Uncommon Knowledge

Author: Hoover Institution

For more than two decades the Hoover Institution has been producing Uncommon Knowledge with Peter Robinson, a series hosted by Hoover fellow Peter Robinson as an outlet for political leaders, scholars, journalists, and todays big thinkers to share their views with the world.
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Teaching Gorbachev Capitalism: Jerome Powell, Condoleezza Rice, and Michael Boskin Discuss George Shultz, the Economist | Peter Robinson | Hoover Institution
Episode 450
Friday, 5 December, 2025

For the second edition of the George P. Shultz Memorial Lecture Series, Federal Reserve Chair Jerome Powell, Hoover Institution Director Condoleezza Rice, and Hoover Senior Fellow Michael Boskin assemble for a wide-ranging conversation on the economic mind and legacy of George P. Shultz. From his early career as a labor economist at MIT and the University of Chicago to his battles in the White House cabinet over wage and price controls, the closing of the gold window, and inflation that defined the Nixon and Reagan eras, Shultz emerges as a rare figure who fused intellectual rigor with political pragmatism. The panel explores how his beliefs in free markets, personal integrity, and “trust as the coin of the realm” shaped his actions, from collective bargaining and desegregation to global diplomacy—right up to his famous economic tutorials for Mikhail Gorbachev in the Kremlin. This is a timely look at how one man’s economic philosophy helped steer American policy for half a century. Subscribe to Uncommon Knowledge at hoover.org/uk