July 28, 2025 • 6 mins
Today, Joshua Rauh testifies before the House Ways and Means Committee on the passage of the One Big Beautiful Bill Act and the economic reforms Congress should pursue from here; Marianna Kudlyak and coauthors share findings from their study of minimum wage increases and posted job vacancies; and Peter Berkowitz pushes back against arguments that American higher education does not need substantial reforms to restore traditional liberal education.
Hoover Daily Report | July 28. 2025
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Episode Transcript
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>> Male Speaker (00:00):
Welcome to the Hoover Daily Report.
Ideas Advancing Freedom,it's Monday, July 28, 2025.
>> Female Speaker (00:06):
Today, Joshua Rao testifies before the House Ways and
Means Committee on the passage ofthe One Big Beautiful Bill Act and
the economic reforms Congressshould pursue from here.
Marianna Kudlyak and co authors sharefindings from their study of minimum wage
increases and posted job vacancies, and
Peter Berkowitz pushes back againstarguments that American higher education
(00:28):
does not need substantial reforms torestore traditional liberal education.
>> Male Speaker (00:33):
The One Big Beautiful Bill, Delivering for the American Economy
in testimony presented at a field hearingof the House of Representatives Committee
on Ways and Means held atthe Ronald Reagan Presidential Library,
Senior Fellow Joshua D Raoadvanced four key points.
Quote, economic growth is essentialto creating opportunities for
American families.
(00:54):
Sustained economic growth requiresa tax code that rewards work,
savings and investment.
Key tax provisions inthe One Big Beautiful Bill Act
will strengthen incentives to work,save and invest and
additional growth focused policiesare needed to ensure economic dynamism.
Looking to items Congress has not yetacted on, Rao argued that a key priority
(01:15):
for lawmakers should be to reducethe regulations that stifle productivity,
entrepreneurship and innovation,including cumbersome permitting rules,
incumbent protectinglicensing requirements, and
rigid labor regulations thatraise the cost of hiring.
Rao concluded by calling onlawmakers to recognize their shared
(01:36):
responsibility to pursue policiesthat improve incentives and
rein in borrowing to preserveprosperity for future generations.
>> Female Speaker (01:45):
Minimum Wage Increases and Vacancies,
a new paper from Marianna Kudlyak and
co authors Murat Tasci, andDidem Tuzemen uses a unique dataset and
methods to examine the effects of minimumwage increases on posted job vacancies.
The study focused on posted vacancies inoccupations with a larger share of workers
earning close tothe effective minimum wage.
(02:07):
The authors estimate that, quote,a 10% increase in the state level
effective minimum wage reducesvacancies in these occupations,
which relative to the rest,by 2.4% in the same quarter and
the cumulative effect is aslarge as 4.5% a year later.
The authors note that their focus onvacancies allowed them to highlight
(02:27):
changes in firms hiring intentions inresponse to minimum wage increases.
The study shows thatvacancy reducing effects of
minimum wage increases driven byemployers retracting or not posting
job listings start three-quartersprior to their implementation.
>> Male Speaker (02:42):
Beware rationalizations for leaving universities as they are,
writing at Real Clear Politics,
Senior Fellow Peter Berkowitz examinesthe ongoing issue of ideological imbalance
in American higher education,particularly among professors.
To conservatives, Berkowitz writes,enhancing viewpoint diversity was
about more than fairness as thepresentation of varied points of view is
(03:06):
an integral part of liberaleducation traditionally understood.
Berkowitz maintains that in a healthierpolitical climate, universities would hire
with a view not to political convictionsbut rather to subject matter expertise.
Today, however, he suggests that someattention to political sensibility is
necessary to correct the all butmonolithic progressive edifice that
(03:29):
faculty and administrationhave built over many decades.
Still, the former law professor arguesthat no compromise should be made on
intellectual excellencewhen hiring conservatives.
Academia simply must reject, quote,the self serving equation of intellectual
excellence with the affirmationof progressive opinions.
>> Female Speaker (03:49):
Reagan Foundation honors Stanford Professor Jennifer Burns,
veteran scholar and historian, withthe Age of Reagan Conference Book Prize.
The Ronald Reagan Presidential foundationand Institute announced today that
Stanford University historian and HooverInstitution Research Fellow Jennifer Burns
has been awarded the 2025 Age ofReagan Conferen Book Prize for
(04:09):
her critically acclaimed biographyMilton Friedman, The Last Conservative.
The prize honors outstanding scholarshipthat deepens understanding of
Ronald Reagan's presidency and the broaderage of Reagan in modern US History.
Announcing the prize, the foundation andInstitute commended Burns for illuminating
how Friedman's ideas on inflation, limitedgovernment and economic freedom resonate
(04:31):
with Reagan era conservatism while shapingtoday's dialogues on markets and liberty.
Burns will deliver remarks duringthis week's Age of Reagan Conference,
to be held July 30 to August 1st atthe Ronald Reagan Presidential Library in
Simi Valley, California.
>> Male Speaker (04:46):
Joseph Torigian's The Party's Interests Come
first featured inthe Liberal Patriot in China Talk.
Research fellow Joseph Torigian's recentlypublished biography of Xi Zhongxun,
father of Chinese autocrat Xi Jinping,
continues to receive critical acclaimacross a variety of publications.
The editors of the popular substackthe Liberal Patriot write that Torigian's
(05:08):
biography, quote, tells us somuch about not just Xi Jinping's father,
an incredible character in his own right,but also the history and development
of the Chinese Communist Party, orCCP and state in the 20th century.
And of course, Xi himself.
At ChinaTalk, another popular substack,Jordan Schneider and Phoebe Chao write
(05:28):
that Torigian's book, quote,is a monumental scholarly achievement,
easily a contender forone of the best China books of the decade.
Torigian joined ChinaTalk for an interviewon the book where he discussed the purpose
of his biography, his methodology foruncovering hidden party history, what
the life of Xi Zhongxun reveals about theCCP and its current head, Xi Jinping and
(05:50):
the role of suffering in paradoxicallystrengthening loyalty to the party.
>> Female Speaker (05:56):
Featured from the Hoover Library and Archives,
Conservatism Digital Collection,the Hoover Institution Library and
Archives offers a digitizedcollection of more
than 300 items fromthe history of conservatism.
The collection features manyposters from conservative and
anti-communist political groupsin Europe and the United States.
Additionally, numerousepisodes of William F.
(06:17):
Buckley Jr's televisionprogram Firing Line,
dealing with American conservatismare included in this collection.
>> Male Speaker (06:24):
That's your Hoover Daily report for Monday, July 28th, 2025.
Each weekday we bring you research,analysis and commentary focused on public
policy, national security, and the ideasshaping American society and government.
The Hoover Institution at StanfordUniversity is grounded in constitutional
principles with a commitment tosustaining the safeguards of the American
(06:46):
way of life.
Thank you for listening.
For links to all the articles andinterviews mentioned today,
visit hoover.org/hdr.
Welcome to the Hoover Daily Report.
Ideas Advancing Freedom,it's Monday, July 28, 2025.
>> Female Speaker (00:06):
Today, Joshua Rao testifies before the House Ways and
Means Committee on the passage ofthe One Big Beautiful Bill Act and
the economic reforms Congressshould pursue from here.
Marianna Kudlyak and co authors sharefindings from their study of minimum wage
increases and posted job vacancies, and
Peter Berkowitz pushes back againstarguments that American higher education
(00:28):
does not need substantial reforms torestore traditional liberal education.
>> Male Speaker (00:33):
The One Big Beautiful Bill, Delivering for the American Economy
in testimony presented at a field hearingof the House of Representatives Committee
on Ways and Means held atthe Ronald Reagan Presidential Library,
Senior Fellow Joshua D Raoadvanced four key points.
Quote, economic growth is essentialto creating opportunities for
American families.
(00:54):
Sustained economic growth requiresa tax code that rewards work,
savings and investment.
Key tax provisions inthe One Big Beautiful Bill Act
will strengthen incentives to work,save and invest and
additional growth focused policiesare needed to ensure economic dynamism.
Looking to items Congress has not yetacted on, Rao argued that a key priority
(01:15):
for lawmakers should be to reducethe regulations that stifle productivity,
entrepreneurship and innovation,including cumbersome permitting rules,
incumbent protectinglicensing requirements, and
rigid labor regulations thatraise the cost of hiring.
Rao concluded by calling onlawmakers to recognize their shared
(01:36):
responsibility to pursue policiesthat improve incentives and
rein in borrowing to preserveprosperity for future generations.
>> Female Speaker (01:45):
Minimum Wage Increases and Vacancies,
a new paper from Marianna Kudlyak and
co authors Murat Tasci, andDidem Tuzemen uses a unique dataset and
methods to examine the effects of minimumwage increases on posted job vacancies.
The study focused on posted vacancies inoccupations with a larger share of workers
earning close tothe effective minimum wage.
(02:07):
The authors estimate that, quote,a 10% increase in the state level
effective minimum wage reducesvacancies in these occupations,
which relative to the rest,by 2.4% in the same quarter and
the cumulative effect is aslarge as 4.5% a year later.
The authors note that their focus onvacancies allowed them to highlight
(02:27):
changes in firms hiring intentions inresponse to minimum wage increases.
The study shows thatvacancy reducing effects of
minimum wage increases driven byemployers retracting or not posting
job listings start three-quartersprior to their implementation.
>> Male Speaker (02:42):
Beware rationalizations for leaving universities as they are,
writing at Real Clear Politics,
Senior Fellow Peter Berkowitz examinesthe ongoing issue of ideological imbalance
in American higher education,particularly among professors.
To conservatives, Berkowitz writes,enhancing viewpoint diversity was
about more than fairness as thepresentation of varied points of view is
(03:06):
an integral part of liberaleducation traditionally understood.
Berkowitz maintains that in a healthierpolitical climate, universities would hire
with a view not to political convictionsbut rather to subject matter expertise.
Today, however, he suggests that someattention to political sensibility is
necessary to correct the all butmonolithic progressive edifice that
(03:29):
faculty and administrationhave built over many decades.
Still, the former law professor arguesthat no compromise should be made on
intellectual excellencewhen hiring conservatives.
Academia simply must reject, quote,the self serving equation of intellectual
excellence with the affirmationof progressive opinions.
>> Female Speaker (03:49):
Reagan Foundation honors Stanford Professor Jennifer Burns,
veteran scholar and historian, withthe Age of Reagan Conference Book Prize.
The Ronald Reagan Presidential foundationand Institute announced today that
Stanford University historian and HooverInstitution Research Fellow Jennifer Burns
has been awarded the 2025 Age ofReagan Conferen Book Prize for
(04:09):
her critically acclaimed biographyMilton Friedman, The Last Conservative.
The prize honors outstanding scholarshipthat deepens understanding of
Ronald Reagan's presidency and the broaderage of Reagan in modern US History.
Announcing the prize, the foundation andInstitute commended Burns for illuminating
how Friedman's ideas on inflation, limitedgovernment and economic freedom resonate
(04:31):
with Reagan era conservatism while shapingtoday's dialogues on markets and liberty.
Burns will deliver remarks duringthis week's Age of Reagan Conference,
to be held July 30 to August 1st atthe Ronald Reagan Presidential Library in
Simi Valley, California.
>> Male Speaker (04:46):
Joseph Torigian's The Party's Interests Come
first featured inthe Liberal Patriot in China Talk.
Research fellow Joseph Torigian's recentlypublished biography of Xi Zhongxun,
father of Chinese autocrat Xi Jinping,
continues to receive critical acclaimacross a variety of publications.
The editors of the popular substackthe Liberal Patriot write that Torigian's
(05:08):
biography, quote, tells us somuch about not just Xi Jinping's father,
an incredible character in his own right,but also the history and development
of the Chinese Communist Party, orCCP and state in the 20th century.
And of course, Xi himself.
At ChinaTalk, another popular substack,Jordan Schneider and Phoebe Chao write
(05:28):
that Torigian's book, quote,is a monumental scholarly achievement,
easily a contender forone of the best China books of the decade.
Torigian joined ChinaTalk for an interviewon the book where he discussed the purpose
of his biography, his methodology foruncovering hidden party history, what
the life of Xi Zhongxun reveals about theCCP and its current head, Xi Jinping and
(05:50):
the role of suffering in paradoxicallystrengthening loyalty to the party.
>> Female Speaker (05:56):
Featured from the Hoover Library and Archives,
Conservatism Digital Collection,the Hoover Institution Library and
Archives offers a digitizedcollection of more
than 300 items fromthe history of conservatism.
The collection features manyposters from conservative and
anti-communist political groupsin Europe and the United States.
Additionally, numerousepisodes of William F.
(06:17):
Buckley Jr's televisionprogram Firing Line,
dealing with American conservatismare included in this collection.
>> Male Speaker (06:24):
That's your Hoover Daily report for Monday, July 28th, 2025.
Each weekday we bring you research,analysis and commentary focused on public
policy, national security, and the ideasshaping American society and government.
The Hoover Institution at StanfordUniversity is grounded in constitutional
principles with a commitment tosustaining the safeguards of the American
(06:46):
way of life.
Thank you for listening.
For links to all the articles andinterviews mentioned today,
visit hoover.org/hdr.
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