Hoover welcomes the participants of the 2017 Workshop on Political Economy.
High-Profile Guests, Informative Talks, And A Milestone-Building Dedication: Hoover Hosts Friends And Supporters At The 2017 Fall Retreat
Hoover’s 2017 Fall Retreat—featuring one of the institution’s most distinguished guest speakers ever, the milestone dedication of the David and Joan Traitel Building, and a multi-day series of talks on restoring economic prosperity—was an extraordinary cap on a year of major accomplishments.
The Hoover Institution Spring 2012 Retreat began on Sunday, April 22, 2012, with before-dinner remarks by John Stossel, a commentator on the Fox Business Network, where he hosts Stossel, a weekly program highlighting current consumer issues from a libertarian viewpoint. Before joining Fox, he coanchored ABC’s prime-time news magazine show 20/20. He discussed his new book No, They Can’t: Why Government Fails—but Individuals Succeed, which depicts Stossel’s ideas of “what we’re imprinted to believe and what reality has taught [him].” Stossel, in talking about how people are unsatisfied with the government today and how the free market system works better for our society, stressed how “central planning appeals to people” and how we are “programmed to follow the central planner.”
Despite the economic storm, European voters refuse to let the traditional left take the wheel. By Patrick Chamorel.
Look at the biggest antipoverty success story of recent years—welfare reform—and you might see the makings of a solution to illegal immigration. By Jeffery M. Jones.
The Hoover Institution hosted its annual Board of Overseers’ summer meeting during July 10–12, 2012.
The program began on Tuesday evening with two dinner presentations hosted by John Raisian. Hoover fellows Daniel Kessler and Michael McConnell discussed “Health Care and the Constitution,” with McConnell beginning by speaking to the current health care situation as affected by the Supreme Court’s ruling on the Affordable Care Act and explained the difference between mandates enforced by a penalty versus a tax. Kessler spoke about changing the subsidy formula, Medicaid and Medicare, and the need to “get costs down.”
If there is one really serious intellectual and cultural problem with capitalism, it stems from the lack of a sustained and widely known, let alone accepted, moral defense of the institution of private property rights.
Few doubt, in today’s world, that a society with a legal infrastructure that lacks this institution is in serious economic trouble. The failure to respect and legally protect the institution of private property—and its corollaries, such as freedom of contract and of setting the terms by the parties to the trade—has produced economic weakness across the globe. But many also believe that this institution is not founded on anything more solid than the arbitrary will of the government to grant privileges of ownership (for the latest statement of this position, see Liam Murphy and Thomas Nagel, The Myth of Ownership [Oxford University Press, 2002]).
Without a moral, prelegal defense, the institution of private property, which is the source of a great many benefits to us all, will forever remain vulnerable to the critics, starting with Karl Marx, who said that “the right of man to property is the right to enjoy his possessions and dispose of the same arbitrarily, without regard for other men, independently from society, the right of selfishness.” This essay argues that, contrary to widespread academic sentiments and impressions, the institution of private property rights fully accords with a sensible conception of human morality, indeed, rests on a solid moral foundation.
Liability law has two principal objectives: compensation of parties injured in accidents and deterrence of negligent behavior of potential injurers. Considerable evidence, however, suggests that the current liability system in the United States achieves neither. The system has high transaction costs and fails to compensate injured parties appropriately. There is evidence that liability pressure has distorted firms' incentives for innovation. In the health care sector, liability pressure has led to defensive medicine--precautionary treatments with minimal medical benefit administered out of fear of legal liability.
This essay summarizes recent empirical research on the economic effects of liability-reducing reforms to tort law. The strategy of this research is to compare time trends in economic outcomes from states that adopted law reforms with trends in outcomes from states that did not, controlling for other determinants of the outcomes in question. Differences in trends between the two types of states provide an estimate of the effect of the reforms.
In general, this research suggests that reductions in the level of liability improve productive efficiency. But even if these studied reforms improve efficiency, they may not improve the performance of the system in terms of the compensation goal. The essay concludes with a discussion of the potential effects of a wide range of largely untried reforms to the liability system, some advocating radical changes to the allocation of responsibility for accidental injuries, that seek to address both compensation and deterrence goals.
A 2003 book warning against illegal immigration has now found acceptance. The author explains. By Victor Davis Hanson.
James Kirchick on Let Them In: The Case for Open Borders by Jason Riley
The Scheinman collection brings to life the story of how two friends, a white American and a black Kenyan, helped African democracy bloom. By Tom Shachtman.