The new economic arms race

The new economic arms race

From The Indicator from Planet Money by NPR

April 29, 2026 · 9 min

About this episode

The episode discusses the weaponization of economic choke points in modern warfare with guest Edward Fishman.

Iran’s weaponization of the Strait of Hormuz is the perfect example of how modern warfare is increasingly waged, not only with drones and bombs, but also through the weaponization of economic choke points. Today on the show, we talk to author Edward Fishman, who says the U.S. innovated a new kind of economic warfare a couple of decades ago, and that has sparked a new economic arms race. Edward Fishman’s book is “ Chokepoints: American Power in the Age of Economic Warfare ”. The Indicator has a weekly newsletter! Be among the first to sign up now: npr.org/indicatornewsletter Related episodes: Think the oil shock is bad in the US? Look here Fixing the oil crisis might not fix the Persian Gulf How are drivers riding out the gas crisis? For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org . Fact-checking by Sierra Juarez . Music by Drop Electric . Find us: TikTok , Instagram , Facebook , Newsletter . See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

People in this episode

Host: NPR

Guest: Edward Fishman

Topics covered

  • economic warfare
  • Strait of Hormuz
  • economic arms race
  • modern warfare
  • oil crisis

Keywords

  • economic warfare
  • Strait of Hormuz
  • Edward Fishman
  • oil crisis
  • choke points

Mentioned in this episode

Organizations: NPR

Books & works: Chokepoints: American Power in the Age of Economic Warfare

Places: Strait of Hormuz, United States

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