And about trains, which put the canal boats out of business.
[Subscription Required] In March of 1951, a year into the Korean War, the US Treasury offered long-term notes at 2 3/4 per cent in exchange for short-term notes at 2 1/2 per cent. According to a narrative written half a century later by the Richmond Fed, the Federal Reserve supported the price of the long-term notes, but: only up to a limited volume it had agreed on with the Treasury.
The family dynamics at play in Pyongyang and possible changes to American diplomacy post-November election.
How the conflict still shapes our world at the remove of three-quarters of a century.