Sandra Navidi - SuperHubs - How the Financial Elite and Their Networks Rule our World

PRAISE FOR $UPERHUBS

“In $uperHubs, Ms. Navidi skillfully applies network science to the global financial system and the human networks that underpin it. $uperHubs is a topical and relevant book that should be read by anyone seeking a fresh perspective on the human endeavor that is our financial system.”

—PROFESSOR LAWRENCE H. SUMMERS, Harvard; former US Secretary of the Treasury, former Director of the US National Economic Council, former president of Harvard University, and author

“Sandra Navidi’s book $uperHubs is beautifully and effectively done. Not only is it a fascinating description of the power wielded by elite networks over the financial sector, it is also a meditation on the consequences of this system for the economy and the society. In recent times, we have seen extraordinary ruptures—notably Britain’s vote to break away from the European Union and the intensified sense of exclusion felt by much of America’s working class. The last chapter of $uperHubs proposes that this ruling system's “monoculture,” its isolation from the rest of society, and its seeming unawareness of the fragility of what it has built are largely responsible for these ruptures, and that the system may lead to a major crisis in the future.”

—PROFESSOR EDMUND S. PHELPS, Columbia University, 2006 Nobel Prize in Economics; Director, Center on Capitalism and Society, and author

“$uperHubs is a book written with great style but also containing a lot of important substance. The style is so engaging, a real page turner, that I finished it in one non-stop session. But the substance of Navidi’s text is no less compelling. Unlike many, she does not see the global economy as a predictable machine in the competent hands of policymakers, but rather as a complex, adaptive system prone to catastrophic breakdowns and rising inequality. Further, she situates the financial system at the very core of this economy where a concentrated number of real human beings—the “superhubs”—exercise an unrecognized degree of economic and political power. The values of these people, the networks they maintain, and their resistance to constructive change are crucial components threatening the future stability of the economy and even our democratic political systems. By identifying these systemic problems, Navidi brings us one step closer to appropriate solutions. A “must read,” and a pleasure to do so.”

—WILLIAM R. WHITE, Chairman of the Economic and Development Review Committee (EDRC) at the OECD; former Executive Committee Member, Head of the Monetary and Economic Department, and Economic Adviser at the Bank for International Settlements (BIS); former Deputy Governor of the Bank of Canada, and author

“In $uperHubs, Sandra Navidi provides exceedingly illuminating professional and personal insights into the global financial system. She illustrates its structures, interconnections, and inner workings with great expertise and consistent logic. Her analysis is balanced. She critically examines the implications of the increasing interconnections of decision-makers in the financial system and their concentration of power. Of particular benefit is that the book is easy to understand, making it also enjoyable to readers without any prior knowledge. Numerous references allow for further immersion. The thought-provoking impulses make $uperHubs highly recommended reading.”

—PROFESSOR JÜRGEN STARK, former Chief Economist and former Executive Board Member of the European Central Bank and former Vice President of the Bundesbank

“Superhubs—what a clever concept! In $uperHubs, Sandra Navidi impresses with a masterful piece of both reporting and analysis.”

—PROFESSOR KLAUS SCHWAB, Founder and Chairman of the World Economic Forum, and author

“How are we governed? By whom and how? These are the classic questions to which globalization and the financial markets have given a new urgency. $uperHubs provides a front row seat in the theater of fundamental change.”

—OLAFUR RAGNAR GRIMSSON, President of Iceland 1996̵2016

“Today’s complex and challenging environment requires a fresh approach towards addressing key issues. In her book $uperHubs, Sandra has pointed out the interplay between economic, geopolitical, financial, and human development challenges. She highlights the linkages between key elements of change, which—if well managed and coordinated—can be powerful drivers for growth, and profitability. $uperHubs is an analytical, engaging, and insightful guide for business leaders in markets which are global, dynamic, and complex. It is a must-read for all who are striving for growth and excellence!”

—HIS EXCELLENCY, MR. SHAUKAT AZIZ, former Prime Minister and Finance Minister of Pakistan, former CEO of Citibank Global Wealth Management, and author

“In $uperHubs, Sandra Navidi provides an entertaining and absorbing portrayal of the networks used by many of the top executives in finance. She has a unique set of perceptions of how certain elements of that world work. She describes examples taken from meetings in Switzerland at the World Economic Forum and traces relationships and their network effects on a broader basis. She draws many useful conclusions and provides terrific portraits of some of the major players in finance today.”

—STEPHEN A. SCHWARZMAN, Chairman,

CEO, and Cofounder of Blackstone

“An expert tour guide, Ms. Navidi helps us understand the mechanisms that drive our global financial system by ultimately telling a human story of how a select few wield incredible financial and political power. $uperHubs is a substantive book with just the right balance of research and stories to make it an entertaining and satisfying read.”

—THE HONORABLE GEORGETTE MOSBACHER,

Entrepreneur, and author

“$uperHubs is an engaging and provocative analysis of how super-empowered individuals and their powerful networks shape the financial system in ways that are potentially perilous. It is as rich in its narrative as it is in its corroborating research. Based on the premise that the financial world is a complex, self-organizing system, Navidi makes the case that these individuals’ actions collectively cause complexity and—if unchecked—could lead to the system’s breakdown. $uperHubs is a must-read for anyone seeking to fathom global finance and untangle the role of its leading players.”

—FREDERICK KEMPE,

President and CEO, Atlantic Council, and author

“In $uperHubs, Sandra Navidi raises a fascinating question: Who are the captains of global society, and how did they earn this privilege? In particular, Navidi details the links between influence within today’s global financial system and power. She applies social science to behind-the-scenes interactions at some of the financial world’s most exclusive events to paint a compelling portrait of the industry and offer readers new insight into those with the power to quickly change the world.”

—IAN BREMMER, President and Founder of Eurasia Group, and author

“$uperHubs shines a light on our financial world and the tremendously powerful titans who are in charge of it. With vivid narratives and systems thinking, Sandra Navidi effortlessly connects the dots between people, institutions and events. Her conclusions demonstrate the systemic pitfalls and potential improvements. I highly recommend this fun and very useful book!”

—ANTHONY SCARAMUCCI, founder and co-managing partner of SkyBridge Capital, host of Wall Street Week, and author

“Since finance plays an unprecedented role in today’s world order, the crucial question is how its leaders connect and interact while they assume the responsibility for an entire system. By exploring the financial world as a highly complex and powerful human system, Sandra Navidi’s book shares a fascinating look behind the scenes of these influential networks, providing expert insight into their mechanisms. In an increasingly digitalized world, human interaction remains at the core of the global finance system. $uperHubs offers a balanced analysis of the system’s driving forces and raises controversial issues regarding the far-reaching impact of a few all-powerful individuals, addressing the fundamental aspects of the complex human dynamics ruling finance and the world. A spirited and riveting book that makes for an intriguing read.”