An effective, humane look at financial practices hobbling venerable institutions.
Communities suffer when profiteers prevail.
Greenwell’s debut does important work, scrutinizing a poorly understood sector of the economy that makes life more precarious for many Americans. Private equity firms own hundreds of hospitals and newspapers, supermarket chains, countless smaller companies, and “the rights to Taylor Swift’s first six albums.” Yet the industry—as exemplified by Bain Capital, co-founded by Mitt Romney—has remained willfully “opaque,” spending tens of millions of dollars to elect lawmakers who protect its bountiful tax breaks and enable its ruthless profit-making maneuvers. Greenwell began her research after private equity bought and enfeebled her then-employer, sports website Deadspin. Spotlighting four people whose lives were adversely affected by private equity—a doctor, a retail worker, a journalist, and an affordable housing advocate—she carefully demonstrates the human cost of an industry playbook that prizes cutting workers, slashing services, and raising prices. The financial risk is small for private equity firms, which rely on money from investors—frequently, municipal pension funds and university endowments—and loans that they’re “not legally responsible for” because they’ve been taken out in the name of the company being purchased. As a result, vital hospitals and popular stores close or are driven into bankruptcy, and many people lose jobs. The retail worker Greenwell profiles was such a committed employee that she got a tattoo of the company’s mascot, but when private equity cut her job along with many others, she had to fight for even a sliver of the pay she was owed. While showing how private equity has recently shifted its emphasis from retail to “recession-proof” industries like health care, Greenwell also finds reason for hope in her subjects’ nascent activism. One of her subjects helped address a private equity–created health care shortage by helping found a new hospital.
An effective, humane look at financial practices hobbling venerable institutions.Pub Date: June 10, 2025
ISBN: 9780063299351
Page Count: 320
Publisher: Dey Street/HarperCollins
Review Posted Online: April 15, 2025
Kirkus Reviews Issue: yesterday
Cogent, well-timed ideas for meeting today’s biggest challenges.
Helping liberals get out of their own way.
Klein, a New York Times columnist, and Thompson, an Atlantic staffer, lean to the left, but they aren’t interrogating the usual suspects. Aware that many conservatives have no interest in their opinions, the authors target their own side’s “pathologies.” Why do red states greenlight the kind of renewable energy projects that often languish in blue states? Why does liberal California have the nation’s most severe homelessness and housing affordability crises? One big reason: Liberal leadership has ensnared itself in a web of well-intentioned yet often onerous “goals, standards, and rules.” This “procedural kludge,” partially shaped by lawyers who pioneered a “democracy by lawsuit” strategy in the 1960s, threatens to stymie key breakthroughs. Consider the anti-pollution laws passed after World War II. In the decades since, homeowners’ groups in liberal locales have cited such statutes in lawsuits meant to stop new affordable housing. Today, these laws “block the clean energy projects” required to tackle climate change. Nuclear energy is “inarguably safer” than the fossil fuel variety, but because Washington doesn’t always “properly weigh risk,” it almost never builds new reactors. Meanwhile, technologies that may cure disease or slash the carbon footprint of cement production benefit from government support, but too often the grant process “rewards caution and punishes outsider thinking.” The authors call this style of governing “everything-bagel liberalism,” so named because of its many government mandates. Instead, they envision “a politics of abundance” that would remake travel, work, and health. This won’t happen without “changing the processes that make building and inventing so hard.” It’s time, then, to scrutinize everything from municipal zoning regulations to the paperwork requirements for scientists getting federal funding. The authors’ debut as a duo is very smart and eminently useful.
Cogent, well-timed ideas for meeting today’s biggest challenges.Pub Date: March 18, 2025
ISBN: 9781668023488
Page Count: 320
Publisher: Avid Reader Press
Review Posted Online: Jan. 16, 2025
Kirkus Reviews Issue: Feb. 15, 2025
BOOK REVIEW
PERSPECTIVES
For Howard Zinn, long-time civil rights and anti-war activist, history and ideology have a lot in common. Since he thinks that everything is in someone's interest, the historian—Zinn posits—has to figure out whose interests he or she is defining/defending/reconstructing (hence one of his previous books, The Politics of History). Zinn has no doubts about where he stands in this "people's history": "it is a history disrespectful of governments and respectful of people's movements of resistance." So what we get here, instead of the usual survey of wars, presidents, and institutions, is a survey of the usual rebellions, strikes, and protest movements. Zinn starts out by depicting the arrival of Columbus in North America from the standpoint of the Indians (which amounts to their standpoint as constructed from the observations of the Europeans); and, after easily establishing the cultural disharmony that ensued, he goes on to the importation of slaves into the colonies. Add the laborers and indentured servants that followed, plus women and later immigrants, and you have Zinn's amorphous constituency. To hear Zinn tell it, all anyone did in America at any time was to oppress or be oppressed; and so he obscures as much as his hated mainstream historical foes do—only in Zinn's case there is that absurd presumption that virtually everything that came to pass was the work of ruling-class planning: this amounts to one great indictment for conspiracy. Despite surface similarities, this is not a social history, since we get no sense of the fabric of life. Instead of negating the one-sided histories he detests, Zinn has merely reversed the image; the distortion remains.
Pub Date: Jan. 1, 1979
ISBN: 0061965588
Page Count: 772
Publisher: Harper & Row
Review Posted Online: May 26, 2012
Kirkus Reviews Issue: Jan. 1, 1979
BOOK REVIEW
BOOK REVIEW
BOOK REVIEW
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