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Lecture

2018 Hayek Lecture

John F. Cogan Leonard and Shirley Ely Senior Fellow, Hoover Institution
Thu, Jun 7, 2018 New York City

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2018 Hayek Lecture

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Lecture

2018 Hayek Lecture

John F. Cogan Leonard and Shirley Ely Senior Fellow, Hoover Institution
New York City 06:00pm—07:30pm
Thursday June 7
Thursday June 7 2018
PAST EVENT Thursday June 7 2018

On June 7, the Manhattan Institute awarded the 14th annual Hayek Book Prize to John F. Cogan for his book The High Cost of Good Intentions: A History of US Federal Entitlement Programs. Learn more about the other finalists here.

Federal entitlement programs are strewn throughout the pages of U.S. history, springing from the noble purpose of assisting people who are destitute through no fault of their own. Yet as federal entitlement programs have grown, so too have their inefficiency and their cost. Tax revenues have not kept pace with their rising growth, bringing the national debt to a record peacetime level.

The High Cost of Good Intentions is the first comprehensive history of these federal entitlement programs. Combining economics, history, political science, and law, the Manhattan Institute’s 2018 Hayek Prize winner, John F. Cogan, reveals how the creation of entitlements, no matter how modest initially, inevitably invites unsustainable expansions. His work provides a unifying explanation for the evolutionary path that nearly all federal entitlement programs have followed over the past 200 years, tracing both their common origins and the financial risks they pose for future generations.

John F. Cogan is the Leonard and Shirley Ely Senior Fellow at the Hoover Institution and a faculty member in the Public Policy Program at Stanford University. Cogan’s research is focused on U.S. budget and fiscal policy, federal entitlement programs, and health care. He has published widely in professional journals in both economics and political science.

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EconomicsRegulations
A manhattan institute series

Hayek Lecture and Book Prize

Political philosopher and Nobel laureate F. A. Hayek, author of groundbreaking works such as The Road to Serfdom and The Constitution of Liberty, was the key figure in the twentieth century revival of classical liberalism. He was also a formative influence on the Manhattan Institute. When our founder, Sir Antony Fisher, asked how best to reverse the erosion of freedom, Hayek advised him not to begin with politics per se but to fight first on the battlefield of ideas. Our Hayek Lecture and Prize affirm and celebrate this mission.

The Hayek Lecture is delivered by the recipient of the Hayek Prize, which honors the book published within the past two years that best reflects Hayek’s vision of economic and individual liberty. The Hayek Prize, with its $50,000 award, is among the world’s most generous book prizes. It was conceived and funded by Manhattan Institute trustee Tom Smith to recognize the influence of F.A. Hayek and to encourage other scholars to follow his example. The winner of the Hayek Prize is chosen from among the nominations by a selection committee of distinguished economists, journalists, and scholars. Past winners include: William Easterly for The White Man's Burden, Amity Shlaes for The Forgotten Man, Benn Steil and Manuel Hinds for Money, Markets & Sovereignty, Matt Ridley for The Rational Optimist, John Taylor for First Principles, Casey Mulligan for The Redistribution Recession, and, most recently, James Grant for The Forgotten Depression.

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