New Books In Economics

Almost 10 years after the great financial crisis, how has the finance industry regained its preeminent social position? In Trust, Power and Public Relations in Financial Markets (Routledge, 2017) Clea Bourne, a Lecturer in PR, Advertising and Marketing at Goldsmiths, University of London, explores the relationship between PR and different types of trust in finance. The book offers a nuanced understanding of trust, looking at both transparency and obfuscation for states, banks, stock markets and individuals. Alongside a critical theory of the function of PR, there are numerous detailed case studies, across every aspect of modern financial markets, making the book both an in depth assessment as well as a useful introduction to trust, PR and finance. The book is clearly written and accessible, making it essential reading for anyone interested in this most important part of economy and societyLearn more about your ad choices. Visit megaphone.fm/adchoices

Lizabeth Cohen‘s Making A New Deal: Industrial Workers in Chicago, 1919-1939 was originally published in 1990, and recently re-published in 2014. In this book, Cohen explores how it was that Chicago workers, who could not overcome ethnic and racial divisions during a wave of failed strikes in 1919, came together in the mid to late-1930s across ethnic and racial lines “to make a New Deal” for themselves and their fellow laborers. They made that “New Deal” as members of national labor unions and a national Democratic Party. These successes were possible because of community and cultural changes that took place in the 1920s, Cohen argues. During that decade, ethnic and race-based community organizations, new institutions of mass culture like chain stores and movie theaters, and employers’ “welfare capitalist” programs all vied for workers attention and loyalty. Paradoxically, the very programs employers hoped would prevent the growth of unions actually helped break

A profoundly humane look at an inhumane institution, The Price for Their Pound of Flesh: The Value of the Enslaved, from Womb to Grave, in the Building of a Nation (Beacon Press, 2017) will have a major impact how we think about slavery, reparations, capitalism, nineteenth-century medical education, and the value of life and death. Slaves were commodities, their monetary value assigned based on their age, gender, health, and the demands of the market. This is the first book to explore the economic value of enslaved people through every phase of their lives including preconception, infancy, childhood, adolescence, adulthood, the senior years, and death in the early American domestic slave trade. Covering the full life cycle, historian and author Daina Ramey Berry shows the lengths to which enslavers would go to maximize profits and protect their investments. Illuminating ghost values or the prices placed on dead enslaved people, Berry also explores the little-known domestic cadaver trade and traces the illicit

This week’s podcast is a fraud or at least about a fraud. Edward J. Balleisen has written Fraud: An American History from Barnum to Madoff (Princeton University Press, 2017). Balleisen is associate professor of history and public policy and vice provost of Interdisciplinary Studies at Duke University. Why is fraud committed so frequently in the United States? What about our political and legal institutions has created such an inviting environment for tricksters? And, what has government done to address it? In Fraud, Balleisen surveys centuries of American political, legal, and business history.Learn more about your ad choices. Visit megaphone.fm/adchoices

How might we account for the rapid rise of for-profit educational institutions over the past few decades, who are the students who attend them, how can we evaluate what those schools do and why, and are there actually lessons that traditional higher ed institutions can learn from them? Join us as we speak with Tressie McMillan Cottom about her new book Lower Ed: The Troubling Rise of For-Profit Colleges in the New Economy (The New Press, 2017). 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 Peoples 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 Screen (Oxford, 2017).Learn more about your ad choices. Visit megaphone.fm/adchoices

Dave Gosse’s recent book Abolition and Plantation Management in Jamaica, 1807-1838 (University of the West Indies Press, 2012), looks at a crucial period in Jamaican history. The time between the abolition of Britain’s slave trade in 1807 and the end of slavery and the apprenticeship system in 1838 saw dramatic attempts by plantation owners and managers to continue grinding profit out of their enslaved workers. Gosse takes on previous assumptions about the efficiency and success of those planters and overseers, by arguing that Jamaican management in this period was largely a failure. Not only did the business culture on plantations encourage negligence, and sometimes theft, but those supervising enslaved workers made little attempt to ameliorate their condition. This exacerbated illness, mortality, and encouraged enslaved Jamaicans to push back. The book brings new perspectives on the end of a brutal and exploitative period in Jamaican history.Learn more about your ad choices. Visit megaphone.fm/a

In the forty years between 1881 and 1921, the United States Navy went from a small force focused on coastal defense to one of the world’s largest fleets. In Congress Buys a Navy: Politics, Economics, and the Rise of American Naval Power, 1881-1921 (Naval Institute Press, 2016), Paul Pedisich describes the role that the legislative branch played in making this happen. At the start of the period, the Navy possessed a more decentralized organization than today, with the bureau chiefs who ran it more responsive to Congress than the executive branch. The legislators who played critical roles in shaping policy during this period were often driven more by local concerns than any overarching vision of what the Navy should become. Starting in the 1880s, however, successive presidential administrations gradually persuaded Congress to provide more funding to build modern ships. Over time, America’s growing engagement in global affairs led to the expansion of the navy, as the acquisition of an overseas empire

Sabeel Rahman is the author of Democracy Against Domination (Oxford University Press, 2016). Rahman is assistant professor of law at Brooklyn Law School. Combining perspectives from legal studies, political theory, and political science, Democracy Against Domination reinterprets Progressive Era economic thought for the challenges of today. The book offers a new approach to regulation and governance rooted in democratic theory and the writing of Louis Brandeis and John Dewey. In order to oversee complex economic activities and financial markets, Rahman argues for more democracy, not less, more participation by citizens and more participatory institutions established to facilitate this aim.Learn more about your ad choices. Visit megaphone.fm/adchoices

Timothy Sandefur’s new book, The Permission Society: How the Ruling Class Turns Our Freedoms into Privileges and What We Can Do About It (Encounter Books, 2016) is an argument against the restrictions on individual liberty by local, state and federal governments. Sandefur, the Vice President of Litigation at the Goldwater Institute, contends that the politics of the Progressive Era in America resulted in a faith in experts and empirical data that held the promise of a well-managed society. But Sandefur contends that such a well-intentioned effort resulted in laws that actually mismanaged many aspects of society and resulted in injustices. For example, the Civil Rights Movement was not only hindered by racism, but also by laws and regulations, such as licensure laws that raised barriers to entry in new trades and zoning laws that restricted affordable housing stock. Sandefur also reviews the importance of courts in recognizing and protecting individual liberties against such laws. Sandefur seeks to persu

Matthew Pehl is an associate professor of history at Augustana University. His book, The Making of Working-Class Religion (University of Illinois Press, 2016), gives us a rich and deep study of working class religion in Detroit beginning with the growth of industrialization in the 1910s. He examines the religious consciousness and attitudes toward work and the workplace in a diverse population of ethnic Catholic immigrants, African American Protestants and southern-born evangelicals that migrated to the city. Across religious affiliation, working class religion featured emotional expressiveness, belief in supernatural forces, and held to the sacred nature of work in the face of dehumanizing industrial conditions. Religion as individual expression and a site of social solidarity was in a dynamic relationship with the rise of labor unions across race, ethnic, and religious lines. Pehl highlights the tensions between clergy, workers, industrialists and union leaders in the meaning of work and religion and the pr

In his new book The Age of Sharing (Polity Press, 2016), the sociologist and media scholar Nicholas A. John documents the history and current meanings of the word sharing, which he argues, is a central keyword of contemporary media discourse. John interrogates the rhetorical work that sharing does as a practice, a form of communication and a business model. He argues that in the last decade, sharing has come to dominate the way we think about our online activities, and indeed, the way we live. He demonstrates, how the therapeutic culture that defined the twentieth century, now shapes how we perceive and discuss our personal and economic interactions both online and offline. Moreover, it was the therapeutic discourse that informed and energized the shift from sharing as a distributive practice of material objects to the ethos of sharing as caring. John combines a close analysis of social media sites such as Facebook and businesses such Airbnb with a linguistic analysis of the genealogy of the concept of sharin

One of the most interesting questions of modern history is this: Why is it that Communist China was able to make a successful transition to economic modernity (and with it prosperity) while the Communist Soviet Union was not? In his excellent book The Struggle to Save the Soviet Economy: Mikhail Gorbachev and the Collapse of the USSR (UNC Press, 2016), Chris Miller offers a convincing explanation for the divergent paths of these two Marxist-Leninist powers. Miller shows that Mikhail Gorbachev knew well about the on-going Chinese experiment, and he modeled much of what he attempted to do on it. Yet, as Miller argues, Gorbachev faced much stiffer political and ideological opposition than the Chinese leader, Deng Xiaoping, did. In the USSR, the Party was stronger and there were powerful institutional-economic interests standing in his way. In addition, Soviet socialism had “worked” for masses of ordinary citizens in a way that Chinese socialism had not; many “Soviet people” believed in th

The question of how we should act when facing something gravely immoral is a difficult one. This is particularly true when that immorality touches upon our everyday life. Such was the issue that Quakers, and others, faced with the question of goods produced by slaves. Was consuming goods, such as sugar or cotton clothing manufactured by slaves incompatible with abolitionism? Could the refusal to consume such goods contribute to the liberation of slaves? In her new book, Moral Commerce: Quakers and the Transatlantic Boycott of the Slave Labor Economy (Cornell University Press, 2016), Dr. Julie Holcomb focuses on abolitionists who answered yes to both of these questions. In this carefully researched and fascinating study, Holcomb examines the boycott movement in the Atlantic world, focusing on Britain and the United States, and ties together various discourses on race, religion, culture, and the economy. This book is particularly well suited for those interested in the history of abolitionism, but because of th

Although defined throughout his professional career as a development economist, Albert O. Hirschman’s intellectual scope defied classification. In Worldly Philosopher: The Odyssey of Albert O. Hirschman (Princeton University Press, 2013) Jeremy Adelman describes the course of a restless thinker whose life intersected with some of the most important events and developments of the twentieth century. Born to a family of assimilated Jews, Hirschman grew up in the cosmopolitan atmosphere of Weimar Germany in the 1920s. After the Nazi regime came to power Hirschman began an itinerant existence, gaining an education in economics from universities in three different countries. A passionate anti-fascist, he fought for the Spanish Republic in the Spanish Civil War and France in the Second World War. With the fall of France in 1940 he helped many of Europe’s leading artists and intellectuals escape from Nazi rule before emigrating to the United States himself. After wartime service in the OSS, Hirschman work

How is India’s burgeoning IT industry reshaping the country? What types of capital is IT attracting and what formations does it take? How are software engineers managed? What are their goals and aspirations? How are they perceived by their foreign clients? In her new book, Reengineering India: Work, Capital, and Class in an Offshore Economy (Oxford University Press, 2016), Carol Upadhya tackles these questions and many more. Based on extensive research in Bangalore – the large southern Indian metropolis that has led the IT buzz – the book explores the way capital, work and class are remade within the “new India.” Combining deep, rich and detailed accounts of life within “software factories” with a theoretical eclecticism and clear writing style, the book is a truly wonderful anthropological account of an offshore economy. Carol Upadhya is Professor in the School of Social Sciences, National Institute of Advanced Studies (NIAS), Bengaluru, India.Learn more about your a

Marc Steinberg is a professor of sociology at Smith College. His latest book, England’s Great Transformation: Law, Labor, and the Industrial Revolution (University of Chicago Press, 2016) is a response to Karl Polyani’s vision of an emerging modern labor market in The Great Transformation. Steinberg complicates our understanding of changing power relations by examining how workers were contracted to their employers. The book is centered around three case studies of employers using draconian master-servant laws to control the labor force. Historically rigorous and sociologically imaginative, Steinberg’s analysis does true justice to the stories of his subjects.Learn more about your ad choices. Visit megaphone.fm/adchoices

Christopher Faricy makes a return visit to New Books Network for Part II of a conversation about Welfare for the Wealthy: Parties, Social Spending, and Inequality in the United States (Cambridge University Press, 2016) and the ways in which the U.S. welfare state is configured to obscure its real beneficiaries. We’ll also talk with Prof. Faricy about what a Trump Presidency and unified Republican control of Congress might mean for tax policy, social spending, and inequality. 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 Screen (Oxford, 2017).Learn more about your ad choices. Visit megaphone.fm/adchoices

American social welfare programs are rife with fraud — but its not the kind of fraud most people think of. Daniel Hatcher, Professor of Law at the University of Baltimore, in The Poverty Industry: The Exploitation of America’s Most Vulnerable Citizens (NYU Press, 2016), shows us the ways in which for-profit corporations and state governments alike have generated revenues through the (sometimes legal, sometimes illegal) exploitation of the poorest and most vulnerable Americans. 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 Peoples 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 Screen (Oxford, 2017).Learn more about your ad choices. Visit megaphone.fm/adchoices

Ever since the accidental discovery of oil in Perm in 1929, the so-called “Second Baku” has been known to be an industrial hub as well as the home to a GULAG labor camp. In post-Soviet times, however, Perm has become a new cultural center on Russia’s map. In his book The Depths of Russia: Oil, Power, and Culture after Socialism (Cornell University Press, 2015), Douglas Rogers discusses the role which oil, the precious resource hidden in the depths of the Earth, played in Perm’s story. Conceptually innovative, this book invites the readers to think about the co-production of natural resources and culture and the role state and corporation structures play in this process. In the Perm region, the Lukoil company has been adept at the production of new cultural identity of Perm as a vibrant post-industrial capital, and became the lead sponsor of historical and cultural revival of the city through its high-profile corporate social responsibility work. Douglas argues that Lukoil’s cultu

For Breast Cancer Awareness Month, we hear from Patricia Strach, the author of Hiding Politics in Plain Sight: Cause Marketing, Corporate Influence, and Breast Cancer Policymaking (Oxford University Press, 2016). Strach holds a dual appointment in the Departments of Political Science and Public Administration at the University of Albany, State University of New York. Hiding Politics in Plain Sight examines the politics of market mechanisms–especially cause marketing–as a strategy for public policy change. Strach shows that market mechanisms, like corporate-sponsored walks or cause-marketing, shift issue definition away from the contentious processes in the political sphere to the market, where advertising campaigns portray complex issues along a single dimension with a straightforward solution: breast cancer research will discover a cure and Americans can support this by purchasing specially-marked products. This market competition privileges even more specialized actors with business connections.