New Books In Economics

In this episode, we discuss Arve Hansen’s new book Consumption and Vietnam’s New Middle Classes: Societal Transformations and Everyday Life (Springer, 2022). In this book, Hansen studies the dramatic changes in consumption patterns in Vietnam over the past decades, focusing on how everyday life changes in the context of rapid economic development and capitalist transformations. How does a consumer society emerge and take shape in Vietnam’s socialist market economy? What is consumer socialism? Why should we study the consumption patterns of Asia’s new middle classes, and are there similarities between the middle classes in Vietnam and India? To discuss these questions, we are joined by the author and Manisha Anantharaman Manisha Anantharaman, associate professor of Justice, Community and Leadership at Saint Mary's College of California in the Bay Area. She teaches and does research on the politics of sustainability, and has among many other things written extensively on the ‘environmentalism’ of India’s middle

Fear pervades dictatorial regimes. Citizens fear leaders, the regime's agents fear superiors, and leaders fear the masses. The ubiquity of fear in such regimes gives rise to the "dictator's dilemma," where autocrats do not know the level of opposition they face and cannot effectively neutralize domestic threats to their rule. The dilemma has led scholars to believe that autocracies are likely to be short-lived. Yet, some autocracies have found ways to mitigate the dictator's dilemma. As Martin K. Dimitrov shows in Dictatorship and Information: Authoritarian Regime Resilience in Communist Europe and China (Oxford UP, 2023), substantial variability exists in the survival of nondemocratic regimes, with single-party polities having the longest average duration. Offering a systematic theory of the institutional solutions to the dictator's dilemma, Dimitrov argues that single-party autocracies have fostered channels that allow for the confidential vertical transmission of information, while also solving the problem

The term "Silk Road" evokes images of trade and exotic luxurious goods and Orientalist images. Today, however, it also is associated with the projection of Chinese power abroad. And as that pairing suggests, the term "Silk Road" in fact has many meanings as Professor Tim Winter has been explaining in his book The Silk Road: Connecting Histories and Futures (Oxford University Press, 2022). Listen to him in conversation with Owen Bennett-Jones. Owen Bennett-Jones is a freelance journalist and writer. A former BBC correspondent and presenter he has been a resident foreign correspondent in Bucharest, Geneva, Islamabad, Hanoi and Beirut. He is recently wrote a history of the Bhutto dynasty which was published by Yale 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 this episode of High Theory, Eli Cook tells us about choice architecture. The term was invented by behavioral economists in 2008 who proposed it as a soft-power model of “libertarian paternalism” to influence consumer choice. Eli traces their concept through a twentieth-century history of structured choices, from personality tests and the five-star rating to the swipes and likes of platform capitalism. He shifts our attention from the rhetoric of consumer choice as freedom to the power of “choice architects” who determine the options for us. Eli takes the term “choice architecture” from Richard Thaler and Cass Sunstein’s book Nudge: Improving Decisions About Health, Wealth, and Happiness (Yale UP, 2008). He mentions the industrial psychologist Walter Dill Scott and the inventors of behavioral economics, Amos Tversky and Daniel Kahneman. Amusingly, there is a New Yorker article about Tversky and Kahneman written by Thaler and Sunstein, called “The Two Friends Who Changed How We Think About How We Think.” (N

The Perfect Fit: Creative Work in the Global Shoe Industry (The University of Chicago Press, 2022) shows us how globalization works through the many people and places involved in making women’s shoes. We know a lot about how clothing and shoes are made cheaply, but very little about the process when they are made beautifully. In The Perfect Fit, Claudio E. Benzecry looks at the craft that goes into designing shoes for women in the US market, revealing that this creative process takes place on a global scale. Based on unprecedented behind-the-scenes access, The Perfect Fit offers an ethnographic window into the day-to-day life of designers, fit models, and technicians as they put together samples and prototypes, showing how expert work is a complement to and a necessary condition for factory exploitation. Benzecry looks at the decisions and constraints behind how shoes are designed and developed, from initial inspiration to the mundane work of making sure a size seven stays constant. In doing so, he also foste

The Indian planning project was one of the postcolonial world's most ambitious experiments. Planning Democracy: Modern India's Quest for Development (Cambridge UP, 2022) explores how India fused Soviet-inspired economic management and Western-style liberal democracy at a time when they were widely considered fundamentally contradictory.  After nearly two centuries of colonial rule, planning was meant to be independent India's route to prosperity. In this engaging and innovative account, Nikhil Menon traces how planning built India's knowledge infrastructure and data capacities, while also shaping the nature of its democracy. He analyses the challenges inherent in harmonizing technocratic methods with democratic mandates and shows how planning was the language through which the government's aspirations for democratic state-building were expressed. Situating India within international debates about economic policy and Cold War ideology, Menon reveals how India walked a tightrope between capitalism and communism

Cities are central to prosperity: they are hubs of innovation and growth. However, the economic vitality of wealthy cities is marred by persistent and pervasive inequality—and deeply entrenched anti-urban policies and politics limit the options to address it. Structural racism, suburban subsidies, regional government fragmentation, the hostility of state legislatures, and federal policy all contribute to an unequal status quo that underfunds cities while preventing them from pursuing fairer outcomes.  Economist Richard McGahey explores how cities can foster equitable economic growth despite the obstacles in their way. Drawing on economic and historical analysis as well as his extensive experience in government and philanthropy, he examines the failures of public policy and conventional economic wisdom that have led to the neglect of American cities and highlights opportunities for reform. Unequal Cities: Overcoming Anti-Urban Bias to Reduce Inequality in the United States (Columbia UP, 2023) features detailed

What does “development” mean for Indigenous peoples? Indigenous Economics: Sustaining Peoples and Their Lands (U Arizona Press, 2022) lays out an alternative path showing that conscious attention to relationships among humans and the natural world creates flourishing social-ecological economies.  Economist Ronald L. Trosper draws on examples from North and South America, Aotearoa/New Zealand, and Australia to argue that Indigenous worldviews centering care and good relationships provide critical and sustainable economic models in a world under increasing pressure from biodiversity loss and climate change. He explains the structure of relational Indigenous economic theory, providing principles based on his own and others’ work with tribal nations and Indigenous communities. Trosper explains how sustainability is created at every level when relational Indigenous economic theory is applied—micro, meso, and macro. Good relationships support personal and community autonomy, replacing the individualism/collectivism

Does China show that capitalism works better without democracy? What can be done to secure the future of open societies in which there is wealth, tolerance and stability. Martin Wolf - associate editor of the Financial Times and its chief economist - has been thinking about these big questions for his book The Crisis of Democratic Capitalism (Penguin, 2023). Listen to him in conversation with Owen Bennett Jones. Owen Bennett-Jones is a freelance journalist and writer. A former BBC correspondent and presenter he has been a resident foreign correspondent in Bucharest, Geneva, Islamabad, Hanoi and Beirut. He is recently wrote a history of the Bhutto dynasty which was published by Yale 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

So much of what we know of clean water, clean air, and now a stable climate rests on how fossil fuels first disrupted them. Negative Ecologies: Fossil Fuels and the Discovery of the Environment (U California Press, 2022) is a bold reappraisal of the outsized role fossil fuels have played in making the environment visible, factual, and politically operable in North America. Following stories of hydrocarbon harm that lay the groundwork for environmental science and policy, this book brings into clear focus the dialectic between the negative ecologies of fossil fuels and the ongoing discovery of the environment. Exploring iconic sites of the oil economy, ranging from leaky Caribbean refineries to deepwater oil spills, from the petrochemical fallout of plastics manufacturing to the extractive frontiers of Canada, Negative Ecologies documents the upheavals, injuries, and disasters that have long accompanied fossil fuels and the manner in which our solutions have often been less about confronting the cause than man

The second half of the nineteenth century is correctly known to have culminated in the emergence of the gold standard as the first truly international monetary regime. The processes leading up to this remarkable feat are, however, far less documented or understood. Economic historians have only recently started digging into the causes behind the 'fall of silver' that preceded the scramble for gold. It is nowadays clear that its effects were felt worldwide. Not in the least, silver depreciation severely affected East-West trade. It was, among other factors, behind the bankruptcy of several powerful institutions as the Oriental Bank Corporation. Yet at the same time, it cemented the position of other banks, some of which exist until this very day (HSBC, Standard Chartered). What did these banks know that others did not? In Accounting for the Fall of Silver: Hedging Currency Risk in Long-Distance Trade with Asia, 1870-1913 (Oxford UP, 2020), Michael Schiltz explains that the 1870s and 1880s witnessed furious ex

"Why do we think about some practices as work, and not others? Why do we classify certain capacities as economically valuable skills, and others as innate characteristics? What, moreover, is the role of law in shaping our answers to these questions?" These are just some of the queries explored by Dr. Zoe Adams's analysis of the legal construction, and regulation, of work, in her book The Legal Concept of Work (Oxford University Press, 2022). Spanning from the 14th century to the present day, the book explores how the role of law and legal concepts comes to consider some forms of human labour as work, and some forms of human labour as non-work. It examines why perceptions of these activities can change over time, and how legal constitution impacts the way in which work comes to be regulated, organised, and valued. This interview was conducted by Dr. Miranda Melcher whose doctoral work focused on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with

In this episode, I interview Professor Geoffrey Jones about his new book  Deeply Responsible Business: A Global History of Values-Driven Leadership (Harvard University Press, 2023). For an extraordinary introduction to the content of the book, please visit deeplyreponsible.com . Professor Christopher Marquis, author of Better Business: How the B Corp Movement Is Remaking Capitalism (Yale University Press, 2020) also joined our conversation. Deeply Responsible Business is a global history of deeply responsible business leaders. It offers an invaluable historical perspective, going back to the Quaker capitalism of George Cadbury and the worker solidarity of Edward Filene. Through a series of in-depth profiles of business leaders and their companies, it carries us from India to Japan and from the turmoil of the nineteenth century to the latest developments in impact investing and the B-corps. Geoffrey Jones profiles business leaders from around the world who combined profits with social purpose to confront ineq

For many, the COVID-19 pandemic has awakened them to the dangers attendant to a lot of the working conditions in society today—for others, it has made what they already knew to be the dangers of their workplaces and of a tattered social safety net all the more perilous. In Canadian Labour Policy and Politics (UBC Press, 2022) co-editors John Peters and Don Wells bring together a number of field-leading scholars in Canadian Labour Studies to situate the social abandonment of workers in both its longue durée and in its most acute contemporary manifestations. Most importantly, though, they also highlight the growing capacities of community unionism, as a strategy for building worker power across the multiple intersections of race, gender, nationality, (dis)ability, in order to challenge corporate power and build democratic alternatives. I sit down with co-editor Don Wells to discuss this rich and deeply accessible text. Phil Henderson is a SSHRC Postdoctoral Research Fellow at Carleton University’s Institute of

Andrew Popp, a professor of history at Copenhagen Business School, and Jonathan Coopersmith, a professor (retired) of history at Texas A&M, talk about a recent special issue they edited in the journal History Compass with Peoples & Things host, Lee Vinsel. The special issue brought together a number of business historians to assess the historical arguments of Thomas Piketty’s 2019 book, Capital and Ideology, which argues that societies have developed a number of ideologies to justify inequality. While largely sympathetic to Piketty’s aims, the historians involved prod and criticize aspects of his argument and evidence. Popp, Coopersmith, and Vinsel also discuss the need for more historians, particularly business historians, to focus on the history of inequality. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Before there were Instagram likes, Twitter hashtags, or TikTok trends, there were bloggers who seemed to have the passion and authenticity that traditional media lacked. The Influencer Industry: The Quest for Authenticity on Social Media (Princeton UP, 2023) tells the story of how early digital creators scrambling for work amid the Great Recession gave rise to the multibillion-dollar industry that has fundamentally reshaped culture, the flow of information, and the way we relate to ourselves and each other. Drawing on dozens of in-depth interviews with leading social media influencers, brand executives, marketers, talent managers, trend forecasters, and others, Emily Hund shows how early industry participants focused on creating and monetizing digital personal brands as a means of exerting control over their professional destinies in a time of acute economic uncertainty. Over time, their activities coalesced into an industry whose impact has reached far beyond the dreams of its progenitors--and beyond their c

Elizabeth Tandy Shermer, an associate professor of history at Loyola University Chicago, talks about her book, Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in Debt, with Peoples & Things host, Lee Vinsel. Indentured Students examines the long history of student loans in the United States, including important turning points in the 1960s. Shermer argues that elected officials have preferred student loans as an answer to an important social problem, the perceived-need for college education, over more structural solutions. Shermer and Vinsel also talk about what this legacy of debt means today as well as what recent public discussions about student debt might portend for 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

What is the future of news? In the twentieth century Western-educated journalists championed impartial, unbiased news – which always seemed rather odd as everyone agreed it wasn’t possible for journalists to shed all their biases. That fundamental contradiction has been replaced by something even more problematic – fake news and worse than that, fake news which people believe and even the idea that everyone can publish their own news. So where are we headed in the twenty first century. Roger Mosey was a senior BBC editor and is now master of Selwyn College Cambridge Owen Bennett-Jones is a freelance journalist and writer. A former BBC correspondent and presenter he has been a resident foreign correspondent in Bucharest, Geneva, Islamabad, Hanoi and Beirut. He is recently wrote a history of the Bhutto dynasty which was published by Yale University Press. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/econom

Stephanie Hoopes, National Director of United for ALICE, a research center founded at United Way of Northern New Jersey, talks about the ALICE program with Peoples & Thing host, Lee Vinsel. ALICE stands for Asset-Limited, Income-Constrained Employed, and describes working households who can barely afford to make ends meet. The ALICE program repeatedly finds that about 40% of American households fits its criteria. Hoopes and Vinsel also the social structures and economic factors that contribute to ALICE, and how different populations are affected unequally by these factors. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Pakistan would desperately like to produce enough electricity, but it usually doesn't. Despite prioritization by successive governments, targeted reforms shaped by international development actors, and featuring prominently in Chinese Belt and Road investments, the Pakistani power sector continues to stifle economic and social life across the country. Why? In Access to Power: Electricity and the Infrastructural State in Pakistan (Oxford UP, 2022), Ijlal Naqvi explores state capacity in Pakistan by following the material infrastructure of electricity across the provinces and down into cities and homes. Naqvi argues that the national-level challenges of crippling budgetary constraints and power shortages directly result from conscious strategic decisions that are integral to Pakistan's infrastructural state. As he shows, electricity governance in Pakistan reinforces unequal relations of power between provinces and the federal center, contributes to the marginalization of subordinate groups in the city, and ceme