This episode features a conversation with Maryann Feldman and Martin Kenney, leading scholars on innovation, finance, and regional economic development, and co-authors of Private Equity and the Demise of the Local. Maryann is the Watts Professor of Public Policy and Management at Arizona State University and Research Director at the Global Center for Technology Transfer. Martin is a Distinguished Emeritus Professor at the University of California, Davis, and Senior Project Co-Director at the Berkeley Roundtable on the International Economy.
Together, Maryann and Martin discuss how private equity has evolved from a restructuring tool into a dominant ownership model shaping industries from manufacturing and healthcare to housing, childcare, and local media. They explore the mechanisms behind financialized ownership, the consequences for workers and communities, and why place-based ownership matters. The conversation also highlights emerging alternatives and what it will take to rebuild durable, locally rooted economies.