Georgetown professor Abraham Newman, author of 'Underground Empire,' uncovers how powerful companies control critical sectors in the global economy. Governments like the U.S. strategically use this knowledge to counter adversaries post-9/11. The podcast explores the political risks companies face in their operations and advocates for responsible use of new economic tools for a more secure world.
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Quick takeaways
Global economy can be exploited for trade and surveillance purposes by governments.
Economic tools post-9/11 have unintentionally led to state-driven control and fragmentation of globalization.
Deep dives
Globalization and State Control
The podcast discusses how the interconnected nature of the global economy can be used for both trade and surveillance/control purposes. It highlights the concentration of power in a few key companies, leading to choke points that governments can exploit. The US government, post-9/11, leveraged these connections to understand and target adversaries by utilizing systems like SWIFT. This has turned the global economy into a battleground where firms must navigate political risks in their operations.
Unintentional Economic Weaponization
The episode explores how economic tools developed in response to crises like 9/11 have inadvertently led to state-driven control and potential fragmentation of globalization. It emphasizes the need for a new framework to govern the use of these economic weapons to prevent unintended consequences and maintain stability. The discussion draws parallels to the establishment of guidelines for nuclear weapons, highlighting the importance of responsible policymaking to ensure global safety and prosperity.