Ralph welcomes Dr. Feroze Sidhwa, an American trauma surgeon who worked at the European Hospital in Khan Younis. They'll discuss Dr. Sidhwa's experience on the ground in Gaza, as well as his letter (co-signed by 45 other American medical practitioners) to President Biden, VP Harris, and First Lady Dr. Jill Biden. Then, Ralph is joined by University of Chicago Booth School of Business Professor Luigi Zingales to look at why business schools are setting capitalism up to fail.
Dr. Feroze Sidhwa is a trauma and critical care surgeon as well as a Northern California Veterans Affairs general surgeon, and he is Associate Professor of Surgery at the California Northstate University College of Medicine. Dr. Sidhwa served at the European Hospital in Khan Younis in March and April of this year, and he has done prior humanitarian work in Haiti, the West Bank, Ukraine, and Zimbabwe. Dr. Sidhwa and 45 other American doctors and nurses who have served in Gaza recently sent a letter exhorting President Biden, VP Harris, and First Lady Dr. Jill Biden to effect an immediate ceasefire.
Gaza is definitely unique compared to anywhere else that I've been—the level of violence, the level of displacement, the level of deprivation of normal things that society provides.
Dr. Feroze Sidhwa
There's so much in this letter, listeners, that you need to know about because it's such heartfelt and professionally documented close observation. This short interview cannot do justice to the horrors that Dr. Sidhwa and others observed—and they were just there for a few weeks.
Ralph Nader
One of the things that we tried to emphasize in the letter is that we don't have anything to say about the politics of the Israel-Palestine conflict…We, as physicians, that's not what we're talking about. We’re talking about our own participation in a massive unprecedented assault on a civilian population. By a military that we fund—we supply, literally every day. We provide the training. We provide all the diplomatic cover. The economic support. Everything is coming from the United States. And in the end, the Israelis have already decided what they're going to do. They have decided to destroy Gaza. If half the people there die, oh well, if all of the people there die, oh well. But we don't have to be involved in it.
Dr. Feroze Sidhwa
I think the situation in Gaza has reached such a level, the political moment in the U.S. with Biden not running again, has reached a certain level, and then with Netanyahu's bonker address to Congress—when Nancy Pelosi is openly criticizing the Prime Minister of Israel, he's really screwed up.
Dr. Feroze Sidhwa
Luigi Zingales is the Robert C. McCormack Distinguished Service Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business. He co-developed the Financial Trust Index, which is designed to monitor the level of trust that Americans have toward their financial system. He is currently a faculty research fellow for the National Bureau of Economic Research, a research fellow for the Center for Economic Policy Research, a fellow of the European Governance Institute, and the director of Chicago Booth’s Stigler Center for the Study of the Economy and the State. Professor Zingales is the co-host (with Bethany McLean) of the podcast Capitalisn't, and co-author (with Raghuram G. Rajan) of the book Saving Capitalism from Capitalists.
These days, there is a lot of attention in business school about the environment, about so-called social responsibility, about all these aspects…but business schools like to keep separate the social aspects from the business aspects. So, in many places now there are classes on social entrepreneurship—which is something very interesting where people try to use their entrepreneurial skills to promote an initiative that is good for society at large, even if it’s not necessarily profitable. But then if you are not a social enterprise, then you have to be the most capital, profit-maximizing firms on the face of the earth. There is nothing in between.
Professor Luigi Zingales
One year there was a management conference, and I organized a session on corporate fraud. And I expected a lot of people to show up and listen to the panel. In fact, it was a fiasco. Almost nobody showed up, because they don't want to confront their own limitations and problems. They want to see the more glitzy and shiny aspects of success. And that's what attracts them to business school, and that's what we end up selling to them. So I think that we are in part responsible because we cater too much to their own demand.
Professor Luigi Zingales
In Case You Haven’t Heard with Francesco DeSantis
News 7/31/24
1. On Monday, nine Israeli soldiers were arrested on suspicion of raping a Palestinian prisoner at the Sde Teiman detention facility. In response, the Middle East Eye reports “Dozens of people…including members of parliament and Heritage Minister Amichai Eliyahu, gathered outside Sde Teiman and stormed the…facility…[and] Hours later, some 1,200 rioters gathered outside the Beit Lid base, where the nine suspects were taken for questioning.” This piece quotes military chief of staff Herzi Halevi who described the riots as “bordering on anarchy” and said the rioters harmed the military. Yet, “Finance Minister Bezalel Smotrich described the suspects as as ‘heroic warriors’…[and] National Security Minister Itamar Ben Gvir, who oversees the prisons where Palestinians are detained, called [the suspects] the ‘best heroes’ and described the arrests as ‘shameful’.” One of these soldiers has now been released, according to the Middle East Monitor.
2. Israeli Prime Minister Netanyahu addressed Congress last week amid mass protests in Washington D.C. During his speech, Axios reports six spectators were arrested for “disrupting” the address. All six of these demonstrators are family members of the Israeli hostages. Capitol Police spokesperson Brianna Burch is quoted saying “demonstrating in the Congressional Buildings is against the law.”
3. In the U.K., the new Labour government is sending mixed messages on their Middle East policy. Late last week, the government announced that they would drop the United Kingdom’s opposition to the International Criminal Court’s arrest warrant against Netanyahu, per CNN. Yet this week, Foreign Secretary David Lammy announced that despite campaign promises, “Labour will…delay recognition [of a Palestinian state] indefinitely, making it conditional on Israel feeling ‘safe and secure,’” as reported by British blog Stats for Lefties. Labour continues to face pressure from independent MPs like Jeremy Corbyn on this issue.
4. This week, President Nicolas Maduro was reelected in Venezuela. Elon Musk was caught spreading misinformation implying that Maduro engaged in election fraud – sharing a video that he claimed showed ballot boxes being stolen, when in fact the ballot boxes in question were actually air conditioning units, per Mediaite. The National Lawyer’s Guild International Committee however, which sent a delegation to monitor the election, “observed a transparent, fair voting process with scrupulous attention to legitimacy, access to the polls and pluralism.” The NLG statement went on to decry “Despite the soundness of the electoral process, the U.S. backed opposition, with support from an anti-Maduro western press has refused to accept the results, undermining the stability of Venezuela’s democracy.”
5. Forbes reports that Disney has reached a deal with the unionized workers at Disneyland, ratifying a three-year contract that includes “a $24 hourly minimum wage…wage increases, seniority increases, more flexible attendance and sick leave policies, and other benefits.” This deal thus averts the first strike at the Anaheim park in four decades. Last week, More Perfect Union reported that the 14,000 unionized Disneyland workers “authorized a strike by 99%.”
6. Jacobin reports “SpaceX [has won] a First Battle in Its Assault on the NLRB.” In this piece, People’s Policy Project founder Matt Bruenig lays out how “SpaceX...[winning] a preliminary injunction in a Texas federal district court against the National Labor Relations Board… moves us closer to a potential Supreme Court decision declaring the NLRB unconstitutional.” This is the latest installment in the corporatist war on administrative law, which has already scored major victories in the SEC v. Jarkesy and Loper Bright Enterprises v. Raimondo cases. Bruenig notes that “For now, the district court’s decision simply prevents the NLRB from processing a fairly run-of-the-mill unfair labor practice charge against SpaceX. The real question is going to be what the Supreme Court does once this case makes it to their docket. But in the meantime…it is likely that other companies subject to NLRB proceedings will seek similar injunctions.”
7. A storm is brewing within the Kamala Harris campaign over Federal Trade Commission Chair Lina Khan. Democracy Now! Reports “some of the Democratic Party’s biggest donors, including LinkedIn co-founder Reid Hoffman, are openly pushing Harris to fire…Khan, who has led Biden’s antitrust efforts.” NBC notes that Hoffman is a billionaire megadonor and that other megadonors like Barry Diller are also calling for Khan’s removal, and adds that “Khan’s pro-consumer, pro-worker, anti-monopoly agenda has attracted no small amount of hate from powerful and monied interests.” On the other side, Senators Bernie Sanders and Elizabeth Warren and the Service Employees International Union – a close labor ally of Harris – have defended Khan. This battle illustrates the cross-cutting interests Harris will have to navigate as the Democratic nominee, and possibly, as president. We urge the Vice President to back Khan, not the billionaire donor class.
8. The Washington Post is out with a heartbreaking new report on the increase of homelessness among “Working Americans with decent-paying jobs who simply can’t afford a place to live.” This report cites data showing that homelessness, already at record highs, is only getting worse – growing by 61% in Southeast Texas over the past year, 35% in Rhode Island, and 20% in northeast Tennessee. Throughout the country, rents have risen by over 32% in four years and overall homelessness by 12%.
9. In another disturbing economic trend, a new academic working paper out of UCLA and USC analyzes how the “widespread legalization of sports gambling over the past five years has impacted consumer financial health.” The most-discussed findings of this paper have to do with debt, with a “roughly 28% increase in bankruptcies and an 8% increase in debt transferred to debt collectors,” along with substantial increases in auto loan delinquencies and use of debt consolidation loans. As the researchers put it “these results indicate that the ease of access to sports gambling is harming consumer financial health by increasing their level of debt.”
10. Finally, for some good news, the White House issued a statement Monday celebrating that “As of today, over 600,000 Teamster workers and retirees have pensions protected from devastating cuts,” as part of Biden’s signature American Rescue Plan. This announcement came after the administration acted to protect 70,000 worker pensions in New England, building on similar actions in Ohio, Michigan, Illinois, Missouri, Wisconsin, Minnesota, and Pennsylvania. As the Boston Globe explains “The [American Rescue Plan] set up a special financial assistance program that allows struggling multi-employer pension plans to apply for assistance from the Pension Benefit Guaranty Corporation, a federal agency that protects the retirement incomes of workers in defined benefit pension plans.” The administration is paying particular attention to the protection of Teamsters, as that union’s leadership has been flirting with an embrace of the GOP. Not one Republican voted for the American Rescue Plan.
This has been Francesco DeSantis, with In Case You Haven’t Heard.
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