New Books in Economics

Ronald P. Formisano has written Plutocracy in America: How Increasing Inequality Destroys the Middle Class and Exploits the Poor (Johns Hopkins UP, 2015). Formisano is the William T. Bryan Chair of American History and professor emeritus of history at the University of Kentucky. Are those in the United States living in a plutocracy? Formisano offers a full-throated “definitely, yes.” His wide-ranging book explores the nature of inequality, the role political institutions play in perpetuating inequality, and several ways to change the status quo. Plutocracy in America is a provocative read about the status of the country today. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Though the conventional history of the U.S.-led “War on Drugs” locates the origins of this conflict in a reaction to the domestic culture of excess of the 1960s, a new book argues that international drug control efforts are actually decades older, and much more imbricated with the history of U.S. access to international markets, than we have previously thought. Suzanna Reiss’s We Sell Drugs: The Alchemy of US Empire (University of California Press, 2014) uncovers this history by tracing the transnational geography and political economy of coca commodities–stretching from Peru and Bolivia into the United States, and back again. The book examines how economic controls put in place during WWII transformed the power of the U.S. pharmaceutical industry in Latin America and beyond, and gave rise to new definitions of legality and illegality–definitions that were largely premised on who grew, manufactured, distributed, and consumed drugs, and not on the qualities of the drugs themselves. Drug control, she shows, is a powerful tool for ordering international trade, national economies, and society’s habits and daily lives. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Shellen Wu‘s new book is a fascinating and timely contribution to the histories of China, science, technology, and the modern world. Empires of Coal: Fueling China’s Entry into the Modern World Order, 1860-1920 (Stanford University Press, 2015) brings readers into the nineteenth century industrialization of China, when coal became the “fuel of a ‘new’ imperialism.” Wu’s book asks how China came to matter in a new modern world order of the nineteenth century that was built on a perception that coal was a measure of a country’s standing in the world. In answering that question, Empires of Coal looks carefully at the importance of mining (including state management and legal regulation thereof) to the political economy of late imperial China. As geology developed into an independent discipline separate from geography, it help colonizers cement their power by aiding efforts to extract valuable mineral deposits from the colonies. Wu traces the archive produced in this context as coal became crucial not just to foreign interest in China, but also to China’s interest in mineral resources, exploring a wide range of maps, translations, letters, essays, journals, textbooks, and other materials. The book also situates this story within a history of mineral sciences, scientists, and engineers in China. It will be required reading for anyone interested in the entanglement of science, technology, and modernity in global history. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Christine Desan, teaches about the international monetary system, the constitutional law of money, constitutional history, political economy, and legal theory at Harvard Law School. In this podcast we discuss her new book, Making Money: Coin, Currency, and the Coming of Capitalism (Oxford University Press, 2015). Per the books jacket, “Money travels the modern world in disguise. It looks like a convention of human exchange – a commodity like gold or a medium like language. But its history reveals that money is a very different matter. It is an institution engineered by political communities to mark and mobilize resources. As societies change the way they create money, they change the market itself – along with the rules that structure it, the politics and ideas that shape it, and the benefits that flow from it. One particularly dramatic transformation in money’s design brought capitalism to England. For centuries, the English government monopolized money’s creation. The Crown sold people coin for a fee in exchange for silver and gold. “Commodity money” was a fragile and difficult medium; the first half of the book considers the kinds of exchange and credit it invited, as well as the politics it engendered. Capitalism arrived when the English reinvented money at the end of the 17th century. When it established the Bank of England, the government shared its monopoly over money creation for the first time with private investors, institutionalizing their self-interest as the pump that would produce the money supply. The second half of the book considers the monetary revolution that brought unprecedented possibilities and problems. The invention of circulating public debt, the breakdown of commodity money, the rise of commercial bank currency, and the coalescence of ideological commitments that came to be identified with the Gold Standard – all contributed to the abundant and unstable medium that is modern money. All flowed as well from a collision between the individual incentives and public claims at the heart of the system. The drama had constitutional dimension: money, as its history reveals, is a mode of governance in a material world. That character undermines claims in economics about money’s neutrality. The monetary design innovated in England would later spread, producing the global architecture of modern money.” Some of the topics we cover are: * How the work’s assertion that money is a mode of governance in a material world undermines claims in economics about money’s neutrality. * The “free minting” system and why legal enforcement was essential to it. * The radical redesign of money that began in the 17th century. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Video games have become an important cultural and economic force in our media environment. In his new book, The Video Game Business (British Film Institute, 2014), scholar Randy Nichols provides an overview of the increasingly diverse global market for video games. Nichols locates the origins of the video game industry back to the dawn of the computer age in the 1960s. He then explores the emergence of an industry around video games, noting the interdependence of hardware and software across a number of key “epochs”: from consoles to computer gaming to the explosion of mobile gaming. Throughout the book, Nichols explores key moments of transition in video games by providing institutional profiles of key industrial players in the industry. His critical analysis of power in the video game industry also explores the role of labor and audiences. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Dr. William Elliott III, associate professor in the School of Social Welfare at the University of Kansas, and Melinda Lewis, associate professor of practice in the School of Social Welfare at the University of Kansas, explore the landscape of the US higher education student loan situation in The Real College Debt Crisis: How Student Borrowing Threatens Financial Well-Being and Erodes the American Dream (Praeger 2015). Using real-life examples along with academically rooted studies, the authors attempt to answer the question, “Does the student who goes to college and graduates but has outstanding student debt achieve similar financial outcomes to the student who graduates from college without student debt?” Co-author Melinda Lewis joins New Books in Education for the interview to discuss the book. For questions or comments on the podcast, you can also find the host on Twitter at @PoliticsAndEd. You can also find the authors on Twitter at @melindaklewis and Dr. Elliott’s organization at @AssetsEducation. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Credit, debt and default are embedded into everyday life, whether as a constant part of people’s daily routines or as a constantly discussed topic in news media. Joe Deville‘s new book, Lived Economies of Default: Consumer Credit, Debt Collection and the Capture of Affect, helps to make sense of this by asking how this core part of the social world functions.The book draws on science and technology studies and theories of affect, to lay bare the practices of attaching the debtor to debt, and to getting debts to be repaid. The book has case studies of credit cards, collections agencies, telephone calls and letters, revealing the reality of default and debt in contemporary society. The book will appeal widely, not only to sociology, organization studies and anthropology, but also to politics, psychology, and the wider humanities. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

What meaning does money have in psychic life? And where does clinical psychoanalytic work fall in the realm of commerce? Does money play an inherently alienating role with regards to the psychoanalytic subject? Or might it contain meaning crucial to the patient’s progress? In Money Talks in Therapy, Society, and Life (Routledge, 2011), Brenda Berger and Stephanie Newman present a collection covering a wide range on the topic from varied psychoanalytic perspectives. With contributions from Muriel Dimen, Robert Glick, Theodore Jacobs, and others, money is understood in terms of psychosexuality, greed, envy, narcissism, sexuality, loss, the economics among candidates in psychoanalytic training institutes, and its ever-present roll in the transference/countertransference matrix. In the interview Berger describes the ways in which money was split off and denied in clinical psychoanalysis in the years leading up to the economic crash of 2008, and how this was followed by a re-emergence within the field after 2008. Berger offers compelling clinical examples to illuminate the ways in which landscape shifted dramatically after the crash, as money became, more and more, a container for psychic meaning. We discuss the ways in which the loss of money often facilitated deepening shifts within the treatment, as well as the psychic implications of financial fallout and what the current economic realities might mean for psychoanalysis in general. Brenda Berger is Assistant Clinical Professor of Medical Psychology in Psychiatry and Senior Associate Director for Psychology at the Columbia University Center for Psychoanalytic Training and Research. Dr. Berger is in private practice in New York City and Larchmont, NY, working with couples, individuals, and groups. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Social media is now a pervasive element of many people’s lives. in order to best understand this phenomenon we need a comprehensive theory of the political economy of social media. In Culture and Economy in the Age of Social Media (Routledge, 2015), Christian Fuchs, a professor of social media at the University of Westminster, brings together a range of media, social and economic theorists to explain social media. Using Raymond Williams to draw attention to the material conditions of control, production and use of social media, including case studies from the USA and China. Most notably the book insists on understanding the international division of labour behind the seemingly ephemeral aspects of online interactions. The book is essential reading for all of those active online, as well as those working in the political economy and critical theory traditions. It is available here. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Philip A. Wallach is the author of To The Edge: Legality, Legitimacy, and the Responses to the 2008 Financial Crisis (Brookings Institution Press, 2015). Wallach is a fellow in Governance Studies at the Brookings Institution. There has been a lot written about the financial crisis of the late 2000s, but little with the attention to important concepts from political science. Wallach investigates the various federal strategies to address the meltdown of the financial sector from the perspective of legitimacy, seeking to understand what we can learn about this idea from the unprecedented expansion of federal power. From efforts to save the failing investment banks, Bear Stearns, Lehman Brothers, AIG, to the passage of the Troubled Asset Relief Program (TARP), federal officials applied a largely ad-hoc approach that Wallach deems “adhocracy” often substituting expedience for legal authority. While this worked in the short-term, Wallach probes where this leaves the country and speculates about what will come 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

There’s a lot more to money than its exchange value, as Allison Truitt reveals in her smartly written and lively study, Dreaming of Money in Ho Chi Minh City (University of Washington Press, 2013)about how people in Vietnam’s largest city negotiate relations with one another, the state, the global marketplace and the spirit world through dollars and dong, On the streets of Ho Chi Minh City, remitted greenbacks cease to be the stuff of the currency trader or foreign state. Here, they take on new and distinctive roles. They mingle with their counterfeits, the one burned at cemeteries and shrines to satisfy ancestral debts, the other sent by relatives living abroad to acknowledge the debt-bond owed by those who have left the country to those who remain behind. They celebrate the transnational yet also beckon to the intimate. And, they challenge the communist party to reorder its narrative of modernity so as to maintain the primacy of its role in political and administrative affairs. As Truitt herself puts it, Dreaming of Money in Ho Chi Minh City tells a story of “monetary pluralism rather than tightly wound institutional bets, of the sensuous pleasures of cash rather than calculations of derivatives”. It also tells a story of power: of the claims to power that states make through the production of territorial currency, and of how those claims are undermined by the ways that people use money for their own purposes. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Brett Sheehan‘s new book traces the interwoven histories of capitalism and the Song family under a series of five authoritarian governments in North China. Based on a wide range of sources a range of sources including family papers, missionary archives, corporate records, government documents, newspapers, oral histories, novels, and interviews, Industrial Eden: A Chinese Capitalist Vision (Harvard UP, 2015) explores a family of “capitalists without capitalism.” The book follows the development of Song Chuandian and his son Song Feiqing into businessmen in order to inform and transform how we understand the modern history of the Chinese economy in its social and political context. The evidence of the Song family, Sheehan compellingly argues, allows us to understand the impact of European and Japanese imperialism on the Chinese economy and Chinese business practices in a new way. At the same time, there is no single, culturally-determined set of “Chinese business practices”: in the example of Song Feiqing, we see a hybrid of Confucian paternalism, Christianity, industrialism, hygiene, discipline, and more. Though the authoritarian governments that ruled China in the twentieth century varied widely, Industrial Eden shows that Chinese states and businesspeople came both to accept a government role in business that became increasingly intrusive, and to expect increasingly more from the state over time. The book also pays careful attention to the ways that this story informs the history of missionary activity, commodities, nationalism, labor, diaspora, and disciplining of the modern subject in nineteenth and twentieth century China. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The functioning of the global economy remains as relevant a topic as ever before. Commentators continue to debate the causes and consequences of the financial crisis that hit the United States from 2007-2008. They also continue to ask questions such as: How long will China keep purchasing the treasury bonds that the U.S. government needs to help finance its ever-increasing debt? Just how long can the dollar remain the global reserve currency before being replaced by another national currency or some sort of international monetary unit? Will the global flows of capital facilitated by “free-floating” exchange rates eventually undermine the healthy functioning of international economy and usher in another global depression? In his new book The Summit: Bretton Woods, 1944 (Pegasus Books, 2014), journalist Ed Conway uses the story of the Bretton Woods Summit to help readers better understand the difficulties involved in creating a stable and prosperous global monetary system. In easy-to-follow and engaging prose, he recounts the rise and fall of the gold standard. Drawing on many previously unused sources, he also explains how actors as different as the British economist John Maynard Keynes and U.S. treasury official Harry Dexter White worked to create a more flexible, cooperative global monetary system that would prevent future World Wars and Great Depressions. Conway’s section on the Summit tells the fascinating stories of how the participants ended up creating the Bretton Woods framework by linking the dollar to gold and creating the International Monetary Fund and World Bank. Unlike many accounts of the Bretton Woods Summit that paint the gathering as a dull economic conference, Conway’s book succeeds in portraying the human drama of the event and the complex ways that personalities influenced the final agreements. In ways that will appeal to the general reader and expert alike, he embeds his cogent economic analysis within stories as diverse as the drinking songs that attendees belted out at the Mount Washington Hotel bar and the volleyball match that took place between U.S. and Soviet officials. A magician and dance instructor also make appearances in the story. Like any good book should, Conway gives readers much food for thought. While the Bretton Woods framework had many faults, it largely coincided with the longest economic expansion in human history. Even if this framework’s inherent limitations make it an impractical option today, policymakers would be wise to reflect on how their predecessors worked to promote global economic stability. As history shows, they could do worse than the motley collection of individuals who came to Bretton Woods in 1944. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

According to a popular saying, “Nothing succeeds like success.” As concernswhat economists and political scientists call “development”–that is, progress towards libertyand prosperity–the saying seems to be true. As a general rule, the countries that were relatively free and relatively prosperous 100 years ago are the ones that are relatively free and relatively prosperous today.200 years ago? Yes, more or less. 300 years ago? Well, probably. 400 years ago? A good argument could be made… Why? According to one argument, the difference is caused by the rich praying on the poor. In a word, imperialism. But if you survey countries around the world, it’s not clear whether imperialism (and colonization) hurt or helped development. The Spanish thoroughly imperialized Mexico, and it’s pretty prosperous; no one really got into the interior of Africa and it’s not. And what are we to make of developmental differences within, say, prosperous Europe? No real imperialism there; a lot of bloody war, but no imperialism as such. Germany is free and prosperous. Russia is not free and not prosperous. Why is that? In their impressive and refreshing bookThe Long Process of Development: Building Markets and States in Pre-industrial England, Spain and their Colonies (Cambridge University Press, 2014),Jerry F. Hough and Robin Grier argue that it’s not so much imperialism that impedes development, but style of governance and, especially, time. If autocratic governments do nothing buttake rents, thesocieties they rule will not develop, not ever, no matter how long or hard the governmentstry to development them. If they are even semi-popular and pro-trade, they will develop, though it will take a very, very long time. There’s no magic built. You can’t simply import democracy and capitalism and hope for a rapid transitionto freedom and prosperity.The process of development takes centuries. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Our guest today tells us that the seemingly straightforward field of logistics lies at the heart of contemporary globalization, imperialism, and economic inequality. Listen to Deb Cowen, the author of The Deadly Life of Logistics: Mapping Violence in Global Trade (University of Minnesota Press, 2014), discuss how the field of logistics reshaped global capitalism, undermined worker power, and even transformed how we think about life and death. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Today we’ll focus on the history of resistance to the New Deal. In her book Invisible Hands: The Businessmen’s Crusade Against the New Deal (W. W. Norton,2010), Kimberly Phillips-Fein details how many of the most prominent elites had their ideas and practices shaped by groups that were part of organized resistance to the New Deal. She argues that this history helps revise common understandings of the rise of conservatism in the 1970s and after. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Robert Putnam is the author of Our Kids: The American Dream in Crisis (Simon and Schuster, 2015). Putnam is the Peter and Isabel Malkin Professor of Public Policy at Harvard University. He has written fourteen books including the best-seller, Bowling Alone: The Collapse and Revival of American Community. Few political scientists command attention like Robert Putnam. For that reason, scholars and the wider public are eager for his take on our current state of affairs. His latest book, Our Kids, paints a grim picture of US life in the twentieth century. The social mobility that Putnam associates with his childhood growing up in Ohio is largely gone, replaced by deep income inequality and increasingly rigid class boundaries. Putnam demonstrates this with a combination of individual stories and supporting social science evidence all that point to education (or inadequate education) as the key determining factor. But in the end Putnam is not a pessimist, instead he sees opportunities for social change. The book ends with a series of recommendations, most non-political, but all aimed to address the country’s mobility problem. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Two Canadian socialist thinkers have published a new book on the successes and failures, the crises, contradictions and conflicts in present-day capitalism. In The Making of Global Capitalism: The Political Economy of American Empire (Verso, 2013), Leo Panitch and Sam Gindin trace the evolution of the international capitalist system over the last century. (Panitch is a professor of political science at Toronto’s York University while Gindin holds the Packer Chair in Social Justice at York.) They argue that today’s global capitalism would not have been possible without American leadership especially after the two World Wars and that the U.S. Treasury and Federal Reserve were more crucial in extending and maintaining American power than the Pentagon or the CIA. The U.S. capitalist empire is an “informal” one, they write, in which Americans set the terms for international trade and investment in partnership with other sovereign, but less powerful states. Panitch and Gindin also disagree with those who contend that China is set to replace the U.S. as the world’s economic superpower. They write that China does not have the institutional capacity to manage the crisis-prone, global capitalist system — a burden that, for the foreseeable future, will continue to be carried by the American empire. The Making of Global Capitalism: The Political Economy of American Empire won the 2013 Deutscher Prize awarded for books which exemplify “the best and most innovative new writing in or about the Marxist tradition.” The New Books Network spoke with co-author Leo Panitch during his recent visit to Halifax, Nova Scotia. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Nicolas Rasmussen‘s new book maps the intersection of biotechnology and the business world in the last decades of the twentieth century. Gene Jockeys: Life Science and the Rise of Biotech Enterprise (Johns Hopkins University Press, 2014) takes readers into the fascinating world of entrepreneur-biologists as they developed five of the first products of genetic engineering. Based on a documentary archive that includes oral history interviews and corporate documents resulting from patent litigation, Rasmussen’s book emphasizes the agency of the biologists in in driving the development of first-generation recombinant DNA drugs like insulin, human growth hormone, and interferon. After an introduction to the development of basic molecular biology in a Cold War context – and paying special attention to the ways that Kuhn’s notion of “normal science” helped shape the discipline – the ensuing chapters each present a case study that illustrates an important aspect of the history of biotech’s rise as manifest in laboratories, courtrooms, universities, freezers, markets, and the public arena. Gene Jockeys closes with a chapter that considers the policy lessons that can be taken from this story. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Michael Kwass‘s new book, Contraband: Louis Mandrin and the Making of a Global Underground is much more than an exciting biography of the notorious eighteenth-century smuggler whose name remains legendary in contemporary France. Focusing on the rise and fall of a mythic, early-modern French bandit, Kwass’s study moves between the micro- and the macro-historical, revealing the crucial role that smuggling played in a French economic and political landscape that must be understood in global perspective. The book shows how the underground economy that emerged during the ancien regime developed in close relationship to the trade practices and regulation attempts of the French state. The opposite was also true. State efforts to regulate trade in tobacco and calico from the reign of Louis XIV onwards contributed to the development of illicit activity and networks, and the desire to quash the economic underground, in turn, provoked changes in economic policy, legislation, and perceptions of the need for reform in the years leading up to the French Revolution. Revisiting the history of the “consumer revolution” of the eighteenth century, Contraband draws our attention to the violence and struggle that accompanied the proliferation of goods and markets associated with “modernity.” In our interview, Michael underlines his aim to write a history inspired by, and in conversation with, more recent events and debates about “the dark side of globalization”. This makes the book a must-read for anyone interested in the longer-term history of the forms of contraband, regulation, and resistance that shape the economic, political, and cultural networks (both legal and illicit) of the present on a global scale. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Rita Denny and Patricia Sunderland‘s bookHandbook of Anthropology in Business (Left Coast Press, 2014) isa groundbreaking collection of essays all related to Business Anthropology. As with all interdisciplinary subjects, business anthropology has been infiltrated by other social scientists, designers and marketers. Denny and Sunderland made sure to also include those perspectives among the 60 plus authors that are featured in the handbook. This is a great reference for any anthropologist in practice, and an interesting read about the ways in which anthropology is adapting and changing. Questions about how to present anthropological findings and conduct fieldwork in a business setting are analyzed through the lenses of the academic discipline and the industry, If you have any interest in practicing anthropology, conducting ethnography, or anthropological research methods in business, this is a must have reference for your shelf. 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 wonderful ethnography of Darjeeling tea, Sarah Besky explores different attempts at bringing justice to plantation life in north east India. Through explorations into fair trade, geographic indication and a state movement for the Nepali tea workers, Besky critically assesses the limits of projects that fail to address underlying exploitative structures. The Darjeeling Distinction: Labor and Justice on Fair-Trade Plantations in India (University of California Press, 2014) is a readable and theoretically nuanced book that should be of interest to many. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Dream Zones: Anticipating Capitalism and Development in India (Pluto Press, 2014), the excellent new book by Jamie Cross, explores the ways in which dreams of the future shape the present. Centring in and around a large Special Economic Zone in south India, the book analyses anticipation amongst politicians, managers, workers, land-owners and activists. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Loraine Kennedy‘s The Politics of Economic Restructuring in India: Economic Governance and State Spatial Rescaling (Routledge, 2014) is a timely and important intervention into the debate on how economic liberalisation is transforming the Indian state. The book’s central argument is that these reforms have ‘rescaled’ the Indian state, with important consequences for growth and economic governance. This is perused through analyses of state strategies, Special Economic Zones and urban development, amongst others. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Dalits and Adivasis in India’s Business Economy: Three Essays and an Atlas (Three Essay Collective, 2013) is a wonderful new book by Barbara Harriss-White and small team of collaborators – Elisabetta Basile, Anita Dixit, Pinaki Joddar, Aseem Prakash and Kaushal Vidyarthee – published by the Three Essays Collective. The book explores the ways in which economic liberalisation interacts with caste, specifically in reference to scheduled castes and scheduled tribes, otherwise known as Dalits and Adivasis. A truly unique book, both in terms of how the data has been gathered and presented, the essays are variously wide and deep and ask a host of questions to inspire future research. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How did we come to think of spaces for the storage and circulation of body parts as “banks,” and what are the consequences of that history for the way we think about human bodies as property today? Kara W. Swanson‘s wonderful new book traces the history of body banks in America from the nineteenth century to today, focusing especially on milk, blood, and sperm. Banking on the Body: The Market in Blood, Milk, and Sperm in Modern America (Harvard University Press, 2014) takes readers into early twentieth-century America, when doctors first turned to human bodies and their parts as sources of material to help cure their most desperate cases. As these doctors developed an expertise in harvesting body products and sought reliable and cooperative supplies thereof, human milk and blood were first transformed into commodities. Swanson’s story introduces some of the most crucial actors in this history, including wet nurses, professional blood donors, Red Cross volunteer “Grey Ladies,” doctors, blood bank managers, mothers who ran milk banks, sperm donors, and many, many others. The story is deeply satisfying on many levels: as a window into particular human lives, as a conceptual history with material consequences, and as a set of case studies that illuminates and informs today’s legal and medical landscapes. This is a book that should be on the shelves and in the hands of anyone interested in legal history, medical history, modern notions of “property,” and the ways that the past had shaped what happens to our bodies in the present and what might happen to them 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

Lifeblood: Oil, Freedom, and the Forces of Capital (University of Minnesota Press, 2013) is an incisive look into how oil permeates our lives and helped shape American politics during the twentieth century. Author Matthew Huber shows the crucial role oil and housing policy played in the New Deal and how, in subsequent decades, government policies drove many Americans to the suburbs and increased their dependence on petroleum. Although such policies were central to suburbanization, Americans in these new neighborhoods tended to forget this fact, and instead, saw their success in the suburbs as the outcome of private achievements. Over time, such places became the crucible for the growth of neoliberalism. Lifeblood demonstrates the role oil played not only in suburbanization, but in the rightward shift of American politics over the past four decades. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

“Diamonds are forever” or “Blood diamonds”–the one a pithy marketing slogan showing how diamonds encapsulate enduring love and commitment and the other a call to conscience about the violence and suffering the quest for diamonds has entailed throughout Africa, the supplier of the majority of the world’s diamonds. In his engagingly written and concise history, Stones of Contention: A History of Africa’s Diamonds (Ohio University Press, 2014), Todd Cleveland looks at the scope and complexity of the African diamond industry and trade from the earliest expressions of international interest in the continent’s mineral wealth to the present day. He highlights the experiences of Africans and their involvement in the mining and processing of diamonds. From artisanal miners working alluvial deposits to company miner workers in South Africa to armed rebels in West Africa to successful industrial operations in Botswana and Namibia, Cleveland provides a panoramic and balanced perspective on both the history and the moral issues involved in assessing diamonds in Africa and their consumption globally. He examines efforts to regulate the diamond trade and offers reasons for optimism that out of these “stones of contention” programs for meaningful, equitable and effective economic and political development may emerge. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The new book, Constructing Neoliberalism: Economic Transformation in Anglo-American Democracies (University of Toronto Press, 2013) shows how political elites in Britain, New Zealand, Australia and Canada successfully introduced radically new economic policies in the 1980s. While opinion polls have consistently showed that neoliberal policies are not popular, governments in all four countries have continued implementing an agenda that includes government spending cuts, the privatization of state-owned enterprises and free trade. The book’s author, Jonathan Swarts, Associate Professor of Political Science at Purdue University North Central in northwestern Indiana, says he finds it fascinating how governments of all political stripes in the four Anglo-American democracies have adopted neoliberalism, which he calls a new “political-economic imaginary.” In this interview with the New Books Network, Professor Swarts discusses how political leaders in the four Anglo-American democracies brought about the neoliberal economic transformation using a combination of persuasion and coercion. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

An unflinching examination of the trauma, violence, opportunism, and vision that combined to create the empire for slavery that was the Old South, Ed Baptist‘s new book The Half Has Never Been Told: Slavery and the Making of American Capitalism (Basic Books, 2014) challenges popular conceptions of that region that imagine it as a land of proud men, genteel ladies, and an antiquated, inefficient system of labor. The slavery that Baptist uncovers is dynamic, relentless, brutal, and extremely profitable. Surviving it, he shows, was an impressive accomplishment all its own. And its role in driving the development of American capitalism in the formative years of the republic raises troubling questions about the legacy of slavery in contemporary times. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Staci Zavattaro is the author of the new book Cities for Sale: Municipalities as Public Relations and Marketing Firms (SUNY Press, 2013). Zavattaro is assistant professor of public administration at Mississippi State University. Cities have received renewed interest from political scientists recently. Previously, Ravi K. Perry was on the podcast to discuss his book Black Mayors, White Majorities: The Balancing Act of Racial Politics (University of Nebraska Press, 2014). Zavattaro approaches the local subject from the perspective of public administration and an eye toward the marketing of cities. You’d be hard presses to live in a community that hasn’t launched a new publicity campaign or a new slogan to attract new residents. Zavattaro tries to analyze these efforts and suggests that cities use six selling tactics to advance their interests: branding, media relations, in-house publications, use of volunteers and outside organizations as PR surrogates, aesthetic and affective appeal, and built environment via sustainability. Zavattaro acknowledges the limits of this metaphor and, in her conclusion, addresses the risks associated with a model of urban governance focused on marketing rather than other social values. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Since the 1990s, the music industry has been going through a massive transformation. After World War II, the primary way audiences participated in the music business in the period between 1945 and 1990 was by purchasing records and attending concerts. The internet and the mp3 file, however, have changed how people are listening to music. In Popular Music in a Digital Music Economy: Problems and Practices for an Emerging Service Industry (Routledge, 2014), Tim Anderson explores how the music industry is changing from selling records as its primary purpose to a new paradigm in which artists must be entrepreneurial, audiences are end users, and record companies are investing in music brands, not simply records. Anderson’s book is a great guide for this new world. In his book, he draws on a wide range of examples from Moby and Lupe Fiasco to Amanda Palmer and Jonathan Coulton. He also introduces readers to the role that music supervisors, such as Alexandra Pastavas, are playing in film and television. Dr. Tim Anderson is an associate professor at Old Dominion University in the Department of Communication and Theatre Arts. He is also the author of Making Easy Listening: Material Culture and Postwar American Recording. Dr. Anderson can be contacted at [email protected]. His website is http://timjanderson.weebly.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

John Nathan Anderson’s new book, Radio’s Digital Dilemma: Broadcasting in the 21st Century (Routledge, 2014), documents the somewhat tortured path of broadcast radio’s digital transition in the United States. Beginning his analysis with rise of neoliberal communications policy in the 1980s, Anderson charts the development of the idea of digitalization by closely examining two key archival sources: The Federal Communication Commission’s extensive archive of rulemaking and public comments and the archives of the two most important trade journals in broadcast radio, Radio World and Current. As Anderson explores in the book, FCC regulatory neglect coupled with the huge consolidation within the radio industry following the passage of the Telecommunications Act of 1996 resulted in a digital transition that was dictated largely by commercial interests. For example, the most important decision about digital radio – the engineering standard for digital broadcasting – was determined by a federation of corporations that formed a proprietary standard called HD Radio. This new digital standard was a failure on a number of levels, argues Anderson. First, it was at odds with the global digital radio standard, Eureka 147. Second, it caused unwanted interference with analog radio signals. Third, the corporate entity which owned the rights to the HD Radio standard, iBiquity, was determined to charge local stations a fee for using its digital radio standard. Once digital radio began to roll out across the nation in 2002, local stations’ and listeners’ complaints about interference and bad reception were effectively drowned out by a sustained marketing effort on behalf of HD Radio’s corporate partners. Today, the future of digital radio in the United States is in doubt: only 13% of all stations are broadcasting a digital signal. Throughout the book, Anderson argues that the lack of regulatory guidance and oversight, coupled with blind allegiance to market forces, has resulted in a radio environment that falls well short of our aspirations for a democratic media system. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The continued growth of online gaming and virtual worlds has effects not only in the analog world, with games and social media organizations taking stock options public, but also in the worlds created online. Many games and platforms allow users to involve themselves in virtual labor, to own property, and most importantly to make purchases. This one of areas where the analog and virtual crossover. And the question for platform providers becomes how to capitalize on user interest while earning money. In the new book Virtual Economies: Design and Analysis (MIT 2014), Vili Lehdonvirta, a research fellow at the Oxford Internet Institute, at the University of Oxford and Edward Castronova, professor of communications and cognitive science at Indiana University provide a detailed examination of the underpinnings and motivations for the creation of virtual economies. Lehdonvirta and Castronova consider various international examples to provide a comprehensive look at the markets that continue to be embedded into all kinds of online, and offline, interactions. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Jim Russell is a sociologist and it was his encounter with the hidden realities of his own 401(k) retirement plan that touched off his crusade to demystify for himself, and then others, just what was at stake in the options presented by private and public retirement plans. In Social Insecurity: 401(k)s and the Retirement Crisis (Beacon Press, 2014), he puts into plain language for ordinary Americans the arcane terminology used by retirement-fund managers, and uses his own real-life experiences to build an empathetic bond with anxiety-laden readers. Russell moves seamlessly between the personal and political, the present and past, the domestic and global. The holism of his sociology is Russell’s strongest suit. With admirable succinctness and clarity–this is economics for the-rest-of-us–he recounts the Chicago-school economics that spawned the right-wing privatization movement. He then situates in the emergence of neoliberalism the corporate campaign to move billions of dollars from American pension accounts under pubic and labor union control into private hands. Turns out, the privatization of pension funds is not just an accompanying feature of global neoliberal strategy but the bull’s eye of the target, ground zero of the attack on centrally planned economies like Chile’s under Allende, and the former Soviet Republics. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Brett Scott is the author of The Heretic’s Guide to Global Finance: Hacking the Future of Money (Pluto Press, 2013). Scott is a journalist, urban deep ecologist, and Fellow at the Finance Innovation Lab. While much of Scott’s book focuses on explaining various aspects of the financial services section, the heart of the book is a call to action. Scott infuses this call with a variety of first-hand experiences as a campaigner for radical approaches to disrupt the sector. For this reason, the book acts as a guide to activism, applicable for those interested in global finance, but also other domains that are ripe for criticism. His blog that he mentions at the end of the podcast can be found here. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Americans are very politically divided. Democrats say we need a more powerful welfare state while Republicans say we need to maintain the free market. The struggle, we are constantly informed, is one of ideas. And that it is in the worst possible sense, for neither the Democrats nor Republicans seem interested in evidence. They don’t want the facts to get in the way of their arguments. In his remarkable book The Political Economy of Human Happiness: How Voters’ Choices Determine the Quality of Life (Cambridge University Press, 2013), Benjamin Radcliff provides facts that should help both Democrats and Republicans, despite their many differences, decide how to proceed. He asks a simple, compelling question: do conservative or liberal public policies make people happier? After an extensive and sophisticated analysis of the data, he reaches an equally simple, compelling answer: liberal policies do. Radcliff is a great friend of the free market; it is obvious, he says, that capitalism is the best economic system we have at our disposal. But he is also pragmatic: all the evidence shows that free markets alone don’t make people as happy as markets combined with robust welfare and labor-protection programs. There is a lesson here for both Democrats and Republicans. Listen up. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Much of the progress in technology today has come about as a result of innovators who did not seek prior approval from regulatory bodies and such. Yet, even with the beneficial results from innovations like the commercial Internet, mobile technologies, and social networks, a disposition exists to be overly cautious with respect to new things. Adam Thierer calls this the “precautionary principle” in his new book Permissionless Innovation: The Continuing Case for Comprehensive Technological Freedom (Mercatus Center, 2014). The “precautionary principle”–which, Thierer argues, is based on fear and concern about loss of control–limits the creativity inherent in unfettered tinkering. In contrast, Thierer advocates “permissionless innovation,” an attitude that would allow experimentation to continue without hinderance. Of course does not mean that there is no use for policies for new technology, as some developments require regulation. Policymakers should, however, take a “wait and see” approach to setting rules for innovative products. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Nicholas Carnes is the author of White-Collar Government: The Hidden Role of Class in Economic Policy Making (University of Chicago Press, 2013). Carnes is an assistant professor of public policy in the Sanford School of Public Policy at Duke University. There is surprisingly little in the research literature on the link between social class and legislative behavior. For a topic that seems so ripe for investigation, Carnes’ data collection and analysis open new ground and answer pressing questions. He shows that formerly blue collar workers who serve in Congress behave differently than formerly white collar workers. Blue collar workers are in the extreme minority in numbers, meaning their efforts to pass legislation that tilts towards the working class are often stymied. Carnes offers fresh insight into why this matters for representation more generally and several recommendations for how to rectify this 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

In 1927 Russian-American legal theorist Alexander Sack introduced the doctrine of “odious debt.” Sack argued that a state’s debt is “odious” and should not be transferable to successor governments after a revolution, if it was incurred without the consent of the people; and not for their benefit. This doctrine has largely been rejected, with a firm presumption of “sovereign continuity” emerging instead: post-revolutionary governments must repay sovereign debt even if it was incurred to cover the personal expenses of plutocrats. If they fail to do so, their credit reputation is harmed. As Odette Lienau explains in a striking line, “we can now imagine prosecuting the leaders of a fallen regime for crimes against a state’s population while simultaneously asking that population to acknowledge and repay the fallen regime’s debts.” In Rethinking Sovereign Debt: Politics, Reputation, and Legitimacy in Modern Finance (Harvard University Press, 2014), Lienau unfolds the historical conditions from which this seeming inconsistency emerged. Seamlessly moving between case studies from the early 20th century to the present, Lienau discusses several different versions of this puzzle. Ultimately, Lienau ends up rejecting “sovereign continuity,” and arguing for the recognition of “principled default.” With revolutions and uprisings across the Middle East, and in Ukraine, this book’s argument will likely provoke lively discussion among lawyers, economists, political theorists, and historians. But lay people should ideally engage with the ideas as well. The book gives an extraordinary point of access into what is at stake in the work of enormous international organizations, such as the World Bank. *Photo by Frank DiMeo Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The British Marxist economist Maurice Dobb is now largely forgotten. That’s too bad for a number of reasons. He was a brilliant thinker who wrote some of the most insightful analyses of the development and workings of capitalism around. You can still read his work and profit. He was the intellectual godfather of several notable British Marxist historians of the “New Left” of the 1960s and 1970s: Rodney Hilton, Christopher Hill, E.P. Thompson, among others. And, perhaps most importantly, his life gives us a window into a forgotten time, one in which a economists took communism seriously and fellows at Cambridge could earnestly believe in a bright communist future. This, I think, is a time we must not forget. Thanks to Timothy Shenk‘s well-researched, readable biography Maurice Dobb: Political Economist (Palgrave-Macmillan, 2013), we won’t have to. Shenk tells Dobb’s tale in all its tortured complexity. A member of the establishment and an anti-establishmentarian. A dyed-in-the-wool Marxist and a deadly serious empirically-oriented economist. A supporter of the Soviet Union and a critic of Soviet power. Listen in. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The cultural and material history of what is fashionable or “trendy” can be particularly revealing about the time period under study. The most recent work that underscores this point is Jennifer Anderson‘s Mahogany: The Cost of Luxury in Early America (Harvard University Press, 2012). Anderson traces the popularity of mahogany wood in the mid eighteenth century from its use in England–a matter of necessity due to wood shortages–to its elective use in the American colonies among elite classes as a measure of cultural and social refinement. Unlike ephemeral goods like sugar and tobacco (which were purchased by elites but consumed and discarded shortly thereafter) mahogany was something solid, something lasting, something passed down to subsequent generations. Social engagements revolved around mahogany. Elites coveted the intricate and ornate furnishings, which because of mahogany’s incredible density, could only be crafted with mahogany. Even the middling classes would indulge in purchasing a mahogany piece, if the financial possibility presented itself. To be sure, this book offers much more than a dissection of the social and cultural worlds of Early America. Anderson tells the darker, often hidden story, of human and environmental exploitation. Following mahogany from the slave hands that felled the trees in the West Indies to the polished products decorating the posh estates of the wealthiest colonists offers a unique insight into a dynamic range of historical characters. By doing so, Professor Anderson deftly blends the social story with the environmental history and the history of capitalism. Jennifer L. Anderson is Associate Professor of History at State University of New York, Stony Brook. Her current research focuses on reinterpreting the human and environmental history of Long Island within the broader Atlantic context. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Aswin Punthamabekar‘s From Bombay to Bollywood: The Making of a Global Media Industry (New York University Press, 2013) offers a deeply researched and richly theorized look at the evolution of the world’s largest film industry over the past few decades. Combining ethnographic research with close textual analyses of Bollywood films, Punthamabekar shows how the media industry’s growth has been complexly intertwined with India’s emerging place in the global economy. The book offers a nuanced look at globalization, bringing to light the tensions and productivities that emerge when a highly powerful, historically localized industry enters the world of multinational capitalism. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Pedro Oliveira provides a fascinating glimpse into his transition from academia into consultancy, with a guide for those like minded to boot. People-Centered Innovation: Becoming a Practitioner in Innovation Research (Biblio Publishing, 2013) chronicles Oliveira’s journey from his work as a clinical psychologist in Portugal, to becoming an anthropologist in the UK, and moving into the world of business and innovation. Written for a general audience, this book is a mix of case studies, theory for practitioners, and autobiographical information that shows how to apply work in the social sciences to the problems facing businesses today. This is a great read for anyone interested in psychology and anthropology, as well as how business and innovation is changing due to the influence of the humanistic sciences. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Kevin Kerrane‘s Dollar Sign on the Muscle: The World of Baseball Scouting (CreateSpace, 2013) represents the first major study of the history and practice of professional baseball scouting. Based on Kerrane’s ethnographic research with the Philadelphia Phillies during the 1981 season, the book provides an inside look at one of sports’ least understood professions and most unusual subcultures. Originally released in 1984, the book became a cult favorite among baseball analysts and historians, eventually finding a place on Sports Illustrated‘s list of the top 100 sports books of all time. For the past decade the book has been notoriously hard to find, with copies selling for up to $50 on eBay. It is now widely available in rerelease from Baseball Prospectus, the leading voice in progressive, contemporary baseball research. In addition to the original text, the rerelease features a new introduction and an extended epilogue updating the book for the 2010s. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Branding the Nation: The Global Business of National Identity, Melissa Aronczyk locates the rise of nation branding as a response to the perceived need to sculpt national identity in the face of a fiercely competitive global economy. In tracking the history of the nation-branding phenomenon, Aronczyk recounts the rise and spread of the very idea of national “competitiveness,” a discourse that, in effect, created a market that branding specialists then tapped. The book engages with the large scholarly literature on nations and nationalism, arguing that nation branding should not be dismissed as merely the invasion of business practices into the national imaginary–though it has this character, undeniably–but that the practice should also be read as a discourse that maintains, extends, and reconstitutes the nation. Based on dozens of interviews with nation-branding specialist over a five-year period, Aronczyk develops major case studies of Poland and Canada in particular, and substantial treatments of a number of other cases spanning the globe, including Botswana, Chile, Estonia, Georgia, Jamaica, and Libya. In Branding the Nation, Aronczyk tells the story of how national identity came to be seen, and sold, as a form of added value in a competitive global market, and how these campaigns fed back into the ongoing process of thinking, and imagining, the nation. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Philip Mirowski is author of Never Let A Serious Crisis Go To Waste: How Neoliberalism Survived the Financial Meltdown (Verso Books 2013). Mirowski is the Carl Koch Chair of Economics and the History of Philosophy at the University of Notre Dame. He’s previous authored Science-Mart, Machine Dreams, and More Heat than Light. Mirowski brings his broad background as an economist, historian, and philosopher to this meaty subject. He weaves together a stinging critique of the ways many economists reacted to the recent economic crisis with a larger discussion of the nature of economic ideas in politics. He highlights the rise of the Mont Pelerin Society and its links to what he dubs the Neoliberal Thought Collective. Rather than resting on broad generalities, he distinguishes between famed neoliberals to show how, for example, Milton Friedman and George Stigler approach their advocacy in very different ways. Philip Mirowski is a contributor to Public Books. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

While it has become typical to see Filipina/o migrants working in nursing or domestic work in the United States, many are surprised to see Filipina/os doing the same work in Hong Kong, Israel, and Dubai. Indeed, Filipina/o workers are ubiquitous around the globe, and may be the world’s first truly global labor force. In Robyn Rodriguez‘s new book, Migrants for Export: How the Philippine State Brokers Labor to the World (University of Minnesota Press, 2010),Rodriguez explores labor brokerage as a global capitalist strategy wherein the Philippine state mobilizes its citizens and sends them abroad to work for employers throughout the world while generating profit from the remittances that migrants send back to their families and loved ones remaining in the Philippines. Rodriguez traces this trend in Filipina/o overseas workers, which has become one of the largest labor export systems in the world. Ultimately, she questions how and why citizens from the Philippines have come to be the most globalized workforce on the planet, and argues that the reason for this lies in the emergence of the Philippine state as a labor brokerage state. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Life insurance! The very word sends shivers of excitement down the spine. OK, maybe not . . . but Sharon Murphy‘s book on the development of the life insurance industry in the United States from its infancy in the early republic through its breakthrough as a mass industry during the Civil War might make you change your mind. Deeply researched but also deeply entertaining (really!), Investing in Life: Insurance in Antebellum America (Johns Hopkins University Press, 2010; paperback, 2013) describes how the early pioneers of the insurance industry figured out how to sniff out frauds, figure mortality tables, market themselves to a suspicious population, and tap into middle class hopes and anxieties — especially middle-class Americans reticence about thinking about death (their death, at least). Investing in Life will change what you think about the history of business in the United States. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

George Brock approached his book about newspapers and journalism in the digital age unwilling to write another gloom-and-doom narrative about the death or decline of the industry. When he studied the historical development of journalism and current trends, he found the industry is what is always has been: volatile, evolving, and vital to society’s well being. Out of Print: Newspapers, Journalism and the Business of News in the Digital Age (Kogan Page, 2013) is an important look at the industrial, economic, and pragmatic realities of a shifting industry. Using modern case studies, including the phone-hacking scandal that brought down Great Britain’s News of the World, as well as historical research and recent data, Brock examines where journalism was, is and will be. Brock, head of City University London’s prestigious graduate school of journalism, has produced a work that transcends academia without sacrificing methodology or theory. “Because journalism lives on the frontier between democratic purposes and the commercial market,” Brock writes, “it is constantly being reorganized and renegotiated.” Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics