Chinese philanthropic foundations navigate a uniquely challenging terrain shaped by authoritarian governance. The Governance of Philanthropic Foundations in Authoritarian China: A Power Perspective (Routledge, 2022) examines these complexities, delivering a novel multilevel analysis of the power dynamics that underpin the governance of nonprofit organizations within an authoritarian context.Chinese philanthropic foundations, with their distinct democratic culture, grapple with a unique set of challenges. The government’s evolving methods of control often lead to stringent regulations that limit the foundations’ autonomy. Foundations that heavily rely on individual donations are particularly vulnerable to these pressures, potentially transforming into conduits of authoritarianism rather than champions of democratic values.This book offers a comprehensive and, at times, bleak picture of the conditions under which Chinese foundations operate, offering critical insights into the future trajectory of the nonprofit sector in China. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

Think that today's debates about the role of the Federal Reserve Bank, financial regulation, "too big to fail", etc. are new? Think again. Who should control banks, who should regulate banks, what should banks even do--these questions have been debated since the founding of the Republic. Replace CNBC's David Faber with Alexander Hamilton, and Joe Kernan with Thomas Jefferson (or James Madison) and the arguments about banking, moral hazard, and regulation would be largely the same, though the attire would be quite different.Kathleen Day's new book Broken Bargain: Bankers, Bailouts, and the Struggle to Tame Wall Street (Yale University Press, 2019) provides a detailed two-century history of the give and take between government authority and financial institutions (and the individuals caught between them). The challenges over time have changed--the absence of a single currency in the early 19th century, insufficient credit in the late 19th century, the roaring and patently stupid 1920s, and then the whole range of financial innovations in the postwar period--but the key issues recur over and over again. Day sides in the end with the need for consistent regulation from impartial and empowered bureaucrats, but alas, the last two centuries have shown that they are hard to come by. Not everyone will agree with her take on banks and regulation, but there can be no doubt about the underlying "capitalism is messy" theme running through our history and this book.Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter @Back2BizBook or at http://www.strategicdividendinvestor.com Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

In this special episode, we talk to two authors about the role of financial institutions in enslavement. Sharon Ann Murphy, associate professor of history, argues in Banking on Slavery Financing Southern Expansion in the Antebellum United States (University of Chicago Press, 2023) that Southern banks’ willingness to use enslaved people as loan collateral led to the exponential growth of Southern enslavement during the 1820-30s. In filmmaker, producer, and author David Montero’s book, The Stolen Wealth of Slavery: A Case for Reparations (Hatchette Book Group, 2024), he follows Wall Street bankers and large Northern banks were critical to the financing of slavery and, in turn, who massed incredible wealth from enslavement.Dr. N’Kosi Oates is a curator and assistant professor. He earned his Ph.D. in Africana Studies at Brown University. Find him on Twitter at DrNKosiOates. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

Esoteric and frequently disinterested in the public good, financial institutions can be hard to navigate for those seeking to advance social welfare. My Episode 10 guest Paul Katz of the Jain Family Institute is trying to change that by building innovative tools to help visionary leaders in Brazil grow social wealth. During our lively exchange, Paul helped me understand how much history fits into his efforts and his organization's vision. We talked about Paul's discovery of his superpowers derived from a PhD in history, the importance of being a well-rounded researcher, and how it's often difficult to separate neatly quant from qual. We also discussed the significance of networking and wondered why historians routinely undervalue their expertise, thereby undercutting their chances of success in non-academic domains. Ultimately, our conversation is about the surprising ways to use history for the public good, contribute to organizational effectiveness, and explore new horizons for professional growth. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

A sweeping history of the United States’ economy and politics, in Shock Values: Prices and Inflation in American Democracy (U Chicago Press, 2024), Carola Binder reveals how the American state has been shaped by a massive, ever-evolving effort to insulate its economy from the real and perceived dangers of price fluctuations. Carola Binder narrates how the pains of rising and falling prices have brought lasting changes for every generation of Americans. And with each brush with price instability, the United States has been reinvented—not as a more perfect union, but as a reflection of its most recent failures.Shock Values tells the untold story of prices and price stabilization in the United States. Expansive and enlightening, Binder recounts the interest-group politics, legal battles, and economic ideas that have shaped a nation from the dawn of the republic to the present.Carola Binder is Associate Professor and Chair of Economics at Haverford College. Twitter.Brian Hamilton is chair of the Department of History and Social Science at Deerfield Academy. Twitter. Website. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

Peter Ireland (Boston College Economics Professor) joins the podcast to discuss his career as a monetary economist, his views on the history of monetarism, New Keynesian models, and the Shadow Open Market Committee which Peter sits on and celebrates its 50th anniversary.Jon Hartley is an economics researcher with interests in international macroeconomics, finance, and labor economics and is currently an economics PhD student at Stanford University. He is also currently a Research Fellow at the Foundation for Research on Equal Opportunity, a Senior Fellow at the Macdonald-Laurier Institute, and a research associate at the Hoover Institution. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

In his latest book, The Road to Freedom: Economics and the Good Society (W. W. Norton, 2024), Nobel laureate Joseph E. Stiglitz rethinks the nature of freedom and its relationship to capitalism. While many agree that freedom is good and we want more of it, we don’t agree about what it is, whose freedom we’re talking about, or what outcomes we desire.Stiglitz asks the question: whose freedom are we talking about, and what happens when one person’s freedom means a loss of freedom for someone else?Narratives of neoliberalism have been accepted as gospel despite decades of research showing that less regulation and more trust in the 'hidden hand' of free market economics do not produce greater prosperity or freedom for most individuals. Stiglitz examines how unregulated markets reduce economic opportunities for majorities by prioritizing the freedom of corporations and wealthy individuals over that of individuals, resulting in the siphoning wealth from the many to ensure the freedom of the few, from property and intellectual rights to education and opportunity. The Road to Freedom re-evaluates of what constitutes a good society and provides a roadmap to achieve it.Recommended reading:  The Groves of Academe by Mary McCarthy Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

India’s stock markets are booming. One calculation from Bloomberg puts India as the world’s fourth-largest equity market, overtaking Hong Kong, as domestic and foreign investors pile into the Indian stock exchange.But getting to the point where India’s stock markets—and its financial system more broadly—could work effectively took a long time. As Rajrishi Singhal tells it in Slip, Stitch and Stumble: The Untold Story of Financial Reforms in India (Viking, 2024), India’s financial system suffered from antiquated procedures, cartels and a confused paper trail that left the door for abuse wide open.In this interview, Rajrishi and I talk about India’s financial sector, its earlier dysfunction, how it was fixed—and scammers like Harshad Mehta, “The Big Bull.”Rajrishi Singhal has been a senior journalist, banker and public policy analyst. He was executive editor at the Economic Times, consulting editor with Mint, research and strategy head at a private sector bank and senior fellow for geoeconomic studies at a Mumbai-based think tank.You can find more reviews, excerpts, interviews, and essays at The Asian Review of Books. Follow on Twitter at @BookReviewsAsia.Nicholas Gordon is an editor for a global magazine, and a reviewer for the Asian Review of Books. He can be found on Twitter at@nickrigordon. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

Forest fires, droughts, and rising sea levels beg a nagging question: have we lost our capacity to act on the future? Dr. Liliana Doganova’s book Discounting the Future: The Ascendancy of a Political Technology (Princeton University Press, 2024) sheds new light on this anxious query. It argues that our relationship to the future has been trapped in the gears of a device called discounting. While its incidence remains little known, discounting has long been entrenched in market and policy practices, shaping the ways firms and governments look to the future and make decisions accordingly. Thus, a sociological account of discounting formulas has become urgent.Discounting means valuing things through the flows of costs and benefits that they are likely to generate in the future, with these future flows being literally dis-counted as they are translated in the present. How have we come to think of the future, and of valuation, in such terms? Building on original empirical research in the historical sociology of discounting, Dr. Doganova takes us to some of the sites and moments in which discounting took shape and gained momentum: valuation of European forests in the eighteenth and nineteenth centuries; economic theories devised in the early 1900s; debates over business strategies in the postwar era; investor-state disputes over the nationalisation of natural resources; and drug development in the biopharmaceutical industry today. Weaving these threads together, the book pleads for an understanding of discounting as a political technology, and of the future as a contested domain.This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

Amy Schiller's The Price of Humanity: How Philanthropy Went Wrong—And How to Fix It (Melville House, 2023) makes an attempt to rescue philanthropy from its progressive decline into vanity projects that drive wealth inequality, so that it may support human flourishing as originally intended. The word “philanthropy” today makes people think big money—Bill and Melinda Gates, Warren Buffet, and Andrew Carnegie come to mind. The scope of suffering in the world seems to demand an industry of giving, and yet for all the billions that are dispensed, the wealthy never seem to lose any of their money and nothing seems to change. Journalist, academic and consultant Schiller shows how we get out of this stalemate by evaluating the history of philanthropy from the ideas of St. Augustine to the work of Lebron James. She argues philanthropy’s contemporary tendency to maintain obscene inequality and reduce every cause to dehumanizing technocratic terms is unacceptable, while maintaining an optimism about the soul and potential of philanthropy in principle. For philanthropy to get back to its literal roots—the love of humanity—Schiller argues that philanthropy can no longer be premised around basic survival. Public institutions must assume that burden so that philanthropy can shift its focus to initiatives that allow us to flourish into happier, more fulfilled human beings. Philanthropy has to get out of the business of saving lives if we are to save humanity.Amy Schiller is a postdoctoral fellow at Dartmouth College in the Society of Fellows. Twitter. Website.Brian Hamilton is chair of the Department of History and Social Science at Deerfield Academy. Twitter. Website. Anna Dyjach is a senior at Deerfield.   Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance