What do people in the United States and Europe think about the rich? There are several thousand books and articles on stereotypes and prejudices directed at women, people of various races or nationalities, and even the poor. In contrast, there has only been sporadic research into stereotypes about the rich and no published comprehensive, scientific study on the topic—until now.
Ballot box voting is often considered the essence of political freedom. But, it has two major shortcomings: individual voters have little chance of making a difference, and they also face strong incentives to remain ignorant about the issues at stake. “Voting with your feet,” however, avoids both of these pitfalls and offers a wider range of choices.
Innovators who don’t always conform to social or legal norms are changing the world and challenging governments. This book makes the case for embracing “evasive entrepreneurs” and the freedom to be innovative because of the many benefits that individuals, society, and even governments derive from acts of technological creativity.
The study of nuclear weapons is dominated by a single theory — that of the nuclear revolution, or mutual assured destruction (MAD). Although such theorists largely perceive nuclear competition as irrational and destined for eventual stalemate, the nuclear arms race between superpowers during the second half of the Cold War is a glaring anomaly that flies in the face of this logic. In this detailed historical account, Brendan Green presents an alternate theoretical explanation for how the United States navigated nuclear stalemate during the Cold War. Motivated by the theoretical and empirical puzzles of the Cold War arms race, Green explores the technological, perceptual, and ‘constitutional fitness’ incentives that were the driving forces behind US nuclear competition. Green hypothesizes that states can gain peacetime benefits from effective nuclear competition, reducing the risk of crises, bolstering alliance cohesion, and more. He concludes that the lessons of the Cold War arms race remain relevant today: they will influence the coming era of great power competition and could potentially lead to an upsurge in future US government nuclear competition.
As the Federal Reserve struggles to fulfill its mandate in a world of low and falling interest rates, it faces yet another challenge: that of resisting a new threat to its hard‐won independence.
Thanks to crisis‐era changes to its operating procedures, the Fed now enjoys practically unlimited powers of quantitative easing (QE): it can buy as many assets as it likes while still controlling inflation. So far, QE has been a weapon for combating recession. But if certain politicians have their way, the Fed may be forced to use it not for macroeconomic purposes but to finance backdoor spending. That’s The Menace of Fiscal QE.
In his brief but systematic study, George Selgin reviews the movement favoring fiscal QE, shows how it threatens both the Fed’s independence and democratic control of government spending, and counters claims that it offers a low‐cost means for financing such spending. Finally, he suggests a way to guard against fiscal QE without limiting the Fed’s ability to counter slumps
As a presidential candidate, Donald Trump broke not only from the Republican Party but also from the bipartisan consensus on U.S. foreign policy. Calling the Iraq War a terrible mistake and lamenting America’s nation‐building expeditions, Trump evinced little interest in maintaining the traditional form of American leadership of the liberal international order. Instead, Trump’s “America First” vision called for a reassertion of American nationalism on the economic front as well as in foreign affairs.