New Books in Economics

In Seven Crashes: The Economic Crises That Shaped Globalization (Yale UP, 2023), distinguished economic historian Harold James offers a fresh perspective on the past two centuries of globalization and the pivotal moments that shaped it. James analyzes seven major economic crises that occurred over this period, including the late 1840s, the simultaneous stock market shocks of 1873, the First World...

On the latest episode of The MIT Press podcast, Robyn Metcalfe, food historian and food futurist, discusses her new book, Food Routes: Growing Bananas in Iceland and Other Tales from the Logistics of Eating.  Even if we think we know a lot about good and healthy food—even if we buy organic, believe in slow food, and read Eater—we probably don't know much about how food gets to the table. What happ...

Based on qualitative interviews with sustainability-oriented parents of young children, Kirstin Munro's book The Production of Everyday Life in Eco-Conscious Households (Bristol UP, 2023) describes what happens when people make interventions into mundane and easy-to-overlook aspects of everyday life to bring the way they get things done into alignment with their environmental values. Because the a...

Rajesh Veeraraghavan’s Patching Development: Information Politics and Social Change in India (Oxford University Press, 2022) offers the first ethnographically grounded perspective on the Mahatma Gandhi National Rural Employment Guarantee Act (2005), which was promulgated as a welfare oriented ‘right to work’ scheme by the Indian Parliament at the recommendation of civil society organizations and d...

Public companies now face constant pressure to meet investor expectations. A company must continually deliver strong short-term performance every quarter to maintain its stock price. This valuation treadmill creates incentives for corporations to deceive investors. Published more than twenty years after the passage of Sarbanes-Oxley, which requires all public companies to invest in measures to ens...

Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insider's story of macroeconomic policy. Focusing on the most significant developments and long-term changes, Alan Blinder traces the highs and lows of monetary and fiscal policy, which have cooperated and clashed through many recessions and se...

The paradox of poverty amidst plenty has plagued the United States throughout the 21st century--why should the wealthiest country in the world also have the highest rates of poverty among the industrialized nations? Based on his decades-long research and scholarship, one of the nation's leading authorities provides the answer. In The Poverty Paradox: Understanding Economic Hardship Amid American P...

Robert Charette, engineer, consultant, and contributing editor at IEEE Spectrum magazine, talks about his twelve-part series, “The Electric Vehicle Transition Explained,” with Peoples & Things host, Lee Vinsel. The series takes a systems perspective on electric vehicles, and talks about all of the potential barriers – from a lack of minerals, to stressing out the electricity grid, to being short o...

Katherine S. Newman and Elisabeth S Jacobs' book Moving the Needle: What Tight Labor Markets Do for the Poor (U California Press, 2023) is a timely investigation reveals how sustained tight labor markets improve the job prospects and life chances of America’s most vulnerable households. Most research on poverty focuses on the damage caused by persistent unemployment. But what happens when jobs are...

Robert L. Hetzel presented a paper at the Dallas Fed conference on February 9th, 2023 titled, “Does the Federal Open Market Committee Have a Viable Strategy for Controlling Inflation?” The Federal Open Market Committee or FOMC sets monetary policy for the United States with the objectives of price stability and full employment. In mid-2021, inflation began to rise, reaching its highest level in 40...

While central banks have gained remarkable influence over the past fifty years, promising more stability, global finance has gone from crisis to crisis. How do we explain this development? Drawing on original sources ignored in previous research, The Rise of Central Banks: State Power in Financial Capitalism (Harvard University Press, 2023) offers a groundbreaking account of the origins and conseq...

In 2010, Ping An took over Shenzhen Development Bank, ending an experiment that had never been tried before, and not been tried since: a foreign company owning and managing a Chinese bank. Newbridge Capital, a private equity firm, shocked the financial world when it agreed to take over the bank five years earlier–and successfully made it a pioneer. Weijian Shan, then a partner in Newbridge Capital...

If you have ever gotten excited over buying a new object only to feel let down once you acquire it, then today’s discussion will be relevant to you. My guest is Todd McGowan, author of the book Capitalism and Desire: The Psychic Cost of Free Markets (2016, Columbia University Press). We discuss his critique of capitalism as a system that encourages us to forever chase satisfactions that never come...

If your genes make you better suited to succeed, is that fair? And if not, can anything be done about it? Kathryn Paige Harden – professor psychology at University of Texas in Austin – tells Owen Bennett Jones that we should acknowledge the difference in our genetic make ups and then set about thinking about how to make a fairer society in the light of this differences. Harden is the author of The...

Over the past three decades, digital technologies like smartphones and laptops have transformed the way we work in the US. At the same time, workers at both ends of the income ladder have experienced rising levels of job insecurity and anxiety about their economic futures. In Left to Our Own Devices: Coping with Insecure Work in a Digital Age (Oxford UP, 2022), Julia Ticona explores the ways that...

Having lived through both China’s Great Leap Forward during primary school, then the Cultural Revolution and the closing of schools for ten years, Beijing-born Weijian Shan, instead of a secondary school education spent six hard years in the Gobi Desert with the Army Construction Corps. Remarkably, the young Shan made it to a PhD program at UC Berkeley where he met his academic advisor, then Profe...

Political Scientist Hernán Flom has written a fascinating and nuanced analysis of how the criminal drug markets operate in Argentina and Brazil. Instead of tracking the path that illegal drugs take or examining how the criminal justice system works in Latin American countries, Flom has focused, instead, on the illegal drug markets as economic and political institutions to examine how they actually...

Algorithms and apps analyze data and tell you how to beat the traffic, what books to buy, what music to listen to, and even who to date—often with great results. But what do you do when you face the big decisions of life—the "wild problems" of who to marry, whether to have children, where to move, how to forge a life well-lived—that can’t be solved by measurement or calculation? In Wild Problems:...

Like other global frontiers, the Cambodia-Vietnam borderlands are a hotspot for migration, land claims, and markets for newly introduced commodities. These topics and more are the focus of Sango Mahanty’s recent book, Unsettled Frontiers: Market Formation in the Cambodia-Vietnam Borderlands (Cornell University Press, 2022). The book argues that frontier agricultural markets emerge from diverse com...

Violent conflict and its aftermath are pressing problems, particularly for international development initiatives. However, the results of development in conflict contexts have generally been disappointing and their preventative potential thus questionable. Lives Amid Violence: Transforming Development in the Wake of Conflict (Bloomsbury, 2023) by Dr. Mareike Schomerus argues that this is because p...

During the first months of the pandemic, governments worldwide agreed that ‘following the science’ with hard lockdowns and vaccine mandates was the best way to preserve life. But evidence is mounting that ‘the science’ was all politics and time reveals the horrific human and economic cost of these policies. The Covid Consensus: The Global Assault on Democracy and the Poor—A Critique from the Left ...

In this episode, we discuss Arve Hansen’s new book Consumption and Vietnam’s New Middle Classes: Societal Transformations and Everyday Life (Springer, 2022). In this book, Hansen studies the dramatic changes in consumption patterns in Vietnam over the past decades, focusing on how everyday life changes in the context of rapid economic development and capitalist transformations. How does a consumer...

Fear pervades dictatorial regimes. Citizens fear leaders, the regime's agents fear superiors, and leaders fear the masses. The ubiquity of fear in such regimes gives rise to the "dictator's dilemma," where autocrats do not know the level of opposition they face and cannot effectively neutralize domestic threats to their rule. The dilemma has led scholars to believe that autocracies are likely to b...

In this episode of High Theory, Eli Cook tells us about choice architecture. The term was invented by behavioral economists in 2008 who proposed it as a soft-power model of “libertarian paternalism” to influence consumer choice. Eli traces their concept through a twentieth-century history of structured choices, from personality tests and the five-star rating to the swipes and likes of platform cap...

The term "Silk Road" evokes images of trade and exotic luxurious goods and Orientalist images. Today, however, it also is associated with the projection of Chinese power abroad. And as that pairing suggests, the term "Silk Road" in fact has many meanings as Professor Tim Winter has been explaining in his book The Silk Road: Connecting Histories and Futures (Oxford University Press, 2022). Listen t...