Niall Ferguson, Columnist

Biden Can’t Pay His Way Out of Fighting Cold War II

As Britain found out against Napoleon, at some point you will have to put your own boots on the ground. 

Napoleon did his own fighting. 

Source: Hulton Archive via Getty Images

Suppose They Gave a War and Nobody Came? was the title of cheesy 1970 film that captured the anti-Vietnam Zeitgeist. But suppose they gave a cold war and you couldn’t afford it? Half a century later, that is the question the US needs to ask itself.

The debate on Cold War II is heating up. On Tuesday I chaired a fascinating symposium on “Cold Wars” — plural — at the Hoover Institution in California. We gathered together, in person or over Zoom, a pretty good proportion of the leading historians in the field. After a day of debate, three different schools of thought had emerged.