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Exposes the intimate relationship between big finance and higher education inequality in America.

Elite colleges have long played a crucial role in maintaining social and class status in America, while public universities have offered a major stepping stone to new economic opportunities. However, as Charlie Eaton reveals in Bankers in the Ivory Tower, finance has played a central role in the widening inequality in recent decades, both in American higher education and in American society at large.

With federal and state funding falling short, the US higher education system has become increasingly dependent on financial markets and the financiers that mediate them. Beginning in the 1980s, the government, colleges, students, and their families took on multiple new roles as financial investors, borrowers, and brokers. The turn to finance, however, has yielded wildly unequal results. At the top, ties to Wall Street help the most elite private schools achieve the greatest endowment growth through hedge fund investments and the support of wealthy donors. At the bottom, takeovers by private equity transform for-profit colleges into predatory organizations that leave disadvantaged students with massive loan debt and few educational benefits. And in the middle, public universities are squeezed between incentives to increase tuition and pressures to maintain access and affordability. Eaton chronicles these transformations, making clear for the first time just how tight the links are between powerful financiers and America’s unequal system of higher education.

“A dark, troubling vision of life in the desert, defined broadly; of mountain lions and drug kingpins, Mexican hopes and Indian feuds.”
—Los Angeles Times

“In these powerful epic tales of the Sonora Desert, Bowden peoples the harsh land on both sides of the US-Mexican border with saints and sinners, but his enduring hero is the desert itself.”
—Kirkus Reviews

In 1901, the Northern Pacific was an unlikely prize: a twice-bankrupt construction of the federal government, it was a two-bit railroad (literally—five years back, its stock traded for twenty-five cents a share). But it was also a key to connecting eastern markets through Chicago to the rising West. Two titans of American railroads set their sights on it: James J. Hill, head of the Great Northern and largest individual shareholder of the Northern Pacific, and Edward Harriman, head of the Union Pacific and the Southern Pacific. The subsequent contest was unprecedented in the history of American enterprise, pitting not only Hill against Harriman but also Big Oil against Big Steel and J. P. Morgan against the Rockefellers, with a supporting cast of enough wealthy investors to fill the ballroom of the Waldorf Astoria.

The story, told here in full for the first time, transports us to the New York Stock Exchange during the unfolding of the earliest modern-day stock market panic. Harriman vs. Hill re-creates the drama of four tumultuous days in May 1901, when the common stock of the Northern Pacific rocketed from one hundred ten dollars a share to one thousand in a mere seventeen hours of trading—the result of an inadvertent “corner” caused by the opposing forces. Panic followed and then, in short order, a calamity for the “shorts,” a compromise, the near-collapse of Wall Street brokerages and banks, the most precipitous decline ever in American stock values, and the fastest recovery. Larry Haeg brings to life the ensuing stalemate and truce, which led to the forming of a holding company, briefly the biggest railroad combine in American history, and the U.S. Supreme Court ruling against the deal, launching the reputation of Justice Oliver Wendell Holmes as the “great dissenter” and President Theodore Roosevelt as the “trust buster.”

The forces of competition and combination, unfettered growth, government regulation, and corporate ambition—all the elements of American business at its best and worst—come into play in the account of this epic battle, whose effects echo through our economy to this day.

Over the course of his career, British writer Aldous Huxley (1894-1963) shifted away from elitist social satires and an atheistic outlook toward greater concern for the masses and the use of religious terms and imagery. This change in Huxley's thinking underlies the previously unpublished play Now More Than Ever.

Written in 1932-1933 just after Brave New World, Now More Than Ever is a response to the social, economic, and political upheavals of its time. Huxley's protagonist is an idealistic financier whose grandiose schemes for controlling the means of production drive him to swindling and finally to suicide. His fate allows Huxley to expose the evils he perceives in free-market capitalism while pleading the case for national economic planning and the rationalization of Britain's industrial base.

This volume contains the full text of Now More Than Ever, which was believed to be lost until 1976, when a copy was found at the Harry Ransom Humanities Research Center of the University of Texas at Austin. A "thinker's play" that has never been produced on stage, it is the last previously unpublished piece of Huxley's major writings and immensely important to understanding his development as a writer. The editors of this volume have annotated the play for contemporary readers. Their introduction sets the play in the context of Huxley's intellectual life.

A skillful and fascinating retelling of the often testy relationship between J. P. Morgan and Roger Fry, two men who did more to establish the preeminence of the Metropolitan Museum of Art than any collector and curator before or since.

Shortly after the turn of the twentieth century, the Metropolitan Museum of Art began an ambitious program of collection building and physical expansion that transformed it into one of the world’s foremost museums, an eminence that it has maintained ever since. Two men of singular qualities and accomplishments played key roles in the Met’s transformation—J. P. Morgan, America’s leading financier and a prominent art collector, and Roger Fry, the headstrong English expert in art history who served as the Met’s curator of painting. Their complicated, often contentious relationship embodies and illuminates the myriad tensions between commerce and art, philanthropists and professional staff, that a great museum must negotiate to define and fulfill its mission.

In this masterful, multidisciplinary narrative, Charles Molesworth offers the first in-depth look at how Morgan and Fry helped to mold the cultural legacy of masterpieces of painting and the development of the “encyclopedic” museum. Structuring the book as a joint biography, Molesworth describes how Morgan used his vast wealth to bring European art to an American citizenry, while Fry brought high standards of art history from the world of connoisseurs to a general public. Their clashes over the purpose and functions of the Met, which ultimately led to Fry’s ouster, reveal the forces—personal and societal—that helped to shape the Metropolitan Museum and other major American cultural institutions during the twentieth century.

After the Revolution of 1910, a powerful group of Monterrey businessmen led by the Garza-Sada family emerged as a key voice of the Mexican private sector. The Monterrey Elite and The Mexican State is the first major historical study of the "Grupo Monterrey," the business elite that transformed Monterrey into a premier industrial center, the "Pittsburgh" of Mexico.

Drawing on archival resources in the United States and Mexico and the work of previous scholars, Alex Saragoza examines the origins of the Monterrey elite. He argues that a "pact" between the new state and business interests was reached by the 1940 presidential elections—an accord that paved the way for the "alliance for profits" that has characterized relations between the Mexican state and capitalists since that time.

More than a standard business history, this study delves into both the intimate social world of the Garza-Sadas and their allies and the ideas, beliefs, and vision of the Monterrey elite that set it apart from and often against the Mexican government. In so doing, The Monterrey Elite and the Mexican State reveals the underlying forces that led to the most historic battle between the private sector and the Mexican state: the dramatic showdown in 1936 between the Garza-Sadas and then President Lázaro Cárdenas in Monterrey, Nuevo León.