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Hoover Daily Report | May 6, 2026 · Hoover Daily Report

• 0:00
  Welcome to "the Hoover Daily Report". Ideas Advancing
• 0:04
  Freedom. It's Wednesday, May 6th, twenty twenty six.
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  Today, two officials from the US-China Economic and Security Review Commission
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  speak with Elizabeth Economy about the current state of US-China relations;
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  David Leal considers the implications
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  for Britain’s once-dominant major parties of a recent special election in the UK;
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  and Terry Anderson explains how establishing markets with strong property
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  rights can lead to surprising improvements in natural resource stocks
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  and the quality of the environment.
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  From Scam Centers to Supply Chains: How the US Is Meeting the China Challenge.
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  In the latest episode of China Considered, Senior Fellow Elizabeth
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  Economy speaks with Randall G. Schriver and Distinguished Visiting Fellow Mike
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  Kuiken of the US-China Economic and Security Review Commission about national
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  security and economic policy toward China, and how the two are intertwined.
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  Schriver and Kuiken explain how the commission monitors emerging risks—from
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  advanced technologies like AI and quantum computing to vulnerabilities in supply
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  chains and tracking scam centers abroad—culminating in a yearly report to
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  Congress. The discussion also covers rising geopolitical tensions,
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  particularly around Taiwan, and China’s support for Russia and Iran, as well as
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  the implications of these powers’ growing coordination. Schriver and Kuiken
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  conclude by emphasizing the importance of strengthening alliances and US domestic
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  capabilities to compete effectively in both economic and security domains.
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  Democracy in Britain: New Blocs Arise, Old Parties Fade?
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  At Defining Ideas, Senior Fellow David L. Leal argues, based on his analysis of the
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  result of a minor but meaningful UK special election, that the major British
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  parties continue to lose public support while insurgent political groupings are
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  battling for vote share. The Green candidate—the first ever to win a British
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  special election—gave signs of shifting toward a “unite the left” message, with
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  less emphasis on her party’s traditional environmental stance. At the same time,
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  the Greens’ strength seemed to indicate that such tactical voting might be
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  keeping Nigel Farage’s insurgent Reform Party at bay.
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  The implications for the next parliament will not be clear for a long while, Leal
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  writes, but local elections May 7 are expected to offer additional clues.
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  The Bargains That Manage Natural Resources.
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  Humans naturally hunt for solutions to problems, but economists know that every
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  answer involves shifts in costs and benefits. As Senior Fellow Thomas Sowell
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  is fond of reminding us, “There are no solutions, only trade-offs.” This is
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  especially true in managing the environment, Senior Fellow Terry Anderson
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  argues at Freedom Frequency, because natural resources are limited and must
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  somehow be shared. Governments create mandates to reach for economic and
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  environmental goals, but the voluntary exchange of rights to resources can work
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  as an alternative to government decrees, Anderson says. His essay makes the case
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  that water, air, land, fisheries, and timber can all be managed by clear and
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  enforceable property rights, exercised through a dynamic market.
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  Should States Enforce Noncompete Agreements?
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  In a new episode of "Economics Applied," Senior Fellow and Director of Research
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  Steven J. Davis speaks with Evan Starr, a leading expert on the economics of
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  noncompete clauses. They discuss the prevalence of noncompete clauses in
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  employment agreements; the pros and cons for employers, workers, and society of
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  such agreements; and where to draw the line in disallowing noncompete clauses.
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  Davis and Starr also evaluate the role of antitrust laws in policing noncompete
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  clauses; their effects on the pace of innovation; and whether the United States
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  should adopt a national policy on noncompete clauses.
• 3:36
  Why the Taylor Rule Still Matters.
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  In this special Grumpy Economist Weekly Rant, John Cochrane highlights a new
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  Hoover Institution Press volume honoring Senior Fellow John Taylor and his
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  far-reaching contributions to macroeconomics, monetary policy,
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  international economics, public service, and economic liberty. Cochrane explains
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  why Taylor’s most famous contribution—the Taylor rule—became central to modern
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  monetary theory and practical central banking. Cochrane also shows how Taylor
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  helped shift the way economists and central bankers think about the Federal
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  Reserve: away from a narrow focus on money supply and toward a systematic
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  framework for setting interest rates in response to inflation and output
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  fluctuations.
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  Featured Hoover Publication: Mobilizing for a Free, Open, and Secure
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  Indo-Pacific, A Strategic Reassessment.
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  This paper from Hoover’s Global Policy and Strategy Initiative assesses the
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  current security landscape in the Indo-Pacific region and how the Quad
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  (Australia, India, Japan, and the US) can address these challenges. War with China
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  is the most prominent threat to the region and concerns all four members. The
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  paper sketches a variety of steps that the group could take short of formalized
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  military cooperation that in part or in whole
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  could contribute to deterring a regional conflict.
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  That’s your Hoover Daily Report for Wednesday, May 6th, twenty twenty six.
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  Each weekday, we bring you research, analysis, and commentary focused on
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  public policy, national security, and the ideas shaping American society and
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  government.
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  The Hoover Institution at Stanford University is grounded in constitutional
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  principles with a commitment to sustaining the safeguards of the American
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  way of life.
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  Thank you for listening.
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  For links to all the articles and interviews mentioned today, visit
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  hoover.org slash, HDR.