The study of humanity is the study of humanity. Everything is everything. And yet, different disciplines of study have imprisoned themselves in silos, refusing to learn from each other. Welcome to Episode 75 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay discuss a great paper from Biju Rao that talks about what economists can learn from anthropologists and sociologists -- and how only a multidisciplinary approach can reveal the wo...
Nov 29, 2024•57 min•Season 1Ep. 75
Which Indian hasn't experienced a KYC nightmare? And yet, we have normalised it. We should instead fight it. India's KYC is not just the worst such measure in the world, it is also an infringement on our rights. Welcome to Episode 74 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: Kaagaz Dikhaao! 00:50 Chapter 1: The Curious Tale of Lal Bihari Mritak 04:55 Chapter 2: The Nightmare of KYC 09:26 Chapter 3: The Import...
Nov 22, 2024•48 min•Season 1Ep. 74
Should alcohol be banned? What about recreational drugs? Gambling? Hate speech? You may disapprove of certain things, but if they do not infringe anyone's rights, then turning them into crimes tends to backfire. We should think hard about what we classify as crimes -- and also examine our own morality. Welcome to Episode 73 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: How Do We Wow Them Today? 01:02 Chapter 1: W...
Nov 16, 2024•1 hr 2 min•Season 1Ep. 73
Songs, albums, books, films are the way they for a reason -- and those reasons are outdated. The dominant forms of creative expression evolved because of constraints that no longer apply. We should free our minds and look beyond them! Welcome to Episode 72 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: The Contemplative Atom 02:29 Chapter 1: Understand Form 05:57 Chapter 2: The Sound of Birds 09:51 Chapter 3: How ...
Nov 14, 2024•59 min•Season 1Ep. 72
Finance is the lifeblood of every economy. India's financial system has taken decades to evolve to where it is today -- and we still have a long way to go. What has this journey been like? What can we learn? Welcome to Episode 71 of Everything is Everything, a weekly podcast hosted by Amit Varma & Ajay Shah. TABLE OF CONTENTS: 02:56 Chapter 1: Banking 39:33 Chapter 2: Equity Markets 51:33 Chapter 3: Other Financial Firms 57:31 Chapter 4: Currency Controls 1:07:58 Chapter 5: Bankruptcy 1:18:4...
Nov 04, 2024•1 hr 57 min•Season 1Ep. 71
India's system of competitive entrance exams is broken. There is too much pressure on kids and their families -- and we don't even get the best outcomes. Welcome to Episode 70 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay discuss what's broken about the system. What can we do to make the current system work better? What can we do to attack the root cause and build a better world for the generations to come? Listen in! TABLE OF CO...
Oct 25, 2024•56 min•Season 1Ep. 70
The specialisation of our species is storytelling -- and yet, some people say, we are really just telling the same stories again and again. Welcome to Episode 69 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit discusses the classic book by Christopher Booker, The Seven Basic Plots. Booker asserts that there are just seven storylines we recycle again and again -- and all of literature & Hollywood & Bollywood & Tollywood & Lol...
Oct 25, 2024•45 min•Season 1Ep. 69
Inflation is a tax on the poor. High and variable inflation can shatter the fine interplay of incentives and information within an economy. And, as Milton Friedman famously said, inflation is always and everywhere a monetary phenomenon. The state is responsible -- and the central bank's one job should be to keep inflation in check. Thankfully, we got that right with inflation targeting. Welcome to Episode 68 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In thi...
Oct 14, 2024•1 hr 4 min•Season 1Ep. 68
In the last episode, Amit and Ajay spoke about how the state should never mess with the price system. Well, the exchange rate is the most important price -- and the state shouldn't try to control that either! Welcome to Episode 67 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay sheds light on one of his pet peeves -- people's obsession with the exchange rate. It doesn't matter if the rupee is 'strong' or 'weak', he argues -- these terms mea...
Oct 06, 2024•1 hr 17 min•Season 1Ep. 67
How do people in society fulfil each other's needs while being self-interested? No human person or committee could coordinate all this -- but the miraculous, decentralised system of prices do exactly this. And when you mess with prices, you harm society. Always. Welcome to Episode 66 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay describe how all interventions in the price system end badly & harm the poor -- from price caps to...
Oct 01, 2024•1 hr 19 min•Season 1Ep. 66
There was a time when India's pensions system grew to become a threat to the country. Then we fixed it -- kinda. And now it's going to hell again. Welcome to Episode 65 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay takes us through the history and evolution of pensions, why the Old Pension Scheme (OPS) was such a catastrophe, how there was a bipartisan consensus on the New Pension Scheme (NPS), and how this field is on fire again. And of ...
Sep 20, 2024•1 hr 43 min•Season 1Ep. 65
The world is at war -- and not all of it is in the obvious ways. There is a war around technology, and using technology, and the US and China are at the heart of it. Welcome to Episode 64 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay and Amit discuss the contours of the global tech wars playing out on the geopolitical stage. It is fundamental, it is fierce and it affects us all. TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: But a Distan...
Sep 13, 2024•56 min•Season 1Ep. 64
We often assume that all knowledge is recorded, and every generation builds on the knowledge of past generations. This is not true. Much knowledge is lost -- and some is regained. Welcome to Episode 63 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay discuss precious knowledge of remarkable things that we lost over time -- some of which we are slowly regaining! TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: The Witch Casts a Spell ...
Sep 12, 2024•59 min•Season 1Ep. 63
In academia and research, the pursuit of knowledge very often culminates in a paper. But even outside that field -- within any field, in fact -- knowledge must be pursued, parsed, processed and put down on paper. Everyone should know how to do this, even if you never want to write a paper in your life. Welcome to Episode 62 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay distills his experience of many decades of writing papers into a maste...
Aug 30, 2024•1 hr 9 min•Season 1Ep. 62
The people who change the world are people who go against the grain. And yet, challenging conventional wisdom, or living an unconventional life, can make you an Outlaw. Welcome to Episode 61 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay discuss a group of people who were ignored or reviled in their lifetimes -- and who we now remember as pathbreakers. For magnificent, detailed, juicy show notes, click here ....
Aug 23, 2024•1 hr 7 min•Season 1Ep. 61
Firms are awesome. They are the source of a country's prosperity. And so, some people make the blunder of assuming that you should run a country like a company. This is a terrible mistake. Welcome to Episode 60 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. For magnificent, detailed, juicy show notes, click here .
Aug 16, 2024•1 hr 6 min•Season 1Ep. 60
Should the state have a role in amplifying innovation? If so, what should it do? Welcome to Episode 59 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay and Amit argue furiously about whether the state should spend its resources trying to make innovation happen. But while they disagree on the Why, they agree on what How and the What: the blueprint laid out in Ajay's brilliant paper with RA Mashelkar and Susan Thomas. For magnificent, detailed...
Aug 09, 2024•1 hr 33 min•Season 1Ep. 59
There is great natural beauty in India -- but we get tourism wrong. We allow beautiful places to become tourist traps. The local people do not benefit enough. We don't care about sustainability. It need not be this way. Welcome to Episode 58 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay and Amit, recording the last of The Bir Sessions, discuss how Himalayan states can build tourism and grow their economies in a way that benefits the local...
Aug 03, 2024•51 min•Season 1Ep. 58
It is the moral imperative of every poor country to lift all its people out of poverty. And yet India, like so many other poor countries, has failed to do this. Development Economics carries much of the blame for this. Wrong beliefs and dangerous fashions within this field have mostly failed to help -- and sometimes caused much harm. Welcome to Episode 57 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. For magnificent, detailed, juicy show notes, click here ...
Jul 26, 2024•1 hr 39 min•Season 1Ep. 57
Everyone is raving about India's digital public goods -- or its digital public infrastructure, aka DPI. But is the picture all rosy? What is the flip side of this technological achievement? Welcome to Episode 56 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay and Amit talk about how such a government monopoly cannot be a good thing. In the long run, suppressing competition will hurt us. Firstly, it empowers the state more than it should, an...
Jul 20, 2024•59 min•Season 1Ep. 56
It is considered a truism that building infrastructure is always great for the economy. Roads, ports, airports & bridges always have huge positive externalities. But is this truism true? Yes -- and no. There is a good story; and there is a bad story. Welcome to Episode 55 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay talks about how infrastructure enabled a services revolution in India -- but did not move the needle when it became to ...
Jul 14, 2024•1 hr 2 min•Season 1Ep. 55
Education in India is broken. It is a tragic waste of our potential. How can it be fixed? Why will pumping in more spending solve nothing? What is the link between education & development? Why do we need to redefine education? Welcome to Episode 54 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay give a comprehensive lay of the land in the field of education in India, challenging many conventional notions on the way. For magnifi...
Jul 05, 2024•1 hr 41 min•Season 1Ep. 54
Cycling is physically one of the most gruelling sports in the world -- and it requires as much of the mind as of the body. Welcome to Episode 53 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit explains his passion for cycling by telling us how the sport works. Amit and Ajay discuss the kinds of races and the kinds of racers. They discuss why it is a team sport. They get into deep nuances of strategy -- and the drama of some of the great sto...
Jun 29, 2024•1 hr 9 min•Season 1Ep. 53
We love chess -- and now, as it has exploded as a spectator sport, so do millions of others. But why do we love it so much? What does it mean for India that D Gukesh has qualified for the World Championship match? How did Vishy Anand inspire a generation of grandmasters to emerge? What role do computers play? Welcome to Episode 52 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit takes us through a history of the World Chess Championships, al...
Jun 21, 2024•1 hr 39 min•Season 1Ep. 52
We have normalized lines on maps -- but they are unnatural to the way we live. They are toxic in the ways they push us to think of people in categories decided by the accidents of geography and politics. We must free our minds. We must tear down these walls. Welcome to Episode 51 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. For magnificent, detailed, juicy show notes, click here ....
Jun 14, 2024•41 min•Season 1Ep. 51
Hooray! We've reached episode 50, and it's time for an AMA. In this episode, Amit and Ajay answer questions from gentle readers that were solicited through Twitter and elsewhere. No holds barred, straight from the heart! This episode was first published on YouTube on June 7, 2024. For magnificent, detailed, juicy show notes, click here .
Jun 07, 2024•2 hr 5 min•Season 1Ep. 50
Podcasting is such an exciting medium. Would YOU like to start a podcast? Do you have questions about first principles & what you need to get started? Here's our attempt at a podcasting masterclass! Welcome to Episode 49 of Everything is Everything, a weekly podcast hosted by Amit Varma & Ajay Shah. Started in 2017, The Seen and the Unseen went against conventional wisdom & built up a cult audience. In this episode, Amit shares everything he has learnt about podcasting, all the way f...
Jun 07, 2024•1 hr 29 min•Season 1Ep. 49
In these insular times of shrill nationalistic rhetoric, there is a danger that we may become less globalised instead of more. But internationalisation (aka I18N) is key to India's progress. The more Indian firms learn to compete in the global marketplace, the more our nation will prosper. Welcome to Episode 48 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay shares his thinking around what I18N implies, how it involves more than exports, an...
Jun 07, 2024•1 hr 1 min•Season 1Ep. 48
India is too large to be governed in a top-down way, with an all-powerful center. It makes a mockery of democracy. Decentralisation is the only way out. Welcome to Episode 47 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay discuss how a country as large and diverse as India needs more local government. But what does this mean in practical terms? Should we be happy with dictatorial chief ministers? How does democracy work at the lev...
Jun 07, 2024•1 hr 21 min•Season 1Ep. 47
It is fashionable for privileged elites to have ideas about the world that make them feel virtuous -- but end up harming the poor. Stay away from such Luxury Beliefs! Welcome to Episode 46 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay discuss how socialism, focusing on inequality, banning victimless crimes and being generally against capitalism can fill you with a sense of your own goodness -- but also end up hurting the poor. Di...
Jun 07, 2024•53 min•Season 1Ep. 46
