Today, we're exploring an intriguing question: How did we become a society of household CFOs? With the recent failure of Silicon Valley Bank, Marina Gorbis, IFTF Executive Director, and Jerry Davis, University of Michigan Professor of Management and Organizations, dive into this phenomenon and its implications for our society.

Marina opens the discussion by highlighting how people in the US have become chief financial officers of their households, managing their investments and financial futures. She then introduces Jerry Davis, who takes us on a journey through the history of American society, illustrating the shift from a corporate-centered society to a market-centered one.

Jerry explains how finance has become the primary lens through which we view the world, influencing our language, culture, and even our political landscape. He takes us back to the post-war era and traces the decline of manufacturing and the rise of retail, noting how this shift has created a society of investors.

With the prevalence of stock ownership, financial markets have infiltrated our daily lives, turning us all into portfolio managers. Jerry warns that this is not a neutral metaphor, as the pervasive nature of finance can have corrosive effects on our lives and the way we view the world.

Join us for this captivating episode as we delve into the historical and societal impacts of financialization, and consider the future of our world as we continue to navigate through this financial lens.

03/31/2023

Future Now 002 - Household CFOs and the Financialization of Society

In today's episode, IFTF's Executive Director Marina Gorbis talks with Jon Shelton, Associate Professor and Chair of Democracy and Justice Studies at the University of Wisconsin-Green Bay and Vice President for Higher Education of the American Federation of Teachers-Wisconsin. They discuss Jon’s new book, “The Education Myth,” which challenges the idea that education is a solution to all economic and social inequalities in society. Instead, Jon argues that we need to focus on other policy levers and reforms in addition to education. We hope you'll enjoy this conversation.

Quote: “The ‘education myth’ is the idea that education and, more specifically, investment in human capital can magically overcome all of the other economic and social inequalities that exist in our society.”

Mentioned in this episode:

The Education Myth, Jon Shelton (https://bit.ly/3LrBJAP)

The Fantasy Economy, Neil Kraus (https://bit.ly/3Nixitk)

The Education of Blacks in the South 1860-1935, James D. Anderson (https://bit.ly/3ouAGaf)

Teacher Strike! Public Education and the Making of a New American Political Order, Jon Shelton (https://bit.ly/3V6cCHe)

Thinking Like an Economist, Elizabeth Popp Berman (https://bit.ly/3LbY3xg)

Knocking on Labor's Door, Lane Windham (https://bit.ly/3V0uwel)

Don't Blame Us, Lily Geismer (https://bit.ly/41BmQBM)

The Race between Education and Technology, Claudia Goldin & Lawrence F. Katz (https://bit.ly/3LpnVaa)

The Meritocracy Trap, Daniel Markovits (https://bit.ly/3L8pkQW) 

The Tyranny of Merit, Michael Sandel (https://bit.ly/3N5JgGR)

Future Now 004 — The Education Myth with Jon Shelton

Brought to you by the visionary minds at Institute for the Future, this captivating series delves deep into the ever-evolving landscapes of science, technology, and culture. In each episode, IFTF's distinguished researchers engage in riveting conversations with the world's most innovative scientists, engineers, trailblazers, and thought leaders, who are redefining the course of our collective future - here and now. 

In this season, "Future Now" shines a spotlight on the bold endeavors to revolutionize enterprise and business practices. Our gripping discussions explore the pursuit of more humane, inclusive, and equitable outcomes, providing you with an exclusive front-row seat to the breakthroughs that will define tomorrow.

Future Now 002 - Household CFOs and the Financialization of Society

Future Now - Institute for the Future

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