New Books in Economics

Hosts Nina dos Santos and Owen Bennett-Jones analyze the global fallout after Donald Trump plunged America and the world into a trade war with China. David Rennie, The Economist’s geopolitics editor and former Beijing and Washington D.C. bureau chief, joins the podcast to unpack how Xi Jinping is playing the long game and playing to win. In this episode, we explore Xi’s high-stakes strategy in the global trade war. From embracing economic pain to fostering innovation under autocracy, China is challenging Western dominance on every front. However, as the controversy over British Steel demonstrates, Beijing’s drive to exert control often at the expense of freedoms abroad—risks alienating future partners. In the second half, activist Chloe Chung shares her personal story of falling afoul of the Chinese authorities. A pro-democracy campaigner, Chloe awoke in December to news that police in Hong Kong had issued a HK$1 million ($128,000; £102,000) bounty for information leading to her capture abroad. With democracy under pressure, this is more than just a trade war—it’s a battle for the future of the global order. Producer: Pearse Lynch Executive Producer: Lucinda Knight Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In 2012, Steve Green, billionaire and president of the Hobby Lobby chain of craft stores, announced a recent purchase of a Biblical artefact—a fragment of papyrus, just discovered, carrying lines from Paul's letter to the Romans, and dated to the second century CE. Noted scholar Roberta Mazza was stunned. When was this piece discovered, and how could Green acquire such a rare item? The answers, which Mazza spent the next ten years uncovering, came as a shock: the fragment had come from a famous collection held at Oxford University, and its rightful owners had no idea it had been sold. The letter to the Romans was not the only extraordinary piece in the Green collection. They soon announced newly recovered fragments from the Gospels and writings of Sappho. Dr. Mazza's quest to confirm the provenance of these priceless fragments revealed shadowy global networks that make big business of ancient manuscripts, from the Greens' Museum of the Bible and world-famous auction houses like Sotheby's and Christie's, to antique shops in Jerusalem and Istanbul, dealers on eBay, and into the collections of renowned museums and universities. Dr. Mazza's investigation informs her book, Stolen Fragments: Black Markets, Bad Faith, and the Illicit Trade in Ancient Artefacts (Redwood Press, 2024), and forces us to ask what happens when the supposed custodians of our ancient heritage act in ways that threaten to destroy it. Stolen Fragments illuminates how these recent dealings are not isolated events, but the inevitable result of longstanding colonial practices and the outcome of generations of scholars who have profited from extracting the cultural heritage of places they claim they wish to preserve. Where is the boundary between protection and exploitation, between scholarship and larceny? Our guest is: Dr. Roberta Mazza, who is Associate Professor of Papyrology at the University of Bologna. She previously held positions at the University of Manchester, where she was honorary curator of the Manchester Museum, and at the University of California, Berkeley. Our host is: Dr. Christina Gessler, who works as a developmental editor for scholars, and is the producer of the Academic Life podcast. Playlist for listeners: A Conversation with Curators from the Smithsonian The House on Henry Street Archival Etiquette: What to know before you go Project Management for Researchers Where Research Begins The Museum of Failure Welcome to Academic Life, the podcast for your academic journey—and beyond! You can support the show by downloading and sharing episodes. Join us to learn from experts inside and outside the academy, and around the world. Missed any of the 250+ Academic Life episodes? Find them here. And thank you for listening! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The secret insights of economics, translated for the rest of us. Should I buy or rent? Do I ask for a promotion? Should I tell people I’m pregnant? What salary do I deserve? Should I just quit this job? Common anxieties about life are often grounded in economics. In an increasingly win-lose society, these economic decisions—where to work, where to live, even how to live—have a way of feeling fixed and mistakes terminal. Daryl Fairweather is no stranger to these dynamics. As the first Black woman to receive an economics PhD from the famed University of Chicago, she saw firsthand how concepts of behavioral economics and game theory were deployed in the real world—and in her own life—to great effect. Hate the Game: Economic Cheat Codes for Life, Love, and Work (U Chicago Press, 2025) combines Fairweather’s elite knowledge of these principles with her singular voice in describing how they can be harnessed. Her great talent, unique among economists, is her ability to articulate economic trends in a way that is not just informative, but also accounts for life’s other anxieties. In Hate the Game, Fairweather fixes her expertise and service on navigating the earliest economic inflection points of adult life: whether to go to college and for how long; partnering, having kids, both, or neither; getting, keeping, and changing jobs; and where to live and how to pay for it. She speaks in actionable terms about what the economy means for individual people, especially those who have the sneaking suspicion they’re losing out. Set against her own experiences and enriched with lessons from history, science, and pop culture, Fairweather instructs readers on how to use game theory and behavioral science to map out options and choose directions while offering readers a sense of control and agency in an economy where those things are increasingly rare. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Against the Crisis: Economy and Ecology in a Burning World (Verso, 2024), Ståle Holgersen develops a conceptualization of 'crisis' that moves beyond simplistic understandings of societal turbulence or even disaster, arguing that crises have come to mean something very specific. Where previous analyses have treated economic and ecological crises as separate phenomena, Holgersen reveals their profound interconnection within capitalism's contradictions. Central to the book is the idea that both economic and climate crises are crises of capitalism specifically, and the powers that be are not willing to acknowledge it. Holgersen delves into today’s economic and ecological crises to demonstrate that they are not exceptions to an otherwise functioning system but integral to its operation. It is naive to see these upheavals as opportunities for reform or revolution. They are the bedrock of the status quo. Fortunately, the vicious circle sustaining capitalism is not founded on an iron law. Our historical mission in the face of the climate crisis is to create a historical exception to the rule. It is time for ecosocialism against crisis. About the Author: Ståle Holgersen is a Senior Lecturer in Human Geography at Stockholm University, Sweden. He is a member of two research collectives: the Zetkin Collective (ecosocialist group working on political ecologies of the far right) published White Skin, Black Fuel on Verso in 2021 and Fundament (a housing research collective) published Kris i Bostadsfrågan on Daidalos in 2023. This is his first monograph in English. About the Host: Stuti Roy has recently graduated with an MPhil in Modern South Asian Studies from the University of Oxford. She has a BA in Political Science from the University of Toronto. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

John Kay's The Corporation in the 21st Century: Why (Almost) Everything We Are Told about Business Is Wrong (Yale UP, 2025) is an accessible and entertaining reappraisal of what business is for and how it works. Full of history and written in a compelling narrative style, this book describes a shift in the underlying assumptions of the relationship between capital & labor. Kay describes how and why we have come to "love the product" as we also "hate the producer". Kay discusses areas of particular change such as the relationship between business & finance, the concept of the "hollow" corporation, what we mean when we say "growth", and the motivations and standards of industry leaders. Old ideas of owning the means of production are redundant as workers are increasingly the means of production. Capital is now often a disconnected service contracted from a specialized supplier, and businesses are run by professional managers whose main skill is exerting authority. Author recommended reading: Good Strategy, Bad Strategy by Richard Rumelt Hosted by Meghan Cochran Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

What explains the growing divide between elites and the broader public in democracies across Europe and the United States? In this episode of International Horizons, sociologist Wolfgang Streeck joins RBI director John Torpey to discuss the rise of populism, the limits of globalism, and the tensions between democracy and capitalism. Drawing from his recent book, Taking Back Control? States and State Systems After Globalism (Verso, 2024), Streeck examines how market forces, technocracy, and the erosion of national sovereignty have fueled discontent across the transatlantic world. He also reflects on the educational divide shaping political cleavages, the challenges posed by immigration, and the implications of U.S. foreign policy and security commitments in Europe and beyond. The conversation explores the shifting foundations of the postwar international order and the prospects for a more democratic and egalitarian global system. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In this episode of International Horizons, Peter Andreas, John Hay Professor of International Studies at Brown University and author of Border Games: The Politics of Policing the U.S.-Mexico Divide, 3rd edition (Cornell UP, 2022) and The Illicit Global Economy (Oxford UP, 2025), joins RBI Director John Torpey to unpack the myths and realities of border control, illicit trade, and tariffs in the era of Trump. Why do Trump’s border policies resonate with so many despite lower deportation numbers than previous administrations? How are fentanyl, tariffs, and military threats shaping U.S. relations with Mexico and Canada? Andreas explains the performative politics of the border, the historical amnesia around immigration enforcement, and why the lines between legal and illegal economies are blurrier than we think. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

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Peoples & Things host, Lee Vinsel, talks with retired professor, consultant, Discovery Institute fellow, and a winner of the NTT DoCoMo Mobile Science Award, Jeffrey Lee Funk, about his recent book Unicorns, Hype, and Bubbles: A Guide to Spotting, Avoiding, and Exploiting Investment Bubbles in Tech (Harriman House, 2024). The book provides readers with fundamental tools for exploring technology markets and spotting financial bubbles, which have been recurring at a high rate in recent decades. In addition to talking through the basic perspectives the book provides, Vinsel and Funk also talk through examples of recent technology bubbles, including the likely current bubble centered on generative AI. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

A riveting expose of the global oil industry' s multi-decade conspiracy to muddy the waters around the science of climate change and use the Australian government to undermine worldwide efforts to address environmental devastation. Researched and written by one of Australia' s most fearless investigative journalists, Slick: Australia's Toxic Relationship with Big Oil (U Queensland Press, 2024) reveals how the US petroleum industry was warned about its environmental impacts back in the 1950s and yet went on to build the Australian oil industry, which in turn tried to drill the Great Barrier Reef, sought to strongarm governments, and joined a global effort to bury the science of climate change and delay action despite knowing the harms it would cause. Slick also tells the stories of fire and flood survivors, as well as of the activists engaged in a high-risk fight for the future of Australia and of the efforts being made to save ourselves from catastrophe. In this superb, in-depth work of journalism, Royce Kurmelovs provides an on-the-ground examination of how the fossil fuel industry captured Australia, and outlines what' s at stake for the survival of the planet and our democracy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Religion in the twenty-first century is alive and well across the world, despite its apparent decline in North America and parts of Europe. Vigorous competition between and within religious movements has led to their accumulating great power and wealth. Religions in many traditions have honed their competitive strategies over thousands of years. Today, they are big business; like businesses, they must recruit, raise funds, disburse budgets, manage facilities, organize transportation, motivate employees, and get their message out. In The Divine Economy (Princeton UP, 2024), economist Paul Seabright argues that religious movements are a special kind of business: they are platforms, bringing together communities of members who seek many different things from one another—spiritual fulfilment, friendship and marriage networks, even business opportunities. Their function as platforms, he contends, is what has allowed religions to consolidate and wield power. This power can be used for good, especially when religious movements provide their members with insurance against the shocks of modern life, and a sense of worth in their communities. It can also be used for harm: political leaders often instrumentalize religious movements for authoritarian ends, and religious leaders can exploit the trust of members to inflict sexual, emotional, financial or physical abuse, or to provoke violence against outsiders. Writing in a nonpartisan spirit, Seabright uses insights from economics to show how religion and secular society can work together in a world where some people feel no need for religion, but many continue to respond with enthusiasm to its call. Paul Seabright teaches economics at the Toulouse School of Economics, and until 2021 was director of the multidisciplinary Institute for Advanced Study in Toulouse. From 2021 to 2023, he was a Fellow of All Souls College at the University of Oxford. His books include The War of the Sexes: How Conflict and Cooperation Have Shaped Men and Women from Prehistory to the Present and The Company of Strangers: A Natural History of Economic Life (both Princeton). Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

China’s breathtaking economic development has been driven by bureaucrats. Even as the country transitioned away from socialist planning toward a market economy, the economic bureaucracy retained a striking degree of influence and control over crafting and implementing policy. Yet bureaucrats are often dismissed as faceless and inconsequential, their role neglected in favor of party leaders’ top-down rule or bottom-up initiatives.< Markets with Bureaucratic Characteristics (Columbia UP, 2024) offers a new account of economic policy making in China over the past four decades that reveals how bureaucrats have spurred large-scale transformations from within. Yingyao Wang demonstrates how competition among bureaucrats motivated by careerism has led to the emergence of new policy approaches. Second-tier economic bureaucrats instituted distinctive―and often conflicting―“policy paradigms” aimed at securing their standing and rewriting China’s long-term development plans for their own benefit. Emerging from the middle levels of the bureaucracy, these policy paradigms ultimately reorganized the Chinese economy and reshaped state-market relations. Drawing on fine-grained biographical and interview data, Wang traces how officials coalesced around shared career trajectories, generational experiences, and social networks to create new alliances and rivalries. Shedding new light on the making and trajectory of China’s ambitious economic reforms, this book also provides keen sociological insight into the relations among bureaucracy, states, and markets. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Economist Bryan Caplan has written—and artist Ady Branzei has illustrated—this new graphic novel about housing regulation (if ‘novel’ can be applied to an imaginative essay on a nonfiction topic), Build Baby Build: The Science and Ethics of Housing Regulation (Cato Institute, 2024). The thesis of the work is that regulation has driven up the cost of housing and ‘manufactured scarcity.’ Regulation is always well intentioned but often ill considered, as Caplan shows, and every benefit—‘free’ parking, zoning restrictions, environmental considerations—is provided by a hidden cost to the consumer and the tax-payer, disproportionately born by the poor (ironically the people they are supposed to be helping). This conversation touched on other areas where free-market principles conflict with government interventions: bike lanes, environmental policy, immigration, and public education, especially at the taxpayer-supported university, a topic that Bryan Caplan discussed last time he was on the New Books Network, in his 2018 interview with Editor-in-Chief Marshall Poe when they discussed his earlier book, The Case Against Education. Bryan Caplan is a professor of economics at George Mason University, a senior research fellow at the Mercatus Center, an adjunct scholar at the Cato Institute; his blog on Substack is called Bet on It. Krzysztof Odyniec is a historian of Medieval and Early Modern Europe; his dissertation is a forthcoming book, published by Brepols: Dantiscus: Diplomat and Traveller in Sixteenth-Century Europe. He is a regular host on the New Books Network also the host of the 'Almost Good Catholics' podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The word Leader often brings to mind the heroic image of a charismatic, confident, and persuasive person who seems to "know" what to do in an instinctual, gut-driven way. In Decision Leadership: Empowering Others to Make Better Choices (Yale UP, 2022), Don A. Moore and Max H. Bazerman offer a well-researched and compelling corrective to this view. They describe organizations as decision factories in which effective leaders are not lone heroes, but decision architects who design situations and policies that enable those around them to make wise, ethical choices that are consistent both with their own interests and the organization's values. Built on a foundation of behavioral economics and decision science research, this book is full of real-life stories and concrete examples of the incentives, structures, and systems that can be used to guide negotiations and decision making. This approach avoids many of the common pit-falls of overconfidence and dependence on a few heroic figures, allowing strong leaders to have positive impact far beyond their limited individual range. Authors recommended reading: Negotiation: The Game Has Changed by Max H. Bazerman Perfectly Confident: How to Calibrate Your Decisions Wisely by Don A. Moore Also by these authors: Judgment in Managerial Decision Making by Max H. Bazerman and Don A. Moore Hosted by Meghan Cochran Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Canada is experiencing a housing shortage. Although house prices in major Canadian cities appeared to have topped out, new housing isn’t coming onto the market quickly enough. Higher interest rates have only tightened the pressure on buyers, and renters, too, as rising mortgage rates cost landlords more, which are passed along to tenants in rent increases. Even with recent federal budget commitments to bring more housing online by 2030, there will still be a shortfall of 3.5 million homes by then. Gregor Craigie is a CBC journalist in Victoria, one of the highest-priced housing markets in the country. On his daily radio show On The Island he's been talking for over 17 years to local experts and to those across the country about housing. Craigie has travelled to many of the places he profiles in the book, and in his interviews with Canadians he presents the human face of the shortfall as he speaks with renters, owners and homeless people, exploring their varying predicaments and perspectives. He then shows, through comparable profiles of people across the globe, how other North American and international jurisdictions (Tokyo, Paris, Berlin, Helsinki, Singapore, Ireland, to name a few) are housing their citizens better, faster and with determination—solutions that could be put into practice here. With passion, knowledge and vigour, Craigie explains how Canada reached this critical impasse and will convince those who may not yet recognize how badly our entire country is in need of change. Our Crumbling Foundation provides hope for finding our way out of the crisis by recommending a number of approaches at all levels of government. The prescription for how we’re going to house ourselves, and do so equitably, requires not just a business solution, nor simply a social solution, but rather a combination of both, working hand-in-hand with all levels of government, and quickly, in order to catch up with and outpace the needs of Canadians in this ever-intensifying crisis over a basic human right. Gregor Craigie is the host of On The Island on CBC Radio One in Victoria. He is also the author of the nonfiction work On Borrowed Time: North America's Next Big Quake and the Radio Jet Lag. Alex Hallbom is a Registered Professional Planner in British Columbia, Canada. He sits on the editorial board of Plan Canada, the professional publication for planners in Canada, and publishes periodically in Plan Canada and Planning West. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Hundreds of thousands of Canadians exist on the edge. Renters fear eviction, homeowners feel trapped, and both are vulnerable to becoming homeless with a single stroke of misfortune. Unaffordable housing in Canada is tearing communities apart as long-time residents seek affordable housing elsewhere and businesses shutter because they cannot find staff who can afford to live nearby. For two generations, Canadians have watched affordable housing vanish while other nations have been tackling the problem. In Home Truths: Fixing Canada's Housing Crisis (On Point Press, 2024), housing expert Carolyn Whitzman reviews the decades of policy that have gotten us into this mess and shows how all levels of government can work together to provide affordable housing where it is needed. Her compelling arguments for policy solutions are backed by ideas from researchers, planners, politicians, developers, and housing advocates at home and abroad. Home Truths addresses Canada’s crisis from all sides, including exploring what adequate housing looks like, providing ideas on how to resolve homelessness, explaining why nonmarket housing is crucial for Canada, and showing how and why to tackle ever-growing wealth disparities between renters and those who own. From policymakers, planners, developers, and observers needing to understand Canada’s housing struggles through to Canadians seeking ideas for a new way forward, Home Truths is a critical read for a nation on edge. Carolyn Whitzman is a leading housing and senior policy researcher. She has authored, coauthored, or lead-edited six previous books, the most recent being Clara at the Door with a Revolver. She has undertaken research for the Office of the Federal Housing Advocate, the Canada Mortgage and Housing Corporation, the Alliance to End Homelessness Ottawa, and many other organizations. Alex Hallbom is a Registered Professional Planner in British Columbia, Canada. He sits on the editorial board of Plan Canada, the professional publication for planners in Canada, and publishes periodically in Plan Canada and Planning West. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

On this episode, rural sociologist Dr. Irna Hofman explores how Tajikistan’s cotton fields illuminate shifting power dynamics in Central Asia, historically and in the present. She discusses how the Soviet Union once showcased cotton production to visiting delegations—particularly from Muslim-majority countries—as evidence of its development model. Now, as global powers, including Russia, China, and the EU, vie for influence in the region, cotton has again become a strategic commodity—used to forge political ties, secure resources, and drive infrastructure projects. Hofman highlights local communities’ active role in shaping these developments, emphasizing that rural landscapes are not simply backdrops for a “New Great Game,” but sites where broader geopolitical forces and grassroots agency intersect. Through her long-term fieldwork, she illustrates how Tajik farmers navigate and negotiate these overlapping external interests, and in doing so, reframe Central Asia’s future amidst geopolitical tensions. Dr. Hofman specializes in agrarian and social change in Central Asia, where she has worked since 2012. She completed post-doctoral research at Oxford's Faculty of Asian and Middle Eastern Studies as part of an ERC-funded project "China, law and development." In 2019, she obtained her Ph.D. from Leiden University in the Netherlands with a dissertation focused on the political economy of agrarian transformation in Tajikistan: "Cotton, control, and continuity in disguise: The political economy of agrarian transformation in lowland Tajikistan." Her research interests span political economy, political ecology, and political sociology. In recent years, she has focused on rural labour, gender, and commodity politics. Dr. Hofman is completing a monograph based on her dissertation and post-doctoral research projects. Her research agenda for the coming years centers on the rural everyday of geopolitics, focusing on China's growing assertiveness in the global agrifood regime, shifting geographies of production, and rural labour. Dr Irna Hofman | School of Geography and the Environment | University of Oxford @irnahofman Resources: Hofman, I. (2024) Seeds of empire or seeds of friendship? The politics of the diffusion of Chinese crop seeds in Tajikistan. Journal of Agrarian Change, 24(2): e12581. Hofman, I. (2022) Tajikistan. The people's map of global China Hofman, I. (2021) Migration, crop diversification, and adverse incorporation: Understanding the repertoire of contention in rural Tajikistan. Canadian Journal of Development Studies, 42(4): 499-518. Hofman, I. (2021). Chinese cotton diplomacy in Tajikistan: greasing the ties by reviving the cotton economy. Research Brief. Hofman, I. (2018). Politics or profits along the “Silk Road”: What drives Chinese farms in Tajikistan and helps them thrive? In The Geoeconomics and Geopolitics of Chinese Development and Investment in Asia, pp. 183-208. Routledge. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The Library of Mistakes is a library located in Edinburgh, Scotland dedicated to financial and economic history. Russell Napier, the founder and keeper of the library is a professor at The Edinburgh Business School and investment manager. In this wide-ranging discussion, Russell discusses his work as a practitioner and a scholar of financial crises. He also discusses how and why he started a library, in addition to his writing on financial history. Professor Russell Napier is the author of The Solid Ground investment report for institutional investors and co-founder of the investment research portal ERIC- a business he now co-owns with D.C. Thomson. Caleb Zakarin is editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Why has the United Kingdom, historically one of the strongest democracies in the world, become so unstable? What changed? Late Soviet Britain: Why Materialist Utopias Fail (Cambridge UP, 2023) demonstrates that a major part of the answer lies in the transformation of its state. It shows how Britain championed radical economic liberalisation only to weaken and ultimately break its own governing institutions. The crisis of democracy in rich countries has brought forward many urgent analyses of neoliberal capitalism. This book explores for the first time how the 'governing science' in Leninist and neoliberal revolutions fails for many of the same reasons. These systems may have been utterly opposed in their political values, but Abby Innes argues that when we grasp the kinship in their closed-system forms of economic reasoning and their strategies for government, we may better understand the causes of state failure in what remains an inescapably open-system reality. Abby Innes is Associate Professor of Political Economy in the European Institute at the LSE. Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Critics on the Left have long attacked open markets and free trade agreements for exploiting the poor and undermining labor, while those on the Right complain that they unjustly penalize workers back home. In Open: The Progressive Case for Free Trade, Immigration, and Global Capital (Harvard University Press, 2019), Kimberly Clausing takes on old and new skeptics in her compelling case that open economies are actually a force for good. Turning to the data to separate substance from spin, she shows how international trade makes countries richer, raises living standards, benefits consumers, and brings nations together. At a time when borders are closing and the safety of global supply chains is being thrown into question, she outlines a clear agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy and establish a better partnership between labor and the business community. Kimberly Clausing holds the Eric M. Zolt Chair in Tax Law and Policy at the UCLA School of Law. During the first part of the Biden Administration, Clausing was the Deputy Assistant Secretary for Tax Analysis in the US Department of the Treasury, serving as the lead economist in the Office of Tax Policy. Prior to coming to UCLA, Clausing was the Thormund A. Miller and Walter Mintz Professor of Economics at Reed College. Professor Clausing is also a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. She has worked on economic policy research with the International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress. She has testified before the House Ways and Means Committee, the Senate Committee on Finance, the Senate Committee on the Budget, and the Joint Economic Committee. Professor Clausing received her B.A. from Carleton College in 1991 and her Ph.D. from Harvard University in 1996, both in economics. Other New Books Networks interviews on related themes include Yale economist Penny Goldberg, former Chief Economist of the World Bank, on The Unequal Effects of Globalization, Princeton economist Leah Boustan on how immigrants have contributed to and rapidly assimilated into US society, and University of Massachusetts economist Isabella Weber on China's process of integration into the world economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Digital technologies have changed how we shop, work, play, and communicate, reshaping our societies and economies. To understand digital capitalism, we need to grasp how advances in geospatial technologies underpin the construction, operation, and refinement of markets for digital goods and services. In The Map in the Machine: Charting the Spatial Architecture of Digital Capitalism (U California Press, 2024), Luis F. Alvarez Leon examines these advances, from MapQuest and Google Maps to the rise of IP geolocation, ridesharing, and a new Earth Observation satellite ecosystem. He develops a geographical theory of digital capitalism centered on the processes of location, valuation, and marketization to provide a new vantage point from which to better understand, and intervene in, the dominant techno-economic paradigm of our time. By centering the spatiality of digital capitalism, Alvarez Leon shows how this system is the product not of seemingly intangible information clouds but rather of a vast array of technologies, practices, and infrastructures deeply rooted in place, mediated by geography, and open to contestation and change. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

China's household debt has exploded from 11% of GDP in 2006 to over 62% today—a profound transformation in a traditionally savings-focused society. How is this reshaping social relationships and daily life? In this episode, Dr. Jiaqi Guo from the University of Turku reveals findings from her corpus analysis of China's largest debt support forum. Her research uncovers the practice of "contact bombing" (爆通讯录), where collectors harass debtors' entire social networks, causing what Chinese debtors call "social death" (社死). With minimal institutional protection, desperate debtors are forming underground support networks and developing their own legal expertise. This cultural shift exposes a human dimension of China's economic growth that statistics alone cannot capture. Dr. Jiaqi Guo is a University Lecturer in Chinese at the University of Turku, Finland. This episode is hosted by Hanna Holttinen, University Teacher in Chinese language at the University of Turku, Finland. The Nordic Asia Podcast is a collaboration sharing expertise on Asia across the Nordic region, brought to you by the following academic partners: Asia Centre, University of Tartu (Estonia), Asian studies, University of Helsinki (Finland), Centre for Asian Studies, Vytautas Magnus University (Lithuania), Centre for East Asian Studies, University of Turku (Finland) and Centre for East and South-East Asian Studies, Lund University (Sweden) and Norwegian Network for Asian Studies. We aim to produce timely, topical and well-edited discussions of new research and developments about Asia. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Class Meets Land: The Embodied History of Land Financialization (University of California Press, 2024) by Dr. Maria Kaika & Dr. Luca Ruggiero reveals something seemingly counterintuitive: that nineteenth-century class struggles over land are deeply implicated in the transition to twenty-first-century financial capitalism. Challenging our understanding of land financialization as a recent phenomenon propelled by high finance, Dr. Kaika and Dr. Ruggiero foreground 150 years of class struggle over land as a catalyst for assembling the global financial constellation. Narrating the close-knit histories of industrial land, industrial elites, and the working class, the authors offer a novel understanding of land financialization as a “lived” process: the outcome of a relentless, socially embodied historical unfolding, in which shifts in land’s material, economic, and symbolic roles impact both local everyday lives and global capital flows. This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In the latest episode of Madison’s Notes, I spoke with Janie Nitze, co-author of Over Ruled: The Human Toll of Too Much Law (Harper, 2004), a book written alongside Supreme Court Justice Neil Gorsuch. Janie, a Harvard-educated attorney and former clerk for Justices Sonia Sotomayor and Neil Gorsuch, discussed the growing complexity of laws in America and their impact on everyday citizens. The book shares stories of ordinary Americans—fishermen in Florida, families in Montana, monks in Louisiana, and more—who find themselves caught in legal mazes created by an overwhelming and often opaque system of regulations. Janie explained that while laws are necessary to maintain order and freedom, the sheer volume and complexity of modern regulations can undermine those principles. She highlighted how excessive laws, many of which are created by unelected agency officials, disproportionately affect those without wealth or power. Through these stories, Over Ruled shows how overregulation can erode trust in the legal system and create unintended consequences for individuals navigating their lives. Janie’s perspective, shaped by her work at the Supreme Court, the Department of Justice, and the Privacy and Civil Liberties Oversight Board, provided a clear look at the challenges of balancing regulation and individual liberty. Over Ruled is a timely exploration of these issues, and this episode offers a deeper understanding of the human cost of too much law. Tune in to hear Janie’s insights and learn more about the stories behind the book. Madison’s Notes is the podcast of Princeton University’s James Madison Program in American Ideals and Institutions. Contributions to and/or sponsorship of any speaker does not constitute departmental or institutional endorsement of the specific program, speakers or views presented. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Hollywood Unions (Rutgers UP, 2024) is a unique collection that tells the stories of the unions and guilds that have organized motion picture and television labor: IATSE, the DGA, SAG-AFTRA, and the WGA. The Hollywood unions represent a wide swath of the workers making media: from directors and stars to grips and makeup artists. People today know some of these organizations from their glitzy annual awards celebrations, but the unions’ actual importance is in bargaining with the Association of Motion Picture and Television Producers (AMPTP) on behalf of 331,000 workers in the motion picture and television industry. The Hollywood unions are not neutral institutions but rather have long histories of jurisdictional battles, competitions with rival unions, and industry-altering strikes. They have supported the industry’s workers through the Great Depression, World War II, the McCarthy era, the collapse of the studio system, the rise of television, runaway production, fights for gender parity, the digital revolution, and a global pandemic. The history of these unions has contributed to making media work sustainable in the long term and helped shape the conditions and production cultures of Hollywood. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How Americans think about work changed profoundly over the course of the twentieth century. Thrift and persistence came to seem old-fashioned. Successful workers were increasingly expected to show initiative and enthusiasm for change—not just to do their jobs reliably but to create new opportunities for themselves and for others. Our culture of work today is more demanding than ever, even though workers haven't seen commensurate rewards. Make Your Own Job: How the Entrepreneurial Work Ethic Exhausted America (Harvard University Press, 2025) by Dr. Erik Baker explains how this entrepreneurial work ethic took hold, from its origins in late nineteenth-century success literature to the gig economy of today, sweeping in strange bedfellows: Marcus Garvey and Henry Ford, Avon ladies and New Age hippies. Business schools and consultants exhorted managers to cultivate the entrepreneurial spirit in their subordinates, while an industry of self-help authors synthesized new ideas from psychology into a vision of work as “self-realization.” Policy experts embraced the new ethic as a remedy for urban and Third World poverty. Every social group and political tendency, it seems, has had its own exemplary entrepreneurs. Dr. Baker argues that the entrepreneurial work ethic has given meaning to work in a world where employment is ever more precarious––and in doing so, has helped legitimize a society of mounting economic insecurity and inequality. From the advent of corporate capitalism in the Gilded Age to the economic stagnation of recent decades, Americans have become accustomed to the reality that today’s job may be gone tomorrow. Where work is hard to find and older nostrums about diligent effort fall flat, the advice to “make your own job” keeps hope alive. This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Our book is: Big Box USA: The Environmental Impact of America’s Biggest Retail Stores (UP of Colorado, 2024) which presents a new look at how the big box retail store has dramatically reshaped the US economy and its ecosystems in the last half century. From the rural South to the frigid North, from inside stores to ecologies far beyond, this book examines the relationships that make up one of the most visible features of late twentieth-century and early twenty-first-century American life. The rise of big box retail since the 1960s has transformed environments on both local and global scales. Almost everyone has explored the aisles of big box stores. The allure of “everyday low prices” and brightly colored products of every kind connect shoppers with a global marketplace. Contributors join a growing conversation between business and environmental history, addressing the ways American retail institutions have affected physical and cultural ecologies around the world. Essays on Walmart, Target, Cabela’s, REI, and Bass Pro Shops assess the “bigness” of these superstores from “smokestacks to coat racks” and contend that their ecological impacts are not limited to the footprints of parking lots and manufacturing but also play a didactic role in educating consumers about their relationships with the environment. A model for historians seeking to bring business and environmental histories together in their analyses of merchant capital’s role in the landscapes of everyday life and how it has remade human relationships with nature, Big Box USA is a must-read for students and scholars of the environment, business, sustainability, retail professionals, and a general audience. Our guest is: Dr. Rachel Gross, who is assistant professor of history at the University of Colorado Denver, where she teaches US environmental, business, and public history. She works with university and community partners to bring history into the public realm. She is the author of Shopping All the Way to the Woods: How the Outdoor Industry Sold Nature to America, and the co-editor of Big Box USA: The Environmental Impact of America’s Biggest Retail Stores. Our host is: Dr. Christina Gessler, who is the creator, producer and show host of the Academic Life podcast. She uses her PhD in history to explore what stories we tell, and what happens to those we never tell. Listeners may enjoy this playlist: Disabled Ecologies The Killer Whale Journals Stylish Academic Writing A Conversation with the editor of University of Wyoming Press The Peer Review At Every Depth Welcome to Academic Life, the podcast for your academic journey—and beyond! You can support the show by downloading or sharing episodes. Join us again to learn from more experts inside and outside the academy, and around the world. Missed any of the 240+ Academic Life episodes? Find them here. And thank you for listening! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Clean water, paved roads, public transit, electricity and gas, sewers, waste processing, telecommunication, even the Internet – all this infrastructure is what makes cities work and powers our lives, often seamlessly and silently. Virtually everything we do and consume depends on infrastructure. Yet, most people have little to no idea how these systems work. How is water treated? How do cities manage rainwater? Why do traffic jams exist? How is electricity generated and distributed? What happens to trash after it is picked up? How does the Internet work? In The Infrastructure Book: How Cities Work and Power Our Lives (Prometheus Books, 2025), world-renowned urban engineering expert Sybil Derrible reveals the behind-the-scenes machinations of the foundational systems that make our societies function. Visiting sixteen cities around the world and their unique approaches to organizational challenges – from water distribution in Hong Kong to waste management in Tokyo, and from Chicago’s power grid to low Earth orbit satellites in space – this highly readable book uses fascinating case studies and historical detours to show how infrastructure works – and, sometimes, doesn’t. With large-scale infrastructure repairs looming and the need for existing infrastructure to be transformed, the book also shows how infrastructure can be more sustainable and resilient. After reading The Infrastructure Book, readers will never look at a city the same way. Sybil Derrible is a professor of urban engineering and director of the Complex and Sustainable Urban Networks Laboratory at the University of Illinois Chicago. He is a world-renowned scholar on infrastructure and a lead author on the United Nations Environmental Program’s Seventh Global Environment Outlook (GEO-7) report. He received the Walter L. Huber Research Prize from the American Society of Civil Engineers and a CAREER Award from the US National Science Foundation. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

At the close of the 1970s, government treasuries and central banks took a vow of perpetual self-restraint. To this day, fiscal authorities fret over soaring public debt burdens, while central bankers wring their hands at the slightest sign of rising wages. As the brief reprieve of coronavirus spending made clear, no departure from government austerity will be tolerated without a corresponding act of penance. Yet we misunderstand the scope of neoliberal public finance if we assume austerity to be its sole setting. Beyond the zero-sum game of direct claims on state budgets lies a realm of indirect government spending that escapes the naked eye. Capital gains are multiply subsidized by a tax system that reserves its greatest rewards for financial asset holders. And for all its airs of haughty asceticism, the Federal Reserve has become adept at facilitating the inflation of asset values while ruthlessly suppressing wages. Neoliberalism is as extravagant as it is austere, and this paradox needs to be grasped if we are to challenge its core modus operandi. In Counterrevolution: Extravagance and Austerity in Public Finance (Zone Books, 2024) Dr. Melinda Cooper examines the major schools of thought that have shaped neoliberal common sense around public finance. Focusing, in particular, on Virginia school public choice theory and supply-side economics, she shows how these currents produced distinct but ultimately complementary responses to the capitalist crisis of the 1970s. With its intellectual roots in the conservative Southern Democratic tradition, Virginia school public choice theory espoused an austere doctrine of budget balance. The supply-side movement, by contrast, advocated tax cuts without spending restraint and debt issuance without guilt, in an apparent repudiation of austerity. Yet, for all their differences, the two schools converged around the need to rein in the redistributive uses of public spending. Together, they drove a counterrevolution in public finance that deepened the divide between rich and poor and revived the fortunes of dynastic wealth. Far-reaching as the neoliberal counterrevolution has been, Dr. Cooper still identifies a counterfactual history of unrealized possibilities in the capitalist crisis of the 1970s. She concludes by inviting us to rethink the concept of revolution and raises the question: Is another politics of extravagance possible? This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

We are all stuck in a money cage. Money isn’t the most important thing, but it is a thing and you can’t get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky’s The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself (Harriman House, 2024) breaks down walls around financial knowledge. What a weathered investor knows is that stocks are not always good for the long run. They know that being stingy helps accrue wealth. They know the big thing when you buy property has nothing to do with the property. They know the big thing is less what happens to the markets in a day than if the entire system holds together. And they know what to look for if it’s time to pull out. That’s what this book will teach you: a lifetime of money learnings distilled to a thin volume, like a basic cooking recipe you can follow. Paul Podolsky writes about macro–politics and money. For many years, he was the strategist and equity partner at the largest hedge fund in the world. Previous to that, he worked as a reporter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Agriculture remains a key sector of the economies of most Southeast Asian countries. It is supposed to provide nutritious, affordable, accessible and safe food to the people of SE Asia, and livelihood to more than 400 million farmers across the region. How is agriculture affected by climate change, and how can farmers cope with it? What is the relationship between farming and renewable energy installations, which require large land areas to be developed and thus encroach on agriculture? How to best manage water resources needed for farming, but threatened by climate change, and by pollution that often comes from farming? To discuss the challenges posed by climate change, the role of adaptation, food safety issues, and the importance of effective institutions and policies in supporting and guiding agriculture in Southeast Asia, Tiho Ancev, Professor in Agricultural and Resource Economics at the School of Economics, USYD, joins the podcast. He is SSEAC’s Vietnam Country Convenor, a member of SSEAC’s executive, and member of the executive of Sydney Vietnam Academic Network (SVAN). His research interests are in the economics of climate change, the economics of agricultural policy, and the economics of water, energy, 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

When we think about "red tape" and the cost of regulation it's hard to overstate the impact of professional licensing. According to Professor Rebecca Haw Allensworth, it's bigger than unions and more expensive than sales taxes. Millions of American workers are required - by law - to obtain a license in order to work. This barrier of entry depends on requirements set by licensing boards staffed mainly by members of the profession they oversee. It limits the number of people who can serve and also confers on licensees a certain degree of prestige and trust. In The Licensing Racket: How We Decide Who Is Allowed to Work, and Why It Goes Wrong (Harvard UP, 2025), Allensworth goes deep into a complex web of conflicting priorities. Whether it's hair stylists or doctors, plumbers or lawyers, licensing board members are asked to simultaneously represent their personal practice, fellow professionals, and the public. They have to literally "wear three hats", which leads to well-intentioned, but deeply flawed and biased, decision making. Consumers depend on licensing boards to ensure that professionals maintain high quality and reliability standards by creating - and enforcing - licensing standards. In reality, their decisions can be maddeningly arbitrary, creating unnecessary barriers to hopeful practitioners while simultaneously failing to protect the public from bad actors who abuse the trust placed in them. Despite good intent, board members lack the resources and sometimes the will to investigate even serious disciplinary cases. The consequences include, but are not limited to, the failure of medical licensing boards to remove the abusive doctors who fueled the opioid crisis and a system that allows unethical predatory lawyers to continue to practice, often targeting clients who are unable to protect themselves. While in some areas licensing is deeply flawed, in others it is critical to a well-functioning society. Allensworth argues for abolition where appropriate and reform where it is most needed. See Professor Allensworth's faculty profile video Author recommended reading: - Demon Copperhead by Barbara Kingsolver - Drug Dealer, MD by Anna Lembke, MD Hosted by Meghan Cochran Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

For millennia, land has been a symbol of wealth and privilege. But the true power of land ownership is even greater than we might think. In Land Power: Who Has It, Who Doesn't, and How That Determines the Fate of Societies (Basic Books, 2025), political scientist Michael Albertus shows that who owns the land determines whether a society will be equal or unequal, whether it will develop or decline, and whether it will safeguard or sacrifice its environment. Modern history has been defined by land reallocation on a massive scale. From the 1500s on, European colonial powers and new nation-states shifted indigenous lands into the hands of settlers. The 1900s brought new waves of land appropriation, from Soviet and Maoist collectivization to initiatives turning large estates over to family farmers. The shuffle continues today as governments vie for power and prosperity by choosing who should get land. Drawing on a career’s worth of original research and on-the-ground fieldwork, Albertus shows that choices about who owns the land have locked in poverty, sexism, racism, and climate crisis—and that what we do with the land today can change our collective fate. Michael Albertus is professor of political science at the University of Chicago. The author of four previous books, his writing has appeared in the New York Times, Washington Post, Atlantic, Foreign Affairs, and elsewhere. He lives in Chicago, Illinois. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Misery beneath the Miracle in East Asia (Cornell University Press, 2024) challenges prevailing views of the East Asian economic miracle. Existing scholarship has overlooked the severity, persistence, and harmful consequences of the social-welfare crises affecting the region. Dr. Arvid J. Lukauskas and Dr. Yumiko Shimabukuro fill this gap and put a major asterisk on East Asia's economic record. Combining big-picture analysis, abundant data, a dynamic interdisciplinary framework, and powerful human stories, they shed light on the social ills that governments have failed to address adequately, including low wages, child abuse, elderly poverty, and substandard housing. One of the major forces behind the multidimensional welfare crises is the region's productivist welfare strategy, which prioritizes economic growth while abandoning a robust social safety net, leaving the most vulnerable segments of society largely unprotected. Misery beneath the Miracle in East Asia brings the region into debates over the dangers of seeking growth at all costs that are currently embroiling the United States and other advanced industrialized countries. This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Municipalities around the world have increasingly used inclusionary housing programs to address their housing shortages. Inclusionary Housing and Urban Inequality in London and New York City: Gentrification Through the Back Door (Routledge, 2024) problematizes those programs in London and New York City by offering an empirical, research-based perspective on the socio-spatial dimensions of inclusionary housing approaches in both cities. The aim of those programs is to produce affordable housing and foster greater socio-economic inclusion by mandating or incentivizing private developers to include affordable housing units within their market-rate residential developments. The starting point of this book is the so-called “poor door” practice in London and New York City, which results in mixed-income developments with separate entrances for “affordable housing” and wealthier market-rate residents. Focusing on this “poor door” practice allowed for a critical look at the housing program behind it. By exploring the relationship between inclusionary housing, new-build gentrification, and austerity urbanism, this book highlights the complexity of the planning process and the ambivalences and interdependencies of the actors involved. Thereby, it provides evidence that the provision of affordable housing or social mixing through this program has only limited success and, above all, that it promotes – in a sense through the “back door” – the very gentrification and displacement mechanisms it is supposed to counteract. This book will be of interest to researchers and students of housing studies, planning, and urban sociology, as well as planners and policymakers who are interested in the consequences of their own housing programs. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

As Wall Street swooned and boomed through the last decade, our livelihoods have—now more than ever—come to rely upon the good sense and risk appetites of a few standout investors. And amidst the BlackRocks, Vanguards, and Berkshire Hathaways stands arguably the most iconoclastic of them all: SoftBank’s Masayoshi Son. In Gambling Man: The Wild Ride of Japan’s Masayoshi Son (Atria, 2024), the first Western biography of Son, the self-professed unicorn hunter, we go behind the scenes of the world’s most monied halls of power in New York, Tokyo, Silicon Valley, Saudi Arabia, and beyond to see how Son’s firm SoftBank has defied conventional wisdom and imposing odds to push global tech and commerce into the future. From the dizzying highs of Uber, DoorDash, and Slack to the epic lows of WeWork and tech-infused dogwalking app Wag Son and SoftBank have been at the center of cutting-edge capitalism’s absolute peaks and valleys. In the process, Son, son of a pachinko kingpin who grew up in a slum in Japan, has been a hero, a villain, and even a meme-ified hero to the internet tech- and finance-bro set all at once. Based on in-depth research and eye-opening interviews, Gambling Man is an unforgettable character study and alarming true story of twenty-first-century commerce that will stick with you long after you turn the final page. Lionel Barber is the former editor of the Financial Times. As editor, he interviewed many of the world’s leaders in business and politics, including US Presidents Barack Obama and Donald Trump, Russian President Vladimir Putin, Chancellor Angela Merkel of Germany, and Indian Prime Minister Narendra Modi. Barber has co-written several books and has lectured widely on foreign policy, transatlantic relations, and economics. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In this engaging interview, young scholar Dr, Joel Z. Garrod explains his book's main argument, with a personal touch. In Royal Histories: The Transformation of the Royal Bank of Canada, 1864-2022 (U Toronto Press, 2025), Garrod presents a historical analysis of the Royal Bank of Canada, illustrating how Canadian capitalism and the Canadian banking industry have transformed as they have consolidated nationally and expanded abroad. Emphasizing how national institutions and rules are increasingly becoming capabilities for transnational forms of capital accumulation, the book draws on extensive primary and secondary sources to document the transformation of the assemblage of territory, authority, and rights that have supported the bank’s activities over time. Linking the bank’s history to the policy regimes of the welfare state and neoliberalism, Garrod contends that our present period of globalization severely limits the extent to which nation-states can absorb capitalist crises or be a site of successful social reform. Connecting the Canadian experience to the wider transformation of global capitalism, Royal Histories illuminates the effects of globalization and the changing landscape of banking and finance. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The global financial crisis of the late 2000s was marked by the failure of regulators to rein in risk-taking by banks. And yet regulatory issues varied from country to country, with some national financial regulatory systems proving more effective than others. In Visions of Financial Order: National Institutions and the Development of Banking Regulation (Princeton University Press, 2024), Dr. Kim Pernell traces the emergence of important national differences in financial regulation in the decades leading up to the crisis. To do so, she examines the cases of the United States, Canada, and Spain—three countries that subscribed to the same transnational regulatory framework (the Basel Capital Accord) but developed different regulatory policies in areas that would directly affect bank performance during the financial crisis. In a broad historical analysis that extends from the rise of the first modern chartered banks in the 1780s through the major financial crises of the twentieth century and the Basel Capital Accord of 1988, Dr. Pernell shows how the different (and sometimes competing) principles of order embedded in each country’s regulatory and political institutions gave rise to distinctive visions of order and prosperity, which shaped subsequent financial regulatory design. Dr. Pernell argues that the different worldviews of national banking regulators reflected cultural beliefs about the ideal way to organize economic life to promote order, stability, and prosperity. Visions of Financial Order offers an innovative perspective on the persistent differences between regulatory institutions and the ways they shaped the unfolding of the 2008 global financial crisis. This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

When we talk about debt and its impact on our economy, we almost always mean “government debt.” However, this is only a small part of the picture: individuals, private firms, and households owe trillions, and these private debts are vital to understanding the economy. In The Paradox of Debt: A New Path to Prosperity Without Crisis (U Pennsylvania Press, 2023), Richard Vague examines the assets, liabilities, and incomes of the entire country, private and public sector, to reveal its net worth. His holistic analysis shows that the real factor that drives both financial crises and spiraling inequality—but also, paradoxically, economic growth—is ever rising private debt. The paradox is that while debt is essential and our economy relies on it, it also brings instability unless it is periodically deleveraged—and that is very hard to do. It can, however, be carefully managed, and Vague ends the book by showing how to do so in policy areas ranging from trade and housing to financial policy and student debt. Underpinned by pioneering data analysis and the author’s lifetime of experience in the financial world, this book is essential for anyone who wants to understand the deep, underlying dynamics of the American economy. Following a career that has spanned fields as varied as banking, energy, credit, and the arts, Richard Vague has recently served as Secretary of Banking and Securities for the Commonwealth of Pennsylvania. He is the author of numerous books, including An Illustrated Business History of the United States, also available from the University of Pennsylvania Press. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

For generations most of the canonical works that detail the lives of poor people have been created by rich or middle-class writers like Charles Dickens, John Steinbeck, or James Agee. This has resulted in overwhelming depictions of poor people as living abject, violent lives in filthy and degrading conditions. In Poor Things: How Those with Money Depict Those Without It (Duke UP, 2024), Lennard J. Davis labels this genre ‘poornography”: distorted narratives of poverty written by and for the middle and upper classes. Davis shows how poornography creates harmful and dangerous stereotypes that build barriers to social justice and change. To remedy this, Davis argues, poor people should write realistic depictions of themselves, but because of representational inequality they cannot. Given the obstacles to the poor accessing the means of publication, Davis suggests that the work should, at least for now, be done by “transclass” writers who were once poor and who can accurately represent poverty without relying on stereotypes and clichés. Only then can the lived experience of poverty be more fully realized. The Endo/Exo Writers Project. Nathan Smith is a PhD candidate in Music Theory at Yale University [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

Radical right parties are no longer political challengers on the fringes of party systems; they have become part of the political mainstream across the Western world. How the Radical Right Has Changed Capitalism and Welfare in Europe and the USA (Oxford UP, 2024) shows how they have used their political power to reform economic and social policies in Continental Europe, Northern Europe, Eastern Europe, and the USA. In doing so, it argues that the radical right's core ideology of nativism and authoritarianism informs their socio-economic policy preferences. However, diverse welfare state contexts mediate their socio-economic policy impacts along regime-specific lines, leading to variations of trade protectionism, economic nationalism, traditional familialism, labour market dualism, and welfare chauvinism. The radical right has used the diverse policy instruments available within their political-economic arrangements to protect threatened labour market insiders and male breadwinners from decline, while creating a racialized and gendered precariat at the same time. This socio-economic agenda of selective status protection restores horizontal inequalities in terms of gender and ethnicity, without addressing vertical inequalities between the rich and the poor. Combining insights from comparative politics, party politics, comparative political economy, and welfare state research, the book provides novel insights into how the radical right manufactures consent for authoritarian rule by taming the socially corrosive effects of globalised capitalism for key electoral groups, while aiming to exclude the rest from democratic participation. Philip Rathgeb is an associate professor in Social Policy in the School of Social and Political Science at the University of Edinburgh. Previously, he was a Postdoctoral Researcher in the Department of Politics and Public Administration at the University of Konstanz. Philip holds a PhD in Political and Social Sciences from the European University Institute (EUI) and held visiting positions at Harvard University, Lund University, University of Southern Denmark, and the EUI. His research interests are in comparative political economy and comparative politics, with a particular focus on welfare states, industrial relations, and party politics. His first book Strong Governments, Precarious Workers was published with Cornell University Press in 2018. Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Economists in the Cold War: How a Handful of Economists Fought the Battle of Ideas (Oxford UP, 2023) is an account of the economic drivers and outcomes of the Cold War, told through the stories of seven international economists, who were all closely involved in theory and policy in the period 1945-73. For them, the Cold War was a battle of economic ideas, a fight between central planning and market allocation, exploring economic thinking derived from the battle between Marxist and Capitalist ideologies, a fundamental difference but with many intricacies. The book recounts how economic theory advanced, how new economic tools were developed, and how policies were tested. Each chapter is based on the involvement of one of the selected economists. It was a challenging but dangerous time in economics: a time of economic recovery post-war, with industrial rebuilding, economic growth, and rising incomes. But it was also a time of ideological warfare, nuclear rivalry, military expansion, and personal conflict. The narrative is approximately chronological, ranging from the Potsdam Conference in Germany to the Pinochet Coup in Chile. The selected economists include an American, a Pole, a Hungarian, a German, a British, a Japanese, and an Argentinian, all very different economists, but with interconnections among them. Each chapter also features a dissenting economist who held a contrasting view, and recounts the subsequent economic arguments that played out. Alan Bollard is a Professor of Economics at Victoria University of Wellington, New Zealand. He formerly managed APEC, the largest regional economic integration organization in the world, and was previously the New Zealand Reserve Bank Governor, Secretary of the New Zealand Treasury, and Chairman of the New Zealand Commerce Commission. Professor Bollard is the author of Crisis: One Central Bank Governor and the Global Financial Crisis (Auckland University Press, 2013) and A Few Hares to Chase: The Life and Economics of Bill Philips (Oxford University Press, 2016). Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

International Development Law: Rule of Law, Human Rights & Global Finance (Springer, 2020) describes how international development works, its shortcomings, its theoretical and practical foundations, along with prescriptions for the future. It provides the reader with new perspectives on the origins of global poverty, identifies legal impediments to sustainable economic growth, and provides a better understanding of the challenges faced by the international community in resolving global poverty issues. The text is structured into two basic parts: the first part deals with the theoretical and philosophic foundations of the subject, and the second part sets forth issues relating to the international financial architecture, namely, international borrowing practices, privatization, and emerging economies. In particular, the book provides new, innovative analysis on corruption as an impediment to sustainable development. The three interlocking facets of corruption are examined: transnational organized crime, Islamic-based international terrorism, and corruption within emerging economies and the international banking system. Thus fresh new analysis adds depth and clarity to a field that heretofore has been scattered and superficial. Finally, the “right to development” within the international human rights discourse is critically reviewed, particularly in light of new jurisprudence emerging from the African context.This book offers a fresh, new and balanced legal perspective on the development process. The text has been rigorously researched and has many practical facets based on the author’s professional experience within the international development field. It is an invaluable research and teaching tool since it takes a multidisciplinary approach to putting complex issues, legal trends and political questions into a clear, new perspective that is highly analytical as well as accessible to the reader. The author's elegant legal prose is both powerful and persuasive. Rumu Sarkar is Adjunct Law Professor at Case Western Reserve University School of Law. Caleb Zakarin is editor at the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Who and what are India’s land mafia? How do they operate, and why have they become so crucial to India’s land market? In this episode, we are joined by Chiara Arnavas for a discussion on the emergence over the past decades of a dynamic Indian land mafia that is centrally involved in moving land around, freeing it up for new uses, and passing it onto other actors for mega-profits. We analyze how the land mafia works, and what the implications are for social inequalities along the lines of class, caste, gender, and religion. Chiara Arnavas is a Doctoral Research Fellow at the University of Oslo Your host Kenneth Bo Nielsen is a social anthropologist and the leader of the Centre for South Asian Democracy at the University of Oslo. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Meltdown: Scandal, Sleaze and the Collapse of Credit Suisse (Pegasus Books, 2024) is a great business history book. It meticulously chronicles the story of a large and once revered Swiss Bank, Credit Suisse, from its foundation in 1856 until how a series of scandals, driven by a culture of greed and entitlement among its bankers, led to the bank´s ultimate collapses in March 2023. The narrative also explores the bank's international expansion, particularly its partnership with First Boston in the United States. Meltdown is not just a history of Credit Suisse but a broader investigation into the systemic issues of greed, lies, and ambition that plague the financial industry. It raises critical questions about the future of big banks in a world where transparency and accountability are increasingly demanded. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Politicians, economists, and the media have put forth no shortage of explanations for the mounting problem of wealth inequality – a loss of working class jobs, a rise in finance-driven speculative capitalism, and a surge of tax policy decisions that benefit the ultra-rich, among others. While these arguments focus on the macro problems that contribute to growing inequality, they overlook one innocuous but substantial contributor to the widening divide: the explosion of fees accompanying virtually every transaction that people make. As Devin Fergus, Arvarh E. Strickland Distinguished Professor of History, Black Studies, and Public Affairs at the University of Missouri, shows in Land of the Fee: Hidden Costs and the Decline of the American Middle Class (Oxford University Press, 2018), these perfectly legal fees are buried deep within the verbose agreements between vendors and consumers – agreements that few people fully read or comprehend. The end effect, Fergus argues, is a massive transfer of wealth from the many to the few: large banking corporations, airlines, corporate hotel chains, and other entities of vast wealth. Fergus traces the fee system from its origins in the deregulatory wave of the late 1970s to the present, placing the development within the larger context of escalating income inequality. He organizes the book around four of the basics of existence: housing, work, transportation, and schooling. In each category, industry lobbyists successfully influenced legislatures into transforming the law until surreptitious fees became the norm. The average consumer is now subject to a dizzying array of charges in areas like mortgage contracts, banking transactions, auto insurance rates, college payments, and payday loans. The fees that accompany these transactions are not subject to usury laws and have effectively redistributed wealth from the lower and middle classes to ultra-wealthy corporations and the individuals at their pinnacles. By exposing this predatory and nearly invisible system of fees, Land of the Fee will reshape our understanding of wealth inequality in America. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In the late nineteenth century, as much of the world adopted some variant of the gold standard, China remained the most populous country still using silver. Yet China had no unified national currency; there was not one monetary standard but many. Silver coins circulated alongside chunks of silver and every transaction became an "encounter of wits." China and the End of Global Silver, 1873–1937 (Cornell UP, 2020) focuses on how officials, policy makers, bankers, merchants, academics, and journalists in China and around the world answered a simple question: how should China change its monetary system? Far from a narrow, technical issue, Chinese monetary reform is a dramatic story full of political revolutions, economic depressions, chance, and contingency. As different governments in China attempted to create a unified monetary standard in the late nineteenth and early twentieth century, the United States, England, and Japan tried to shape the direction of Chinese monetary reform for their own benefit. Austin Dean argues convincingly that the Silver Era in world history ended owing to the interaction of imperial competition in East Asia and the state-building projects of different governments in China. When the Nationalist government of China went off the silver standard in 1935, it marked a key moment not just in Chinese history but in world history. Austin Dean is Assistant Professor of History at the University of Nevada, Las Vegas. His work has appeared in Modern China and the Journal of American-East Asian Relations. He is on twitter @thelicentiate. Ghassan Moazzin is an Assistant Professor at the Hong Kong Institute for the Humanities and Social Sciences and the Department of History at the University of Hong Kong. He works on the economic and business history of 19th and 20th century China, with a particular focus on the history of foreign banking, international finance and electricity in modern China. His first book, tentatively titled Foreign Banks and Global Finance in Modern China: Banking on the Chinese Frontier, 1870–1919, is forthcoming with Cambridge University Press. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

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

Many studies of China's relations with and influence on Southeast Asia tend to focus on how Beijing has used its power asymmetry to achieve regional influence. Yet, scholars and pundits often fail to appreciate the complexity of the contemporary Chinese state and society, and just how fragmented, decentralized, and internationalized China is today. In The Ripple Effect: China's Complex Presence in Southeast Asia (Oxford UP, 2024), Enze Han argues that a focus on the Chinese state alone is not sufficient for a comprehensive understanding of China's influence in Southeast Asia. Instead, we must look beyond the Chinese state, to non-state actors from China, such as private businesses and Chinese migrants. These actors affect people's perception of China in a variety of ways, and they often have wide-ranging as well as long-lasting effects on bilateral relations. Looking beyond the Chinese state's intentional influence reveals many situations that result in unanticipated changes in Southeast Asia. Han proposes that to understand this increasingly globalized China, we need more conceptual flexibility regarding which Chinese actors are important to China's relations, and how they wield this influence, whether intentional or not. The Ripple Effect makes the case that to understand China's relationship with Southeast Asia, it is necessary to move beyond a narrow fixation on the Chinese state by scrutinizing the ordinary manifestations of China's presence in the region and recognizing the multifaceted web of actors and their effects on the dynamics between the two regions. Enze Han is an associate professor of politics at the University of Hong Kong. He works on the international relations of East Asia, Southeast Asian politics and China-Southeast Asia relations. This is his third single-authored book from Oxford University Press. Enze is in conversation with Duncan McCargo, President's Chair in Global Affairs at Nanyang Technological University and one of the hosts on New Books in Southeast Asian Studies. Duncan's recent co-authored article on the relationship between Thai politics and attitudes to China, mentioned during the podcast, may 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

How the creation of money and monetary policy can be more democratic. The power to create money is foundational to the state. In the United States, that power has been largely delegated to private banks governed by an independent central bank. Putting monetary policy in the hands of a set of insulated, nonelected experts has fueled the popular rejection of expertise as well as a widespread dissatisfaction with democratically elected officials. In Our Money: Monetary Policy as If Democracy Matters (Princeton UP, 2024), Leah Downey makes a principled case against central bank independence (CBI) by both challenging the economic theory behind it and developing a democratic rationale for sustaining the power of the legislature to determine who can create money and on what terms. How states govern money creation has an impact on the capacity of the people and their elected officials to steer policy over time. In a healthy democracy, Downey argues, the balance of power over money creation matters. Downey applies and develops democratic theory through an exploration of monetary policy. In so doing, she develops a novel theory of independent agencies in the context of democratic government, arguing that states can employ expertise without being ruled by experts. Downey argues that it is through iterative governance, the legislature knowing and regularly showing its power over policy, that the people can retain their democratic power to guide policy in the modern state. As for contemporary macroeconomic arguments in defense of central bank independence, Downey suggests that the purported economic benefits do not outweigh the democratic costs. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics