New Books In Economics

How do new policies move from one city or country to another, and is there something distinct about how those transfers work in our perpetually accelerating and ever-more interconnected world? Join us as Jamie Peck, Canada Research Chair in Urban & Regional Political Economy and Professor of Geography at the University of British Columbia, talks about his and Nik Theodore’s new book, Fast Policy: Experimental Statecraft at the Thresholds of Neoliberalism (University of Minnesota Press, 2015). 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

On the podcast this week is Daniel Amsterdam, author of Roaring Metropolis: Businessmen’s Campaign for a Civic Welfare State (Penn Press, 2016). He is assistant professor in the School of History and Sociology at Georgia Institute of Technology. Many have claimed that we are living in a second Gilded Age, marked by the same extreme wealth and high levels of inequality as the early part of the previous century. Amsterdam takes us back to this time period to investigate how the Gilded Age addressed poverty and the role of the business community. Roaring Metropolis describes the rise of urban capitalists at the turn of the last century. Far from anti-government zealots, Amsterdam shows that business leaders pushed for extensive government spending on social programs. They advocated for public schooling, public health, the construction of libraries, museums, parks, and playgrounds. As Amsterdam demonstrates, public spending soared in American cities, especially Detroit, Philadelphia, and Atlanta, during the

With the recent economic collapse and rising income inequality, lessons drawn from turn-of-the century capitalism have become frequent. Pundits, policymakers, and others have looked to the era to find precursors to an unregulated market, corrupt bankers, and severe economic inequality. The comparisons are often too simple, however. In their new book, The Cotton Kings: Capitalism and Corruption in Turn-of-the-Century New York and New Orleans (Oxford University Press, 2015), Barbara Hahn and Bruce Baker examine capitalism at the turn of the century, telling a more nuanced story about the cotton market, politics, and regulation. The Cotton Kings examines the ups and downs of the cotton futures market, explaining how cotton brokers were able to keep cotton prices low by controlling information. This enriched the brokers, but impoverished farmers. A small group of brokers in New Orleans successfully cornered the market in the early 1900s, in effect, self-regulating the cotton market and raising prices for years. T

During the 18th century English country houses served an important function in their society as stages for the display of the status and power of the landed aristocracy. As Jon Stobart and Mark Rothery demonstrate in Consumption and the Country House(Oxford University Press, 2016), though, they also played a revealing role as centers of consumption. Using three aristocratic families from the Midlands as case studies, Stobart and Rothery survey their patterns of spending over several generations, revealing the factors that shaped them. This spending, they argue, was not constant but instead saw fluctuations that coincided with life events, such as deaths and inheritances. Such dramatic changes were followed by the acquisition of goods that often were then used to create venues for these families to display their elite identity, with pursuit of the fashionable often tempered by issues of taste, rank and lineage. Stobart and Rothery’s analysis is not confined to large expenditures, however, as they also ex

Accounts of late-nineteenth-century US expansionism commonly refer to an open-door empire and an imperialism spurred by belief in free trade. In his new book The “Conspiracy” of Free Trade: The Anglo-American Struggle over Empire and Economic Globalization, 1846-1896 (Cambridge University Press, 2016), Marc-William Palen challenges this commonplace. Instead, he notes, American adherents to Richard Cobden’s free-trade philosophy faced off against and ultimately lost to a powerful version of protectionist economic nationalism inspired by German-American economic theorist Friedrich List. The success of Listian protectionism spurred closed-door, aggressive US expansionism and also challenged free-trade orthodoxies in Britain, where political-economic policy also shifted toward protectionism by the end of the nineteenth century.Learn more about your ad choices. Visit megaphone.fm/adchoices

Mumbai is in many ways the paradigmatic city of India’s celebrated economic upturn, but the city’s transformation went hand-in-hand with increasing water woes. In Pipe Politics, Contested Waters: Embedded Infrastructures of Millennial Mumbai (Duke University Press, 2015), Lisa Bjorkman, Assistant Professor of Urban and Public Affairs at the University of Louisville, moves from slums to elite enclaves in analyzing the processesof mapping and politics in the city’s watery infrastructures. Exploring the workings of secondary markets, water brokers, and planning offices she reveals how power, knowledge and authority over how when and why water flows are being reconfigured as Mumbai makes itself a “world class”city. Winner of the 2014 Joseph W. Elder Prize in the Indian Social Sciences the book is both profoundly intimate in its ethnographic depth and wonderfully ambitious with its theoretical reach.  Learn more about your ad choices. Visit megaphone.fm/adchoices

In The Rag Race: How Jews Sewed Their Way to Success in America and the British Empire (New York University Press, 2015), Adam Mendelsohn, Associate Professor of History at the University of Cape Town, embarks on a comparative exploration of Jews in the rag (or clothing) trade in the British Empire and the U.S. Differences within the garment industries in, for example, London and New York, explain the divergence in social and economic outcomes for Jews in each setting. Mendelsohn’s narrative helps us better understand the limits of “cultural,” and other, explanations for modern Jewish economic mobility.Learn more about your ad choices. Visit megaphone.fm/adchoices

Two Canadian political science professors contend that the grotesque inequities of the capitalist system feed hatred, nourish misogyny, promote chronic dispossession and wreak havoc on the environment. In their new book, The Servant State: Overseeing Capital Accumulation in Canada, (Fernwood, 2015), Geoffrey McCormack and Thom Workman, add that [o]nly when humanity moves beyond this system of social and natural exploitation will the well-being of all improve. Their book suggests, however, that moving beyond capitalism in advanced, industrial countries will not be easy since such states are ruled by governments that consistently serve the interests of the capitalist business class, helping it accumulate the machinery and equipment that are the means of capitalist production. They argue that the capitalist state also reinforces the coercive nature of capitalism with labour market policies designed to force workers into accepting jobs even if they’re poorly paid and insecure. In The Servant State, McCormac

Ho-fung Hung‘s new book has two main goals: to to outline the historical origins of Chinas capitalist boom and the social and political formations in the 1980s that gave rise to this boom, and to explore the global effects of Chinas capitalist boom and the limit of that boom. In doing so, The China Boom: Why China Will Not Rule the World (Columbia UP, 2016) offers a timely and provocative account of the emergence and transformations of capitalism in modern China, and of the consequences of its entanglements with the rest of the world for the global political economy. In addition to an in-depth assessment of the Chinese economy, readers will find fascinating discussions of Chinas relations with Africa and Latin America, as well as some thoughtful comparative considerations. Hung’s book traces the rise of capitalism in China from the seventeenth century through today, and uses this historical grounding to point to possible futures. The China boom, Hung maintains, is destined to collapse.Learn more a

Resistance to the industrial food system has, over the past decades, led to the rise of alternative food movements. Debate about genetically modified food, sugar consumption, fast food and the obesity crisis (to name a few) is pervasive. Most often, this focuses on individual consumer choice. Garrett M.Broad argues, however, for the importance of community level initiative. He maintains that the vote with your fork movement obscures the structural foundation of the corporate food system. The alternative food movements, as a whole, fail to recognize that the inequities in the food system are connected to histories of racial and economic discrimination. Broad’s book More Than Just Food: Food Justice and Community Change (University of California Press, 2016) examines the work of community-based food justice groups operating in South Los Angeles, like Community Services Unlimited (CSU). Founded as an arm of the South California Black Panther Party, CSU organizes at a grassroots level to provide community a

What do jeans tell us about the contemporary world? They provide the starting point for Lynne Pettinger‘s Work, Consumption and Capitalism (Palgrave Macmillan, 2015). Pettinger, an associate professor of sociology at the University of Warwick, examines the interrelationships between work and consumption, bringing a global perspective to these intertwined areas of social life. The book introduces core theories of capitalism, work, bodies, emotions and markets, with key examples including the fashion industry and other ‘aesthetic’ economies. The book has a profound concern with the ethics of work and consumption, challenging ideas of what a good job or good work may be. Well written, with accessible examples and easy to follow discussions of complex ideas, Work, Consumption and Capitalism will be of interest to a range of social science scholars and students. Dave OBrien is the host of New Books In Critical Theory and is a Senior Lecturer in Cultural Policy at the Institute for Cultural and C

In No Such Thing as a Free Gift: The Gates Foundation and the Price of Philanthropy (Verso Books, 2015), Linsey McGoey proposes a new way of discussing philanthropy and, in doing so, revives associated historical debates often overlooked at present: from the ethics of clinical trials to industrial labor organizing in the early 20th century to global financial regulation. Tracing theological and industrial origins, among others, of what is now the field of philanthropy, Dr. McGoey asks how these institutions fit into the larger global economy. More broadly, McGoey suggests that capitalism has become the bedrock of many philanthropic social change efforts, reflected in the terms philanthrocapitalism, impact investment, and social enterprise among others. What, then, are the most appropriate questions to ask about regulation, morality, well-being, accountability, and profitability? No Such Thing As A Free Gift starts by examining the industry in the language of monopolies, investments, regulation, taxes, and dem

Lawrence Jacobs and Desmond King are the authors of Fed Power: How Finance Wins (Oxford UP, 2016). Jacobs is the Walter F. and Joan Mondale Chair for Political Studies and Director of the Center for the Study of Politics and Government in the Hubert H. Humphrey School and the Department of Political Science at the University of Minnesota. King is the Andrew W. Mellon Professor of American Government at the University of Oxford and Professorial Fellow, Nuffield College, Oxford. Lawrence Jacobs and Desmond King’s Fed Power follows the Federal Reserve Banks historic development from the 19th century to its current position as the most important institution in the American economy, possessing considerable autonomy to intervene in private markets. Despite its power and considerable resources, Jacobs and King claim that the Fed was asleep at the wheel when the recent economic crisis hit. The Fed acted swiftly to contain the crisis, but in the process exposed its strong favoritism. The authors dissect how the

Labour consciousness is not just class-based; it also emerges out of cultural identities, as Tran Ngoc Angie argues powerfully in Ties that Bind: Cultural Identity, Class, and Law in Vietnam’s Labor Resistance (Cornell University Press, 2013). Vietnamese workers habitually form relationships based on native place, ethnicity, religion and gender. At critical class moments, as Tran calls them, these workers can also succeed in transcending or building on their cultural ties to form larger movements for labour rights. Through detailed study of 33 cases from French colonial Indochina to present day Vietnam, Tran tracks labour activism across a range of political and economic conditions, industries and sectors. Concentrating on the period since economic reform and liberalization from 1986 to the present, she compares worker agency in state-owned and equitized factories, factories with foreign-direct investment and domestic privately owned factories, to arrive at findings that speak to conditions not only in

Jefferson Cowie is the James G. Stahlman professor of history at Vanderbilt University. His book The Great Exception: The New Deal and the Limits of American Politics (Princeton University Press, 2016) interprets the New Deal as a massive but unstable experiment from the main of American political culture. Against arguments that the New Deal was the product of the American penchant for reform, Cowie asserts that it was a remarkable historical detour. The Great Depression and WWII were specific historical circumstances that wrought a short-lived effort for central government intervention in securing collective economic rights. Unions flourished, industrial workers gained job security and good wages, and the country enjoyed a relative amount of political cohesion. Multiple legislative measures and the growth of unions offered a countervailing power against corporate wealth accumulation and promised a bright economic future. Several enduring fissures in political culture would all but undo the New Deal after the

A village terrorized by a man eating tiger and a state struggling to implement possibly the largest social security program in the world coalesce in this wonderful ethnography of bureaucracy by Nayanika Mathur. Paper Tiger: Law, Bureaucracy and the Developmental State in Himalayan India (Cambridge University Press, 2015) is a detailed account of paper that reveals the unintended consequences of reforms, the problems with implementing new programs and the inability of state officials to act when faced with crises. Rich, lively, and theoretically compelling Paper Tiger pushes us to rethink how the state operates in India and beyond. Ian M. Cook is a social anthropologist whose research focuses on small cities, rhythms and everyday life in south India. His publications can be accessed at ceu.academia.edu/IanCook. He can be reached at ianmickcook@gmail.com.Learn more about your ad choices. Visit megaphone.fm/adchoices

Heather Boushey has written Finding Time: The Economies of Work-Life Conflict (Harvard University Press, 2016). Boushey is Executive Director and Chief Economist at the Washington Center for Equitable Growth. How should policy-makers respond to the fact that women now make at least a quarter of the earnings in more than two-thirds of families with children and, in many households, women bring in more than half of the earned income? In Finding Time, Boushey offers a round-map for policy-makers to adjust social policy for these positive changes in the economy and U.S. workforce. Paid sick days, paid family and medical leave, scheduling predictability, limiting overwork, and elder care are all options on the agenda that many states and localities have implemented. Boushey argues for a more comprehensive approach to social policy that draws on what has been learned about effective policy making and the reality of the 21st century economy. This podcast was hosted by Heath Brown, Assistant Professor of Public Poli

Adam Kucharski, who won the 2012 Wellcome Trust Science Writing Prize, has delivered another winner in an area rife with both winners and losers. The Perfect Bet: How Science and Math Are Taking the Luck Out of Gambling (Basic Books, 2016) is a brilliant, fascinating, and sometimes slightly terrifying look at how math and science are not just conquering gambling, the algorithms that math has devised and the computerized means of implementing them are paradoxically simultaneously removing risk and creating a lot more of it. Jim Stein is an emeritus professor of mathematics at California State University, Long Beach. As has been noted, the word ’emeritus’ comes from the Latin ‘ex’ — meaning ‘out’ — and ‘meritus’ — meaning ‘ought to be’. Despite that, Jim still teaches a course a semester, either at CSULB or El Camino Community College. He is the author of L.A. Math: Romance, Crime and Mathematics in the City of Angels, Cosmic Numbers

The social sciences are about social entities – things like corporations and traffic jams, mobs and money, parents and war criminals. What is a social entity? What makes something a social entity? Traditional views hold that these things can be fully explained by facts about people – their bodies, their attitudes or some combination of these. In The Ant Trap: Rebuilding the Foundations of the Social Sciences (Oxford University Press, 2015), Brian Epstein argues that such views of social facts are untenably anthropocentric: social facts supervene on much more than just people. His model distinguishes two kinds of questions that a theory of social ontology must answer. When are social categories realized, or what grounds a social fact (such as the fact that someone is a war criminal)? And what explains how these categories get established, or what anchors the category? Epstein, an assistant professor of philosophy at Tufts University, also uses his model to provide a new analysis of group action and

Christian Olaf Christiansen is an associate professor in the history of ideas at Aarhus University, Denmark. His book Progressive Business: An Intellectual History of the Role of Business in American Society (Oxford University Press, 2015) offers a compelling history of the idea of a gentler capitalism, or of the “soulful” self-regulating corporation, that can flourish economically while doing social good. The idea of “market reformism” against a pure laissez-faire has been an important concept in three distinct periods of U.S. history. In the late nineteenth century, the nation experienced the first economic transformation toward large-scale industrial capitalism engendering “paternalistic market reformism” to alleviate the harshest elements of laissez-faire. The second period of change was the decades of the New Deal in which “political reformism” took hold. Advocates for self-regulation promoted a “managerial market reformism” in which professiona