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Talk of the Tower, Spring 2012

Talk of the Tower, Spring 2012

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Published by Hoover Institution
A quarterly newsletter featuring the activities of the Hoover Institution and commentary from its fellows and task forces.
A quarterly newsletter featuring the activities of the Hoover Institution and commentary from its fellows and task forces.

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Categories:Types, Brochures
Published by: Hoover Institution on Mar 30, 2012
Copyright:Traditional Copyright: All rights reserved


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ideas defning a ree society 
oover’s Russell Roberts may look and sound like his ellow scholars, but there aren’tmany economists whose rap music videos have exceeded fve million YouTube views.His two—
 Fear the Boom and Bust 
 Fight of the Century,
created with collaborator JohnPapola in 2010 and 2011—depict economist John Maynard Keynes squaring o with ree-market proponent F. A. Hayek. Both videos portray the Keynesian versus Austrian schools oeconomics in an entertaining and approachable way. A third rap video is in the works.“What’s amazing to me is the two (rap videos) combined still get about 5,000 views every day,months ater their release,” Roberts said, adding that many middle and high school teachersuse them in the classroom.
continued on page 8
From h diror’s dsk
Page 2 
Formr d hair Alan Grnspan joins blu-ribbon onomissa Hoovr onrn
Page 3 
Rading and riing abou Iran
Page 4
On h road again
Page 5 
Rboo dral rol in K–12duaion, ask or says
Page 6 
Hoovr llo Mihal MFaulonfrmd US ambassadoro Russia
Page 10 
Hoovr rivs uniqu porraiollion rom Brnard LSharz Foundaion
Page 10 
Rird Admiral Gary Roughadnamd AnnnbrgDisinguishd Visiing Fllo
Page 10 
In mmoriam
Page 11
of the
a quarterly publication of the hoover institution, stanford university
sg 2012
Using new media to teacheconomics
In a lineup of Hoover scholars, could you identify the rapper? the novelist?the Internet talk show host? Here’s a hint: They’re all the same fellow.
   P   h  o   t  o  s  c  o  u  r   t  e  s  y   R  u  s  s  e   l   l   R  o   b  e  r   t  s
Hoover Institution
As a policy-oriented enterprise
on the campus o a major research university, the Hoover Institution seeks to deploy its uniqueintellectual resources toward practical, timely application or the betterment o our nation and our world.In recent years, our novel approach has incentivized extraordinary scholars to combine eorts within academicteams—or “virtual aculties”—with specifc objectives defned by the Institution and each team’s members. Thismodel, deploying Hoover ellows and other scholars to work together on commonly defned, ully integratedtopics and projects, has been a resounding success. I am elated that our culture at Hoover has moved ormallyto include these scholarly orums as part o the working environment o the Institution.Initially, these groups were unded through one-time grants and contributions. Now, because o their enormoussuccess and the act that we wish to continue wholeheartedly with these research initiatives, we are moving tobuild them into our permanent planning going orward.We plan to create an entity that will be known as
 Ideas and the Public Interest,
providing our generousunderwriters the opportunity to invest in a specifc academic team or to support
 Ideas and the Public Interest 
generally. Funds contributed to generally support
 Ideas and the Public Interest 
will serve as a source o desiredincremental unds as needed or some individual teams, and as seed unding or the launch o new initiativesas restricted unding is raised rom early perormance success.By using academic and administrative structures already in place, our academic teams leverage preciousresources to create disproportionate value in the orm o ocused, scholarly work on prevailing policy issues.Through
 Ideas and the Public Interest,
Hoover and its unsurpassed community o scholars ormally integratethis collective approach to applied scholarship or the greater good.John Raisian
 Tad and Dianne Taube Director 
director’s desk
Former Fedchairman AlanGreenspan joinsblue-ribboneconomistsat Hoover conerence
ideas defning a ree society 
ormer Federal Reserve chairman Alan Greenspan visited the Hoover Institution in December to meet with a blue-ribbon group o economists concerning the stagnant economy.Organized by Hoover ellows John Taylor and Lee Ohanian, the conerence, entitled RestoringRobust Economic Growth in America, brought together economists with extensive research andpolicy experience to address issues such as unemployment, policy uncertainty, long-term reorms,and monetary and fscal problems.In a lunchtime panel with distinguished ellow George P. Shultz and University o Chicagoproessor John Cochrane, Greenspan argued that the H1B immigration quota is limiting Americanproductivity and contributing to our economic problems. Calling it one o the worst policies inAmerica, Greenspan said that the immigration quota limits the number o skilled workers enteringthe United States, limits competition, and contributes to making the United States a country ohaves and have-nots.“Those who would compete with Americans with high skills “are not permitted to stay in thiscountry,” Greenspan said. Thus, incomes o Americans with those skills are higher than theywould otherwise be, which “is one o the reasons why we’ve got such a tremendously skeweddistribution o income in this country.”Greenspan served as chairman o the Federal Reserve rom 1987 to 2006: the second-longesttenure in the position. Only William McChesney Martin Jr. served longer, rom April 2, 1951, toJanuary 31, 1970.
continued on page 7 
HOOVeR cOnFeRence
From left: Former Federal Reserve chairman Alan Greenspan, distinguished fellow George Shultz,and professor John Cochrane discuss ways to reinvigorate an anemic American economy.

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