Episode Details

Historian Stephen R. Bown joins Jay Martin to explore the rise and fall of empires through the lens of trade, technology, and human behavior. Drawing from his acclaimed book Merchant Kings, Bown connects past global power shifts—from sea otters and nutmeg to oil and cobalt—with today’s geopolitical landscape. They dive into cycles of history, proxy warfare, and the opaque ties between states and corporations, revealing how disruptive technologies and seemingly trivial commodities have repeatedly reshaped the world. This conversation offers deep historical insight with striking relevance to today’s investors and global citizens.

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0:00 - Intro

2:30 - Empire Collapse Patterns: Are We Repeating History?

7:21 - Why History Moves in 100-Year Cycles

9:05 - Is This Time Really Different?

22:18 - How Much of Our System Is Hidden from Us?

24:37 - Could One Man Have Redrawn North America?

29:22 - Would We Go to War for Copper?

53:43 - What’s Next for Stephen R. Bown?

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