Today I'm speaking with Mordecai Kurz, Joan Kenney Professor of Economics Emeritus at Stanford University. We are discussing his latest book, Private Power and Democracy's Decline: How to Make Capitalism Support Democracy (MIT Press, 2026). After its high-water mark several decades ago, democracy's status continues to slide globally. Capitalism and democracy, which once seemed to complement each other, now appear at odds. Free-market policies and monopolistic technologies have enriched many while driving inequalities that harm workers. Many have opined on how to fix the political and economic problems of our day, from an embrace of radical libertarian policy to socialist ownership of the means of production. Mordecai Kurz's extensive study of capitalism and democracy charts a path for balancing economic and political freedom. Since the days of Adam Smith, technology has changed rapidly, necessitating new formulations that take into account the private power centers that exercise control much like monarchies did in the Age of Enlightenment. Despite the imbalance, capitalism still remains a driver of technological progress and innovation. How can we make both capitalism and democracy work for the good of everyone? I'm happy today to get the chance to speak with such an illustrious scholar and to learn a bit more about how to understand this defining puzzle of our age.

Caleb Zakarin is CEO and Publisher of the New Books Network.

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Tissa Richards is a leadership expert, keynote speaker, and the award-winning author of No Permission Needed and Rethinking Resilience: Fueling Your Competitive Advantage. Her mission is to help bold, high-capacity leaders become unshakable. A repeat tech founder and CEO who has raised millions in funding, Tissa advises a wide array of companies on innovation and performance.

In an era when trust is eroding, holding back and failing to communicate is a greater failing than ever. Rather than act like a turtle withdrawing into your shell, be bold: that’s the message here. The better route is to be in learning more, applying lessons learned from “failures” so that you can seize on the opportunities ahead. Most of all, remember that resiliency is a team sport; the lone hero won’t cut it in a world where exponential growth happens through the chemistry of a community that provides synergy. Case in point: Tissa mentions her interview with a former Executive at Campbell’s, whose Prickly Pear Council proved to be so successful in airing and resolving conflicts that eventually it no longer needed to exist.

Real Transformations: Business Change That Works from the Inside Out is co-hosted by Julie Anixter and Dan Hill, PhD, entrepreneurs with deep experience as corporate change agents, devoted to helping companies make continuous change work for everyone through clarity and connection. To learn about their keynote talks, workshops and labs, check out Real-Transformation.com.

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This interview was conducted by Dr. Miranda Melcher whose book

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Phil Le-Brun and Jana Werner are enterprise strategists at Amazon Web Services, based in London. Phil was previously a corporate VP and international CIO at McDonalds. Jana was formerly at DHL and studied uncertainty dynamics in academia. They are authors of The Octopus Organization: A Guide to Thriving in a World of Continuous Transformation published by Harvard Business Review Press.

Octopus’s are nimble and amazing, as anybody who has watched the 2020 Oscar-winning documentary My Octopus Teacher will verify. In contrast, the Tin Man model we know from The Wizard of Oz needs constant oil and is too rusty and rigid to function well on its own for long. This episode’s guests lean into the Octopus model, which is about earning trust and evading, in this case, the enemy within ourselves when it comes to not admitting mistakes and quickly learning from them. The value of a strong feedback loop, creating an technology infrastructure that is “thin” and allows for freedom, and not chasing metrics that prevent you from learning from anecdotal evidence of where change is necessary: those are among the topics that lively conversation pursues. A final key point the authors make is that at a time when investment in executive learning has tripled while other personnel developments remain flat is a mistake; now more than ever, human capabilities need to be built upon in an era of rapid innovation.

Real Transformations: Business Change That Works from the Inside Out is co-hosted by Julie Anixter and Dan Hill, PhD, entrepreneurs with deep experience as corporate change agents, devoted to helping companies make continuous change work for everyone through clarity and connection. To learn about their keynote talks, workshops and labs, check out Real-Transformation.com.

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Privatising Humanity: How Our Essential Human Needs Became Financial Assets (Manchester UP, 2026) is the latest book from Dr Kate Bayliss, a Senior Research Fellow in the Department of Economics at SOAS, University of London. Dr Bayliss’ excellent title, published with Manchester University Press, is a critical examination of the privatisation paradigm.

In the book, Dr Bayliss specifically analyses the history, processes, political economy and outcomes of privatisation policies in Britain across three major economic sectors – that of water, energy, and housing. Infamously, Britain was arguably in the vanguard of a proliferation of privatisation policies in the 1980s, courtesy of then Prime Minister Margaret Thatcher, a key proponent of the neoliberal revolution at this time. Privatisation was touted as a solution for increased efficiency, the creation of a shareholder society, and relieving taxpayer burdens. Dr Bayliss’ book, Privatising Humanity, is a crucial tool to understand how privatisation policies were applied, who benefited, and whether the outcomes lives up to these expectations. It is both an exceptionally detailed account of the web of interests that have profited from privatisation, on the one hand, and on the other, a highly accessible volume that is critical reading in this current moment.

Elliot Dolan-Evans is a sessional lecturer and tutor in law at Monash University and RMIT. His research investigates the political economy of global capitalism, forms of international governance, and questions of war and peace. His first book, Making War Safe for Capitalism: The World Bank, IMF and the Conflict in Ukraine, is now out with Bristol University Press.

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In this interview I met with Dr. Juxuan Zhang (Osaka University) to discuss her research on the history of the Chinese apparel industry since 1979. Her paper with Prof Pierre-Yves Donzé (Osaka University) investigates the structural transformation of the Chinese apparel industry from 1980 to 2020. Following an approach of industry studies and classic business history, it focuses on the 10 largest apparel companies in the four decades since the 1980s. Drawn from a broad range of published sources and official data, it analyses the ownership transition and entrepreneurial strategies of these companies under the changing institutional context. The findings show how different types of firms were able to use regulations and policies to dominate the industry. The study contributes to literature by exhibiting the dynamics of the industry development from the perspective of companies and entrepreneurs.

Read the full research for free here

Presented by Paula de la Cruz-Fernández, Ph.D.

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Caroline Stokes is a strategist who works with C-Suites and Boards to lead their organizations through AI disruption, climate risk, and geopolitical instability. Her new book Aftershock to 2030: A CEO's Guide to Reinvention in the Age of AI, Climate, and Societal Collapse is published by Broad Book Press and serves as a roadmap for leaders navigating the tidal wave of change going on today. The founder of Workplace EQ, Caroline Stokes is previously the author of the business book Elephants Before Unicorns, about which she was interviewed by Dan Hill for his previous NBN podcast, “Dan Hill’s EQ Spotlight” in 2020.

Empathy, mental sovereignty, super hero: those three aspirations define this conversation well. Let’s unpack each term, in turn, to provide a sense of Caroline Stokes’ perspective on the world of work nowadays. One of Stokes’ points here is that emotional labor is of real value but the burden of getting it done rarely falls equally on people’s shoulders in business, with women often taking the greater load. Who should be stepping up more? CEOs, for whom empathy is rarely a Top 10 or even Top 30 strength of theirs. Sometimes hyper-masculinity gets in the way; other times, it might be that they feel blocked by the misperception that empathy entails just “dumping” one’s feelings on others at work, when in reality admitting vulnerability in relation to specific, mission-critical aspects of one’s job should really be the primary focus. In turn, what is “mental sovereignty” in Stokes’ work view? The term is meant to denote showing respect to everyone, regardless of rank, as part of creating a culture that highly values psychological safety. Finally, “super hero” enters the picture because, as a long-time executive coach, Stokes knows that within most if not all leaders lies a desire to be a difference-maker in ways that go beyond hitting the quarterly numbers alone. Within every leader, she believes, lurks a seven-year-old child eager to be a force for moral good as well as financial success for the enterprise overall.

Real Transformations: Business Change That Works from the Inside Out is co-hosted by Julie Anixter and Dan Hill, PhD, entrepreneurs with deep experience as corporate change agents, devoted to helping companies make continuous change work for everyone through clarity and connection. To learn about their keynote talks, workshops and labs, check out Real-Transformation.com.

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Today I’m speaking with Mike Lane, Managing Director and co-founder of WeBuyBooks about the economics of the second-hand book business. WeBuyBooks is one of the UK’s largest second-hand book dealers. Mike talks about how he got his start in the book industry, which books sell and which don't, and what the future holds for the book industry more broadly. Mike also discusses other second-hand business lines in CDs, DVDs, and Legos.

Visit WeBuyBooks.co.uk and use code NBN15 for 15% extra on your first offer.

Caleb Zakarin is CEO and Publisher of the New Books Network.

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In Singapore, the financial center of Southeast Asia, hyperurbanization and commercial development exist alongside enduring belief in the economic power of ghosts: in their ability to control the flows of money and value and to determine the outcome of investments and wagers. Spectropolis: The Enchantment of Capital in Singapore (U Minnesota Press, 2025) explores the unlikely collusion of these two systems, demonstrating both the productive role of popular beliefs in the modern world and the surprising correlations between “late” capitalism and the workings of the spirit realm. Detailing the logic and practices of Singapore’s ghost economy—from performing exorcisms on real estate development sites to offering money and commodities to the dead as a hedge against precarious real-world transactions—Joshua Comaroff shows how speculative finance, largely governed by chance and volatility, is understood via its inherently spectral qualities. Based on detailed case studies and years of extensive fieldwork, Spectropolis argues for the power of popular belief systems to theorize contemporary socioeconomic conditions and to give form to collective affect as well as shared aspirations and anxieties, often in deeply hopeful, horizontal and empowering ways.

Joshua Comaroff is the assistant professor of architecture at the National University of Singapore. He is coauthor of Horror in Architecture: The Reanimated Edition (Minnesota, 2024).

Alyssa Kee recently finished graduate studies at the University of Vienna. Her research interests lie in urban geography, multispecies ecologies, and urban food assemblages. She is currently in the field of Geographical Education.

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If governments provide financial support for affordable housing, should they provide support for inhabitants directly, or rather for the construction of dwellings? Dr. Max Krahé and Sara Schulte both work for the German economic think tank Dezernat Zukunft, and they aim to answer this question by looking at the past. In this interview we discuss the research design, the conclusions, and also what policy implications they draw from their analysis.

Want to know more? You can find everything about this housing analysis on Dezernat Zukunft. Additionally, Max Krahé provides an overview of Dr. Krahé's research projects.

Geert Slabbekoorn works as a policy officer in the field of housing. In his free time he juggles, raises kids, and improves his languages.

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