October 9, 2025 • 6 mins
Today, Steven J. Davis provides a comprehensive economic analysis of the Trump administration’s trade policies; the Hoover Institution invites you to a celebration of Thomas Sowell’s remarkable intellectual and public policy impact; and Michael McFaul explains the motivations behind his forthcoming book, Autocrats vs. Democrats.
Hoover Daily Report | October 9, 2025
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Episode Transcript
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(00:00):
- Welcome to the Hoover Daily Report,
ideas Advancing Freedom.
It's Thursday, October 9th, 2025.
- Today, Stephen J. Davisprovides a comprehensive economic
analysis of the Trumpadministration's trade policies.
The Hoover Institutioninvites you to a celebration
of Thomas Sowell's,remarkable intellectual
and public policy impact,
(00:20):
and Michael McFallexplains the motivations
behind his forthcoming book,autocrats Versus Democrats,
- The trade policy Rupture In a post
to Hoover's Substack publication,
freedom Frequency Senior Fellow
and Director of Research,
Stephen J. Davis analyzesthe dizzying array
of tariff hikes, threats,reversals, export controls,
deadlines, concessions,retaliations, vague deals
(00:45):
and promises of deals tocome made by President Trump.
Since February in aggregate,Davis finds that the result
of Trump's trade policyhas been a rupture in the
International Trading Order,that despite its many flaws,
fostered prosperity
and security for more than 80 years,
Davis reviews the effects
of current high tariffsacross economic sectors,
(01:06):
also emphasizing the negative implications
of the legally contested manner in which
they have been implemented.
Using presidential emergency powers,
it will take many years, much work
and internal US reformsto restore the trust
and confidence destroyedby the Trumpian approach
to trade policy. Davis concludes
- The Sowell legacy ideas, impact
(01:27):
and intellectual freedom forthose local to the Bay Area.
The Hoover Institutioncordially invites you
to join us on October 20th
as we celebrate senior fellowThomas Sowell's remarkable
scholarly contributions
and honor his lasting impacton the world of ideas.
Thomas Sowell is one ofAmerica's most influential
intellectuals, aneconomist, social theorist
(01:49):
and public commentator whosework grounded in rigorous
research has shapednational conversations.
For over five decades, SOL hasauthored more than 40 books
and countless essays oneconomics, education, race,
and culture, known for makingcomplex ideas accessible
to broad audiences.
His fearless commitment to truth, reason
(02:09):
and independent thoughthas left an enduring legacy
that continues to inspirescholars, policymakers,
and citizens alike.
Join us for a day of discussion
and debate centered on the ideas
and impact of this legendary scholar.
- Why I wrote Autocrats versusDemocrats in a post at his
Substack Senior fellow, MichaelMcFall explains the personal
(02:30):
and political motivationsbehind his latest book
as he notes a book thatis years in the Making,
accumulates multiple objectives over time.
That was certainly truefor me in writing Autocrats
versus Democrats.
McFaul gives an overview ofthose different objectives,
writing that beyond explaining
and describing great power politics.
The final motivation
(02:51):
for writing autocrats versus Democrats was
to provide a blueprint forAmerican foreign policymakers
and citizens in the 21st century.
The former US Ambassador toRussia shares how his book seeks
to identify and explain certainpolicy mistakes from the
Cold War, as well assuccesses from the Cold War
that should be replicated
and policies necessaryfor addressing China
(03:13):
and Russia in the present day
that have no directconnection to the Cold War.
- Inside the mind of Kevin Walsh.
At Barron's, Matt Peterson,
profile's distinguishedvisiting fellow Kevin Walsh,
widely viewed in public reporting as
among the top three contendersto serve as the next chair
of the Federal Reserve.
Warsh recounts an impactful meeting
with former Fed chair PaulVolker, who is credited
(03:35):
with quashing high inflationrates in the late 1970s
and early 1980s.
He said to me, the jobof the Central Bank is
to do two things.
It is first to get interestrates about right and second,
and he emphasized it wasat least as important
as the first is
to make sure you look likeyou know what you're doing.
Applying these principlesto the current era.
(03:57):
Warsh says the Powell Fedhas failed on both measures.
As the piece notes, warshwould chart a new course
that deemphasizes the inflationaryimpact of factors such
as supply chains
and tariffs in favor of aview of inflation driven
by government spendingand the money supply
- Supply, energy realitiesand climate policies.
Three experts speak.
(04:18):
Sound energy policyrequires an understanding
of the factual foundationsof energy generation,
national security, economic prosperity,
and environmental stewardship.
In a conversation forHoover's Tenenbaum program
for fact-based policy, moderated
by senior fellow Michael j Boskin,
senior fellow Arun Majumdar,visiting fellow Bjorn Lomborg
(04:41):
and Daniel Jurgen.
Vital information is
provided on energy supply,growing energy demand for ai,
the limited impacts of climate,
policies on actual climate outcomes,
and the need to accommodateenergy realities as the basis
for policy decisions.
The scholars emphasize several realities,
including the vast size of the US
(05:01):
and global energy sector, the fact
that while renewables have grown rapidly,
those energy sources on balancehave not replaced fossil
fuels, which have continued to grow
and still account for 80% of energy supply
and the need for a full cycleevaluation of climate policies
to assess their net impact.
- This month in Hoover history, secretary
(05:22):
of State Anthony Blinken visitsthe Hoover Institution in
October, 2022
before a full crowd
of mostly students in Hoover'sHouck Auditorium, secretary
of State, Anthony Blinkenengaged in a conversation
with his predecessor, CondoleezzaRice, on a broad spectrum
of issues impacting the security
and prosperity of the UnitedStates and partner nations.
(05:43):
Issues discussed includedaggression by Russia
and China against the postCold War security architecture
and how the free world can best grapple
with challenges resultingfrom the rapid pace
of technological innovation.
- That's your Hooverdaily report for Thursday,
October 9th, 2025.
Each weekday, we bringyou research, analysis,
and commentary focused on publicpolicy, national security,
(06:06):
and the ideas shaping Americansociety and government.
The Hoover Institution atStanford University is grounded in
constitutional principleswith a commitment
to sustaining the safeguardsof the American way of life.
Thank you for listening.
For links to all the articles
and interviews mentionedtoday, visit hoover.org/hdr.
- Welcome to the Hoover Daily Report,
ideas Advancing Freedom.
It's Thursday, October 9th, 2025.
- Today, Stephen J. Davisprovides a comprehensive economic
analysis of the Trumpadministration's trade policies.
The Hoover Institutioninvites you to a celebration
of Thomas Sowell's,remarkable intellectual
and public policy impact,
(00:20):
and Michael McFallexplains the motivations
behind his forthcoming book,autocrats Versus Democrats,
- The trade policy Rupture In a post
to Hoover's Substack publication,
freedom Frequency Senior Fellow
and Director of Research,
Stephen J. Davis analyzesthe dizzying array
of tariff hikes, threats,reversals, export controls,
deadlines, concessions,retaliations, vague deals
(00:45):
and promises of deals tocome made by President Trump.
Since February in aggregate,Davis finds that the result
of Trump's trade policyhas been a rupture in the
International Trading Order,that despite its many flaws,
fostered prosperity
and security for more than 80 years,
Davis reviews the effects
of current high tariffsacross economic sectors,
(01:06):
also emphasizing the negative implications
of the legally contested manner in which
they have been implemented.
Using presidential emergency powers,
it will take many years, much work
and internal US reformsto restore the trust
and confidence destroyedby the Trumpian approach
to trade policy. Davis concludes
- The Sowell legacy ideas, impact
(01:27):
and intellectual freedom forthose local to the Bay Area.
The Hoover Institutioncordially invites you
to join us on October 20th
as we celebrate senior fellowThomas Sowell's remarkable
scholarly contributions
and honor his lasting impacton the world of ideas.
Thomas Sowell is one ofAmerica's most influential
intellectuals, aneconomist, social theorist
(01:49):
and public commentator whosework grounded in rigorous
research has shapednational conversations.
For over five decades, SOL hasauthored more than 40 books
and countless essays oneconomics, education, race,
and culture, known for makingcomplex ideas accessible
to broad audiences.
His fearless commitment to truth, reason
(02:09):
and independent thoughthas left an enduring legacy
that continues to inspirescholars, policymakers,
and citizens alike.
Join us for a day of discussion
and debate centered on the ideas
and impact of this legendary scholar.
- Why I wrote Autocrats versusDemocrats in a post at his
Substack Senior fellow, MichaelMcFall explains the personal
(02:30):
and political motivationsbehind his latest book
as he notes a book thatis years in the Making,
accumulates multiple objectives over time.
That was certainly truefor me in writing Autocrats
versus Democrats.
McFaul gives an overview ofthose different objectives,
writing that beyond explaining
and describing great power politics.
The final motivation
(02:51):
for writing autocrats versus Democrats was
to provide a blueprint forAmerican foreign policymakers
and citizens in the 21st century.
The former US Ambassador toRussia shares how his book seeks
to identify and explain certainpolicy mistakes from the
Cold War, as well assuccesses from the Cold War
that should be replicated
and policies necessaryfor addressing China
(03:13):
and Russia in the present day
that have no directconnection to the Cold War.
- Inside the mind of Kevin Walsh.
At Barron's, Matt Peterson,
profile's distinguishedvisiting fellow Kevin Walsh,
widely viewed in public reporting as
among the top three contendersto serve as the next chair
of the Federal Reserve.
Warsh recounts an impactful meeting
with former Fed chair PaulVolker, who is credited
(03:35):
with quashing high inflationrates in the late 1970s
and early 1980s.
He said to me, the jobof the Central Bank is
to do two things.
It is first to get interestrates about right and second,
and he emphasized it wasat least as important
as the first is
to make sure you look likeyou know what you're doing.
Applying these principlesto the current era.
(03:57):
Warsh says the Powell Fedhas failed on both measures.
As the piece notes, warshwould chart a new course
that deemphasizes the inflationaryimpact of factors such
as supply chains
and tariffs in favor of aview of inflation driven
by government spendingand the money supply
- Supply, energy realitiesand climate policies.
Three experts speak.
(04:18):
Sound energy policyrequires an understanding
of the factual foundationsof energy generation,
national security, economic prosperity,
and environmental stewardship.
In a conversation forHoover's Tenenbaum program
for fact-based policy, moderated
by senior fellow Michael j Boskin,
senior fellow Arun Majumdar,visiting fellow Bjorn Lomborg
(04:41):
and Daniel Jurgen.
Vital information is
provided on energy supply,growing energy demand for ai,
the limited impacts of climate,
policies on actual climate outcomes,
and the need to accommodateenergy realities as the basis
for policy decisions.
The scholars emphasize several realities,
including the vast size of the US
(05:01):
and global energy sector, the fact
that while renewables have grown rapidly,
those energy sources on balancehave not replaced fossil
fuels, which have continued to grow
and still account for 80% of energy supply
and the need for a full cycleevaluation of climate policies
to assess their net impact.
- This month in Hoover history, secretary
(05:22):
of State Anthony Blinken visitsthe Hoover Institution in
October, 2022
before a full crowd
of mostly students in Hoover'sHouck Auditorium, secretary
of State, Anthony Blinkenengaged in a conversation
with his predecessor, CondoleezzaRice, on a broad spectrum
of issues impacting the security
and prosperity of the UnitedStates and partner nations.
(05:43):
Issues discussed includedaggression by Russia
and China against the postCold War security architecture
and how the free world can best grapple
with challenges resultingfrom the rapid pace
of technological innovation.
- That's your Hooverdaily report for Thursday,
October 9th, 2025.
Each weekday, we bringyou research, analysis,
and commentary focused on publicpolicy, national security,
(06:06):
and the ideas shaping Americansociety and government.
The Hoover Institution atStanford University is grounded in
constitutional principleswith a commitment
to sustaining the safeguardsof the American way of life.
Thank you for listening.
For links to all the articles
and interviews mentionedtoday, visit hoover.org/hdr.
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