New Books In Economics

As Reader in Industrial Management in the Adam Smith Business School at the University of Glasgow, Rob Dekkers is well positioned to survey the currents of the vibrant systems tradition in the United Kingdom.  In his book, Applied Systems Theory, out in its second edition from Springer in 2017, Dekkers seeks to augment the valuable work done by Soft Systems Methodology in facilitating the engagement of multiple stakeholders, as well as the achievements of a host of other established cybernetic and systems approaches, with a set of modeling tools more formally rigorous than those previously on offer.  By drawing our attention to such factors as the need to keep secondary processes and resources within the boundaries of system models, the importance of a balanced blend of feedback and feed-forward control mechanisms, and the potential for miscommunication between differently focused “aspect systems” contained within the same organization, Dekkers offers the next generation of systems practitioners new technique

Stephen C. Yeazell‘s Lawsuits in a Market Economy: The Evolution of Civil Litigation (University of Chicago Press, 2018) is an in-depth look at the development and current situation of civil litigation. It beings with the question of why civil lawsuits have become such a political question and uses that to explore our world of settlements, arbitration, trials and insurance adjusting. It gives an expert, informed and even-handed look at what can be a contentious topic and is accessible to the layperson and edifying even to the professional. It portrays our environment of civil litigation as an evolving one where real people solve real problems, often for society’s benefit.Learn more about your ad choices. Visit megaphone.fm/adchoices

Is India facing a waste crisis? As its population, cities and consumption grow what are the implications for the health, well being and everyday lives of Indians? In Waste of a Nation: Growth and Garbage in India (Harvard University Press, 2018), Assa Doron and Robin Jeffrey discuss the genealogy of garbage and how it grew in quantity and changed in consistency in liberalising India. The book also provides us with an exhaustive birds eye view of the technological, socio-political and administrative challenges faced by those who work for a cleaner India. Ian Cook is a Research Fellow at the Centre for Media, Data and Society at the Central European University, Budapest and also the host of Online Gods: A Podcast about Digital Cultures. Juli Perczel is a PhD candidate in anthropology at the University of Manchester.Learn more about your ad choices. Visit megaphone.fm/adchoices

In The Darkening Nation: Race, Neoliberalism, and Crisis in Argentina (University of Wales Press, 2018), Ignacio Aguiló studies the sociocultural impact caused by the failure of the IMF economic measures in Argentina of 2001-2002. Through the lens of cultural production (films, novels, short stories, artwork and music), the author explores two of the country’s so-called exceptionalisms: whiteness and economic success. These myths, heavily endorsed by the military dictatorship during the 1970s and early 1980s, created a sense of homogeneity and uniqueness that came into question at the time of the crisis. All of the cultural products studied by the author show different aspects of what was actually a crisis in the exceptionality myths that linked race with progress. Pamela Fuentes is Assistant Professor in the Women’s and Gender Studies Department, Pace University, NYC campus.Learn more about your ad choices. Visit megaphone.fm/adchoices

I was joined in Oxford by Ben Clift, Professor of Political Economy, Deputy Head of Department and Director of Research at the Department of Politics and International Studies of the University of Warwick. Ben has just published a very important, timely and interesting book on the IMF: The IMF and the Politics of Austerity in the Wake of the Global Financial Crisis by Ben Clift (Oxford University Press, 2018). The book provides the first comprehensive analysis of major shifts in IMF fiscal policy thinking as a consequence of the great financial crisis and the Eurozone debt crisis. It widely presents the IMF’s role in the politics of austerity. The book also offers an innovative theory specifying four mechanisms of IMF ideational change – reconciliation, operationalization, corroboration, and authoritative recognition. It combines in-depth content analysis of the Fund’s vast intellectual production with extensive interviews with IMF economists and management. The book is structured in seven c

For decades the implementation of a single European currency was seen by its advocates as a vital step in the post-World War II movement toward greater European integration. As Ashoka Mody details in Eurotragedy: A Drama in Nine Acts (Oxford University Press, 2018), however, the euro that emerged was built on a dangerously flawed set of assumptions, ones which have made the euro a key factor in the continent’s ongoing economic problems. First proposed by French leaders in the 1960s, the idea of a single European currency was viewed by them as a way of shoring up their presence in the global economy. Though German politicians and bankers were initially resistant to implementing such a currency, this changed during the chancellorship of Helmut Kohl. As he grappled with the resistance to German reunification at the end of the Cold War, Kohl embraced the single currency as a symbol of Germany’s commitment to European cooperation and over the course of the 1990s he shepherded its creation over the objections of ec

In When Wheat Was King: The Rise and Fall of the Canada-UK Grain Trade (University of British Columbia Press, 2016), André Magnan connects the cultivation of wheat on the Canadian prairies to the consumption of bread in Britain. Using the concept of a “food regime” as a theoretical frame, Magnan identifies three broad periods of stability in the relationship between Canadian wheat and British bread: a “UK-centered” food regime from about 1870 to 1914, a “mercantile-industrial” food regime from 1945 to 1972, and a “corporate” or “corporate-environmental” food regime from 1995 to the present. Separating these three periods are two periods of instability, the first including the two World Wars and the second beginning with the simultaneous oil crisis and entry of the Soviet Union into the global wheat trade in the 1970s. Through these phases of relative stability and instability, Magnan traces the institutions that linked the cold, dry Canadian prairies to the cities of Britain, including banks and food processi

Telling the story of a former colony post-independence is tricky, no matter if it’s a colony in Latin America, the Middle East or East Asia. Where does the idea of the ’nation’ slot in? Does it exist independent of colonialism? How does one talk about decolonization in post-imperial contexts? Then, you have to consider the interlocking concepts of language, race and even war. In the Sudanese case, that story can be told through the emergence of economic developmentalism. In Transforming Sudan: Decolonization, Economic Development, and State Formation (Cambridge University Press, 2017), Alden Young tells the story of how the Sudanese state was shaped post-independence as a result of economic planning. Through global, regional, and national notions of how to economically plan a state, Young traces the people, resources, and policies that would have consequences for generations to follow. Alden Harrington Young is assistant professor in the departments of History and of Global Studies and Modern Languages and di

Did capitalism exist in ancient Greece, the cradle of democracy and western civilization? I was joined to discuss this and other issues with Donni Wang, the author of Before the Market: The Political Economy of Olympianism (Common Ground, 2018). The book is not a traditional book of economics as history and philosophy play a big role. Not surprisingly Donni studied Economics, at Berkeley, and Classics, at Stanford. She now holds a position in History at Shanghai University. Previous studies have applied quantitative models and social science methods to determine the extent of market activities and growth in ancient Greece. Before the Market, instead, employs techniques from the cultural-linguistic turn to examine economic matters. With this approach the author argues to be able to shed light on a new economic system—one that is vastly different from the market system. At the same time, the underlying theoretical framework that links culture, identity, and action also prompts a radical redefinition of state po

The Future of University Credentials: New Developments at the Intersection of Higher Education and Hiring (Harvard Education Press, 2016) offers a thorough and urgently needed overview of the burgeoning world of university degrees and credentials. At a time of heightened attention to how universities and colleges are preparing young people for the working world, questions about the meaning and value of university credentials have become especially prominent. Sean R. Gallagher, EdD, guides us through this fast-changing terrain, providing much-needed context, details, and insights. The book casts a wide net, focusing on traditional higher education degrees and on the myriad certificates and other postsecondary awards that universities and other institutions now issue. He describes the entire ecosystem of credentials, including universities and colleges, employers, government agencies, policy makers and influencers—and, not least, the students whose futures are profoundly affected by these certifications. And he

In Austrian Reconstruction and the Collapse of Global Finance, 1921–1931 (Harvard University Press, 2018), Nathan Marcus, analyzes the events that took place around the financial crisis in Austria after World War I. When Austria was the first interwar country in Europe to suffer a hyperinflation the League of Nations stepped in to offer financial support and advice. But a total collapse of the financial system in 1931 couldn’t be avoided. Nathan Marcus offers a new perspective on the already well researched subject and an individual approach not only with regards to content but also on a methodological level by interlacing multiple perspectives and sources (such as journals and caricatures, literature, anecdotes etc.) with each other to create a wider understanding for the events. Nathan Marcus is an Assistant Professor of Modern European History at the Higher School of Economics, National Research University, Saint Petersburg, Russia.Learn more about your ad choices. Visit megaphone.fm/adchoices

Today I was joined by Seamus Grimes from Ireland where he is Emeritus Professor at the National University of Ireland, Galway. With Yutao Sun (Dalian University of Technology), he just published a very interesting and timely book China and Global Value Chains: Globalization and the Information and Communications Technology Sector (Routledge, 2018). President Trump has raised the intriguing question of bringing the manufacturing of companies like Apple back from China to the U.S. This book, however, argues that in this age of the knowledge-based economy and increased globalization, that value creation and distribution based on knowledge and innovation activities are at the core of economic development. The double-edged sword of globalization has transformed China’s economic development in the past few decades. Although China has benefitted from globalization and is now the second largest economy in the world, having become a global manufacturing power and the biggest exporter of high-tech products, it continue

Michael Sandel is Anne T. and Robert M. Bass Professor of Government at Harvard University. Sandel is an internationally renowned political philosopher who Newsweek has lauded as “the world’s most relevant living philosopher.” His latest project is a video series titled What Money Can’t Buy, which has Michael and an international group of college students exploring the question “What, if anything, is wrong with a world in which everything is for sale?” You can view the series for free at whatmoneycantbuy.org. The "Why We Argue" podcast is produced by the Humanities Institute at the University of Connecticut as part of the Humility and Conviction in Public Life project. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

I met in Rome, at Sapienza University, with two of the three editors of a great new book in economics. Marcella Corsi is professor of economics at Sapienza University of Rome, Italy, and editor of the International Review of Sociology. Carlo D’Ippoliti is associate professor of economics at Sapienza University of Rome, Italy, and editor of PSL Quarterly Review. He is also one of the hosts of this channel. The third editor is Jan Kregel, director of research at the Levy Economics Institute of Bard College, USA, and professor of development finance at Tallinn University of Technology, Estonia. He is also co-editor of the Journal of Post-Keynesian Economics. Classical Economics Today (Anthem Press, 2018) is a collection of essays in honour of Alessandro Roncaglia. It provides an overview on his contributions and on the Classical tradition in Economics. It is a history of ideas in Economics but also an attempt to discuss their contemporary relevance to economic policy and economic theory. The contributors to the

What’s not to like about economic growth, you might ask? Well, quite a lot, it turns out, once we begin to examine how GDP and other measures of the economy are constructed, and once we see what they leave out (and perhaps just as troubling, what they leave in). Join us as we speak with David Pilling about his new book, The Growth Delusion: Wealth, Poverty, and the Well-Being of Nations (Tim Duggan Books/Bloomsbury, 2018), which helps us understand the problems with how we typically evaluate national economies and offers some alternative approaches even though each of those options presents their own challenges. Stephen Pimpare is Senior Lecturer in the Politics & Society Program and Faculty Fellow at the Carsey School of Public Policy at the University of New Hampshire. He is the author of The New Victorians (New Press, 2004), A People’s History of Poverty in America (New Press, 2008), winner of the Michael Harrington Award, and Ghettos, Tramps and Welfare Queens: Down and Out on the Silver

Today I talked to Fahad Bishara about his book A Sea of Debt: Law and Economic Life in the Western Indian Ocean, 1780-1950 (Cambridge University Press, 2017). Dr. Bishara is Assistant Professor of History at the University of Virginia. He specializes in the economic and legal history of the Indian Ocean and Islamic world. In this podcast, Dr. Bishara discusses his sophisticated history that explores the intricate legal and economic regimes that traversed the Western Indian Ocean for generations. He also talks about how he effectively mined legal documents to craft this narrative. The following podcast was originally published on H-Law’s Legal History Podcast.Learn more about your ad choices. Visit megaphone.fm/adchoices

Today I was joined by Martijn Konings from Australia where he is Associate Professor of Political Economy at the University of Sydney. We had a conversation on his most recent book Capital and Time: For a New Critique of Neoliberal Reason (Stanford University Press, 2018). Its main contribution is to offer an original point of view on the issue of speculation. Critics of capitalist finance tend to focus on its speculative character. Our financial markets, they lament, encourage irresponsible bets on the future that reflect no real underlying value. Why is it, then, that opportunities for speculative investment continue to proliferate in the wake of major economic crises? To make sense of this, Capital and Time offers an understanding of economy as a process whereby patterns of order emerge out of the interaction of speculative investments. Speculation, he argues, is an essential intrinsic feature of capitalism and not just a negative spillover or a collateral behavior. The book also provides an original view

Professor George Paul Meiu‘s debut anthropological book, Ethno-erotic Economies: Sexuality, Money, and Belonging in Kenya (University of Chicago Press, 2017), dives into the commodification of culture and sex on the beachfronts of coastal Kenya, as well as the ramifications and shifting economic power dynamics in rural Samburu villages that result from this new economy. Utilizing over a decade of community engagement and research, Meiu expertly engages in intense anthropological study without exploitation and judgment. Rather he succeeds in humanizing his subjects as he explores the creation and development of a new economy, that of engaging with white, largely Western European women, in romantic relationships in exchange for money, goods and, eventually, higher economic and social status in their home rural communities. But with this new economy comes challenges to traditional social structures, as sexuality and wealth intersect with traditional land tenure and power. Meiu, with his deep understanding

Did Abraham Maslow actually ever draw a pyramid of hierarchy of needs? Did Kurt Lewin devote substantial work on the development of a change management theory? Why do we omit or misrepresent important features of the work of Adam Smith, Max Weber or Frederick Winslow Taylor? What is the forgotten origin of Harvard Business School case method? I was joined by two of the authors—Stephen Cummings and Todd Bridgman— ofA New History of Management (Cambridge University Press, 2016), a great new book that answers those and many more questions. The book is a very important contribution to critical management studies that uncovers the inaccuracies and simplifications (if not actual inventions) that populate management and organization textbooks. A New History of Management is not a conspiracy theory, but rather it is the result of rigorous historical research on how the field of management studies was constructed in the past century. The authors argue that the existing narratives about how we should organi

What role has the World Bank played in influencing health sector reform in Latin America? In her new book, Banking on Health: The World Bank and Health Sector Reform in Latin America (Palgrave Macmillan, 2017), Shiri Noy explores this question and more using mixed methods, including interviews, quantitative analysis, and review of policy documents and archives. The book starts off by providing readers a history of the World Bank and its role in health reform. Even though it may seem as if the World Bank would have a similar solution across countries, Noy finds that involvement and plans are more variable due to the systems already in place within these countries. Noy then moves on to an analysis of health expenditures, finding surprising results that further drove her research project and curiosity. The book then explores three countries in turn: Argentina, Peru, and Costa Rica. This book provides rich analysis of a complex social issue and set of systems, sending the reader away with both empirical and theor