Transaction Man

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Ford Foundation Center for Social Justice

320 East 43rd Street

New York, NY 10017

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6:00 PM Registration
6:30 PM Program
7:30 PM Reception

Please join Nicholas Lemann, author; Biju Matthew, Co-founder, New York Taxi Workers Alliance, author of Taxi! Cabs and Capitalism in New York City; Kim Phillips-Fein, NYU; Yochai Benkler, Berkman Professor of Entrepreneurial Legal Studies and the Ford Foundation in discussing Transaction Man: The Rise of the Deal And The Decline Of the American Dream.

Over the last generation, the United States has undergone seismic changes. Stable institutions have given way to frictionless transactions, which are celebrated no matter what collateral damage they generate. The concentration of great wealth has coincided with the fraying of social ties and the rise of inequality. How did all this come about?

In Transaction Man, Nicholas Lemann explains the United States'—and the world's—great transformation by examining three remarkable individuals who epitomized and helped create their eras. Adolf Berle, Franklin Delano Roosevelt's chief theorist of the economy, imagined a society dominated by large corporations, which a newly powerful federal government had forced to become benign and stable institutions, contributing to the public good by offering stable employment and generous pensions. By the 1970s, the corporations' large stockholders grew restive under this regime, and their chief theoretician, Harvard Business School's Michael Jensen, insisted that firms should maximize shareholder value, whatever the consequences. Today, Silicon Valley titans such as the LinkedIn cofounder and venture capitalist Reid Hoffman hope "networks" can reknit our social fabric.

Lemann interweaves these fresh and vivid profiles with a history of the Morgan Stanley investment bank from the 1930s through the financial crisis of 2008, while also tracking the rise and fall of a working-class Chicago neighborhood and the family-run car dealerships at its heart. Incisive and sweeping, Transaction Man is the definitive account of the reengineering of America and the enormous impact it has had on us all.

Nicholas Lemann is a Joseph Pulitzer II and Edith Pulitzer Moore Professor and dean emeritus at Columbia Journalism School and a staff writer for The New Yorker. His previous books include The Big Test: The Secret History of the American Meritocracy and The Promised Land: The Great Migration and How It Changed America.

This event is produced in partnership with Community Change, the Center on Democracy and Organizing, Demos, the Open Society Foundations, and the Ford Foundation and is a continuation of the Realizing Democracy learning series.




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Date and Time

Location

Ford Foundation Center for Social Justice

320 East 43rd Street

New York, NY 10017

View Map

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