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Social Banking and Social Finance: Answers to the Economic Crisis

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For over 2,000 years, banks have served to facilitate the exchange of money and to provide a variety of economic and financial services. During the most recent financial collapse and subsequent recession, beginning in 2008, banks have been vilified as perpetrators of the crisis, the public distrust compounded by massive public bailouts. Nevertheless, another form of banking has also emerged, with a focus on promoting economic sustainability, investing in community, providing opportunity for the disadvantaged, and supporting social, environmental, and ethical agendas. Social Banking and Social Finance traces the emergence of the “bank with a conscience” and proposes a new approach to banking in the wake of the economic crisis. Featuring innovations and initiatives in banking from Europe, Canada, and the United States, Roland Benedikter presents an alternative to traditional banking practices that are focused exclusively on profit maximization. He argues that social banking is not about changing the system, but about improving some of its core features by putting into use the "triple bottom line" principle of profit-people-planet. Important lessons can be learned by the success of social banks that may be useful for the greater task of improving the global financial system and avoiding economic crises in the future.

 

 

Critical Acclaim for This Publication

 “This volume provides a description of social banking and social finance, their background in the history of ideas and their importance within the current globalized economy. It is not only an excellent didactical introduction, but also an entertaining and at the same time scientifically sound and differentiated explanation, which to my knowledge is so far unparalleled in English-speaking academia. I believe that the insights of this volume can have a progressive impact on the thinking about money and finance of the new generations, as well as the broader public in theUnited States and inEurope. I therefore consider this volume to be one step (among the many necessary) toward a realistic and sober rethinking of capitalism. Even if it is just a brief text and thus a small step, it is an important one. Because, as German philosopher Friedrich Nietzsche said, every long voyage starts with a brief first step. And this step, as compressed, simple and surprising as it may sometimes seem, may prove to be inspiring for those which come afterwards. I think that Benedikter’s volume is a valid response to the profound challenges arisen with the economic and financial crisis of 2007–2010. The solutions and perspectives it proposes are useful tools to help us to avoid further crises.”

-Professor Dr. Hans Christoph Binswanger, Chair Emeritus of National Economics, University St. Gallen, Switzerland, and former director of the Swiss Research Association on National Economics, Zürich 

 

“The recent crisis has shown that the time for more differentiated and just approaches to money and finance is ripe. I hope that with this outstanding didactical introduction oriented not primarily toward specialists, but to students and teachers, as well as to the broad public, the discussion about how we can move forward in making better use of money and finance will gain further momentum. This volume is an important contribution to broadening the financial literacy of our time.”

-Professor Dr. Udo Reifner, Department for Economics and Social Science, Hamburg University

 

“This is a clear and intense text. It has the advantage of summoning up some of the most important questions of current economics and finance in a short, easily  understandable and well-structured way. The reader is on the one hand provided insight into the main issues of today’s debate about the future of capitalism. On the other hand, she and he are informed about the ongoing (r)evolution in the banking and finance sector. The present change goes beyond the traditional reductionisms of the mainstream banking and finance sector. It starts to demonstrate how the creation of economic value on the one hand and a sustainable social and environmental development on the other hand can be integrated into one and the same approach. The international educational sector has to be grateful for this volume.”

-Professor Dr. Leonardo Becchetti, Department of Economics, Università Roma II “Tor Vergata, ”Italy 

 

“One of the first soundly scientific publications of its kind in English, this volume provides a complete overview over the contemporary field of social banking and social finance. Written in a short and easily understandable manner, it explains the history, the philosophy, the current state, and the perspectives of social banking and social finance in theUnited Statesand inEurope. This volume is an indispensable first entry for everybody who wants to know how we can deal with money in a better, sustainable way.” 

-Professor Dr. Ernst Ulrich von Weizsäcker, dean emeritus, Bren School of Environmental Science and Management, University of California at Santa Barbara, former policy director of the United Nations, Centre for Science and Technology for Development New York City, member of the Club of Rome, ordinary commissioner of the World Commission on the Social Dimensions of Globalization  

 

“Without need of prior knowledge, this volume is the ideal introduction to social banking and social finance for students and teachers. As a result of the economic crisis of 2007–2010, the request for a better handling of money and finance has increased on a global level. Social banking and social finance are answers that while not everybody must agree with them, they are worth to be known by everybody who wants to join the discussion on a well founded basis.”

-Professor Hanns-Fred Rathenow, director of the Institute of Social Sciences and Education in History and Politics, head of the Center for Global Education and International Cooperation, The Technical University of Berlin

 

“Social banking is a field of civil society engagement that has surfaced to international attention during the most recent financial crisis. This volume is an excellent introduction from a contemporary viewpoint. It departs from outlining the main traits of the economic crisis of 2007–2010, but its insights and teachings are not limited to it. This volume uses the crisis just as a starting point to explain how the financial system can move forward toward a more rational constellation of balance and inclusion. It is as unique as it is valuable.”

-Professor Dr. James Giordano, The Oxford Uehiro Centre for Practical Ethics, Oxford University, director of Academic Programs of The Potomac Institute for Policy Studies Arlington, Virginia

 

“I appreciate particularly the interdisciplinary and multilayered approach of this volume. It is one of the first English publications that transcends the limits of reducing social banking and social finance to ‘developmental aid’ for the so-called ‘developing world,’ or to simply identify it with approaches like ‘helping the poor’, like it has been done too often in the past. Instead, as this volume shows, social banking and social finance are more: They are about rationally and soberly innovating the system of capitalism, but without revolutionizing it. That is because social banks consider capitalism as a basic social good of modernity, that in the aftermath of the crisis has to be transformed into a ‘better’ capitalism which serves the greater society instead of benefiting just a few. The whole argumentation of this volume is about creating a broader range of options for the average bank customer in theUnited Statesand Europeand to make the use of capital more ‘humane,’ by serving the specific needs of the ‘real economy’ instead of abstract speculation. This volume, although short and concise, gives a quite realistic picture of the situation and its perspectives. The author finds the right balance between simplification, precision, and vision.”

-Professor Dr. Michael Opielka, Department of Social Welfare and Social Politics, The University of Applied Sciences Jena, Germany

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Towards Food Security in a Warmer World: Understanding Crop Responses to Climate

FSE Fellow David Lobell presented his work on climate impacts on crop production at the Donald Bren School of Environmental Science and Management, UC Santa Barbara, CA.

Donald Bren School of Environmental Science and Management, UC Santa Barbara, CA

David Lobell

Energy and Environment Building
473 Via Ortega
Stanford CA 94305

(650) 721-6207
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Professor, Earth System Science
Senior Fellow at the Freeman Spogli Institute for International Studies
Senior Fellow at the Stanford Woods Institute for the Environment
Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR)
Affiliate, Precourt Institute of Energy
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David Lobell is the Benjamin M. Page Professor at Stanford University in the Department of Earth System Science and the Gloria and Richard Kushel Director of the Center on Food Security and the Environment. He is also the William Wrigley Senior Fellow at the Stanford Woods Institute for the Environment, and a senior fellow at the Freeman Spogli Institute for International Studies (FSI) and the Stanford Institute for Economic Policy and Research (SIEPR).

Lobell's research focuses on agriculture and food security, specifically on generating and using unique datasets to study rural areas throughout the world. His early research focused on climate change risks and adaptations in cropping systems, and he served on the Intergovernmental Panel on Climate Change (IPCC) Fifth Assessment Report as lead author for the food chapter and core writing team member for the Summary for Policymakers. More recent work has developed new techniques to measure progress on sustainable development goals and study the impacts of climate-smart practices in agriculture. His work has been recognized with various awards, including the Macelwane Medal from the American Geophysical Union (2010), a Macarthur Fellowship (2013), the National Academy of Sciences Prize in Food and Agriculture Sciences (2022) and election to the National Academy of Sciences (2023).

Prior to his Stanford appointment, Lobell was a Lawrence Post-doctoral Fellow at Lawrence Livermore National Laboratory. He holds a PhD in Geological and Environmental Sciences from Stanford University and a Sc.B. in Applied Mathematics from Brown University.

Lobell Lab

A project to advance the science that guides investment in food security and crop productivity, and to effectively communicate this science to a broad audience.
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G-FEED: Global Food, Environment and Economic Dynamics

An interdisciplinary group working cooperatively to understand the relationship between society and the environment by examining regional and global scale phenomena using statistical analyses of real world data.
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Climate and Agriculture: Models, Impacts, and Adaptation Strategies
Prioritizing Investments in Food Security Under a Changing Climate

Emerging Land Issues in African Agriculture: Toward the identification of appropriate rural development strategies

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Thom Jayne, Professor of International Development from Michigan State University will answer the following questions: What are the trends in land access? How can smallholder farmers get higher value out of scarce land and how does that relate to food and non-food markets? Smallholder vs. large enterprises in Africa. Derek Byerlee, independent scholar and director of the 2009 World Development Report will provide additional commentary.

Thomas Jayne's professional career has been devoted to promoting effective policy responses to poverty and hunger in Africa. Jayne is Professor, International Development, in the Department of Agricultural, Food, and Resource Economics and a member of the Core Faculty of the African Studies Center at Michigan State University. He is involved in research, outreach, and capacity building programs in collaboration with African universities and government agencies, mainly focusing on food marketing and trade policies and their effects on sustainable and equitable development. Jayne's secondary research focus has been on measuring the current and long-term effects of HIV/AIDS on African agriculture. Jayne sits on the editorial boards of two development journals, received a top paper award in 2004 by the International Association of Agricultural Economists, co-authored a paper (with graduate student Jacob Ricker-Gilbert) awarded the T.W. Schultz Award at the 2009 International Association of Agricultural Economists Triennial Meetings, and received the 2009 Best Article Award in Agricultural Economics (with co-authors Xhying Xu, William Burke, and Jones Govereh). Jayne's work has also been recognized at the 1996 World Food Summit in Rome and the Secretariat of Global Agricultural Science Policy for the Twenty-First Century.

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Thom Jayne Professor of International Development Speaker Michigan State University
Derek Byerlee Independent Scholar and Director, World Development Report, 2009 Commentator
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Global Food Policy and Food Security Symposium Series

International Relations Theory and Cross-strait Relations

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In this special seminar event, Dr. Szu-yin Ho will examine the current Taiwan-China relations within the framework of international relations theory. He will elaborate how both sides of the Taiwan Strait perceive this relationship, what the implications for the building of new institutions are after President Ma Ying-jeou took office, and what kind of signals these new institutions have delivered. Dr. Ho will also give his concerns and predictions about the future relationship across the Taiwan Strait. In this special seminar, Professor Wei-chin Lee from Wake Forest University will comment on Dr. Ho's speech.

Szu-yin Ho is Professor of Political Science at the National Chengchi University. He received his BA degree (1978) in English Literature from National Taiwan University, MA (1983) and Ph.D. (1986) in Political Science from the University of California at Santa Barbara. After receiving doctoral degree, Professor Ho first joined the Academia Sinica, then moved to the Institute of International Relations, National Chengchi University, Taipei, Taiwan. He later served as the Deputy Director of the Institute from 1994 to 1999 and the Director from 1999-2003. From 2003 to 2008 he served as the Director of International Affairs of the KMT, Taiwan's current ruling party. After the presidential election in 2008, he moved to become the Deputy Secretary-General of the National Security Council in the Presidential Office, overseeing the country's foreign affairs. After two years of service in government, Mr. Ho went back to academia. Professor Ho specializes on international relations, comparative political economy, sampling survey, and Chinese politics. He had published books and articles, in both Chinese and English, along these lines of research.

Wei-chin Lee received his Ph.D. in Political Science from University of Oregon. He is Professor of Political Science at Wake Forest University in North Carolina. He has published several books, including the latest edited volume on Taiwan's Politics in the 21th Century (2010). His articles have appeared in various scholarly journals. His teaching and research interests include foreign policy and domestic politics of China and Taiwan, US policy toward East Asia, international security, and international institutions. He is currently serving as an advisor to the Taiwan Benevolent Association of America.

This is a special event cosponsored by CDDRL and Taiwan Benevolent Association of  America.

Frances C. Arrillaga Alumni Center

Szu-yin Ho Professor Speaker National Chengchi University, Taiwan

Larry Diamond

CDDRL
Stanford University
Encina Hall, C147
616 Jane Stanford Way
Stanford, CA 94305-6055

(650) 724-6448 (650) 723-1928
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Mosbacher Senior Fellow in Global Democracy at the Freeman Spogli Institute for International Studies
William L. Clayton Senior Fellow at the Hoover Institution
Professor, by courtesy, of Political Science and Sociology
diamond_encina_hall.png MA, PhD

Larry Diamond is the William L. Clayton Senior Fellow at the Hoover Institution, the Mosbacher Senior Fellow in Global Democracy at the Freeman Spogli Institute for International Studies (FSI), and a Bass University Fellow in Undergraduate Education at Stanford University. He is also professor by courtesy of Political Science and Sociology at Stanford, where he lectures and teaches courses on democracy (including an online course on EdX). At the Hoover Institution, he co-leads the Project on Taiwan in the Indo-Pacific Region and participates in the Project on the U.S., China, and the World. At FSI, he is among the core faculty of the Center on Democracy, Development and the Rule of Law, which he directed for six and a half years. He leads FSI’s Israel Studies Program and is a member of the Program on Arab Reform and Development. He also co-leads the Global Digital Policy Incubator, based at FSI’s Cyber Policy Center. He served for 32 years as founding co-editor of the Journal of Democracy.

Diamond’s research focuses on global trends affecting freedom and democracy and on U.S. and international policies to defend and advance democracy. His book, Ill Winds: Saving Democracy from Russian Rage, Chinese Ambition, and American Complacency, analyzes the challenges confronting liberal democracy in the United States and around the world at this potential “hinge in history,” and offers an agenda for strengthening and defending democracy at home and abroad.  A paperback edition with a new preface was released by Penguin in April 2020. His other books include: In Search of Democracy (2016), The Spirit of Democracy (2008), Developing Democracy: Toward Consolidation (1999), Promoting Democracy in the 1990s (1995), and Class, Ethnicity, and Democracy in Nigeria (1989). He has edited or coedited more than fifty books, including China’s Influence and American Interests (2019, with Orville Schell), Silicon Triangle: The United States, China, Taiwan the Global Semiconductor Security (2023, with James O. Ellis Jr. and Orville Schell), and The Troubling State of India’s Democracy (2024, with Sumit Ganguly and Dinsha Mistree).

During 2002–03, Diamond served as a consultant to the US Agency for International Development (USAID) and was a contributing author of its report, Foreign Aid in the National Interest. He has advised and lectured to universities and think tanks around the world, and to the World Bank, the United Nations, the State Department, and other organizations dealing with governance and development. During the first three months of 2004, Diamond served as a senior adviser on governance to the Coalition Provisional Authority in Baghdad. His 2005 book, Squandered Victory: The American Occupation and the Bungled Effort to Bring Democracy to Iraq, was one of the first books to critically analyze America's postwar engagement in Iraq.

Among Diamond’s other edited books are Democracy in Decline?; Democratization and Authoritarianism in the Arab World; Will China Democratize?; and Liberation Technology: Social Media and the Struggle for Democracy, all edited with Marc F. Plattner; and Politics and Culture in Contemporary Iran, with Abbas Milani. With Juan J. Linz and Seymour Martin Lipset, he edited the series, Democracy in Developing Countries, which helped to shape a new generation of comparative study of democratic development.

Download full-resolution headshot; photo credit: Rod Searcey.

Former Director of the Center on Democracy, Development and the Rule of Law
Faculty Chair, Jan Koum Israel Studies Program
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<i> The Shah </i> book launch with Dr. Abbas Milani

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Dr. Abbas Milani, Director of Iranian Studies at Stanford University, co-director of the Iran Democracy Project at the Hoover Institution, and CDDRL affiliated faculty has just published his latest book, The Shah, released by Palgrave Macmillan this month.

The 496 page memoir details the life and legacy of the last Shah of Iran, Mohammad Reza Pahlavi, providing an authoritative account of his 37-year rule marked by forced modernization, political consolidation, and personal over-indulgence that drove his country into the throes of Islamic fundamentalism. Milani's biography sheds new light on the mercurial Shah through the examination of recently declassified materials and interviews, which provide intimate details of a monarch and his relationship to the West. To fully grasp Iran's potential for democratic reform today we must first examine its past. The Shah brings us closer to that understanding.

Prior to coming to Stanford, Milani was a professor of history and political science and chair of the department at Notre Dame de Namur University and a research fellow at the Institute of International Studies at the University of California at Berkeley. Milani was an assistant professor in the faculty of law and political science at Tehran University and a member of the board of directors of Tehran University's Center for International Studies from 1979 to 1987. He was a research fellow at the Iranian Center for Social Research from 1977 to 1978 and an assistant professor at the National University of Iran from 1975 to 1977.

Dr. Milani is the author of Eminent Persians: Men and Women Who Made Modern Iran, 1941-1979, (Syracuse University Press, Syracuse, NY, 2 volumes, November, 2008); King of Shadows: Essays on Iran's Encounter with Modernity, Persian text published in the U.S. (Ketab Corp., Spring 2005); Lost Wisdom: Rethinking Persian Modernity in Iran, (Mage 2004); The Persian Sphinx: Amir Abbas Hoveyda and the Riddle of the Iranian Revolution (Mage, 2000); Modernity and Its Foes in Iran (Gardon Press, 1998); Tales of Two Cities: A Persian Memoir (Mage 1996); On Democracy and Socialism, a collection of articles coauthored with Faramarz Tabrizi (Pars Press, 1987); and Malraux and the Tragic Vision (Agah Press, 1982). Milani has also translated numerous books and articles into Persian and English.

Milani received his BA in political science and economics from the University of California at Berkeley in 1970 and his PhD in political science from the University of Hawaii in 1974.

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Language Corner, Building 260
PIGOTT HALL, Room 113

Abbas Milani

615 Crothers Way,
Encina Commons, Room 128A
Stanford University
Stanford, CA 94305

(650) 721-4052
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Research Fellow, Hoover Institution
abbas_milani_photo_by_babak_payami.jpg PhD

Abbas Milani is the Hamid and Christina Moghadam Director of Iranian Studies at Stanford University and a visiting professor in the department of political science. In addition, Dr. Milani is a research fellow and co-director of the Iran Democracy Project at the Hoover Institution.

Prior to coming to Stanford, Milani was a professor of history and political science and chair of the department at Notre Dame de Namur University and a research fellow at the Institute of International Studies at the University of California at Berkeley. Milani was an assistant professor in the faculty of law and political science at Tehran University and a member of the board of directors of Tehran University's Center for International Studies from 1979 to 1987. He was a research fellow at the Iranian Center for Social Research from 1977 to 1978 and an assistant professor at the National University of Iran from 1975 to 1977.

Dr. Milani is the author of Eminent Persians: Men and Women Who Made Modern Iran, 1941-1979, (Syracuse University Press, Syracuse, NY, 2 volumes, November, 2008); King of Shadows: Essays on Iran's Encounter with Modernity, Persian text published in the U.S. (Ketab Corp., Spring 2005); Lost Wisdom: Rethinking Persian Modernity in Iran, (Mage 2004); The Persian Sphinx: Amir Abbas Hoveyda and the Riddle of the Iranian Revolution (Mage, 2000); Modernity and Its Foes in Iran (Gardon Press, 1998); Tales of Two Cities: A Persian Memoir (Mage 1996); On Democracy and Socialism, a collection of articles coauthored with Faramarz Tabrizi (Pars Press, 1987); and Malraux and the Tragic Vision (Agah Press, 1982). Milani has also translated numerous books and articles into Persian and English.

Milani received his BA in political science and economics from the University of California at Berkeley in 1970 and his PhD in political science from the University of Hawaii in 1974.

Hamid and Christina Moghadam Director of Iranian Studies
Co-director of the Iran Democracy Project
CDDRL Affiliated Scholar
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Abbas Milani Hamid and Christina Moghadam Director of Iranian Studies; Visiting Professor in the department of Political Science; Co-director of the Iran Democracy Project; CDDRL Affiliated Faculty Speaker
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Historical Sociology of Japanese Capitalism: Uncertainty, Justification, and Multiple Embeddings of Socio-Cultural Institutions

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As a sociologist who works on the conjunction and conflicts between political, economic and cultural-cognitive networks, Eiko Ikegami has been conducting research on long-term social processes that underlie and perpetuate modern Japanese social
relations with a number of different topics. It is from this long-term view point, that Ikegami offers a distinctive angle to articulate the grave difficulties that contemporary Japanese capitalism is facing. She expresses the social significance of the current radical transformation of Japanese capitalism as a historic turning point in redirecting institutions of Japanese trust and justification. For example, she investigates developments in popular consciousness of egalitarian views that clung to the myth that "we all are in the middle strata" and of distinctive gender roles closely linked to the particular style of Japanese capitalism. Ikegami considers these institutional transformations not only as a postwar product, but in a critical way as the result of path dependent developments of institutionalization and deinstitutionalization for more than a century. Using keywords such as uncertainty, networks, trust, and justification, her talk will present a bold synthesis that outlines the long-term process of institutionalization that produces mutually connected socio-cultural-cognitive systems in which the distinctive Japanese style of capitalism has been embedded.

Born and raised in Japan, Eiko Ikegami was a journalist for the Japan Economic Journal (Nikkei or Nihonkeizai Shinbun) before she moved to the US. Ikegami is currently Professor and Chair of the Sociology Department at the New School for Social Research in New York. Ikegami's book, The Taming of the Samurai: Honorific Individualism and the Making of Modern Japan (Harvard University Press, 1995), has been translated into Spanish, Korean, and Japanese, and is widely considered the definitive statement on the subject. Bonds of Civility: Aesthetic Networks and the Political Origins of Japanese Culture (Cambridge University Press, 2005), won five book awards in various fields including the Distinguished Contribution Book award in Political Sociology from the American Sociological Association, and the John Hall Book Prize from the Association for Asian Studies, which cited the work as "the most important book on Japan to have appeared in recent years." In 2003, Ikegami was elected Chair of the Comparative and Historical Sociology Section of the ASA.

Her core research interest has been related to the question: How did a non-Western society such as Japan achieve its own version of modernity without traveling the route taken by Western countries? More recently, Ikegami has been working on three distinct areas of research: a project on trust and uncertainty in Japanese capitalism; the completion of a book project on the Gion Festival, Community, Gender, and Shrine in Kyoto; and, funded by the National Science Foundation, Ikegami currently leads a team of one dozen graduate students in conducting ethnographic research of online communities using 3-D virtual worlds in Japan and in the U.S. Ikegami’s theoretical interests uniquely combine culture and network concepts with the literature of civil society, which has prompted an initiative in the form of a series of workshops in Paris (Sciences Po) and New York, to study the trajectories of civil societies in non-western settings.

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Eiko Ikegami Professor and Chair, Sociology Department Speaker New School for Social Research
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Shorenstein APARC Winter Quarter Japan Seminar Series

Jonathan Zittrain on minds for sale

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The first Liberation Technology seminar of the winter quarter on January 6, featured Jonathan Zittrain, Professor of Law at Harvard Law School and co-founder of the Berkman Center for Internet & Society at Harvard University. Zittrain focused his talk entitled, Minds for Sale, on the variety of online platforms that harness the wisdom of crowds today, and closed with a discussion of the implications of these platforms. Categorizing these new tools by the breadth of their user base, Zittrain began by describing the platforms that pay the most money per task, require the most skill, and subsequently have the least participation. Key examples of these platforms are listed below, and organized by their decreasing level on skill.

  •  Xprize Foundation attempts to prompt radical breakthroughs through competitions for large quantities of prize money.
  • InnoCentive creates a marketplace between engineers and scientists to encourage innovation.
  • LiveOps, which bills itself as a contact center cloud, has developed a large set of independent contractors who are designated specific tasks when they sign in to the site. They may be assigned to answer calls placed to a restaurant or emergency hotline or to make political calls on behalf of Liveops clients.
  • Samasource offers "dignified digital work for women, children and refugees" located in developing countries.
  • Amazon Mechanical Turk (also known as Artificial Artificial Intelligence) allows users to participate in anonymous, minimally paid tasks. These tasks can be submitted by any party and are highly disaggregated among hundreds or thousands of users, each of whom receives a payout of between approximately one to fifteen cents for completing the task.
  • Soylent, which calls itself "a word processor with a crowd inside" embeds workers from Mechanical Turk into Microsoft Word. When users install the site's Shortn add-in into Microsoft Word, they can use the tool to have written samples shortened in two minutes. In order to achieve this, the written sample is disaggregated by paragraphs, and each paragraph is shortened within two minutes by a "Turker"-a user who accepts the task on Mechanical Turk.
  • Microtask enables disaggregating previously sensitive data to be work processed from a scanned image. The ultimate goal of this group is to put distributed work into video and computer games. For now, they disaggregate larger tasks into two-second tasks that can be distributed across a crowd.
  • Games With A Purpose (GWAP) has a game-like platform designed to get users to complete disaggregated tasks for virtual points, rather than for actual remuneration. One of its more popular activities quickly attracted 23,000 players who contributed 4.1 million labels to images they were presented with in The ESP Game. Many players routinely play more than 20 hours a week.

Next, Zittrain moved on to offer some additional examples, hypothetical scenarios and questions that highlight some of his own concerns about the potential of these technologies. One key question is whether this market may be too efficient at linking up solvers and payers, if certain tasks are not in fact beneficial for society. After all, it was highly contentious when Texas governor Rick Perry set up video cameras on Texas' border with Mexico and invited people to watch the video feeds and report if they saw anything suspicious. Similarly, a site called InternetEyes allows users to watch video feed from CCTV cameras in the UK for free, offering the chance to "earn reward money, have a chance at reducing crime, and potentially become a hero and save lives," instead of actual compensation.

In another example, the University of Colorado Police Department recently offered a $50 reward for identification of students shown to be smoking marijuana in photos from a large April 20 gathering. Hypothetically, the Iranian government could use Turkers to identify Iranian protestors through national ID photographs in the very same way; by Zittrain's calculations, this task could be disaggregated and carried out quickly at a cost of only $17,000 per protester identified.

Another cluster of issues relates to the use of anonymous users to carry out disaggregated tasks that may have the effect of exerting influence on others. For example, Turkers were recently offered the opportunity to write a positive 5 out of 5 review for a product on a website, which hundreds accepted and completed for a few cents at a time. Users on SubvertandProfit.com are paid to "Like" something on Facebook, "Digg" something, or show their approval of a site or product via some other social network. The users are remunerated for their effort, and the site also profits. Taking this a step further, these platforms also enable users to pay people to evince opinions on legislative issues they do not actually care about. For example, health insurers were recently caught paying Facebook gamers virtual currency to oppose the health reform bill. By enabling any task to be disaggregated and monetized, these new platforms can have highly controversial and unethical implications.

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How Special is the Special Relationship between China and North Korea?: A Personal Experience

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Professor Chong Wook Chung will discuss Sino-Korean relations based on his experience working for the Korean government in Seoul and in Beijing. He will also interpret current developments in the trianglular relationship between Pyongyang, Seoul, and Beijing.

Professor Chung, a former ambassador to the People's Republic of China, is a distinguished professor at Dong-A University in Korea, and is currently teaching a course on Korea and East Asia in the Department of Government at Harvard University as the inaugural Kim Koo Visiting Professor. He has taught at many universities including American University, Claremont McKenna College, George Washington University, and Seoul National University. His book-length English publications include the book Maoism and Development (Seoul National University Press, 1980), and the co-edited volume Korea's Options in a Changing World (UC Berkeley Press, 1992).

Professor Chung holds a B.A. in International Relations from Seoul National University and a Ph.D. in Political Science from Yale University. He was awarded the Yale Alumni Award in 2007.

This seminar is made possible by the generous support from the Koret Foundation.

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Chong Wook Chung Kim Koo Visiting Professor, Department of Government, Harvard University Speaker
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Korean Studies Colloquium Series
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