New Books In 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

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

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

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 organization

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 th

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 an

As writers, musicians, online content creators, and other independent workers fight for better labor terms, romance authors offer a powerful example—and a cautionary tale—about self-organization and mutual aid in the digital economy.  In Love in the Time of Self-Publishing: How Romance Writers Changed the Rules of Writing and Success (Princeton University Press, 2024), Dr. Christine Larson traces the forty-year history of Romancelandia, a sprawling network of romance authors, readers, editors, and others, who formed a unique community based on openness and collective support. Empowered by solidarity, American romance writers—once disparaged literary outcasts—became digital publishing’s most innovative and successful authors. Meanwhile, a new surge of social media activism called attention to Romancelandia’s historic exclusion of romance authors of color and LGBTQ+ writers, forcing a long-overdue cultural reckoning. Drawing on the largest-known survey of any literary genre as well as interviews and archival re

As part of our informal series on artificial intelligence, Peoples & Things host, Lee Vinsel, talks with Matt Beane, Assistant Professor of Technology Management at the University of California, Santa Barbara, about his book The Skill Code: How to Save Human Ability in the Age of Intelligent Machines (HarperCollins, 2024).  Beane outlines the fascinating forms of research he did - both his own ethnographic work and reanalyzing the data of other ethnographers - to better understand how automating technologies are being adopted in organizational settings and how such adoption may threaten traditional mentor-mentee relationships through which junior workers learn crucial skills. Beane also discusses ways in which the worst negative skill-learning outcomes may be avoided and his own work trying to create new training systems to improve our current situation. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/econo

The recent retreat from globalization has been triggered by a perception that increased competition from global trade is not fair and leads to increased inequality within countries. Is this phenomenon a small hiccup in the overall wave of globalization, or are we at the beginning of a new era of deglobalization? Former Chief Economist of the World Bank Group Pinelopi Koujianou Goldberg tells us that the answer depends on the policy choices we make, and in The Unequal Effects of Globalization (MIT Press, 2023), she calls for exploring alternative policy approaches including place-based policies, while sustaining international cooperation. At this critical moment of shifting attitudes toward globalization, The Unequal Effects of Globalization enters the debate while also taking a step back. Goldberg investigates globalization's many dimensions, disruptions, and complex interactions, from the late twentieth century's wave of trade liberalizations to the rise of China, the decline of manufacturing in advanced eco

In the present day, Big Tech is extracting resources from us, transferring and centralizing resources from people to companies. These companies are grabbing our most basic natural resources--our data--exploiting our labor and connections, and repackaging our information to control our views, track our movements, record our conversations, and discriminate against us. These companies tell us this is for our own good, to build innovation and develop new technology. But in fact, every time we unthinkingly click "Accept" on a set of Terms and Conditions, we allow our most personal information to be kept indefinitely, repackaged by companies to control and exploit us for their own profit.  In Data Grab: The New Colonialism of Big Tech and How to Fight Back (The University of Chicago Press, 2024), Ulises Mejias and Nick Couldry explain why postindustrial capitalism cannot be understood without colonialism, and why race is a critical factor in who benefits from data colonialism, just as it was for historic colonialis

Challenging mainstream narratives in political economy, the new book Feminist Political Economy: A Global Perspective (Agenda Publishing, 2023) serves as an introduction to a new era of critical research. It is written by Prof. Sara Cantillon, Dr. Sara Stevano and Prof. Odile Mackett, who have carried out incredible work to deconstruct gender-blind approaches in contemporary economic research. The book brings together the most important topics in political economy and demonstrates why feminist approaches are crucial to understanding social relations. It begins with an overview of feminist political economy and then offers a nuanced perspective on care, social reproduction, inequalities in households and labour markets, and the feminisation of poverty. As mentioned in the podcast, the book not only takes a feminist approach to theory, but is also an example of the practice of feminist research, focusing for example on female scholars. The host, Sarah Vogelsanger, is a feminist researcher, who is interested in

In theory, bankruptcy in America exists to cancel or restructure debts for people and companies that have way too many--a safety valve designed to provide a mechanism for restarting lives and businesses when things go wrong financially. In this brilliant and paradigm-shifting book, legal scholar Melissa B. Jacoby shows how bankruptcy has also become an escape hatch for powerful individuals, corporations, and governments, contributing in unseen and poorly understood ways to race, gender, and class inequality in America. When cities go bankrupt, for example, police unions enjoy added leverage while police brutality victims are denied a seat at the negotiating table; the system is more forgiving of civil rights abuses than of the parking tickets disproportionately distributed in African American neighborhoods. Across a broad range of crucial issues, Unjust Debts: How Our Bankruptcy System Makes America More Unequal (New Press, 2024) reveals the hidden mechanisms by which bankruptcy impacts everything from sexual

Southeast Asia is of vital importance to Australia. As a nation, Australia’s prosperity, security and economic future are intimately connected to the region. According to the Australian Department of Foreign Affairs, Southeast Asia is expected to be the fourth largest economy in the world by 2040, with its middle class already numbering close to 200 million people. Recognising the crucial significance of Southeast Asia to Australia, the Federal Government released Invested: Australia’s Southeast Asia Economic Strategy to 2040 in September 2023, which provides a roadmap to deepening our economic engagement and increasing two-way trade and investment with the region. Natali’s guest on SSEAC Stories is Nicholas Moore who Lead the development of this national strategy, and who was appointed as Australia’s Special Envoy for Southeast Asia in November 2022. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economic

The Green New Deal from Below: How Ordinary People Are Building a Just and Climate-Safe Economy (U Illinois Press, 2024) offers a visionary program for national renewal, the Green New Deal aims to protect the earth's climate while creating good jobs, reducing injustice, and eliminating poverty.  Its core principle is to use the necessity for climate protection as a basis for realizing full employment and social justice. Jeremy Brecher goes beyond the national headlines and introduces readers to the community, municipal, county, state, tribal, and industry efforts advancing the Green New Deal across the United States. Brecher illustrates how such programs from below do the valuable work of building constituencies and providing proofs of concept for new ideas and initiatives. Block by block, these activities have come together to form a Green New Deal built on a strong foundation of small-scale movements and grassroots energy. A call for hope and a better tomorrow, The Green New Deal from Below offers a bluepri

Peoples & Things host, Lee Vinsel, talks to Benjamin Shestakofsky about his book, Behind the Startup: How Venture Capital Shapes Work, Innovation, and Inequality (U California Press, 2024). Shestakofsky is Assistant Professor of Sociology at the University of Pennsylvania, where he is affiliated with AI at Wharton and the Center on Digital Culture and Society. His research centers on how digital technologies are affecting work and employment, organizations, and economic exchange. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Streaming Music, Streaming Capital (Duke University Press, 2024)  provides a much-needed study of the political economy of music streaming, drawing from Western Marxism, social reproduction theory, eco-socialist thought and more to approach the complex and highly contested relationship between music and capital. By attending to the perverse ways in which recorded music has been ultimately decommodified under the current regime of music production, circulation and consumption, Eric Drott explores issues that far exceed music - consumer surveillance, Silicon Valley monopolism, the crisis of care, capitalist extractivism and the climate emergency - while showing us how the streaming economy is thoroughly imbricated, and implicated, in these processes. Drott's rigorous and wide-ranging analysis thus offers novel ways of understanding music, culture, digitalisation and capitalism in present and future tenses . Eric Drott is Associate Professor of Music Theory at the University of Texas at Austin. Learn more about

What really separates emancipatory thinking from its opposite? The prevailing Left defines itself against neoliberalism, conservative traditionalism, and fascism as a matter of course. The philosophical differences, however, may be more apparent than real.  The Right-Wing Mirror of Critical Theory: Studies of Schmitt, Oakeshott, Hayek, Strauss, and Rand (Rowman & Littlefield, 2023) argues that dominant trends in critical and radical theory inadvertently reproduce the cardinal tenets of the twentieth century’s most influential right-wing philosophers. It finds the rejection of foundationalism, rationalism, economic planning, and vanguardism mirrored in the work of Schmitt, Oakeshott, Hayek, and Strauss. If it is to be more than merely an inverted image of the Right, critical theory must reevaluate its relationship to what Julius Nyerere once called “deliberate design” in politics. In the era of anthropogenic climate change, a substantial—not merely nominal—departure from right-wing talking points is all the mo

To meet the greenhouse gas emissions reductions needed to stave off the worst impacts of climate change, a transition away from fossil fuels must occur, as quickly as possible. But there are many unknowns when it comes to moving from theory to implementation for such a large-scale energy transition, to say nothing of whether this transition will be “just.”  In A Just Transition for All: Workers and Communities for a Carbon-Free Future (MIT Press, 2024), J. Mijin Cha—a seasoned climate policy researcher who also works with advocacy organizations and unions—offers a comprehensive analysis of how we can actualize a just transition in the U.S. context and enact transformational changes that meaningfully improve people’s lives. Cha provides a novel governance framework called the “Four+ Pillars,” formulated from original research to provide a way to move from theory to practice. The “Pillars” framework includes a novel analysis that guides readers in understanding how to formulate effective just transition policie

The China Business Conundrum: Ensure That "Win-Win" Doesn't Mean Western Companies Lose Twice (Wiley, 2024) describes former CEO of Silicon Valley Bank (SVB) Ken Wilcox's firsthand challenges he encountered in four years “on the ground” trying to establish a joint venture between SVB and the Chinese government to fund local innovation design―and the Chinese Communist Party (CCP) efforts to systematically sabotage the project and steal SVB's business model. This book provides actionable advice drawn from meticulous notes Wilcox took from interviews with people from all walks of Chinese life, including Party and non-Party members, the business elite, and domestic workers. Describing a China he found fascinating and maddeningly complex, this book explores topics including: Difficulties in transplanting SVB's model to China, from misunderstandings about titles and responsibilities to pitched battles over toilet design Ethics and practices widely adopted by Chinese businesses today and why China must be met with