The Indicator from Planet Money

Iran's weaponization of the Strait of Hormuz illustrates a growing trend in modern conflict: economic chokepoints used as weapons of war, according to author Edward Fishman.

On NPR's "The Indicator from Planet Money," Fishman discussed his book "Chokepoints: American Power in the Age of Economic Warfare," arguing that the United States pioneered this form of conflict decades ago — and that it has now sparked a global economic arms race.

The concept is straightforward: control a critical point in the global supply chain, and you can inflict enormous economic damage without firing a shot. Iran's threats to close the Strait of Hormuz, through which roughly 20 percent of the world's oil flows, is the latest and most visible example. But Fishman traces the strategy back to U.S. sanctions regimes that weaponized the dollar's dominance in global finance.

The result is a world where economic warfare has become routine. Sanctions, trade restrictions, supply chain manipulation, and resource access denial are now standard tools of statecraft — used by the U.S., China, Russia, Iran, and others. The difference from traditional military conflict is that economic warfare often harms civilians more than combatants and can last for years without a clear resolution.

**What This Means For You:** The next time gas prices spike or a supply chain disruption hits your wallet, understand that you're experiencing economic warfare — not just market forces. The chokepoints that matter most to your daily life (energy, semiconductors, food) are increasingly contested terrain. Paying attention to these dynamics isn't just about understanding the news; it's about protecting your financial decisions from geopolitical shocks you didn't see coming.