George Shultz, the Thomas W. and Susan B. Ford Distinguished Fellow at the Hoover Institution, speaking at a dinner in his honor at the Economic Club of New York, which gave him its first Award of Leadership Excellence, presented a big-picture analysis on why our economic troubles have manifested themselves and what changes policy makers could implement to fix them.

Daniel Pipes, the Taube Distinguished Visiting Fellow at the Hoover Institution and director of the Middle East Forum, discusses, with Fox Business News’ Lou Dobbs, the impact of Palestinian leader Mahmoud Abbas’s efforts to gain statehood through the United Nations and the obstacles to the Mideast peace process.

Michael Spence, a senior fellow at the Hoover Institution and the Philip H. Knight Professor Emeritus of Management in the Graduate School of Business at Stanford University, notes that the speed and composition of a US recovery will be determined by Washington and the delicate balance between investment and spending. The United States needs structural adjustments and that will take time.

In this Uncommon Knowledge classic from February 10, 1999, Milton Friedman, recipient of the Nobel Prize in Economic Science in 1976 and a senior research fellow at the Hoover Institution from 1977 to 2006, discusses, with Hoover research fellow Peter Robinson, what defines a libertarian and how Friedman balances the libertarians' desire for a small, less intrusive government with environmental, public safety, food and drug administration, and other issues.