E234 - The Rise of Shareholder Primacy w/ Sean Delehanty

Subscribe now for the full episode! Derek and Danny are joined by historian Alex Thurston to talk about the rise and decline of area studies in the United States. They discuss how regional expertise was once central to the management of American power; why policymakers increasingly ignored that knowledge when it existed; how programs like Fulbright, Title VI, and the Wilson Center fit into a postwar arrangement between the state and the academy; DOGE; the retreat of private foundations; the turn toward technocracy and quantitative approaches; and what the collapse of area studies says about the end of Progressive Era faith in expertise. Read Alex’s piece for Foreign Exchanges, “The Decline and Fall of Area Studies.” Statement from SSRC on ending its International Dissertation Research Fellowship program. Learn more about your ad choices. Visit megaphone.fm/adchoices

Subscribe now to skip the ads. While Danny looks after his gold assets, Always at War’s Alex Jordan once again helps Derek bring you headlines from around the globe. This week: the Bulletin of the Atomic Scientists moves the Doomsday Clock to 85 seconds to midnight (0:54); the Trump administration renews threats against Iran while demanding a new deal that would eliminate uranium enrichment, missile programs, and regional proxies (3:47); Syria’s government and the SDF agree to a ceasefire extension following more violence in the northeast (12:58); in Gaza, Israel recovers the remains of the final Israeli captive tied to Phase One of the ceasefire, partially reopens the Rafah crossing, and advances plans for large camps in Rafah (16:28); Myanmar’s military completes a staged election delivering the expected victory for the junta-backed party (27:24); China faces fresh turbulence in its military leadership as a senior PLA figure is investigated (30:07); Sudan sees reported new fighting in Blue Nile and claimed gains in Kordofan (34:28); the government of South Sudan launches a campaign against rebels (38:04); there are reports of clashes between government and Tigrayan forces in Ethiopia (40:53); talks involving the U.S., Russia, and Ukraine fail to produce progress (44:02); the EU and India announce a major free trade agreement (47:00); Trump threatens sweeping tariffs against Canada over trade and China policy, amid diplomatic friction and reports of contacts with Alberta separatists (49:32); the U.S. moves toward reopening its embassy in Venezuela as reporting points to CIA interest in establishing a permanent presence (54:07); and a new U.S. National Defense Strategy emphasizes dominance in the Western Hemisphere while maintaining preparations for potential conflict with China (58:20). Learn more about your ad choices. Visit megaphone.fm/adchoices

Subscribe now to skip the ads and get all of our episodes! Danny and Derek speak with historian Sean Delehanty about the invention of shareholder value and the transformation of the American corporation in the late twentieth century. They discuss postwar conglomerates and corporate social responsibility, the crisis of Fordism, the rise of financial economics, and the theory of the firm. They also look at hostile takeovers, leveraged buyouts, private equity, the collapse of the public corporation, and the bipartisan consolidation of shareholder primacy in the 1990s. Buy Sean’s book Company Men: The Invention of Shareholder Value and the Splintering of the American Economy. Learn more about your ad choices. Visit megaphone.fm/adchoices

Subscribe now for the full episode! Derek is joined by Washington Post columnist Ishaan Tharoor for a roundup of the 2026 World Economic Forum in Davos. They discuss Trump’s return to the forum, the Greenland annexation threat and its fallout inside NATO, Mark Carney’s speech declaring the end of the rules-based order, the unveiling of Trump’s “Board of Peace,” Jared Kushner’s Gaza reconstruction presentation, and what Davos revealed about elite attitudes toward the war in Gaza, European rearmament, and more Learn more about your ad choices. Visit megaphone.fm/adchoices

The legendary recurring crossover between AP and⁠⁠ ⁠NonZero Newsletter⁠⁠⁠ is back.⁠ ⁠Get your discounted membership⁠⁠ to NonZero now! Subscribe to AP for the full episode! ⁠Part One Video⁠ (0:00) A recap of January’s Trump turbulence (4:52) Is Trump a cause or symptom of world disorder? (13:09) Is Trump increasingly unstable? (15:41) Will we invade Cuba? (19:43) American politics after Trump (25:54) The crumbling bedrock of International Law (35:30) Where are the Democrats? (38:19) Heading into Overtime: Renee Good, Syria, Worthwhile Canadian Prime Minister Learn more about your ad choices. Visit megaphone.fm/adchoices

Subscribe now to skip the ads and get all of our content. While much of America endures an Arctic freeze, Danny and Derek bring to you scorching hot headlines. This week: renewed fighting breaks out between the Syrian government and the SDF as Damascus pushes across the Euphrates and ceasefires collapse (1:39); Israel plans to raze Rafah and construct controlled “humanitarian cities” as a template for postwar Gaza (10:32); Trump hints at striking Iran amid U.S. force movements (14:26); a Cambodian NGO accuses the Thai military of demolishing homes in disputed border villages with Cambodia (17:31); Japan’s prime minister is dissolving parliament and calling a snap election to capitalize on high approval ratings (19:45); heavy fighting breaks out in Sudan’s North Kordofan as the RSF seeks to block a government offensive toward Darfur (22:17); Somalia reaches a new defense cooperation agreement with Qatar (24:18); the EU is reportedly offering Ukraine a rapid partial membership as part of postwar security guarantees (26:27); attendees at Davos discuss a Ukraine reconstruction plan (28:44); Portugal’s far-right Chega candidate reaches the presidential runoff (31:10); the Trump administration is exploring a Maduro-style operation in Cuba (32:47); Trump threatens and then backs off tariffs over Greenland after talks with NATO (35:22); Mark Carney’s Davos speech on the collapse of the rules-based order gains attention (41:01); there is renewed speculation about Havana syndrome following reports the U.S. acquired a suspected energy weapon (43:00); and Trump formally launches his “Board of Peace,” with an unclear mandate and membership (45:00). Learn more about your ad choices. Visit megaphone.fm/adchoices

Subscribe now to skip the ads and get all of our content. Danny and Derek welcome to the show Alice Lovejoy, professor of film and media studies at the University of Minnesota, to talk about the intersections of cinema, corporate power, and the military. They discuss how film production became entangled with military and chemical sectors; how corporate interests and state power shaped the technologies of cinema; the ways photographic film recorded and was shaped by Cold War geopolitics; and cinema as both a cultural expression and an product of industrial and geopolitical forces. Read Alice’s book Tales of Militant Chemistry: The Film Factory in a Century of War. Learn more about your ad choices. Visit megaphone.fm/adchoices

Subscribe now for the full episode. Danny and Derek speak with political scientist Thea Riofrancos about extraction, climate politics, and the limits of the green energy transition. They discuss why the advent of renewable energy does not mean a decline in fossil fuel use; how capitalism can generate new green industries while being unable to destroy fossil fuel infrastructure; mining, financialization, and intentional value destruction; political risks posed by dismantling fossil capital; and consumption, organizing under conditions of deindustrialization, and the challenges of building climate politics in the current political climate. Learn more about your ad choices. Visit megaphone.fm/adchoices

Subscribe now to skip the ads. Derek welcomes Matt Lech to the show to bring you the news while an infirmed Danny convalesces. This week: Trump pushes U.S. oil companies to reenter Venezuela and outlines plans for a long-term U.S. takeover of the Venezuelan oil industry (1:34); opposition leader Maria Corina Machado presents Donald Trump with her Nobel Peace Prize medal (7:01); Southern Transitional Council leader Aidarus al-Zubaidi flees Yemen as the group fractures amid competing leadership claims (8:50); Somalia cuts ties with the United Arab Emirates following the latter’s support for Somaliland and the evacuation of Yemeni separatist leaders through Somali territory (12:05); the second phase of the Gaza ceasefire begins as Israel continues to restrict humanitarian aid (14:27); UK Palestine Action prisoners conduct hunger strikes as part of a broader campaign against repression and arms manufacturing, with Matt relaying a statement from the group (18:11); Sudan’s military government announces its return to Khartoum while preparing a major operation against the Rapid Support Forces in Darfur and Kordofan (21:22); China records a $1.2 trillion trade surplus despite U.S. tariffs (24:09); Japan’s prime minister moves toward snap elections amid high approval ratings and ongoing political instability (26:30); the UN reports 2025 as the deadliest year for Ukrainian civilians since 2022 (28:40); American, Danish, and Greenlandic officials meet in Washington as Trump continues to press claims over Greenland (31:06); the Trump administration halts immigrant visa processing for 75 countries (33:15); and the New York Times reports on possible U.S. war crimes involving the use of disguised military aircraft in “anti-smuggling” operations (34:23). Derek then speaks with Negar Mortazavi, journalist and host of The Iran Podcast, about the causes, trajectory, and implications of Iran’s recent nationwide protests (37:11). Find more of Matt’s work over at Left Reckoning, The Majority Report, and The Jacobin Show.   Here is the complete statement from UK Palestine Action. Learn more about your ad choices. Visit megaphone.fm/adchoices

Subscribe now to skip the ads and get all of our episodes. Danny and Derek are joined by Shadi Hamid, columnist at The Washington Post and author of The Case for American Power, to talk about American hegemony and Hamid’s argument for it as a morally preferable and potentially reformable force in international politics. They discuss Gaza and the crisis of liberal internationalism, democracy and self-correction, American decline, China and Russia, intervention and restraint, the Middle East exception, Libya and “humanitarian war,” and whether it is possible to separate the “good” uses of American power from the bad. Learn more about your ad choices. Visit megaphone.fm/adchoices