The intractability of poverty has been recognized since at least the time the Deuteronomist wrote, “The poor will never cease to be in the land.” Explanations vary: ill favor of the gods, deficient natural endowments, personal defects, the culture of the poor, external circumstances such as a lack of economic opportunity, some type of oppression—all have been popular options. read more »
Most discussions of our slow economic growth includes a seemingly compulsory demand for increased public capital spending, so-called infrastructure spending or simply “roads and bridges.” Both Donald Trump and Hillary Clinton promise increased public capital spending on their websites. Larry Summers made perhaps the best case for public spending when he claimed that our failure to invest in public capital creates the “worst and most toxic debts.” read more »
After Trump made a recent speech in Milwaukee in which he directly asked for black votes, I was asked to write a about it. My piece is now online in City Journal and is called “Trump’s Pitch to Blacks.” read more »
Summer is usually a time for light reading, and for the most part, I indulged the usual array of historical novels, science fiction as well as my passion for ancient history. But two compelling books out this year led me to more somber thoughts about the prospects for the decline and devolution of western society. read more »
“Old in error,” writes historian Kevin Starr, “California remains an American hope.” Historically, our state has been a beacon to outsiders seeking a main chance: from gold miners and former Confederates to Midwesterners displaced by hardship, Jews seeking opportunity denied elsewhere, African Americans escaping southern apartheid, Asians fleeing communism and societal repression, Mexicans looking for a way out of poverty, counter-culture émigrés looking for a place where creation can overcome repression. read more »
Yes, Jay Gould was a bad guy. But at least he helped build societal wealth. Not so our Silicon Valley overlords. And they have our politicians in their pockets. read more »
Some time back my brother recommended I watch the documentary film Medora, about a high school basketball team from rural Southern Indiana. I finally got around to doing it.
Someone described this film as an “inverse Hoosiers“, which is an apt description. Hoosiers is a fictional retelling of the Milan Miracle, the legendary story of how tiny Milan High School (enrollment 161) won the state’s then single-class basketball championship in 1954. read more »
The nomination of Hillary Clinton has been secured, but the future of the Democratic Party is far from certain. Despite the patina of unity at the end, the Democrats, like their GOP adversaries, seem divided as to their future direction. Each party is being pulled to the extremes by an increasingly unruly base which regards its own establishment as a cesspool of corruption, influence-peddling and naked opportunism. read more »
Is long term privatization of government assets in the form of leases or concessions a good idea?
The answer is not Yes or No but rather What and How.
Done right, long-term privatization can be a great thing to the public. But given the multi-decade nature of some of these deals, the risk of getting it wrong is high. read more »
In the latest Quinnipiac poll, Hillary Clinton and Donald Trump are tied in battleground Ohio. This suggests a very close race in Ohio in the fall. Economic issues, especially trade, led many former Democrats to cross party lines to support Trump in the Republican primaries. Many who hadn’t voted in recent elections joined them. We’re likely to see a repeat of this in November unless Democrats change their trade policies. read more »