Our guest on this episode is Edward Fishman, a world expert on the modern art of economic warfare. Edward is author of the new book Chokepoints: American Power In The Age of Economic Warfare. He currently teaches at Columbia University and prior to that advised the US Secretary of State, Joints Chiefs of Staff and Treasury Department on the deployment of economic sanctions. We discuss the details of how the US uses its dominant position in the world’s financial markets and technology software to pressure countries like Iran, Russia and China. Most importantly this episode explains why these tools used to influence these chokepoints are permanent and are starting to form the contours of the new global economy that will persist for the coming decades.

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Episode TimeStamps:

02:14 - Introduction to Edward Fishman

08:24 - The failures of economic warfare

14:04 - What Stuart Levy can teach us about economic

19:26 - Who even want to work at banks nowadays?

22:10 - The most successful sanction in modern times

27:02 - The dangers of sanctions, export controls and tarifs

32:56 - What is a denial order and why is it such a powerful tool?

37:52 - What is the entity list and what is it used for?

38:55 - Technology chokepoints and the challenges they pose

46:08 - The secret to the American success

48:29 - Is the price cap on Russian oil actually working as intended?

53:31 - The oil market is changing

55:17 - Where is the global economy heading?

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