New Books in Economic and Business History

Modern markets and exchange, compared with other social and political spheres, are seen through technical abstractions. This intellectual compartmentalization has political consequences: if capitalism operates through arcane, objective, and rational mechanics, the very real interests and very real consequences of exchange are disguised and simplified. In their empirically dense and theoretically b...

In the late-18th century, a group of publishers in what historian Robert Darnton calls the "Fertile Crescent" — countries located along the French border, stretching from Holland to Switzerland — pirated the works of prominent (and often banned) French writers and distributed them in France, where laws governing piracy were in flux and any notion of "copyright" very much in its infancy. Piracy was...

Professor Andrew Grant Wood’s new edited volume, The Business of Leisure: Tourism History in Latin America and the Caribbean (University of Nebraska Press, 2021), explores the political, economic, and cultural dimensions of tourism in the region and its relationship to nationalism, imperialism, development, and many other themes. The volume also provides a new way of understanding the relationship...

Emma Griffin's Bread Winner: An Intimate History of the Victorian Economy (Yale UP, 2020) offers a refreshingly different take on the age of national prosperity in Britain from the 19th to early 20th centuries. Drawing from a collection of autobiographical accounts from largely-working class families, Griffin captures the forgotten stories of ordinary families who struggled to manage financially a...

Capitalisms: Towards a Global History (Oxford University Press, 2020), edited by Kaveh Yazdani and Dilip M. Menon, aims to decenter work on the history of capitalism by looking at the longue durée from the tenth century; at regions as diverse as Song China, South and South East Asia, Latin America and the Ottoman and Safavid Empires; and exploring the plurality of developments over this extended t...

Historians often portray the National Association of Manufacturers (NAM) as a conservative force in debates over free enterprise, battles against unions and government regulation, and the rise of capitalism in the United States. In The Industrialists: How the National Association of Manufacturers Shaped American Capitalism (Princeton UP, 2020), Jennifer Delton (Professor of History at Skidmore Col...

Ravi Palat’s The Making of an Indian Ocean World-Economy, 1250–1650: Princes, Paddy fields, and Bazaars (Palgrave, 2015) counters eurocentric notions of long-term historical change by drawing upon the histories of societies based on wet-rice cultivation to chart an alternate pattern of social evolution and state formation. It traces inter-state linkages and the growth of commercialization without...

What is money? No, really, what is money? It turns out the answer is not so simple. During the course of the 20th century, most of us have gotten used to the notion of a single medium of exchange based on Federal Reserve notes which we call dollars. They look the same, feel the same, and have the same use everywhere in the country. We are so comfortable with that medium of exchange that we are now...

In an accessible and timely work of scholarship, celebrated historian Joshua B. Freeman's Behemoth: A History of the Factory and the Making of the Modern World (W. W. Norton) tells the story of the factory and examines how it has reflected both our dreams and our nightmares of industrialization and social change. He whisks readers from the early textile mills that powered the Industrial Revolution...

Franchise: The Golden Arches in Black America (Liveright, 2020) by Marcia Chatelain is a fascinating examination of the relationship between the fast-food industry, Black business owners, and the communities where they set up franchises after the Holy Week Uprisings of 1968. Using McDonalds as a “prism” to study the expansion of the fast-food industry and the effects of Black capitalism, Franchise...

The neoliberal 1980s of austerity and privatization may appear as a break with the past—perhaps a model of government drawn up by libertarian economists. Not so, says Amy Offner in her spectacular new book, Sorting Out the Mixed Economy: The Rise and Fall of Welfare and Developmental States in the Americas (Princeton University Press, 2019). Offner, an Assistant Professor of History at the Univers...

“Free enterprise” is an everyday phrase that connotes an American common sense. It appears everywhere from political speeches to pop culture. And it is so central to the idea of the United States that some even labeled Christopher Columbus and the Pilgrims free enterprisers. In his new book, Free Enterprise: An American History (Yale University Press, 2019), Lawrence Glickman analyses that phrase’...

The clerk attended his desk and counter at the intersection of two great themes of modern historical experience: the development of a market economy and of a society governed from below. Who better illustrates the daily practice and production of this modernity than someone of no particular account assigned with overseeing all the new buying and selling? In Accounting for Capitalism: The World the...

This week we take a break from fun and games to talk about business and consumerism–which, to be sure, is for some people also fun and games. As Vicki Howard reminds us in her new book, From Main Street to Mall: The Rise and Fall of the American Department Store (University of Pennsylvania Press, 2015), it used to be that America was filled with department stores. Congenital nostalgics remember pl...

Richard Vague really really cares about private-sector debt. And he thinks you should too. In A Brief History of Doom: Two Hundred Years of Financial Crises (University of Pennsylvania Press, 2019), Vague sees the rise and fall of private sector debt as the key factor explaining the cycle of economic crises experienced by developed and major developing economies over the past two centuries. The ea...

In 1545, a native Andean prospector hit pay dirt on a desolate red mountain in highland Bolivia. There followed the world's greatest silver bonanza, making the Cerro Rico or "Rich Hill" and the Imperial Villa of Potosí instant legends, famous from Istanbul to Beijing. The Cerro Rico alone provided over half of the world's silver for a century, and even in decline, it remained the single richest so...

Michael R. Cohen is Associate Professor of Jewish Studies at Tulane University, where he holds a Sizeler Professorship. He is the author of the newly published Cotton Capitalists: American Jewish Entrepreneurship in the Reconstruction Era from NYU Press (2017), as well as The Birth of Conservative Judaism: Solomon Schechter's Disciples and the Creation of an American Religious Movement from Columb...

The familiar narrative of American business development begins in the industrial North, where paternalistic factory owners, committed to a kind of Protestant ethic, scaled up their operations into ‘total institutions’—an effort to forestall labor turnover by providing housing and fulfilling community needs. Many of these firms were, of course, dependent on the availability of cotton from the South...

Though today the public and private sectors are treated as distinct if not separate, the situation was quite different in early modern England. Back then the two were often intertwined, with one of the best examples of this being the English East India Company. In her book A Business of State: Commerce, Politics, and the Birth of the East India Company (Harvard University Press, 2018), Rupali Mish...

Histories of banking and finance aren’t particularly well-known for being riveting, adventurous reads: they tend to be technical at the expense of being strongly narrative-driven. Peter James Hudson’s Bankers and Empire: How Wall Street Colonized the Caribbean (University of Chicago Press, 2017) defies this stereotype. An examination of private lending in the Caribbean by North American bankers be...

Today I talked to Fahad Bishara about his book A Sea of Debt: Law and Economic Life in the Western Indian Ocean, 1780-1950 (Cambridge University Press, 2017). Dr. Bishara is Assistant Professor of History at the University of Virginia. He specializes in the economic and legal history of the Indian Ocean and Islamic world. In this podcast, Dr. Bishara discusses his sophisticated history that explor...

What comes to mind when you think of Paris in the nineteenth century? For me, its revolutionary politics, the circulation of increasing numbers of people and goods, a range of spectacular cultural displays and amusements, an emergent urban modernity including a host of negotiations between social classes, public and private, men and women, citizens and the state. And if I had to name one historica...

There are as many New Deals as there are books on the subject. Yet only recently have historians begun to dig into the international dimensions of the New Deal. Kiran Klaus Patel is one of those historians, and his book, The New Deal: A Global History (Princeton University Press, 2016), is an impressive crack at showing the transnational intertwinements and comparisons that made up the New Deal’s...

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... Learn more about your ad choices. Visit megaphone.fm/adchoices

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...