The Rise of Shareholder Primacy, With Sean Delehanty
Danny and Derek speak with historian Sean Delehanty about the invention of shareholder value and the transformation of the American corporation in the late 20th century.

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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.
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Traders work on the floor of the American Stock Exchange (AMEX) in New York.
(Michael Nagle / Bloomberg via Getty Images)Danny and Derek speak with historian Sean Delehanty about the invention of shareholder value and the transformation of the American corporation in the late 20th 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.
Subscribe to The Nation to support all of our podcasts: thenation.com/podcastsubscribe.

Here's where to find podcasts from The Nation. Political talk without the boring parts, featuring the writers, activists and artists who shape the news, from a progressive perspective.
Derek has returned, but he keeps trying to get Danny to go to some seminar led by a charismatic “mentor” he encountered in his travels. In this week’s news: war breaks out in Ethiopia’s Tigray region (0:43); Flavio Bolsonaro wins the first round of Brazil’s presidential election as the right makes major gains (6:46); in Yemen, the government’s counteroffensive against Ansar Allah stalls (9:51), the group attacks airports in Saudi Arabia and Yemen (12:40), and Saudi Arabia seeks outside military support (13:42); the U.S. prepares to resume its war against Iran as the Islamic Republic intensifies attacks on oil tankers near the Strait of Hormuz (17:44); in Japan, a U.S. Marine’s arrest for alleged murder sparks protests against the American military presence on Okinawa (22:18); Sudan’s military advances in North Kordofan (25:20) and Sudanese military chief Abdel Fattah al-Burhan rejects peace talks (28:06); in Mali, Tuareg rebels withdraw from Kidal as government forces retake the town (29:54); the U.S. and the WHO seek information about suspected plague cases at a Russian lab (29:54); Russian attacks across Ukraine kill at least 25 (32:57); Spanish Prime Minister Pedro Sánchez calls a snap election (35:00); the U.S. bombs another alleged drug boat in the Caribbean (37:12); and Trump creates a new AI task force called the Super Intelligence Force (38:12).
Note: Since recording, Trump has said that the U.S. will not attack Iran before the November midterm elections.
Watch a replay of last night’s livestream with journalist Michael Fox about Brazil’s elections.
Subscribe and check out our History of Modern Palestine series with Rashid Khalidi.
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