New Books In Economics

Staci Zavattaro is the author of the new book Cities for Sale: Municipalities as Public Relations and Marketing Firms (SUNY Press, 2013). Zavattaro is assistant professor of public administration at Mississippi State University. Cities have received renewed interest from political scientists recently. Previously, Ravi K. Perry was on the podcast to discuss his book Black Mayors, White Majorities: The Balancing Act of Racial Politics (University of Nebraska Press, 2014). Zavattaro approaches the local subject from the perspective of public administration and an eye toward the marketing of cities. You’d be hard presses to live in a community that hasn’t launched a new publicity campaign or a new slogan to attract new residents.  Zavattaro tries to analyze these efforts and suggests that cities use six selling tactics to advance their interests: branding, media relations, in-house publications, use of volunteers and outside organizations as PR surrogates, aesthetic and affective appeal, and built env

Since the 1990s, the music industry has been going through a massive transformation. After World War II, the primary way audiences participated in the music business in the period between 1945 and 1990 was by purchasing records and attending concerts. The internet and the mp3 file, however, have changed how people are listening to music. In Popular Music in a Digital Music Economy: Problems and Practices for an Emerging Service Industry (Routledge, 2014), Tim Anderson explores how the music industry is changing from selling records as its primary purpose to a new paradigm in which artists must be entrepreneurial, audiences are end users, and record companies are investing in music brands, not simply records. Anderson’s book is a great guide for this new world. In his book, he draws on a wide range of examples from Moby and Lupe Fiasco to Amanda Palmer and Jonathan Coulton. He also introduces readers to the role that music supervisors, such as Alexandra Pastavas, are playing in film and television. Dr. T

John Nathan Anderson’s new book, Radio’s Digital Dilemma: Broadcasting in the 21st Century (Routledge, 2014), documents the somewhat tortured path of broadcast radio’s digital transition in the United States.  Beginning his analysis with rise of neoliberal communications policy in the 1980s, Anderson charts the development of the idea of digitalization by closely examining two key archival sources: The Federal Communication Commission’s extensive archive of rulemaking and public comments and the archives of the two most important trade journals in broadcast radio, Radio World and Current. As Anderson explores in the book, FCC regulatory neglect coupled with the huge consolidation within the radio industry following the passage of the Telecommunications Act of 1996 resulted in a digital transition that was dictated largely by commercial interests.  For example, the most important decision about digital radio – the engineering standard for digital broadcasting – was determine

The continued growth of online gaming and virtual worlds has effects not only in the analog world, with games and social media organizations taking stock options public, but also in the worlds created online. Many games and platforms allow users to involve themselves in virtual labor, to own property, and most importantly to make purchases. This one of areas where the analog and virtual crossover. And the question for platform providers becomes how to capitalize on user interest while earning money. In the new book Virtual Economies: Design and Analysis (MIT 2014), Vili Lehdonvirta, a research fellow at the Oxford Internet Institute, at the University of Oxford and Edward Castronova, professor of communications and cognitive science at Indiana University provide a detailed examination of the underpinnings and motivations for the creation of virtual economies. Lehdonvirta and Castronova consider various international examples to provide a comprehensive look at the markets that continue to be embedded into all

Jim Russell is a sociologist and it was his encounter with the hidden realities of his own 401(k) retirement plan that touched off his crusade to demystify for himself, and then others, just what was at stake in the options presented by private and public retirement plans. In Social Insecurity: 401(k)s and the Retirement Crisis (Beacon Press, 2014), he puts into plain language for ordinary Americans the arcane terminology used by retirement-fund managers, and uses his own real-life experiences to build an empathetic bond with anxiety-laden readers. Russell moves seamlessly between the personal and political, the present and past, the domestic and global. The holism of his sociology is Russell’s strongest suit. With admirable succinctness and clarity–this is economics for the-rest-of-us–he recounts the Chicago-school economics that spawned the right-wing privatization movement. He then situates in the emergence of neoliberalism the corporate campaign to move billions of dollars from American

Brett Scott is the author of The Heretic’s Guide to Global Finance: Hacking the Future of Money (Pluto Press, 2013). Scott is a journalist, urban deep ecologist, and Fellow at the Finance Innovation Lab. While much of Scott’s book focuses on explaining various aspects of the financial services section, the heart of the book is a call to action. Scott infuses this call with a variety of first-hand experiences as a campaigner for radical approaches to disrupt the sector. For this reason, the book acts as a guide to activism, applicable for those interested in global finance, but also other domains that are ripe for criticism. His blog that he mentions at the end of the podcast can be found here.Learn more about your ad choices. Visit megaphone.fm/adchoices

Americans are very politically divided. Democrats say we need a more powerful welfare state while Republicans say we need to maintain the free market. The struggle, we are constantly informed, is one of ideas. And that it is in the worst possible sense, for neither the Democrats nor Republicans seem interested in evidence. They don’t want the facts to get in the way of their arguments. In his remarkable book The Political Economy of Human Happiness: How Voters’ Choices Determine the Quality of Life (Cambridge University Press, 2013), Benjamin Radcliff provides facts that should help both Democrats and Republicans, despite their many differences, decide how to proceed. He asks a simple, compelling question: do conservative or liberal public policies make people happier? After an extensive and sophisticated analysis of the data, he reaches an equally simple, compelling answer: liberal policies do. Radcliff is a great friend of the free market; it is obvious, he says, that capitalism is the best econ

Much of the progress in technology today has come about as a result of innovators who did not seek prior approval from regulatory bodies and such. Yet, even with the beneficial results from innovations like the commercial Internet, mobile technologies, and social networks, a disposition exists to be overly cautious with respect to new things.  Adam Thierer calls this the “precautionary principle” in his new book Permissionless Innovation: The Continuing Case for Comprehensive Technological Freedom (Mercatus Center, 2014). The “precautionary principle”–which, Thierer argues, is based on fear and concern about loss of control–limits the creativity inherent in unfettered tinkering. In contrast, Thierer advocates “permissionless innovation,” an attitude that would allow experimentation to continue without hinderance. Of course does not mean that there is no use for policies for new technology, as some developments require regulation. Policymakers should, however, ta

Nicholas Carnes is the author of White-Collar Government: The Hidden Role of Class in Economic Policy Making (University of Chicago Press, 2013). Carnes is an assistant professor of public policy in the Sanford School of Public Policy at Duke University. There is surprisingly little in the research literature on the link between social class and legislative behavior. For a topic that seems so ripe for investigation, Carnes’ data collection and analysis open new ground and answer pressing questions. He shows that formerly blue collar workers who serve in Congress behave differently than formerly white collar workers. Blue collar workers are in the extreme minority in numbers, meaning their efforts to pass legislation that tilts towards the working class are often stymied. Carnes offers fresh insight into why this matters for representation more generally and several recommendations for how to rectify this in the future.Learn more about your ad choices. Visit megaphone.fm/adchoices

In 1927 Russian-American legal theorist Alexander Sack introduced the doctrine of “odious debt.” Sack argued that a state’s debt is “odious” and should not be transferable to successor governments after a revolution, if it was incurred without the consent of the people; and not for their benefit. This doctrine has largely been rejected, with a firm presumption of “sovereign continuity” emerging instead: post-revolutionary governments must repay sovereign debt even if it was incurred to cover the personal expenses of plutocrats. If they fail to do so, their credit reputation is harmed. As Odette Lienau explains in a striking line, “we can now imagine prosecuting the leaders of a fallen regime for crimes against a state’s population while simultaneously asking that population to acknowledge and repay the fallen regime’s debts.” In Rethinking Sovereign Debt: Politics, Reputation, and Legitimacy in Modern Finance (Harvard University Press, 2014), L

The British Marxist economist Maurice Dobb is now largely forgotten. That’s too bad for a number of reasons. He was a brilliant thinker who wrote some of the most insightful analyses of the development and workings of capitalism around. You can still read his work and profit. He was the intellectual godfather of several notable British Marxist historians of the “New Left” of the 1960s and 1970s: Rodney Hilton, Christopher Hill, E.P. Thompson, among others. And, perhaps most importantly, his life gives us a window into a forgotten time, one in which a economists took communism seriously and fellows at Cambridge could earnestly believe in a bright communist future. This, I think, is a time we must not forget. Thanks to Timothy Shenk‘s well-researched, readable biography Maurice Dobb: Political Economist (Palgrave-Macmillan, 2013), we won’t have to. Shenk tells Dobb’s tale in all its tortured complexity. A member of the establishment and an anti-establishmentarian. A dyed-in-

The cultural and material history of what is fashionable or “trendy” can be particularly revealing about the time period under study. The most recent work that underscores this point is Jennifer Anderson‘s Mahogany: The Cost of Luxury in Early America (Harvard University Press, 2012).  Anderson traces the popularity of mahogany wood in the mid eighteenth century from its use in England–a matter of necessity due to wood shortages–to its elective use in the American colonies among elite classes as a measure of cultural and social refinement. Unlike ephemeral goods like sugar and tobacco (which were purchased by elites but consumed and discarded shortly thereafter) mahogany was something solid, something lasting, something passed down to subsequent generations. Social engagements revolved around mahogany. Elites coveted the intricate and ornate furnishings, which because of mahogany’s incredible density, could only be crafted with mahogany. Even the middling classes would indu

Aswin Punthamabekar‘s From Bombay to Bollywood: The Making of a Global Media Industry (New York University Press, 2013) offers a deeply researched and richly theorized look at the evolution of the world’s largest film industry over the past few decades. Combining ethnographic research with close textual analyses of Bollywood films, Punthamabekar shows how the media industry’s growth has been complexly intertwined with India’s emerging place in the global economy. The book offers a nuanced look at globalization, bringing to light the tensions and productivities that emerge when a highly powerful, historically localized industry enters the world of multinational capitalism.Learn more about your ad choices. Visit megaphone.fm/adchoices

Pedro Oliveira provides a fascinating glimpse into his transition from academia into consultancy, with a guide for those like minded to boot. People-Centered Innovation: Becoming a Practitioner in Innovation Research (Biblio Publishing, 2013) chronicles Oliveira’s journey from his work as a clinical psychologist in Portugal, to becoming an anthropologist in the UK, and moving into the world of business and innovation. Written for a general audience, this book is a mix of case studies, theory for practitioners, and autobiographical information that shows how to apply work in the social sciences to the problems facing businesses today. This is a great read for anyone interested in psychology and anthropology, as well as how business and innovation is changing due to the influence of the humanistic sciences.Learn more about your ad choices. Visit megaphone.fm/adchoices

Kevin Kerrane‘s Dollar Sign on the Muscle: The World of Baseball Scouting (CreateSpace, 2013) represents the first major study of the history and practice of professional baseball scouting.  Based on Kerrane’s ethnographic research with the Philadelphia Phillies during the 1981 season, the book provides an inside look at one of sports’ least understood professions and most unusual subcultures. Originally released in 1984, the book became a cult favorite among baseball analysts and historians, eventually finding a place on Sports Illustrated‘s list of the top 100 sports books of all time.  For the past decade the book has been notoriously hard to find, with copies selling for up to $50 on eBay.  It is now widely available in rerelease from Baseball Prospectus, the leading voice in progressive, contemporary baseball research. In addition to the original text, the rerelease features a new introduction and an extended epilogue updating the book for the 2010s.Learn more about your ad choice

In Branding the Nation: The Global Business of National Identity, Melissa Aronczyk locates the rise of nation branding as a response to the perceived need to sculpt national identity in the face of a fiercely competitive global economy. In tracking the history of the nation-branding phenomenon, Aronczyk recounts the rise and spread of the very idea of national “competitiveness,” a discourse that, in effect, created a market that branding specialists then tapped. The book engages with the large scholarly literature on nations and nationalism, arguing that nation branding should not be dismissed as merely the invasion of business practices into the national imaginary–though it has this character, undeniably–but that the practice should also be read as a discourse that maintains, extends, and reconstitutes the nation. Based on dozens of interviews with nation-branding specialist over a five-year period, Aronczyk develops major case studies of Poland and Canada in particular, and substanti

Philip Mirowski is author of Never Let A Serious Crisis Go To Waste: How Neoliberalism Survived the Financial Meltdown (Verso Books 2013). Mirowski is the Carl Koch Chair of Economics and the History of Philosophy at the University of Notre Dame. He’s previous authored Science-Mart, Machine Dreams, and More Heat than Light. Mirowski brings his broad background as an economist, historian, and philosopher to this meaty subject. He weaves together a stinging critique of the ways many economists reacted to the recent economic crisis with a larger discussion of the nature of economic ideas in politics. He highlights the rise of the Mont Pelerin Society and its links to what he dubs the Neoliberal Thought Collective. Rather than resting on broad generalities, he distinguishes between famed neoliberals to show how, for example, Milton Friedman and George Stigler approach their advocacy in very different ways. Philip Mirowski is a contributor to Public Books.Learn more about your ad choices. Visit megaphone.fm/

While it has become typical to see Filipina/o migrants working in nursing or domestic work in the United States, many are surprised to see Filipina/os doing the same work in Hong Kong, Israel, and Dubai. Indeed, Filipina/o workers are ubiquitous around the globe, and may be the world’s first truly global labor force. In Robyn Rodriguez‘s new book, Migrants for Export: How the Philippine State Brokers Labor to the World (University of Minnesota Press, 2010),Rodriguez explores labor brokerage as a global capitalist strategy wherein the Philippine state mobilizes its citizens and sends them abroad to work for employers throughout the world while generating profit from the remittances that migrants send back to their families and loved ones remaining in the Philippines. Rodriguez traces this trend in Filipina/o overseas workers, which has become one of the largest labor export systems in the world. Ultimately, she questions how and why citizens from the Philippines have come to be the most globalized

Life insurance! The very word sends shivers of excitement down the spine. OK, maybe not . . . but Sharon Murphy‘s book on the development of the life insurance industry in the United States from its infancy in the early republic through its breakthrough as a mass industry during the Civil War might make you change your mind. Deeply researched but also deeply entertaining (really!), Investing in Life: Insurance in Antebellum America (Johns Hopkins University Press, 2010; paperback, 2013) describes how the early pioneers of the insurance industry figured out how to sniff out frauds, figure mortality tables, market themselves to a suspicious population, and tap into middle class hopes and anxieties — especially middle-class Americans reticence about thinking about death (their death, at least). Investing in Life will change what you think about the history of business in the United States.Learn more about your ad choices. Visit megaphone.fm/adchoices

George Brock approached his book about newspapers and journalism in the digital age unwilling to write another gloom-and-doom narrative about the death or decline of the industry. When he studied the historical development of journalism and current trends, he found the industry is what is always has been: volatile, evolving, and vital to society’s well being. Out of Print: Newspapers, Journalism and the Business of News in the Digital Age (Kogan Page, 2013) is an important look at the industrial, economic, and pragmatic realities of a shifting industry. Using modern case studies, including the phone-hacking scandal that brought down Great Britain’s News of the World, as well as historical research and recent data, Brock examines where journalism was, is and will be. Brock, head of City University London’s prestigious graduate school of journalism, has produced a work that transcends academia without sacrificing methodology or theory. “Because journalism lives on the frontier between de