The Mercantilist Restoration - https://anthonyfatseas.substack.com/p/the-mercantilist-restoration-howInterview recorded - 22nd of May, 2026On this episode of the WTFinance podcast I had the pleasure of welcoming back Professor Vali Nasr. Vali Nasr is a Professor at the Johns Hopkins School of Advanced International Studies, a senior adviser at the Center for Strategic and International Studies, and one of the most authoritative voices on Iran, having advised American policymakers and diplomats on the country for decades. He is also the author of Iran’s Grand Strategy: A political history.During our conversation we spoke about the current situation in the Middle East, what has led up to this conflict, Iran's surprising resilience, their grand strategy, potential escalation, reshaping the Middle East and more. I hope you enjoy!0:00 - Introduction3:05 - Lead up to war5:48 - Surprised about escalation8:38 - Iran resilience10:48 - Iran’s Grand Strategy13:18 - October 6th impact16:23 - Conflict resolution20:09 - Military escalation24:11 - How have views changed?28:17 - Iranian proxies over?29:47 - US withdrawing from Middle East?34:11 - Guerrilla warfare35:25 - One message to takeaway? Vali Nasr is the Majid Khadduri Professor of International Affairs and Middle East Studies at the Johns Hopkins University School of Advanced International Studies (SAIS), and Non-Resident Senior Advisor in the Middle East Program at CSIS. He served as the eighth Dean of Johns Hopkins SAIS between 2012 and 2019 and served as Senior Advisor to U.S. Special Representative for Afghanistan and Pakistan, Ambassador Richard Holbrooke between 2009 and 2011.Professor Nasr is the author of Iran's Grand Strategy: A Political History, The Dispensable Nation: American Foreign Policy in Retreat; Forces of Fortune: The Rise of a New Middle Class and How it Will Change Our World; The Shia Revival: How Conflicts within Islam will Shape the Future; Democracy in Iran: History and the Quest for Liberty; Islamic Leviathan, Islam and the Making of State Power; Mawdudi and the Making of Islamic Revivalism; Vanguard of Islamic Revolution: Jama'at-i Islami of Pakistan, and co-author of How Sanctions Work: Iran and the Impact of Economic Warfare; as well as numerous articles in scholarly journals and commentary in Financial Times, Foreign Affairs, Foreign Policy, New York Times, Washington Post, and Wall Street Journal. He has advised senior American policymakers, world leaders, and businesses, including the President, Secretary of State, senior members of the Congress, and presidential campaigns. He has written for New York Times, Foreign Affairs, Financial Times, Wall Street Journal, and The Washington Post, among others.Vali Nasr - X - https://x.com/vali_nasrBook - https://www.amazon.co.uk/Irans-Grand-Strategy-Political-History/dp/0691268924/WTFinance -Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes -https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4LinkedIn - https://www.linkedin.com/in/anthony-fatseas-761066103/Twitter - https://twitter.com/AnthonyFatseas