The 2010 William E. Simon Lecture given by Hudson Senior Fellow and Director of the Bradley Center for Philanthropy & Civic Renewal William Schambra at the Manhattan Institute For Policy Research in New York City on December 9, 2010.

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The logo of Japan's largest steel manufacturer Nippon Steel corporation is seen in front of the company's head office in Tokyo on January 7, 2025. (David Marueil/ via Getty Images)