John Cogan wins Hayek Prize

Hoover Senior Fellow JOHN COGAN‘s book The High Cost of Good Intentions: A History of U.S. Federal Entitlement Programs has won the 2018 Hayek Book Prize.

John Cogan's bookThe Manhattan Institute’s Hayek Prize honors the book that best reflects economist Friedrich Hayek’s vision of economic and individual liberty.

As part of the honor, Cogan will deliver the annual Hayek Lecture in New York on June 7. The prize comes with a $50,000 award. Cogan is the Leonard and Shirley Ely Senior Fellow at the Hoover Institution and a faculty member in Stanford’s Public Policy Program.

“I am deeply honored and humbled to receive the Hayek Prize,” Cogan said. “I’ve read each of the nominated books and each represents an extraordinary contribution to its particular area of inquiry. The high quality of these books makes me cherish the Hayek Prize even more.”

Cogan’s book is described as the first comprehensive history of federal entitlement programs. In the work, he explains how entitlements created a steady march of liberalizing forces over the past 200 years that caused these programs to expand. He argues that this continues until benefits are extended to nearly all who could be considered eligible, which further encourages a social appetite for future entitlement expansions.

Manhattan Institute President Lawrence J. Mone added, “His comprehensive and unflinching history of U.S. federal entitlement programs is a must-read for anyone seeking to understand how our safety net has ballooned to the untenable size it is today.”

To read the full article and more, go to the Hoover Institution website.