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Adams, Timothy, 315–16
Adeyemo, Adewale, 336
Advanced Video Communications, 43
Affordable Care Act (Obamacare), 345–46
Afghan refugees, 15, 90, 135, 148, 151–52
African Americans, 69, 153, 163, 207, 230, 243, 309–10
Agnelli, Donna Marella, 77–78, 79
Agnelli, Gianni, 77–79, 82, 83
Agnelli, Margherita, 78–79
Agnelli, Umberto, 82
Aladdin (BlackRock), 138–39, 214
Alibaba, 63–64, 243
allocation universelle, 352
Alton, Gregg H., 289
Amazon, 48–50, 66–72, 400, 402. See also Bezos, Jeff
congressional hearings, 368–73
COVID-19 pandemic and, 218, 228, 247–57, 336, 356–57, 372
globalization and outsourcing, 49–50, 56–57
monopoly power and antitrust, 71–72, 334, 368–74, 381
Morrison at, 73–74
Smalls at, 247–55, 257, 395
Amazon Prime, 252
Amazon rain forest fires, 234
Ambani, Mukesh, 29
America First, 75, 168, 171, 179
American Enterprise Institute, 378
American Express, 102
American International Group (AIG), 105
American Recovery and Reinvestment Act of 2009, 106
American Rescue Plan Act of 2021, 14, 337
Anelli, Filippo, 264
Annala, Mikko, 363
Annovazzi, Coralie, 134–35
anti-immigrant (anti-immigration) sentiments
Britain and Brexit, 114–15
in France, 125, 134–36
in Italy, 84, 90–92
in Sweden, 10, 145, 148–53, 163
Trump and, 60–62, 74–75
anti-Semitism, 178
antitrust law, 7, 235, 335, 375–81, 405, 406
Amazon and monopoly power, 71–72, 368–74, 381
health care and, 186, 189
Antitrust Paradox, The (Bork), 379
Appelbaum, Eileen, 186
Apple, 368–69
Argentine debt, 316–26
Arnault, Bernard, 123–24, 130
artificial intelligence (AI), 29, 65, 125
Ashford Hospitality Trust, 207–9
AstraZeneca, 300–301
Attendo Care, 269–73
Audi, 41–42
Australia brushfires of 2020, 234
authoritarianism, 10, 44, 125, 178, 317
automation, 7, 29, 147–48, 360
Bailey, Roy, 208
balance billing. See surprise medical billing
Bangladeshi migrant workers, 311–13
Bank of England, 108, 279–80
Bank One Corporation, 103
Banks, Dean, 199–200
banlieues, 127
basic income. See universal basic income
Basic Income Earth Network, 352
Bautista, Sonia, 221, 238–39
Bayer, 263
Bear Stearns, 104, 107, 139, 140
Becerra, Xavier, 336
Begum, Monowara, 312, 313
Belgium, 128, 352
Benioff, Lynne, 35–36
Benioff, Marc, 29–37, 385
background of, 32–33
Capitol attack of 2021, 330
compassionate capitalism, 4, 30–32, 33–37
COVID-19 pandemic, 2–3, 4–5, 199, 200, 228–29, 231–32, 241–44, 296, 398
at Davos Forum, 2–3, 29–30, 296
ohana, 31–32, 36, 228, 243
stakeholder capitalism, 2, 30–31, 36, 37, 232, 241
taxes and tax policy, 34–35, 177
universal basic income and, 353, 360
Benioff, Russell, 32
Bennett, Monty, 207–9
Berlin Wall, 10
Berlusconi, Silvio, 78, 81, 82, 263
Bezos, Jeff, 48–50, 67–72, 148, 245–47. See also Amazon
background of, 48, 67–68
congressional hearings, 368–73
COVID-19 pandemic, 199, 250–51, 252, 255–56, 368, 401
founding of Amazon, 67–72
globalization and, 49–50, 56–57, 70
monopoly power and, 71–72, 368–74, 381
net worth, 246, 257
space flight and Blue Origin, 399–401
taxes and tax policy, 3, 56–57, 68, 70, 389, 390, 391, 405
Biden, Joe, 14–15, 44, 332–38, 373
COVID-19 pandemic and, 337–38, 355–56
COVID-19 vaccines, 14, 305, 307–8
election of 2020, 14, 237, 332–34
reasonable pricing rule, 294
tax policy, 367, 396
Billions (TV show), 9
BioNTech, 300, 305
Black Lives Matter, 309–10
BlackRock, 137–43
Argentine debt, 316, 318, 321–26
climate change, 233–35
COVID-19 pandemic, 213–18, 309–11, 399
financial crisis and, 139–40, 214
France and Macron, 120–21, 140–43
Blackstone, 159–67. See also Schwarzman, Stephen
Amazon and, 246
China and, 64–65
COVID-19 pandemic, 205–6, 210–11, 280–81
election of 2020, 329, 333–34
financial crisis and, 107, 163–65, 397
Fink and, 138
founding of, 159–62
health care holdings, 185–88, 191–94, 210–11, 212–13, 397, 403
pension funds, 223–27, 332
real estate holdings, 64–65, 144–46, 157, 163–67
Sweden and, 144–46, 164–67
Blanco, Manu, 127
block grants, 365
Bloomberg, Michael, 161, 391
BNP Paribas, 122
Boeing, 202, 204, 218
Bolten, Joshua, 175, 240–41
Bonnin, Virginie, 132–33, 134
Bono, 2, 23, 385
Bork, Robert, 378–80
Boston Tea Party, 374–75
Bouey, Jennifer Huang, 298
Bourla, Albert, 300–301, 304–5, 308
Bourne Leisure, 281
Bowers, Simon, 113, 265–66
Bown, Chad, 297
Brandeis, Louis, 327
Branson, Richard, 399
Bray, Tim, 257
Brazil, 234, 302
Bregman, Rutger, 382–83, 385
Bretton Woods system, 51, 52, 55
Brexit, 10, 21, 27, 94–101, 113–19, 281–82, 338–39
Dimon and, 96–97, 99–100, 108–9, 114, 119, 129, 398
Johnson and, 117–19
Osborne and, 15, 94–98, 100–101, 109–13, 141–42
Bridge, John, 343
Bridgewater Associates, 28
Britain, 402
austerity program, 93–94, 101, 109–13, 365–66
bank rescue packages, 109
Brexit. See Brexit
COVID-19 pandemic in, 230, 259, 265–66, 276–82, 299, 338–39
National Health Service, 101, 113, 115, 118, 243, 259, 265, 338–39
Preston model, 340–43
British Airways, 279
British Business Bank, 278
Broomé, Michael, 272
Brown, Matthew, 341–42
Browns Field, 111–12
Brynjolffson, Erik, 384
budget deficits, 79, 109, 176–77, 219–21, 335, 389
Bullingdon Club, 114
Bush, George W., 104, 175, 335
Business Roundtable, 174–75, 177, 249, 378–79
Business Roundtable Statement, 235–36, 237, 239–41, 245
California
COVID-19 pandemic in, 183, 188
pension system, 223–24
Cameron, Daniel, 225
Cameron, David, 93–96, 279
austerity program, 93–94, 109–10
Brexit, 94–95, 114–15, 117
capital gains, 22, 83, 390, 398
CARES Act of 2020, 200–202, 204–12, 219–21, 336, 355
Paycheck Protection Program, 206–9
Carlson, Tucker, 267
Carnegie, Andrew, 9, 46
Carney, Mark, 108
carried interest, 159–60, 162, 329, 338
Castro, Fidel, 370
Caterpillar Inc., 171–72
Celio, 124
Centers for Disease Control (CDC), 250, 287, 292, 298
Cerberus Capital, 209–10
Cercle des Economistes, 130
CGT (General Confederation of Labor), 127
Chamber of Commerce, U.S., 249
Charlottesville Unite the Right rally, 178, 331
Château de Chambord, 131
Château d’Yquem, 123
Chicago school of economics, 377–80
childcare, 147, 156, 345, 357, 364–65, 384, 391, 396
child tax credits, 337–38, 367
China, 55–57, 62–66
COVID-19 pandemic, 196–97, 296–98
inequality in, 60
trade and exports, 55–57, 59–60, 62–66, 70, 86–87, 196–97, 297–28
Trump’s trade war, 61–62, 170–73, 286, 297
WTO entry, 55, 56, 63, 86
Xi Jinping at Davos, 44–45
Chinese immigrants to Italy, 89–90
Chopra, Deepak, 23
Choucair, Bechara, 346
Chrysler, 82–83
Cicilline, David, 370
Citadel LLC, 336
Citigroup, 102, 141
Cleveland Clinic, 210–11, 343–44
climate change, 20, 23, 27, 125, 168, 170, 179, 232, 233–35, 236, 357
clinical trials, 285, 287, 293, 298–99
Clinton, Bill, 15, 39, 140, 380
budget deficits, 335
China and exports, 63–64
corporate tax loophole, 35
NAFTA, 53
reasonable pricing clause, 293–94
welfare reform, 364–65
CNH Industrial, 279–80
Cohan, William D., 137, 386
Cold War, 10, 11, 51, 98, 377
colonialism, 59, 306, 310, 375
community wealth building, 341–42
compassionate capitalism, 4, 30–32, 33–37
Conforti, Erika, 264–65
Cook, Tim, 368–69
cooperative companies, 343–50
Corbyn, Jeremy, 118
corona bonds, 275–77, 339
corporate bonds, 213–18
corporate taxes, 14, 35, 56–57, 109, 176–77, 224–25, 396
Cosmic Lie, 8, 12, 46, 120, 143, 176, 219, 269, 277, 335, 357, 384, 386
Council of Economic Advisers, 336
Covax, 302–3, 305, 307–8, 401
COVID-19 pandemic. See also specific companies
Biden’s response, 305, 307–8, 337–38, 355–56
in Britain, 230, 259, 265–66, 276–82, 299, 338–39
CARES Act of 2020, 200–202, 204–12, 219–21
European Union response, 274–78
Federal Reserve’s response, 213–18
in Finland, 267, 273
health care systems and, 183–85, 189–94, 207–13, 269–73, 290–92
inequality and, 3–4, 13, 230–32, 354–56
in Italy, 76, 81, 258–65, 282–83
McConnell’s response, 219–22
migrant workers and, 311–16
pharmaceutical industry and, 285–95
profiteering during, 1–4, 11, 183–85, 189–94, 205–18, 228–29, 398–99
remdesivir and, 285–86, 287–88, 292–93, 294–95
supply chains and, 27, 196–97, 251, 286, 295–98
in Sweden, 259, 266–74
Trump’s response, 196, 197–209, 230, 284–85, 293, 294–95, 297–300, 329
COVID-19 vaccines, 4, 14, 285–87, 298–308, 403–4
disparity in distribution, 286–87, 301–8
patent protection and, 292, 303–8
Cramer, Jim, 229, 232, 241, 398
cronyism, 266
CureVac, 299
Daccò, Pierangelo, 262–63
Dalai Lama, 31
Dalin, Torbjörn, 155–56
Dalio, Ray, 28–29
Damac Properties, 313
Davitt, Patrick, 216
Davos (village), 38
Davos Forum (World Economic Forum)
author’s attendance at, 23–30
core activities of, 41
hierarchy at, 25–26
membership and fees, 23
Schwab and, 37–45
1971, first, 38
2017, 44–45, 290–91
2018, 125
2019, 382–83, 385–86
2020, 6, 236–37
2021, 2–3, 19–20, 22–23, 242
Davos Man, use of term, 5–6
Davos Manifesto, 236, 240
Death by China (Navarro), 170–71
debt, 156, 176, 177–78, 195, 310, 314–16
Argentine debt, 316–26
Greek government-debt crisis, 99
Deese, Brian, 336
Defense Production Act, 199–200
De Gama, Mustaqeem, 303
De Gaulle, Charles, 121, 128–29
Dell, Michael, 19–20, 383–84
democracy, 402–3, 406
Democracy Collaborative, 343–44
Denmark, 66, 86, 128
COVID-19 pandemic, 267, 273, 275
deregulation, 12, 29, 75, 235, 338, 377–80
Britain and Brexit, 95, 97–98, 115–17
derivatives, 8, 95, 394
Dijsselbloem, Jeroen, 274
Dimon, Jamie, 101–8, 161
background of, 54, 101–2
Brexit and, 96–97, 99–100, 108–9, 114, 119, 129, 398
Capitol attack of 2021, 330
China and, 56
COVID-19 pandemic and, 206–7, 398
at Davos Forum, 19–20, 24
early business career of, 102–3
financial crisis and, 103, 104–8
Macron and France, 121–22
stakeholder capitalism and, 235
taxes and tax policy, 3, 386, 392
Trump and, 172–73, 174, 177, 203, 386
Dimon, Theodore, 101–1
Doctors Without Borders, 258, 282
Dominguez, Salvador, 211–12
Donaldson, Lufkin & Jenrette, 158
Dreamforce, 32, 231
Drennan, Dan, 62
Drucker, Jesse, 201
drug companies. See pharmaceutical industry
drug patents, 14, 292, 303–8
East India Company, 375
EasyJet, 279
Eccleston-Turner, Mark, 303
economic inequality, 6–7, 12–13, 23, 28–29, 45–46, 60, 128, 145, 157, 212, 230–31, 286, 309–10, 334–35, 351–52, 385, 386, 402, 405–6
Economic Security Program, 353
Ecuador, 321–22
education inequality, 36, 52
Einstein, Albert, 38
Eisen, Sara, 290–91
Eli Lilly and Company, 263
Elliott Management, 324
Ellison, Larry, 30–31, 33, 37
En Marche, 122
Enskilda Securities, 165
Envision Healthcare, 186–89
Erskine, Barbara, 40, 42–43
estate taxes, 391, 396
ETFs (exchange-traded funds), 216
Eton College, 117–18
eurobonds, 274–76
euro currency, 79
European Management Forum, 38
European migrants, 9, 115, 125, 134–36, 148–53, 163. See also anti-immigrant sentiments
European Union (EU), 79, 98–99, 156, 276. See also specific countries
Brexit and, 21, 94–101, 108–9, 113–19
COVID-19 pandemic in, 274–78, 355
executive compensation, 12, 22, 106, 204, 390–91
ExxonMobil, 218, 232, 234
Facebook, 34, 192–94, 353, 368–69, 380
Fairmont Grand Del Mar, 207
fair trade law, 379
Families First Act, 249–50
family leave, 147
Fannie Mae, 139, 140
Farha, Leilani, 144–45, 146
Fatio, Maurice, 160
Fauci, Anthony S., 304
Faux, Jeff, 63
Federal Express, 252
Federal Reserve, 213–18
Federal Trade Commission (FTC), 373, 375–81
Feinberg, Stephen A., 209
Fellsman, Hannes, 150
Felsenthal, Edward, 385–86
Fernández, Alberto, 320–21, 324
Fernández de Kirchner, Cristina, 318
Fiat Automobiles, 76–83
“fiduciary duty,” 323
Fight for $15 campaign, 354
Filipstad, Sweden, 149–51
financial crisis of 2007–2008. See global financial crisis
financialization of housing, 144–46, 157, 163–67
Fink, Larry, 137–43
Argentine debt, 316, 318, 321–26
background of, 137–38
Capitol attack of 2021, 330
climate change, 233–35
COVID-19 pandemic and, 213–14, 215, 217, 309–11, 399
France and Macron, 120–21, 140–43
stakeholder capitalism, 233–35
taxes and tax policy, 3
Trump and trade policy, 172
Finland, 352–53
COVID-19 pandemic in, 267, 273
UBI in, 352–53, 360–64
Five Star Movement, 90–91
Floyd, George, 309
Foer, Franklin, 69
Food and Drug Administration (FDA), 287–88, 290, 293
Food Marketing Institute, 249
Ford, Gerald, 379
Formigoni, Roberto, 261–63
Foroohar, Rana, 45
France, 120–43, 402
COVID-19 pandemic in, 275–76
health care spending, 261–62
Macron’s economic reforms, 125–28, 129–31
pension reforms, 120–21, 136–37, 140–43
presidential election of 2017, 121, 122, 123–25
protests, 10, 120, 127, 129, 131–36, 142–43
Freddie Mac, 139, 140
free trade, 51–57, 377–81
French Association of Private Enterprises, 130
French Revolution, 128
Friedman, Milton, 53, 56, 242, 359, 378
Friedman doctrine, 53–56, 155, 235, 242–43
Frum, David, 360
Fukuyama, Francis, 10, 404
Gabriel, Peter, 24
Galbraith, John Kenneth, 359
Game of Thrones (TV show), 181
gasoline taxes, 131–33
Gates, Bill, 23, 384
Geithner, Timothy, 106–7, 139
General Agreement on Tariffs and Trade (GATT), 52
General Electric, 54
Genovesi, Claudia Veronica, 319
Georgia and election of 2020, 331, 336–37
Georgieva, Kristalina, 314–15
Germany
COVID-19 pandemic, 260, 274–76, 277, 300, 305
health care spending, 261–62
Ghebreyesus, Tedros, 303
Gilead Sciences, 285–95, 299
GiveDirectly, 353–54
Global Events Management, 42–43
global financial crisis, 12, 103, 104–8, 380, 394
BlackRock and, 139–40, 214
Blackstone and, 107, 163–65, 397
in Britain, 109, 341, 344
European Union and, 116, 274
in Finland, 361
in Italy, 79, 90, 261
JPMorgan Chase and, 104–8, 139
role of derivatives, 8, 394
TARP, 104–6, 139–40
globalization, 5, 7, 10, 27–28, 45–46, 59–61, 66, 125–26, 403
Bezos and Amazon, 49–50, 56–57
Goldin, Ian, 27–28
Goldman Sachs, 104, 105, 202, 336
Goliath (Stoller), 372, 377, 380
Gonzalez, William, 221, 238–39
Goodall, Jane, 385–86
Google, 34, 368–69, 380
Gore, Al, 25
Grahn, Johnny, 151
Grane, Mia, 269–73
Granite City, Illinois, 57–58, 60–62, 72–73
Gray, Jon, 333
Great American Revival Industry Groups, 199
Great Britain. See Britain
Great Depression, 50–51, 104, 113, 221, 338
Great Recession, 153, 222
Greece
COVID-19 pandemic, 274–75
government-debt crisis, 99, 274
Greek immigrants to United States 101–2
Greensill Capital, 278–79
Greenspan, Alan, 394
Greylock Capital Management, 325
Griffin, Ken, 336
Grossman, Marc, 124
Grosvenor Group, 340–41
Grunshaw, Clive, 343
Guez, Philippe, 122
Gupta, Sanjeev, 278–79
Gustafson, Yngve, 272
Guzmán, Martín, 321–25
H&M, 87–88, 92, 156–57, 269
Harding, Warren, 376
Harriel, John, 347–50
Harriman, Pamela, 78
Harris, Kamala, 355
Harvard Business School, 54
Harvoni, 290
health care (health care systems), 11, 36, 128, 183–94, 316, 354
Affordable Care Act, 345–46
Blackstone and, 185–88, 191–94, 210–11, 212–13
Britain’s National Health Service, 101, 113, 115, 118, 243, 259, 265–66, 277, 338–39
cooperative companies, 343–50
COVID-19 pandemic and, 1, 3, 183–85, 189–94, 207–13, 260–73, 283
in France, 128, 261–62
in Italy, 79, 80, 81, 258–59, 261–65, 282–83
Milligan at Davos, 290–92
in Sweden, 147, 149, 156, 259, 266–74
Healthcare Anchor Network, 345–50
hedge funds, 100, 116–17, 159, 225–26, 336
Hembla, 166
herd immunity, 268
Heron, Mohammed, 311–15
Hollande, François, 122, 123
homelessness, 34–35, 106, 144, 147, 340, 346, 355, 382
hospital closures, 189–90
Howard, Ted, 343–45
HSBC, 81, 141
Huffington, Arianna, 24, 28
Huffington Post, 23–24
Hughes, Chris, 353
Hultgren, Claes, 150
Humes, Hans, 325
Huntington, Samuel, 5
Hurricane Katrina, 33
Icahn, Carl, 391
IKEA, 153–55
impact investments, 345
income taxes, 22, 56–57, 155, 388–89, 390
India, 295–96, 302
Indiana Senate Bill 101 (Religious Freedom Restoration Act), 34
Inditex, 87
IndyMac, 202
inequality. See economic inequality
inflation, 156, 317
Institute of International Finance, 315–16
interest rates, 107, 138, 156, 197, 216, 218, 318–19
Internal Revenue Service (IRS), 175, 389, 391, 393, 396
International Monetary Fund (IMF), 51, 314–15, 317–18, 319, 320–21, 323–24
Invitation Homes, 163–64
Iran, 47, 151
Israel, 26, 301
Italian Renaissance, 28
Italy, 76–92, 387
COVID-19 pandemic in, 76, 81, 196, 258–65, 274, 282–83
Fiat and, 76–84
health care spending, 81, 261–62
right-wing populism in, 16, 84, 90–92, 145
Jagger, Mick, 39
Jamali, Babak, 151–52
James, Tony, 333
Jammeh, Binta, 166
Jim Crow laws, 152–53, 359
job guarantee, 356–57
John Paul II, Pope, 78
Johnson, Boris, 117–19, 230, 276–77, 299
JPMorgan Chase, 103–8, 177
Brexit, 96–97, 99–100, 108–9, 129
China and, 56, 64
COVID-19 pandemic and, 206–7, 398
financial crisis and, 103, 104–8, 139
junk bonds, 54
“just-in-time” (JIT) manufacturing, 189
Juventus Football Club, 78
Kabat-Zinn, Jon, 25
Kaiser Permanente, 346–50
Kamprad, Ingvar, 153–55
Kaneteg, Eva, 165–67
Kangas, Olli, 363
Kelly, Dave, 110–11
Kennedy, John F., 78
Kenya’s GiveDirectly, 353–54
Keynes, John Maynard, 221
Khan, Lina, 373, 380–81
King, Martin Luther, Jr., 40, 348, 359
Kirchner, Néstor, 318
KKR & Co. Inc., 187, 225–26
Kleinbard, Edward D., 169
Kommunal, 155–56
Kudlow, Larry, 214
Kushner, Jared, 174, 201
LaBelle, Patti, 161
labor unions, 11, 58–59, 60–61, 86, 126–27, 155–56, 236, 256, 343
Lehman Brothers, 139, 158–59
Leibovich, Mark, 30–31
Le Maire, Bruno, 140
Le Pen, Marine, 125, 136
Lepora, Chiara, 258–60, 282–83
Lerner, Stephen, 332
Les Echos, 123–24
Lewis, Jackie, 111
Lewis, John, 255, 370
life expectancy, 230
Lin, Ming, 183–85, 189, 190–91, 192–94, 210, 395
Linton, Louise, 203
living wage, 343–44, 356. See also universal basic income
lobbying, 6, 7, 71, 249, 293
Lodi, Italy, 258–59, 260
Longhi, Mario, 63
Lundberg, Olle, 271
Ma, Jack, 19–20, 44, 63–64, 243
Machiavelli, Niccolò, 121
Macri, Mauricio, 316–21, 326
Macron, Emmanuel, 15, 120–28, 386
COVID-19 pandemic, 275–76
economic reforms, 125–28, 129–31, 393
Fink and BlackRock, 120–21, 140–43
pension reforms, 120–21, 136–37, 140–43
presidential election of 2017, 121, 122, 123–25
protests against, 120, 127, 129, 131–36, 142–43
Madison, James, 17
Mad Money (TV show), 229, 232, 241, 398
Madoff, Bernard, 103–4
Malani, Preeti, 254
Malardie, Claudine, 135
Mandela, Nelson, 40
march-in rights, 294–95
Marchionne, Sergio, 82–83
Marriott International, 237–39
Marshall, Paul, 117
Martin, Cornelia, 161
Martin, John C., 289–90
Matila, Jaana, 362–63
May, Theresa, 117, 118–19
May 68 protests, 128
McConnell, Mitch, 15, 219–22, 225, 331, 357, 386
McInroy, Neil, 341
Medicaid, 36, 177, 189, 290
medical billing. See surprise medical billing
Medicare, 177, 187, 189, 190
Mellon, Andrew, 376–77
Meng, Ben, 223–24
Menichella, Daniel, 299
Merkel, Angela, 276, 305
Merlin Entertainment, 280–81
Merrill Lynch, 160
Merseyside Fire and Rescue Service, 112–13
Mexican border wall, 61
Mexican immigrants, 60, 61
Mexico and free trade, 53, 75
migrant workers, 311–16. See also European migrants
Mihaljevic, Tom, 211
Milan, Italy, 85, 261–65
Miller, Jeff, 208–9
Milligan, John, 290–93
MiMedx Group, 207
minimum wage, 72, 129, 177, 337, 354
Miquel, Emmanuel, 122
Mitterand, François, 129
Mnuchin, Steven, 15, 160, 174, 176, 202–6, 207, 209, 214, 215, 276, 323, 336
Moderna, 285, 300
Modi, Narendra, 295–96, 302
Moët Hennessy Louis Vuitton, 123–24, 130
Moeti, Matshidiso, 307
Mondragon Group, 344
monopoly power, 368–81
Amazon and, 71–72, 334, 368–74, 381
Big Tech congressional hearings, 368–73
Moorhead, Andy, 111–12
“moral hazard,” 106–7
More, Thomas, 358
Morgan, J. P., 9, 375
Morgenthau, Henry, 51, 55, 75, 171
Morrison, Michael, 72–75
mortgage-backed securities, 137–38
Murray, Alan, 235
Musk, Elon, 391
mutual funds, 54, 143, 172, 224–25
National Economic Council, 373
National Federation of Independent Business, 249
National Front, 125, 136
nativism. See anti-immigrant sentiments
NATO (North Atlantic Treaty Organization), 170
Navarro, Peter, 170–71, 173, 297
Nazis, 74, 121, 127, 145, 154, 178, 331
Neal, Richie, 212–13
Neemuchwala, Abidali, 28
Nesi, Edoardo, 84–86, 88–89, 90–91
Netanyahu, Bibi, 26, 301
Netherlands, 269, 275
networking, 6, 25, 41
New Deal, 71, 113, 338, 376–77, 378
New York Times, 23, 24, 53, 325
Nissan Motor Co., Ltd., 114–15
Nokia Corporation, 361, 362
Nordic Model, 146–48, 152, 167
North American Free Trade Agreement (NAFTA), 53, 171
North Korea, 39, 47
nostalgia, 62, 91–92, 115–16. See also right-wing populism
Novartis International AG, 263
nursing homes, 239, 259, 265–74
Obama, Barack, 106, 108, 162, 163, 197–98, 335, 394
O’Day, Daniel, 285–86, 287–88, 292, 294
Odey, Crispin, 116–17
ohana, 31–32, 36, 228, 243
Onassis, Jackie Kennedy, 78
Oracle Corporation, 30–31, 33
Ortega, Amancio, 87
Osborne, George, 15, 93–96, 279–80, 399
austerity program, 93–94, 101, 109–13, 365–66
Brexit, 94–98, 100–101, 114–15, 141–42
outsourcing, 53, 56, 59–61
Paine, Thomas, 327, 358–59
Pakistan, 314
Panama Papers, 79
pandemic. See COVID-19 pandemic
Paris Agreement, 27, 170, 233, 234
patent protections, 14, 292, 303–8
Patient Unity, 188–89
Paulson, Henry “Hank,” 104–5, 139
Paumgarten, Nick, 39
Paycheck Protection Program, 206–9
Pecoux, Olivier, 122
Pelosi, Nancy, 249, 355–56
pension funds, 54, 159, 222–27, 322
Perón, Eva “Evita,” 317
Perón, Juan Domingo, 317
Personal Responsibility and Work Opportunity Reconciliation Act of 1996, 364–65
Persson, Erling, 87–88
Persson, Stefan, 87–88, 156–57
Peterson, Peter G., 158–59, 161
Petterson, Urban, 148–49
Pfizer, 285, 300–301, 304–5, 307–8, 378
pharmaceutical industry, 24–25, 289–95
COVID-19 vaccines, 2, 4, 285–87, 298–308
patent protections, 14, 292, 303–8
Pharmasset, 290
Phelps, Edmund, 323–24
Phelps, Jim, 61
philanthropy, 8
Philippe, Edouard, 130
PhRMA (Pharmaceutical Research and Manufacturers of America), 287, 289, 304
Pichai, Sundar, 368–69
Più Europa Party, 263
police violence, 309–10
political contributions, 162–63
“political correctness,” 60, 168
populism. See right-wing populism
Posen, Adam, 62
Powell, Jay, 205, 214, 215
Prato, Italy, 84–86, 88–89
Precariat, 353–54
Preston model, 340–43
Private Equity Council, 162
Prophet, Tony, 243
Providence Health System, 210
Public Citizen, 251, 288
Publicis Group, 44
Putin, Vladimir, 125
Qatar, migrant workers in, 311–15
Quayle, Dan, 209–10
racial prejudice and racism, 52, 74, 84, 135, 149, 151, 152–53, 178, 230–31, 334, 359
Reagan, Ronald, 129, 335, 364, 386, 390
reasonable pricing clause, 293–94
regulations, 4, 7, 34, 162, 227. See also deregulation
Britain and Brexit, 97–98, 108, 115–17
Reinhart, Carmen, 324
Relative Value Units (RVUs), 191
Reliance Industries, 29
remdesivir, 285–86, 287–88, 292–93, 294–95
remittances, 314
Ricchetti, Jeff, 336
Ricchetti, Steve, 336
right-wing populism, 9–11, 16, 125. See also anti-immigrant sentiments
in France, 125, 136
in Italy, 84, 90–92
in Sweden, 145, 148–53
Trump and, 60–62, 74–75
Robber Barons, 8–9, 16, 36, 46, 67, 369, 375, 377, 401–2
Rockefeller, John D., 160, 375
Romoff, Jeffrey, 192
Roosevelt, Franklin D., 338, 376–77
Rosen, Hilary, 333–34
Ross, Wilbur, 174
Rothschild & Co., 121, 122
Rouse, Cecilia, 336
Rutte, Mark, 275
Saez, Emmanuel, 22, 391, 394
Sajwani, Hussain, 313
Salesforce, 29, 30–35, 336, 396
COVID-19 pandemic and, 2–3, 228–29, 231–32, 241–44
sales taxes, 22, 68, 71, 389
Saloranta, Asmo, 361–62
Salvini, Matteo, 16, 84, 90–91
Sanders, Bernie, 333, 384, 391, 393, 395–96
San Donato Group, 263
San Francisco Proposition C, 34–35
Sang Wei, 89
San Raffaele Group, 263
SARS outbreak, 297–98
Saudi Arabia, 234–35, 236, 312, 313
Saudi Aramco, 234–35
Schiffrin, Anya, 45
Schmidt, Eric, 19–20
Schumer, Chuck, 162
Schwab, Hans, 42–44
Schwab, Hilde, 41, 43
Schwab, Klaus, 15, 37–45, 296
business ventures of, 42–44
stakeholder capitalism, 232–33, 237
Trump and, 169–70, 236, 237
Schwab Foundation for Social Entrepreneurship, 43–44
Schwarzman, Christine Hearst, 161
Schwarzman, Joseph, 157–58
Schwarzman, Stephen, 157–67
background of, 54, 157–58
China and, 56, 64–65
COVID-19 pandemic and, 3, 205–6, 210–13, 280–81, 397, 403
early business career of, 158–59
financial crisis and, 107, 163–65, 397
Fink and, 138
founding of Blackstone, 159–62
health care holdings, 185–88, 191–94, 210–11, 212–13, 333
pension funds, 223–27
real estate holdings, 144–46, 157, 163–67, 351
taxes and tax policy, 3, 159–60, 162–63, 224–25, 338, 392, 394, 395
Trump and, 173, 178–79, 205–6, 224–25, 329–33, 335, 336
Schwarzman Scholars, 64–65, 224
Scott, MacKenzie, 57, 246
2nd CALL (Second Chance At Loving Life), 347–50
Securities and Exchange Commission (SEC), 174, 207, 209, 256–57, 390
September 11 attacks (2001), 183, 332
Shad, John, 390
share buybacks, 107, 205, 239, 390–91, 398
shareholder value, 53–56
Shaw, David E., 67, 70
Shiller, Robert, 25
Shkreli, Martin, 290–91
Short, Martin, 161
sick leave, 249–50, 257, 401
Simmons, Dan, 58–59, 60, 62, 74
Singer, Paul, 324
Slack, 398
Slay, Charles, 349–50
Smalls, Christian, 247–55, 257, 395
Smith, Adam, 17
Smoot-Hawley Tariff Act, 50–51
social distancing, 184, 197, 230, 231, 248, 255, 267, 280
Socialist Party (France), 122
Sorenson, Arne, 237–39
Soros, George, 178, 391
South African, 230–31, 303, 310, 382
Soviet Union, 51, 98, 377
Spain, 344
COVID-19 pandemic in, 275
wealth tax, 393–94
Zara, 87–88, 92
stakeholder, use of term, 30
stakeholder capitalism, 2, 30–31, 37–38, 232–37
Stakeholder Capitalism (Schwab), 233
Standing, Guy, 352–53, 359
State Investment Company of China, 64
steel industry, 57–58, 60–63, 72–73, 171–72
Stefani, Gwen, 174
Stephanopoulous, George, 219
Stephens, Dan, 112–13
Steward Health Care, 209–10
Stewart, Rod, 161
Stiglitz, Joseph, 25, 45–46, 179, 318, 321, 323–24, 326, 360
stock buybacks. See share buybacks
Stockton, California, UBI in, 353, 364
Stoller, Matt, 372, 377, 380
subprime mortgage crisis, 106–7, 163–64
Sullivan & Cromwell LLP, 174
Summers, Larry, 394–95
Sunak, Rishi, 277
supply chains, 27, 46, 173, 196, 236
COVID-19 pandemic and, 27, 196–97, 251, 286, 295–98
surprise medical billing, 187–89, 191, 212–13
Sweden, 15, 128, 144–67, 402
anti-immigrant sentiments in, 145, 148–53
Blackstone and housing, 144–46, 164–67
COVID-19 pandemic in, 259, 266–74, 275
economic reforms, 155–57
Nordic Model, 146–48, 152, 167
Sweden Democrats, 145, 148–53
Symphony (yacht), 123, 124
Syrian refugees, 24, 90, 148
Szebehely, Marta, 269
tariffs, 50–51, 61–62, 171–73
TARP (Troubled Asset Relief Program), 104–6, 139–40
Taxation (Mellon), 376
Tax Cuts and Jobs Act of 2017, 169–70, 175–77, 195–96, 224–25
tax evasion, 1–2, 4–5, 34–35, 124, 383–90
in Italy, 76–77, 78–79, 81–82
tax policy, 14, 52, 162–63, 335, 383–90, 405. See also corporate taxes; income taxes; wealth taxes
Davos Man and, 3, 7–8, 22, 29, 56–57, 383–84
in Sweden, 147
TeamHealth, 184–94, 210, 212–13
technology transfers, 305–6
Tegnell, Anders, 268
Thain, John, 160
Thatcher, Margaret, 95, 98, 110, 115, 129
Theranos, 291
Thunberg, Greta, 39
Tice, Richard, 116
Tivéus, Martin, 271, 273
top one percent, 22, 384, 387–89
trade policy, 11, 50–57, 61–62, 114, 377–81
Britain and Brexit, 113–14, 115, 119
Trump’s trade war, 61–62, 170–73, 286, 297
trade unions. See labor unions
Trailblazer (Benioff), 31
Travaglini, Roberta, 88–90
trickle-down effect, 12, 130, 276, 335, 386, 399
Trump, Donald, 10, 16, 125, 161, 168–79, 236–37
“America First,” 75, 168, 171, 179
anti-immigration and, 60–62, 74–75
Capitol attack of 2021, 330–31, 332
CARES Act, 200–202, 204–12, 220–21
COVID-19 pandemic, 196, 197–200, 230, 284–85, 293, 297–300, 329
COVID-19 vaccines, 284, 285–86, 294–95, 298–300
at Davos, 168–70, 178–79, 236–37
Davos Man and, 20–21, 47
election of 2016, 60–61, 202–3
election of 2020, 14, 284, 329–33, 335
stock market and, 195–96
tax cuts, 169–70, 175–77, 195–96, 201, 219, 224–25, 335, 386
trade war, 61–62, 170–73, 286, 297
Trump, Ivanka, 174
Truvada, 292
Tsinghua University, 64–65, 224
Tyson Foods, 199–200
unemployment, 61, 153, 276, 354, 355, 359
in Argentina, 318
in Finland, 361, 362–64
in France, 125, 126, 127, 129, 132
in Spain, 344
in Sweden, 147, 156
in the United States, 175, 176, 198–99, 201, 206, 211–12, 221, 276, 337, 348, 354
United Kingdom. See Britain
United States Capitol attack of 2021, 330–31, 332
United States presidential election of 2016, 60–61, 202–3
United States presidential election of 2020, 14, 329–35
universal basic income (UBI), 351–67, 382
brief history of, 358–59
in Finland, 352–53, 360–64
Universal Credit, 365–66
UPS (United Parcel Service), 252
U.S. Steel, 62–63, 72–73, 378
Usuelli, Michele, 263–64
USWeb Corp., 43–44
Utopia (More), 358
Vagali, Elio, 80
value-added taxes (VAT), 81
Vietnam War, 10, 52, 128, 359
Wallenberg, Jacob, 165
Wall Street Journal, 70, 160–61
Walmart, 66, 68, 72, 243, 379–80
Warren, Elizabeth, 333, 384, 391, 393, 395–96
Washington Mutual, 105, 107
Washington Post, 23, 236
wealth taxes, 124, 127, 129–31, 156–57, 384–85, 391–96
Weill, Sanford “Sandy,” 102–3
Welch, Jack, 54
welfare reform, 364–65
white working class, 50, 61, 74–75, 84, 135, 172, 332–34
Wilson, Woodrow, 375–76
Wipro, 27, 28
Woods, Ngaire, 29–30
World Bank, 315, 324
World Bank Group, 314–15
World Economic Forum. See Davos Forum
World Food Program, 401
World Health Organization (WHO), 287
vaccine equity, 302, 303, 305, 307
World Trade Organization (WTO), 20, 52, 171
China’s entry, 55, 56, 63, 86
vaccine patents, 303–4, 305, 306
World War I, 128, 376
World War II, 50–51, 110–11, 128
Worth, Everett, 192–94
Wu, Tim, 373
Xi Jinping, 44–45, 65, 125, 172, 296
Yang, Andrew, 354
Yellen, Janet, 336
Yellow Vests, 120, 129, 131–36, 142–43, 382
Yemen, 258, 282
Young, Neil, 31
Zapolsky, David, 254–55, 256
Zhang, Daniel, 243
Zoom, 228, 310–11, 321, 331
Zuckerberg, Mark, 368–69
Zucman, Gabriel, 22, 391