New Books In Economics

A new economic history which uncovers the forgotten left-wing, anti-imperial, pacifist origins of economic cosmopolitanism and free trade from the mid-nineteenth to the mid-twentieth century.  The post-1945 international free-trade regime was established to foster a more integrated, prosperous, and peaceful world. As US Secretary of State Cordell Hull (1933-1944), "Father of the United Nations" and one of the regime's principal architects, explained in his memoirs, "unhampered trade dovetailed with peace; high tariffs, trade barriers, and unfair economic competition, with war." Remarkably, this same economic order is now under assault from the country most involved in its creation: the United States. A global economic nationalist resurgence - heralded by Donald Trump's "America First" protectionism and resultant trade wars with the USA's closest allies and trading partners - now looks to transform over seventy years of regional and global market integration into an illiberal economic order resembling that of

Karl Widerquist's Universal Basic Income (MIT Press, 2024) is an accessible introduction to the simple (yet radical) premise that a small cash income, sufficient for basic needs, ought to be provided regularly and unconditionally to every citizen. The growing movement for universal basic income (UBI) has been gaining attention from politics and the media with the audacious idea of a regular, unconditional cash grant for everyone as a right of citizenship.  This volume in the Essential Knowledge series presents the first short, solid UBI introduction that is neither academic nor polemic. It takes a position in favor of UBI, but its primary goal remains the provision of essential knowledge by answering the fundamental questions about it: What is UBI? How does it work? What are the arguments for and against it? What is the evidence? Widerquist discusses how UBI functions, showing how it differs from other redistributional approaches. He summarizes the common arguments for and against UBI and presents the reasons

Parents everywhere want their children to be happy and do well. Yet how parents seek to achieve this ambition varies enormously. For instance, American and Chinese parents are increasingly authoritative and authoritarian, whereas Scandinavian parents tend to be more permissive. Why? Love, Money, and Parenting investigates how economic forces and growing inequality shape how parents raise their children. From medieval times to the present, and from the United States, the United Kingdom, Germany, Italy, Spain, and Sweden to China and Japan, Matthias Doepke and Fabrizio Zilibotti look at how economic incentives and constraints—such as money, knowledge, and time—influence parenting practices and what is considered good parenting in different countries. Through personal anecdotes and original research, Doepke and Zilibotti show that in countries with increasing economic inequality, such as the United States, parents push harder to ensure their children have a path to security and success. Economics has transformed

Charles Dallara, managing director of the Institute of International Finance from 1993–2013, talks about his crisis memoir: Euroshock: How the Largest Debt Restructuring in History Helped Save Greece and Preserve the Eurozone (Rodin Books, 2024). Dallara, who co-led a small team who negotiated a €100-billion write-off of Greek debt in 2011-12, discusses how it felt to be an American "interloper", crippling European indecision, and performative politicians. Produced by Emin Fikić at davidstudio. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit twentyfourtwo.substack.com Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Globally, 1.4 billion people are considered to be “financially excluded,” meaning they cannot safely access appropriate and affordable financial services. Muslim communities have particularly high levels of financial exclusion – for example, Muslim-majority countries have 24% lower participation rates in active borrowing from banks, and 29% lower rates of bank account ownership compared to other countries. In Indonesia, the world’s largest Muslim majority country, the vast majority of financial enterprises are classified as small to medium enterprises and lack access to capital in the same way as larger corporations. President Joko Widodo has actively sought to promote Islamic finance-based development initiatives, through both grassroots support of Islamic microfinance as well as top-down policy support. Dr Tanvir Uddin is founder & CEO of Wholesum, an impact-focused investment platform that enables investors to support socio-economic development through a global portfolio of small and medium-sized enterpris

Nancy Folbre’s The Rise and Decline of Patriarchal Systems: An Intersectional Political Economy (Verso, 2021) asks the questions of why and under what conditions overlapping systems of exploitation persist and decline. Folbre adds this book to a long repertoire of studying the economics of care, social reproduction, household-state relations, and women’s coalition building. In making sense of the gender-skewed outcomes of capitalist development, the undervaluation of care, and the dynamics of social reproduction, Folbre draws from various economic and sociological perspectives to introduce an analytical framework attuned to the multiple layers of patriarchal systems of control. The book’s theoretical toolbox (Part 1) is particularly valuable for those interested in key concepts and theories in feminist political economy. The Reconstructed Narratives (Part 2) engages readers with polemics on gendered dynamics of bargaining power, the disciplining of social reproduction labor, the intertwined nature of affect a

Most people rely only on their life experience to make investment decisions. This causes them to overlook cyclical forces that repeatedly reshape economies and markets. Investing in U.S. Financial History: Understanding the Past to Forecast the Future (Greenleaf, 2024) fills this void by recounting the comprehensive financial history of the United States of America. It begins with Alexander Hamilton's financial programs in 1790 and ends with the Federal Reserve's battle with inflation in 2023. Authored by Mark Higgins, an experienced investment advisor and financial historian, this book will help you: - Understand key drivers of financial crises and the principles for managing them. - Recognize warning signs of speculative manias that lead to asset bubbles. - Understand why few investors outperform market indices and why index funds are preferable for most individuals and institutions. - Identify the major threats to U.S. economic prosperity in the twenty-first century. Investing in U.S. Financial History rev

Steven D. Levitt (Freakonomics co-author and University of Chicago Economics Professor) joins the podcast to discuss his career, including being an early leader in applied microeconomics and how the Freakonomics media empire got started, along with his recent decision to retire from academic economics. Transcript available here.  Jon Hartley is an economics researcher with interests in international macroeconomics, finance, and labor economics and is currently an economics PhD student at Stanford University. He is also currently a Research Fellow at the Foundation for Research on Equal Opportunity, a Senior Fellow at the Macdonald-Laurier Institute, and a research associate at the Hoover Institution. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Wartime is not just about military success. Economists at War: How a Handful of Economists Helped Win and Lose the World Wars (Oxford UP, 2020) tells a different story - about a group of remarkable economists who used their skills to help their countries fight their battles during the Chinese-Japanese War, Second World War, and the Cold War. 1935-55 was a time of conflict, confrontation, and destruction. It was also a time when the skills of economists were called upon to finance the military, to identify economic vulnerabilities, and to help reconstruction. Economists at War focuses on the achievements of seven finance ministers, advisors, and central bankers from Japan, China, Germany, the UK, the USSR, and the US. It is a story of good and bad economic thinking, good and bad policy, and good and bad moral positions. The economists suffered threats, imprisonment, trial, and assassination. They all believed in the power of economics to make a difference, and their contributions had a significant impact on po

How did democratic developing countries open their economies during the late-twentieth century? Since labor unions opposed free trade, democratic governments often used labor repression to ease the process of trade liberalization. Some democracies brazenly jailed union leaders and used police brutality to break the strikes that unions launched against such reforms. Others weakened labor union opposition through subtler tactics, such as banning strikes and retaliating against striking workers. Either way, this book argues that democratic developing countries were more likely to open their economies if they violated labor rights. Opening Up by Cracking Down: Labor Repression and Trade Liberalization in Democratic Developing Countries (Cambridge University Press 2022) draws on fieldwork interviews and archival research on Argentina, Mexico, Bolivia, Turkey, and India, as well as quantitative analysis of data from over one hundred developing countries to places labor unions and labor repression at the heart of th

Can brands really support positive social change? In Big Brands are Watching You: Marketing Social Justice and Digital Culture (U California Press, 2024), Francesca Sobande, a Senior Lecturer in Digital Media Studies at Cardiff University explores this question by considering the morality of contemporary brands in contemporary, digitial, culture. The book offers a rich set of case studies, ranging from the ways corporations co-opt social justice campaigns and how nations brand themselves, through to influencers, music festivals, and high end television. A significant contribution to both the theory and practice of branding and marketing, the book will be of interest across social sciences, business, and humanities, as well as anyone interested in the role of branding in modern life. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Bankers brought the global economic system to its knees in 2007 and nearly did the same in 2020. Both times, the US government bailed out the banks and left them in control. How can we end this cycle of trillion-dollar bailouts and make finance work for the rest of us? Busting the Bankers' Club confronts the powerful people and institutions that benefit from our broken financial system—and the struggle to create an alternative. Drawing from decades of research on the history, economics, and politics of banking, economist Gerald Epstein shows that any meaningful reform will require breaking up this club of politicians, economists, lawyers, and CEOs who sustain the status quo. Thankfully, there are thousands of activists, experts, and public officials who are working to do just that. Clear-eyed and hopeful, Busting the Bankers' Club: Finance for the Rest of Us (U California Press, 2024) centers the individuals and groups fighting for a financial system that will better serve the needs of the marginalized and su

Going for Broke, edited by Alissa Quart, Executive Director of the Economic Hardship Reporting Project, and David Wallis, former Managing Director of EHRP, gives voice to a range of gifted writers for whom "economic precarity" is more than just another assignment. All illustrate what the late Barbara Ehrenreich, who conceived of EHRP, once described as "the real face of journalism today: not million dollar-a-year anchorpersons, but low-wage workers and downwardly spiraling professionals."One essayist and grocery store worker describes what it is like to be an "essential worker" during the pandemic; another reporter and military veteran details his experience with homelessness and what would have actually helped him at the time. These dozens of fierce and sometimes darkly funny pieces reflect the larger systems that have made writers' bodily experiences, family and home lives, and work far harder than they ought to be.Featuring introductions by luminaries including Michelle Tea, Keeanga-Yamahtta Taylor, and As

Today, being authentic has become an aspiration and an imperative. The notion of authenticity shapes the consumption habits of individuals in the most diverse contexts such as food and drinks, clothing, music, tourism and the digital sphere, even leading to the resurgence of apparently obsolescent modes of production such as craft. It also significantly transforms urban areas, their local economies and development. Alessandro Gerosa's The Hipster Economy: Taste and Authenticity in Late Modern Capitalism (UCL Press, 2024) analyses this complex set of related phenomena to argue that the quest for authenticity has been a driver of Western societies from the emersion of capitalism and industrial society to today. From this premise, the book advances multiple original contributions. First, it explains why and how authenticity has become a fundamental value orienting consumers' taste in late modern capitalism; second, it proposes a novel conceptualisation of the aesthetic regime of consumption; third, the book cons

In Technofeudalism: What Killed Capitalism (Melville House, 2023), Yanis Varoufakis argues that capitalism is dead and a new economic era has begun. Insane sums of money that were supposed to re-float our economies in the wake of the financial crisis and the pandemic have ended up supercharging big tech's hold over every aspect of the economy. Capitalism's twin pillars - markets and profit - have been replaced with big tech's platforms and rents. Meanwhile, with every click and scroll, we labour like serfs to increase its power. Welcome to technofeudalism. Drawing on stories from Greek Myth and pop culture, from Homer to ​Mad Men, Varoufakis explains this revolutionary transformation: how it enslaves our minds, how it rewrites the rules of global power and ultimately what it will take overthrow it. Louisa Hann attained a PhD in English and American studies from the University of Manchester in 2021, specialising in the political economy of HIV/AIDS theatres. Learn more about your ad choices. Visit megaphone.fm

Informal workers make up over two billion workers or about 50 percent of the global workforce, and yet scholarly understandings of informal workers’ political and civil society participation remain limited. In Why Informal Workers Organize? Contentious Politics, Enforcement, and the State (Oxford University Press, 2022), Calla Hummel finds that informal workers organize in nearly every country for which data exists, but to varying degrees. Why do informal workers organize in some places more than others? Hummel finds that informal workers organize where state officials encourage them to. Grounded in robust theory that builds on and advances canon literature on collective action problems, Hummel argues that when officials intervene with incentives in the form of cash, licenses, and access to the bureaucracy, they lower the barriers that keep people from organizing on their own. Once informal workers take these incentives and start organizations, officials can bargain over regulation and enforcement with repres

In Visions of a Digital Nation: Market and Monopoly in British Telecommunications (MIT Press, 2024), Jacob Ward explains why the privatization of British Telecom signaled a pivotal moment in the rise of neoliberalism, and how it was shaped by the longer development and digitalization of Britain’s telecommunications infrastructure.  When Margaret Thatcher sold British Telecom for £3.6 billion in 1984, it became not only, at the time, the largest stock flotation in history, but also a watershed moment in the rise of neoliberalism and deregulation. In Visions of a Digital Nation, Ward offers an incisive interdisciplinary perspective on how technology prefigured this pivot. Giving due consideration to the politicians, engineers, and managers who paved the way for this historic moment, Ward illustrates how the decision validated the privatization of public utilities and tied digital technology to free market rationales. In this examination of the national and, at times, global history of technology, Ward’s approac

Today’s book is: Look Again: The Power of Noticing What Was Always There (Atria/One Signal Publishers, 2024), by Tali Sharot and Cass R. Sunstein, a book that asks why stimulating jobs and breathtaking works of art lose their sparkle after a while. People stop noticing what is most wonderful in their own lives. They also stop noticing what is terrible, due to something called habituation. Because of habituation, people get used to dirty air, become unconcerned by their own misconduct, and become more liable to believe misinformation. But what if you could dishabituate? Could you find a way to see everything anew? What if you could regain sensitivity, not only to the great things in your life, but also to the terrible things you stopped noticing and so don’t try to change?  In Look Again, neuroscience professor Tali Sharot and Harvard law professor Cass R. Sunstein investigate why we stop noticing both the great and not-so-great things around us and how to “dishabituate.” This groundbreaking work, based on dec

"Most lawyers, most actors, most soldiers and sailors, most athletes, most doctors, and most diplomats feel a certain solidarity in the face of outsiders, and, in spite of other differences, they share fragments of a common ethic in their working life, and a kind of moral complicity." – Stuart Hampshire, Justice is Conflict. There are many more examples of professional solidarity, however fragmented and tentative, sharing the link of a common ethic that helps make systems, and the analysis of them, possible in the larger political economy. Writing from a law professor’s vantage point, Katharina Pistor, in her new book, The Code of Capital: How the Law Creates Wealth and Inequality (Princeton University Press, 2019) explains how even though law is a social good it has been harnessed as a private commodity over time that creates private wealth, and plays a significant role in the increasing disparity of financial outcomes. As she points out in this interview, and her chapter ‘Masters of the Code’, it is ‘critic

How can we build a more equal economy? In Innovation for the Masses: How to Share the Benefits of the High-Tech Economy (U California Press, 2024), Neil Lee, a Professor of Economic Geography at the London School of Economics, explores the question of how societies have fostered and supported innovation. The book challenges conventional assumptions that innovative economies must be unequal. Drawing on 4 detailed, and critical, case studies- Switzerland, Austria, Taiwan and Sweden, the book shows how Europe has good models of innovation; how the state matters; and how innovation and shared prosperity policies are mutually reinforcing. Accessible and clearly written, the book will be essential reading across social sciences and public policy, as well as anyone wanting a blueprint for equitable economic development, Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics