GoodFellows: Conversations on Economics, History & Geopolitics

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.     

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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.  

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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.

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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. 

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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.”  

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