New Books In Economics

In this episode, Dr. Shahar Hameiri and Dr. Lee Jones discuss the political economy and financing behind global infrastructure development, with a focus on China’s Belt and Road Initiative (BRI). The discussion explores the driving forces behind Chinese infrastructure investment, while addressing the crucial question of why American and European initiatives such as Global Gateway and the Program for Global Infrastructure and Investment struggle to compete with the BRI. We discuss dynamics of public and private finance, the role of public-private partnerships, and the challenges private investors face. Importantly, this episode reveals the U.S. Development Finance Corporation’s increasing reliance on private capital, and the decline of the construction sector in the U.S. economy. This comprehensive view shows how different financing and development models shape the global infrastructure landscape, how infrastructure development has evolved into its current state, and novel fields of competition, such as unders

In this deeply researched and compelling narrative, journalist Mara Kardas-Nelson examines the complex history and impact of microfinance - the practice of giving small loans to poor people, particularly women, that was once hailed as a revolutionary solution to global poverty. Through intimate portraits of borrowers in Sierra Leone and extensive interviews with key figures in the microfinance movement, Kardas-Nelson reveals how an idea that began with noble intentions became a multi-billion dollar industry with sometimes devastating consequences for the very people it aimed to help. We Are Not Able to Live in the Sky: The Seductive Promise of Microfinance (Metropolitan Books, 2024) weaves together two parallel narratives: the stories of women in Sierra Leone struggling with high-interest microloans while trying to support their families, and the history of how microfinance evolved from a small experiment into a global phenomenon championed by the likes of Hillary Clinton and Muhammad Yunus. Through careful r

So many talented young people receive a great education and set out to make a difference in the world. Yet, they often find the global institutions on that path difficult to understand, hard to get into, and even harder to navigate. Emiliana Vegas provides a deeply personal and informative guide to building a career in international development for current and aspiring changemakers. Let's Change the World: How to Work within International Development Organizations to Make a Difference (Rowman & Littlefield, 2024) dives into the key lessons and specific takeaways the author has learned throughout her twenty years working in international development organizations. Vegas's passion for the power of education comes through on every page of this book and now she is sharing what she has learned to help others achieve the same success. Through insider tips, best practices, and targeted advice, readers will come away with a clear picture of how these organizations really work, how you can get in and thrive, and how t

Following the Great Depression, as the world searched for new economic models, Brazil and Portugal experimented with corporatism as a “third path” between laissez-faire capitalism and communism. In a corporatist society, the government vertically integrates economic and social groups into the state so that it can manage labor and economic production. In the 1930s, the dictatorships of Getúlio Vargas in Brazil and António de Oliveira Salazar in the Portuguese Empire seized upon corporatist ideas to jump-start state-led economic development. In A Third Path: Corporatism in Brazil and Portugal (Princeton University Press, 2024), Dr. Melissa Teixeira examines these pivotal but still understudied initiatives. What distinguished Portuguese and Brazilian corporatism from other countries’ experiments with the mixed economy was how Vargas and Salazar dismantled liberal democratic institutions, celebrating their efforts to limit individual freedoms and property in pursuit of economic recovery and social peace. By traci

Peoples & Things host, Lee Vinsel, talks with Salem Elzway, postdoctoral fellow in the Society of Fellows in the Humanities at University of Southern California, and Jason Resnikoff, assistant professor of contemporary history at the University of Groningen, about the history of automation. The discussion takes as its launching point an essay Elzway and Resnikoff published in the journal Labor titled, “Whence Automation?: The History (and Possible Futures) of a Concept.” The conversation approaches the history of automation and how to study it from a number of angles, including diving into Elzway’s and Resnikoff’s individual research agendas, as well as discussion of the nature of collaborative work in history, a field that can sometimes be all-too competitive and turf-like. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Oil is everywhere. It’s in our cars, it’s in the fertilizer used to grow our food, and it’s in the plastics used to produce and transport our consumer goods, to name just a few prominent uses. How did oil come to occupy its central position in the world economy? How did corporate power shape the uptake, pricing, and distribution of oil and petrochemicals? And how have changes in oil markets affected broader trends in the global economy? In Crude Capitalism: Oil, Corporate Power, and the Making of the World Market (Verso, 2024), my guest Adam Hanieh tackles all of these questions by tracing the history and diverse geographies of oil. His narratives weaves together links between oil, geopolitics, high finance, the evolution of corporate organization, and the environment. Adam Hanieh is Professor of Political Economy and Global Development at the University of Exeter in the UK. He is currently a Distinguished Visiting Professor at Tsinghua University in Beijing. He is previous books are Lineages of Revolt (2013)

This is episode two Cited Podcast’s new season, the Use & Abuse of Economic Expertise. This season tells stories of the political and scholarly battles behind the economic ideas that shape our world. For a full list of credits, and for the rest of the episodes, visit the series page. This episode looks at shifting landscape of economic thinking within the Democratic Party. First, historian Lily Geismer, author of Left Behind: The Democrats’ Failed Attempt to Solve Inequality, tells us the story of how the Democrats became captured by the Clintonian ‘Third Way.’ The Third Way argued that economic policy should move away from the sunset industries, like the unionized industrial labour that typically made the Democratic base, and move towards the sunrise industries of tech and finance. Then, the Biden team came to see this thinking as precipitating the rise of Trumpism. So free-wheeling trade and industrial policy is out, and the Clinton-era neoliberal consensus just is not a consensus anymore–some even claim ne

From the emergence of money in the ancient world to today’s interconnected landscape of high-frequency trading and cryptocurrency, the story of finance has always taken place on an international stage. Finance is one of the most globalized and networked of human activities, and one of the most important social technologies ever invented. Atlas of Finance: Mapping the Global Story of Money (Yale University Press, 2024) by Dr. Dariusz Wójcik is the first visually based book dedicated to finance and uses graphics and maps to bring the complex and abstract world of finance down to earth, showing how geography is fundamental for understanding finance, and vice versa. It illuminates the people—including Adam Smith, Karl Marx, and John Maynard Keynes—who have shaped our thinking about global finance; brings to life the ways that place-specific histories, laws, regulations, and institutions influence finance; shows how finance relates to innovation, globalization, and environmental change; and details how finance pla

Are financial markets lawless and irrational? It may seem that way from the outside, but for market insiders there are multiples sets of rules that they break at their peril.  Official rules set by law or by the exchanges exist alongside unofficial rules, or floor rules. Between these, it is the floor rules -- the norms followed by other insiders -- that matter most. Breaking an official rule might lead to a fine or even jail. Breaking floor rules can lead to being ostracized from markets as well as social and financial ruin. In Floor Rules: Insider Culture in Financial Markets (Yale UP, 2024), Mark W. Geiger tells compelling stories of market disturbances in which insider rules played a key role. He examines the norms, customs, values, and operating modes of insiders at the center of financial markets that trade money, stocks, bonds, futures, and other financial derivatives. These core insiders are a relatively small group who govern the markets.  The book tells the riveting story of Benjamin Hutchinson, wh

At a time when critiques of free trade policies are gaining currency, The Neomercantilists: A Global Intellectual History (Cornell UP, 2021) helps make sense of the protectionist turn, providing the first intellectual history of the genealogy of neomercantilism. Eric Helleiner identifies many pioneers of this ideology between the late eighteenth and early twentieth centuries who backed strategic protectionism and other forms of government economic activism to promote state wealth and power. They included not just the famous Friedrich List, but also numerous lesser-known thinkers, many of whom came from outside of the West. Helleiner's novel emphasis on neomercantilism's diverse origins challenges traditional Western-centric understandings of its history. It illuminates neglected local intellectual traditions and international flows of ideas that gave rise to distinctive varieties of the ideology around the globe, including in Latin America, the Caribbean, Africa, and Asia. This rich history left enduring inte

Economics sometimes feels like a physics–so sturdy, so objective, and so immutable. Yet, behind every clean number or eye-popping graph, there is usually a rather messy story, a story shaped by values, interests, ideologies, and petty bureaucratic politics. In Cited Podcast’s new mini-series, the Use and Abuse of Economic Expertise, we tell the hidden stories of the economic ideas that shape our world. For future episodes of our series, and a full list of credits, visit our series page. On episode one, we begin at the beginning: the invention of the modern economy, or at least the idea of the economy. It starts with one measure: the GDP, or gross domestic product. It’s a measure that comes to define what we mean by ‘the economy.’ Before GDP, we did not really speak in those terms. Cited producer Alec Opperman talks to sociologist Dan Hirshman, who brings the story of the man who pioneered the GDP, Simon Kuznets. Yet, the GDP was not the measure the Kuznets hoped it would be. It’s a story that reveals the surp

Sequels, reboots, franchises, and songs that remake old songs—does it feel like everything new in popular culture is just derivative of something old? Contrary to popular belief, the reason is not audiences or marketing, but Wall Street. In this book, Andrew deWaard shows how the financial sector is dismantling the creative capacity of cultural industries by upwardly redistributing wealth, consolidating corporate media, harming creative labor, and restricting our collective media culture. Moreover, financialization is transforming the very character of our mediascapes for branded transactions. Our media are increasingly shaped by the profit-extraction techniques of hedge funds, asset managers, venture capitalists, private equity firms, and derivatives traders. Illustrated with examples drawn from popular culture, Derivative Media: How Wall Street Devours Culture (University of California Press, 2024) offers readers the critical financial literacy necessary to understand the destructive financialization of fil

Discussing money is always accompanied by controversy as well as enchantment. Debating what money is and how it performs its main functions in the contemporary economy is fundamental to understanding the social consequences of money transformation associated with the digital revolution. This book explores the links between the current and prospective properties of money, its production, and its relationship to the concepts of value, the common good, and innovation. Contested Money: Towards a New Social Contract (Routledge, 2023) opens a debate on the role that money could play in a different paradigm based on a renewed conception of monetary properties and functions that are capable of having a positive impact on social and individual welfare. Massó outlines the fundamentals of this monetary model, which would operate as a parallel currency, where the processes of monetary and value creation are connected in a new deal between the citizen and the state, grounded on an approach of reciprocal rights and respons

A radical new reading of eighteenth-century British theorist Thomas Robert Malthus, which recovers diverse ideas about subsistence production and environments later eclipsed by classical economics With the publication of Essay on the Principle of Population and its projection of food shortages in the face of ballooning populations, British theorist Thomas Robert Malthus secured a leading role in modern political and economic thought. In this startling new interpretation, Deborah Valenze reveals how canonical readings of Malthus fail to acknowledge his narrow understanding of what constitutes food production. Valenze returns to the eighteenth-century contexts that generated his arguments, showing how Malthus mobilized a redemptive narrative of British historical development and dismissed the varied ways that people adapted to the challenges of subsistence needs. She uses history, anthropology, food studies, and animal studies to redirect our attention to the margins of Malthus’s essay, where activities such as

What is the role of India in the Second Cold War (SCW) in South Asia? How do local histories, internal politics, and subnational dynamics shape relations with India and China? How does connectivity and infrastructure become a tool for geopolitical competition in the region, from China’s BRI to India’s infrastructural collaboration, and the US’s Millennium Challenges Corporation? On this episode we sit down with Dr. Dinesh Paudel and Aaron Magunna to answer these questions and discuss how it unfolds through cases in the Maldives and Nepal. A wide-ranging conversation, we learn about a rising India, India-China tensions, and how local politics shape the regional SCW. Dr. Dinesh Paudel is a Professor in the Sustainable Development Department at Appalachian State University. His current research focuses on exploring the relationships and entanglements between the rising Asian economies, growing environmental degradations and rapidly expanding infrastructure in the Himalaya. He has written extensively on infrastru

What is the future of the film industry? In Mobile Hollywood Labor and the Geography of Production (U California Press, 2024), Kevin Sanson, Professor of Media Studies and Head of the School of Communication at Queensland University of Technology, examines the way Hollywood film production has become a global industry. The book theorises Hollywood as a distinct spatial assemblage, and examines the consequences of the rise of global, mobile film production for places and for workers. Offering a unique perspective on the challenges of this new mode of production, alongside insights on how ‘good work’ can be defended and preserved in media industries, the book is essential reading across the humanities and social sciences, as well as for anyone interested in media today. The book is also available open access here. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

When U.S. presidents clash with corporate titans, what tips the balance of power? In The Power and the Money: The Epic Clashes Between Commanders in Chief and Titans of Industry (Regnery History, 2024), acclaimed presidential historian Tevi Troy takes readers on a riveting journey through the biggest battles between CEOs and the nation's commander in chief. He unearths the untold stories - both political and personal - that have shaped America. Troy shows how the vast reach of the federal government become a critical fact of life for every business, entrepreneur, and innovator. Today, companies find themselves navigating a competitive landscape defined by stringent regulations, so top CEOs and key business leaders must influence the legislative and regulatory system. As public affairs teams and government relations experts put forward strategies to survive Washington, CEOs have become the most important warrior on the frontlines. The Power and the Money shows how some of the nation's most important CEOs forge

In this episode of Madison's Notes, we sit down with Dennis Unkovic to discuss his latest book, The Fragility of China (Encounter Books, 2024). Unkovic delves into the complex forces shaping China's political, economic, and social landscape. From the country's rising internal challenges to its evolving role on the global stage, Unkovic offers a nuanced perspective on why China's future may be more uncertain than it appears. He unpacks the key themes of his book, including economic instability, demographic shifts, and geopolitical tensions, while offering insights into what these trends mean for the rest of the world. Dennis Unkovic is an international attorney with decades of experience advising global businesses on trade, investment, and international relations. He is a prolific author and speaker, known for his expertise in U.S.-Asia relations. In addition to The Fragility of China, Unkovic has authored several books and articles on global trade and economic issues. Madison’s Notes is the podcast of Princet

A clarion call for justice in the quest for clean energy California’s Salton Sea region is home to some of the worst environmental health conditions in the country. Recently, however, it has also become ground zero in the new “lithium gold rush”—the race to power the rapidly expanding electric vehicle and renewable energy storage market. The immense quantities of lithium lurking beneath the surface have led to predictions that the region could provide a third of global demand. But who will benefit from the development of this precious resource?  A work of stunning analysis and reporting, Charging Forward: Lithium Valley, Electric Vehicles, and a Just Future (The New Press, 2024) shows that the questions raised by Lithium Valley lie at the heart of the “green transition.” Weaving together movement politics, federal policy, and autoworker struggles, noted experts Chris Benner and Manuel Pastor stress that getting the lithium out from under the earth is just a first step: the real question is whether the region

What threatens American democracy and the rule of law? In her new book, Corporatocracy: How to Protect Democracy from Dark Money and Corrupt Politicians (NYU Press, 2024), legal scholar and campaign spending expert Ciara Torres-Spelliscy argues that the USA’s privately-funded campaign finance system – combined with corporate greed and antidemocratic strains in the modern Republican Party – endangers American democracy. As she sees it, unseen political actors and untraceable dark money influence our elections, while anti-democratic rhetoric threatens a tilt towards authoritarianism. Drawing on key Supreme Court cases such as Citizens United, Professor Torres-Spelliscy explores how corporations have undermined democratic norms, practices, and laws. From bankrolling regressive politicians to funding ghost candidates with dark money, the book exposes how corporations subvert the will of the American people – yet courts struggle to hold corporate interests and corrupt politicians accountable. If American democracy