New Books in Economics

The UK’s transition from legally withdrawing from the EU to leaving the union’s single market will come to an end at midnight on December 31 with no successor trade agreement yet in place. For the UK’s financial sector, which accounts for 7% of the country’s economy and a million of its jobs, whether there is such an agreement and what shape it takes really matters. In Brexit and Financial Regulation (Oxford University Press, 2020), co-editors Jonathan Herbst and Simon Lovegrove have corralled 26 lawyers from 12 leading firms and chambers to explain why. Between them, they cover the history of the withdrawal process, the likely impact of Brexit on regulations of everything from how bankers are rewarded for success to how insolvent banks are wound up, and what could happen next in the negotiations. Jonathan Herbst is Global Head of Financial Services Regulation at law firm Norton Rose Fulbright. Tim Gwynn Jones is an economic and political-risk analyst at Medley Global Advisors. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Why Do Unnecessary and Often Counter-Productive Medical Interventions Happen So Often? Today I talked to Paul Offit about his book Overkill: When Modern Medicine Goes Too Far (HarperCollins, 2020) Offit is a professor of pediatrics at the University of Pennsylvania and the director of the Vaccine Education Center at the Children’s Hospital of Philadelphia. A prolific author, he’s also well known for being the public face of the scientific consensus that vaccines have no association with autism. Topics covered in this episode include: The degree to which opportunities to make money and avoid law suits drives the behavior of doctors, though inertia and unwillingness to accept advances in knowledge are also common explanations for being at times too active in treating patients. How the marketing campaigns of pharmaceutical companies can warp treatment plans. The conclusions from countless studies that in at least the 15 common medical interventions covered in this book, many patients are better off with more basic, common sense approaches like eating well, exercise, et cetera. Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. To check out his “Faces of the Week” 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

America's Inequality Trap (University of Chicago Press, 2020) focuses on the relationship between economic inequality and American politics. Nathan J. Kelly, Professor of Political Science at the University of Tennessee, argues that the increasing concentration of economic power effects political power, thus allowing the gap between the rich and everyone else to become more acute and more rigid. The increasing level of inequality, according to Kelly, also tends to be reinforced by public policies. This then creates a self-perpetuating plutocracy because those with more economic resources will have more political power or the capacity to influence those with political power and the kinds of policies that are being made. Thus, we have the theory of the inequality trap. Kelly’s analysis is fairly specific to the United States, since the inequality trap itself combines aspects of the American political system that are rather unique, but he notes that the trip is not exclusive to the U.S., it is part of a “more general phenomenon.” In order to understand this inequality trap, Kelly’s research links politics, policy, and income inequality. He then explores different pathways that contribute to establishing and perpetuating this system, which concentrates more and more wealth in fewer and fewer hands. Each chapter assesses a different pathway: public opinion, elections, inegalitarian policy convergence, and policy stagnation, all of which contribute to economic inequality in the United States and how it operates within the political system. Public opinion and elections center around political attitudes and behavior while inegalitarian policy convergence and policy stagnation focus on policy-making institutions and processes. Each pathway shares the same outcome that they contribute to the inequality trap in which only those who are wealthy benefit from it. In analyzing the effects of high inequality on each of the pathways, Kelly exposes the pattern of political response, or non-response, to the problem of inequality and the role of partisan politics within these dynamics. Kelly also emphasizes that racial bias and economic inequality play a substantial role in political decision making, especially in public opinion and elections. These distinct areas often have some overlap in terms of voter engagement and political behavior and choices and, according to the research, this also helps us understand the outcome in the 2016 presidential election. America’s Inequality Trap concludes with a discussion about economic inequality before the Great Depression and the Great Recession. Both events occurred during times of high economic inequality but there were distinct differences in the political response to that inequality and the economic collapses that followed. Kelly explains how and why the political responses differed, and by comparing the two, he suggests possible strategies for escaping the ongoing inequality trap. Daniella Campos assisted with this podcast. Lilly J. Goren is professor of political science at Carroll University in Waukesha, WI. She is co-editor of the award winning book, Women and the White House: Gender, Popular Culture, and Presidential Politics (University Press of Kentucky, 2012), as well as co-editor of Mad Men and Politics: Nostalgia and the Remaking of Modern America (Bloomsbury Academic, 2015). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Saint Lucia’s rural landscape is more forested today than at any time in at least seventy-five years (probably much longer). This change is profoundly significant given widespread efforts to achieve sustainable development on small-island states like Saint Lucia. Yet, this seemingly good-news story runs contrary to most conventional narratives about the worsening state of the environment in the Caribbean and elsewhere. How did this remarkable change come about? What role did government, the private sector and other actors play in this? What are the links between this environmental change and wider changes in the Saint Lucian economy, politics and society? Is there more to this story than meets the eye? These questions are explored in this interdisciplinary study of changing human-environment relations since the Second World War. Brad Walter's book The Greening of Saint Lucia: Economic Development and Environmental Change in the West Indies (UWI Press, 2019) is based on the results of a long-term, field-based research project that began in 2006. It entails the application of a novel research methodology for doing human-environment research (ACE: abductive causal eventism) that the author co-developed with a colleague from Rutgers University. This causal-historical methodology allows for the rigorous integration of findings derived from natural and social science sources, including ecological and air photo assessments, interviews, secondary data sources, and archival investigations. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

When most Westerners think of the Gulf, the first thing that comes to mind is often oil. However, as Adam Hanieh demonstrates in Money, Markets, and Monarchies: The Gulf Cooperation Council and the Political Economy of the Contemporary Middle East (Cambridge UP, 2018), the economies of Saudi Arabia, the UAE, Qatar, Oman, Bahrain, and Kuwait are about more than just the “black gold.” Conglomerates and state-owned firms from this region have become major players throughout the Middle East and the broader global economies in sectors like agribusiness, finance, real estate, and logistics. In the process, processes of class and state formation in the Gulf have become inextricably tied up with political and economic developments in the broader Middle East, as the valorization of Gulf oil surpluses has come to depend on access to markets for land (both urban and rural) throughout the region. Hanieh analyzes how the Gulf states’ quest for food security in the wake of the food price increases of the late 2000s has affected agrarian class relations in Egypt and other countries, how Gulf capital has contributed to market-led remaking of cities throughout the region, and how Gulf control of Arab state financial reserves has given GCC countries tremendous geopolitical and economic leverage over their neighbors. Furthermore, Hanieh shows that the boundary between public and private interests in the Gulf states is blurred by the close relationships between wealthy private businesses and patrimonial monarchies, and capital accumulation in the region depends on the hyper-exploitation of foreign guest workers, who can easily be deported if they demand higher wages or go on strike. Money, Markets, and Monarchies dispels widespread myths about the political economies of the Gulf while providing a distinct vantage point for exploring the complex geographies of global capitalism. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Walking the Highwire: Rebalancing the European Economy in Crisis (Palgrave Macmillan, 2020) tells the story of the Eurozone’s crisis from the perspective of an insider who now sits on the European Central Bank’s governing council. Part-policy proposal, part-autobiography, and part-political memoir, at the heart of Walking The Highwire are the four critical years from 2010 to 2014 when Olli Rehn served as European Commissioner for economic and monetary affairs. The book tells us what took a football-mad boy from Southern Savonia to Brussels – via Oxford and Minnesota – and reveals the behind-the-scenes fights and compromises that shaped the crisis and pulled the euro from the brink. Olli Rehn has been governor of the Bank of Finland since 2018, was Finnish minister of economic affairs (2015-2016), European Commissioner for economic and monetary affairs (2010-2014), and commissioner for enlargement (2004-2010). He holds a doctorate from the University of Oxford in international political economy. Tim Gwynn Jones is an economic and political-risk analyst at Medley Global Advisors. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Should climate change policy be subject to a cost-benefit analysis leading to a variety of policy choices? Or is it so critical that the only "proper" path is immediate and extreme carbon reduction, regardless of the costs and the impact of those measures on the welfare of the population? Bjorn Lomborg's new and controversial work, False Alarm: How Climate Change Panic Costs Us Trillions, Hurts the Poor, and Fails to Fix the Planet (Basic Books, 2020) leans strongly in the direction of the former. Conducting that analysis, he comes to some shocking conclusions, notably that the "optimal" mix of global warming and economic activity sees a 6 degree or so increase in global temperatures by the end of the century. Yes, shocking. Other than some low-hanging fruit in carbon reduction through a global carbon tax, he argues that the economic math of more severe carbon reduction is challenging. Instead, Lomborg advocates more investment in poverty reduction that allows people at risk of suffering from climate change to better adapt to higher temperatures and more extreme weather. Less controversially, he supports a massive increase in green energy R&D. Some NBN listeners will likely disagree with Lomborg's stance, perhaps with his basic cost-benefit framework and most certainly with his conclusions, but all participants in the debate should be aware of this approach. Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter @Back2BizBook or at http://www.strategicdividendinvestor.com Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Kerri Arsenault grew up in the rural working-class town of Mexico, Maine. For over 100 years the community orbited around a paper mill that employs most townspeople, including three generations of Arsenault’s own family. Years after she moved away, Arsenault realized the price she paid for her seemingly secure childhood. The mill, while providing livelihoods for nearly everyone, also contributed to the destruction of the environment and the decline of the town’s economic, physical, and emotional health in a slow-moving catastrophe, earning the area the nickname “Cancer Valley.” Mill Town: Reckoning with What Remains (St. Martin's Press, 2020) is an personal investigation, where Arsenault sifts through historical archives and scientific reports, talks to family and neighbors, and examines her own childhood to illuminate the rise and collapse of the working class, the hazards of loving and leaving home, and the ambiguous nature of toxics and disease. Mill Town is a moral wake-up call that asks, Whose lives are we willing to sacrifice for our own survival? Kerri Arsenault is a book critic, book editor at Orion magazine, and a contributing editor at The Literary Hub. Twitter. Website. Brian Hamilton is a Ph.D. candidate at the University of Wisconsin–Madison where he is researching African American environmental history. A Maine native, he lives in Western Massachusetts and teaches at Deerfield Academy. Twitter. Website. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Ravi Palat’s The Making of an Indian Ocean World-Economy, 1250–1650: Princes, Paddy fields, and Bazaars (Palgrave, 2015) counters eurocentric notions of long-term historical change by drawing upon the histories of societies based on wet-rice cultivation to chart an alternate pattern of social evolution and state formation. It traces inter-state linkages and the growth of commercialization without capitalism in the Indian Ocean World. Dr. Ravi Palat is professor of sociology at SUNY Binghamton. His research interests include world-systems analysis, historical sociology, political economy, and the sociology of food. Currently working on cuisine as an element of state formation and the cultivation of a national culture; on the Americas in the making of early modern world-economies in Asia; on the parallel transformations of China and India since the mid-1800s; and on a critique of contemporary area studies. Earlier work centered on the political economy of east and southeast Asia in the context of contemporary transformations of the capitalist world-economy; and on the making of an Indian Ocean world-economy. Ahmed Yaqoub AlMaazmi is a Ph.D. candidate at Princeton University. His research focuses on the intersection of law and the environment across the Western Indian Ocean. He can be reached by email at [email protected] or on Twitter @Ahmed_Yaqoub. Listeners’ feedback, questions, and book suggestions are most welcome. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Rulers, Religion, and Riches: Why the West Got Rich and the Middle East Did Not (Cambridge UP, 2020) addresses one of the big questions in economics and economic history: why did the modern economy emerge in northwestern Europe at some point in the 17th or 18th century but not in the Middle East? After all, for centuries following the spread of Islam, the Middle East was far ahead of Europe – on both technological and economic terms. Jared Rubin argues that the religion itself is not to blame; the importance of religious legitimacy in Middle Eastern politics was the primary factor. In much of the Muslim world, religious authorities were given an important seat at the political bargaining table, which they used to block important advancements such as the printing press and usury. In Europe, however, the Church played a weaker role in legitimizing rule, especially where Protestantism spread (indeed, the Reformation was successful due to the spread of printing, which was blocked in the Middle East). It was precisely in those Protestant nations, especially England and the Dutch Republic, where the modern economy was born. In this interview, Jared shares with us his opinions on a wide range of topics – from the work of Jared Diamond and the theories of Max Weber, to his serendipitous journey in academia that led him to write his first book. Joshua Tham is an undergraduate reading History at the London School of Economics and Political Science. His research interests include economic history, sociolinguistics, and the "linguistic turn" in historiography. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

What does it take to both fit in and yet also prosper and grow as a person in the workplace? In today's interview, I discuss this question and others with noted psychologist Arthur B. Markman. Markman is a professor of Psychology and Marketing at the University of Texas at Austin, where he also runs the university’s Human Dimensions of Organizations program. Besides his books, Art writes blogs for Psychology Today and Fast Company, and has a radio show/podcast called Two Guys on Your Head. Topics covered in this episode include: The emotions that often get exhibited in relation to each of the Big 5 traits of Openness, Conscientiousness, Extraversion, Agreeableness and Neuroticism – as well as how a “dream team” working on a special project will embody a variety of those traits. What it means to be a boss who punishes negligence instead of failure. What are the kinds of signals you should be alert to in a job interview in order to get a grasp on what kind of corporate culture you might be stepping into. Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). To check out his “Faces of the Week” 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

First published in 1992 before the creation of the euro, Paul De Grauwe’s Economics of Monetary Union (Oxford University Press, 2020) has become a standard text for undergraduates seeking to understand this remarkable but “fragile” project. Updated every two years and now in its 13th edition, the book can hardly keep up with economic and policy developments in the 19-nation Euro Area. But De Grauwe, who is still teaching at the London School of Economics after retiring from the Katholieke Universiteit Leuven, can always be relied upon to plug the gaps with policy ideas. In the latest of these, he made the case for the European Central Bank to monetize governments’ pandemic-related deficits. Paul De Grauwe is the John Paulson Chair in European Political Economy at the LSE’s European Institute. Tim G. Jones is an economic and political-risk analyst at Medley Global Advisors. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Many on the Left see the European Union as a fundamentally benign project with the potential to underpin ever greater cooperation and progress. If it has drifted rightward, the answer is to fight for reform from within. In this iconoclastic polemic, economist Costas Lapavitsas demolishes this view. In The Left Case Against the EU (Polity, 2018), he contends that the EU's response to the Eurozone crisis represents the ultimate transformation of the union into a neoliberal citadel that institutionally embeds austerity, privatization, and wage cuts. Concurrently, the rise of German hegemony has divided the EU into an unstable core and dependent peripheries. These related developments make the EU impervious to meaningful reform. The solution is therefore a direct challenge to the EU project that stresses popular and national sovereignty as preconditions for true internationalist socialism. Lapavitsas's powerful manifesto for a left opposition to the EU upends the wishful thinking that often characterizes the debate and will be a challenging read for all on the Left interested in the future of Europe. Costas Lapavitsas is Professor of Economics at the School of Oriental and African Studies, University of London. His research during the last few years has focused on the Eurozone and the financialization of capitalism. He has published widely in the academic field and writes frequently for the international and the Greek press. In January 2015 he was elected in the Greek Parliament with the incoming SYRIZA party, but left in August 2015 when the third bail-out of Greece was signed. His most recent books include Capitalism in the Ottoman Balkans, with P. Cakiroglu, I.B.Tauris, 2019, The Left Case Against the EU, Polity Press, 2018, Against the Troika: Crisis and Austerity in the Eurozone, with H. Flassbeck, Verso, 2015, and Profiting Without Producing, Verso, 2013. Daniel Lucas is a student at the University of Groningen, studying European and International law. Please contact through [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

What are best-practices for alleviating stress in the workplace? Today I talked to Cary Cooper about his new book The Apology Impulse: How the Business World Ruined Sorry and Why We Can’t Stop Saying It (Kogan Page, 2020). Cooper explains why managers should say “Sorry, I Wasn’t Feeling." Cooper is the author/editor of over 250 books, and the president of the British Academy of Management. An advisor to the World Health Organization and the EU, he’s received both a knighthood and the CBE award from the Queen of England for “extraordinary contributions” to society. Topics covered in this episode include: The difference between operational and cultural failures, and why CEOs find it easier to apologize for the latter by pretending the problem has to do with the former. The percentage of workers who feel bullied by a boss at work on a constant basis, and Cooper’s estimation of the percentage of bosses who won’t be able to benefit from EQ-training and, therefore, should be given roles that don’t involve managing people. What the implications and solutions for huge CEO pay amid what could now prove to be the single most significant economic downturn in our lives (due to Covid-19). Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). To check out his “Faces of the Week” 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

Legal and political theories are not descriptions of brute facts. Nor are they merely postulated ideals or aspirations. Theories reflect and are reflected in our social relationships … Moral and political values thus cannot and should not be discussed in isolation from the institutions and social histories that shaped them. – N.E. Simmonds cited in Raymond Wacks, Understanding Jurisprudence (2005) Considering the law as a social phenomenon intrinsic to political economy is key to engaging the work in this new volume of scholarly articles edited by Professor Poul Kjaer – The Law of Political Economy: Transformation in the Function of Law (Cambridge University Press, 2020). The book is relevant on many levels to the events unfolding around us including unresolved issues between the private and the public realms (e.g., think banking and government in relation to the Global Financial Crisis of 2008). Current manifestations (post-book publication) include the ruling of the German Constitutional Court in May, which at core, appears to challenge the legitimacy of EU law for German financial interests. However distant such regulatory and legal matters may, at first appear, the idea that theories ‘are reflected in our social relationships’ anchors a more general observation made in this book’s introductory chapter concerning theoretical architectures as differentiating ‘between a holistic or a differentiation-based worldview, that is, between an understanding of society as a whole, which is larger than the sum of its parts, or an understanding of society as a mere collection of differentiated parts.’ In this NBn episode, Professor Poul Kjaer distinguishes such concepts among others, and sets the context for those with an interest in learning about ‘the law and political economy’ as a field of study including an explanation of the differences between the European and American approaches to this field. Some other points of elaboration include more detailed thoughts on his introductory chapter, his previous books dealing with governance and governing, corporatism’s many guises, intermediary institutions as key locations for social integration and dis-integration, the concept of crisis and how law regulates the economy and politics, with Georg Simmel, in a sense, underlying it all with the question: ‘how is society possible?’ Professor Kjaer explains key concepts and thinkers in this field as he provides a lay of the land as surveyed from the ‘Copenhagen School’. He also shares his impressions with the book editing process, and some of the more foundational concepts and sources. The book brings ‘together an exceptional group of scholars’ providing a ‘novel conceptual framework for studying the role of law and legal instruments in political economy contexts, with a focus on historical transformations and central challenges in both European and global contexts’. This volume’s many contributions cover legal subfields ‘ranging from competition and consumer protection law to labour and environmental law, giving a comprehensive overview of the central challenges of the law of political economy.’ It should be added that the 15 chapters are compellingly written, and the book is available in hardcover and Kindle. Poul F. Kjaer is a professor at the Copenhagen Business School (CBS) in Denmark with a research focus on European and global governance, the law and political economy. Keith Krueger lectures at the SHU-UTS Business School in Shanghai. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Why is the corporate fallback being “analytical” (as opposed to nurturing creativity)? Today I talked to Nir Bashan about his new book The Creator Mindset: 92 Tools to Unlock the Secrets to Innovation, Growth, and Sustainability (McGraw-Hill, 2020) Bashan is a creativity expert who has spent the past two decades devising a formula for sustained creativity. Besides his blue-chip corporate clients, Bashan has also worked on album, movies and advertisements for people like Rod Stewart and Woody Harrelson, won a Clio and been nominated for an Emmy. This is his first book. Topics covered in this episode include: Creativity’s three unlikely personal traits (hint: courage is one of them). Why self-doubt and complacency are both threats to successful innovation, and how to overcome each in turn. Design obstacles Bashan has witnessed, plus five more from my book Emotionomics. Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). To check out his “Faces of the Week” 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 early twentieth-century China, Chen Diexian (1879–1940) was a maverick entrepreneur—at once a prolific man of letters and captain of industry, a magazine editor and cosmetics magnate. He tinkered with chemistry in his private studio, used local cuttlefish to source magnesium carbonate, and published manufacturing tips in how-to columns. In a rapidly changing society, Chen copied foreign technologies and translated manufacturing processes from abroad to produce adaptations of global commodities that bested foreign brands. Engaging in the worlds of journalism, industry, and commerce, he drew on literati practices associated with late-imperial elites but deployed them in novel ways within a culture of educated tinkering that generated industrial innovation. Through the lens of Chen’s career, Eugenia Lean explores how unlikely individuals devised unconventional, homegrown approaches to industry and science in early twentieth-century China. She contends that Chen’s activities exemplify “vernacular industrialism,” the pursuit of industry and science outside of conventional venues, often involving ad hoc forms of knowledge and material work. Lean shows how vernacular industrialists accessed worldwide circuits of law and science and experimented with local and global processes of manufacturing to navigate, innovate, and compete in global capitalism. In doing so, they presaged the approach that has helped fuel China’s economic ascent in the twenty-first century. Rather than conventional narratives that depict China as belatedly borrowing from Western technology, Vernacular Industrialism in China: Local Innovation and Translated Technologies in the Making of a Cosmetics Empire, 1900-1940 (Columbia University Press) offers a new understanding of industrialization, going beyond material factors to show the central role of culture and knowledge production in technological and industrial change. Eugenia Lean is professor of history and East Asian languages and cultures and current director of the Weatherhead East Asian Institute at Columbia University. This interview was conducted by Lukas Rieppel, a historian of science and capitalism at Brown University. You can learn more about his research here, or find him on twitter here. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Robert Sroufe and Steven Melnyk's Developing Sustainable Supply Chains to Drive Value (Business Expert Press) provides a multi-perspective approach to sustainability and value chains to allow understanding from a variety of disciplines and professional backgrounds. Some of the key features of this book include: Short vignettes of important trends along with relevant management issues; Evidence-based management examples from leading multinational companies, small, and medium enterprises spanning supply chains; References to appropriate tools, emerging technology, and practices; Chapter action items for the reader to take a deeper look at integration opportunities involving sustainability and supply chain management; An action-learning approach to applying concepts and tools so readers from any functional perspective can implement and manage sustainability projects including; Guidelines on how to move forward with your first supply chain sustainability initiative. Robert Sroufe is Ph.D., Operations, Michigan State University M.B.A., Materials and Logistics Management, Michigan State University. Tricia Keffer ASLA, MLA Landscape Architecture with a design practice in the Florida Keys PlantsPeopleLove.com Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Dismal spending on government health services is often considered a necessary consequence of a low per-capita GDP, but are poor patients in poor countries really fated to be denied the fruits of modern medicine? In many countries, officials speak of proper health care as a luxury, and convincing politicians to ensure citizens have access to quality health services is a constant struggle. Yet, in many of the poorest nations, health care has long received a tiny share of public spending. Colonial and postcolonial governments alike have used political, rhetorical, and even martial campaigns to rebuff demands by patients and health professionals for improved medical provision, even when more funds were available. No More to Spend: Neglect and the Construction of Scarcity in Malawi's History of Health Care (Oxford University Press, 2020) challenges the inevitability of inadequate social services in twentieth-century Africa, focusing on the political history of Malawi. Using the stories of doctors, patients, and political leaders, Luke Messac demonstrates how both colonial and postcolonial administrations in this nation used claims of scarcity to justify the poor state of health care. During periods of burgeoning global discourse on welfare and social protection, forestalling improvements in health care required varied forms of rationalization and denial. Calls for better medical care compelled governments, like that of Malawi, to either increase public health spending or offer reasons for their inaction. Because medical care is still sparse in many regions in Africa, the recurring tactics for prolonged neglect have important implications for global health today. Luke Messac is a resident in emergency medicine at Brown University. He received his M.D. and Ph.D. (History and the Sociology of Science) from the University of Pennsylvania. Bekeh Utietiang Ukelina is an Assistant Professor of History at SUNY, Cortland. His research examines the ideologies and practices of development in Africa, south of the Sahara. He is the author of The Second Colonial Occupation: Development Planning, Agriculture, and the Legacies of British Rule in Nigeria. For more NBN interviews, follow him on Twitter @bekeh or head to bekeh.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Warning: Economics. In this episode, we begin with Eisler’s testimony before the skeptical Senators of the Committee on Banking and Currency in Washington, D.C. on January 20, 1934, in which he proposed that the nation adopt a dual currency system to control inflation and end the Great Depression. I (a non-economist) talk about what this means with noted economist Miles Kimball, who has recently brought renewed attention to Eisler’s plan in his own work. We also learn about Eisler’s theory of who actually wrote what we call the Gospel of John, talk with Steven Wasserstrom about Eisler’s brief involvement with Carl Jung and the Eranos Conference, and interpret a “dream poem” that Eisler recorded at his mother’s house in 1936. Guests: Guests: Miles Kimball (The University of Colorado-Boulder), Steven Wasserstrom (Reed College). Voice of Robert Eisler: Caleb Crawford Additional voices: Brian Evans Music: “Shibbolet Baseda,” recorded by Elyakum Shapirra and His Israeli Orchestra. Funding provided by the Ohio University Humanities Research Fund and the Ohio University Honors Tutorial College Internship Program. Special thanks to the Warburg Institute. Bibliography and Further Reading Buiter, Willem H. “Is Numérairology the Future of Monetary Economics? Unbundling Numéraire and Medium of Exchange Through a Virtual Currency and a Shadow Exchange Rate.” NBER Working Papers 12839. National Bureau of Economic Research, Inc., 2007. DOI:10.3386/w12839. Buiter, Willem H. and Panigirtzoglou, Nikolaos. “Overcoming the Zero Bound: Gesell vs. Eisler. Discussion of Mitsuhiro Fukao’s “The Effects of ‘Gesell’ (Currency) Taxes in Promoting Japan’s Economic Recovery.” International Economics and Economic Policy 2, no. 2/3 (2005): 189-200. Eisler, Robert. The Enigma of the Fourth Gospel. London: Methuen & Co., 1938. ———. Stable Money: The Remedy for the Economic World Crisis: A Programme of Financial Reconstruction for the International Conference. London: The Search Publishing Co., Ltd., 1932. ———. This Money Maze: A Way Out of the Economic World Crisis. London: The Search Publishing Co., Ltd., 1931. ———. Das Geld: Seine geschichtliche Entstehung und gesellschaftliche Bedeutung. Munich: Diatypie, 1924. Eisler, Robert and Alec Wilson. The Money Machine: A Simple Introduction to the Eisler Plan. London: The Search Publishing Co., Ltd., 1933. Gold Reserve Act of 1934: Hearings Before the Committee on Banking and Currency, United States Senate, Seventy-Third Congress, Second Session on S. 2366: A Bill to Protect the Currency System of the United States, to Provide for the Better Use of the Monetary Gold Stock of the United States, and for Other Purposes, Revised January 19-23, 1934. Washington, D.C.: United States Government Printing Office, 1934 Hakl, Hans Thomas. Eranos: An Alternative Intellectual History of the Twentieth Century. Montreal: McGill-Queen’s University Press, 2013. Keynes, John Maynard, Paul R. Krugman, and Robert Jacob Alexander Skidelsky. The General Theory of Employment, Interest, and Money. Cham, Switzerland: Palgrave Macmillan, 2018. Kimball, Miles. “Pro Gauti Eggertsson.” Confessions of a Supply Side Liberal. June 27, 2016. Last Accessed July 7, 2020. Wasserstrom, Steven M. Religion after Religion: Gershom Scholem, Mircea Eliade, and Henry Corbin at Eranos. Princeton: Princeton University Press, 1999. Follow us on Twitter: @averysquarepeg Associate Professor Brian Collins is the Drs. Ram and Sushila Gawande Chair in Indian Religion and Philosophy at Ohio University. 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

Why do some countries pass legislation regulating carbon or protecting the environment while others do not? In his new book Carbon Captured: How Business and Labor Control Climate Politics (MIT Press, 2020), Matto Mildenberger (Assistant Professor of Political Science, University of California, Santa Barbara) uses a comparative analysis of Norway, Australia, and the United States to explain differences in climate policy-making . Mildenberger concludes that despite variation in policy preferences and governmental systems, business and labor interests have infiltrated the policy-making process to prevent governments from combating climate change with legislation. Mildenberger argues that carbon polluters capture governments through “double representation” because carbon polluters are represented regardless of what political coalition holds power. On the left, polluters are represented by labor unions who fear that increased regulations mean a decrease in jobs. On the right, polluters are represented by corporations who associate increased regulations with decreasing profits. Mildenberger asserts that the versatility of double representation makes it the most important factor in climate policy conflict across advanced economies. To support his theory, Mildenberger uses case studies of Australia, Norway, and the United States. Looking at these countries, Mildenberger describes two methods through which business and labor interests affect climate policy. One, where business or labor interests are part of a larger political coalition and use their position to participate in the writing of legislation. This results in weaker legislation. Alternatively, if business and labor interests are shut out of the political process, Mildenberger details how they mobilize the public against legislation making it less politically beneficial to take action. Mildenberger’s comparative analysis of carbon polluters and their influence on climate policy sheds new light on policy discrepancies around the world. Additionally, Mildenberger offers a guide for future policy makers to combat the double representation of carbon polluters. Adam Liebell-McLean assisted with this podcast. Susan Liebell is associate professor of political science at Saint Joseph’s University in Philadelphia. She is the author of Democracy, Intelligent Design, and Evolution: Science for Citizenship (Routledge, 2013) and, most recently, “Retreat from the Rule of Law: Locke and the Perils of Stand Your Ground” in the Journal of Politics (August 2020). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Integration has been a key theme across the general management, organizational behavior, supply chain management, strategy, information systems and the environmental management literature for decades. Sustainability continues to be, at the “top of the agenda” in the C-suite. Despite this, specialists in academia and organizations lack the peripheral vision to understand the power of a more integrated approach that will empower functional groups to become best-in-class without forcing trade-offs that pull down other groups connected to overall operations. Integrated Management is the key driver of innovation and profitability in progressive companies. It reduces risks while pursuing new opportunities, and the checks and balances for prudent management are baked in the strategy for modern go-to-market synergy and growth. What can be done, then, by individuals, functions, organizations, value chains, and even whole cities to integrate and align sustainability? In his book Integrated Management: How Sustainability Creates Value for Any Business (Emerald, 2018), Robert Sroufe answers this question. Sroufe considers the opportunity we have to enable an enterprise value proposition that includes environmental, social and governance (ESG) performance. Integrated management applies a proven strategic planning approach to uncover the tools and actions available for change management and performance measured with an Integrated Bottom Line (IBL). Using evidence based examples from best-in-practice enterprises, proven management tenets, models and tools alongside emerging technologies, we can develop integrated solutions aligned with the UN Sustainable Development Goals (SDGs). Tricia Keffer ASLA, MLA Landscape Architecture with a design practice in the Florida Keys PlantsPeopleLove.com Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How does avoidance of conflict ultimately create more conflict in the workplace? Today I talked to Caroline Stokes, author of Elephants Before Unicorns: Emotionally Intelligent HR Strategies to Save Your Company (Entrepreneur Press, 2019) Stokes is the CEO of FORWARD, and the podcast host of The Emotionally Intelligent Recruiter. She is an award-winning leadership coach and thinker, partnering with global leaders throughout their career and leadership cycle. Topics covered in this episode include: • The emotions that inadvertently inspire the behavior of both push-over and bully bosses, and the likely emotional responses of their direct reports. • How the risk of employee disengagement can get short-circuited before it happens. • What are steps that can ensure a better on-boarding experience for the new employee, including CEO’s (whose turn-over rate is 50% within the first 18 months on the job). Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. To check out his “Faces of the Week” 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

How do you value something? It seems simple enough. Since the beginning of commerce thousands of years ago, people have been asserting the value of enterprises. Yet, the math and specific logic of that exercise is only about a century old. For thirty of those years, Tim Koller and his colleagues at McKinsey, the consultancy, have been in the forefront of how to think about value and how to measure it. The first edition of Valuation: Measuring and Managing the Value of Companies (Wiley) came out in 1990; this is the seventh iteration, so Koller has been through numerous ups and downs. His calm and cool reasoning should be required reading for all business managers and investors. Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter @HistoryInvestor or at http://www.strategicdividendinvestor.com 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 spoke with Professor Peter J. Boettke, co-author of Public Governance and the Classical-Liberal Perspective (Oxford University Press, 2019) with Paul Dragos Aligica and Vlad Tarko. Dr Boettke is University Professor of Economics and Philosophy, Director of the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics, at George Mason University, USA. In our conversation we defined the disciplines of Public Choice and Public Administration and we named the key actors of a very long intellectual debate. We discussed the practical relevance (for policymakers and taxpayers) of this debate in economics and we also addressed contemporary issues such as the management of the Covid-19 crisis and the institutional architecture of police forces in the USA. The book is divided into three parts: Part I: A Distinctive Perspective on Governance: The Building Blocks; Part II: Public Choice and Public Administration: The Confluence; Part III: Framing the Applied Level: Themes, Issue Areas, and Cases. The book challenges some of the most ingrained views about an important intellectual tradition in political and administrative sciences thinking. It aims to demonstrate that there are alternative ways of defending democracy and liberal open societies in a theoretically sophisticated and feasible way. Building on the political economy principles underpinning the works of diverse authors such as Friedrich Hayek, James Buchanan and Vincent and Elinor Ostrom, this book challenges the technocratic-epistocratic perspective in which social goals are defined by an aggregated social function and experts simply provide the means to attain them. The authors argue that individualism, freedom of choice, and freedom of association have deep implications on how we design, manage and assess our public governance arrangements. The book examines the knowledge and incentive problems associated with bureaucratic public administration while contrasting it with democratic governance. This is a sophisticated, timely and important contribution that many will find interesting: economists, political scientists and policymakers. Andrea Bernardi is Senior Lecturer in Employment and Organization Studies at Oxford Brookes University in the UK. He holds a doctorate in Organization Theory from the University of Milan, Bicocca. He has held teaching and research positions in Italy, China and the UK. Among his research interests are the use of history in management studies, the co-operative sector, and Chinese co-operatives. His latest project is looking at health care in China. He is the co-convener of the EAEPE’s permanent track on Co-operative economy and collective ownership. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

What does it take for a company’s culture to enable ongoing growth? Today I talked to Charlene Li, author of The Disruption Mindset: Why Some Organizations Transform While Others Fail (IdeaPress, 2019). Li is the author of six books, including the New York Times bestseller, Open Leadership, and is also the co-author of Groundswell. She is the Founder and Senior Fellow at Altimeter, a research and consulting firm, as well as a graduate of Harvard College and Harvard Business School. Topics covered in this episode include: Five kinds of employees, and how that that model feeds into the four archetypes of disruptive leaders: steadfast managers, realist optimists, worried skeptics, and agent provocateurs. How mid-size companies can avoid the “permafrost” layer that limits the flexibility of larger companies. How is the challenge of being a disruptive leader different if you’re female or a minority member versus being a white male? Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). To check out his “Faces of the Week” 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

Keynes was not only an economist but the preeminent anti-authoritarian thinker of the 20th century, one who devoted his life to the belief that art and ideas could conquer war and deprivation. As a moral philosopher, political theorist, and statesman, Keynes led an extraordinary life that took him from intimate turn-of-the-century parties in London's Bloomsbury art scene to the fevered negotiations in Paris that shaped the Treaty of Versailles, from stock market crashes on two continents to diplomatic breakthroughs in the mountains of New Hampshire to wartime ballet openings at London's extravagant Covent Garden. Along the way, he reinvented Enlightenment liberalism to meet the harrowing crises of the 20th century and, in the United States, his ideas became both the foundation of a burgeoning economics profession and a flash point in the broader political struggle of the Cold War. Part biography and part intellectual history, Price of Peace: Money, Democracy, and the Life of John Maynard Keynes (Random House, 2020) from journalist Zachary Carter puts Keynes’s thinking on democracy and the good life into the centre of his thought with transformative implications for today's debates over inequality and the politics that shape the global order. Zachary D. Carter is a senior reporter at HuffPost, where he covers Congress, the White House, and economic policy. Tim Jones is an economic and political-risk analyst at Medley Global Advisors (FT Group) in London. 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 most enduring ideas in economics is that unemployment is both unavoidable and necessary for the smooth functioning of the economy. This assumption has provided cover for the devastating social and economic costs of job insecurity. It is also false. In this The Case for a Job Guarantee (Polity, 2020), Pavlina R. Tcherneva challenges us to imagine a world where the phantom of unemployment is banished and anyone who seeks decent, living-wage work can find it - guaranteed. This is the aim of the Job Guarantee proposal: to provide a voluntary employment opportunity in public service to anyone who needs it. Tcherneva enumerates the many advantages of the Job Guarantee over the status quo and proposes a blueprint for its implementation within the wider context of the need for a Green New Deal. Pavlina Tcherneva is Associate Professor at Bard College and Research Scholar at the Levy Economics Institute. Stephen Pimpare is Senior Lecturer in the Politics & Society Program and Faculty Fellow at the Carsey School of Public Policy at the University of New Hampshire. He is the author of The New Victorians (New Press, 2004), A People’s History of Poverty in America (New Press, 2008), winner of the Michael Harrington Award, and Ghettos, Tramps and Welfare Queens: Down and Out on the Silver Screen (Oxford, 2017). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Franchise: The Golden Arches in Black America (Liveright, 2020) by Marcia Chatelain is a fascinating examination of the relationship between the fast-food industry, Black business owners, and the communities where they set up franchises after the Holy Week Uprisings of 1968. Using McDonalds as a “prism” to study the expansion of the fast-food industry and the effects of Black capitalism, Franchise tells a complex origins story about Black franchisees and their reception in Black communities across the nation in Atlanta, Chicago, Portland, Cleveland, and Los Angeles after the classical phase of the Civil Rights Movement. Chatelain ultimately exposes the limits of Black entrepreneurship to supplant state responsibility to create socially and economically reparative conditions in Black communities, while demonstrating how a range of progressive Black politicians and activists came to support Black entrepreneurship as a solution to widespread federal and municipal disinvestment from Black communities. As Black franchise owners assisted the development of McDonalds into a wealthy and successful national brand, they also encountered glass-ceilings and discriminatory practices within McDonalds corporate and the larger business world despite their tremendous success compared to white counterparts. Chatelain traces these tensions and interconnections across political, business, and community stakeholders to explain how fast-food franchises ingratiated themselves into Black communities, while exasperating inequalities in Black America. Francise teaches readers to be skeptical of corporate or market-driven solutions whether articulated as Black capitalism or “empowerment,” especially during and after moments of Black uprising. Marcia Chatelain is a scholar, speaker, and strategist based in Washington, D.C. She teaches courses in African American life and culture at Georgetown University. Amanda Joyce Hall is a Ph.D. Candidate in History and African American Studies at Yale University. She is writing an international history on the grassroots movement against South African apartheid during the 1970s and 1980s. She tweets from @amandajoycehall Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How are we going to address inequality and put the economy on a sounder footing? Today I talked to Eric Lonergan and Mark Blyth about their new book Angrynomics (Agenda Publishing/Columbia University Press, 2020). Lonergan is an economist and macro fund manager in London whose writings often appear in The Financial Times. Blyth is a political economist at Brown University who received his PhD in political science from Columbia University. Topics covered in this episode include: --An exploration of how the emotions of anger, fear and disgust animate both the long-term economic stresses in society and those brought on by the Covid-19 crisis. --What the differences are between moral outrage versus tribal outrage. --Descriptions of three, potentially viable and game-changing solutions, including among them a “data dividend” and the creation of national wealth funds like those in Norway and beyond. Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). To check out his “Faces of the Week” 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 this episode (# 2), we discuss Eisler’s early years as a member of the Jewish bourgeoisie in turn-of-the-century Vienna with historian Steven Beller. We also hear from the closest living relative of Robert Eisler, his grand-nephew Richard Regen. Philosopher Tom Hurka provides some background for understanding the arguments Eisler is making in Studies in Value Theory, especially his critiques of hedonism and aesthetic philosophy. Finally, we look at the events surrounding Eisler’s dramatic arrest and trial for attempted art theft in Udine in 1907 and discuss its short- and long-term consequences. Voice of Robert Eisler: Caleb Crawford Additional voices: Brian Evans Editing and engineering: March Washelesky Music: “Shibbolet Baseda,” recorded by Elyakum Shapirra and his Israeli Orchestra. Guests: Steven Beller (independent scholar), Tom Hurka (Chancellor Henry N. R. Jackman Distinguished Professor of Philosophical Studies at the University of Toronto), Richard Regen (grand-nephew of Robert and Lili Eisler). Funding provided by the Ohio University Humanities Research Fund and the Ohio University Honors Tutorial College Internship Program. Special thanks to the Warburg Institute, the Griffith Institute at the University of Oxford, and to the Friends Historical Library at Swarthmore College. Bibliography and further reading: -Beller, Steven, ed. Rethinking Vienna 1900. New York: Berghahn Books, 2012. -Beller, Steven. Vienna and the Jews, 1867–1938: A Cultural History. New York: Cambridge University Press. 1989. -Eisler, Robert. “The Empiric Basis of Moral Obligation.” Ethics, Vol. 59, No. 2, Part 1 (Jan., 1949), pp. 77-94. -Eisler, Robert. “Der Wille zum Schmerz, Ein psychologisches Paradox.” Jahresbericht der Philosophischen Gesellschaft an der Universitat zu Wien (1904), pp. 63-79. -Eisler, Robert. Studien zur Werttheorie. Leipzig: Verlag von Duncker & Humblot, 1902. -Fabian, Reinhard and Peter M. Simons. “The Second Austrian School of Value Theory.” In Austrian Economics: Historical and Philosophical Background, ed. by Wolfgang Grassl and Barry Smith, pp. 29-78. Washington Square, NY: New York University Press, 1986. -Frondzi, Risieri. What Is Value? An Introduction to Axiology. Second edition. La Salle, IL: Open Court Publishing Company, 1971. -Grassl, Wolfgang. “Toward a Unified Theory of Value: From Austrian Economics to Austrian Philosophy.” Paper presented at 19th-20th Century Austrian Thought and its Legacy, November 1-3, 2012, University of Texas at Arlington. Associate Professor Brian Collins is the Drs. Ram and Sushila Gawande Chair in Indian Religion and Philosophy at Ohio University. 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

Alberto Harambour's new book Soberanías Fronterizas. Estados y capital en la colonización de Patagonia (Argentina y Chile, 1840s-1920s) (Universidad Austral de Chile, 2019) examines the explosion of foreign-owned sheep farming, the fitful expansion of Argentine and Chilean sovereignty, and the violence of primitive accumulation and genocide in southern Patagonia and Tierra del Fuego. Soberanías Fronterizas wrestles with the multiple and competing sovereignties articulated during the Age of Empire, Latin America’s export boom, and the dispossession of autonomous indigenous peoples through settler colonialism. It asks how, over the course of less than a century, this vast territory described by Europeans and outsiders as inhospitable, unknowable, and uninhabited, came to be a wildly profitable export enclave. Harambous uncovers how foreign (predominantly British) capital came into possession of millions of hectares of land for sheep raising, effectively establishing sovereign control at the expense of the indigenous inhabitants, Chile, and Argentina. To do this, he reconstructs how foreign investors, merchants, and elites and politicians in Santiago and Buenos Aires built networks of corruption to facilitate land acquisitions, infrastructural improvements, and immigration of labourers. This process, however, was anything but smooth. It came through violence (extermination of Fueginos such as the Selknam, extreme military repression of labour movements, and sheep latifundista resistance to customs). Jesse Zarley is assistant professor of history at Saint Joseph’s College on Long Island, where he teaches Latin American, Caribbean, and Global History. His research interests include the Mapuche, borderlands, ethnohistory, race, and transnationalism during Latin America’s Age of revolution, particularly in Chile and Río de la Plata. Heis the author of a recent article on Mapuche leaders and Chile’s independence wars. You can follow him on Twitter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In today’s ultra-polarized and highly partisan political environment, Welfare for the Rich: How Your Tax Dollars End Up in Millionaires' Pockets―And What You Can Do About It (Post Hill Press, 2020) is one of the rare books written to appeal to engaged and open-minded citizens from across the political spectrum. Welfare for the Rich is the first book to describe and analyze the many ways that federal and state governments provide handouts—subsidies, grants, tax credits, loan guarantees, price supports, and many other payouts—to millionaires, billionaires, and the companies they own and run. Welfare for millionaire farmers comes to more than $50 billion annually. Subsidies to giant corporations exceeds $100 billion. This shocking waste of taxpayer money is rigorously documented in Welfare for the Rich, along with the political action committees, and special interest groups that keep this distorted system going. Many journalists, scholars, and activists have focused on one or more of these dysfunctional programs. A few of the most egregious examples have even become famous. But Welfare for the Rich is the first attempt to paint a comprehensive, easily accessible picture of a system largely designed by the richest Americans—through lobbyists, lawyers, political action committees, special interest groups, and other powerful influencers—with the specific goal of making sure the government keeps wealth and power flowing from the many to the few. Phil Harvey is an entrepreneur who has founded a thriving business, a philanthropist who has created several important nonprofit organizations, and the author of five books. Lisa Conyers is director of policy studies for the DKT Liberty Project. Kirk Meighoo is a TV and podcast host, former university lecturer, author and former Senator in Trinidad and Tobago. He hosts his own podcast, Independent Thought & Freedom, where he interviews some of the most interesting people from around the world who are shaking up politics, economics, society and ideas. You can find it in the iTunes Store or any of your favorite podcast providers. You can also subscribe to his YouTube channel. If you are an academic who wants to get heard nationally, please check out his free training at becomeapublicintellectual.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The COVID-19 pandemic has unleashed a firehose of information (much of it wrong) and an avalanche of opinions (many of them ill-founded). Most of us are so distracted by the everyday awfulness that we don't see the broader issues in play. In this "hastily written" guide to the pandemic economy penned during self-isolation after a flight from Australia, economist Joshua Gans steps back from the short-term chaos to take a clear and systematic look at how economic choices are being made in response to COVID-19. Economics in the Age of COVID-19 (MIT Press , 2020) shows that containing the virus and pausing the economy—without letting businesses fail and people lose their jobs—are the necessary first steps. He outlines the phases of the pandemic economy - containment to reset to recovery and enhancement - and warns against thinking in terms of a “tradeoff” between public health and economic health. Once the virus is contained, we will need to innovate come together to protect ourselves from future pandemics. Tim Jones is an economic and political-risk analyst at Medley Global Advisors (FT Group) in London. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How is the retail sector going to be best able to survive the Amazon juggernaut? I address this question with B. Joseph Pine II and James H. Gilmore in a discussion of their book The Experience Economy: Competing for Customer Time, Attention, and Money (Harvard Business Review Press, 2020). Pine and Gilmore are the cofounders of Strategic Horizons, LLP. Besides their other books and activities, Pine is a Lecturer at Columbia University and Gilmore teaches at Case Western Reserve University. Topics covered in this episode include: --What have been the relevant emotions in play as the economy has evolved across the four stage of commodities, goods, services, and now experiences and transformations alike. --How is achieving “customer satisfaction” too limiting, and what’s the emotional storyline that, first, Walt Disney and now business leaders worldwide must embrace to survive and thrive. --How does the emotional labor of employees being “on stage” as part of an experience square with workers’ and customers’ desire for authenticity. For a transcript of this episode, click here. Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. To check out his “Faces of the Week” 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

Brian Greene is a Professor of Mathematics and Physics at Columbia University in the City of New York, where he is the Director of the Institute for Strings, Cosmology, and Astroparticle Physics, and co-founder and chair of the World Science Festival. He is well known for his TV mini-series about string theory and the nature of reality, including the Elegant Universe, which tied in with his best-selling 2000 book of the same name. In this episode, we talk about his latest popular book Until the End of Time: Mind, Matter, and Our Search for Meaning in an Evolving Universe (Random House, 2020) Until the End of Time gives the reader a theory of everything, both in the sense of a “state of the academic union”, covering cosmology and evolution, consciousness and computation, and art and religion, and in the sense of showing us a way to apprehend the often existentially challenging subject matter. Greene uses evocative autobiographical vignettes in the book to personalize his famously lucid and accessible explanations, and we discuss these episodes further in the interview. Greene also reiterates his arguments for embedding a form of spiritual reverie within the multiple naturalistic descriptions of reality that different areas of human knowledge have so far produced. John Weston is a University Teacher of English in the Language Centre at Aalto University, Finland. His research focuses on academic communication. He can be reached at [email protected] and @johnwphd. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

You mean big business is good, contributes to our general welfare, and is not generally guilty--with notable exceptions--of all of the charges made against it? That's the argument libertarian economist Tyler Cowen makes in his book Big Business: A Love Letter to an American Anti-Hero (St. Martins, 2019) Most NBN listeners will raise an eyebrow to that claim, but most of those same NBN listeners are up for a good back-and-forth on the virtues and demerits of our market system. And to that end, being familiar with Cowen's arguments--made in this book and his many other publications and platforms--is very useful. The shift in the reputational balance between government and big business as a result of the Covid-19 crisis is another reason to consider Cowen's argument. Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter @HistoryInvestor or at http://www.strategicdividendinvestor.com Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

I spoke with Dr Simon Bowmaker, Professor of Economics at New York University, Stern School of Business. He has recently published When the President Calls: Conversations with Economic Policymakers (MIT Press, 2019). His book is a very original and timely contribution on the relationship between US presidents and their economic advisers. The book, 674 pages, is divided into nine sections (one for each president from Nixon to Trump) and 35 chapters (one for each economic adviser of those nine presidents). The book covers 50 years of US history, 1969 to 2019 and is enriched by amazing pictures of the advisers ‘in action’ with their presidents. What is it like to sit in the Oval Office and discuss policy with the president? To know that the decisions made will affect hundreds of millions of people? To know that the wrong advice could be calamitous? These 35 officials worked in the executive branch in a variety of capacities but all had direct access to the policymaking process and can offer insights about the difficult tradeoffs made on economic policy. The interviews shed new light, for example, on the thinking behind the Reagan tax cuts, the economic factors that cost George H. W. Bush a second term, the constraints facing policymakers during the financial crisis of 2008, the differences in work styles between Bill Clinton and Barack Obama, and the Trump administration's early budget process. We started our conversation talking about the origin of the book and its development. Simon explained how he managed to reach such an impressive number of interviewees. We then discussed the background of the advisers, their relationship with ‘their’ presidents and how they managed to receive their ‘call’. I have asked him if he thinks that in the 50 years covered by the book, the relationship between presidents and advisers has evolved in some direction. He offered a very interesting answer about the alternative sources that today politicians can use to make their own minds. When the President Calls offers a unique, behind-the-scenes perspective on US economic policymaking. This is a great new book, original, well written, enjoyable. Many readers would find it interesting and helpful: to begin with, economists, historians, and politicians. Andrea Bernardi is Senior Lecturer in Employment and Organization Studies at Oxford Brookes University in the UK. He holds a doctorate in Organization Theory from the University of Milan, Bicocca. He has held teaching and research positions in Italy, China and the UK. Among his research interests are the use of history in management studies, the co-operative sector, and Chinese co-operatives. His latest project is looking at health care in China. He is the co-convener of the EAEPE’s permanent track on Co-operative economy and collective ownership. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Howard Friedman's new book Ultimate Price: The Value We Place on Life (University of California Press, 2020) should be required reading for anyone sitting down to watch the evening news. The Covid-19 crisis is, unfortunately, a new broad-based instance in the valuation of human life. And I do mean value: in terms of cash dollars. Ultimate Price covers the ways that companies, courts, nations, and individuals have come to put a price tag on individual existence. While the book was written prior to the current situation, it provides an excellent starting point to understand what we are observing as governments, companies, healthcare providers, and individuals make life-and-death decisions. Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter @HistoryInvestor or at http://www.strategicdividendinvestor.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 China, roughly 60% of GDP and 80% of employment comes from the private sector – yet half of private entrepreneurs report that they faced expropriation of property by local governments. Yue Hou’s rich, detailed, and ambitious book documents how private entrepreneurs protect their property from expropriation by running for office – and using their public roles to advance their private economic interest. Entrepreneurs who hold local legislative seats can leverage their political status to deter predatory behavior by lower-level bureaucrats who fear retribution or punishment from the legislator’s political network. Joining local legislatures allows private owners to creatively build a system of selective – yet effective – property rights in the short (and maybe medium) term. Hou’s research combines quantitative and qualitative methods including interviews with entrepreneurs, legislators, and audit experiments – in a political environment in which people are often risk-averse and politically sensitive. The book lays out the logic of selective property rights within authoritarian regimes, explores what entrepreneurs do once they hold legislative office, and how effective this strategy is for securing property rights (spoiler, it is effective). The podcast concludes with Hou’s describing how private entrepreneurs have provided crisis relief for COVID-19 in China. Susan Liebell is associate professor of political science at Saint Joseph’s University in Philadelphia. She is the author of Democracy, Intelligent Design, and Evolution: Science for Citizenship (Routledge, 2013). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Slavery and the University: Histories and Legacies (University of Georgia Press, 2019), edited by Leslie M. Harris, James T. Campbell, and Alfred L. Brophy, is the first edited collection of scholarly essays devoted solely to the histories and legacies of this subject on North American campuses and in their Atlantic contexts. Gathering together contributions from scholars, activists, and administrators, the volume combines two broad bodies of work: (1) historically based interdisciplinary research on the presence of slavery at higher education institutions in terms of the development of proslavery and antislavery thought and the use of slave labor; and (2) analysis on the ways in which the legacies of slavery in institutions of higher education continued in the post–Civil War era to the present day. The collection features broadly themed essays on issues of religion, economy, and the regional slave trade of the Caribbean. It also includes case studies of slavery’s influence on specific institutions, such as Princeton University, Harvard University, Oberlin College, Emory University, and the University of Alabama. Though the roots of Slavery and the University stem from a 2011 conference at Emory University, the collection extends outward to incorporate recent findings. As such, it offers a roadmap to one of the most exciting developments in the field of U.S. slavery studies and to ways of thinking about racial diversity in the history and current practices of higher education. Today I spoke with Leslie Harris about the book. Dr. Harris is a professor of history at Northwestern University. She is the coeditor, with Ira Berlin, of Slavery in New York and the coeditor, with Daina Ramey Berry, of Slavery and Freedom in Savannah (Georgia). Adam McNeil is a History PhD student at Rutgers University-New Brunswick. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

It seems easier for us today to imagine the thoroughgoing deterioration of the earth and of nature than the breakdown of late capitalism; perhaps that is due to some weakness in our imaginations - Fredric Jameson, The Seeds of Time Thomas Piketty, the French economist, was dubbed the modern Marx by The Economist in the wake of his bestselling Capital in the 21st Century, which presented historical data reaching back to the eighteenth century and focused on the dynamics of the distribution of wealth and income and the destabilizing force represented by: r > g – that is, the private rate of return on capital over time can be much higher than the rate of growth of income and output. Readers noted however, in addition to pointing out this ‘central contradiction of capitalism’ Professor Piketty was also clear that the purpose of social science is not to produce mathematical certainties that substitute for inclusive democratic debate. More importantly, he made the case for the progressive taxation of capital, and among many other things for going back to using the term ‘political economy’ for the field of economics – all of which did not render his analysis Marxist, although admittedly, the label made for more catchy magazine column titles in 2014. Six years in the making Piketty has extended the hopeful reach of his analysis by including a much larger global sampling of historical data – not just Western market economies this time, and by expanding the focus to include the political and ideological in his comparative analysis of capital accumulation and ‘inequality regimes’. The professor does so with the same underlying optimism and realistic eye on promoting the social learning process in which we all find ourselves as individuals within various cultures and societies. Enter his expanded interdisciplinary contribution to comparative political economy – Capital and Ideology (Harvard University Press, 2020) – essential reading. Thomas Piketty is a professor at the Paris School of Economics, and a Director of The School of Advanced Studies in Social Sciences. Keith Krueger lectures at the SHU-UTS Business School in Shanghai. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In early 2019, freshman representative Alexandria Ocasio Cortez and Senator Ed Markey proposed a bold new piece of legislation, now very well known as the Green New Deal. Intended as a means of combating climate change, it stunned a number of people due to its enormous ambition, including massive overhauls of our energy systems, as well as providing housing and healthcare for everyone. Naturally a piece of legislation this large raised a number of questions, which is what my guests today are here to discuss. I recently had the pleasure of talking with Kate Aronoff, Alyssa Battistoni, Daniel Aldana Cohen and Thea Riofrancos, the authors of ​A Planet to Win: Why We Need a Green New Deal​ (Verso, 2019). The book is short and accessible, written for everyone interested in understanding this vital piece of legislation, so if you are like me and you don’t understand the fine details of climate economics, you can still pick this up and gain a sense of what is to be done. The book also features a short forward by Naomi Klein, who has been tracking the relationship between economic and climate politics for some time. Kate Aronoff (@KateAronoff) is a fellow at the Type Media Center and a Contributing Writer at the ​Intercept​. She is the co-editor of ​We Own the Future​ and author of ​The New Denialism​. Her writing has appeared in the ​Guardian​, ​Rolling Stone​, ​Harper’s​, ​In These Times​, and ​Dissent​ Alyssa Battistoni (@alybatt) is a postdoctoral fellow at Harvard University and an editor at Jacobin.​ Her writing has appeared the ​Guardian,​ ​n+1​, ​The Nation​, ​Jacobin,​ ​In These Times​, Dissent​, and the ​Chronicle of Higher Education.​ Daniel Aldana Cohen (@aldatweets) is an assistant professor of sociolgy at the University of Pennsylvania, where he directs the Socio-Spatial Climate Collaborative. His writing has appeared in the ​Guardian​, ​Nature,​ ​The Nation​, ​Jacobin​, ​Public Books​, ​Dissent​, and ​NACLA.​ Thea Riofrancos (@triofrancos) is an assistant professor of political science at Providence College, and is the author of ​Resource Radicals.​ Her writing has appeared in the ​Guardian​, ​n+1​, Jacobin,​ the ​Los Angeles Review of Books​, ​Dissent,​ and ​In These Times​. She serves on the steering committee of DSA’s Ecosocialist Working Group. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

"Most lawyers, most actors, most soldiers and sailors, most athletes, most doctors, and most diplomats feel a certain solidarity in the face of outsiders, and, in spite of other differences, they share fragments of a common ethic in their working life, and a kind of moral complicity." – Stuart Hampshire, Justice is Conflict. There are many more examples of professional solidarity, however fragmented and tentative, sharing the link of a common ethic that helps make systems, and the analysis of them, possible in the larger political economy. Writing from a law professor’s vantage point, Katharina Pistor, in her new book, The Code of Capital: How the Law Creates Wealth and Inequality (Princeton University Press, 2019) explains how even though law is a social good it has been harnessed as a private commodity over time that creates private wealth, and plays a significant role in the increasing disparity of financial outcomes. As she points out in this interview, and her chapter ‘Masters of the Code’, it is ‘critical to have lawyers in the room’, and they clearly have the lead role in her well-researched and nuanced thesis centered on the decentralized institution of private law. Professor Pistor builds on Rudden’s ‘feudal calculus’ providing the long view of legal systems in maintaining and creating wealth and draws on historical analogies including the enclosure movements as she interweaves her analysis of capital asset creation with a broader critique of professional and institutional agency. Polanyi and Piketty figure into Pistor’s analysis among many others, as does the help of the state’s coercive backing as she draws on the breadth of her own governance research and analysis of the collapsed socialist regimes in the 1990s, and a research pivot toward western market economies following the 2008 Global Financial Crisis. Professor Pistor is a comparative scholar with a keen interdisciplinary eye for the relationship between law, values, and markets, dovetailing larger concepts with detailed descriptions of the coding of ‘stocks, bonds, ideas, and even expectations—assets that exist only in law.’ All of which informs her inquiry into why some legal systems have been more accommodating to capital’s coding cravings and others less so, as she describes the process by which capital is created. She moves beyond legal realism’s less granular critiques, and as reviewers such as Samuel Moyn have suggested – this book ‘deserves to be the essential text of any movement today that concerns itself with law and political economy’. Katharina Pistor is the Edwin B. Parker Professor of Comparative Law, and the Director of the Center on Global Legal Transformation at Columbia Law School. Keith Krueger lectures at the SHU-UTS Business School in Shanghai. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Paradox is a sophisticated kind of magic trick. A magician's purpose is to create the appearance of impossibility, to pull a rabbit from an empty hat. Yet paradox doesn't require tangibles, like rabbits or hats. Paradox works in the abstract, with words and concepts and symbols, to create the illusion of contradiction. There are no contradictions in reality, but there can appear to be. In Sleight of Mind: 75 Ingenious Paradoxes in Mathematics, Physics, and Philosophy (MIT Press, 2020), Matt Cook and a few collaborators dive deeply into more than 75 paradoxes in mathematics, physics, philosophy, and the social sciences. As each paradox is discussed and resolved, Cook helps readers discover the meaning of knowledge and the proper formation of concepts―and how reason can dispel the illusion of contradiction. The journey begins with “a most ingenious paradox” from Gilbert and Sullivan's Pirates of Penzance. Readers will then travel from Ancient Greece to cutting-edge laboratories, encounter infinity and its different sizes, and discover mathematical impossibilities inherent in elections. They will tackle conundrums in probability, induction, geometry, and game theory; perform “supertasks”; build apparent perpetual motion machines; meet twins living in different millennia; explore the strange quantum world―and much more. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

From the unending quest to turn metal into gold to the major discoveries that reveal how the universe works, experiments have always been a critical part of the hard sciences. In recent decades social scientists have started to catch up and the results are shifting the way we do nearly everything. Randomized control trials, called RCT’s, have a logic so simple that anyone can understand how they work and even run them themselves. It’s simple. You come up with an idea to get something to happen. You take a group of subjects and randomly split it in half. You try your idea on one group and leave the other group alone. The difference in outcomes will tell you if your idea works or not. In Randomistas: How Radical Researchers Are Changing Our World (Yale University Press, 2018), Andrew Leigh demonstrated the impact that social scientists are making with this powerful tool. From opportunity experiments to changing your socks, researchers are putting old ideas to the test and finding out what works and what doesn’t. The book reads like a series of interesting examples places beautifully together to shed light on how it is that we can be better at finding out what we do and do not know. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Ahmet T. Kuru’s new book Islam, Authoritarianism and Underdevelopment, A Global and Historical Comparison (Cambridge University Press, 2019) is a ground-breaking history and analysis of the evolution of the state in Muslim countries. Thoroughly researched and accessibly written, Kuru’s work traces the template of the modern-day state in many Muslim-majority countries to fundamental political, social and economic changes in the 11th century. That was when Islamic scholars who until then had by and large refused to surrender their independence to the state were co-opted by Muslim rulers. It was a time when the merchant class lost its economic clout as the Muslim world moved from a mercantile to a feudal economy. Religious and other scholars were often themselves merchants or funded by merchants. The transition coincided with the rise of the military state legitimized by religious scholars who had little choice but to go into its employ. They helped the state develop a forced Sunni Muslim orthodoxy based on text rather than reason- or tradition based interpretation of Islam with the founding of madrassahs or religious seminaries that were designed to counter the rise of Shiite states in North Africa and counter less or unorthodox strands of the faith. Kuru’s history could hardly be more relevant. It lays bare the roots of modern-day, illiberal, authoritarian or autocratic states in the Muslim world that are characterized by some form of often rent-driven state capitalism and frequently expansionary in their effort to ensure regime survival and increase rents. These states feature education systems that fail to develop critical thinking and religious establishments that are subservient to their rulers. Kuru’s book also in effect describes one of the original sources of the civilizational state that has become a fixture in the struggle to shape a new world order. With his book, Kuru has made an invaluable contribution to the understanding of the stagnation as well as the turmoil that has swept the Middle East and North Africa as well as the wider Islamic world. James M. Dorsey is a senior fellow at Nanyang Technological University S. Rajaratnam School of International Studies and the National University of Singapore’s Middle East Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

I spoke with Dr. Amr Khafagy about his recent book The Economics of Financial Cooperatives (Routledge, 2019). Amr is Research Assistant at the Countryside and Community Research Institute of the University of Gloucestershire. Building on theories of finance and distribution, and the political economy of finance, this book explains the influence of financial cooperatives on wealth and income distribution, and institutional factors that determine the development of financial cooperatives. The book discusses the dynamics of income and wealth distribution with and without financial cooperatives, and defines the economic objective for financial cooperatives. Through explaining the influence of political institutions and regulations on the development of financial cooperatives, this book examines why financial cooperatives grew in some emerging economies and not in other similar ones. Amr's current main research interests include rural finance and agricultural productivity, financial markets and distribution, income inequality, and the political economy of the Middle East. His previously worked in microfinance in Egypt and India, where he was involved in designing and evaluating rural finance projects, and worked with a range of stakeholders, including farmers and rural households, government representatives/ministry officials, as well as central bank of Egypt and financial institutions. The book is a useful contribution to the study of a typology of firm that is more important in our markets than generally believed. The empirical work by Amr is very original and helpful because it observed the relationship between the presence of financial cooperatives and income inequality in our economies. Andrea Bernardi is Senior Lecturer in Employment and Organization Studies at Oxford Brookes University in the UK. He holds a doctorate in Organization Theory from the University of Milan, Bicocca. He has held teaching and research positions in Italy, China and the UK. Among his research interests are the use of history in management studies, the co-operative sector, and Chinese co-operatives. His latest project is looking at health care in rural China. He is the co-convener of the EAEPE’s permanent track on Critical Management Studies. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Megan Tobias Neely and Ken Hou-Lin's new book Divested: Inequality in the Age of Finance (Oxford University Press, 2020) explores the rise of finance in American life over the last forty years and its implications for American workers, families, and economies. The authors argue that finance has transformed from a servant to the economy to its master - from a means of creating a prosperous society to an end in itself. The consequences of this shift are profound: the authors identify the many ways finance is implicated in the yawning growth in inequality in the US and how a financialized society redistributes resources from working people to owners, executives, and financial professionals. Using historical analysis, quantitative and qualitative data, the book offers a clear, comprehensive, and compelling account of one of the most important economic developments of our time. Patrick Sheenan is a graduate student in the Department of Sociology at the University of Texas, Austin. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Richard Pomfret’s The Central Asian Economies in the Twenty-First Century (Princeton University Press, 2019) looks at the economies of the five former Soviet Republics of Kazkahstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, considering the different trajectories of each of the countries. The book provides an overview of the experience of these economies in the 1990s, before looking specifically at each of the independent countries. The book’s final chapters look at problems of regional cooperation and global trade, as well as the influence and impact of major world powers (China, Russia, the EU, and the United States) on Central Asia. This book is useful reading for scholars, diplomats, policy-makers, and anyone else with an active interest in international politics and economy. Nicholas Seay is a PhD candidate at The Ohio State University. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics