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.