Kimberly Kay Hoang, "Spiderweb Capitalism: How Global Elites Exploit Frontier Markets" (Princeton UP, 2022)

10/17/22 • 42 min

In 2015, the anonymous leak of the Panama Papers brought to light millions of financial and legal documents exposing how the superrich hide their money using complex webs of offshore vehicles. Spiderweb Capitalism: How Global Elites Exploit Frontier Markets (Princeton UP, 2022) takes you inside this shadow economy, uncovering the mechanics behind the invisible, mundane networks of lawyers, accountants, company secretaries, and fixers who facilitate the illicit movement of wealth across borders and around the globe.

Kimberly Kay Hoang traveled more than 350,000 miles and conducted hundreds of in-depth interviews with private wealth managers, fund managers, entrepreneurs, C-suite executives, bankers, auditors, and other financial professionals. She traces the flow of capital from offshore funds in places like the Cayman Islands, Samoa, and Panama to special-purpose vehicles and holding companies in Singapore and Hong Kong, and how it finds its way into risky markets onshore in Vietnam and Myanmar. Hoang reveals the strategies behind spiderweb capitalism and examines the moral dilemmas of making money in legal, financial, and political gray zones.

Dazzlingly written, Spiderweb Capitalism sheds critical light on how global elites capitalize on risky frontier markets, and deepens our understanding of the paradoxical ways in which global economic growth is sustained through states where the line separating the legal from the corrupt is not always clear.

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M. D. Usher, ed. "How to Say No: An Ancient Guide to the Art of Cynicism" (Princeton UP, 2022)

The Cynics were ancient Greek philosophers who stood athwart the flood of society's material excess, unexamined conventions, and even norms of politeness and thundered "No!" Diogenes, the most famous Cynic, wasn't shy about literally extending his middle finger to the world, expressing mock surprise that "most people go crazy over a finger." When asked why he was called Diogenes the Dog, he replied "because I fawn on those who give, I bark at those who don't, and I bite scoundrels." How to Say No: An Ancient Guide to the Art of Cynicism (Princeton UP, 2022) is a delightful collection of brief ancient writings about Cynicism that captures all the outrageousness, wit, and wisdom of its remarkable cast of characters--from Diogenes in the fourth century BCE to the column-stander Symeon Stylites in late antiquity.

With their "less is more" approach to life, the Cynics speak urgently to our world of climate change, economic uncertainty, and psychic malaise. Although the Cynics weren't writers, their memorable utterances and behavior were recorded by their admirers and detractors, and M. D. Usher offers fresh new translations of appealing selections from this body of writing--ranging from street sermons and repartee to biography and snapshots of Cynics in action.

Complete with introductions to the volume and each selection as well as the original Greek and Latin on facing pages, this lively book demonstrates why the Cynics still retain their power to surprise us and make us laugh--and to make us think and question how we live.

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Money or Meaning? A Discussion on Choice and Restlessness with Ben and Jenna Storey

What kinds of tools do we need to make big decisions, and why aren't our universities training us to make them? Are universities doing students a disservice by occupying them with myriads of boxes to tick? Are students right to prefer money to meaning?

Madison Program alumni Ben and Jenna Storey discuss the philosophy of making choices and of restlessness, and critique the way universities treat those topics.

Ben and Jenna are senior fellows at the American Enterprise Institute in the Social, Cultural, and Constitutional Studies department, where they focus on political philosophy, classical schools, and higher education. Previously, they directed the Toqueville Program at Furman University in South Carolina. They are the authors of Why We Are Restless.