Richard Epstein’s Gold Mind Enriches Us With His Ideas On Inequality, Taxes, Politics, And Health Care
Recorded on January 30, 2015
On Uncommon Knowledge, Richard A. Epstein, the Peter and Kirsten Bedford Senior Fellow at the Hoover Institution, discusses inequality, taxes, globalization, free markets, politics, health care, and gay marriage.
How has 9/11 affected our society today? Shortly after 9/11, Uncommon Knowledge host Peter Robinson interviewed Milton Friedman on the economic impact of the September 11 attacks. The recording is titled “Economics and War: The Economic Impact of the War on Terrorism.” The September 11 attacks in New York and Washington have already cost America thousands of lives and billions of dollars in damages. But those are only the direct costs. How severe and how lasting will the impact be on our economy as whole?
It’s not popular right now to question conventional wisdom on sheltering in place, but Dr. Bhattacharya makes a strong case for challenging it, based in economics and science.
Hoover Institution Hosts Conference Examining Patent Development and Usage from Varying Perspectives
In today’s rapidly changing business environment, interactions among patents, innovation, and competition are complex and dynamic.
Understanding the Federal Budget and Moving toward Economic Prosperity.
Corporate taxes already drive U.S. companies offshore. The administration should think twice before making matters even worse. By Peter Robinson.
Reforming current legal immigration and refugee legislation.
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.