New Books in Economics

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...

In the space of a few weeks this spring, organizations around the world learned that many traditional, in-person jobs could, in fact, be performed remotely. Before the COVID-19 pandemic, however, some individuals were already utilizing new options for personal mobility and online work to strike out on their own. In the new book, Digital Nomads: In Search of Freedom, Community, and Meaningful Work...

Twenty-eight years after Francis Fukuyama declared the “end of history” and pronounced Western-style liberalism as the culmination of a Hegelian narrative of progress, pundits and academics of all stripes find themselves struggling to explain the failed prediction that China’s increased activity in international markets would inevitably lead to increasing political and social liberalization in tha...

The Idea of Development in Africa: A History (Cambridge UP, 2020) challenges prevailing international development discourses about the continent, by tracing the history of ideas, practices, and 'problems' of development used in Africa. In doing so, it offers an innovative approach to examining the history and culture of development through the lens of the development episteme, which has been found...

Reinventing Bankruptcy Law: A History of the Companies’ Creditors Arrangement Act (University of Toronto Press, 2020) explodes conventional wisdom about the history of the Companies’ Creditors Arrangement Act and in its place offers the first historical account of Canada’s premier corporate restructuring statute. The book adopts a novel research approach that combines legal history, socio-legal th...

Money Games: The Inside Story of How American Dealmakers Saved Korea’s Most Iconic Bank (Wiley, 2020) by Weijian Shan’s, is a riveting tale of one of the most successful buyout deals ever: the acquisition and turnaround of what used to be Korea’s largest bank by the American firm Newbridge Capital. Full of intrigue and suspense, this insider's account is told by the chief architect of the deal its...

In the wake of the 2008-09 financial crisis, Adam Fergusson's When Money Dies: The Nightmare of the Weimar Hyperinflation became an unlikely publishing hit more than three decades after its release. Yet, even though few people knew the details of the 1923 crisis, stories and images from interbellum Germany are things of legend. The same cannot be said of the many other hyperinflationary episodes i...

With the coronavirus pandemic, Modern Monetary Theory met its moment. A sudden and massive loss of output globally was met with an unprecedented response by governments and central banks and at least some official regret about excessive fiscal austerity after the 2008-09 crisis. Stephanie Kelton's The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy found a ready audience...

Adam Fabry's book The Political Economy of Hungary: From State Capitalism to Authoritarian Neoliberalism (Palgrave, 2019) explores the political economy of Hungary from the mid-1970s to the present. Widely considered a 'poster boy' of neoliberal transformation in post-communist Eastern Europe until the mid-2000s, Hungary has in recent years developed into a model 'illiberal' regime. Constitutional...

In the several decades since scholars in the humanities have taken up computational tools, they have borrowed many techniques from other fields, including visualization methods to create charts, graphs, diagrams, maps, and other graphic displays of information. But are these visualizations actually adequate for the interpretive approach that distinguishes much of the work in the humanities? Inform...

Animal Trade Histories in the Indian Ocean World (Palgrave MacMillan, 2020), edited by Martha Chaiklin, Philip Gooding, and Gwyn Campbell, examines trades in animals and animal products in the history of the Indian Ocean World (IOW). An international array of established and emerging scholars investigate how the roles of equines, ungulates, sub-ungulates, mollusks, and avians expand our understand...

In International Aid and Democracy Promotion: Liberalization at the Margins (Routledge, 2020), Political Scientist Bann Seng Tan investigates the link between foreign aid and the promotion of democracy, using theory, statistical tests, and illustrative case studies. The book challenges the field of development to recognise that democracy promotion is unlike other development goals. With a goal lik...

Every day, TARGET - Europe's cross-border payments system - processes transactions worth €2.5 trillion. Under its decentralised model, TARGET generates balances between the national central banks. These were tiny at its creation but today – after a decade spanning the financial crisis, the sovereign-debt crisis and now the pandemic recession – Germany’s TARGET balance exceeds €1 trillion. In his T...

Paul Donovan's Profit and Prejudice: The Luddites of the Fourth Industrial Revolution (Routledge, 2020) is a great example of what Robert Shiller has championed as narrative economics--pointing out the power and real-world economic import of stories, of narratives. In this case, Donovan highlights the cost of prejudice and how it will become even more expensive as we enter the fourth industrial re...

Consumers may love their products and services but, among politicians and activists, the big-technology companies are fast developing a reputation as the Robber Barons of the 21st century. Google recently joined Apple, Amazon and Microsoft as a so-called “tera-cap” – companies valued at more than a trillion dollars. Add Facebook and the five tech giants alone account for a quarter of the S&P500. H...

Parrots and snakes, wild cats and monkeys---exotic pets can now be found everywhere from skyscraper apartments and fenced suburban backyards to roadside petting zoos. In Animal Traffic: Lively Capital in the Global Exotic Pet Trade (Duke UP, 2020) Rosemary-Claire Collard investigates the multibillion-dollar global exotic pet trade and the largely hidden processes through which exotic pets are prod...

In her new book Engaged: Designing for Behavior Change (Rosenfeld Media, 2020), Amy Bucher analyzes both the barriers and levers to achieving behavioral change. Among the barriers are cognitive biases, like a Status Quo Bias, as well as growing both emotionally and mentally exhausted by changes that require too much willpower on behalf of the user. Opportunities to promote change include having ac...

Most of our discussions about how “technology will change the world” focus on the global cities that drive the world economy. Even when we talk about China, we focus on its major cities: Beijing, Shanghai and Shenzhen.  Xiaowei Wang corrects this metronormativity in their recent book Blockchain Chicken Farm: And Other Stories of Tech in China's Countryside (FSG Originals: 2020), which explores how...

Stop Solving the Wrong Problem! In this episode we discuss Thomas Wedell-Wedellsborg's book What's Your Problem?: To Solve Your Toughest Problems, Change the Problems You Solve (HBR Press, 2020) and focus on hisRapid Reframing Method for solving in particular people-related problems. Specific topics include: how emotions can either facilitate or hinder the challenging of established mental models,...

Dr. Graciela Chichilnisky’s new book Reversing Climate Change: How Carbon Removals Can Resolve Climate Change and Fix the Economy is perhaps the single best thing I have read about climate in recent years. Published by World Scientific Press, the book lays out the history of how we came to be in the emergency we are in now, what we have tried before, and how we can get out. During her long academi...

As the COVID-19 pandemic took hold in March, a self-isolating and easily distracted economist resolved to take himself in hand. "I decided I would do what I was good at: I would write a book" about the complex interplay between epidemiology and economics and the policy dilemmas it poses. By June, Joshua Gans had published Economics in the Age of COVID-19 and, within days, he had started work on th...

We've heard and rehearsed the conventional wisdom about oil: that the U.S. military presence in the Persian Gulf is what guarantees access to this strategic resource; that the "special" relationship with Saudi Arabia is necessary to stabilize an otherwise volatile market; and that these assumptions in turn provide Washington enormous leverage over Europe and Asia. That common sense is wrong. The a...

“The key element shaping inequality is no longer the employment relationship but rather whether one is able to buy assets that appreciate at a faster rate than both inflation and wages”. So argue Lisa Adkins, Martijn Konings and Melinda Cooper in The Asset Economy (Polity Press, 2020), extending the argument in Thomas Piketty’s 2014 best-seller Capital in the Twenty-First Century. Inheritance, the...

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...

Are robots going to be our overlords? In Human Work in the Age of Smart Machines (RosettaBooks, 2020), Jamie Merisotis says they don't have to be. We can make them our friends. Jamie Merisotis is a globally recognized leader in philanthropy, education, and public policy. Since 2008, he’s served as president and CEO of Lumina Foundation, an independent, private foundation committed to making opport...