Today, Russell Berman reviews the most significant challenges and lessons of the Iran war so far; Orin Kerr provides an update on the Fourth Amendment status of information obtained from Flock cameras; and David Henderson offers a simple guide to building wealth over time, as part of a broader discussion on opportunity in America.
War in Iran
“More than six months after the operation began, the outcome of Operation Epic Fury still remains elusive,” Senior Fellow Russell A. Berman writes for Hoover’s Defining Ideas. “Rapid military success has been followed by inconclusive negotiations.” Berman chronicles several challenges the operation has faced, including a shortage of munitions, a “dearth of allied support,” and Iranian support from China and Russia. Berman sees a critical lesson for Europe in Iran’s launching of missiles at Diego Garcia, a UK-US base 4,000 kilometers from Iran. “Iran is preparing to project power far afield,” Berman says, and “Europe should finally take note.” Offering another lesson from the war, Berman notes that the Iranian “regime has demonstrated its continued and growing willingness to use violence to maintain its domestic grip on power.” Berman concludes that the current focus on constraining the Iranian economy may present the best hope for achieving “the outcome the United States wants.” Read more here.
Law and Policy
In a post to the Volokh Conspiracy blog, Senior Fellow Orin S. Kerr argues that “there is good reason to believe that the Supreme Court’s June ruling in Chatrie v. United States will trigger a rethinking of how the Fourth Amendment applies to automated license plate reader systems such as those provided by Flock Safety.” He notes that last week, “the United States District Court for the Central District of California became the first court I’m aware of to weigh in on whether the use of Flock cameras is a Fourth Amendment search after Chatrie.” That court ruled that in this case, obtaining four photos from Flock cameras was not a search, as it was “not enough of a privacy invasion” to meet that definition. Kerr points out that this is only a trial court decision, and an appeal to the court of appeals is likely. Read more here.
Answering Challenges to Advanced Economies
In this essay, Research Fellow David R. Henderson points out how household wealth increases moderately with age until it produces a surprising number of millionaires. Getting rich fast depends on luck, he says; getting there slowly involves some simple, not-very-secret advice. Henderson discusses wealth-building techniques that depend on patience, education, careful living—assisted by the legendary power of compound interest. Henderson, reflecting on his own career and savings journey, emphasizes that a life that includes personal and financial discipline can still be a satisfying life. Henderson encourages readers to embrace the fact that America is a land of choices (about education, lifestyle, consumption, etc.). He notes the importance of being careful about spending, reaching for a college degree, staying married, and taking prudent risks. And, of course, saving and investing wisely along the way. Read more here.
On the latest episode of Capitalism and Freedom in the Twenty-First Century, Visiting Fellow Jon Hartley and Johns Hopkins professor of applied economics Steve Hanke discuss the monetary challenge of tackling severe inflation.
The Big Idea: The conversation covers Hanke’s career as an academic and policy advisor. The duo also look back at Hanke’s time on President Reagan’s White House Council of Economic Advisers and his role in helping to fight inflation in Eastern Europe, Asia, and South America. Watch or listen here.
California Policy & Politics
In the latest installment of California on Your Mind, Distinguished Policy Fellow Bill Whalen examines whether gubernatorial candidate Steve Hilton can breathe life into the governor’s race by emulating Arnold Schwarzenegger, the last Republican to hold the office. Arnold, of course, sold himself as an action hero, Whalen notes, whereas Hilton would face a Democratic supermajority already firmly lined up against him. Hilton’s idea of “action” so far is to try to “out-populist” his opponent, Xavier Becerra, by offering some policy ideas that might remind voters of Schwarzenegger, such as a campaign to abolish the DMV and cap vehicle registration. Whalen says the momentum of the race leans toward a Democratic victory, in the mold of most recent California elections. But, he notes, the two candidates will meet September 30 for a televised debate—and that’s where the action, if any, will occur. Read more here.
British Politics
At Defining Ideas, Senior Fellow David L. Leal compares the recent Labour party “coup” in London to the Suez Crisis of 1956. Both, he argues, offered proof of profound political dysfunction and national decline. The government of new Prime Minister Andy Burnham arrived surrounded by political gimmickry but seems to have no clear strategy for solving the nation’s longtime problems, Leal says. Among the top issues are the high cost of living and taxes, ballooning debt and welfare spending, and an underfunded military. The Labour regime is no longer able to characterize the problems as Tory missteps, Leal writes. But the political scientist sees a possible way out of the dysfunction: closer British ties with the United States, which remains a dynamic, resilient, and prosperous society. The “special relationship” may be sagging during the Trump years, Leal concludes, but righting Britain is a long-term project that could be aided by a renewal of transatlantic ties. Read more here.
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