New Books in Economics

Today I talked to Soo Bong Peer about her new book The Essential Diversity Mindset: How to Cultivate a More Inclusive Culture and Environment (Career Press, 2021) In 1967, bans on interracial marriages were finally declared unconstitutional in America. Only a decade earlier than that, merely 4% of Americans endorsed them. Today, the figure is 87% approval. So clearly, progress has been made in a country whose citizens are often multiracial as well as in interracial marriages and relationships. How can the momentum to accepting people as they are and not by dividing us based on race, gender and sexual orientation be reignited in these divisive times? Soo Bong Peer’s suggestions are of both a personal and systemic nature, ranging from practicing greater empathy to having leaders seek to be more open to dialogue with employees with distinctly different perspectives and experiences from theirs. One idea, inspired by this book: to cite Roger Ebert, movies “are like a machine that generates empathy.” So instead of movie night at home or lecture-style, lunch-’n-learn sessions at company headquarters, maybe movies-at-lunch should become a Friday feature! Soo Bong Peer is a strategy consultant and executive coach for Fortune 500 companies. The daughter of a prominent South Korean general and ambassador to Mexico, she has lived in multiple countries, including the U.S. for the past 50 years. Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Politics. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Neoclassical economic theory shows that under the right conditions, prices alone can guide markets to efficient outcomes. But what if it it’s hard to find the right price? In many important markets, a buyer’s willingness to pay for one good (say, the right to use a certain part of the radio spectrum range in San Francisco) will depend on the price of another complementary good (the right to use that same spectrum in Los Angeles). The number of possible combinations can rapidly become incalculably complex. Such complex markets require new collaborations between economists and computer scientists to create designs that are both incentive compatible and computationally tractable. In Discovering Prices: Auction Design in Markets with Complex Constraints (Columbia UP, 2017), 2020 Economics Nobel Memorial Prize winner Paul Milgrom discusses some of the new economics theory he has developed to help address these challenging contexts, in which neither unfettered market forces nor top-down planning will work well. In our interview we explore these ideas in the context of the most complex auction ever created, the FCC’s broadcast incentive auction. This auction, designed and planned by a team led by Professor Milgrom with his company Auctionomics, purchased underutilized broadcast spectrum from television stations and sold it onward to telecoms providers. This reallocation helped improve wireless network performance and pave the way for 5G wireless services, while also generating over $7 billion for the US treasury. Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco, where he leads a new digital economy-focused Master's program in Applied Economics. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Who Gets What — and Why: The New Economics of Matchmaking and Market Design (Mariner Books, 2015), Nobel Memorial Prize Winner Alvin Roth explains his pioneering work in the study of matching markets such as kidney exchange, marriage, job placements for new doctors and new professors, and enrollments in schools or colleges. In these markets, “buyers” and “sellers” must each chose the other, and getting the prices right is only a small part of what makes for a successful transaction, if cash is even involved at all. Roth’s work has led the way in taking microeconomics outside the halls of academic theory to become a practical “engineering” tool for policymakers and businesses. In our interview, we range far beyond the examples from the book to discuss the implications of his work for the design of tech’s market-making “platform” businesses like Airbnb, Amazon, Lyft, or Uber, the challenges he faces when countries or people view some kinds of transactions as “repugnant” or morally unacceptable, and the reasons why San Francisco’s school district (unlike Boston’s or New York’s) chose not to implement the un-gameable school choice plan his team devised for them. Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco, where he leads a new digital economy-focused Master's program in Applied Economics. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Today I talked to Martin Reeves and Jack Fuller about their new book The Imagination Machine: How to Spark New Ideas and Create Your Company’s Future (Harvard Business Review Press, 2021). Since the 1990s, the fade rate (i.e., the inability of companies to stay out ahead of their closest rivals) has gone from sustaining a lead on average for 10 years to now merely a single year. So focusing on offer innovation alone won’t suffice. A company that will survive and thrive must re-imagine really every aspect of the company’s culture and operations to succeed. That move requires an open mind and an inquisitive spirit not averse to surprise but, instead, welcoming of them. Who better than these two authors to take on that task? Reeves is in his own words a “failed” musician and biologist turned businessperson, and Fuller likewise prefers to go “inside” people and organizations to understand how their minds and even their very “souls” perform. This is an episode devoted, in short, to how can a company re-humanize itself in an age when converging forces requires a wholesale change. Martin Reeves is a Senior Partner and Managing Director at BCG, i.e., the Boston Consulting Group. He’s also the Chairman of the BCG Henderson Institute, BCG’s internal think tank. Jack Fuller is a former special project manager at the BCG Henderson Institute, and the founder of Casati Health, a company that reimagines mental and physical health. He’s a Rhodes Scholar with a background that combines neuroscience and philosophical theology. Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Politics. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

This is a book about the American Dream: how to understand this central principle of American public philosophy, the ways in which it is threatened by a number of winner-take-all economic trends, and how to make it a reality for workers and their families in the 21st century. Integrating political philosophy and the history of political thought with recent work in economics, political science, and sociology, Joshua Preiss' book Just Work for All: The American Dream in the 21st Century (Taylor & Francis, 2020) calls for renewed political and policy commitment to "just work." Such a commitment is essential to combat the negative moral externalities of an economy where the fruits of growth are increasingly claimed by a relatively small portion of the population: slower growth, rising inequality, declining absolute mobility, dying communities, the erosion of social solidarity, lack of faith in political leaders and institutions, exploding debt, ethnic and nationalist backlash, widespread hopelessness, and the rapid rise in what economists Angus Deaton and Anne Case call deaths of despair. Covid-19 threatens to pour gasoline on these winner-take-all fires, further concentrating economic and political power in the hands of those best suited to withstand (and even profit from) the pandemic-driven economic crisis. In this book, the author provides a model for understanding the American Dream and making it a reality in a post-Covid-19 economy. A tour de force, this book is essential reading for scholars and researchers of political philosophy, political economy, political theory, and economics, as well as for the layperson trying to make sense of the post-pandemic world. Tom Discenna is Professor of Communication at Oakland University whose work examines issues of academic labor and communicative labor more broadly. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Today I talked to Maya Hu-Chan about her new book Saving Face: How to Preserve Dignity and Build Trust (Berrett-Koehler Publishers, 2020) There are so many sayings that involve the face, but perhaps none is more central to at least Asian culture than “saving face.” That’s because it represents retaining one’s dignity versus being embarrassed or humiliated in front of others. In truth, though, everyone wants nothing more than to be appreciated, as the psychologist William James recognized long ago. In this episode, Maya Hu-Chan puts “faces” into a business context for listeners. In a meeting between Western versus Eastern executives, for instance, how will a long silence be handled? Odds are usually that it’s the Americans who will jump in first, breaking the silence. Given more than 20 years of international business experience, Hu-Chan takes listeners through why regional, company and individual personality differences matter so much. Are you a high-context or low-context person? It’s time to find out by taking in this episode that involves the platinum rule, i.e., treating others they way they wanted to be treated. Maya Hu-Chan is the founder and president of Global Leadership Associates and the co-author of Global Leadership: The Next Generation. She’s trained and coached leaders from Fortune 500 companies to non-profits around the world. Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Politics. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Actuarial thinking is everywhere in contemporary America, an often unnoticed byproduct of the postwar insurance industry’s political and economic influence. Calculations of risk permeate our institutions, influencing how we understand and manage crime, education, medicine, finance, and other social issues. In Insurance Era: Risk, Governance, and the Privatization of Security in Postwar America (The University of Chicago Press, 2021), Caley Horan charts the social and economic power of private insurers since 1945, arguing that these institutions’ actuarial practices played a crucial and unexplored role in insinuating the social, political, and economic frameworks of neoliberalism into everyday life. Through a careful analysis of insurance marketing, consumption, investment, and regulation, Horan asserts that postwar America’s obsession with safety and security fueled the exponential expansion of the insurance industry and the growing importance of risk management in other fields. Horan shows that the rise and dissemination of neoliberal values did not happen on its own: they were the result of a project to unsocialize risk, shrinking the state’s commitment to providing support, and heaping burdens upon the people often least capable of bearing them. Caley Horan is Associate Professor of History at the Massachusetts Institute of Technology. Ashton Merck is a Postdoctoral Research Scholar in Interdisciplinary Risk Sciences at NC State University. She can be found on Twitter @awmerck. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How can ideas from sociology help us understand history and economics? In Trade and Nation: How Companies and Politics Reshaped Economic Thought (Columbia UP, 2021), Emily Erikson, Associate Professor of Sociology at Yale and Academic Director of the Fox International Fellowship, explores the major shift, which occurred during the seventeenth century, in the history and philosophy of economics. The book combines computational methods from sociology with a detailed and close engagement with historical sources and the philosophy of economics. It demonstrates how a key set of merchants proved highly influential in setting the terms of economics, in the context of the specific conditions and institutional settings in England during the period. The book also offers comparative analysis, adding depth to the numerous methods of testing its core hypothesis about what really drove the changes in economics. Clearly written, and deeply engaging, the book is essential reading for scholars in economics and the social sciences, as well as in history and the humanities. Dave O'Brien is Chancellor's Fellow, Cultural and Creative Industries, at the University of Edinburgh's College of Art. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Saving the World at Business School (Part 2) is based on an in-depth filmed conversation between Howard Burton and Andy Hoffman, Holcim Professor of Sustainable Enterprise at the University of Michigan’s Ross School of Business and School of Environment and Sustainability. This extensive conversation starts with inspiring insights into how Andy Hoffman became interested in environmental issues when he declined acceptances from graduate school at Harvard and Berkeley and instead worked as a carpenter for several years in Nantucket. Topics include the notions of ‘environmental sustainability’ and ‘big business’ which sometimes seem as incompatible as oil and water and ways to make a synthesis a reality by seriously reconsidering the way we currently conduct public policy and even some deep aspects of our current societal values. Howard Burton is the founder of the Ideas Roadshow, Ideas on Film and host of the Ideas Roadshow Podcast. He can be reached at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Saving the World at Business School (Part 1) is based on an in-depth filmed conversation between Howard Burton and Andy Hoffman, Holcim Professor of Sustainable Enterprise at the University of Michigan’s Ross School of Business and School of Environment and Sustainability. This extensive conversation starts with inspiring insights into how Andy Hoffman became interested in environmental issues when he declined acceptances from graduate school at Harvard and Berkeley and instead worked as a carpenter for several years in Nantucket. Topics include the notions of ‘environmental sustainability’ and ‘big business’ which sometimes seem as incompatible as oil and water and ways to make a synthesis a reality by seriously reconsidering the way we currently conduct public policy and even some deep aspects of our current societal values. Howard Burton is the founder of the Ideas Roadshow, Ideas on Film and host of the Ideas Roadshow Podcast. He can be reached at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

To envision and create the futures we want, society needs an appropriate understanding of the likely impact of alternative actions. Data models and visualizations offer a way to understand and intelligently manage complex, interlinked systems in science and technology, education, and policymaking. Atlas of Forecasts: Modeling and Mapping Desirable Futures (MIT Press, 2021), from the creator of Atlas of Science and Atlas of Knowledge, shows how we can use data to predict, communicate, and ultimately attain desirable futures. Using advanced data visualizations to introduce different types of computational models, Atlas of Forecasts demonstrates how models can inform effective decision-making in education, science, technology, and policymaking. The models and maps presented aim to help anyone understand key processes and outcomes of complex systems dynamics, including which human skills are needed in an artificial intelligence–empowered economy; what progress in science and technology is likely to be made; and how policymakers can future-proof regions or nations. This Atlas offers a driver's seat-perspective for a test-drive of the future. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Howard speaks to Juha Kaakinen, CEO of Y-Foundation, a global leader in implementing the "Housing First principle" and a clear example of how genuine progress can be made in concretely addressing homelessness. Howard Burton is the founder of Ideas Roadshow, Ideas on Film and host of the Ideas Roadshow Podcast. He can be reached at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Our current food system has decimated rural communities and confined the choices of urban consumers. Even while America continues to ramp up farm production to astounding levels, net farm income is now lower than at the onset of the Great Depression, and one out of every eight Americans faces hunger. But a healthier and more equitable food system is possible. In Building Community Food Webs (Island Press, 2021), Ken Meter shows how grassroots food and farming leaders across the U.S. are tackling these challenges by constructing civic networks. Overturning extractive economic structures, these inspired leaders are engaging low-income residents, farmers, and local organizations in their quest to build stronger communities.. Ken Meter is one of the most experienced food system analysts in the U.S., holding over 50 years of experience in community capacity building. Meter is co–author of a toolkit for measuring economic impacts of local food development and co-editor of Sustainable Food System Assessment: Lessons from Global Practice. He has taught at the University of Minnesota and the Harvard Kennedy School. Dr. Susan Grelock Yusem is an independent researcher trained in depth psychology, with an emphasis on community, liberation, and eco-psychologies. Her work centers around interconnection and encompasses regenerative food systems, the arts and conservation. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Few revolutions in economics have been as under-covered in general literature as the emergence and development of competition theory and policymaking. Political threats to break up the tech giants or restrain Russian gas pipelines make the headlines while academic lawyers churn out textbooks on 130 years of precedent and practicing lawyers test its limits. What has been missing is an up-to-date, general legislative and intellectual history of how and why politicians, lawyers, and economists in capitalist democracies decided they needed to step in and correct the market. Why did this happen first in the US in that crucial quarter-century preceding the first world war? The Foundations of Antitrust: Events, Ideas, and Doctrines by Gregory Werden (Carolina Academic Press, 2020) fills that gap, examines the overlaps between legal innovation and common law, and busts a few myths en route. From 1977 until his retirement in 2019, Gregory Werden worked in the Antitrust Division of the US Department of Justice – most recently as Senior Economic Counsel. A PhD economist from the University of Wisconsin, he has published extensively on antitrust policy. *The author's own book recommendation is Trusts: The Recent Combinations in Trade, Their Character, Legality and Mode of Organization, and the Rights, Duties and Liabilities of Their Managers and Certificate Holders by William W Cook (Gale - Making of Modern Law, 2020; originally published by L. K. Strouse, 1888) Tim Gwynn Jones is an economic and political-risk analyst at Medley advisors (a division of Energy Aspects). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Fair trade certified coffee is now commonly found on the supermarket shelves of the Global North, but the connections between the consumer and producer of fair trade coffee are far from simple. Lindsay Naylor’s book, Fair Trade Rebels: Coffee Production and Struggles for Autonomy in Chiapas (University of Minnesota Press, 2019), examines the contested politics of fair trade coffee production in the indigenous highlands of Mexico. Using theoretical approaches based in diverse economies scholarship and decolonial thinking, Naylor highlights the significance of the multiple, diverse economic practices and relations that campesinos/as use in their struggle to form more dignified livelihoods. While she critiques the narratives of economic development and problematic understandings of solidarity that underpin many fair trade discourses, Naylor’s empirically grounded research produces a nuanced analysis of the possibilities and limitations inherent in contemporary fair trade coffee production. Rather than understanding fair trade as a mechanism to address the failures of free trade, Naylor argues that fair trade should be understood as “fair trade in movement” to account for the dynamic processes involved in making trade more fair and for the multiple and fluid ideas, values and identities that constitute these trading relationships. This understanding creates possibilities for new forms of solidarity and being in common that counter universalizing systems of economic exchange. Lindsay Naylor (she/her) is an Associate Professor in the Department of Geography & Spatial Sciences at the University of Delaware in the United States and is the co-facilitator of the Embodiment Lab. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Moving Beyond Modern Portfolio Theory: Investing that Matters (Routledge, 2021) tells the story of how Modern Portfolio Theory (MPT) revolutionized the investing world and the real economy, but is now showing its age. MPT has no mechanism to understand its impacts on the environmental, social and financial systems, nor any tools for investors to mitigate the havoc that systemic risks can wreck on their portfolios. It's time for MPT to evolve. The authors, Jon Lukomnik and James Hawley, propose a new imperative to improve finance's ability to fulfil its twin main purposes: providing adequate returns to individuals and directing capital to where it is needed in the economy. They show how some of the largest investors in the world focus not on picking stocks, but on mitigating systemic risks, such as climate change, so as to improve the risk/return profile of the market as a whole. The author's "Investing that matters" embraces MPT's focus on diversification and risk adjusted return, but understands them in the context of the real economy and the total return needs of investors. Whether an investor, an MBA student, a Finance Professor or a sustainability professional, Moving Beyond Modern Portfolio Theory: Investing That Matters is thought-provoking and relevant. Daniel Peris is Senior Vice President at Federated Hermes in Pittsburgh. He can be reached at [email protected] or via Twitter @HistoryInvestor. His History and Investing blog and Keep Calm & Carry On Investing podcast are at https://strategicdividendinves... Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

For three decades, Hans Gersbach has been using economic analysis and tools to explain and improve political behaviour. His academic career began just as history was supposed to be ending with the victory of liberal democracy. Today, as a string of books argue – most recently Twilight of Democracy by Anne Applebaum (Penguin, 2020) and Our Own Worst Enemy by Tom Nichols‎ (OUP USA, 2021) – things look rather different. Gersbach’s mission to optimise democracy and reduce the disenchantment that feeds extremism has never been more salient. His Redesigning Democracy: More Ideas for Better Rules (Springer, 2017) may be four years old but he has continued publishing papers developing the book’s ideas on political contracts, re-election thresholds, optimal term lengths, pendular voting, "Catenarian" fiscal discipline, and even incentive pay for policymakers. Another book is only a matter of time. Hans Gersbach holds the Chair of Macroeconomics, Innovation and Policy at ETH Zurich and previously taught at Heidelberg and Basel. *The author's own book recommendations are Voting Procedures Under a Restricted Domain: An Examination of the (In)Vulnerability of 20 Voting Procedures to Five Main Paradoxes by Dan Felsenthal and Hannu Nurmi (SpringerBriefs in Economics, 2019), and A Beautiful Mind: A Biography of John Forbes Nash, Jr. by Sylvia Nasar (Simon & Schuster, 1998). Tim Gwynn Jones is an economic and political-risk analyst at Medley advisors (a division of Energy Aspects). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Today I talked to Ann Latham about her new book The Power of Clarity: Unleash the True Potential of Workplace Productivity, Confidence, and Empowerment (Bloomsbury, 2021). On the factory floor, the processes have been honed for efficiency. Enter the company’s headquarters, however, and the office functions in a way that brings to mind two of Anne’s favorite terms: “kitchen sink syndrome” and “hand-me-down ambiguity.” In other words, things move slowly and endless reviews and overthinking or failing to think at all are the two modes that seem to predominate in the workplace. What’s the solution? Recognize that meetings need to make a difference to justify the 25% or more of people’s workdays that they swallow up. Who should be there? Those who can, should and will actually input on the decision to be made, and those who can authorize the decision. Everybody else, not so much. For anybody who can’t stand the quagmire at work, Ann’s your person. Ann Latham has consulted for major global companies like Boeing and Medtronic, as well as Public Television, and she’s the author of two other books: The Clarity Papers and Uncommon Meetings. She’s been interviewed by The New York times, Bloomberg Business Week, and Forbes, where she’s also an expert blogger. Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Politics. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com. 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 late nineteenth century, as much of the world adopted some variant of the gold standard, China remained the most populous country still using silver. Yet China had no unified national currency; there was not one monetary standard but many. Silver coins circulated alongside chunks of silver and every transaction became an "encounter of wits." China and the End of Global Silver, 1873–1937 (Cornell UP, 2020) focuses on how officials, policy makers, bankers, merchants, academics, and journalists in China and around the world answered a simple question: how should China change its monetary system? Far from a narrow, technical issue, Chinese monetary reform is a dramatic story full of political revolutions, economic depressions, chance, and contingency. As different governments in China attempted to create a unified monetary standard in the late nineteenth and early twentieth century, the United States, England, and Japan tried to shape the direction of Chinese monetary reform for their own benefit. Austin Dean argues convincingly that the Silver Era in world history ended owing to the interaction of imperial competition in East Asia and the state-building projects of different governments in China. When the Nationalist government of China went off the silver standard in 1935, it marked a key moment not just in Chinese history but in world history. Austin Dean is Assistant Professor of History at the University of Nevada, Las Vegas. His work has appeared in Modern China and the Journal of American-East Asian Relations. He is on twitter @thelicentiate. Ghassan Moazzin is an Assistant Professor at the Hong Kong Institute for the Humanities and Social Sciences and the Department of History at the University of Hong Kong. He works on the economic and business history of 19th and 20th century China, with a particular focus on the history of foreign banking, international finance and electricity in modern China. His first book, tentatively titled Foreign Banks and Global Finance in Modern China: Banking on the Chinese Frontier, 1870–1919, is forthcoming with Cambridge University Press. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Tanya Jakimow's book Susceptibility in Development: Micropolitics of Local Development in India and Indonesia (Oxford UP, 2020) offers a novel approach to understanding power in development through theories of affect and emotion. Development agents - people tasked with designing or delivering development - are susceptible to being affected in ways that may derail or threaten their 'sense of self'. This susceptibility is in direct relation to the capacity of others to engender feelings in development agents: an overlooked form of power. Susceptibility in Development proposes a new analytical framework to enable new readings of power relations and their consequences for development. Susceptibility in Development offers a comparative ethnography of two types of local development agents: volunteers in a community development program in Medan, Indonesia, and women municipal councillors in Dehradun, India. Ethnographic accounts that are attentive to the emotions and affects engendered in encounters between individuals provide a fresh reading of the relations shaping local development. Local development agents may be more 'susceptible' than workers and volunteers from the global North, yet the capacity/susceptibility to affect/be affected orders relations and shapes outcomes of development more broadly. In theorising from the local, Susceptibility in Development offers fresh insights into power dynamics in development. Like this interview? If so you might also be interested in: Nicole Curato, Democracy in a Time of Misery: From Spectacular Tragedies to Deliberative Action Edward Aspinall and Ward Berenschot, Democracy for Sale: Elections, Clientelism, and the State in Indonesia Professor Michele Ford is the Director of the Sydney Southeast Asia Centre, a university-wide multidisciplinary center at the University of Sydney, Australia. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Home to over 730,000 people, with close to four million people living in the metropolitan area, Seattle has the third-highest homeless population in the United States. In 2018, an estimated 8,600 homeless people lived in the city, a figure that does not include the significant number of "hidden" homeless people doubled up with friends or living in and out of cheap hotels. In Skid Road: On the Frontier of Health and Homelessness in an American City (Johns Hopkins UP, 2021), Josephine Ensign digs through layers of Seattle history—past its leaders and prominent citizens, respectable or not—to reveal the stories of overlooked and long-silenced people who live on the margins of society. Stephen Pimpare is director of the Public Service & Nonprofit Leadership program and Faculty Fellow at the Carsey School of Public Policy at the University of New Hampshire. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Cultivating Knowledge: Biotechnology, Sustainability and the Human Cost of Cotton Capitalism in India by Andrew Flachs (University of Arizona Press, 2019) tells a story of how farmers in rural south India evaluate agricultural success through shifting calculations of social meaning, performance, and economic aspirations. Navigating multiple avenues of incentives, Dr. Flachs moves beyond the hidden links of consumption and production to concerns about how people engage with global change on the level of the farm field. By choosing to plant either genetically modified or certified organic cotton seeds, farmers risk their livelihoods by participating in diverging courses of sustainable agriculture. The farmer’s choice of seed reflects a performance of transformation regarding knowledge and agrarian sensibilities within rapidly changing socioeconomic and material realities that are influenced by both a colonial past and the neoliberal present. As Andrew put it, “a seed is a choice that cannot be taken back.(3)” Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Ella L. J. Bell Smith and Stella M. Nkomo, Our Separate Ways: Black and White Women and the Struggle for Professional Identity (Harvard Business Press, 2021) Ella Bell Smith is a professor of business administration at the Tuck School of Business. She’s also the founder and president of ASCENT: Leading Multicultural Women to the Top. Stella M. Nkomo is a professor in the Department of Human Resource Management at the University of Pretoria. She was the founding president of the Africa Academy of Management. A “glass ceiling” that holds women back from attaining the top levels of management within a company is a familiar term. But how about a “cement wall”? That’s how these two authors describe the struggle that confronts women of color and often African-American women particularly as they try to rise through the ranks. What black women must deal with is often a lack of both visibility and authority. This episode explores why it is that so little progress has been made so far in the 21st century. While white female professionals now occupy about 1/3rd of all management roles (still not enough), black women’s share amounts to 4%. How can diversity be realized more organically, rather than through a series of lectures that likely won’t “move the needle”? Listen to this episode to find out. Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Politics. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Do you trust corporations? Do you trust politicians? Do you trust the science? Does anyone trust anyone anymore? In Why Trust Matters: An Economist's Guide to the Ties That Bind Us (Columbia UP, 2021), Professor Ben Ho reveals the surprising importance of trust to how we understand our day-to-day economic lives. Starting with the earliest societies and proceeding through the evolution of the modern economy, he explores its role across an astonishing range of institutions and practices, surveying and synthesizing research across economics, political science, psychology, and other disciplines, and presents his own cutting-edge behavioral economics research on the role of apologies in restoring trust. He argues that we trust far more than we may realize, and that mostly this is a good thing. Check out the New Yorker's review of the book. Ben Ho is an associate professor at Vassar College. Ho applies economic tools like game theory and experimental design to topics like apologies, trust, identity, inequality and climate change. Before Vassar, he taught MBA students at Cornell, served as lead energy economist at the White House Council of Economic Advisers, and worked/consulted for Morgan Stanley and several tech startups. Professor Ho also teaches at Columbia University where he is a faculty affiliate for the Center for Global Energy Policy. His work has been featured in the New York Times and the Wall Street Journal. Ho holds seven degrees from Stanford and MIT in economics, education, political science, math, computer science and electrical engineering. Peter Lorentzen is economics professor at the University of San Francisco. He heads USF's Applied Economics Master's program, which focuses on the digital economy. His research is mainly on China's political economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

On this episode of the Economic and Business History channel, I spoke with Dr. Victoria Basualdo and Dr. Marcelo Bucheli about their new edited book. Big Business and Dictatorships in Latin America: A Transnational History of Profits and Repression (Palgrave Macmillan, 2020) is an edited volume that studies the relationship between big business and the Latin American dictatorial regimes during the Cold War. The first section provides a general background about the contemporary history of business corporations and dictatorships in the twentieth century at the international level. The second section comprises chapters that analyze five national cases (Argentina, Brazil, Chile, Uruguay, and Peru), as well as a comparative analysis of the banking sector in the Southern Cone (Argentina, Brazil, Chile, and Uruguay). The third section presents six case studies of large companies in Argentina, Brazil, Chile, Colombia, and Central America. This book is crucial reading because it provides the first comprehensive analysis of a key yet understudied topic in Cold War history in Latin America. Victoria Basualdo is Researcher at the Argentine National Scientific Council (CONICET) and at the Facultad Latinoamericana de Ciencias Sociales (FLACSO), and Professor in the Political Economy Master's Degree Program at FLACSO, Argentina. She specializes in contemporary economic and labor history, with special focus on structural changes and the transformations of trade-union organizations in Argentina and Latin America. Hartmut Berghoff is Director of the Institute of Economic and Social History at the University of Göttingen, Germany. He was the Director of the German Historical Institute in Washington DC (2008-2015) and held various visiting positions at the Center of Advanced Study, Harvard Business School, the Maison des Sciences de l’Homme, and the Henley Business School. He has worked on the history of consumption, business history, immigration history and the history of modern Germany. Marcelo Bucheli is Associate Professor of Business Administration at the Gies College of Business, University of Illinois at Urbana-Champaign, USA. His research focuses on the political economy of multinational corporations in Latin America, theoretical and methodological approaches to the study of the relationship between firms and states in a historical perspective, and business groups. Hosted by Paula De La Cruz-Fernandez, consultant, historian, and digital editor. New Books Network en español editor. Edita CEO. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

With technological advances and information sharing so prevalent, health care should be more transparent and easier to access than ever before. So why does it seem like everything about it―from pricing, drug development, and the emergence of new diseases to the intricacies of biologic and precision medicine therapies―is becoming more complex, not less? Rohit Khanna's Misunderstanding Health: Making Sense of America's Broken Health Care System (Johns Hopkins UP, 2021) examines some of today's most revealing health care trends while imploring us to look at these issues with alacrity, humor, and vigilance. Over the course of eighteen short, engaging chapters, Khanna explains • how unexamined beliefs can endanger patients, drive cost, and increase bureaucracy • the "Dr. Google" effect on the ways that we seek (or eschew) care • why our health care costs more than in any other country • the unintended consequences of using rating sites like Yelp • what we can learn about health care from hurricanes • how social media influencers impact health care • how artificial intelligence can improve health care • why health screening programs are so complicated • what the industry is doing to combat health care fraud • what the big deal about legalizing medical cannabis is • how to think about behavioral "nudges" designed to improve health • why understanding how data are collected is critical to understanding what they can tell us • and much more Each provocative and easy-to-read chapter covers a familiar aspect of health care in a clear and succinct way. Offering inquisitive readers a warts-and-all view of American health care, Misunderstanding Health is the book that you'll want to read if you know enough to be frustrated by the system but want a deeper dive into its challenges and opportunities. Stephen Pimpare is director of the Public Service & Nonprofit Leadership program and Faculty Fellow at the Carsey School of Public Policy at the University of New Hampshire. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Statistical graphing was born in the seventeenth century as a scientific tool, but it quickly escaped all disciplinary bounds. Today graphics are ubiquitous in daily life. In their just-published A History of Data Visualization and Graphic Communication (Harvard UP, 2021), Michael Friendly and Howard Wainer detail the history of graphs and tables, how they help solve problems, and even changed the way we think. You'll never look at an excel chart the same way again.... Daniel Peris is Senior Vice President at Federated Hermes in Pittsburgh. He can be reached at [email protected] or via Twitter @HistoryInvestor. His History and Investing blog and Keep Calm & Carry On Investing podcast are at https://strategicdividendinves... Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

One of the unfulfilled goals of the American left during the 1930s was that of an economy in which every American would enjoy the opportunity for gainful employment. In The Full Employment Horizon in 20th-Century America: The Movement for Economic Democracy (Bloomsbury, 2021), Michael Dennis describes the origins of the movement, the efforts made to achieve it, and the factors that frustrated its realization. Dennis traces its beginnings to a progressive critique of industrial capitalism in the 1920s, which warned of the growing disparity between rising productivity and stagnant wages. During the Great Depression, groups from across the political left took up the cause of full employment, campaigning for legislation to ensure that jobs could be had by all. When President Franklin Roosevelt called in 1944 for a right to a job as part of his Economic Bill of Rights, it seemed as though full employment was close to realization, only for its prospects to be dashed in the late 1940s by opposition from business, Southern conservatives, and Republicans. Moribund in the immediate post-World War II era, the full employment movement gained new life in the 1960s as civil rights activists adopted it as part of their cause. By the 1970s, their hopes took form with the Humphrey-Hawkins bill, which was advocated as a solution to gender segregation and racial exclusion. As Dennis details, though, its ambitious ideas of participatory democracy were opposed by not just the traditional opponents of the full employment movement but mainstream organized labor as well. Without the grassroots efforts that had characterized it during the 1930s the movement lacked the social foundation to push back against this, resulting in the passage of a bill lacking the means of turning its ambitious aspirations into reality. While the full employment cause suffered in the neoliberal age that followed, Dennis notes how the idea persisted into the 21st century, when it was revitalized in the aftermath of the 2008 recession as a response to the economic challenges facing the country. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Today I talked to Jonathan Brill about his new book Rogue Waves: Future-Proof Your Business to Survive and Profit from Radical Change (McGraw-Hill Education, 2021) There are ten big trends that Brill identifies as disrupting business now and into the future. Each is a wave of change onto self, but the intersection of many of them contributes to forming monster waves that threaten to drown companies not open to rapid, successive adaptations. What are the avoidable causes of failure? What kind of executive will do best? (Hint: it’s not those too full of pride.) From automation and artificial intelligence to Sherlock Holmes and abductive reasoning, this episode has a little of everything, as befits a world in turmoil. Hard to resist a book with this wonderful quote from Anais Nin: “We don’t see things as they are, we see them as we are.” It’s human fallacies, especially the confirmation bias, that so often limits our ability to adapt. Jonathan Brill is the former Global Futurist and Research Director for HP, a board member and advisor to the Chairman at Frost & Sullivan, and the Futurist-in-Residence at Territory Studio. He’s been a consultant to numerous companies and the managing partner at innovation firms that generated over $27 billion in new revenue for customers. Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com. 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 Family Firm: A Data-Driven Guide to Better Decision Making in the Early School Years (Penguin, 2021), Brown University professor of economics and mom of two Emily Oster offers a classic business school framework for data-driven parents to think more deliberately about the key issues of the elementary years: school, health, extracurricular activities, and more. In our interview, she walks me through a “case study” exercise on the decision of whether to delay kindergarten entry, discusses what (if anything) differs between the approach in her approach and what a family therapist might recommend, and reminds us that when making family decisions, we should always be careful to ask “What are our dreams and what are our kids’ dreams?” and remember these may not be the same. Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco. His researches governance and decision-making within the Chinese Communist Party but does not recommend that parents apply any of his research findings on censorship, purges, or riots to managing their family life. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Margarita Balmaceda’s Russian Energy Chains: The Remaking of Technopolitics from Siberia to Ukraine to the European Union (Columbia University Press, 2021) is a meticulous exploration of a complex system of energy supplies involving Russia, Ukraine, and the European Union. While originating in Russia, energy supplies, as the author asserts, undergo changes and transformations when being delivered to various destinations. What do these changes inform about the nature of both energy resources and power? Offering an insightful framework in which the two concepts can be understood, Russian Energy Chains complicates the issue of energy supplies that are inextricable from the dynamics of power relations on the interstate level. In addition to acute commentaries on the current role and status of Russia in the energy market, Margarita Balmaceda offers references to various time periods to illustrate how politically and geographically entangled energy systems are. Russian Energy Chains provides a detailed account of the development of the energy power that Russia seems to both offer and usurp; the book guides the reader through the complexity of power relations that include Ukraine and the European Union and helps better understand the current debate about Nord Stream-2. On a larger level, Margarita Balmaceda invites the discussion of the future of the energy market in terms of domestic and international policies. Nataliya Shpylova-Saeed is a PhD candidate in the Department of Slavic and East European Languages and Cultures, Indiana University Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

What is creativity? While our traditional view of creative work might lead us to think of artists as solitary visionaries, the creative process is profoundly influenced by social interactions even when artists work alone. Hannah Wohl speaks with Pierre d’Alancaisez about Bound by Creativity: How Contemporary Art Is Created and Judged (U Chicago Press, 2021), her ethnographic study of the New York contemporary art scene that reveals how artists develop conceptions of their distinctive creative visions through experimentation and social interactions and how aesthetic judgment evolves between artist studios, galleries, art fairs, and collectors’ houses. We mention Paula Cooper Gallery and the work of artists Lucky DeBellevue and Gina Beavers. The Armory Show takes place in NY in early September 2021. Hannah Wohl is an assistant professor in sociology at University of California, Santa Barbara. Pierre d’Alancaisez is a contemporary art curator, cultural strategist, researcher. Sometime scientist, financial services professional. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

When trying to understand how to help countries escape poverty, economists initially focused on macro topics like inflation, government deficits, trade balances, and capital inflows. Later there was a shift in focus to institutions, looking at whether and how competitive elections, strong legal systems, and other features facilitated investment and growth. More recently micro policy has become a new focus, with experimentalists conducting randomized trials to figure out whether or how much specific policies like de-worming, malaria bednets, or clean cooking stoves helped or why they might fail. But regardless of whether a country is a democracy or dictatorship and regardless of whether the policies have been evaluated by a randomized controlled trial, someone has to carry them out. How are government personnel selected, assigned, and incentivized? How does this affect policy implementation? In her book, Regime Threats and State Solutions: Bureaucratic Loyalty and Embeddedness in Kenya, Professor Mai Hassan explores these issues. She shows how bureaucratic assignments to different areas balance competing political and policy concerns, with a focus as much on maintaining power as on achieving development. In our conversation, Professor Hassan mentioned a new working paper on the grudging and gradual formalization of property rights in Kenya, with my colleague at the University of San Francisco, Kathleen Klaus. She has also co-authored an article setting out a new agenda for the study of public administration in developing countries. Recently, she has begun studying Sudan, the country of her birth. One early product of this research is here. Mai Hassan is an Associate Professor in the Department of Political Science at the University of Michigan. Her work focuses on the state, autocracy, and regime change. She received her PhD from Harvard University. Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco. His research examines the political economy of governance and development in China. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Agriculture has been among the toughest political battlegrounds in postwar Japan and represents an ideal case study in institutional stability and change. Inefficient land use and a rapidly aging workforce have long been undermining the economic viability of the agricultural sector. Yet vested interests in the small-scale, part-time agricultural production structure have obstructed major reforms. Change has instead occurred in more subtle ways. Since the mid-1990s, a gradual reform process has dismantled some of the core pillars of the postwar agricultural support and protection regime. Harvesting State Support analyzes this process by shifting the analytical focus to the local level. In Harvesting State Support: Institutional Change and Local Agency in Japanese Agriculture (U Toronto Press, 2021), Hanno Jentzsch investigates how local actors, including farmers, local governments, and local agricultural cooperatives, have translated abstract policies into local practice. Showing how local variants are constructed through recombining national reforms with the local informal institutional environment, Harvesting State Support reveals new links between agricultural reform and other shifts in Japan’s political economy. This is an important book that should be read by anyone interested in the intersection of local and larger institutions as they influence agriculture in post-industrial society. John W. Traphagan, Ph.D. is Professor and Mitsubishi Heavy Industries Fellow in the Department of Religious Studies at the University of Texas at Austin, where he is also a professor in the Program in Human Dimensions of Organizations. 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 Teacher Insurgency: A Strategic and Organizing Perspective (Harvard Education Press, 2020), Leo Casey addresses how the unexpected wave of recent teacher strikes has had a dramatic impact on American public education, teacher unions, and the larger labor movement. Casey explains how this uprising was not only born out of opposition to government policies that underfunded public schools and deprofessionalized teaching, but was also rooted in deep-seated changes in the economic climate, social movements, and, most importantly, educational politics. With an eye to maintaining the momentum of the insurgency, the author examines four key strategic questions that have arisen from the strikes: the relationship of mobilization to organizing; the relationship between protests and direct action; the conditions under which teacher strikes are most likely to be successful; and the importance of "bargaining for the common good." More broadly, Casey examines how to organize teachers for collective action, focusing on four discourses of teaching: teaching as nurturance; as professionalism; as labor and craft; and as a vocation of democratic intellectual work. Leo Casey is the Executive Director of the Albert Shanker Institute, a strategic think tank affiliated with the American Federation of Teachers. He taught and worked in New York City public high schools for twenty-eight years. During this time, he was a union activist and leader, serving for six years as a Vice President of New York City's United Federation of Teachers. In that role, he led the union's organizing in charter schools. Casey has won a number of awards for his teaching and was named the 1992 Social Studies Teacher of the Year for the American Teacher Awards. For ten years, his students--all of color, and predominantly immigrants and girls--won city and state championships in the "We the People" civics competition, twice placing fourth in the nation. Casey has worked with teachers in Tanzania and Russia on the development of civics education, and with teachers in China on promoting critical pedagogical methods. He has written extensively on civics, education, unionism and politics, in both print and on-line publications. Casey holds a PhD in political science from the University of Toronto. Tom Discenna is Professor of Communication at Oakland University whose work examines issues of academic labor and communicative labor more broadly. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Property rights are important for economic exchange, but many governments don't protect them. Private market organizations can fill this gap by providing an institutional structure to enforce agreements, but with this power comes the ability to extort group members. Under what circumstances, then, will private organizations provide a stable environment for economic activity? Based on market case studies and a representative survey of traders in Lagos, Nigeria, this book argues that threats from the government can force an association to behave in ways that promote trade. The findings challenge the conventional wisdom that private good governance in developing countries thrives when the government keeps its hands off private group affairs. Instead, the author argues, leaders among traders behave in ways that promote trade primarily because of the threat of government intrusion. Shelby Grossman is a research scholar at the Stanford Internet Observatory. Dr. Grossman's primary research interests are in comparative politics and sub-Saharan Africa. She was previously an assistant professor of political science at the University of Memphis and a Postdoctoral Fellow at Stanford University’s Center on Democracy, Development, and the Rule of Law. Dr. Grossman earned her PhD in Government from Harvard University in 2016. Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco, where he leads a new digital economy-focused Master's program in Applied Economics. His primary research interest is in the political economy of governance and development, particularly in China. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Is there an ideal portfolio of investment assets, one that perfectly balances risk and reward? In Pursuit of the Perfect Portfolio (Princeton UP, 2021) examines this question by profiling and interviewing ten of the most prominent figures in the finance world—Jack Bogle, Charley Ellis, Gene Fama, Marty Leibowitz, Harry Markowitz, Bob Merton, Myron Scholes, Bill Sharpe, Bob Shiller, and Jeremy Siegel. We learn about the personal and intellectual journeys of these luminaries—which include six Nobel Laureates and a trailblazer in mutual funds—and their most innovative contributions. In the process, we come to understand how the science of modern investing came to be. Each of these finance greats discusses their idea of a perfect portfolio, offering invaluable insights to today’s investors. Inspiring such monikers as the Bond Guru, Wall Street’s Wisest Man, and the Wizard of Wharton, these pioneers of investment management provide candid perspectives, both expected and surprising, on a vast array of investment topics—effective diversification, passive versus active investment, security selection and market timing, foreign versus domestic investments, derivative securities, nontraditional assets, irrational investing, and so much more. While the perfect portfolio is ultimately a moving target based on individual age and stage in life, market conditions, and short- and long-term goals, the fundamental principles for success remain constant. Aimed at novice and professional investors alike, In Pursuit of the Perfect Portfolio is a compendium of financial wisdom that no market enthusiast will want to be without. Marshall Poe is the founder and editor of the New Books Network. He can be reached at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Development economists have been doing intensive research in recent years on conditional cash transfer programs as a tool to help get people out of poverty. Meanwhile in the US there has been a lot of talk about Universal Basic Income as a remedy for inequality and social disclocations. On paper, China’s Minimum Livelihood Guarantee, or Dibao, sounds a lot like Universal Basic Income. Jennifer Pan shows that this tool of poverty alleviation has instead been turned into a tool of surveillance and oppression. Ultimately, this focus on “stability” may backfire. Pan’s book Welfare for Autocrats: How Social Assistance in China Cares for Its Rulers (Oxford UP, 2020) offers insights gleaned from a remarkable combination of in-person field interviews, surveys, online field experiments, and data generated from automated analyses of massive numbers of government documents and social media posts. Jennifer Pan is an Assistant Professor of Communication, and an Assistant Professor, by courtesy, of Political Science and Sociology at Stanford University. She conducts research at the intersection of political communication and authoritarian politics, showing how authoritarian governments try to control society, how the public responds, and when and why each is successful. Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco, where he leads a new digital economy-focused Master's program in Applied Economics. His research examines the political economy of governance and development in China. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In July 2021, nine summers after its then president saved the euro with three choice words (“whatever it takes”), the European Central Bank published the results of a thoroughgoing review of its strategy. A policy framework built for times when inflation posed a modest upside challenge had coped – but only just – with successive financial, sovereign-debt, banking and health crises that threatened chronically weak inflation at best and deflation at worst. Essential to the review was research conducted to mark the 20th anniversary of the ECB in 2019 and now updated and published as a book: Monetary Policy in Times of Crisis: A Tale of Two Decades of the European Central Bank (Oxford UP, 2021) by Massimo Rostagno, Carlo Altavilla, Giacomo Carboni, Wolfgang Lemke, Roberto Motto, Arthur Saint Guilhem and Jonathan Yiangou. This exhaustive analytical history concludes that the ECB operated two policy regimes – one from 1999 to 2012 and a second crisis-informed strategy until the narrative ends before the onset of the pandemic. With its strategic review over, the history lessons from this book will be an essential guide to ECB thinking as it prepares a slow and careful unwinding of its emergency policy settings. Massimo Rostagno has been the ECB’s Director General Monetary Policy since August 2017 and has worked at the central bank since 1998. He has served as head of the Monetary Policy Strategy Division and Director Monetary Policy and, before that, worked at the Banca d’Italia and the International Monetary Fund. He holds a PhD in economics from the University of California, Los Angeles. (Any views expressed are personal and not necessarily those of the ECB). *The author's own book recommendations are Capital in the Twenty-First Century by Thomas Piketty (Harvard University Press, 2014) and The Populist Temptation: Economic Grievance and Political Reaction in the Modern Era by Barry Eichengreen (OUP USA, 2018). Tim Gwynn Jones is an economic and political-risk analyst at Medley Global (Energy Aspects). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Gramsci’s concept of hegemony is often invoked, but usually as a means of cultural critique and analysis. However, my guest Lorenzo Fusaro argues in his recent book Crises and Hegemonic Transitions: From Gramsci's Quaderni to the Contemporary World Economy (Haymarket Books, 2020) that Gramsci’s work is permeated by Marx’s economic critique and his theories of value. Split into two parts, the book is both a critical rereading of Gramsci, followed by a rereading of the last century of economic and political developments. The first half of the book involves a careful rereading of key concepts in Gramsci’s Prison Notebooks, rethinking concepts such as hegemony as being more closely related to the base, instead of simply being superstructural description. Hegemony is not above and beyond economic dynamics and antagonisms, but emerges from them and changes alongside them. This allows for a broadening of the theory conceptually, and also allows him to apply it to international relations, instead of being confined to a particular state. The second half of the book then traces the economic history of the 20th century, starting with the rise of the United States in the international scene in the 1920’s, and following through to its eventual unraveling on the world stage in the present day. And even though the book was first published in 2018, at the end Fusaro offered some speculations on how this reworked theory of hegemony might help us think about the recent COVID crisis and its aftermath. Synthesizing theory, history and economics, this is a book that offers a powerful punch, and will reward readers from a number of different angles, and offers some dynamic theoretical resources for understanding our current crisis, and what might be just around the corner. The book was first published by Brill as part of the Historical Materialism book series, and is now available in paperback from Haymarket. Lorenzo Fusaro received his PhD in international political economy at King's College, London. He is an associate professor of political economy at the Universidad Autonoma Metropolitana in Mexico, and is also one of the editors of Revisiting Gramsci’s Laboratory. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

David Chard, the President of Wheelock College in Boston, MA, discusses the process of merging Wheelock successfully into Boston University to become the BU Wheelock College of Education and Human Development. His book, When Colleges Close: Leading in a Time of Crisis (Johns Hopkins University Press, 2020), written with Wheelock’s VPAA Mary Churchill, provides the most detailed guide available on each step involved in merging a struggling small college into a large university in a way that preserve and amplified its mission and impact. Chard shares what led them to write the book so soon after completing this painful process, and many additional insights about what goes into a successful merger. David Finegold is the president of Chatham University. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Once described as a “German oddity”†, Ordoliberalism was one of a number of new liberalisms that emerged from the political maelstrom of the interwar period. But, unlike the other neoliberal splinters, Ordoliberalism – founded at the University of Freiburg by economist Walter Eucken and jurist Franz Böhm – was quickly tested in the real world. The West Germany rebuilt out of the ashes of war was founded on its principles: rules-based economics, independent agencies protected from politics and the state as arbiter. The country's recovery and successful reunification were a testament to Ordoliberalism’s effectiveness but, as the European Community became a union and created the euro, its other members were keener to import the success than the rules. When crisis struck from 2008, the EU's architecture was severely stress-tested and remains under strain in the wake of the coronavirus pandemic. Is the long EU political crisis due to Ordoliberalism or due to its non-implementation? Can and should Ordoliberalism adapt and survive? These are some of the questions addressed in Ordoliberalism and European Economic Policy: Between Realpolitik and Economic Utopia (Routledge paperback, 2021) co-edited by Malte Dold and Tim Krieger. Malte Dold is a Freiburg university graduate who now an assistant professor of economics at Pomona College in California, and Tim Krieger is Freiburg's Wilfried Guth professor of constitutional political economy. *As their book recommendations, Tim Krieger chose Conservative Liberalism, Ordo-liberalism, and the State: Disciplining Democracy and the Market by Kenneth Dyson (OUP Oxford, 2021) and Exit Left: Markets and Mobility in Republican Thought by Robert S. Taylor (OUP Oxford, 2017); and Malte Dold chose The Narrow Corridor: How Nations Struggle for Liberty by Daron Acemoglu and James A. Robinson (Penguin, 2020) and The Idea of Justice by Amartya Sen (Penguin, 2010). Tim Gwynn Jones is an economic and political-risk analyst at Medley Global Advisors (Energy Aspects). †Ordoliberalism: A German oddity? ed. Thorsten Beck and Hans-Helmut Kotz (CEPR Press 2017). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How Social Science Creates the World is based on an in-depth filmed conversation between Howard Burton and UC Berkeley political scientist Professor Mark Bevir. Mark Bevir is an internationally acclaimed expert in the theory of governance. This thought-provoking conversation explores how attempts to shoehorn political science into a natural science framework commonly fail and how correctly appreciating what social science is and does has a direct bearing on our everyday social lives. By adopting the false belief that the social world is composed of some unchanging, fundamental entities on par with atoms or molecules—be they markets or classes or what have you—we will have no means of recognizing, or even describing, what happens when circumstances change and a new social dynamic is created. Howard Burton is the founder of the Ideas Roadshow, Ideas on Film and host of the Ideas Roadshow Podcast. He can be reached at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Americans rely on credit to provide for their food, clothing, shelter, transportation, and other daily necessities and the 2008 financial crisis demonstrated how they relied on private financial institutions that encouraged risky lending practices. Yet federal policy makers did little to change their approach to curbing risky lending practices and there was little political response from consumers or consumer groups. How can political scientists explain the behavior of government actors, interest groups, or borrowers? In Democracy Declined: The Failed Politics of Consumer Financial Protection (U Chicago Press, 2020), Dr. SoRelle insists that the expansion of consumer financing -- in terms of access and economic significance -- is fundamentally a political issue with serious political and economic consequences. She offers a policy-centered explanation sensitive to what she calls regulatory feedback effects that shape the behavior of bureaucrats, consumer advocates, and ordinary Americans. Individuals did not fail – they responded to systemic incentives and goals. SoRelle explains how angry borrowers' experiences with nearly invisible government policies teach them to focus their attention primarily on banks and lenders instead of demanding that lawmakers address predatory behavior. As a result, advocacy groups have been mostly unsuccessful in mobilizing borrowers in support of stronger consumer financial protections. The absence of safeguards on consumer financing is particularly dangerous because the consequences extend well beyond harm to individuals--they threaten the stability of entire economies. In addition to explaining the political dynamics of failure, SoRelle identifies possible remedies. This multi-method scholarship contributes to our understanding of policy feedback in an important and timely case study. Dr. Mallory E. SoRelle is an assistant professor at the Sanford School of Public Policy at Duke University. Her research interrogates how public policies are produced by, and how they reproduce, socioeconomic and political inequality in the United States. She has worked in both electoral politics and consumer advocacy. The podcast drops the week of the 10th anniversary of the Consumer Financial Protection Bureau. Susan Liebell is an associate professor of political science at Saint Joseph’s University in Philadelphia. Why Diehard Originalists Aren’t Really Originalists appeared in the Washington Post’s Monkey Cage and “Sensitive Places: Originalism, Gender, and the Myth Self-Defense in District of Columbia v. Heller” can be found in July 2021’s Polity. Email her comments at [email protected] or tweet to @SusanLiebell. 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 Economics of Sustainable Food: Smart Policies for Health and the Planet (Island Press, 2021), Dr. Nicoletta Batini, and co-authors, unpack the true cost of food production. While the Green Revolution served a purpose, Dr. Batini makes the case that the industrial food complex continues to cause tremendous global economic losses in terms of malnutrition, diseases, and environmental degradation. To ensure we do not exceed the 1.5oC target, the book offers the Great Food Transformation (GFT) as a solution. The GFT entails, (1) halving animal-based food production and increasing plant-based production, (2) shifting to organic, regenerative farming, and (3) rewilding, reforesting, and afforesting land. In this interview, Dr. Batini discusses the economics and policy mechanisms to make the GFT possible. Some of the mechanisms discussed include taxes, labor market reform, alongside regulation in cases where market incentives are unlikely to work or to work fast enough. We discuss the important differences in the GFT between “advanced economies” and “less-advanced economies,” with case studies that highlight successes in both. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

If the 20th Century was the American Century, it was also UPS's Century. Joe Allen's The Package King: A Rank and File History of UPS (‎Haymarket Books, 2020), tears down the Brown Wall surrounding one of America's most admired companies—the United Parcel Service (UPS). The company that we see everyday but know so little about. How did a company that began as a bicycle messenger service in Seattle, Washington become a global behemoth? How did it displace General Motors, the very symbol of American capitalism, to become the largest, private sector, unionized employer in the United States? And, at what cost to its workers and surrounding communities? Will it remain the Package King in the 21st Century or will be dethroned by Amazon? Joe Allen worked for nearly a decade at UPS between its Watertown, Massachusetts and Chicago, Illinois Jefferson Street hubs. Allen's work life has largely involved different sections of freight and logistics including for such major employers as A.P.A Transport (Canton, Mass.), Yellow Freight (Maspeth, NY), and UPS. He has been a member of several Teamster local unions and a member of Teamsters for a Democratic Union. Schneur Zalman Newfield is an Assistant Professor of Sociology at Borough of Manhattan Community College, City University of New York, and the author of Degrees of Separation: Identity Formation While Leaving Ultra-Orthodox Judaism (Temple University Press, 2020). Visit him online at ZalmanNewfield.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In India, elite law firms offer a surprising oasis for women within a hostile, predominantly male industry. Less than 10 percent of the country's lawyers are female, but women in the most prestigious firms are significantly represented both at entry and partnership. Elite workspaces are notorious for being unfriendly to new actors, so what allows for aberration in certain workspaces? Drawing from observations and interviews with more than 130 elite professionals, Accidental Feminism: Gender Parity and Selective Mobility Among India’s Professional Elite (Princeton UP, 2021) examines how a range of underlying mechanisms-gendered socialization and essentialism, family structures and dynamics, and firm and regulatory histories-afford certain professionals egalitarian outcomes that are not available to their local and global peers. Juxtaposing findings on the legal profession with those on elite consulting firms, Swethaa Ballakrishnen reveals that parity arises not from a commitment to create feminist organizations, but from structural factors that incidentally come together to do gender differently. Simultaneously, their research offers notes of caution: while conditional convergence may create equality in ways that more targeted endeavors fail to achieve, "accidental" developments are hard to replicate, and are, in this case, buttressed by embedded inequalities. Ballakrishnen examines whether gender parity produced without institutional sanction should still be considered feminist. In offering new ways to think about equality movements and outcomes, Accidental Feminism forces readers to critically consider the work of intention in progress narratives. Noopur Raval is a postdoctoral researcher working at the intersection of Information Studies, STS, Media Studies and Anthropology. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Popular discussions of China’s growth prospects often focus on the success or failure specific industries. They might address the challenges rising wages pose to the export manufacturing sector, or the emergence of the new data-fueled tech sector. But one of the most important determinants of a country’s long-run economic growth is human capital—the education and health of its people. In Toxic Politics: China's Environmental Health Crisis and its Challenge to the Chinese State (Cambridge UP, 2020), Yanzhong Huang shows how China’s environmental problems have created a health crisis with long-run consequences. It then digs into the reasons why despite all the centralized power China’s leaders showed in dealing with the COVID-19 outbreak, these same leaders have found it difficult to address the country’s rampant air, water, and soil pollution. The institutional problems in the Chinese system highlighted by this book go far beyond the environmental sphere. This makes the book an excellent way to learn about the challenges China’s leaders face in any domain of policy implementation, whether it be pushing forward domestic economic reforms on their own initiative or implementing international agreements around trade and climate change. Yanzhong Huang is a professor at the School of Diplomacy and International Relations at Seton Hall University, where he directs the school’s Center for Global Health Studies. He is also a Senior Fellow for Global Health at the Council on Foreign Relations and the founding editor of Global Health Governance: The Scholarly Journal for the New Health Security Paradigm. He received his PhD in Political Science from the University of Chicago. Recommendation from Professor Huang: The Plague Year: America in the Time of COVID, by Lawrence Wright. Recommendation from Peter Lorentzen: Scott Rozelle and Natalie Hell’s Invisible China on the failure of China’s educational system to serve the majority of its population. Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco, where he leads a new digital economy-focused Master's program in Applied Economics. His research examines the political economy of governance and development in China. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Welcome to The Academic Life. You are smart and capable, but you aren’t an island, and neither are we. So we reached across our mentor network to bring you podcasts on everything from how to finish that project, to how to take care of your beautiful mind. Wish we’d bring in an expert about something? DM us your suggestion on Twitter: The Academic Life @AcademicLifeNBN. In this episode you’ll hear about: Ros Pyne’s path through higher education, how she found her way to her current job, her role at Bloomsbury Publishers, what Open Access [OA] is and is not, how OA can democratize knowledge, and what she’s hopeful about. Our guest is: Ros Pyne, who is the Global Director of Research and Open Access at Bloomsbury Publishers. She has worked in academic publishing since 2007, initially as an editor, and for the last eight years in roles focusing on open access. She has a particular interest in bringing open access to long-form scholarship and to the humanities, and is the co-author of several reports on open access books. She holds a degree in English from the University of Cambridge, and an MA in early modern English literature from King’s College London. Our host is: Dr. Christina Gessler, a historian of women and gender. Listeners to this episode might be interested in: Open access at Bloomsbury Directory of Open Access Books OAPEN OA Books Toolkit (for anyone interested in learning more about what open access books are and how they work) Open Access Books Network (a free online network for people working on open access books or interested in getting involved) Open Access and the Humanities (a 2014 book by an open access expert Martin Paul Eve that’s still an excellent primer on this topic) Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Between 1949 and 1997, Hong Kong transformed from a struggling British colonial outpost into a global financial capital. Made in Hong Kong: Transpacific Networks and a New History of Globalization (Columbia University Press, 2021) delivers a new narrative of this metamorphosis, revealing Hong Kong both as a critical engine in the expansion and remaking of postwar global capitalism and as the linchpin of Sino-U.S. trade since the 1970s. In Made in Hong Kong, Peter E. Hamilton explores the role of an overlooked transnational Chinese elite who fled to Hong Kong amid war and revolution. Despite losing material possessions, these industrialists, bankers, academics, and other professionals retained crucial connections to the United States. They used these relationships to enmesh themselves and Hong Kong with the U.S. through commercial ties and higher education. By the 1960s, Hong Kong had become a manufacturing powerhouse supplying American consumers, and by the 1970s it was the world’s largest sender of foreign students to American colleges and universities. Hong Kong’s reorientation toward U.S. international leadership enabled its transplanted Chinese elites to benefit from expanding American influence in Asia and positioned them to act as shepherds to China’s reengagement with global capitalism. After China’s reforms accelerated under Deng Xiaoping, Hong Kong became a crucial node for China’s export-driven development, connecting Chinese labor with the U.S. market. Peter E. Hamilton is a historian of China and the World. From fall 2021, he will be Assistant Professor in World History at Lingnan University in Hong Kong. His research has been published in Twentieth-Century China, The International History of Review, The Journal of Historical Sociology, and numerous media outlets. Ghassan Moazzin is an Assistant Professor at the Hong Kong Institute for the Humanities and Social Sciences and the Department of History at the University of Hong Kong. He works on the economic and business history of 19th and 20th century China, with a particular focus on the history of foreign banking, international finance and electricity in modern China. His first book, tentatively titled Banking on the Chinese Frontier: Foreign Banks and Global Finance in Modern China, 1870–1919, is forthcoming with Cambridge University Press. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics