Uncommon Knowledge

Victor Davis Hanson on grand strategy, immigration, and the 2016 presidential election

Recorded on September 22, 2016 Hoover Institution fellow Victor Davis Hanson discusses Russia, China, and the danger of American withdrawal from the world stage. In addition, Hanson talks about immigration and assimilation in the United States throughout time. Hanson notes that, when immigrants assimilate and embrace the United States, then immigration works and strengthens us, but that when immigrants seek to separate themselves and reject US values and culture, then immigration becomes detrimental. Hanson ends the interview talking about the 2016 presidential candidates and election.

What's wrong with the American economy?

The American economy’s biggest problem is growth. To achieve growth, Hoover Institution fellow John Cochrane argues, America needs to simplify the tax code and deregulate the economy. He discusses how government agencies must conduct serious, transparent, and retrospective cost-benefit analyses, get rid of special interests, and remove disincentives if they want businesses to flourish. Cochrane notes that the US economy needs more innovation, deep tax reform, and better regulations to unleash growth. When business owners can depend on good policy and not pay for play, they will start and invest in their companies and the economy will expand. Cochrane discusses the future of American economic growth and how he believes it can be fixed. Cochrane encourages us to have more faith in democracy because if the right policies are put in place the economy will quickly improve and everyone will be better off. According to Cochrane, "America needs better policy and governance under the rule of law." He also discusses the benefits of lowering and even ending corporate taxes to reduce price inflation and outsourcing jobs overseas. Cochrane points out that the ability to bring people together to get good bills through is what a great politician like Lincoln did; it is hoped that the next president will do this. Robinson and Cochrane further debate technological innovation, the role of robots in the economy, and whether Americans need to be concerned about robots taking over our jobs.

Wealth, Poverty, and Politics

Hoover Institution fellow Thomas Sowell discusses inequality and how it is part of the human condition. Sowell notes that political and ideological struggles have led to a dangerous confusion about income inequality in America. We cannot properly understand inequality if we focus on the distribution of wealth and ignore wealth production factors such as geography, demography, and culture. What is important is not inequality but human capital; once human capital is unleashed it creates an enormous amount of wealth for people of all classes. In addition there needs to be a sense of humility and gratitude for the generations that have gone before us for the prosperity we have today.