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Originally broadcast at 10:45 a.m. ET Wednesday, July 23, 2025 Mihir A. Desai is the Mizuho Financial Group Professor of Finance at Harvard Business School and a professor of law at Harvard Law School. He joins Chautauqua’s week on “Innovation in Capitalism: How to Respond to 21st-Century Challenges?” with an examination of financial markets — particularly how recent years have seen much different results than what market watchers might have typically expected, and what that says for the immediate and long-term future. Desai's areas of expertise include tax policy, international finance, and corporate finance, and his academic publications have appeared in leading economics, finance and law journals. His work has emphasized the appropriate design of tax policy in a globalized setting, the links between corporate governance and taxation, and the internal capital markets of multinational firms. His research has been cited in The Economist, BusinessWeek, The New York Times and several other publications. He is a research associate in the National Bureau of Economic Research's Public Economics and Corporate Finance Programs, and served as the co-director of the NBER's India program. Desai’s general interest publications include opinion pieces on varied topics, including tax policy and the effects of globalization on domestic welfare, in The Washington Post, The Wall Street Journal, Tax Notes and The New York Times. He has also written for practitioners in the Harvard Business Reviewon the role of the global CFO, on how to reform the U.S. tax system, and how changing incentive systems have contributed to the degradation of American competitiveness. He has testified several times to Congressional bodies, including most recently to the Senate Finance Committee on corporate tax reform and inversions. -- ► Join CHQ Assembly to enjoy member perks / @chautauquainstitution -- Like CHQ on Facebook: / chq1874 Follow CHQ on Instagram: / chq1874 -- As a not-for-profit organization, all of Chautauqua Institution's programs and offerings are made possible by philanthropy. We welcome your support and engagement! Visit giving.chq.org to make a gift.