New Books In Economics

There was nothing inevitable or natural about the rise of US finance capitalism in the early twentieth century.  In Dollars and Dominion: US Bankers and the Making of a Superpower, Mary Bridges shows how US foreign banking began as a side hustle of Gilded Age tycoons and evolved into a more staid, bureaucratized network for bolstering US influence overseas. The early waves of US bankers built a network of international branch banks that relied on the power of the US government, copied the example of British foreign bankers, and built new alliances with local elites.   Overseas bank branches provided sites for experimentation in how to fuse US political will with local innovations and on-the-ground improvisation. In the process, branch bankers constructed a flexible and durable new infrastructure that supported the growth of US power abroad.  Using details from ledger entries and other sources, Bridges shows how these branch bankers divided their local communities into groups of “us” and "them," either as pote

State capitalism. Socialism with Chinese characteristics. A socialist market economy. There have been numerous descriptions of the Chinese economy. However, none seems to capture the predatory, at times surreal, nature of the economy of the world’s most populous nation – nor the often bruising and mind-bending experience of doing business with the Middle Kingdom. Ian Williams, a long-standing reporter on China, has a new argument in Vampire State: The Rise and Fall of the Chinese Economy (Birlinn, 2024).  Rules and agreements mean little. Markets are distorted, statistics fabricated, foreign industrial secrets and technology systematically stolen. Companies and entrepreneurs, at home and abroad, are bullied – often with the collusion of the victims themselves. The Party is in every boardroom and lab, with businesses thriving or dying at its will.  All this is part of realising President Xi Jinping’s ambition of China becoming the world’s pre-eminent economic, technological and military power. This interview w

Join us as we discuss Dr. Reid Blackman’s new book: Ethical Machines: Your Concise Guide to Totally Unbiased, Transparent, and Respectful AI (Harvard Business Review Press, 2022). We dive into the intricacies of developing AI and the intersection of ethics and innovation. Reid Blackman, Ph.D., is the author of Ethical Machines, creator and host of the podcast “Ethical Machines,” and Founder and CEO of Virtue, a digital ethical risk consultancy. He is also an advisor to the Canadian government on their federal AI regulations, was a founding member of EY’s AI Advisory Board, and a Senior Advisor to the Deloitte AI Institute. His work, which includes advising and speaking to organizations including AWS, US Bank, the FBI, NASA, and the World Economic Forum, has been profiled by The Wall Street Journal, the BBC, and Forbes. His written work appears in The Harvard Business Review and The New York Times. Prior to founding Virtue, Reid was a professor of philosophy at Colgate University and UNC-Chapel Hill. Learn Mad

In The Black Tax: 150 Years of Theft, Exploitation, and Dispossession in America (U Chicago Press, 2024), Andrew W. Kahrl uncovers the history of inequitable and predatory tax laws in the United States. He examines the structural traps within America’s tax system that have forced Black Americans to pay more for less despite being taxpayers with fewer resources compared to white taxpayers. Kahrl exposes these practices, From Reconstruction up to the present, Kahrl exposes these practices to describe how discrimination continues to take new forms, even as people continue to fight for their rights, their assets, and their power. Dr. N’Kosi Oates is a curator. He earned his Ph.D. in Africana Studies at Brown University. Find him on Twitter at DrNKosiOates. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In the twenty-first century, infrastructure has undergone a seismic shift from West to East. Once concentrated in Europe and North America, global infrastructure production today is focused squarely on Asia. Infrastructure and the Remaking of Asia (U Hawaii Press, 2022) investigates the deeper implications of that pivot to the East. Written by leading international infrastructure experts, it demonstrates how new roads, airports, pipelines, and cables are changing Asian economies, societies, and geopolitics—from the Bosporus to Beijing, and from Indonesia to the Arctic. Ten tightly interwoven case studies powerfully illustrate infrastructure’s leading role in three global paradigm shifts: climate change, digitalization, and China’s emergence as a superpower. Combining social science methods with mapping techniques from the design professions, Infrastructure and the Remaking of Asia establishes a dialogue between academic research on infrastructure and the professional insights of those responsible for infrastr

Peoples & Things host, Lee Vinsel, talks to Emily Bender, Professor of Linguistics, Director of the Masters of Science in Computational Linguistics program, and Director of the Computational Linguistics Laboratory at University of Washington, about her work on artificial intelligence criticism. Bender is also an adjunct professor in the School of Computer Science and Engineering and the Information School at UW; she is a member of the Tech Policy Lab, the Value Sensitive Design Lab, the Distributed AI Research Institute, and RAISE, or Responsibilities in AI Systems and Experiences; *AND*, with Alex Hanna, she is co-host of the Mystery AI Hype Theater podcast, which you should check out. Vinsel and Bender talk about the current AI bubble, what is driving it, and the technological potentials and limitations of this technology. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

After close to three decades of the hegemony of free market ideas, the state has made a big comeback as an economic actor since the 2008 financial crisis. China’s state-owned companies and international financial institutions have made headlines for their growing influence in the world economy. State-backed investment vehicles based in the Gulf states have made high-profile investments in global real estate markets and professional sports, while their state-owned firms have become world leaders in the logistics and natural resource sectors. Governments around the world – including in the heartlands of advanced capitalism – have promoted the interests of ‘national champion’ companies in strategic economic sectors, bailed out financial institutions by taking toxic assets off of their balance sheets, and implemented industrial policies with the aim of moving into the most profitable segments of global value chains. What accounts for this renewed prominence of states in global capitalism? Does the increased activ

From airport bookstores to deckchairs, as audiobooks downloaded by commuters, and on Kindles and other portable devices, twenty-first century bestsellers move in old and new ways. In Space, Place, and Bestsellers: Moving Books (Cambridge University Press Elements in Publishing and Book Culture series, 2024), Lisa Fletcher and Elizabeth Leane examine the locations and mobilities of the contemporary bestseller as a multi-format commercial object. It employs paratextual, textual, and site-based analysis of the spatiality of bestsellers and considers the centrality of geography to the commercial promise of these books. Space, Place, and Bestsellers provides analysis of the spatial logic of bestseller lists, evidence-rich accounts of the physical and digital retail sites through which bestsellers flow, and new interpretations of how affixing the label 'bestseller' individual authors and titles generates industrial, social, and textual effects. Through its multi-layered analysis, this book offers a new model for st

The achievement of Singapore’s national public housing program is impressive by any standard. Within a year of its first election victory in 1959, the People's Action Party began to deliver on its promises in dramatic fashion. By the 1980s, 85 percent of the population had been rehoused in modern flats, and today, decades later, the provision of public housing shapes Singapore's environment. The standard accounts of this remarkable transformation leave many questions unanswered, from the historical to urgent matters of current policy: Why, of all the pressing demands of Singapore's newly enfranchised citizens, was housing such a priority back in the 1960s? How did the provision of social welfare via public housing shape Singapore's industrialisation and development over the last 50 years? Looking ahead, can the HDB continue to be a source of affordable housing for young families, while long-standing appreciation in flat prices provides for the retirement of their parents? How can this be managed as 99-year le

Handcrafted Careers: Working the Artisan Economy of Craft Beer (U California Press, 2024) unpacks the problems and privileges of pursuing a career of passion by exploring work inside craft breweries. As workers attempt new modes of employment in the era of the Great Resignation, they face a labor landscape that is increasingly uncertain and stubbornly unequal. With Handcrafted Careers, sociologist Eli Revelle Yano Wilson dives headfirst into the everyday lives of workers in the craft beer industry to address key questions facing American workers today: about what makes a good career, who gets to have one, and how careers progress without established models. Wilson argues that what ends up contributing to divergent career paths in craft beer is a complex interplay of social connections, personal tastes, and cultural ideas, as well as exclusionary industry structures. The culture of work in craft beer is based around “bearded white guy” ideals that are gendered and racialized in ways that limit the advancement

Developing Asia has been the site of some of the last century's fastest growing economies as well as some of the world's most durable authoritarian regimes. Many accounts of rapid growth alongside monopolies on political power have focused on crony relationships between the state and business. But these relationships have not always been smooth, as anti-corruption campaigns, financial and banking crises, and dramatic bouts of liberalization and crackdown demonstrate. Why do partnerships between political and business elites fall apart over time? And why do some partnerships produce stable growth and others produce crisis or stagnation? In Precarious Ties: Business and the State in Authoritarian Asia (Oxford UP, 2023) (Oxford, 2023), Meg Rithmire offers a novel account of the relationships between business and political elites in three authoritarian regimes in developing Asia: Indonesia under Suharto's New Order, Malaysia under the Barisan Nasional, and China under the Chinese Communist Party. All three regime

China today positions itself as a model of state-led environmentalism. On the country’s arid rangelands, grassland conservation policies have targeted pastoralists and their animals, blamed for causing desertification. State environmentalism - in the form of grazing bans, enclosure, and resettlement - has transformed the lives of many ethnic minority herders in China’s western borderlands. However, this book shows how such policies have been contested and negotiated on the ground, in the context of the state’s intensifying nation-building project. Drawing on ethnographic fieldwork in Alasha, in the far west of China’s Inner Mongolia Autonomous Region, Thomas White describes how ethnic Mongols have foregrounded the local breed of Bactrian camel, mobilizing ideas of heritage and resource conservation to defend pastoralism. In exploring how the greening of the Chinese state affects the entangled lives of humans and animals at the margins of the nation-state, this study is both a political biography of the Bactri

Behavioral scientist Alison Fragale offers powerful new insights and a practical playbook for women to advance in any workplace, full of tips, tricks, and strategies to help secure that elusive corner office. Over decades of research, speaking engagements, and mentorship, psychologist and professor Alison Fragale encountered recurring questions from high powered and early career women alike: How do women thread the needle of kindness and competence in the workplace? How can women earn credit for their accomplishments, negotiate better, and navigate complex office politics without losing the goodwill of their peers? Fragale investigated and determined that many women's workplace issues boil down to what psychologists call status: the perception of them by others. No amount of power-- no degree, title, or paycheck-- will raise a woman's workplace stature unless it also affects how others see her. Acknowledging this roadblock, Fragale pulls back the curtain on how we can change how others see us by developing ou

Political Theorist David Lay Williams has a new book that traces the problem of economic inequality through the thought of many of the canonical thinkers in Western political theory. The Greatest of All Plagues: How Economic Inequality Shaped Political Thought from Plato to Marx (Princeton UP, 2024) explores the thought of Socrates and Plato, Jesus, Thomas Hobbes, Jean-Jacques Rousseau, Adam Smith, John Stuart Mill, and Karl Marx. We often turn to these thinkers and their various works to consider how best to establish political regimes and understand political power. But it is quite difficult to separate economics from politics, since these are both key parts of all societies.  And this is the thrust of William’s work in The Greatest of All Plagues. We expect to find critiques of economics in Karl Marx or Adam Smith, given the focus of their political thought. But The Greatest of All Plagues demonstrates how vital the economic questions are for all of these western thinkers, and how concerned they each were

In Unexpected Revolutionaries: How Central Banks Made and Unmade Economic Orthodoxy (Cornell University Press, 2024), Dr. Manuela Moschella investigates the institutional transformation of central banks from the 1970s to the present. Central banks are typically regarded as conservative, politically neutral institutions that uphold conventional macroeconomic wisdom. Yet in the wake of the 2008 global financial crisis and the 2020 COVID-19 crisis, central banks have upended observer expectations by implementing largely unknown and unconventional monetary policies. Far from abiding by well-established policy playbooks, central banks now engage in practices such as providing liquidity support for a wide range of financial institutions and quantitative easing. They have even stretched the remit of monetary policy into issues such as inequality and climate change. Dr. Moschella argues that the political nature of central banks lies at the heart of these transformations. While formally independent, central banks nee

In this episode, we explore the insights of Jay Richards, author of The Human Advantage: The Future of American Work in an Age of Smart Machines (Forum, 2019). Richards wrote this book during a time when automation and technology were beginning to redefine the boundaries of human work and creativity. His core argument is that, despite the rise of machines, there are certain uniquely human qualities—such as creativity, moral judgment, and entrepreneurial spirit—that cannot be replicated by technology. These traits, he suggests, are what give us a distinct edge in the face of automation. As we look at today's world, where artificial intelligence and machine learning have advanced at an unprecedented pace, we must ask: Do Richards' ideas still hold true? In an era where AI can perform tasks once thought to be the exclusive domain of humans, from creative endeavors to complex decision-making, is there still a clear-cut human advantage? Richards' book offers a lens through which to examine these questions, urging

We've heard and rehearsed the conventional wisdom about oil: that the U.S. military presence in the Persian Gulf is what guarantees access to this strategic resource; that the "special" relationship with Saudi Arabia is necessary to stabilize an otherwise volatile market; and that these assumptions in turn provide Washington enormous leverage over Europe and Asia. That common sense is wrong. The author of America's Kingdom: Mythmaking on the Saudi Oil Frontier (Stanford University Press, 2007), Robert Vitalis returns to disenchant us once again—this time from "oilcraft," a line of magical thinking closer to witchcraft than statecraft. Contrary to the deeply-held beliefs of hawkish foreign policy experts and career academics alike, oil is a commodity like any other: bought, sold, and subject to market forces. The House of Saud does many things for U.S. investors, firms, and government agencies, but guaranteeing the flow of oil, making it cheap, or stabilizing the price isn't one of them. Nevertheless, persiste

China’s One Belt One Road policy, or OBOR, represents the largest infrastructure program in history. Yet little is known about it with any certainty. How can something so large be so bewildering? In One Belt One Road: Chinese Power Meets the World (Harvard East Asian Monographs, 2020), Eyck Freymann, a DPhil Candidate in China Studies at the University of Oxford, explores the nature, function, and purposes of OBOR. Drawing on primary documents in five languages, interviews with senior officials, and on-the-ground case studies in Sri Lanka, Tanzania, and Greece, Freymann sifts through the purposeful ambiguity of the Chinese Communist Party and unravels a series of popular myths about OBOR. He finds that OBOR is not controlled by a monolithic state apparatus; that recipient nations do not consider OBOR a debt trap; and that appeal of OBOR is growing, not shrinking. Ultimately, Freymann argues that the infrastructure projects are a sideshow to something else: Xi Jinping’s project to restore China’s greatness in

Business and Human Rights Law is a rapidly growing area of law, which has dramatically transformed many parts of international law. In this new volume in the Elements series, Robert McCorquodale explores how the responsibility for human rights abuses has transitioned from a purely state obligation to also being the responsibility of businesses. Business responsibility for human rights impacts have become subject both to legislation and to court decisions whenever their activities lead to human rights abuses anywhere in the world. Business and Human Rights (Oxford UP, 2024) shows the importance of the UN Guiding Principles on Business and Human Rights in these developments, and examines their influence on international, regional, and national law. It also analyses the changes on state obligations to protect human rights, on the corporate responsibility for human rights abuses, and on effective access to remedies for those adversely affected by business activities. Each of these shifts has consequences on core

The Power to Persuade: Strategic Arguing at the World Trade Organization (University of Toronto Press, 2024) by Dr. Angela Geck provides an innovative and eye-opening analysis of strategic arguing as a means of power in global politics. Based on an empirical case study of arguing processes in the World Trade Organization (WTO), the book shows how discursive contexts, institutional norms and procedures, and unequal human resources condition who has the power to persuade. While accounts of arguing in international relations are typically based on a notion of arguing as a power-free mode of interaction oriented towards understanding, Dr. Geck shows how such an approach precludes the question of persuasive power. Drawing on in-depth interviews with Geneva diplomats and a document-based analysis of the negotiations on two Doha Round issues, the book examines the practices governing strategic arguing in the WTO and uncovers two sources of persuasive power: firstly, prevalent discourses and connected regime norms em