Ideological labels can be damn confusing. What do we mean by liberal, conservative, socialist, nationalist, left, right? They even seem to mean different things to different people!
Worry not. We are here to lift the fog!
Welcome to Episode 107 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, on popular demand, Amit and Ajay break down the meanings of some commonly used labels and isms.
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: Labels Are Dangerous!02:36 Chapter 0: Important Clarifications09:32 Chapter 00: What We Believe14:32 Chapter 1: Liberal25:18 Chapter 2: Conservative39:33 Chapter 3: Marxism53:40 Chapter 4: Socialism1:06:13 Chapter 5: Communism1:09:54 Chapter 6: Statism1:13:18 Chapter 7: Libertarian1:17:19 Chapter 8: Left and Right1:21:51 Chapter 9: Nationalism1:30:03 Chapter 10: Some Other Terms1:36:47 Postscript: Selected Readings
For the full show notes, click here!
It is difficult to even know what happened in the past, leave alone predicting the future. But one day, when our brave hosts were asked what the world will look like in 2050, they decided to have some fun.
Welcome to Episode 106 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Amit and Ajay make 15 predictions about 2050 in full humility, likely to be wrong, but hey, that will give us a mea culpa episode in 2050! Too much fun, this episode is, as they talk about trends and specifics. Watch!
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: ‘The Great Tragedy of My Life’03:25 Chapter 1: The Future of the Past15:29 Chapter 2: Setting It Up17:30 Chapter 3: Our Entertainment Will be Auto-Generated by AI24:28 Chapter 4: Technology Will Give Us FEELING on Demand29:35 Chapter 5: We Will Deepen Our Connections With Both Machines and People40:46 Chapter 6: Relationships Will Be Remapped48:07 Chapter 7: We Will Have Truly Global Cities58:34 Chapter 8: Gene Editing Will Be Commonplace1:02:08 Chapter 9: Energy Will Be Cheaper1:07:07 Chapter 10: Brain-Machine Interfaces Will Flourish1:12:27 Chapter 11: There Will Be Mining in the Asteroid Belt1:14:57 Chapter 12: Warfare Will Be Fully Robotic1:24:39 Chapter 13: Meat Will Be Grown in Labs1:30:11 Chapter 14: Transport Will Be Radically More Efficient1:35:26 Chapter 15: Reproduction Will Happen Inside Machines1:37:50 Chapter 16: There Will Be Unexpected Demographic Developments1:44:16 Chapter 17: Climate Change Will Remain a Problem1:51:26 Chapter 18: Recommendations
For full show notes, please click here.
Last week, we spoke about how manufacturing in India has been hobbled by the state for decades, and continues to be in a bad way. But does that mean the state should now direct its focus on it?
No!
Welcome to Episode 105 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In the second of a two-parter, Ajay lays out his argument for why the state should not pick winners, not just within a sector but also among sectors. State coercion makes everything worse!
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: ‘Development economists are a creepy bunch.’02:42 Chapter 1: The Traditional View11:06 Chapter 2: Mugged by Reality22:17 Chapter 3: What’s the New Model?32:24 Chapter 4: What Happened to the Bombay Dream?45:10 Chapter 5: Let’s Talk About Food, Baby!51:21 Chapter 6: Some Lessons54:11 Chapter 7: Recommendations
For full show notes, please click here!
Manufacturing in India was hobbled by the state for many decades after Independence — and is still not in great shape. Why is this so? How can we move forward?
Welcome to Episode 104 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In the first of a two-parter, Ajay lays out the grim reality today, and Amit gives a historical perspective. In the next episode, we discuss why Industrial Policy would be the worst way to tackle this.
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: The Travails of the Indian Businessman05:12 Chapter 1: The Hard Facts about Indian Manufacturing09:07 Chapter 2: The Difference Between Manufacturing and Services28:43 Chapter 3: A Historical View43:47 Chapter 4: The Problems with Indian Manufacturing TODAY1:08:05 Chapter 5: The Union and the State1:09:49 Chapter 6: Recommendations
For full show notes, click here.
Admit it, our last episode, You Should Start a Business, blew your mind. You couldn’t wait to get going! You wanted more!
Welcome to Episode 103 of Everything is Everything, a weekly podcast hosted by Amit Varma & Ajay Shah.
In this episode, Amit shares more gyan on starting a business. You have no excuse left now! Incorporate!
TABLE OF CONTENTS: 00:00 Packaging00:13 A Bumblebee Among the Social Butterflies02:53 Chapter 0: Setting the Stage05:02 Chapter 1: Be a Generalist10:13 Chapter 2: Practice First-Principles Thinking12:17 Chapter 3: Focus on the Customer18:50 Chapter 4: Focus on Product, Not Marketing23:15 Chapter 5: Choose a Mission Bigger Than Yourself28:12 Chapter 6: Think Long-Term40:12 Chapter 7: Choose Your Partner Well48:15 Chapter 8: Choose Your Employees Well53:11 Chapter 9: Hard Work is Non-Negotiable1:01:57 Chapter 10: Optimise for Truth-Telling1:10:55 Chapter 11: Embrace Simplicity1:15:20 Chapter 12: Have Professional Pride1:18:03 Chapter 13: Be Guided by Your Inner Scorecard1:19:55 Chapter 14: Recommendations
For the full show notes, please click here.
Welcome to Episode 102 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
There are many good reasons to start a business. In this episode, Amit and Ajay take you through a few of them — and then Amit elaborates on the mindset you need to get started.
This is Part 1 of a grand two-parter. If you don’t start a business after this, you are doomed! Start! Now!
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: Eh, Chhoti Ladki!06:34 Chapter 1: Why You Should Start a Business19:19 Chapter 2: The Detachment Argument24:01 Chapter 3: Prioritise Love Over Like28:52 Chapter 4: Don’t Listen to Naysayers34:30 Chapter 5: Be Internally Driven46:57 Chapter 6: Have a Bias for Action
For the full show notes, please click here!
When we think about state intervention, the first principle we consider is whether it is necessary. But we should also think about whether it is possible — and how easy or hard it is. How do we figure this out?
Welcome to Episode 101 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Ajay lays out the metrics by which we can judge the difficulty of a proposed state intervention. Monetary policy is easy. Financial regulation is hard. Let’s understand why!
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: The Light Has Gone out of Our Lives03:52 Chapter 1: Is This Easy or Is This Hard?06:51 Chapter 2: Metrics for Intervention15:49 Chapter 3: Some Concrete Examples28:52 Chapter 4: The Hacking Mindset32:02 Chapter 5: The Important Things are the Hard Ones40:32 Chapter 6: Recommendations
For the full show notes, please click here.
We’ve reached episode 100 — HURRAY! — and it’s time for another session of Ask Me Anything. Amit and Ajay take questions from gentle readers about a variety of subjects, from Ajay’s love of suffering to Amit’s (dubious) haircare. (The two are not related.) Mad fun, watch!
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: Under the Banyan Tree03:38 The Questions Begin!1:40:10 NOT the Last Bow
For full show notes, please click here.
Regulation always has the potential to go wrong. But in India, it’s been worse than in much of the world. It has become a tool of oppression of the worst kind.
Welcome to Episode 99 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Amit talks about the theory of regulation in general — and Ajay delivers a masterclass on how the Indian state turned it into a horror film.
Despite that, the episode begins and ends with good news!
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: Good News!05:45 Chapter 1: The Theory and History of Regulation22:16 Chapter 2: Getting the Terms Right27:03 Chapter 3: Why Set Up a Regulator?36:14 Chapter 4: Where India Went Wrong46:36 Chapter 5: What is Wrong with the Regulatory State?47:52 Chapter 6: How Can We Fix This?53:52 Chapter 7: The Wonder That Was FSLRC1:01:56 Chapter 8: The Ecosystem of Ideas (and Ideas People)1:18:37 Chapter 9: Recommendations
For full show notes, please click here.
We define a state as the entity that has a monopoly on violence. But does political authority lead to political legitimacy? How do we define legitimacy? What happens without it? How should we approach it as citizens.
Welcome to Episode 98 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Ajay draws from political philosophy to expand on the intricacies of the concept of political legitimacy. And at the end, Amit gives an impassioned monologue on why it may not even matter in India!
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: A Vacation & an Education03:07 Chapter 1: What is Legitimacy?11:53 Chapter 2: Where Does Legitimacy Come From?19:39 Chapter 3: What Goes Wrong Without Legitimacy?26:41 Chapter 4: What Public Choice Theory Tells Us32:57 Chapter 5: Legitimacy for an Ideologue36:36 Chapter 6: How to Increase Legitimacy44:35 Chapter 7: Amit Gives Context and Nuance55:33 Chapter 8: Recommendations
For full show notes, please click here.
We often assume that art and genius are the playground of the youth. Well, while giving himself an education in art during a vacation in Spain, Amit realised that all the great Spanish masters did their most powerful work in old age, when thehraav met mastery. The light in winter is different.
Welcome to Episode 97 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Amit expands on his observation about the artistic possibilities of old age, while introducing the lives and work of Diego Velázquez, Francisco Goya, Pablo Picasso and Joan Miro. Also featured: Salvador Dali, U2, Bob Dylan, Penelope Fitzgerald and Wim Wenders.
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: A Vacation & an Education04:34 Chapter 0: Museums and Narratives07:26 Chapter 1: Diego Velázquez and Lal Meninas19:32 Chapter 2: Francisco Goya and the Black Paintings31:42 Chapter 3: Pablo Picasso Likes to Play47:56 Chapter 4: Joan Miró Strips It Down54:47 Chapter 5: More Late Mastery1:04:51 Chapter 6: Recommendations
For the full awesome show notes, click here!
Last week, we went through a 101 of globalisation: the first principles, why it rocks, why tariffs are terrible. We also did a potted history of how it spread and almost unravelled. Now, it’s time to come to these current times.
Is globalisation doomed?
Welcome to Episode 96 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Ajay brings the narrative up to the present times. What GATT and the WTO achieved, why they weren’t enough, where the fault lines lie, the problem of China, and the damage the Trump tariffs can cause.
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: The Need for a 10102:43 Chapter 1: The Aftermath of Smoot-Hawley10:34 Chapter 2: Everything You Always Wanted to Know About GATT (But Were Afraid to Ask)20:28 Chapter 3: Some Wrinkles to Consider55:43 Chapter 4: The Trumpist Arguments1:05:41 Chapter 5: The Trump Tariffs1:14:54 Chapter 6: What Next?1:18:11 Chapter 7: India’s Opportunity1:25:29 Chapter 8: Recommendations
For magnificent, detailed, juicy show notes, click here.
Globalisation is great. Tariffs are terrible. But why? What is the history of trade? What is the history of the ideas around it?
Today, more than ever, it is important to understand.
Welcome to Episode 95 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Amit and Ajay give a 101 masterclass on why globalisation is great — as well as a 101 history of globalisation so far.
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: The Need for a 10105:52 Chapter 1: Why is Globalisation Great?34:30 Chapter 2: The Story of Globalization57:25 Chapter 3: Let’s Bust Some Tariff Myths!
For magnificent, detailed, juicy show notes, click here.
For all the toxicity of social media, it is also a source of much Good Gyan, as every day the best minds in the world think aloud for our benefit. Here’s another conversation about some more wisdom that we have gathered!
Welcome to Episode 94 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: Two Good Dogs00:45 Good Gyan 1: Desire04:23 GG 2: Greatness22:40 GG 3: Productivity24:26 GG 4: Normalcy28:09 GG 5: Passion30:13 GG 6: Talent36:10 GG 7: Imperfectionism44:40 GG 8: The Hard Yards46:44 GG 9: Procrastination49:15 GG 10: Making It54:09 GG 11: Our Shrinking Future56:30 GG 12: Spring59:10 Recommendations
For magnificent, detailed, juicy show notes, click here.
Social media may be addictive, even sometimes toxic, but it is almost magical in one gift it gives us: every day, the best minds in the world think aloud for our benefit. And some of us, gentle readers, are listening & taking notes.
Welcome to Episode 93 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Amit shares nuggets from his Good Gyan folder on Twitter. He shares why he considers those tweets to be good gyan — and Ajay responds to them, and adds his own good gyan!
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: Good Gyan on Twitter? Really?02:52 Good Gyan 1: Perception09:42 GG 2: Relevance13:32 GG 3: Relevance again16:28 GG 4: Solitary hobbies19:32 GG 5: Relationships22:52 GG 6: Happiness30:39 GG 7: Courage33:11 GG 8: Breadth35:35 GG 9: Whiners40:16 GG 10: Complexity41:48 GG 11: Purpose44:28 GG 12: Knowing Oneself46:06 GG 13: AI & Us47:41 GG 14 & 15: Good Doctors53:02 GG 16: Preparation & Planning54:52 GG 17: Crackheads56:40 GG 18: Wisdom
For magnificent, detailed, juicy show notes, click here.
Too often, we think a Strong Man will solve all our problems, and that decisive leadership is all a nation needs. This could not be more wrong. We need strong rules, not strong rulers — and we need those strong rules to restrain the state. The secret to prosperity lies in rules, not discretion.
Welcome to Episode 92 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Ajay explains the history of a concept that is one of the most important in political philosophy: Rules, Not Discretion. Also discussed: the contribution of economics to this concept, what poker also teaches us, and why rowing machines are good for you.
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: A Rebel With Rules01:03 Chapter 1: Beware of the Strong Man09:16 Chapter 2: Ireland’s Story20:33 Chapter 3: Monetary Policy26:01 Chapter 4: A Paper That Made Ajay Drunk With Happiness28:52 Chapter 5: Focus on Rules43:31 Chapter 6: Rules are the Key to Growth48:48 Chapter 7: Amit’s Thoughts1:05:08 Chapter 8: Other Applications of this Framework1:17:25 Chapter 9: Recommendations
For magnificent, detailed, juicy show notes, click here.
We think of the state as a monolithic beast -- but it should be anything but monolithic. The state exists to serve us, not rule us, and for that, we must have checks and balances -- and the best kind is the separation of powers.
Welcome to Episode 91 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Ajay explains why for democracy to be meaningful, a separation of powers is essential. We talk history, theory and India's story.
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: The Planner and the Doer02:59 Chapter 1: Introducing the Subject06:10 Chapter 2: Arriving at The Separation of Powers18:02 Chapter 3: The Indian Story33:08 Chapter 4: What Some Regulators Get Wrong38:32 Chapter 5: Two Big Developments in the US49:55 Chapter 6: Some Additional Thoughts55:26 Chapter 7: Recommendations
For magnificent, detailed, juicy show notes, click here.
All of us suffer from constraints in our life. Some are small -- and some can be huge. We should take inspiration from people who have fought huge constraints and broken barriers despite the obstacles in their way -- and sometimes because of them.
Welcome to Episode 90 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Amit takes us through a few inspiring stories of how a few pioneers used their constraints to break new ground.
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: We are Stupid AND Creative02:40 Chapter 1: Joni Mitchell Plays Guitar10:09 Chapter 2: Frida Kahlo Won’t Be Stopped18:23 Chapter 3: Dr Seuss Has 50 Words32:23 Chapter 4: Fosbury was Not a Flop42:40 Chapter 5: Some More Stories
For magnificent, detailed, juicy show notes, click here.
There are few things a government can do to harm society more than Industrial policy. It sounds well-intentioned, but is born out of hubris and results in disaster.
Welcome to Episode 89 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Ajay breaks down the thinking behind industrial policy, the practice of it, and why it is always bad for the people.
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: The 500 Dollar Bill08:01 Chapter 1: What is Industrial Policy?15:39 Chapter 2: How Industrial Policy Works26:50 Chapter 3: Subsidies42:54 Chapter 4: The Folly of PLI52:56 Chapter 5: Coercive Power57:36 Chapter 6: Ethno-Nationalism1:05:42 Chapter 7: Government Monopolies 1:11:54 Chapter 8: The China Question1:14:55 Chapter 9: What Should the State Do?
For magnificent, detailed, juicy show notes, click here.
Society needs free speech. Democracy needs free speech. For our lives to have meaning and purpose, WE need free speech.
Welcome to Episode 88 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Amit lays out the case for free speech absolutism -- and also, the troubled history of free speech in India.
TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: It's Not All Black and White03:02 Chapter 1: The Ranveer Episode13:45 Chapter 2: The Arguments for Free Speech20:43 Chapter 3: The Troubled History of the Freedom of Expression34:46 Chapter 4: The Hypocrisy of the Elites41:23 Chapter 5: Some Common Objections to Free Speech50:28 Chapter 6: Ajay’s Closing Remarks
For magnificent, detailed, juicy show notes, click here.
