In a recent weekend interview with the Wall Street Journal, Hoover Institution senior fellows John Cogan and Kevin Warsh concluded with the properly optimistic, and laudable assertion that the U.S. can “again become a ‘beacon to the world’ if its leaders ‘choose to empower the individual, encourage the development…of new ideas, and ensure the fidelity of institutions to their mission.” And while they arguably overstate the notion that the U.S. isn’t still the world’s “beacon” given the basic truth that a bad day here is an amazing day anywhere else, who but a stubborn fool would suggest there’s not room for improvement? Of course there is, and the scholars have written a paper (“Reinvigorating Economic Governance”) meant to put the U.S. on the path from amazing to spectacular.
Without having read the paper yet, it’s not unreasonable to at least question some of the suggestions offered within the interview. In particular, it’s hard not to hope that at least some of the suggestions will come in the form of reflection, or self-critique.
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