The End of Power (51 page)

58
. Graham Bowley, “Rivals Pose Threat to New York Stock Exchange,”
New York Times
, October 14, 2009; Jacob Bunge, “BATS Exchange Overtakes Direct Edge in February US Stock Trade,”
Dow Jones Newswires
, March 2, 2010.

59
. “Shining a Light on Dark Pools,”
The Independent
, May 22, 2010.

60
. Nina Mehta, “Dark Pools Win Record Stock Volume as NYSE Trading Slows to 1990 Levels,”
Bloomberg News
, February 29, 2012.

61
. Venkatachalam Shunmugam, “Financial Markets Regulation: The Tipping Point,” May 18, 2010,
www.voxeu.org
.

62
. Institutional Investor,
Hedge Fund 100
(2012).

63
.
Bloomberg Markets
, February 2012, p. 36.

64
. Gary Weiss, “The Man Who Made Too Much,”
Portfolio.com
, January 7, 2009.

65
. Mallaby,
More Money Than God
, pp. 377–378.

66
. James Mackintosh, “Dalio Takes Hedge Crown from Soros,”
Financial Times
, February 28, 2012.

67
. Ibid.

1
. “Latin America Evangelism Is ‘Stealing' Catholic Flock,”
Hispanic News
, April 16, 2005.

2
. Diego Cevallos, “Catholic Church Losing Followers in Droves,” IPS news agency, October 21, 2004.

3
. Indira Lakshmanan, “Evangelism Is Luring Latin America's Catholics,”
Boston Globe
, May 8, 2005; “Hola, Luther,”
Economist
, November 6, 2008; Carlos G. Cano, “Lutero avanza en America Latina,”
El País
, July 30, 2010.

4
. Hanna Rosin, “Did Christianity Cause the Crash?”
The Atlantic
, December 2009.

5
. Pew Forum on Religion and Public Life, “Spirit and Power: A 10-Country Survey of Pentecostals,” October 2006.

6
. Edir Macedo, quoted in Tom Phillips, “Solomon's Temple in Brazil Would Put Christ the Redeemer in the Shade,”
Guardian
, July 21, 2010.

7
. Alexei Barrionuevo, “Fight Nights and Reggae Pack Brazilian Churches,”
New York Times
, September 15, 2009.

8
. Richard Cimino, “Nigeria: Pentecostal Boom—Healing or Reflecting a Failing State?”
Religion Watch
, March 1, 2010.

9
. Pew Forum on Religion and Public Life, “Global Christianity: A Report on the Size and Distribution of the World's Christian Population,” December 2011.

10
. Ibid.

11
. Pew Forum on Religion and Public Life, “Faith on the Move: The Religious Affiliation of International Migrants,” March 2012.

12
. Larry Rohter, “As Pope Heads to Brazil, a Rival Theology Persists,”
New York Times
, May 7, 2007.

13
. Diego Cevallos, “Catholic Church Losing Followers in Droves,” IPS news agency, October 21, 2004; see also “In Latin America, Catholics Down, Church's Credibility Up,” Catholic News Service, June 23, 2005.

14
. “The Battle for Latin America's Soul,”
Time
, June 24, 2001.

15
. Allen,
The Future Church
, p. 397.

16
. “Pentecostals Find Fertile Ground in Latin America,” BBC Radio 4 Crossing Continents, bbc.co.uk.

17
. Indira Lakshmanan, “Evangelism Is Luring Latin America's Catholics,”
Boston Globe
, May 8, 2005.

18
. On the rise and advantage of evangelicals, see André Corten, “Explosion des pentecôtismes africains et latino-américains,”
Le Monde Diplomatique
, December 2001; and Peter Berger, “Pentecostalism: Protestant Ethic or Cargo Cult?”
The American Interest
, July 29, 2010.

19
. Alexander Smoltczyk, “The Voice of Egypt's Muslim Brotherhood,”
Spiegel
, February 15, 2011; see also John Esposito and Ibrahim Kalin, “The 500 Most Influential Muslims in the World in 2009,” Edmund A. Walsh School of Foreign Service, Georgetown University. (Sheikh Dr. Yusuf al Qaradawi, head of the International Union of Muslim Scholars, is ninth on the list.)

20
. Harold Meyerson, “When Unions Disappear,”
Washington Post
, June 13, 2012.

21
. For data in trends in union membership in Europe, see Sonia McKay, “Union Membership and Density Levels in Decline,”
EIROnline
, Eurofound Document ID No. EU0603029I 01–09–2006 (download at
http://www.eurofound.europa.eu/eiro/2006/03/articles/eu0603029i.htm
), and J. Visser, “Union Membership Statistics in 24 Countries,”
Monthly Labor Review
129, no. 1 (January 2006),
http://www.bls.gov/opub/mlr/2006/01/art3abs.htm
.

22
. Alasdair Roberts, “Can Occupy Wall Street Replace the Labor Movement?”
Bloomberg
, May 1, 2012.

23
. For further information on Stern, see Harold Meyerson, “Andy Stern: A Union Maverick Clocks Out,”
Washington Post
, April 14, 2010.

24
. Steven Greenhouse, “Janitors' Union, Recently Organized, Strikes in Houston,”
New York Times
, November 3, 2006.

25
. On China's labor movement, see David Barboza and Keith Bradsher, “In China, Labor Movement Enabled by Technology,”
New York Times
, June 16, 2010, and Edward Wong, “As China Aids Labor, Unrest Is Still Rising,”
New York Times
, June 20, 2010.

26
. Richard Sullivan, “Organizing Workers in the Space Between Unions,” American Sociological Association paper, January 17, 2008.

27
. OECD, “Development Aid: Total Official and Private Flows Net Disbursements at Current Prices and Exchange Rates” (Table 5), Paris, April 4, 2012,
http://www.oecd-ilibrary.org/development/development-aid-total-official-and-private-flows_20743866-table5
.

28
. Giving USA Foundation,
Giving USA 2011: The Annual Report on Philanthropy for the Year 2010
,
www.givingusareports.org
.

29
. These numbers are quoted from annual reports of the Foundation Center, available online at
www.foundationcenter.org/findfunders/
.

30
. James M. Ferris and Hilary J. Harmssen,
California Foundations: 1999–2009: Growth Amid Adversity
, The Center on Philanthropy and Public Policy, University of Southern California.

31
. Again, see Foundation Center at
http://foundationcenter.org/findfunders/
.

32
. Mauro de Lorenzo and Apoorva Shah, “Entrepreneurial Philanthropy in the Developing World,” AEI Online, American Enterprise Institute, December 12, 2007; Michael Jarvis and Jeremy M Goldberg, “Business and Philanthropy: The Blurring of Boundaries,” Business and Development Discussion Papers 9, World Bank Institute, Fall 2008.

33
. Raj M. Desai and Homi Kharas, “Do Philanthropic Citizens Behave Like Governments? Internet-Based Platforms and the Diffusion of International Private Aid,” Wolfensohn Center for Development at Brookings, Working Paper 12, October 2009.

34
. Moyo,
Dead Aid.

35
. Tom Munnecke has also weighed in on the subject of “micro-philanthropy”: see Tom Munnecke and Heather Wood Ion, “Towards a Model of Micro-Philanthropy,” May 21, 2002,
givingspace.org
.

36
. Jacqueline Novogratz, quoted in Richard C Morais, “The New Activist Givers,”
Forbes
, June 1, 2007,
http://www.forbes.com/2007/06/01/philanthropy-wealth-foundation-pf-philo-in_rm_0601philanthropy_inl.html
.

37
. Pew Research Center, “State of the News Media 2012,” March 19, 2012.

38
. Bagdikian,
The New Media Monopoly.

39
. Amelia H. Arsenault and Manuel Castells, “The Structure and Dynamics of Global Multi-Media Business Networks,”
International Journal of Communication
2 (2008): 707–748.

40
. Bruce C. Greenwald, Jonathan A. Knee, and Ava Seave, “The Moguls' New Clothes,”
The Atlantic
, October 2009.

41
. Pew Research Center, “State of the News Media 2012,” March 19, 2012.

42
. Arsenault and Castells, “The Structure and Dynamics of Global Multi-Media Business Networks.”

43
. Michael Kinsley, “All the News That's Fit to Pay For,”
The Economist: The World in 2010
, December 2010, p. 50.

44
. Christine Haughney, “Huffington Post Introduces Its Online Magazine,”
New York Times
, June 12, 2012.

45
. “The Trafigura Fiasco Tears Up the Textbook,”
Guardian
, October 14, 2009; “Twitterers Thwart Effort to Gag Newspaper,”
Time
, October 13, 2009.

46
. Pew Research Center, “State of the News Media 2012,” March 19, 2012.

1
. Yu Liu and DingDing Chen, “Why China Will Democratize,”
The Washington Quarterly
(Winter 2012): 41–62; interview with Professor Minxin Pei, Washington, DC, June 15, 2012.

2
. Fareed Zakaria offered the best synthesis on this subject in his 2003 book
The Future of Freedom: Illiberal Democracy at Home and Abroad.

3
. Huntington,
Political Order in Changing Societies
, p. 8.

4
. The title of Thomas Friedman's best seller
The World Is Flat
captures how pervasive this change has been: how the diffusion of power has drastically altered the world's business and commercial landscape. Friedman also eloquently points to the political consequences of these changes (see especially pages 371–414).

5
. I document the ascent of a new breed of transnational criminal networks and their substantial consequences for the global order, and our daily lives, in
Illicit: How Smugglers, Traffickers and Copycats are Hijacking the Global Economy.
And I discuss the effects of the international financial crisis in global crime and the growing criminalization of governments in “Mafia States: Organized Crime Takes Office,”
Foreign Affairs
, May-June 2012.

6
. Francis Fukuyama, “Oh for a Democratic Dictatorship and Not a Vetocracy,”
Financial Times
, November 22, 2011.

7
. Peter Orszag, “Too Much of a Good Thing: Why We Need Less Democracy,”
The New Republic
, October 6, 2011, pp. 11–12.

8
. Olson,
The Logic of Collective Action: Public Goods and the Theory of Groups.

9
. Burckhardt,
The Greeks and Greek Civilization.

10
. Morozov, “The Brave New World of Slacktivism,”
Foreign Policy
, May 19, 2009,
http://neteffect.foreignpolicy.com/posts/2009/05/19/the_brave_new_world_of_slacktivism
; see also Morozov's
The Net Delusion: The Dark Side of Internet Freedom.

11
. Malcolm Gladwell, “Small Change: Why the Revolution Will Not Be Tweeted,”
The New Yorker
, October 4, 2010,
http://www.newyorker.com/reporting/2010/10/04/101004fa_fact_gladwell
.

12
. Émile Durkheim,
Suicide
(New York: Free Press, 1951; first published in 1897).

13
. Stephen Marche, “Is Facebook Making Us Lonely?,”
The Atlantic
, May 2012.

1
. Several influential authors argue that despite the proliferation of other powers in the international scene, the United States will continue to play the leading role because of various attributes: its military reach combined with a lack of territorial ambition (Robert D. Kaplan's
Monsoon
), its combination of “soft” and “smart”
power (Joseph Nye's
The Future of Power
), and its internal vibrancy and evolution through enterprise, immigration, and free speech (as a different Robert Kaplan argues in
The World America Made
). Conversely, Fareed Zakaria, author of
The Post-American World
, maintains that America is no longer the supreme power even though it still commands leadership in a multipolar world, thanks to its top rankings as having one of the most competitive economies, having the largest numbers of the world's best universities, and other unique assets. Why? In part because its current crop of politicians might not be up to making good on its promise. (See also Fareed Zakaria, “The Rise of the Rest,”
Newsweek
, May 12, 2008.)

2
. Kupchan,
No One's World: The West, the Rising Rest, and the Coming Global Turn.

3
. Bremmer,
Every Nation for Itself: Winners and Losers in a G-Zero World
, p. 1.

4
. Brzezinski,
Strategic Vision: America and the Crisis of Global Power.