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GoodFellows: Conversations from the Hoover Institution

Economists Rule?

GoodFellows: Conversations from the Hoover Institution

Hoover Institution

News Commentary, Government, News, News:news Commentary, Politics

4.8658 Ratings

🗓️ 6 October 2021

⏱️ 55 minutes

🧾️ Download transcript

Summary

As Washington mulls trillions in “human infrastructure” spending and remains at an impasse over raising the federal debt ceiling, what are the economic consequences? Hoover senior fellows Niall Ferguson and John Cochrane are joined by economic historian Tyler Goodspeed, Hoover’s Kleinheinz Fellow and a former acting chair of the White House’s Council of Economic Advisers, to discuss the latest DC drama, the present supply-chain crisis and cryptocurrency’s future.

Transcript

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0:00.0

It's Tuesday, October the 5th, and welcome back to Goodfellows, a Hoover Institution

0:11.8

broadcast examining social, economic, political, and geopolitical concerns. I'm Bill Wayland. I'm

0:17.3

a Hoover Distinguished Policy Fellow, and I'll be the moderator of today's show.

0:23.6

That means to have the honor of introducing the stars of our show.

0:30.5

Now, two of the Goodfellows you already know by now, the historian Neil Ferguson and the economist John Cochran, both are Hoover Institution's senior fellows.

0:41.3

Ordinarily, our good friend, H.R. McMaster, rounds out the trio of Goodfellows, but the Good General is in Washington this week, testifying on Afghanistan. In his place, we're joined by Tyler Goodspeed, the Hoover Institution,

0:46.0

Klein Heinz fellow and a former acting chair and vice chair of the White House Council of Economic Advisors.

0:50.5

With the last name like Goodspeed, Tyler is just a matter of time before we bumped you up to Goodfellow.

0:51.7

Thanks for coming on the show today.

0:54.9

Great to be here. Thanks for having me.

0:59.5

I got to tell the story. We had a fight. We're going to talk about economics. I said, I want an economist. And Neil said, I want a historian. I said, I want an economist. I'm an historian. So he settled

1:03.6

on someone who is both an economist and a historian. Welcome, Tyler. You outrank us both.

1:08.8

I'm glad you mentioned that, John, because I was about to mention Neil that ordinarily

1:12.3

historians outweigh economists on this show two to one, but it looked like economists

1:15.9

ruled in this one two to one, and Neil would find himself the minority, but apparently

1:19.2

not. It looks like we're one, one and one.

1:21.6

It's Tyler's dark secret that he was once my student at Harvard, and he leads a double life. Part of him is a historian,

1:29.6

and part of him as an economist. And it's actually quite unusual to be eminently qualified in both

1:35.6

disciplines. Unusual to the point of it scarcely exists anymore. But his early work was very much

1:42.1

a work of financial history's doctoral thesis, which looked at the great

1:46.2

late 18th century Scottish financial crisis. But he then, he covers such a broad range of things

1:52.0

that it never ceases to amaze me. And I'm just delighted to welcome him to Goodfellows because

...

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