There was nothing inevitable or natural about the rise of US finance capitalism in the early twentieth century. In Dollars and Dominion: US Bankers and the Making of a Superpower , Mary Bridges shows how US foreign banking began as a side hustle of Gilded Age tycoons and evolved into a more staid, bureaucratized network for bolstering US influence overseas. The early waves of US bankers built a network of international branch banks that relied on the power of the US government, copied the exampl...
Oct 01, 2024•58 min•Ep. 57
State capitalism. Socialism with Chinese characteristics. A socialist market economy. There have been numerous descriptions of the Chinese economy. However, none seems to capture the predatory, at times surreal, nature of the economy of the world’s most populous nation – nor the often bruising and mind-bending experience of doing business with the Middle Kingdom. Ian Williams, a long-standing reporter on China, has a new argument in Vampire State: The Rise and Fall of the Chinese Economy (Birlin...
Sep 27, 2024•1 hr 1 min•Ep. 102
In The Black Tax: 150 Years of Theft, Exploitation, and Dispossession in America (U Chicago Press, 2024), Andrew W. Kahrl uncovers the history of inequitable and predatory tax laws in the United States. He examines the structural traps within America’s tax system that have forced Black Americans to pay more for less despite being taxpayers with fewer resources compared to white taxpayers. Kahrl exposes these practices, From Reconstruction up to the present, Kahrl exposes these practices to descr...
Sep 25, 2024•57 min•Ep. 477
After close to three decades of the hegemony of free market ideas, the state has made a big comeback as an economic actor since the 2008 financial crisis. China’s state-owned companies and international financial institutions have made headlines for their growing influence in the world economy. State-backed investment vehicles based in the Gulf states have made high-profile investments in global real estate markets and professional sports, while their state-owned firms have become world leaders ...
Sep 22, 2024•1 hr 8 min•Ep. 105
Developing Asia has been the site of some of the last century's fastest growing economies as well as some of the world's most durable authoritarian regimes. Many accounts of rapid growth alongside monopolies on political power have focused on crony relationships between the state and business. But these relationships have not always been smooth, as anti-corruption campaigns, financial and banking crises, and dramatic bouts of liberalization and crackdown demonstrate. Why do partnerships between ...
Sep 14, 2024•55 min•Ep. 161
In The Practice of Philanthropy: A Guide for Foundation Boards and Staff (Barlow Publishing, 2024), author Malcolm Macleod addresses the unique challenges of running a foundation, offering practical insights and wisdom from his years of experience in the field. The book explores key elements necessary for creating meaningful impact, including building strong relationships with non-profits, maximizing the potential of a governing board, and effectively managing an endowment. Macleod skillfully we...
Sep 08, 2024•56 min•Ep. 3
In Unexpected Revolutionaries: How Central Banks Made and Unmade Economic Orthodoxy (Cornell University Press, 2024), Dr. Manuela Moschella investigates the institutional transformation of central banks from the 1970s to the present. Central banks are typically regarded as conservative, politically neutral institutions that uphold conventional macroeconomic wisdom. Yet in the wake of the 2008 global financial crisis and the 2020 COVID-19 crisis, central banks have upended observer expectations b...
Sep 01, 2024•44 min•Ep. 56
Business and Human Rights Law is a rapidly growing area of law, which has dramatically transformed many parts of international law. In this new volume in the Elements series, Robert McCorquodale explores how the responsibility for human rights abuses has transitioned from a purely state obligation to also being the responsibility of businesses. Business responsibility for human rights impacts have become subject both to legislation and to court decisions whenever their activities lead to human r...
Aug 22, 2024•1 hr 18 min•Ep. 231
The problems that gave rise to the widespread desire to introduce a common currency were myriad. While trade was able to cope with-and even to benefit from-the parallel circulation of many different types of coin, it nevertheless harmed both the common people and the political authorities. The authorities in particular suffered from neighbours who used their comparatively good money as raw material to mint poor imitations. Debasing their own coinage provided an, at best, short-term solution. Ove...
Aug 21, 2024•51 min•Ep. 109
The Power to Persuade: Strategic Arguing at the World Trade Organization (University of Toronto Press, 2024) by Dr. Angela Geck provides an innovative and eye-opening analysis of strategic arguing as a means of power in global politics. Based on an empirical case study of arguing processes in the World Trade Organization (WTO), the book shows how discursive contexts, institutional norms and procedures, and unequal human resources condition who has the power to persuade. While accounts of arguing...
Aug 20, 2024•1 hr 5 min•Ep. 160
The dramatic inside story of the most important case in the history of sovereign debt law Unlike individuals or corporations that become insolvent, nations do not have access to bankruptcy protection from their creditors. When a country defaults on its debt, the international financial system is ill equipped to manage the crisis. Decisions by key individuals—from national leaders to those at the International Monetary Fund, from holdout creditors to judges—determine the fate of an entire nationa...
Aug 20, 2024•57 min•Ep. 108
What is money? Why are trillions of dollars, euros, pounds, and yen being printed, but not spent, and what does this reveal about the state of our society? Money, as we know it, was born in 1971 when currencies unlinked from gold. During its adolescence, money was hyperactive, causing rampant inflation. Three decades of mature growth followed. But as it reaches the age of fifty, money is changing again, and facing a figurative mid-life crisis. Zvi Schreiber's book Money, Going Out of Style: The ...
Aug 15, 2024•28 min•Ep. 159
In an era where the financial stability of many arts organizations is increasingly precarious, arts philanthropy stands at a critical juncture. The recent COVID-19 pandemic of 2020-21 laid bare the vulnerabilities in existing funding structures, highlighting just how fragile these lifelines can be. Coupled with a surge in social initiatives that demand attention and resources, the way the arts are funded is undergoing scrutiny and transformation. A new wave of philanthropists—individuals with fr...
Aug 11, 2024•37 min•Ep. 2
More than any other global institution, the US Federal Reserve’s decisions and communications drive capital markets and alter financial conditions everywhere from Seattle to Seoul. While its interest rate are set by an expert committee, for almost a century, the Fed’s core philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In this podcast series, Tim Gwynn Jones - a veteran central bank "watcher" - talks to authors of books about the Fed's m...
Aug 09, 2024•47 min•Ep. 158
More than any other global institution, the US Federal Reserve’s decisions and communications drive capital markets and alter financial conditions everywhere from Seattle to Seoul. While its interest rate are set by an expert committee, for almost a century, the Fed’s core philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In this podcast series, Tim Gwynn Jones - a veteran central bank "watcher" - talks to authors of books about the Fed's m...
Aug 08, 2024•46 min•Ep. 157
After two government bailouts of the American economy in less than twenty years, free market thought is due for serious reappraisal. Free Market: The History of an Idea (Basic Books, 2022) shows how the idea became so powerful, why it succeeded, and why it has failed so spectacularly. In 1990, the G7 Countries enjoyed 70 percent of world GDP. In the face of the collapse of the Soviet Union, it was supposed to be a story of the success of free markets. However, in the past thirty years, that numb...
Aug 08, 2024•1 hr 28 min•Ep. 221
In this episode, Caleb Zakarin and Uri Bram dive into the world of effective charitable giving through the lens of GiveWell, an organization known for its rigorous evaluation of charities. Uri explains how GiveWell identifies and recommends high-impact charities, discussing the data-driven criteria and ethical considerations behind their assessments. The conversation highlights real-world examples of how smart giving can lead to substantial, measurable benefits. Whether you're a seasoned donor o...
Aug 07, 2024•27 min•Ep. 1
More than any other global institution, the US Federal Reserve’s decisions and communications drive capital markets and alter financial conditions everywhere from Seattle to Seoul. While its interest rate are set by an expert committee, for almost a century, the Fed’s core philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In this podcast series, Tim Gwynn Jones - a veteran central bank "watcher" - talks to authors of books about the Fed's m...
Aug 07, 2024•46 min•Ep. 156
More than any other global institution, the US Federal Reserve’s decisions and communications drive capital markets and alter financial conditions everywhere from Seattle to Seoul. While its interest rate are set by an expert committee, for almost a century, the Fed’s core philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In this podcast series, Tim Gwynn Jones - a veteran central bank "watcher" - talks to authors of books about the Fed's m...
Aug 06, 2024•1 hr 2 min•Ep. 155
Historically, the insurance industry in America has been fragmented. As a result, there have been debates and conflicts over the proper roles of federal and state governments, business, and the responsibilities of individuals. Who should cover the risks of loss? And to what extent should risk be shared and by whom? In Uncovered: The Story of Insurance in America ( Oxford UP, 2023), Katherine Hempstead answers these questions by exploring the history of the insurance business and its regulation i...
Aug 05, 2024•43 min•Ep. 106
It is a truth universally acknowledged that as a society we want successful, profitable companies because, as Jan Eeckhout says in The Profit Paradox: How Thriving Firms Threaten the Future of Work (Princeton UP, 2021), “we tend to accept that when firms do well, the economy does well”, even when that's not true. The rising tide, in some cases, does not lift all boats. Even when a few strong players have outsized gains, the rest of the market can suffer. These trends have a ripple effect over ti...
Jul 29, 2024•1 hr 9 min•Ep. 154
The struggle against neoliberal order has gained momentum over the last five decades – to the point that economic elites have not only adapted to the Left's critiques but incorporated them for capitalist expansion. Venture funds expose their ties to slavery and pledge to invest in racial equity. Banks pitch microloans as a path to indigenous self-determination. Fair-trade brands narrate consumption as an act of feminist solidarity with women artisans in the global South. In Capitalist Humanitari...
Jul 21, 2024•1 hr 11 min•Ep. 471
There is no shortage of books on the growing impact of data collection and analysis on our societies, our cultures, and our everyday lives. David Hand's new book Dark Data: Why What You Don't Know Matters (Princeton University Press, 2020) is unique in this genre for its focus on those data that aren't collected or don't get analyzed. More than an introduction to missingness and how to account for it, this book proposes that the whole of data analysis can benefit from a "dark data" perspective—t...
Jul 08, 2024•1 hr 18 min•Ep. 52
Daniel Susskind examines the brief and powerful history of economic growth and puts it into perspective with human prosperity in Growth: A History and a Reckoning (Harvard UP, 2024). Susskind acknowledges the tremendous benefits of economic growth, which he credits with freeing billions of people from poverty and allowing us to live longer and healthier lives. He also recognizes the real and substantial costs of our relentless pursuit of growth at the expense of other considerations and moral ch...
Jul 03, 2024•1 hr 6 min•Ep. 153
What exactly is capitalism? How has the meaning of capitalism changed over time? And what’s at stake in our understanding or misunderstanding of it? In Capitalism: The Story Behind the Word (Princeton UP, 2022), Michael Sonenscher examines the history behind the concept and pieces together the range of subjects bound up with the word. Sonenscher shows that many of our received ideas fail to pick up the work that the idea of capitalism is doing for us, without us even realizing it. “Capitalism” w...
Jun 30, 2024•51 min•Ep. 217
In 2012, to stave off the collapse of their currency union, Europe’s leaders sought to end the so-called “doom loop” between the solvency of their governments and their banking systems. Two years later, a banking union was born. Created as a crisis response, like the postwar coal and steel community, this ten-year-old union is another step in Europe’s long integrationist road. Yet – as Nicolas Véron points out in Europe’s Banking Union At Ten: Unfinished Yet Transformative (Bruegel, 2024) - the ...
Jun 28, 2024•43 min•Ep. 34
Amy Schiller, who spent a number of years working in both political and major gift fundraising, has a new book detailing some of the fundamental problems currently afflicting American philanthropy and how to correct some of these problems. Schiller, a political theorist currently at Dartmouth College’s Society of Fellows, brings two important perspectives to her research in T he Price of Humanity: How Philanthropy Went Wrong—And How to Fix It (Melville House, 2023)—combining her experience in th...
Jun 27, 2024•49 min•Ep. 720
A political history of the rise and fall of American debt relief. Americans have a long history with debt. They also have a long history of mobilizing for debt relief. Throughout the nineteenth century, indebted citizens demanded government protection from their financial burdens, challenging readings of the Constitution that exalted property rights at the expense of the vulnerable. Their appeals shaped the country’s periodic experiments with state debt relief and federal bankruptcy law, constit...
Jun 25, 2024•58 min•Ep. 184
In The Soviet Union and the Construction of the Global Market. Energy and the Ascent of Finance in Cold War Europe, 1964–1971 (Cambridge University Press, 2023), Oscar Sanchez-Sibony reveals the origins of our current era in the dissolution of the institutions that governed the architecture of energy and finance during the Bretton Woods era. He shows how, in the second half of the 1960s, the Soviet Union sought to dismantle the compartmentalized nature of Bretton Woods in order to escape its mat...
Jun 22, 2024•54 min•Ep. 105
In recent years, philanthropy, the use of private assets for the public good, has come under renewed scrutiny. Do elite philanthropists wield too much power? Is big-money philanthropy unaccountable and therefore anti-democratic? And what about so-called "tainted donations" and "dark money" funding pseudo-philanthropic political projects? The COVID-19 pandemic has amplified many of these criticisms, leading some to conclude that philanthropy needs to be fundamentally reshaped to play a positive r...
Jun 19, 2024•38 min•Ep. 222
