GoodFellows: Conversations on Economics, History & Geopolitics

The rubber meets the road in California this fall when a proposed one-time 5% tax on the state’s billionaire class – wealth taxes being a longtime progressive hobby horse – faces a public vote in the form of Proposition 40. Joshua Rauh, the Hoover Institution’s George P. Shultz Senior Fellow in economics and author of a data analysis of Prop 40’s fiscal and economic impacts , explains why the measure would be a “disaster” if enacted and whether the policy battle marks the beginning of more public engagement on the part of the wealthiest Californians or instead will speed up their exodus from the Golden State. After that: the fellows reflect on the 25th anniversary of the 9/11 attacks on America – where they were that fateful day and 9/11’s legacy as it pertains to the war on terror, social divides and global alliances (if a similar attack happened today, would Vladimir Putin still be the first world leader to offer assistance to the American president?). Finally, in the “Lightning Round”: the pros and cons of an ascendant world senior population; the merits of “financial engineering” as governments spend and borrow more; disorder in the ranks as more of America’s military leaders part ways with the Pentagon; young conservatives’ “Nixonmaxxing” (and revising presidential history). Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

On the latest GoodFellows: Is economic strangulation the key to achieving Iranian cooperation, or another misstep in the Persian Gulf? Is a sequel to “Woke 1” in the works? And does playing the race card in the aftermath of a former Cambridge University professor's suicide make his death even more tragic – and distract from another tragedy: declining academic tragedy? Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

Jay Bhattacharya returns to GoodFellows—now as NIH director and acting CDC director—for a candid conversation on what COVID got wrong, why science needs a replication revolution, and how to restore public trust. Jay takes on the legacy of lockdowns, school closures, Fauci, gain-of-function research, China, AI-enabled biosecurity risks, vaccine questions, and the fight to make scientific dissent possible again. Then: Iran, the Strait of Hormuz, AI guardrails, democratic socialism, and what Homer can still teach us about war. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

After a productive first 100 days after returning to office, President Trump has since hit a rough patch – stubborn inflation (despite an otherwise powerhouse economy), an unpopular war with Iran, setbacks at the Supreme Court, plus growing dissent among congressional Republicans as his party faces the distinct possibility of losing one or both chambers of Congress in November. Has the ever-impulsive, risk-taking Trump lost his political Midas touch, or is he simply yet another president befuddled by a second-term jinx (not to mention a disgruntled electorate)? If Trump is sorely in need of a “win”, will it come on the domestic front or abroad (spoiler alert: look to Cuba)? After that, the fellows discuss whether it was fair play for the American president to intervene in World Cup officiating and the International Olympic Committee to allow Russian athlete to compete for Mother Russia in the 2028 Games, if the war in Ukraine is anywhere close to a tipping point, whether futbol is in fact an expression of socialist convictions (or so New York City Mayor Zohran Mamdani believes), and the policy smarts (or a lack thereof) of Vermont Sen. Bernie Sanders’ call for a sovereign wealth on AI companies’ stock and how those firms should be addressing the industry’s image problem (the fellows playfully disagreeing on using AI to cheat on schoolwork). Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

On paper, it was a mismatch: a fledgling republic seeking freedom from the world’s mightiest empire. And yet the American Revolution ended with the upstart colonists’ victory over the mighty British military. Rick Atkinson, a military historian and author of a “Revolutionary Trilogy” on the fight for America’s independence, discusses the military tactics, geopolitical shifts, and economic conditions that factored into the war’s outcome. After that, the fellows discuss why serving as the British prime minister has become a game of musical chairs and how Labour lost its way, as well as the rise of “democratic socialism” and the appeal of class warfare and expansive government in the US – most notably, a California ballot initiative that imposes a “wealth tax” on the state’s billionaires. Finally, in the “lighting round”, John's thoughts on the passing of former Federal Reserve chair Alan Greenspan; H.R.’s take on the Pentagon putting its generals out to pasture; and Niall reflecting on European World Cup fans descending upon the US, only to discover a land of abundance (i.e., plenty of ranch dressing even if there’s not enough beer to go around). Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

As the US and Iran prepare to sign a memorandum of understanding halting hostilities in the Middle East, will the agreement hold up for long given fundamental differences over Iran’s nuclear ambitions (another 60 days of negotiating), its funding of terrorist proxies across the region, plus Israel’s actions in Lebanon? If he succeeds in putting Iran in the rear-view window, does President Trump turn his attention to brokering a peace deal between Russia and Ukraine (that war now approaching four years and four months of fighting) as well as ending Cuba’s communist dictatorship? Finally, speaking of invasions, GoodFellows’ resident Scotsman explains the joy of his countrymen’s “Tartan Army” coming to Boston – thousands of kilt-wearing lads and lasses singing, marching and pub-crawling their way through Beantown whilst rooting on a Scottish national team making its first World Cup appearance in this century. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

In a special “mailbag” episode, Hoover senior fellows Sir Niall Ferguson, John Cochrane, and H.R. McMaster answer audience questions. Among the topics (after a brief opening segment devoted to the latest in the Iran-US impasse – aka, “Schrödinger’s ceasefire”): who are today’s great leaders; is “the American experiment” doomed, as some intellectuals posit; China’s move to gold from dollar-denominated securities; the futures of the European Union and the UK’s Reform movement; North Korea’s relative silence; the cooled-down rhetoric of climate change; whether our PhD-wielding historians bother with televised historical dramas; thoughts on gentlemen-scholars’ sartorial style (“buy [clothes] when you’re a graduate student and wear them until they fall apart”); plus managerial lessons to be drawn from the recent successes of Sir Niall’s beloved Arsenal football club. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

Is it time to rethink the configuration of the US Supreme Court – not nine justices divided along lockstep ideological lines, but three groups of three justices, each clique with a different approach to jurisprudence? So argues court watcher and legal analyst Sarah Isgur, who discusses her new book, Last Branch Standing: A Potentially Surprising, Occasionally Witty Journey Inside Today's Supreme Court, and explains where the justices stand on a series of contentious issues (“birthright citizenship”, the administrative state, abortion, the court’s relationship with an antagonistic president on matters like tariffs and executive authority, plus maintaining a semblance of impartiality in a polarized Washington). After that: the three fellows discuss what’s next in Iran with peace negotiations seemingly at an impasse, what to expect from this week’s US-China summit in Beijing, plus what challenges lie ahead for Hoover fellow Kevin Warsh as he takes over as the Federal Reserve’s new chair. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

As part of the Hoover Institution’s ongoing USA@250 celebration of the founding of the American republic, a live GoodFellows episode recorded on the campus of Stanford University focusing on the US Constitution – in tech terms, America’s “operating system”. Goodfellows regulars Sir Niall Ferguson, John Cochrane and Lt. Gen. H.R. McMaster discuss the root causes of the American Revolution (taxation without representation, though the Scottish-born panelist contends the colonists in fact had a “fantastic deal”), the Constitution’s underlying principles (recognizing but not granting rights), why a document that’s more “machinery” than “visionary” in its design has stood the test of time, plus whether several provisions within the original framework and its 27 amendments (presidential eligibility, gun rights, “birthright citizenship”) need updating a world the Founding Fathers couldn’t imagine. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

Hoover Institution research fellow and Iran scholar Abbas Milani joins the GoodFellows to discuss life within the beleaguered theocracy: who’s in charge, and will added economic pressure in the form of a blockade of the Strait of Hormuz, and a halt on Iran’s oil trade bring about an end to the regime. After that: the fellows’ thoughts on Hungary’s election, Iran war “winners and losers”, America’s woeful tax code, and the Artemis II space mission. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

If unexpected wars and oil shocks have been big features of recent history, so too are economic recessions – another downturn perhaps ahead in 2026. Tyler Goodspeed, a former Hoover Institution fellow and author of the forthcoming book, Recession: The Real Reasons Economies Shrink and What To Do About It, joins GoodFellows regulars Sir Niall Ferguson, John Cochrane, and Lt. Gen. H.R. McMaster for a tutorial on economic conditions and lessons past and present. After that: The three fellows discuss the latest in the Iran conflict including the feasibility of a peace agreement by week’s end as demanded by President Trump, the odds of land forces entering the equation in the near future, plus possible economic hardship ahead should the fighting linger. Finally, in the “lightning round”: why the late Stanford biologist Paul Erlich was so amiss in predicting a doomed planet (not unlike climate alarmists) and H.R.’s favorite Chuck Norris jokes in honor of the recent passing of the famed Hollywood tough guy. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

Does the current conflict in the Middle East suggest that America has learned from its recent past wars? Hoover Institution Director and former US Secretary of State Condoleezza Rice joins GoodFellows regulars Sir Niall Ferguson, John Cochrane and Lt. Gen. H.R. McMaster to discuss the prospects of an oil “shock” prompted by a prolonged closure of the Strait of Hormuz as well as a political “shock” back in the US when voters go to the polls in November, China and Russia’s losses in terms of stature and friendly regimes, plus what the Anthropic-Pentagon legal kerfuffle suggests about the role of emerging technology in history’s first AI-enabled war and the problems in being portrayed as a societal menace. Afterwards: the fellows reflect on the 250th anniversary of Adam Smith’s The Wealth of Nations, billionaires in the crosshairs of the “affordability” debate, and why they won’t be watching the upcoming Academy Awards. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

A week into US and Israeli military operations against Iran, where does the conflict stand? GoodFellows regulars Niall Ferguson, John Cochrane and H.R. McMaster discuss the odds of hostilities expanding, what the aftermath of “regime alteration” might resemble, a possible economic backlash should energy prices spike, plus a geopolitical shock felt in Beijing and Moscow. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

As his self-proclaimed 10-day window for dealing with Iran approaches its end, what are President Trump’s options? GoodFellows regulars Niall Ferguson, John Cochrane, and H.R. McMaster weigh the merits of a US military strike versus an interim diplomatic solution. They also probe the Epstein scandal’s impact on the British landscape and the Supreme Court’s ruling against the Trump administration’s use of emergency powers for tariff implementation. Later, in the “lightning round”: why US Secretary of State Marco Rubio was warmly received at the Munich Security Conference; the Pentagon’s desire to sever academic ties with Harvard University; Barack Obama’s suggesting that aliens exist; plus H.R.’s remembrance of film great Robert Duvall, aka Apocalypse Now’s Lt. Col. Bill “I Love the Smell of Napalm in the Morning” Kilgore. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

Unlike the romanticized tale the Chinese Communist Party tells of itself—long marches and a long game of outlasting and outwitting its foes—the early years of the CCP were ones of unrepentant violence and a rise to power made possible only with external help. Frank Dikötter, the Hoover Institution’s Milias Senior Fellow and author of the forthcoming book, Red Dawn over China: How Communism Conquered a Quarter of Humanity , joins GoodFellows regulars Niall Ferguson, John Cochrane and H.R. McMaster to discuss what shaped the CCP from the years 1921–1949, plus parallels between Xi Jinping and Mao Zedong in terms of amassing power, purging rivals, and practicing economics and geopolitics. After that: the fellows debate the assertion by a New York Times columnist that Donald Trump has “lost the country,” as well as how much faith to put in economic indicators, plus songstress Billie Eilish’s belief that “no one is illegal on stolen land.” Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

Donald Trump’s drop-in at the World Economic Forum and the ensuing kerfuffle between the American president and the attending globalist elites raises the question: Who is winning on the world stage, Trump or his foes—or do they have more in common than is commonly recognized? Tyler Cowen, an economist, blogger, and Free Press columnist, joins GoodFellows regulars Niall Ferguson, John Cochrane, and H.R. McMaster to discuss Trump’s third presidential visit to the Davos, Switzerland, lion’s den, plus the rise of “democratic socialism” and “affordability politics” embodied in the ethos of New York Mayor Zohran Mamdani. After that: the three fellows discuss lessons from Minneapolis in the aftermath of two protestors shot to death by federal immigration agents; the odds of American military strikes against Iran; the significance of China’s latest military purge; plus whether the show’s resident historians are comfortable with the (over)use of phrase “the right side of history.” Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

As Iran’s theocracy teeters on the brink, the question turns to what the Trump administration’s abiding interest in other bad regimes (Venezuela, Cuba, Colombia) and its appetite for land acquisitions (greenbacks for Greenland?) say about the American president’s worldview. GoodFellows regulars Niall Ferguson, John Cochrane, and H.R. McMaster discuss policy options for Iran now that protests have turned tragic; the relative silence from the same campus leftists who fervently protested the war in Gaza; Nixonian echoes in Trump’s foreign policy; plus Secretary of State Marco Rubio’s emergence as a geopolitical jack-of-all-trades. In the second segment, John weighs in on the significance of the Justice Department’s criminal investigation into Federal Reserve chair Jerome Powell; H.R. contends America’s designs on Greenland are no laughing matter; and Sir Niall previews what to expect from Trump’s appearance at the upcoming World Economic Forum in Davos. Finally, GoodFellows’ resident “Deadhead” bids a fond farewell to the late Bob Weir, guitarist and cofounder of the Grateful Dead. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

American special forces capture Venezuela’s president and his wife in a daring nighttime operation, returning the deposed first couple to the US to stand trial for alleged narcoterrorism. Meanwhile, protests in Iran over worsening living conditions, coupled with a cratered economy, threaten that theocracy’s future. GoodFellows regulars Niall Ferguson, John Cochrane, and H.R. McMaster kick off 2026 by discussing both the precedent and the consequences of the move on Maduro, whether other nations (i.e. China) will invoke their own “Monroe Doctrines” to justify regional power grabs, plus the chances of similar fates awaiting Greenland, Colombia, or Cuba. After that: the panel’s thoughts on whether Iran’s regime is in its dying days as conditions on the ground deteriorate; and the chances of political transformation spreading worldwide in 2026—a là the end of the first Cold War—potential signposts of freedom as America celebrates 250 years of individual liberty. Finally, the fellows send their best wishes to a pair of GoodFellows guests—former Nebraska Senator Ben Sasse and Hoover’s Victor Davis Hanson—as the two gentlemen do battle with cancer. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

Nearly a century ago, after years of investors on a champagne high and warning signs ignored, a stock market crash led to a descent into a global depression. Andrew Ross Sorkin, a New York Times financial journalist and author of the bestseller 1929: Inside the Greatest Crash in Wall Street History—and How It Shattered a Nation, joins GoodFellows regulars Niall Ferguson, John Cochrane, and H.R. McMaster to discuss how the events of 1929 resonate to this day, what’s misunderstood about the fabled crash, whether Herbert Hoover (only seven months into his presidency when disaster struck) gets a fair shake, plus what the future holds for Federal Reserve independence, the bidding war for Warner Bros. Discovery, and Wall Street’s relationship with Washington. After that: The three fellows look back on 2025 with their choices for individual of the year, the most significant or ignored stories, what they learned in 2025, plus predictions and resolutions for the new year. Finally, a surprise visit by Hoover Institution visiting fellow Kris Kringle, who asks the panel for its holiday wishes (oddly enough, H.R. is never around when jolly old St. Nick shows up). Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

Two institutional sectors are in both steady and rapid decline in terms of public trust: Congress and academia. Ben Sasse, former US senator from Nebraska and president of two universities, joins GoodFellows regulars Niall Ferguson, John Cochrane, and H.R. McMaster to discuss what ails Congress and how to fix it (based on his eight years in the Senate), plus how America’s educational system has set a low bar for readying students for higher learning and life after college. Next the three fellows weigh the merits of the Trump administration’s new National Security Strategy and what strategy there is (or isn’t) regarding Venezuela and drug trafficking; the shortcomings of fuel-efficiency standards; whether they’d buy an American-made “tiny car” (no way, says our resident former tank driver); and, with the World Cup coming to America in 2026, how to clear up the confusion between US-brand “football” and the international “beautiful game” that goes by the same name (Sir Niall’s solution: Change US football to “armored rugby”). Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.