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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. If you like watching Everything is Everything, please like, subscribe, share, comment. :) TABLE OF CONTENTS: 00:00 Packaging 00:13 Introduction: The Light Triad! 02:23 Chapter 1: The Feedback Loops are Different 11:13 Chapter 2: The State is a Guaranteed Monopoly 15:37 Chapter 3: The Problem of Coercive Power 20:22 Chapter 4: Complexity 28:43 Chapter 5: Rules vs Deals 37:17 Chapter 6: Concentrated Power & Dispersed Power 47:07 Chapter 7: Time Horizons 51:48 Chapter 8: Incentives Are the Problem, Not People 58:09 Chapter 9: The Marketplace Metaphor 1:00:15 Chapter 10: Recommendations USEFUL RESOURCES: 1. Amit on Twitter: / amitvarma 2. Ajay on Twitter: / ajay_shah 3. The Seen and the Unseen -- Amit's audio podcast: https://seenunseen.in/ (Also on all podcast apps. And YouTube, though less than 1% of listens come from here: / @theseenandtheunseen ) 4. Ajay's organisation, XKDR Forum, on YouTube: / @xkdr 5. In Service of the Republic -- Vijay Kelkar and Ajay Shah: https://amzn.eu/d/hwGILb3 6. The Art of Clear Writing -- Amit's writing course: https://indiauncut.com/clear-writing/ 7. The India Uncut Newsletter -- Amit's newsletter at https://indiauncut.substack.com/ 8. How Family Firms Evolve -- Episode 34 of Everything is Everything: • How Family Firms Evolve | Episode 34 | Eve... 9. From Imperial to Adaptive Firms -- Episode 37 of Everything is Everything: • From Imperial to Adaptive Firms | Episode ... 10. Graduating to Globalisation -- Episode 48 of Everything is Everything: • Graduating to Globalisation | Episode 48 |... 11. The Beauty of Finance -- Episode 21 of Everything is Everything: • The Beauty of Finance | Episode 21 | Every... 12. Beware of These Five Fallacies! -- Episode 45 of Everything is Everything: • Beware of These Five Fallacies! | Episode ... 13. The problems in India's official data -- Episode 21 of Big Ideas, featuring Rajeshwari Sengupta: • The problems in India's official data, Bi... 14. Demystifying GDP — Episode 130 of The Seen and the Unseen (w Rajeswari Sengupta): • Ep. 130: Demystifying GDP 15. What's Wrong With Indian Agriculture? -- Episode 18 of Everything is Everything: • What's Wrong With Indian Agriculture? | Ep... 16. Public Choice Theory Explains SO MUCH -- Episode 33 of Everything is Everything: • Public Choice Theory Explains SO MUCH | Ep... 17. The Problem With Digital Public Goods -- Episode 56 of Everything is Everything: • The Problem With Digital Public Goods | Ep... 18. The Double 'Thank You' Moment -- John Stossel: https://tinyurl.com/3r2e897p 19. Four Papers That Changed the World -- Episode 41 of Everything is Everything: • Four Papers That Changed the World | Episo... 20. The Long Road to Change -- Episode 36 of Everything is Everything: • The Long Road to Change | Episode 36 | Eve... 21. How to Do Development -- Episode 57 of Everything is Everything: • How to Do Development| Episode 57 | Everyt... 22. Lant Pritchett Is on Team Prosperity — Episode 379 of The Seen and the Unseen: • Ep 379: Lant Pritchett Is on Team Prosperity 23. Is Your Impact Evaluation Asking Questions That Matter? A Four Part Smell Test -- Last Pritchett: https://tinyurl.com/mjbnv2r3 24. The strategy and the tactics -- Ajay Shah: https://tinyurl.com/mspmc7e8 25. The essays of Paul Graham: https://www.paulgraham.com/articles.html 26. India Needs Decentralization -- Episode 47 of Everything is Everything: • India Needs Decentralization | Episode 47 ... 27. Quizzing is Not Just a Trivial Pursuit -- Amit Varma: https://tinyurl.com/u9jbnxuz 28. Why are firms short-sighted? -- Ajay Shah: https://www.mayin.org/ajayshah/MEDIA/... 29. Rethinking Innovation Policy -- Episode 59 of Everything is Everything: • Rethinking Innovation Policy | Episode 59 ... 30. Our Parliament and Our Democracy — Episode 253 of The Seen and the Unseen (w MR Madhavan): • Ep 253: Our Parliament and Our Democracy 31. When McKinsey Comes to Town -- Walt Bogdanich & Michael Forsythe: https://amzn.in/d/6vOpTi7 32. How To Know a Person -- David Brooks: https://amzn.in/d/ipbZsxx 33. The Art of Podcasting -- Episode 49 of Everything is Everything: • The Art of Podcasting | Episode 49 | Every... 34. Alice Munro on Amazon: https://tinyurl.com/bdztd6wb 35. Fierce Attachments -- Vivian Gornick: https://amzn.in/d/1TgpKD9 Produced by Amit Varma Shot by Vaishnav Vyas and Nomsita MS Haritashya: / vaishnav.vyas Edited by Nomsita MS Haritashya: / nomsitaharitashya Thanks to Gaurav Chintamani for helping with sound: / gaurav_chintamani Chapter image by Simahina: / i_am_simahina