In Issues on My Mind: Strategies for the Future, Former Secretary of State George Shultz Explains How to Achieve a Better Future for the United States and the World
Hoover Institution Press today released Issues on My Mind: Strategies for the Future by George Shultz. The book contains some of Shultz’s most compelling analyses on the topics of governance, the economy, energy, drugs, diplomacy, and nuclear security.
What the UK’s split from Brussels means for the future.
As insurers abandon Obamacare exchanges, is the program beginning to unravel?
American politics takes a turn towards protectionism.
How Republicans can repeal and replace Obamacare without unleashing chaos.
For almost three decades the U.S. embargo of Cuba was part of America's cold war strategy against the Soviet bloc. It should have been lifted after that ‘‘war’’ ended since Castro ceased to threaten the United States and its neighbors and adopted the standard rules of international behavior. But inertia, a powerful Cuban American lobby, and misguided politicians set new demands: democracy, improved human rights, and economic reform. When Castro demurred we tightened the sanctions in 1992 and again in 1996 with the Helms-Burton Law. The United States has never committed the resources necessary to overthrow Castro, however, and the pressures we have applied have utterly failed to advance the three objectives. Worse yet, in the post–cold war world the policy and political outlook that sustain it have become a strategic liability. They promote conflict, both within Cuba—where a crisis might draw in the U.S. military—and abroad, as occurred in 1999–2000 after the arrival in Florida of the rafter boy, Elián González. They allow pressure groups to stand in the way of the policy-making process of the U.S. government. For example, the lobby manipulated wishy-washy politicians in 1998–1999 and got the president to turn down a widely supported proposal for a bipartisan commission to conduct the first comprehensive evaluation of the policy in four decades. Finally, the imperialistic Helms-Burton Law alienates allies worldwide and will poison relations between the United States and Cuba for decades to come. Castro will benefit no matter what we do, but on balance he gains more if we maintain the sanctions because they provide a scapegoat for his own repression and economic failures even as they enable him to maintain his cherished global image as the ‘‘scourge of U.S. imperialism.’’ Castro can wage a worldwide campaign against the embargo to bolster his image knowing Washington is too inflexible to change it. Indeed, whenever Washington has lightened up, Castro has tightened up and effectively prevented further improvement. Lifting sanctions need not mean establishing friendly relations with Castro—which he would reject in any event—or supporting his efforts to get international aid without meeting standard requirements. The ultimate responsibility for maintaining this antiquated and potentially dangerous policy falls on politicians who either do not understand the need for, or for political reasons are afraid to support, a new policy to benefit both Americans and Cubans in the post–cold war world.
Regulations and unions are why jobs are leaving America—not free trade.
Senior Fellow Edward Lazear discussed the economy on FOX News Sunday Morning Futures.
Author Tim O'Reilly, founder of O'Reilly Media and long-time observer and commenter on the internet and technology, talks with EconTalk host Russ Roberts about his new book, WTF? What's the Future and Why It's Up to Us.
It’s not possible to have a free society unless its economic resources are operated under a system of private enterprise.
Edward Lazear, the Morris Arnold and Nona Jean Cox Senior Fellow at the Hoover Institution and former chairman of the President's Council of Economic Advisers, offers insights into the GDP and why the market is a better indicator of the future than the GDP. Lazear notes that the market is not a perfect indicator but is the best unbiased predictor of the future.
Raising taxes to fund uncertain benefits far in the future can be worse than rising sea levels...
I agree with Posner that the future of free market policies in the United States has been damaged by the financial crisis, and by the continuing rise in unemployment and slowdown of the American (and world) economy...
Richard Epstein looks at the United Auto Workers’ failure to unionize a Volkswagen plant in Tennessee and what it means for the future of labor.
Rather than wait for a crisis to upend the market, we need to act now to reduce government debts and deficits.
Marc Andreessen, venture capitalist and cocreator of the early web browser Mosaic, talks with EconTalk host Russ Roberts about how success in venture capital is more about winners that you missed, not losers that you backed. Other topics discussed include the rise of the developing world and the smartphone revolution, why Bitcoin is paving the way for innovative uses of the Internet, an optimistic view of the future of journalism, changes in the health care system, and the future of education around the world.
Yesterday I spoke at a panel on “Monetary Policy in the Future,” with Ben Bernanke and Gill Marcus at an IMF event Rethinking Macro Policy.
Economist Martin Feldstein is projecting a future stock market correction based on his belief that long-term bond rates are going to continue to rise.