A Weaponized World Economy with Henry Farrell and Abe Newman
The Lawfare Podcast
The Lawfare Institute
4.7 • 6.4K Ratings
🗓️ 20 September 2023
⏱️ 57 minutes
🧾️ Download transcript
Summary
Economic warfare isn’t a new concept. Protectionist policies, asymmetrical trade agreements, currency wars—those are just a few examples of the economic levers states have long used to control outcomes. But in their new book, two political scientists, Henry Farrell and Abe Newman, argue that a technological innovation spurred on by free market embracers and coopted by the U.S. was an accidental entry point into a new era of economic statecraft—an era whose precise contours and rules are still being ironed out today, as we are fighting in a so-called economic war. Lawfare Associate Editor Hyemin Han talked to them about how this weaponization came to be, how U.S. national security objectives are bleeding into economic warfare, and what policymakers might focus on in trying to ensure that the economic web that the U.S. currently sits at the center of is not ravaged by its own power.
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Transcript
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| 0:00.0 | The following podcast contains advertising to access an ad-free version of the LawFair |
| 0:07.2 | podcast become a material supporter of LawFair at patreon.com slash LawFair, that's patreon.com slash |
| 0:16.9 | LawFair. Also check out LawFair's other podcast offerings, rational security, chatter, LawFair |
| 0:25.6 | no bull, and the aftermath. |
| 0:30.6 | We're not trying to explain why the US dollar is the global reserve currency. That's not |
| 0:39.2 | the point that we want to make, and we use Ristam to make is that underneath the system |
| 0:46.2 | is a structure of private actors and how they interact with each other. And that's really |
| 0:51.6 | what Citibank did with the certificate of deposit is it organized this system of correspondent |
| 0:58.3 | ranks, which then create this leverages hook for the US government to get its teeth into |
| 1:05.0 | these private actors when they want to, you know, enforce sanctions or use its authority |
| 1:10.2 | different ways. |
| 1:11.8 | I'm Heyman Han, Associate Editor at LawFair, and this is the LawFair podcast September |
| 1:17.8 | 20, 2023. |
| 1:21.2 | Economic warfare isn't a new concept. Protectionist policies, asymmetrical trade agreements, currency |
| 1:27.5 | wars. Those are just a few examples of the economic levers states have long used to |
| 1:32.7 | control outcomes. But in their new book, two political scientists, Henry Farrell and |
| 1:38.7 | Abe Newman, argue that a technological innovation spurred on by free market embracers and co-opted |
| 1:44.9 | by the US, was an accidental entry point into a new era of economic state craft. An |
| 1:51.8 | era whose precise contours and rules are still being ironed out today, as we are fighting |
| 1:57.8 | in a so-called economic war. I talked to them about how this weaponization came to be, |
| 2:04.8 | how US national security objectives are bleeding into economic warfare, and what policymakers |
| 2:11.0 | might focus on in trying to ensure that the economic web that the US currently sits at |
... |
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