New Books In Economics

Inflation is back, and its impact can be felt everywhere, from the grocery store to the mortgage market to the results of elections around the world. What's more, tariffs and trade wars threaten to accelerate inflation again. Yet the conventional wisdom about inflation is stuck in the past. Since the 1970s, there has only really been one playbook for fighting inflation: raise interest rates, thereby creating unemployment and a recession, which will lower prices. But this simple story hides a multitude of beliefs about why prices go up and how policymakers can wrestle them back down, beliefs that are often wrong, damaging, and have little empirical basis. Leading political economists Mark Blyth and Nicolò Fraccaroli reveal why inflation really happens, challenge how we think about it, and argue for fresh approaches to combat it. With accessible and engaging commentary, and a good dose of humor, Blyth and Fraccaroli bring the complexities of economic policy and inflation indices down to earth. Policymakers ar

What do a barracks for British troops in the Falklands War, a floating jail off the Bronx, and temporary housing for VW factory workers in Germany have in common? The Balder Scapa: a single barge that served all three roles. Though the name would eventually change to Finnboda 12. And then to Safe Esperia. And later on, to the Bibby Resolution. And after that . . . in short, a vessel with so many names, and so many fates, that to keep it in our sights—as the protagonist of this fascinating economic parable—Ian Kumekawa has no choice but to call it, simply, the Vessel.Despite its sturdy steel structure, weighing 9,500 deadweight tons, the Vessel is a figure as elusive and abstract as the offshore market it comes to embody: a world of island tax havens, exploited labor forces, free banking zones, Thatcherism, Reaganomics, and mass incarceration, where even the prisoners are held offshore. Fitted with modular shipping containers, themselves the product of standardized global trade, the ship could become whatever

A vital examination of how social and economic justice organizations overcome resource disadvantages and build political power. Why do some coalitions triumph while others fall short? In Power to the Partners: Organizational Coalitions in Social Justice Advocacy, Maraam A. Dwidar documents the vital role of social and economic justice organizations in American politics and explores the process by which they strategically build partnerships to advance more effective and equitable advocacy. Using original data tracking the collaboration patterns of more than twenty thousand nationally active advocacy organizations, Dwidar evaluates the micro- and macro-level conditions surrounding these groups' successful efforts to collectively shape public policy. Power to the Partners reveals that while organizational advocates for social and economic justice are at a disadvantage in the American lobbying landscape--financially, tactically, and politically--coalition tactics can help ameliorate these disparities. By building

In this episode, we sit down with Shaina Potts, author of Judicial Territory: Law, Capital, and the Expansion of American Empire (Duke University Press, 2024)—a groundbreaking book that reveals how U.S. courts have quietly become instruments of global economic governance. Drawing on legal geography and a sharp understanding of finance and political economy, Shaina uncovers how American judicial authority has extended beyond borders to discipline postcolonial states, enforce the primacy of private property, and protect the rights of foreign investors. This legal reach—what she calls judicial territory—has been a crucial, yet overlooked, pillar of U.S. empire and the liberal international order. The conversation unpacks how doctrines like foreign sovereign immunity and the act of state doctrine have enabled courts in New York and elsewhere to shape global capital flows, often treating foreign governments like private firms. Through detailed case studies—such as a startling instance where a U.S. court orders Gh

Independent Africa: The First Generation of Nation Builders (Indiana UP, 2023)explores Africa's political economy in the first two full decades of independence through the joint projects of nation-building, economic development, and international relations. Drawing on the political careers of four heads of states: Kwame Nkrumah of Ghana, Ahmed Sékou Touré of Guinea, Léopold Sédar Senghor, and Julius Kambarage Nyerere of Tanzania, Independent Africa engages four major themes: what does it mean to construct an African nation-state and what should an African nation-state look like; how does one grow a tropical economy emerging from European colonialism; how to explore an indigenous model of economic development, a "third way," in the context of a Cold War that had divided the world into two camps; and how to leverage internal resources and external opportunities to diversify agricultural economies and industrialize. Combining aspects of history, economics, and political science, Independent Africa examines the

Crisis Cycle: Challenges, Evolution, and Future of the Euro (Princeton UP, 2025) John Cochrane Luis Garicano Klaus Masuch PRINCETON UNIVERSITY PRESS, 2025 Launched 26 years ago, the euro was never expected to have an easy life but it wasn't supposed to be this hard. A three-year solvency crisis, a string of bailouts, and a rescue by the European Central Bank (ECB) was followed by threats of deflation, negative interest rates, massive purchases of government debt, a global pandemic, a European land war, and an inflation surge. The euro area emerged from these tests but may not survive the next without reforms during this period of relative calm. In Crisis Cycle, economists John Cochrane, Luis Garicano, and Klaus Masuch call for critical reforms to rebuild the system's incentive structure and stop the ECB's unsought mission creep. "A beautiful ship was constructed," they write. "Out at sea, it ran into severe storms. Its captain and crew patched the holes as best they could. Now though it is time to ret

An exploration of workplace participation and earnings patterns for diverse women in US STEM professions that upends the myth that STEM work benefits women economically. Seen as part economic driver, part social remedy, STEM work is commonly understood to benefit both the US economy and people—particularly women—from underrepresented groups. But what do diverse women find when they work in US STEM occupations? What do STEM jobs really deliver—and for whom? In Disparate Measures: The Intersectional Economics of Women in STEM Work (MIT Press, 2024), Mary Armstrong and Susan Averett challenge the conventional wisdom that a diverse US STEM workforce will bring about economic abundance for the women who participate in it. Combining intersectionality theory and critical data theory with a feminist economic analysis, the authors explore how different groups of diverse women truly fare in US STEM professions.Disparate Measures is centered on eight unique, in-depth case studies, each of which provides an intersection

• Philip J. Stern, Empire, Incorporated. The Corporations That Built British Colonialism (Belknap Press of Harvard University Press in 2023), by. • Quinn Slobodian, Crack-Up Capitalism: Market Radicals and the Dream of a World Without Democracy (Penguin, 2023). Adam Smith wrote that, “Political economy belongs to no nation; it is of no country: it is the science of the rules for the production, the accumulation, the distribution, and the consumption of wealth.” However Adam Smith regarded the science of political economy, in practical terms, one is quite hard pressed to find a case where governments—be it an empire, republic, or nation—were completely left out of the picture. At least, that is how it’s been historically. Questions about how people and other types of entities organize and generate capital, AND the role that governments play in all of this, fill libraries. The ramifications of the dynamics and rules surrounding money have proved so consequential—and increasingly so, in our increasingly tech

Biological justification for all forms of inequality has a long history, with the claim that particular groups suffer disproportionately from inherited flaws of ability and character used to explain a remarkably wide variety of inequalities. Providing an important critique of that biodeterminist history and how the Human Genome Project has inspired some contemporary scientists and economists to follow a similar path of ascribing socioeconomic outcomes to genetic inheritance, The American Gene: Unnatural Selection Along Class, Race, and Gender Lines (Routledge, 2025) details new research that suggests that the social and economic environment can affect how genes express themselves in specific human traits and social outcomes. Using the three cases of the American white working class, Black Americans and American women, the authors demonstrate that relying on nature as an explanation is seriously flawed - showing that the socioeconomic inheritance created by the conditions in which these populations worked and

Inside the Competitor's Mindset: How to Predict Their Next Move and Position Yourself for Success (MIT Press, 2023) offers a roadmap to help leaders predict, understand, and react to their competitors’ moves. It is a valuable tool to help companies stay ahead of their competitors when the competition is intensifying. To make the right choice when a competitor is working hard to prevent it is difficult. This book demystifies the process. For organizations developing systematic tools to effectively predict competitor behavior, this book provides a powerful, fact-based approach to building insight into A must-read for anyone seeking to better understand their competitors. This book shares proven methods for thinking like the competition and understand why they act the way they do. The keys are cognitive empathy and an approach that focuses on why competitors behave as they do. The book presents a systematic approach to competitive intelligence that starts with frameworks that get inside a competitor’s mindset, p

Our impact on future generations has never been greater, and the challenges we face are increasingly long-term. Future-Generation Government proposes ways that we can reward our governments for making durable policy decisions that anticipate future crises. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

This book from Cambridge University Professor Tim Minshall provides an enlightening view of how the world of manufacturing world has an immense influence on our lives. We all reside in a world of multiple manufactured products, which include our clothing, food, furniture, electronics, automobiles, and so many other products upon which we rely, including commercial aviation, pharmeceuticals, baked good, and medical devices. Nonetheless, the processes by which these items are made and enter our lives are nearly unknown to us. How often do we think about from where these items come, how they are made, and how they come into our lives? Professor Minshall delivers answers in How Things Are Made: A Journey Through the Hidden World of Manufacturing (Ecco, 2025). The book traces the amazing paths that everyday products take to enter our lives, showing how products are designed, delivered, and assembled in small shops and giant factories throughout the work. The book depicts the role that global shipping hubs plays

Hosts Nina dos Santos and Owen Bennett-Jones are joined by crypto journalist Matt Binder and longtime observer of U.S. politics and policy Edward Luce to explore the staggering wealth being generated by the Trump family’s crypto empire. We also hear from Sergei Sergienko, a crypto entrepreneur who has made and lost hundreds of millions in the crypto markets. Sergei has also faced down gangsters who tried to extort his wealth—an attack that mirrors a recent spate of kidnappings and abductions of crypto players in Paris. Join us for a modern tale of global grift that is changing how the American presidency can function and do deals on the world stage. Guests Matt Binder – Journalist and host of the Scam Economy podcast Edward Luce – U.S. national editor and columnist at the Financial Times. His forthcoming biography of Zbigniew Brzezinski, Zbig: The Life of Zbig Brzezinski, America’s Great Power Prophet, will be published in May 2025 by Simon & Schuster (U.S.) and Bloomsbury (U.K.). Sergei Sergi

Today I interviewed Charles Hecker about Zero Sum. The Arc of International Business in Russia (Oxford UP, 2025). Hecker, a journalist and business consultant, speaks with dozens of Western business executives, bankers, and financiers who reaped immense profits for themselves and their companies in the Russian market, which suddenly opened to foreigners after decades of state planning and economic autarky. These “riskophile” Westerners recall the early post-Soviet Russia as an unchartered territory where business “had a body count” and “violence was cheap, routine and almost casual”. In the 2000s Russia, now stabilized by Putin, offered unparalleled opportunities for those who had learnt to navigate its murky, gray environment. While some expressed concern over the unchallenged primacy of the supreme ruler presiding over arbitrary redistribution of property in favor of his cronies and the rapid consolidation of state ownership, the squeamish were far outnumbered by the opportunistic. Following Russia’s l

Following a group of US Midwest farmers who purchased tracts of land in the tropical savanna of eastern Brazil, Welcome to Soylandia: Transnational Farmers in the Brazilian Cerrado (Cornell University Press, 2025) by Dr. Andrew Ofstehage investigates industrial farming in the modern developing world. Seeking adventure and profit, the transplanted farmers created what Dr. Ofstehage calls "flexible farms" that have severed connections with the basic units of agriculture: land, plants, and labor. But while the transnational farmers have destroyed these relationships, they cannot simply do as they please. Regardless of their nationality, race, and capital, they must contend with pests, workers, the Brazilian state, and the land itself. Welcome to Soylandia explores the frictions that define the new relationships of flexible farming—a paradigm that Dr. Ofstehage shows is ready to be reproduced elsewhere in Brazil and exported to the rest of the globe, including the United States. Through this compelling ethnograp

The Chinese Communist Party’s complex and contradictory embrace of capitalism has played a pivotal role in shaping China’s economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping’s recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China’s economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a r

Embodying Normalcy: Women’s Work in Neoliberal Times (Lexington Books, 2024) calls attention to how women in the United States do a type of unpaid work to embody the latest trends for the purpose of achieving success in neoliberal culture. Using TLC reality shows, lifestyle and beauty influencers, Brazilian butt lift TikToks, and celebrities like Kim Kardashian as her archive, Lucia Soriano delivers four case studies that draw on gender studies, media studies, disability studies, and American studies to illustrate how the prerequisite for women to succeed in neoliberal culture calls for them to treat their bodies as projects that must be transformed every day. Author Lucia Soriano is assistant professor in women’s, gender, and sexuality studies and ethnic studies at Albion College. The episode is hosted by Ailin Zhou, PhD student in Film & Digital Media at University of California - Santa Cruz. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! http

Donald Trump is putting liberal democracy through its greatest test in 80 years.  None of it is original. His style of rule is straight from the democratic backsliders' playbook. To secure long-term power rather than short-term office, rulers must take over the institutions that check and balance majority rule and bend them to their will. Trump has tamed Congress and inserted his people into the Supreme Court, law enforcement, intelligence, and competition regulation but - to his great frustration - the Federal Reserve is holding out. It was the same story in Hungary after Viktor Orbán returned to the premiership in 2010. Bound by EU law and the mandates of the governor and his deputies, Orbán had to wait three years to break the national bank. One of those deputy governors, Júlia Király, experienced state capture from the inside and resigned with a public protest at the loss of institutional independence. Now an associate professor of finance and monetary economics at the International Business School in

How can urban housing, and the land underneath, now account for half of all global wealth? According to Patrick Condon, the simple answer is that land has become an asset rather than a utility. If the rich only indulged themselves with gold, jewels, and art, we wouldn’t have a global housing crisis. But once global capital markets realized land was a good speculative investment, runaway housing costs ensued. In just one city, Vancouver, land prices increased by 600 percent between 2008 and 2016. How much wealth have investors extracted from urban land? In Broken City: Land Speculation, Inequality, and Urban Crisis (U British Columbia Press, 2024), Patrick Condon explains how we have let land, our most durable resource, shift away from the common good – and proposes bold strategies that cities in North America could use to shift it back. Patrick Condon is the James Taylor chair in Landscape and Livable Environments at the University of British Columbia’s School of Architecture and Landscape Architecture and t

Forest Lost: Producing Green Capitalism in the Brazilian Amazon (2024) is an ethnography of forest carbon offsets and the wider effort to make the living rainforest valuable in the Brazilian Amazon. Situated in the state of Acre, which continuously had to grapple with a complex positionality between frontier and periphery, Maron E. Greenleaf explores forest carbon offset to understand green capitalism. Commodifying forest carbon offset requires keeping carbon in place through forest protection and valuation, unlike other forest commodities – for example Açaí berries, which also feature in the ethnography – that involve extraction. Initially set out to do a supply chain analysis, Greenleaf instead wrote a well-thought-out account disentangling the relationships at play in a place which at the time was celebrated for being ‘a leader in forest- focused development’, through tracing the complexity of the uneven, contingent and contesting cultural, material and multispecies relations involved in making forest carb