New Books in Economic and Business History

Camelids are vital to the cultures and economies of the Andes. The animals have also been at the heart of ecological and social catastrophe: Europeans overhunted wild vicuña and guanaco and imposed husbandry and breeding practices that decimated llama and alpaca flocks that had been successfully tended by Indigenous peoples for generations. Yet the colonial encounter with these animals was not lim...

In recent years, government agencies around the world have been forced to consider the role of competition law and policy in addressing various crises, including the COVID-19 pandemic and the 2008 financial collapse. There is no easy formula that a competition agency can apply to determine the appropriate response to a crisis; indeed, there is substantial debate about the issue. One common critici...

How the 1970s energy crisis facilitated a neoliberal shift in US political culture. In Energizing Neoliberalism: The 1970s Energy Crisis and the Making of Modern America (Johns Hopkins UP, 2023), Caleb Wellum offers a provocative account of how the 1970s energy crisis helped to recreate postwar America. Rather than think of the crisis as the obvious outcome of the decade's "oil shocks," Wellum unp...

During the eighteenth century, Britain’s slave trade exploded in size. Formerly a small and geographically constricted business, the trade had, by the eve of the American Revolution, grown into an Atlantic-wide system through which fifty thousand men, women, and children were enslaved every year. In Traders in Men: Merchants and the Transformation of the Transatlantic Slave Trade (Yale UP, 2023),...

In Tea: Consumption, Politics, and Revolution, 1773–1776 (Cornell University Press, 2023), Dr. James R. Fichter reveals that despite the so-called Boston Tea Party in 1773, two large shipments of tea from the East India Company survived and were ultimately drunk in North America. Their survival shaped the politics of the years ahead, impeded efforts to reimburse the company for the tea lost in Bos...

We are on the verge of a major paradigm shift for investors in the U.S. stock market. Dividend-focused stock investing has been receding in popularity for more than three decades in the U.S.; once the dominant investment style, it is now a boutique approach. That is about to change. Daniel Peris' book The Ownership Dividend: The Coming Paradigm Shift in the U.S. Stock Market (Routledge, 2024) expl...

Over the past decade, many of the world’s biggest companies have found themselves embroiled in legal disputes over corruption, fraud, environmental damage, tax evasion, or sanction violations. Corporations including Volkswagen, BP, and Credit Suisse have paid record-breaking fines. Many critics of globalisation and corporate impunity cheer this turn toward accountability. Others, however, question...

Chelsea Schields's book Offshore Attachments: Oil and Intimacy in the Caribbean (U California Press, 2023) reveals how the contested management of sex and race transformed the Caribbean into a crucial site in the global oil economy. By the mid-twentieth century, the Dutch islands of Curaçao and Aruba housed the world's largest oil refineries. To bolster this massive industrial experiment, oil corp...

Privilege, Economy and State in Old Regime France: Marine Insurance, War and the Atlantic Empire Under Louis XIV (Boydell Press, 2023) closely analyses the rise and fall of Louis XIV's marine insurance institutions in Paris, which were central to the French monarchy's efforts to stimulate commerce, colonial enterprise and economic growth. These institutions were the projects of two leading ministe...

Before she became the host and star of Violent Majorities, the RTB series on Israeli and Indian ethnonationalism, Ajantha Subramanian sat down with Elizabeth and John to discuss The Caste of Merit: Engineering Education in India (Harvard UP, 2019). It is much more than simply an historical and ethnographic study of the elite Indian Institutes of Technology. Ajantha talked to JP and EF about the la...

In the late 1970s, Hollywood producers took the published biography of Crystal Lee Sutton, a white southern textile worker, and transformed it into a blockbuster 1979 film, Norma Rae, featuring Sally Field in the title role. This fascinating book reveals how the film and the popular icon it created each worked to efface the labor history that formed the foundation of the film's story. Drawing on a...

Christopher Corker's The Business and Technology of the Sheffield Armaments Industry, 1900-1930 (U of York, 2016) focuses on four in-depth case studies of John Brown, Cammell-Laird, Thomas Firth and Hadfields to examine the business and technology of the industry. It builds on the work of Tweedale and Trebilcock on Sheffield and armaments, and advances the argument that during the period of study...

In the pursuit of socialism, Cuba became Latin America’s most oil-dependent economy. When the Soviet Union collapsed, the country lost 86 percent of its crude oil supplies, resulting in a severe energy crisis. In the face of this shock, Cuba started to develop a low-carbon economy based on economic and social reform rather than high-tech innovation. The Low-Carbon Contradiction: Energy Transition,...

IBM was the world's leading provider of information technologies for much of the twentieth century. What made it so successful for such a long time, and what lessons can this iconic corporation teach present-day enterprises? James W. Cortada--a business historian who worked at IBM for many years--pinpoints the crucial role of IBM's corporate culture. He provides an inside look at how this culture...

Often cited but rarely studied in their own right, family directories allow a reconsideration of how ancestry and genealogy became an object of widespread commercialization across the eighteenth century. These directories replaced the expensive, locally-produced, early modern artefacts (tombs, windowpanes, illuminated pedigrees), and began to reach a wide audience of readers in the British Isles a...

In his new book Enterprising Empires: Russia and Britain in Eighteenth-Century Eurasia (Cambridge University Press), Matthew Romaniello examines the workings of the British Russia Company and the commercial entanglements of the British and Russian empires in the long eighteenth century. This innovative and highly readable monograph challenges the long-held views of Russian economic backwardness in...

By putting the Midwest at the center of Vast Early America, University of Illinois historian Robert Morrissey reconfigures the power dynamics in the story of North America during the era of colonialism. In his award-winning People of the Ecotone: Environment and Indigenous Power at the Center of Early America (U Washington Press, 2022), Morrissey tells a story that centers the edge - the places wh...

Bands like R.E.M., U2, Public Enemy, and Nirvana found success as darlings of college radio, but the extraordinary influence of these stations and their DJs on musical culture since the 1970s was anything but inevitable. As media deregulation and political conflict over obscenity and censorship transformed the business and politics of culture, students and community DJs turned to college radio to...

Since the last-but-one financial crisis abated and governments responded to better times by clawing back their stimulus packages, a once-obscure economic philosophy has been gaining a growing following on the left. But, following the extraordinary policy response to the COVID-19 pandemic, even some conservative commentators and policy makers are showing an interest in Modern Monetary Theory or MMT...

Building Mid-Republican Rome: Labor, Architecture, and the Urban Economy (Oxford University Press, 2018), offers a holistic treatment of the development of the Mid-Republican city from 396 to 168 BCE. As Romans established imperial control over Italy and beyond, the city itself radically transformed from an ambitious central Italian settlement into the capital of the Mediterranean world. Seth Bern...

Today I talked to Klaus Buchenau about his new book From Grand Estates to Grand Corruption: The Battle Over the Possessions of Prince Albert of Thurn and Taxis in Interwar Yugoslavia (Brill, 2023). When Yugoslavia was created in 1918, noble landowners still possessed vast parts of its territory especially in the northwestern half of the country which had formerly belonged to the Habsburg Monarchy...

What does the collapse of India’s tea industry mean for Dalit workers who have lived, worked and died on the plantations since the colonial era? Plantation Crisis: Ruptures of Dalit life in the Indian Tea Belt (UCL Press, 2022) offers a complex understanding of how processes of social and political alienation unfold in moments of economic rupture. Based on long-term ethnographic fieldwork in the P...

Ming China in 1642 had suffered a series of disasters. Floods, and then drought had destroyed successive rice crops, sending the price of grain to astronomical levels. As one schoolteacher wrote: “There was no rice in the market to buy. Even if a dealer had grain, people passed by without asking the price. The rich were reduced to scrounging for beans or wheat, the poor for chaff or rotting garbag...

Before becoming a financial analyst and then a portfolio manager in New York, Daniel Peris worked as a tenure-track professor of Soviet history. I sat down with Dan and talked about his painful but ultimately successful 1990s transition from academia to finance. We chatted about how historical methods and perspectives shaped Dan's unique approach to investing, a style that he has been popularizing...

Underlying every great city is a rich and vibrant culture that shapes the texture of life within. In The Speculative City: Art, Real Estate, and the Making of Global Los Angeles (U Minnesota Press, 2021), Susanna Phillips Newbury teases out how art and Los Angeles shaped one another’s evolution. She compellingly articulates how together they transformed the Southland, establishing the foundation f...