Mark your calendar for Wednesday evening, April 3, when economist Luigi Zingales will deliver the 2013 John W. Pope lecture on his new book, Capitalism for the People: Recapturing the Lost Genius of American Prosperity. Zingales is the Robert C. McCormack Professor of Entrepreneurship and Finance at the Booth School of Business at the University of Chicago. When: April 3, 7:30 - 8:45 p.m. Where: N.C. State University, Nelson Hall Auditorium. (Parking is available in the parking deck on Dan Allen Drive.) A reception will follow the speech. The event is free of charge and open to the public. Book Summary Born in Italy, University of Chicago economist Luigi Zingales witnessed firsthand the consequences of high inflation and unemployment—paired with rampant nepotism and cronyism—on a country’s economy. This experience profoundly shaped his professional interests, and in 1988 he arrived in the United States, armed with a political passion and the belief that economists should not merely interpret the world, but should change it for the better. In A Capitalism for the People, Zingales makes a forceful, philosophical, and at times personal argument that the roots of American capitalism are dying, and that the result is a drift toward the more corrupt systems found throughout Europe and much of the rest of the world. American capitalism, according to Zingales, grew in a unique incubator that provided it with a distinct flavor of competitiveness, a meritocratic nature that fostered trust in markets and a faith in mobility. Lately, however, that trust has been eroded by a betrayal of our pro-business elites, whose lobbying has come to dictate the market rather than be subject to it, and this betrayal has taken place with the complicity of our intellectual class. Because of this trend, much of the country is questioning—often with great anger—whether the system that has for so long buoyed their hopes has now betrayed them once and for all. What we are left with is either anti-market pitchfork populism or pro-business technocratic insularity. Neither of these options presents a way to preserve what the author calls “the lighthouse” of American capitalism. Zingales argues that the way forward is pro-market populism, a fostering of truly free and open competition for the good of the people—not for the good of big business. Drawing on the historical record of American populism at the turn of the twentieth century, Zingales illustrates how our current circumstances aren’t all that different. People in the middle and at the bottom are getting squeezed, while people at the top are only growing richer. The solutions now, as then, are reforms to economic policy that level the playing field. Reforms that may be anti-business (specifically anti-big business), but are squarely pro-market. The question is whether we can once again muster the courage to confront the powers that be.
RALEIGH, N.C. FEB. 19, 2013 — The John William Pope Foundation, one of the top-giving philanthropies in North Carolina, is proud to announce the 2013 class of Pope Family Eagle Scout scholars. The scholarships, valued at $20,000 for each student, will help four young men pursue careers in the military, small business, and music industry. The mission of the Pope Family Eagle Scout Scholarship is to further the course of study for devoted Eagle Scouts who want to become leaders in the free-enterprise system. Since the first class of scholars in 2001, the Pope Foundation has invested over $1 million in these promising young men. “Helping these Eagle Scouts become the greatest leaders of tomorrow — that’s our goal,” said John Akerman, CEO of the Occoneechee Council, the scouting council that administers the scholarship. “We’re excited to see where life takes this newest class of young men.” The Pope Foundation funds two scholarships, valued at $40,000, and the Occoneechee Council funds the other two, also valued at $40,000. The Occoneechee Council is the largest scouting council in North Carolina, serving 20,000 youths and covering 12 counties. The 2013 class of scholars comprises: Michael Beley: Plans to pursue a career in mechanical engineering and own an engineering firm. Timothy Germann Jr.: Plans to pursue a career in the United States armed forces. Charles R. Smith: Plans to study business management with a minor in economics and own a financial or management company. Cameron Theobald: Plans to pursue a career in music and own a recording studio. For more information or interviews, contact Dave Riggs or David Bass at 919-861-6445 or firstname.lastname@example.org. ABOUT THE POPE FOUNDATION The John William Pope Foundation, located in Raleigh, North Carolina, works to improve the well-being of the citizens of North Carolina and the nation through the advancement of individual freedom and personal responsibility. From its first grant in 1986 to the present, the Foundation’s giving has totaled over $100 million, primarily to charities and organizations in North Carolina. The Foundation is a private family foundation supported by the late John William Pope Sr. and his wife, Joyce W. Pope, and their children: their late son, John William Pope Jr.; Amanda Pope; and Art Pope. The Pope Foundation receives additional support from the family’s business, Variety Wholesalers Inc., which owns and operates Roses, Maxway, Super 10, and other discount stores, and has its offices and distribution centers in Raleigh and Henderson, North Carolina. ###