New Books In Economics

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

“Free enterprise” is an everyday phrase that connotes an American common sense. It appears everywhere from political speeches to pop culture. And it is so central to the idea of the United States that some even labeled Christopher Columbus and the Pilgrims free enterprisers. In his new book, Free Enterprise: An American History (Yale University Press, 2019), Lawrence Glickman analyses that phrase’s historical meaning and shows how it became common sense. Glickman, a historian and the Stephen and Evalyn Milman Professor in American Studies at Cornell University, traces the phrase from its many 19th-century meanings, of which abolitionists wielded a dominant one (consider the word free), to its conservative reformulation in the 1920s and 30s. He shows how “free enterprise” became the rallying cry of the business community from the 1930s to the Powell Memo in the early 70s. This book is a whirlwind tour of a keyword that has had immense rhetorical power in modern American history and that scholars have yet to cr

What can we learn from the financial crisis that brought Hitler to power? How did diplomatic deadlock fuel the rise of authoritarianism? Tobias Straumann shares vital insights with 1931: Debt, Crisis, and the Rise of Hitler (Oxford University Press, 2019). Through his fast-paced narrative, Straumann reveals how inflexible treaties created an inescapable debt trap that spawned Nazism. Caught between investor confidence and domestic political pressure, unrealistic agreements left decision makers little room for maneuver when crisis struck. 1931 reminds us of hard lessons relevant to designing resilient agreements today. Tobias Straumann is a Senior Lecturer at the University of Zurich and teaches economic history both to historians and economists. His research interests span numerous contributions to contemporary European business, monetary, and financial history. 1931 is his fourth book. Ryan Stackhouse is a historian of Europe specializing in modern Germany and political policing under dictatorship. His book

Just in Time - the urgent need for a just transition in the Arab region. The newly published book Dismantling Green Colonialism: Energy and Climate justice in the Arab Region (Pluto Press, 2023) edited by Hamza Hamouchene and Katie Sandwell questions the development of sustainable energy production in the middle eastern and north African region. Positioning itself as part of a wider discussion of just transition, it provides wonderful insight into the colonial and capitalist narratives used to legitimise projects coming from the Global North. Furthermore, it highlights the fact that there is a need to deconstruct environmental orientalism to tackle questions of power at a local, regional, and international level. Hamza Hamouchene is a researcher, activist and the programme coordinator for Africa at the Transnational Institute, based in the UK. Originally from Algeria, he brings wide understanding of climate and social justice.  Sarah Vogelsanger is a master student at SOAS in "Environment, Politics, and Devel

In Politics in the Crevices: Urban Design and the Making of Property Markets in Cairo and Istanbul (Duke UP, 2023), Sarah El-Kazaz takes readers into the world of urban planning and design practices in Istanbul and Cairo. In this transnational ethnography of neighborhoods undergoing contested rapid transformations, she reveals how the battle for housing has shifted away from traditional political arenas onto private crevices of the city. She outlines how multiple actors—from highly capitalized international NGOs and corporations to city dwellers, bureaucrats, and planning experts—use careful urban design to empower conflicting agendas, whether manipulating property markets to protect affordable housing or corner luxury real estate. El-Kazaz shows that such contemporary politicizations of urban design stem from unresolved struggles at the heart of messy transitions from the welfare state to neoliberalism, which have shifted the politics of redistribution from contested political arenas to design practices oper

Today I talked to Ryan Manucha about his new book Booze, Cigarettes, and Constitutional Dust-Ups: Canada's Quest for Interprovincial Free Trade (McGill-Queen's UP, 2022). In 2012, after Gerard Comeau had driven to Quebec to purchase cheaper beer and crossed back into New Brunswick, police officers tailed and detained him, confiscated his haul, and levied a fine. With Comeau's story as his starting point, Ryan Manucha tells the fascinating tale of Canadian interprovincial trade. Interprovincial trade barriers and other frictions bring much-needed revenue into the coffers of provincial governments, which then can direct these funds toward various social services, but hinder the mobility of professionals, account for the different building codes imposed by Canadian provinces, and generally increase the price tag for Canadian consumers. In a candid interview, Ryan explains his interest in this topic, the backbone of his book's argument, and his efforts to make change workable. Learn more about your ad choices. Vi

We begin this new season of International Horizons with an interview by RBI Director John Torpey with Neta Crawford from Oxford University and the Cost of War Project. Prof. Crawford argues that conflict is less lethal than in the past, although the overall costs of war exceed the duration of previous wars in many dimensions. The conversation delves into the possibilities of a conflict with China and Crawford's concern that the U.S's overreaction to the Chinese challenge could be extremely perilous. That said, misperceptions and misconceptions of the so-called "China threat" can be mitigated through diplomatic exchanges. Finally, Professor Crawford discusses the costs of the ongoing conflict in the Middle East, arguing that war has both domestic and external causes and consequences – a point that needs to be better understood when we think about war today. International Horizons is a podcast of the Ralph Bunche Institute for International Studies that brings scholarly expertise to bear on our understanding o

The US government is laboring under an enormous debt burden, one that will impact the living standards of future generations of Americans by limiting investment in people and infrastructure. In his new book, Fiscal Therapy: Curing America's Debt Addiction and Investing in the Future (Oxford University Press, 2019), Brookings Institution senior scholar William Gale tackles the challenge head on, addressing what needs to happen to healthcare spending, Social Security, individual taxes, and corporate taxes, in order to make the numbers add up. It makes for sober reading, and the longer we wait, the worse the situation becomes. And the key challenge may not even be fiscal, but political, as the disagreements in Washington over the debt are as deep as the debt is large. Gale ends by making a few simple, inside-Washington suggestions as to how he thinks the political impasse can be broken. Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the

We speak with Richard Detweiler about his new book The Evidence Liberal Arts Needs: Lives of Consequence, Inquiry and Accomplishment (MIT Press, 2021). This multi-year project, which entailed interviews with a national sample of over 1,000 college graduates aged 25-64, provides convincing evidence of the benefits the liberal arts in enabling individuals to lead more fulfilling lives and successful careers. He uses an innovative definition of the liberal arts which focuses on the distinctive: 1) purpose, 2) context, and 3) content of a liberal arts education, measuring the frequency and intensity of these elements across different higher education institutions. He also shares insights from his tenure as President of Hartwick College and the head of the Great Lakes College Association. David Finegold is the president of Chatham University. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Point Saint-Charles, a historically white working-class neighborhood with a strong Irish and French presence, and Little Burgundy, a multiracial neighborhood that is home to the city’s English-speaking Black community, face each other across Montreal’s Lachine Canal, once an artery around which work and industry in Montreal were clustered and by which these two communities were formed and divided.  In Deindustrializing Montreal: Entangled Histories of Race, Residence, and Class (McGill-Queen's UP, 2022), Steven High challenges the deepening divergence of class and race analysis by recognizing the intimate relationship between capitalism, class struggles, and racial inequality. Drawing extensive interviews, a massive and varied archive of imagery, and original photography by David Lewis into a complex chorus, Steven High brings the two communities to life, tracing their history from their earliest years to their decline and their current reality. He extends the analysis of deindustrialization, often focused on

Winners Take All meets Nickel and Dimed: a provocative debunking of accepted wisdom, providing the pathway to a sustainable, survivable economy. Confronted by the terrifying trends of the early twenty-first century - widening inequality, environmental destruction, and the immiseration of millions of workers around the world - many economists and business leaders still preach dogmas that lack evidence and create political catastrophe: Private markets are always more efficient than public ones; investment capital flows efficiently to necessary projects; massive inequality is the unavoidable side effect of economic growth; people are selfish and will only behave well with the right incentives. But a growing number of people - academic economists, business owners, policy entrepreneurs, and ordinary people - are rejecting these myths and reshaping economies around the world to reflect ethical and social values. Though they differ in approach, all share a vision of the economy as a place of moral action and account

In the early 1990s, Mongolia began a transition from socialism to a market democracy. In the process, the country became more than ever dependent on international mining revenue. Nearly thirty years later, many of Mongolia's poor and rural feel that, rather than share in the prosperity the transition was supposed to spread, they have been forgotten. Moral Economic Transitions in the Mongolian Borderlands (UCL Press, 2023) analyzes this period of change from the viewpoint of the rural township of Magtaal on the Chinese border. After the end of socialism, the population of this resource-rich area found itself without employment or state institutions yet surrounded by lush nature and mere kilometers from the voracious Chinese market. A two-tiered resource-extractive political-economic system developed. At the same time as large-scale, formal, legally sanctioned conglomerates arrived to extract oil and other resources, local residents grew increasingly dependent on the Chinese-funded informal, illegal cross-borde

During the “global land grab” of the early twenty-first century, legions of investors rushed to Africa to acquire land to produce and speculate on agricultural commodities. In Sweet Deal, Bitter Landscape: Gender Politics and Liminality in Tanzania's New Enclosures (Cornell UP, 2024), Youjin Chung examines the messy, indeterminate trajectory of a high-profile land deal signed by the Tanzanian government and a foreign investor: a 99-year lease to over 20,000 hectares of land in coastal Tanzania—land on which thousands of people live—to establish a sugarcane plantation. Despite receiving significant political support from government officials, international development agencies, and financial institutions, the land deal remained stalled for over a decade.  Drawing on long-term research combining ethnographic, archival, participatory, and visual methods, Chung argues that the dynamics of new and incomplete enclosures must be understood in relation to the legacies of colonial/postcolonial land enclosures, cultura

Many books on happiness suggest that we have considerable control over our level of happiness by doing or not doing specific things, like mediation, exercise, and maintaining social ties.  Approaching happiness through the lens of economics, Vani Kant Borooah takes a different approach in his book Economics, Religion and Happiness: God, Mammon and the Search for Spiritual and Financial Wealth (Routledge, 2024). He argues that while it is true that we can take such actions to improve our relative level of day-to-day happiness, there are also significant influences which fall outside of our control and depend heavily upon the attitudes and actions of other people. The book identifies the internal factors of personal happiness and measures the relative strength of their contribution, then contrasts that with an analysis of the externalities that people impose upon the happiness of others.  These externalities are the direct result of intolerance and feelings of envy and superiority. Taking a cue from Jean-Paul S

American households have a debt problem. The problem is not, as often claimed, that Americans recklessly take on too much debt. The problem is that US debt policies have no basis in reality. Weaving together the histories and trends of US debt policy with her own family story, Chrystin Ondersma debunks the myths that have long governed debt policy, like the belief that debt leads to prosperity or the claim that bad debt is the result of bad choices, both of which nest in the overarching myth of a free market unhindered by government interference and accessible to all.  In Dignity Not Debt: An Abolitionist Approach to Economic Justice (U California Press, 2024), Ondersma offers a compelling, flexible, and reality-based taxonomy rooted in the internationally recognized principle of human dignity. Ondersma's new categories of debt--grounded in abolitionist principles--revolutionize how policymakers are able to think about debt, which will in turn revolutionize the American debt landscape itself. Stephen Pimpare

Larry Summers, Harvard economics professor and 71st US Secretary of the Treasury, joins the podcast for an in-depth discussion of his career at the highest levels of academic economics, economic policy, university leadership, and corporate America. 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