New Books in Economics

Why do we always assume it was the New Right that was at the centre of constructing neoliberalism? How might corporatism have advanced neoliberalism? And, more controversially, were the trade unions only victims of neoliberal change, or did they play a more contradictory role? In How Labour Built Neoliberalism: Australia’s Accord, the Labour Movement and the Neoliberal Project (Haymarket 2019), El...

Why are our lives filled with so much stuff? In Crap: A History of Cheap Stuff in America (U Chicago Press, 2023), Wendy Woloson, Professor and Chair in the Department of History at Rutgers University, tells the history of these objects and things, from the early years of peddlers through to modern gadgets, and everything in between. In telling this story the book tells a history of America itself...

Big Tech locked us into their systems by making their platforms hard to leave by design. The impossibility of staying connected to people on their platforms after you delete your account has nothing to do with technological limitations: it's an intentional business strategy. In The Internet Con: How to Seize the Means of Computation (Verso, 2023), Cory Doctorow explains how to seize the means of c...

In 1986 the Khian Sea, carrying thousands of tons of incinerator ash from Philadelphia, began a two-year journey, roaming the world's oceans in search of a dumping ground. Its initial destination and then country after country refused to accept the waste. The ship ended up dumping part of its load in Haiti under false pretenses, and the remaining waste was illegally dumped in the ocean. Two shippi...

Immanuel Wallerstein's world-systems theory can help to better understand and describe developments of the 21st century. The contributors of Wallerstein 2.0: Thinking and Applying World-Systems Theory in the 21st Century (Transcript Publishing, 2023) address ways to reread Wallerstein's theoretical thoughts in the humanities and social sciences. The presented interdisciplinary approach of this ant...

Why does the financial sector matter? In How to Build a Stock Exchange: The Past, Present and Future of Finance (Bristol UP, 2023), Philip Roscoe, a Professor of Management at the University of St Andrews, explores the history of the London Stock Exchange as part of a broader examination of the role of finance in the modern world. Richly detailed, including personal reflections as well as intervie...

The rise of the global financial industry is treated by many economists as a critical component of the rise of neoliberalism. What few address is the role of the 1973 OPEC Oil Embargo and the 1979 Oil Shock in making modern financialization possible.  Ryan C. Smith's book The Real Oil Shock: How Oil Transformed Money, Debt, and Finance (Palgrave MacMillan, 2022) demonstrates how the dramatic trans...

Certain cities—most famously New York, London, and Tokyo—have been identified as “global cities,” whose function in the world economy transcends national borders. Without the same fanfare, formerly peripheral and secondary cities have been growing in importance, emerging as global cities in their own right. The striking similarity of the skylines of Dubai, Miami, and Singapore is no coincidence: d...

The expansion of space travel is much discussed but always seems subject to delay. Why is that and when will it happen on a much larger scale? Douglas Ligor has been considering that issue for the Rand corporation – and he talks to Owen Bennett-Jones about the prospects for space travel. Ligor is co-author of Assessing the Readiness for Human Commercial Spaceflight Safety Regulations (Rand, 2023)...

Why is Memphis home to hundreds of motor carrier terminals and distribution centers? Why does the tiny island-nation of Singapore handle a fifth of the world's maritime containers and half the world's annual supply of crude oil? Which jobs can replace lost manufacturing jobs in advanced economies? Some of the answers to these questions are rooted in the phenomenon of logistics clusters—geographica...

Nicholas Lemann is a staff writer at the New Yorker and a professor of journalism at Columbia. He is the author of four books, the most recent of which is Transaction Man: The Rise of the Deal and the Decline of the American Dream (FSG, 2019). Lemann spoke at the Institute about Transaction Man in 2019. Over the last generation, the United States has undergone seismic changes. Stable institutions...

A sweeping history of the American health care state that reveals the public has been intentionally misled about the true role of government. The US government has always invested federal, state and local dollars in public health protection and prevention. Despite this public funding, however, Americans typically believe the current system is predominantly comprised of private actors with little g...

How do we measure and truly grasp the sweeping social and environmental effects of an oil-based economy?  Focusing on the special economic zones resulting from China's trading partnership with Nigeria, Enclaves of Exception: Special Economic Zones and Extractive Practices in Nigeria (Indiana UP, 2022) offers a new approach to exploring the relationship between oil and technologies of extraction an...

Anchored in the principles of free-market economics, neoliberalism emerged in the 1990s as the world's most dominant economic paradigm. It has been associated with political leaders from Ronald Reagan, Margaret Thatcher, and Bill Clinton, to Tony Blair, Barack Obama, and Manmohan Singh. Neoliberalism even penetrated deeply into communist China's powerful economic system. However, the 2008 Global F...

The World Economic Forum has become the bugbear of the right-wing in Canada, and beyond. Conspiracies swirl about how this shadowy, globalist cabal wants us to live in pods, eat bugs, and “own nothing, but be happy.” These may be mere conspiracy theory and faux populism, but there are many things wrong with the WEF. On this episode, we examine the shifting political discourse surrounding our globa...

The twentieth century was the managerial century in the United States. An organizational transformation, from entrepreneurial to managerial capitalism, brought forth what became a dominant narrative: that administrative coordination by trained professional managers is essential to the efficient running of organizations both public and private. And yet if managerialism was the apotheosis of adminis...

Supply chains matter. And one of the most compelling defences of the capitalist system is that for all its various dysfunctions, it does at least ensure the quick delivery of goods that people want. But in recent years that feature of the system seems to have been challenged by COVID but also perhaps by other factors. So, what’s going on with supply chains? Rob Handfield is the co-author (with Tom...

Ronan Bolton's book Making Energy Markets: The Origins of Electricity Liberalisation in Europe (Palgrave Macmillan, 2022) charts the emergence and early evolution of electricity markets in western Europe, covering the decade from the late 1980s to the late 1990s. Liberalising electricity marked a radical deviation from the established paradigm of state-controlled electricity systems which had beco...

Is Thomas Piketty the world’s most famous economic historian ? A superstar enemy of plutocratic capitalism who wrote a pathbreaking bestseller, Capital in the 21st Century? Or simply a debonair and generous French intellectual happy to talk redistributive justice? Join this 2020 conversation with John and Adaner Usmani (star of RTB’s episode 44: Racism as idea, Racism as Power Relation) to find ou...

Nobody who sits in traffic on Sedona, Arizona's main stretch or stands shoulder-to-shoulder in its many souvenir shops would call it a ghost town. Neither would anyone renting a room for $2,000 a month or buying a house for a half-million dollars. And yet, the people who built the small town and made it a community are being pushed further and further out. Their home is being sold out from under t...

Hello, world! This is the Global Media & Communication podcast series. In this episode, our host Jing Wang discusses the book The Labor of Reinvention: Entrepreneurship in the New Chinese Digital Economy (Columbia UP, 2023) by Lin Zhang. You’ll hear about: A history of the book and Zhang’s entry into the fieldwork through family stories; How to understand entrepreneurialism as a dominant ideology...

When the "sharing economy" launched a decade ago, proponents claimed that it would transform the experience of work--giving earners flexibility, autonomy, and a decent income. It was touted as a cure for social isolation and rampant ecological degradation. But this novel form of work soon sprouted a dark side: exploited Uber drivers, neighborhoods ruined by Airbnb, racial discrimination, and risin...

In From Big Oil to Big Green: Holding the Oil Industry to Account for the Climate Crisis (MIT Press, 2022), Professor Marco Grasso examines the responsibility of the oil and gas industry for the climate crisis and develops a moral framework that lays out its duties of reparation and decarbonization to allay the harm it has done. By framing climate change as a moral issue and outlining the industry...

In 2018, Emily Flitter received a tip that Morgan Stanley had fired a Black employee without cause. Flitter had been searching for a way to investigate the deep-rooted racism in the American financial industry, and that one tip lit the sparkplug for a three-year journey through the shocking yet normalized corruption in our financial institutions. Examining local insurance agencies and corporate ti...

How can we build a better social and political settlement? In Uncomfortably Off: Why the Top 10% of Earners Should Care about Inequality (Policy Press, 2023), Marcos González Hernando an Honorary Research Fellow at the UCL Social Research Institute and Postdoctoral Researcher at Universidad Diego Portale, and Gerry Mitchell a freelance policy researcher, combine a wealth of quantitative analysis w...