Edward Fishman on sanctions, chokepoints and the art of economic pressure

The World Cup is round the corner. The world's biggest spectacle is also mired with controversies, some of which we talk about in this episode. A village in Sangli, western Maharashtra goes offline for a couple of hours daily in the quest for a digital detox and in international news, more than 150 people perish in Seoul in a crowd crush.

As Covid-19 ravages China, many countries, including India, brace themselves and start taking adequate measures. Whereas the death toll from covid may not be as high as before, Indians in the country continue to find other oddly terrifying ways to die. In related news a report reckons that the most dangerous time to drive on the road is between 6 to 9 in the evening. And since everyone and their cousins are talking about ChatGPT, we thought we may blabber about it as well. What do you make of the newfangled chatbot?

As 2022 drew to a close, another sporting legend passed away. We pay a small tribute to Pele who brought football to millions of homes and made it the beautiful game we know of and grew up to. Closer home in India Mukesh Ambani just completed 20 years as the boss of the Reliance empire. And internationally, Elon Musk just lost $200bn along with a few of his peers including one Sam Bankman-Fried, the founder of FTX, a crypto exchange which went bankrupt in November. The madness has only begun as has 2023 and we wish you a great year ahead.

After a year-long nap, we are back to cover some familiar ground by talking a bit about the ongoing ICC T20 Men's Cricket World Cup. Zimbabwe and India pulled off improbable wins in the tournament. Whereas players get cracking on the field, viewers place their bets on a number of gambling apps, a rather big business in India. So big that a few agricultural workers in Gujarat recently duped Russian gamblers by accepting bets on a fake contest that mimicked the IPL. And in international news, Britain gets a new prime minister in Rishi Sunak. We talk about British politics, which is in a shambles.

RB Ramesh started coaching when he was just 22 years old. His training institute "Chess Gurukul" has spawned champions who have brought over 100 medals for India in various competitions. Just last year his student, Praggnanandhaa or Pragg became the youngest player to defeat Magnus Carlsen, a giant of the game. In this podcast RB Ramesh talks about his experience of teaching folks from across different generations. What separates world beaters from the rest? How much of it all is psychological? How does he help his students deal with stress during big competitions? Did he have any superstitions during his playing career? And lots more.

Rishi Rajpopat, a PhD student at the University of Cambridge solved a 3,500 year old Sanskrit puzzle. We scratched our heads to understand how folks like him and Pragg, the teenage chess sensation, who recently won the Arjuna award, function. And in sports, Argentina wins the world cup.

In this podcast Sir John Kay, one of the most original economic thinkers of our time, talks about what companies often get wrong. Drawing from his latest book, The Corporation in the Twenty-First Century: Why Almost Everything We Are Told About Business Is Wrong, he argues that chasing money instead of meaning is the first folly of modern corporations. Often times they focus far more than is necessary on quarterly numbers. Buzzwords like "maximising shareholder value" look great on power point slides. "No one has an epitaph on their grave that said he maximized shareholder value", he says. He shares many examples where behemoths disappeared gradually and then suddenly after shifting their purpose to maximising shareholder value. The conversation also turns to ethics. He quotes Atticus Finch from To Kill a Mocking Bird - "I can't behave one way at home and another in town" addressing that the company and the individual shouldn't have different moral codes. "There isn't a separation in my mind between ethics and morality as applied to business and ethics and morality as applied to life. They are one and the same".

Turning jargons and complex spagetti-like subjects into simple (but not simplistic) language is an art that few authors can pull off. Edward Fishman is one of them. His book, "Chokepoints: American Power in the Age of Economic Warfare", a New York Times Bestseller, explains something that we often read in the newspapers but rarely understand. For instance, we read that Iran has been "sactioned" because it hasn't stopped its ambitions to enrich uranium which can be used to build a nuclear weapon. But what exactly are sanctions? How do they work? What kind of work goes on behind the scenes? How can a country be isolated from the global financial system? Why it can't be a one-size-fits-all? Eddie has worked at the US Treasury, the State Department and the Pentagon and played a key role in designing sanctions on Iran and Russia. In this podcast he talks about the evolution of economic warfare and how states can throttle economies without firing a shot. What work and what backfires? And what have policymakers learned so far?

Jason Burke has spent decades reporting from conflict zones around the world. In this episode he speaks about his latest book, "The Revolutionists: The Story of the Extremists Who Hijacked the 1970s". Jason explains how Palestinian factions turned aircraft hijacking into a coordinated political strategy, who the key figures were and how these operations were planned and carried out. He also describes the intelligence world that operated alongside this violence, what the day-to-day life of a spy looked like in the 1970s and how states quietly cooperated across borders. He also goes on to examine the wider consequences of this period, including Israel’s response and the international coordination that made operations such as the Entebbe rescue possible, an audacious raid possible as much by politics as by military planning.

Danny Bate joins us to talk about the history of the English alphabet, letter by letter. From the ancient Egyptian origins of A to the comeback of K, Danny talks about how writing systems travelled across civilisations and shaped modern English. We discuss silent letters, spelling quirks, phonics, Scrabble and standup comedy. Drawing on his work as a linguist, Bate explains how sound, history, and habit come together in the way we read and write today. His latest book "Why Q Needs U" was shortlisted among the best books of 2025 by The Economist and is a brilliant read.