New Books in 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

How does the world of book reviews work? In Inside the Critics’ Circle: Book Reviewing in Uncertain Times (Princeton University Press, 2020), Phillipa Chong, assistant professor in sociology at McMaster University, provides a unique sociological analysis of how critics confront the different types of uncertainty associated with their practice. The book explores how reviewers get matched to books, the ethics and etiquette of negative reviews and ‘punching up’, along with professional identities and the future of criticism. The book is packed with interview material, coupled with accessible and easy to follow theoretical interventions, creating a text that will be of interest to social sciences, humanities, and general readers alike. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Psychologists have long understood that social environments profoundly shape our behavior, sometimes for the better, often for the worse. But social influence is a two-way street―our environments are themselves products of our behavior. Under the Influence explains how to unlock the latent power of social context. It reveals how our environments encourage smoking, bullying, tax cheating, sexual predation, problem drinking, and wasteful energy use. We are building bigger houses, driving heavier cars, and engaging in a host of other activities that threaten the planet―mainly because that's what friends and neighbors do. In the wake of the hottest years on record, only robust measures to curb greenhouse gases promise relief from more frequent and intense storms, droughts, flooding, wildfires, and famines. In Under the Influence: Putting Peer Pressure to Work (Princeton UP, 2020), Robert H. Frank describes how the strongest predictor of our willingness to support climate-friendly policies, install solar panels, or buy an electric car is the number of people we know who have already done so. In the face of stakes that could not be higher, the book explains how we could redirect trillions of dollars annually in support of carbon-free energy sources, all without requiring painful sacrifices from anyone. Most of us would agree that we need to take responsibility for our own choices, but with more supportive social environments, each of us is more likely to make choices that benefit everyone. Under the Influence shows how. 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 Peoples 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

Psychologists have long understood that social environments profoundly shape our behavior, sometimes for the better, often for the worse. But social influence is a two-way street―our environments are themselves products of our behavior. Under the Influence explains how to unlock the latent power of social context. It reveals how our environments encourage smoking, bullying, tax cheating, sexual predation, problem drinking, and wasteful energy use. We are building bigger houses, driving heavier cars, and engaging in a host of other activities that threaten the planet―mainly because that's what friends and neighbors do. In the wake of the hottest years on record, only robust measures to curb greenhouse gases promise relief from more frequent and intense storms, droughts, flooding, wildfires, and famines. In Under the Influence: Putting Peer Pressure to Work (Princeton UP, 2020), Robert H. Frank describes how the strongest predictor of our willingness to support climate-friendly policies, install solar panels, or buy an electric car is the number of people we know who have already done so. In the face of stakes that could not be higher, the book explains how we could redirect trillions of dollars annually in support of carbon-free energy sources, all without requiring painful sacrifices from anyone. Most of us would agree that we need to take responsibility for our own choices, but with more supportive social environments, each of us is more likely to make choices that benefit everyone. Under the Influence shows how. 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 Peoples 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

In her new book Broke: Hardship and Resilience in a City of Broken Promise (St. Martin's Press, 2019), Jodie Adams Kirshner tells the story of the people of Detroit before, during, and after its bankruptcy, offering lessons about urban governance, post-industrial economics, development, and the usefulness of bankruptcy itself as a tool to aid U.S. cities. Join us to hear the fascinating, infuriating, and heartbreaking stories of Detroiters struggling to build better lives for themselves and their neighborhoods. 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

R. Scott Huffard Jr. is the author of Engines of Redemption: Railroads and the Reconstruction of Capitalism in the New South, published by the University of North Carolina Press in 2019. Engines of Redemption is a fascinating history of capitalism in the South, which tells the story of how railroads revitalized the region following the Civil War. Huffard examines the myriad of was that railroads were used to secure political and economic growth and power in the South throughout the Reconstruction era. Railroads, however, were not always seen as a blessing, and Huffard pays close attention to how the rapid southern growth of the locomotive was accompanied by rising anxieties, from race to disease. R. Scott Huffard Jr. is Assistant Professor of History at Lees-McRae College. Derek Litvak is a Ph.D. student in the department of history at the University of Maryland. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The passage of the 1831 Truck Act was intended to end throughout the United Kingdom the practice of paying employees in truck, or goods, rather than in money. As Christopher Frank reveals in Workers, Unions and Payments in Kind: The Fight for Real Wages in Britain, 1820-1914 (Routledge, 2019), though, this merely redefined a struggle that continued through the Victorian era into the early 20th century. As Frank demonstrates, employers soon developed ways to work around the ban in the law, which proved difficult to enforce. While as early as the 1850s governments considered new legislation to clamp down further on truck, efforts to do so ran into both laissez-faire and paternalistic arguments that together successfully frustrated passage of new measures. It was only with the increasing influence of the New Model Unions and the growing enfranchisement of workers from the 1860s onward that the issue became more of an electoral priority. While this pressure led to new legislation in 1887 and again in 1896 that improved enforcement of the ban on truck as well as introducing restrictions on fines and other pay deductions, concerns about wage theft persisted for workers up to the start of the First World War, when Britain’s entry into the conflict disrupted further pursuit of legislative amelioration. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

If you’re a grad student facing the ugly reality of finding a tenure-track job, you could easily be forgiven for thinking about a career change. However, if you’ve spent the last several years working on a PhD, or if you’re a faculty member whose career has basically consisted of higher ed, switching isn’t so easy. PhD holders are mostly trained to work as professors, and making easy connections to other careers is no mean feat. Because the people you know were generally trained to do the same sorts of things, an easy source of advice might not be there for you. Thankfully, for anybody who wishes there was a guidebook that would just break all of this down, that book has now been written. Going Alt-Ac: A Guide to Alternative Academic Careers (Stylus Publishing, 2020) by Kathryn E. Linder, Kevin Kelly, and Thomas J. Tobin offers practical advice and step-by-step instructions on how to decide if you want to leave behind academia and how to start searching for a new career. If a lot of career advice is too vague or too ambiguous, this book corrects that by outlining not just how to figure out what you might want to do, but critically, how you might go about accomplishing that. Zeb Larson is a recent graduate of The Ohio State University with a PhD in History. His research deals with the anti-apartheid movement in the United States. To suggest a recent title or to contact him, please send an e-mail to [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

The neoliberal consensus, once thought to be undefeatable, seems to have been broken both in the wake of the fiscal crisis of 2008, as well as a series of surprise movements and elections throughout the world in the last several years. But many scholars argue that it remains alive and well, just in a changed, mutated form. This is the theme that motivates the recent anthology Mutant Neoliberalism: Market Rule and Political Rupture (Fordham University Press, 2020). The book features ten essay by a cast of writers covering the ways in which neoliberalism is mutating to stay alive in a changing environment. William Callison is a visiting assistant professor of Government and Law at Lafayette College. Zachary Manfredi is an Equal Justice Works Fellow at the Asylum Seeker Advocacy Project. Stephen Dozeman is a freelance writer. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Is planning for America anathema to the pursuit of life, liberty and happiness? Is it true, as thinkers such as Friedrich Von Hayek, Milton Friedman, and Ayn Rand have claimed, that planning leads to dictatorship, that the state is economically inefficient, and that prosperity is owed primarily to the workings of a free market? To answer these questions Ian Wray’s book goes in search of an America shaped by government, plans and bureaucrats, not by businesses, bankers and shareholders. He demonstrates that government plans did not damage American wealth. On the contrary, they built it, and in the most profound ways. In three parts, No Little Plans: How Government Built America’s Wealth and Infrastructure (Routledge, 2019) is an intellectual roller coaster. Part I takes the reader downhill, examining the rise and fall of rational planning, and looks at the converging bands of planning critics, led on the right by the Chicago School of Economics, on the left by the rise of conservation and the ‘counterculture’, and two brilliantly iconoclastic writers – Jane Jacobs and Rachel Carson. In Part II, eight case studies take us from the trans-continental railroads through the national parks, the Federal dams and hydropower schemes, the wartime arsenal of democracy, to the postwar interstate highways, planning for New York, the moon shot and the creation of the internet. These are stories of immense government achievement. Part III looks at what might lie ahead, reflecting on a huge irony: the ideology which underpins the economic and political rise of Asia (by which America now feels so threatened) echoes the pragmatic plans and actions which once secured America’s rise to globalism. Ian Wray is Visiting Professor in Civic Design and Heseltine Institute Fellow at the University of Liverpool. He is a Fellow of the Academy of Social Sciences and Vice Chair of World Heritage UK. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Safi Bahcall's Loonshots: How to Nurture the Crazy Ideas That Win Wars, Cure Diseases, and Transform Industries (St. Martin's Press, 2019) reveals a surprising new way of thinking about the mysteries of group behavior that challenges everything we thought we knew about nurturing radical breakthroughs. Bahcall, a physicist and entrepreneur, shows why teams, companies, or any group with a mission will suddenly change from embracing new ideas to rejecting them, just as flowing water will suddenly change into brittle ice. Mountains of print have been written about culture. Loonshots identifies the small shifts in structure that control this transition, the same way that temperature controls the change from water to ice. Using examples that range from the spread of fires in forests to the hunt for terrorists online, and stories of thieves and geniuses and kings, Bahcall shows how a new kind of science can help us become the initiators, rather than the victims, of innovative surprise. Over the past decade, researchers have been applying the tools and techniques of this new science―the science of phase transitions―to understand how birds flock, fish swim, brains work, people vote, diseases erupt, and ecosystems collapse. Loonshots is the first to apply this science to the spread of breakthrough ideas. Bahcall distills these insights into practical lessons creatives, entrepreneurs, and visionaries can use to change our world. Along the way, readers will learn what James Bond and Lipitor have in common, what the movie Enigma Game got wrong about WWII, and what really killed Pan Am, Polaroid, and the Qing Dynasty. Cody Gough and Ashley Hamer are the hosts of the excellent podcast Curiosity Daily. Subscribe to Curiosity Daily here. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How should we understand inequality? In A Sense of Inequality (Roman and Littlefield, 2020), Wendy Bottero, a Reader in Sociology at the University of Manchester offers a detailed and challenging new approach to how we conceive of, how we study, and how we might challenge, social inequality. The book contends we need a new approach to the everyday subjective experience of inequality, appreciating people’s constrained resistance to often highly unequal social situations. Whilst never downplaying the reality of inequality, the book challenges social theories that ignore everyday practices in explanations of the persistence of inequality. Empirically detailed, with extensive global examples, as well as theoretically rich, the book is essential reading across the social sciences. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Climate change impacts-more heat, drought, extreme rainfall, and stronger storms-have already harmed communities around the globe. Even if the world could cut its carbon emissions to zero tomorrow, further significant global climate change is now inevitable. Although we cannot tell with certainty how much average global temperatures will rise, we do know that the warming we have experienced to date has caused significant losses, and that the failure to prepare for the consequences of further warming may prove to be staggering. Building a Resilient Tomorrow: How to Prepare for the Coming Climate Disruption (Oxford University Press, 2019), edited by Alice C. Hill and Leonardo Martinez-Diaz, does not dwell on overhyped descriptions of apocalyptic climate scenarios, nor does it travel down well-trodden paths surrounding the politics of reducing carbon emissions. Instead, it starts with two central facts: climate impacts will continue to occur, and we can make changes now to mitigate their effects. While squarely confronting the scale of the risks we face, this pragmatic guide focuses on solutions-some gradual and some more revolutionary-currently being deployed around the globe. Each chapter presents a thematic lesson for decision-makers and engaged citizens to consider, outlining replicable successes and identifying provocative recommendations to strengthen climate resilience. Between animated discussions of ideas as wide-ranging as managed retreat from coastal hot-zones to biological approaches for resurgent climate-related disease threats, Hill and Martinez-Diaz draw on their personal experiences as senior officials in the Obama Administration to tell behind-the-scenes stories of what it really takes to advance progress on these issues. The narrative is dotted with tales of on-the-ground citizenry, from small-town mayors and bankers to generals and engineers, who are chipping away at financial disincentives and bureaucratic hurdles to prepare for life on a warmer planet. For readers exhausted by today's paralyzing debates on yearly "fluke" storms or the existence of climate change, Building a Resilient Tomorrow offers better ways to manage the risks in a warming planet, even as we work to limit global temperature rise. Beth Windisch is a national security practitioner. You can tweet her @bethwindisch. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

As the upcoming 2020 U.S. election finally brings questions of economic justice center stage, this episode discusses the powerful short open-source book The Power of Debt: Identity and Collective Action in the Age of Finance (Institute on Inequality and Democracy, 2019). The book was published by the Institute on Inequality and Democracy in 2019 and coauthored by Prof. Hannah Appel of UCLA, Sa Whitley, a Ph.D. candidate in Gender Studies at UCLA, and Caitlin Kline, advisor to the Securities and Exchange Commission on derivatives enforcement issues. The book focuses on the urgent problem of staggering economic inequality through the lens of mass indebtedness. After assessing the grim situation - stagnating wages, historic levels of household debt, and the impossibility of accessing the means of life without debt - the authors ask whether we can organize against the injustices of debt as debtors as we once did against oppressive workplaces as workers. What goes into producing a politically salient identity category such as debtor? What do actual examples of debtor organizing tell us about the promises and perils of debtor organizing? What does it take to challenge the power of big banks and mighty investors? As an example, we discuss the strike that I am currently on with Harvard Graduate Students Union, speculating on how labor uprisings could benefit from concerted coalition building with debtors. At Harvard, undergraduates are saddled with unrepayable loans so they can access an education provided by grad students saddled with unpayable rents and bills - if the two groups could unite, what would be possible? In our conversation, Prof. Hannah Appel answered these questions amongst many others in a refreshingly spirited yet accessible style. A must-listen for scholars, organizers, and citizens concerned with economic inequality and possibilities for mobilization. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Award winning activist and researcher Raj Patel has teamed up with innovative environmental historian and historical geographer Jason W. Moore to produce an accessible book which provides historical explanations for the world ecological crises and the global crisis in capitalism. Using the framework of "cheapness," A History of the World in Seven Cheap Things: A Guide to Capitalism, Nature, and the Future of the Planet (University of California Press, 2017) takes the reader through the long history of the search for lower production costs, extending from European colonial conquests in the fifteenth century up to present agroindustrial systems. This quest for cheapness originated with European colonists' desire to separate Society—themselves—from Nature—everything else. All forms of "Nature" were categorized by colonist and capitalists so that they could be efficiently used for production. Human beings were often included in this contrived category of Nature. Colonized people, the indigenous, women, and brown people were considered akin to non-human nature. In the process of employing cheapness as a "strategy" across space and time, colonial and capitalist powers have devastated land, destroyed indigenous populations, and exploited workers. Resistance to cheapness is described in the book too, but in Moore and Patel's depiction of the modern world, this resistance seems insignificant compared to the power and momentum of the cheapness strategy. The refusal to pay the true costs of production eventually led to crises because nature was cheap, but never free; debts mounted. “The modern world happened” according to Patel and Moore, “because externalities struck back” (21). Global warming is the best example of these debts but the book exposes many others. To engage as broad of an audience as possible, the book is structured in a simple way making it useful for researchers, a general audience, and as a teaching text. The introduction begins with the example of the chicken nugget, the production of which exemplifies all seven "cheap things." The chapter then gives an outline of the argument. After the introduction, the reader is walked through relatively self-contained chapters on each of the seven cheap things: cheap nature, cheap money, cheap work, cheap care, cheap food, cheap energy, and cheap lives. Any chapter can be read in isolation as an example of how the concept of cheapness works in different ecological and economic realms but together they give the reader an understanding of the encompassing and destructive power of "cheapness." As Patel explains in the interview, the book was designed to engage an "intersectional" activist audience. Those interested in indigenous rights, class, race, and ecological issues will all find something interesting, and likely infuriating, in this book. Readers might be disappointed by the brevity of the conclusion however, which attempts to offer some solutions to current global crises. Here Patel and Moore lay out the basic structure for a "reparations ecology" that calls for profound changes, not simply in world economic and political relations, but in humans' attitude towards nature, both human and non-human forms. Hopefully Patel and Moore will elaborate further on the important concept of reparations ecology in their future works. In the meantime, anyone interested in the origins of the most pressing problems facing humanity today must give Patel and Moore's thesis serious consideration. Jason L. Newton is a visiting assistant professor of history at Cornell University. His book manuscript, Cutover Capitalism: The Industrialization of the Northern Forest, 1850-1950, is a history of the changing types of labor performed by people, trees, and the landscape in the American Northeast as that area industrialized. He has also published on nature, race, and immigration. He teaches classes on labor and the environment. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The future is a constant focus of anxiety, and we are all familiar with the pressures that come distinctively from automation – the transformation by which tasks formerly assigned to humans come to be performed by machines. These days, the stakes seem to be higher, as technology now seems poised to render nearly all human labor obsolete. What lies in store for us, and for the flourishing and meaning of our lives, once technology has relieved humans of the need to work? In Automation and Utopia: Human Flourishing in a World without Work (Harvard University Press, 2019), John Danaher explores the issues facing us as we confront our own obsolescence. He defends the idea that a workless future is not only possible, but possibly utopian. 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 Americans eat so much beef? In Red Meat Republic: A Hoof-to-Table History of How Beef Changed America (Princeton University Press, 2019), the historian Joshua Specht provides a history that shows how our diets and consumer choices remain rooted in nineteenth century enterprises. A century and half ago, he writes, the colonialism and appropriation of indigenous lands enabled the expansion of western ranch outfits. These corporate ranchers controlled loose commodity chains, until powerful corporate meat packers in Chicago seized the economic order through the tools of modern capitalism (scientific management, standardization, labor suppression). These capitalists expanded the supply chains to far-flung consumers in New York and around the globe. But as meat became a staple of the American diet, and measure of progress, consumers cared more about the price and taste than the violence to people, animals, and environment behind the scenes. “America made modern beef” Specht writes, “at the same time that beef made America modern.” Ryan Driskell Tate is a Ph.D. candidate in American history at Rutgers University. He is completing a book on fossil-fuels and energy development in the American West. He teaches courses on modern US history, environmental history, and histories of labor and capitalism. @rydriskelltate Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Consumer Management in the Internet Age: How Customers Became Managers in the Modern Workplace (Lexington Books, 2019), Joshua Sperber analyzes online consumer management, a practice in which customers monitor, report on, and—sometimes unwittingly—discipline workers through writing and posting online reviews. Sperber uses case studies of the websites Yelp and Rate My Professors (RMP), to explore how online reviewing, a popular contemporary hobby, tells us much about the collapse of the barriers separating work and leisure as well as our need for collective purpose and community wherever we can find it. This book explores the economic implications of online reviews, as reviews provide both valuable free content for websites and surveillance of, respectively, restaurant servers and college instructors. Rebekah Buchanan is an Assistant Professor of English at Western Illinois University. Her work examines the role of narrative–both analog and digitalin peoples lives. She is interested in how personal narratives produced in alternative spaces create sites that challenge traditionally accepted public narratives. She researches zines, zine writers and the influence of music subcultures and fandom on writers and narratives. You can find more about her on her website, follow her on Twitter @rj_buchanan or email her 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

I met Dr Miriam Driessen at Oxford University where she works at the China Centre. We spoke about her wonderful new book Tales of Hope, Tastes of Bitterness: Chinese Road Builders in Ethiopia (Hong Kong University Press, 2019). Through unprecedented ethnographic research among Chinese road builders in Ethiopia, Driessen finds that the hope of sharing China’s success with developing countries soon turns into bitterness, as Chinese workers perceive a lack of support and appreciation from Ethiopian laborers and local institutions. The bitterness is compounded by their position at the margins of Chinese society, suspended as they are between China and Africa and between a poor rural background and a precarious urban future. Workers’ aspirations and predicaments reflect back on a Chinese society in flux as well as China’s shifting place in the world. I started our conversation asking a short introduction on her background and the origin of the book. We mentioned the influence on her research of the work by C.K. Lee and particularly the book Against the Law. Miriam explained how she ended studying the Ethiopian case and road construction over other sectors. We then moved to her findings on the resistance and agency of African workers and the ‘hopes and bitterness’ of the Chinese workers. We discussed how it is possible to identify different classes among Chinese workers in Ethiopia (as well as in China) and the varieties of migrants, each with different background, ambitions, working conditions and destiny. We concluded our conversation addressing the controversial topic of China’s presence in Africa and whether this should be defined as neo-colonialism or not. Revealing the intricate and intimate dimensions of these encounters, Driessen conceptualizes how structures of domination and subordination are reshaped on the ground. The book skillfully interrogates micro-level experiences and teases out how China’s involvement in Africa is both similar to and different from historical forms of imperialism. Miriam also told us about her new project as she is about to move to Ethiopia for another year of fieldwork. Thanks to her bright anthropological skills and her ability to communicate in both Amharic and Chinese, it will be yet another amazing scholarly contribution. Miriam Driessen is an anthropologist and a writer of literary nonfiction in English and her native Dutch. She is currently a Postdoctoral Research Associate within the China, Law and Development Project, hosted by the University of Oxford China Centre. Miriam completed a DPhil at the School of Anthropology and Museum Ethnography at Oxford (2014/15), and held a fellowship at Peking University (2014–2016). She has also been a Leverhulme Early Career Fellow at the School of Interdisciplinary Area Studies (SIAS) and a Junior Research Fellow of Jesus College, University of Oxford. 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

It has become a truism that work has become less secure and more precarious for a widening swath of American workers. Why and how this has happened, and what workers can and should do about it, is the subject of a wide-ranging new book, Temp: How American Work, American Business, and the American Dream became Temporary (Viking, 2018). In Temp, Louis Hyman, Professor of History at the Industrial and Labor Relations School of Cornell University, presents a detailed history of the unraveling of steady work. Hyman acknowledges that secure, lucrative, meaningful work has never been equally available to all Americans, even amidst the prosperity of the post-WWII era. He also argues compellingly that the shift toward privileging shareholders over employees and short-term profit over long-term prosperity was not inevitable, nor is it irreversible. Jobs are less secure today not because the market demanded it but because, starting as early as the 1950s, executives, consultants, and policy makers decided to make them that way. He details the rise of temp agencies and consultancies as well as the broader political, cultural, economic, and technological shifts that fueled and furthered the move toward insecure work. Listen in as I talk with Professor Hyman about his fascinating work and his ideas about what the path forward might look like for American workers. Carrie Lane is a Professor of American Studies at California State University, Fullerton and author of A Company of One: Insecurity, Independence, and the New World of White-Collar Unemployment. Her research concerns the changing nature of work in the contemporary U.S. She is currently writing a book on the professional organizing industry. To contact her or to suggest a recent title, email [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

Free market capitalism has failed women, and even the recent progress that had been made in closing the gender wage gap has leveled off in many rich democracies. Vicky Pryce helps us understand the causes of this ongoing discrimination, the harm it does not just to women and their families but to productivity and economic growth, and what governments can do about it. Women vs. Capitalism: Why We Can't Have It All in a Free Market Economy (Hurst, 2019) is a fresh and timely reminder that, although the #MeToo movement has been hugely important, empowerment of the mind will not achieve full power for women while there remains economic inequality. Pryce urgently calls for feminists to focus attention on this pressing issue: the pay gap, the glass ceiling, and the obstacles to women working at all. Only with government intervention in the labor market will these long-standing problems finally be conquered. From the gendered threat of robot labor to the lack of women in economics itself, this is a sharp look at an uncomfortable truth: we will not achieve equality for women in our society without radical changes to Western capitalism. 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

With free college in the national conversation, there’s been no better time for Daniel T. Kirsch’s new book Sold My Soul for a Student Loan: Higher Education and the Political Economy of the Future (Praeger, 2019). Kirsch teaches at California State University, Sacramento. American colleges and universities boasts an impressive legacy, but the price of admission for many is now endless debt. As Kirsch shows in the book, increasing educational indebtedness undermines the real value of higher education in US democracy. To help readers understand this dilemma, he examines how the student debt problem emerged and what the long-term effects of this might be. Sold My Soul for a Student Loan examines this vitally important issue from an unprecedented diversity of perspectives, focusing on the fact that student debt is hindering the ability of millions of people to enter the job market, the housing market, the consumer economy, and the political process. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Ukraine 2030: The Doctrine of Sustainable Development (ADEF-Ukraine LTD, 2018) offers a program that includes complex strategies for the economic development of Ukraine. This program was developed on the basis of data that were collected and analyzed by leading economists and researchers of Ukraine. When designing strategies that will help improve the current economic situation in the country, the authors of the project evaluate both domestic and international conditions that can create a positive context for Ukraine’s economic growth. According to the contributors to Ukraine 2030, one of the strategic and fundamental components for a positive economic change is the individual: Ukraine has a remarkable potential for joining a cohort of countries with strong economies. To embrace this potential, however, the country has to deal with a number of challenges which are connected not only with the present moment (war in the Donbas and the annexation of Crimea) and which aggravate the economic stability, but also with a number of problems whose roots go back to the Soviet times. As the authors of the book note, Ukraine, in spite of the fact that she has been independent for almost thirty years, is still coping with the Soviet heritage. Ukraine 2030: The Doctrine of Sustainable Development offers an insightful overview of the present economic situation and a profound program for the economic improvement in Ukraine. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

We’ve all heard that a picture is worth a thousand words, but what if we don’t understand what we’re looking at? Social media has made charts, infographics, and diagrams ubiquitous―and easier to share than ever. We associate charts with science and reason; the flashy visuals are both appealing and persuasive. Pie charts, maps, bar and line graphs, and scatter plots (to name a few) can better inform us, revealing patterns and trends hidden behind the numbers we encounter in our lives. In short, good charts make us smarter―if we know how to read them. However, they can also lead us astray. Charts lie in a variety of ways―displaying incomplete or inaccurate data, suggesting misleading patterns, and concealing uncertainty―or are frequently misunderstood, such as the confusing cone of uncertainty maps shown on TV every hurricane season. To make matters worse, many of us are ill-equipped to interpret the visuals that politicians, journalists, advertisers, and even our employers present each day, enabling bad actors to easily manipulate them to promote their own agendas. In How Charts Lie: Getting Smarter about Visual Information (W. W. Norton, 2019), data visualization expert Alberto Cairo teaches us to not only spot the lies in deceptive visuals, but also to take advantage of good ones to understand complex stories. Public conversations are increasingly propelled by numbers, and to make sense of them we must be able to decode and use visual information. By examining contemporary examples ranging from election-result infographics to global GDP maps and box-office record charts, How Charts Lie demystifies an essential new literacy, one that will make us better equipped to navigate our data-driven world. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Waste is one of the planet’s last great resource frontiers. From furniture made from up-cycled wood to gold extracted from computer circuit boards, artisans and multinational corporations alike are finding ways to profit from waste while diverting materials from overcrowded landfills. Yet beyond these benefits, this “new” resource still poses serious risks to human health and the environment. In her new book Waste (Polity, 2019), Kate O’Neill traces the emergence of the global political economy of wastes over the past two decades. She explains how the emergence of waste governance initiatives and mechanisms can help us deal with both the risks and the opportunities associated with the hundreds of millions – possibly billions – of tons of waste we generate each year. Drawing on a range of fascinating case studies to develop her arguments, including China’s role as the primary recipient of recyclable plastics and scrap paper from the Western world, “Zero-Waste” initiatives, the emergence of transnational waste-pickers’ alliances, and alternatives for managing growing volumes of electronic and food wastes, O’Neill shows how waste can be a risk, a resource, and even a livelihood, with implications for governance at local, national, and global levels. Marshall Poe is the editor of the New Books Network. He can be reached at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The neoliberal 1980s of austerity and privatization may appear as a break with the past—perhaps a model of government drawn up by libertarian economists. Not so, says Amy Offner in her spectacular new book, Sorting Out the Mixed Economy: The Rise and Fall of Welfare and Developmental States in the Americas (Princeton University Press, 2019). Offner, an Assistant Professor of History at the University of Pennsylvania, shows how strategies such as self-help housing, for-profit privatized state-functions, and austere social programs were well-trodded decades earlier in the mid-century “mixed economy.” She also shows how these statebuilding strategies and their advocates moved back and forth between Latin America and the United States. Sorting Out the Mixed Economy brings together the history of U.S. foreign relations with that of domestic policy and of capitalism, and is therefore bound to shake up all three. Experts of each are well-advised to spend time with Offner’s provocative but wise analysis. Dexter Fergie is a PhD student of US and global history at Northwestern University. He is currently researching the 20th-century geopolitical history of information and communications networks. He can be reached by email at [email protected] or on Twitter @DexterFergie. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Inequality in the U.S. has increased dramatically over the past decades -- on that there is agreement. There is less agreement on the causes of that inequality, the consequences of it, and, perhaps least of all, what to do about it. Join us to hear Jonathan Rothwell talk about his new book, A Republic of Equals: A Manifesto for a Just Society (Princeton University Press, 2019), which pushes back against some of the conventional wisdom about the sources of inequality to offer his own provocative diagnosis of the problem and proposed remedies for it. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Tired of the mechanical, narrowly rational human behavior of the Chicago school, but not exactly comforted by the emphasis on irrational activity in behavioral economics? So am I. Richard Robb, professor at Columbia and fund manager, offers a third way. In Willful: How We Choose What We Do (Yale University Press, 2019), Robb develops the notion of "for itself" behavior and decision making that can't be reduced to the algorithms of calculating machines, or even those that are adjusted for human foibles. Willful is not a comprehensive theory of decision making, but an effort to reinsert some element of humanity into explanations of how individuals and groups act. It is a work along the lines of "life is a journey, not a destination" but one well enriched by a wide reading of ancient and modern philosophers. 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

As you may know, university presses publish a lot of good books. In fact, they publish thousands of them every year. They are different from most trade books in that most of them are what you might called "fundamental research." Their authors--dedicated researchers one and all--provide the scholarly stuff upon which many non-fiction trade books are based. So when you are reading, say, a popular history, you are often reading UP books at one remove. Of course, some UP books are also bestsellers, and they are all well written (and, I should say, thoroughly vetted thanks to the peer review system), but the greatest contribution of UPs is to provide a base of fundamental research to the public. And they do a great job of it. How do they do it? Today I talked to Kathryn Conrad, the president of the Association of University Presses, about the work of UPs, the challenges they face, and some terrific new directions they are going. We also talked about why, if you have a scholarly book in progress, you should talk to UP editors early and often. And she explains how! Listen in. Marshall Poe is the editor of the New Books Network. He can be reached at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How should we understand work? In What’s Wrong with Work? (Policy Press, 2019), Lynn Pettinger, Associate Professor of Sociology at the University of Warwick, explores how work is organised, interconnected, and what work does. The book offers a history of work, as well as challenging and destabilising taken for granted categories such as ‘good’ and ‘bad’ work, foregrounding what is usually taken to be invisible and is deleted. The book covers a range of theoretical territory too, but is written in a clear and accessible style, serving as both a detailed and engaging overview of key issues such as technology and environmental sustainability. The book will be essential reading for anyone seeking to understand work! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Whether man-made or naturally occurring, large-scale disasters can cause fatalities and injuries, devastate property and communities, savage the environment, impose significant financial burdens on individuals and firms, and test political leadership. Moreover, global challenges such as climate change and terrorism reveal the interdependent and interconnected nature of our current moment: what occurs in one nation or geographical region is likely to have effects across the globe. Our information age creates new and more integrated forms of communication that incur risks that are difficult to evaluate, let alone anticipate. All of this makes clear that innovative approaches to assessing and managing risk are urgently required. When catastrophic risk management was in its inception thirty years ago, scientists and engineers would provide estimates of the probability of specific types of accidents and their potential consequences. Economists would then propose risk management policies based on those experts' estimates with little thought as to how this data would be used by interested parties. Today, however, the disciplines of finance, geography, history, insurance, marketing, political science, sociology, and the decision sciences combine scientific knowledge on risk assessment with a better appreciation for the importance of improving individual and collective decision-making processes. The essays in The Future of Risk Management (University of Pennsylvania Press, 2019), edited by Howard Kunreuther, Robert J. Meyer, Erwann O. Michel-Kerjan, highlight past research, recent discoveries, and open questions written by leading thinkers in risk management and behavioral sciences. The Future of Risk Management provides scholars, businesses, civil servants, and the concerned public tools for making more informed decisions and developing long-term strategies for reducing future losses from potentially catastrophic events. Visit the University of Pennsylvania Press and enter promo code RISK50 during checkout to receive a 50% discount. Valid until November 15, 2019. Beth Windisch is a national security practitioner. You can tweet her @bethwindisch. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Railroads and the Transformation of China (Harvard University Press, 2019) looks at the development of railroads in China from the late 19th century to the post-Mao reform period. Treating railroads as institutions, Elisabeth Köll charts how railroads and railway management companies were constructed and developed, how railway lines were disrupted by war, and then how they were re-organized and re-structured – often by re-packaging pre-1949 ideas – in the Communist period. Throughout Köll is attentive to historical continuities and disruptions, paying particular attention to the tensions that existed between centralization and decentralization, which, as she shows, ultimately created a system where regionally autonomous railroad bureaus exist within a centralized hierarchy. By drawing on sources that range from archival materials to oral testimonies, Köll has created not only the first comprehensive history of railroad operation in China, but also a book filled with fascinating details, including the absurdities of railroad accounting practices in semi-colonial China, what you learn when you look at the rate of railroad accidents during the Great Leap Forward (spoiler alert: as you will hear in the podcast, the rates are definitely not good!), and much, much more, all of which will be of interest to historians and railfans alike. Sarah Bramao-Ramos is a PhD candidate in the Department of East Asian Languages and Civilization at Harvard University. She is interested in translation, Manchu language books, and anything that involves a good kesike. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The things that make people academics -- as deep fascination with some arcane subject, often bordering on obsession, and a comfort with the solitude that developing expertise requires -- do not necessarily make us good teachers. Jessamyn Neuhaus’s Geeky Pedagogy: A Guide for Intellectuals, Introverts, and Nerds Who Want to Be Effective Teachers (West Virginia University Press, 2019) helps us to identify and embrace that geekiness in us and then offers practical, step-by-step guidelines for how to turn it to effective pedagogy. It’s a sharp, slim, and entertaining volume that can make better teachers of us all. 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 Peoples 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

Think economics is the "dismal science" with abstract formulas that have no impact on life as it is actually lived? Think again. In The Economists' Hour: False Prophets, Free Markets, and the Fracture of Society (Little Brown, 2019), Binyamin Appelbaum--former correspondent and now an editorial board member of the New York Times--brings to life how academic economists rose "from the basement" of banks and universities in the post-war period to have a direct impact on almost every aspect of our lives. The end of the draft, unemployment levels, inflation, deregulation, air transport, phone service, patent law, monopolies and anti-trust activity, even the value of human lives--all of these have been directly affected by the activity of economists who emerged on the scene after World War II. Appelbaum traces the transition from the first school of these economists--the Keynesians who advocated a bigger role for government in addressing economic and social problems--to the second school, the Chicago "market" crowd that held sway from the 1970s until the financial crisis or 2008-9. The latter school held that the market had the answer to problems in the economy and society and that government should stay out of the way. Regardless of which side of the debate you find yourself on, you will want to be familiar with the lives and ideas of the individuals who have had such an impact on your life. 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

What is the future of work? In What Do We Know and What Should We Do About the Future of Work? (Sage, 2019), Melanie Simms, a Professor of Work and Employment at the University of Glasgow offers an overview off a vast range of issues associated with work- in a short and accessible book. The book asks us to remember the continuities of problems associated with work, as well as the emerging future trends. The latter include automation, an aging population and pensions, emotional and aesthetic labour, skills, universal basic income, and flexible forms of working. By placing these trends in an appropriate historical setting the book offers lessons about how societies can respond, focusing in particular on rights and regulation, enforcement, and the role of unions and collective action. The book will be essential reading for anyone who works! 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 Ioana Negru about the book that she recently edited with Wilfred Dolfsma. We were joined in the conversation by our colleague Rodrigo Zeidan to discuss the timely issues covered by The Ethical Formation of Economists (Routledge, 2019). Economists' role in society has always been an uneasy one, and in recent years the ethicality of the profession and its practitioners has been questioned more than ever. This collection of essays is the first to investigate the multifaceted nature of what forms economists' ethical and economic views. The book suggests that if we can better understand what is making economists think and act as they do, considering ethicality in the process, we might all be better placed to implement changes. The intent is not to exonerate economists from personal responsibility, but to highlight how considering the circumstances that have helped shape economists' views can help to address issues. It is argued that it is important to understand these influences, as without such insights, the demonization of economists is too easily adapted as a stance by society as well as too easily dismissed by economists. The 2007 financial crisis has raised obvious questions about the link between ethics and economic questions. This book edited by Ioana Negru and Wilfred Dolfsma aims to show how important ethics is for economic life and to discuss what is the role of ethics in economics, econometrics, in relation to media or public policy. The purpose of the book is to help economists understand what ethics is and how pervasive ethics is in everyday life. Bringing together work from international contributors such as George DeMartino, Deirdre McCloskey, Mark White, Steve Ziliak, Robert McMaster, Andrew Mearman, Craig Duckworth, Patrick O'Sullivan, Jamie Morgan, Wim Groot, Henriette Maassen van Den Brink, Alice Sindzigrea and Edward Teather-Posadas, it explores the ways in which economists are influenced in their training and career, examining how this can explain their individual ethical stances as economists. The book is an important contribution that students and scholars (in the fields of economics, ethics, philosophy and sociology) should consider buying and reading regardless to their methodological and theoretical preferences. 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

I spoke with James C. W. Ahiakpor, he is Professor Emeritus, Department of Economics, at California State University, East Bay, USA. We discussed his new book Macroeconomics without the Errors of Keynes: The Quantity Theory of Money, Saving, and Policy (Routledge, 2019) A provocative title for a very original book that is a critique not only of Keynes but also of some of his followers and his scholarly opponents. This is a sophisticated book and an erudite account and analysis of crucial debates in economics over the past 100 years. I asked what is the origin of the book and why he wrote a book 'against' J.M. Keynes. I also asked to locate Keynes and his relationship with classical economists. We then discussed why macroeconomics needs to be restored to its classical roots and what are the distortions that he attributes to Keynes. Finally we spoke about the implications of his book for contemporary economic and monetary policy debates after the great recession. Professor Ahiakpor argues that modern macroeconomics is in a stalemate, with seven schools of thought attempting to explain the workings of a monetary economy and to derive policies that promote economic growth with price-level stability. He attributes some of those problems to the errors of Keynes and to the reception of his work. The crucial errors made by Keynes are due to his reading of classical macroeconomics, in particular the classical Quantity Theory and the meaning of saving. In light of this, we discussed with James Ahiakpor how to solve those misunderstandings to achieve economic policies consistent with the promotion of the employment and economic growth that Keynes was seeking. This is an advanced book written for scholars of macroeconomics and history of economic thought and of course everybody interested in Keynes, the complexity of his work and possibly some oversights if you will agree with professor Ahiakpor. 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

“Free enterprise” is an everyday phrase that connotes an American common sense. It appears everywhere from political speeches to pop culture. And it is so central to the idea of the United States that some even labeled Christopher Columbus and the Pilgrims free enterprisers. In his new book, Free Enterprise: An American History (Yale University Press, 2019), Lawrence Glickman analyses that phrase’s historical meaning and shows how it became common sense. Glickman, a historian and the Stephen and Evalyn Milman Professor in American Studies at Cornell University, traces the phrase from its many 19th-century meanings, of which abolitionists wielded a dominant one (consider the word free), to its conservative reformulation in the 1920s and 30s. He shows how “free enterprise” became the rallying cry of the business community from the 1930s to the Powell Memo in the early 70s. This book is a whirlwind tour of a keyword that has had immense rhetorical power in modern American history and that scholars have yet to critically examine. Glickman’s book provides a compelling example of how historians can study the historical construction of common sense and is a welcome contribution to intellectual history, political history, and the history of capitalism. Dexter Fergie is a PhD student of US and global history at Northwestern University. He is currently researching the 20th-century geopolitical history of information and communications networks. He can be reached by email at [email protected] or on Twitter @DexterFergie. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

We spoke with Edward Cartwright about his textbook ‘Behavioral Economics’ structured into four parts and eleven chapters. This is now the third edition published by Routledge and it is a leading advanced textbook on Behavioral Economics. Edward is also co-author with Robert Frank on the European edition of the popular Microeconomics and Behaviour textbook. Edward is associate editor at the Journal of Public Economic Theory and Fellow of the Higher Education Academy. I asked about his personal background and about the origin of the book that at its first edition was one of the pioneering textbooks available. Edward then provided a short introduction to Behavioral Economics and located it in the mainstream / heterodox economics debate. We also discussed how Behavioral Economics contributed to modify the relationship between macro and micro. Edward mentioned the impact of Behavioral Economics to economic theory and policy making (last chapter of the book). We discussed the ethical implications of applied behavioral research and we mentioned the field of happiness economics covered in chapter 11. Edward’s main research interests are in behavioural economics, game theory and public economics. Much of his research analyses cooperation in small groups, exploring the role of social norms, leadership, framing and communication. Another strand of work looks at conformity, prejudice and discrimination. Further research interests include cyber-security and doping in sport. Over the last few decades behavioral economics has revolutionized the discipline. It has done so by putting the human back into economics, by recognizing that people sometimes make mistakes, care about others and are generally not as cold and calculating as economists have traditionally assumed. The results have been exciting and fascinating, and have fundamentally changed the way we look at economic behavior. This textbook introduces all the key results and insights of behavioral economics to a student audience. Ideas such as mental accounting, prospect theory, present bias, inequality aversion and learning are explained in detail. These ideas are also applied in diverse settings such as auctions, stock market crashes, charitable donations and health care, to show why behavioral economics is crucial to understanding the world around us. Consideration is also given to what makes people happy, and how we can potentially nudge people to be happier. 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

Shortly after the conclusion of the Women's World Cup earlier this summer, a friend suggested to me that it signaled the long-awaited arrival of soccer as a mainstream sport in the U.S. I thought a second, remembering the commercials around the game and the way the television cameras shot the crowd. Then I responded that I thought it wasn't really the long-awaited arrival of soccer, but the emergence of women's sports into the mainstream of American culture. This is something of an exaggeration. But the summer of the World Cup is perhaps a perfect time to think through the position of women's sports in global society. Nancy Lough and Andrea N. Geurin do just that in their new edited Routledge Handbook of the Business of Women's Sport (Routledge, 2019). Lough and Guerin bring together forty different authors to survey the status of women's sports in 2019. The essays range from discussions of the history of women's sports to analyses of media representation of women in sports to the economics and management of women's sports. Collectively, it is a remarkable accomplishment. Lough and Guerin offer a comprehensive survey of the field while pointing to future questions and topics of research. The coverage is scholarly, but with an eye to the political and sports culture in which women's sports exists. Anyone interested in understanding the business of women's sports should start here. Kelly McFall is Professor of History and Director of the Honors Program at Newman University. He’s the author of four modules in the Reacting to the Past series, including The Needs of Others: Human Rights, International Organizations and Intervention in Rwanda, 1994, published by W. W. Norton Press, and (with Abigail Perkiss) Changing the Game: Title IX, Gender and Athletics in American Universities, to be published by W. W. Norton in November 2019. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Scholars of US history have treated trade policy in less than enthusiastic ways. One economic historian described tariffs as “extraordinarily uninteresting things unless related to the political events which give them meaning.” While another historian said the tariff has caused “narcolepsy” among his colleagues. One piece of evidence of this sentiment is that the last comprehensive history of of US trade policy was published in the the late 19th century! Despite the seemingly soporific qualities of the subject, Douglas Irwin wrote a 900-page tome on trade policy. The book, Clashing over Commerce: A History of US Trade Policy (University of Chicago Press, 2019) is remarkably erudite and surprisingly entertaining. Irwin shows how trade policy was at the heart of so many of the major crises and transitions in US history, everything from the Revolution of 1776 to the post-Cold War moment. Indeed, Irwin fashions a focus on tariffs into a new history of the republic itself. Douglas Irwin is the John French Professor of Economics at Dartmouth and a Research Associate at the National Bureau of Economic Research. Dexter Fergie is a PhD student of US and global history at Northwestern University. He is currently researching the 20th century geopolitical history of information and communications networks. He can be reached by email at [email protected] or on Twitter @DexterFergie. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The authors of Chains of Finance: How Investment Management is Shaped (Oxford University Press, 2017) make points that professionals already know and that end-investors ought to know: that there are a lot of cooks in the investment kitchen, and that the investment process is materially shaped by the chain of individuals and institutions that go into manufacturing investment products. Advisors, consultants, compliance, sales, portfolio managers, analysts, traders, distributors, custodians---these job titles are just part of that machinery. And they all interact with one another in a variety of ways. Most people operating in a complex industry understand that there is a lot going on behind the scenes that affects the ultimate outcome of the manufacturing process or service generation. Investment management is the same. Chains of Finance is part of a growing literature in the social studies of finance that highlights that investment is an interactive social process, not a cut and dried application of some algorithm, even when it is promoted as a computer-driven, machine only exercise. Please listen to my interview with one of the authors, Philip Grant, here.... 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

The clerk attended his desk and counter at the intersection of two great themes of modern historical experience: the development of a market economy and of a society governed from below. Who better illustrates the daily practice and production of this modernity than someone of no particular account assigned with overseeing all the new buying and selling? In Accounting for Capitalism: The World the Clerk Made (U Chicago Press, 2018), Michael Zakim has written their story, a social history of capital that seeks to explain how the “bottom line” became a synonym for truth in an age shorn of absolutes, grafted onto our very sense of reason and trust. This is a big story, told through an ostensibly marginal event: the birth of a class of “merchant clerks” in the United States in the middle of the nineteenth century. The personal trajectory of these young men from farm to metropolis, homestead to boarding house, and, most significantly, from growing things to selling them exemplified the enormous social effort required to domesticate the profit motive and turn it into the practical foundation of civic life. As Zakim reveals in his highly original study, there was nothing natural or preordained about the stunning ascendance of this capitalism and its radical transformation of the relationship between “Man and Mammon.” Lukas Rieppel teaches history at Brown University. His new book, Assembling the Dinosaur, has recently been published by Harvard University press. You can find him online at https://sites.google.com/view/lukasrieppel/ or on twitter @lrieppel. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but government credit has been part of American life since the nation’s founding. Sarah L. Quinn’s new book dissects the political and social development of these policies in American Bonds: How Credit Markets Shaped a Nation (Princeton University Press, 2019). Quinn is associate professor of sociology at the University of Washington. From the 1780s, when national land credit policy was established, to the postwar foundations of our current housing finance system, Quinn examines the evolution of securitization and federal credit programs. American Bonds shows that since the Westward expansion, the U.S. government has used financial markets to manage America’s complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Trying to follow the key macroeconomic debates that are swirling around DC, CNBC, the WSJ and the NYT? If you are but don't want to go back to graduate school or re-open your college macroeconomics textbook, John Quiggin has a solution. His Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly (Princeton University Press, 2019) achieves several goals. First, it frames the current debates, providing a concise, well-written history of macroeconomics and the key twists and turns in economic policy that have brought us to our current state of (general) disagreement on economic policy. Second, he structures his view of macroeconomics as a rebuttal to a 1946 book by Henry Hazlitt in 1946 called Economics in One Lesson. Seventy years later, Quiggin counters Hazlitt's view that markets are "correct," in that their prices accurately reflect opportunity costs for buyers and sellers. Quiggin's second lesson highlights the externalities and factors that distort those opportunity costs and lead to suboptimal outcomes such as extended unemployment, excessive income inequality, and the seemingly intractable problem (from an economics perspective) of pollution. In the final portion of his book, Quiggin argues what policies he thinks would make markets work better by generating a more accurate understanding of opportunity costs. To some, his prescriptions will look like the program of the Left. The great irony is that his goal is to make markets function better, not rid us of them. Whether you agree with his prescriptions are not, this is a very interesting book and a great way for non-economists to get up to speed on current debates and policy issues without having to do a single test for statistical significance or worry about heteroscedasticity. 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

In Dark Work: The Business of Slavery in Rhode Island(NYU Press, 2016; paperback, 2018), Christy Clark-Pujara, Associate Professor of History in the Department of Afro-American Studies at the University of Wisconsin-Madison, tells the story of one state whose role was outsized: Rhode Island. Like their northern neighbors, Rhode Islanders bought and sold slaves and supplies that sustained plantations throughout the Americas; however, nowhere else was this business so important. During the colonial period trade with West Indian planters provided Rhode Islanders with molasses, the key ingredient for their number one export: rum. More than 60 percent of all the slave ships that left North America left from Rhode Island. During the antebellum period Rhode Islanders were the leading producers of “negro cloth,” a coarse wool-cotton material made especially for enslaved blacks in the American South. Clark-Pujara draws on the documents of the state, the business, organizational, and personal records of their enslavers, and the few first-hand accounts left by enslaved and free black Rhode Islanders to reconstruct their lived experiences. The business of slavery encouraged slaveholding, slowed emancipation and led to circumscribed black freedom. Enslaved and free black people pushed back against their bondage and the restrictions placed on their freedom. It is convenient, especially for northerners, to think of slavery as southern institution. The erasure or marginalization of the northern black experience and the centrality of the business of slavery to the northern economy allows for a dangerous fiction—that North has no history of racism to overcome. But we cannot afford such a delusion if we are to truly reconcile with our past. Ryan Tripp is part-time and full-time adjunct history faculty for Los Medanos Community College as well as the College of Online and Continuing Education at Southern New Hampshire University. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In From the Grounds Up: Building an Export Economy in Southern Mexico (Stanford University Press, 2019), Casey Lurtz explains how the fertile yet isolated region of the Soconusco became integrated into global markets in the late nineteenth- and early twentieth centuries. Located in what is today the state of Chiapas, the Soconusco was a lightly-populated borderlands region where sovereignty was murky, for both Mexico and Guatemala claimed the district and residents moved freely across the scarcely-delineated boundary between national territories. There were other challenges to developing an export economy: the Soconusco faced labor scarcity, lacked institutional and material infrastructure, and was regularly destabilized by political violence. Nevertheless, it became the primary coffee-producing region in Mexico in this era. To trace how this occurred, Lurtz notes the role of politicians and entrepreneurial large landowners, Mexican and foreign, in developing coffee plantations (fincas), but her cast of characters goes beyond the political and economic elite. For the author, local smallholders and migrant laborers were equally central protagonists in the story of how the Soconusco became so productive. She argues that these often-overlooked actors were influential in shaping the region’s economy and its integration into international markets. The book’s chapters trace how both powerful and marginal figures in the district responded to each of the various impediments to development. Using rich local sources to reconstruct mapping and surveying efforts, ordinary transactions, and legal disputes, Lurtz connects this economic and social history to the political history of nineteenth-century Latin America. Much as political liberalism should be studied as both a set of ideas and a set of practices, the economic aspects of liberalism are also worth examining on the ground at a microhistorical level. Lurtz reveals how economic liberal ideas and structures were invoked and demanded by villagers, workers, and landowners in the Soconusco in order to advance their diverse agenda. Rachel Grace Newman is Lecturer in the History of the Global South at Smith College. She has a Ph.D. in History from Columbia University, and her dissertation was titled “Transnational Ambitions: Student Migrants and the Making of a National Future in Twentieth-Century Mexico.” She is also the author of a book on a binational program for migrant children whose families divided their time between Michoacán, Mexico and Watsonville, California. She is on Twitter (@rachelgnew). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

This week we take a break from fun and games to talk about business and consumerism–which, to be sure, is for some people also fun and games. As Vicki Howard reminds us in her new book, From Main Street to Mall: The Rise and Fall of the American Department Store (University of Pennsylvania Press, 2015), it used to be that America was filled with department stores. Congenital nostalgics remember places like Wanamaker’s in Philadelphia; they even print books about the big-city department stores of Days Gone By. But that ignores the important place that department stores held in small towns all around the country. Vicki Howard has already written on the history of the wedding industry. Now she and Al Zambone talk about the department store, how they began, what they offered people that hadn’t existed before, and how they were undone by the same forces that created them. Zambone gets a little autobiographical, too, but please forgive him. Enjoy. Al Zambone is a historian and the host of the podcast Historically Thinking. You can subscribe to Historically Thinking on Apple Podcasts. 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 markets made? In Automating Finance: Infrastructures, Engineers, and the Making of Electronic Markets (Cambridge University Press, 2019), Juan Pablo Pardo-Guerra, an assistant professor in sociology at the University of California, San Diego, explores the history of the finance industry to understand the role of markets and technologies in contemporary capitalism. The book offers a detailed theoretical engagement with the personalities and technological changes underpinning the modern system of automated finance. It uses the case study of the development of the London Stock Exchange, looking at the social relations embedded in financial markets, before moving to look at the global, American system. Charting the move from trading floors to trading screens, the book considers individuals and broader social systems shaping enabling and constraining behaviour in the world of finance. Overall the book offers a rethinking of the meaning of markets, and is essential reading across social science, history, and 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

Both the International Monetary Fund (IMF) and the World Trade Organization (WTO) practice periodic surveillance of member states to ensure they are adopting effective economic policies. Despite the importance of these practices, they remain understudied by scholars until now. Martin Edwards has written The IMF, the WTO & the Politics of Economic Surveillance (Routledge, 2018). Edwards is an Associate Professor in the School of Diplomacy and International Relations at Seton Hall University and is also department chair. The world is paying increasing attention to issues of transparency and accountability, questioning whether the IMF and WTO are in part responsible for the global economic crisis, as well as assessing their responsiveness to the crisis. Examining the influence and effectiveness of surveillance, Edwards offers recommendations of how surveillance can be designed differently to make it more effective in the future. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics