New Books in Economics

Who gets in to top professions? In The Class Ceiling: Why it pays to be privileged (Policy Press, 2019), Drs Sam Friedman, an associate professor of sociology at LSE, and Daniel Laurison, an assistant professor of sociology at Swarthmore College, explore the dominance of social elites in top professions. The book draws on theories of social mobility and the work of Pierre Bourdieu to explain how t...

Recent economic crises have made the centrality of debt, and the instability it creates, increasingly apparent. In Beyond Debt: Islamic Experiments in Global Finance (University of Chicago Press, 2018), anthropologist Daromir Rudnyckyj illustrates how the Malaysian state, led by the central bank, is seeking to make the country’s capital Kuala Lumpur the central node of global financial activity co...

I spoke with Professor Rodrigo Zeidan of New York University, Shanghai. He has just published Economics of Global Business (MIT Press, 2018), a great book with innovative real-world macroeconomic analyses of timely policy issues, with case studies and examples from more than fifty countries. The book is particularly suitable for use as an introduction to macroeconomics for business students. If yo...

Lumbering late Tsarist Russia and international finance? Is there anything there?  The Bolsheviks and finance? How can there be anything there?   It turns out that the answer to both questions is yes.  In Dr. Hassan Malik's meticulously researched new book, Bankers and Bolsheviks: International Finance and the Russian Revolution (Princeton University Press, 2018), the Tsarist government's relation...

At a time when trade between China and the outside world is rarely out of the news, it remains important to remember that in centuries past global commerce moved in directions very different from those which dominate the present. This was especially evident during the nineteenth and twentieth centuries when Western countries and Japan employed a mix of coercive and collaborative mechanisms to fois...

Alessandro Arduino and Xue Gong’s Securing the Belt and Road, Risk Assessment, Private Security and Special Insurances Along the New Wave of Chinese Outbound Investments (Red Globe Press, 2018) significantly contributes to an understanding not only of China’s ambitious infrastructure and energy driven Belt and Road Initiative, but also the increasing challenges it poses for China itself.  The mult...

You mean accounting has a history?  Yes, it does, and it should matter to you, because the accounting profession, and the audit function that it serves, affects all the companies in your 401(k) program.  Remember WorldCom, remember Enron? Every time a large holding of yours writes off the goodwill from a failed acquisition--there are too many examples to recite here--you've just had an accounting...

The story of Bretton Woods has been told by countless historians. We have a good sense of the wartime context, the negotiations themselves, the roles of many of the main actors (especially Great Britain and the United States), and the conference’s meaning for postwar global history. What can another book possibly tell us? Lots, actually. In his new book Forgotten Foundations: International Develop...

We spoke with the author Aleksandr V. Gevorkyan. His book Transition Economies: Transformation, Development, and Society in Eastern Europe and the Former Soviet Union (Routledge, 2018) is a very interesting contribution to the understanding of Soviet economies and their transition, or transformation, as Aleksandr argues. In his book he also discusses the aspect of human transition. I started our c...

McKenzie Wark’s new book offers 21 focused studies of thinkers working in a wide range of fields who are worth your attention. The chapters of General Intellects: Twenty-One Thinkers for the Twenty-First Century (Verso, 2017) introduce readers to important work in Anglophone cultural studies, psychoanalysis, political theory, media theory, speculative realism, science studies, Italian and French w...

Few who have visited India in the past two decades will have failed to noticed the sudden and spectacular urban transformation that has taken place in many of its cities. Gated residential complexes with tennis courts and indoor gyms, glitzy office buildings, gleaming five-star hotels, and of course air-conditioned malls have become ubiquitous as the new face of a “new” India, often understood as...

Is microfinance the magic bullet that will end global poverty or is it yet another a form of predatory lending to the poor? In her new book Financializing Poverty: Labor and Risk in Indian Microfinance (Stanford University Press, 2018), Sohini Kar brings ethnography to bear on this urgent question. Drawing on fieldwork with a for-profit microfinance institution (MFI) and its intended beneficiaries...

In Patent Politics: Life Forms, Markets, and the Public Interest in the United States and Europe (University of Chicago Press, 2017), Shobita Parthasarathy takes us through a thirty year history of the legal debates around patents. This is an understudied area of STS that Parthasarathy carefully navigates in order to understand how knowledge production interacts with law. The reader learns the dif...

Why is housing so expensive in so many cities, and what can be done about it? Join us as we speak with long-time San Francisco housing activist Randy Shaw about his book Generation Priced Out: Who Gets to Live in the New Urban America? (University of California Press, 2018). In it, he lays out the causes and consequences of the affordability crisis in San Francisco, Oakland, LA, Austin, New York,...

Pretty much everyone knows that the American healthcare system is, well, very inefficient. We don’t, so critics say, get as much healthcare bang for our buck as we should. According to Bryan Caplan, however, the American educational system–higher education in particular–is much, much worse. In The Case against Education: Why the Education System Is a Waste of Time and Money (Princeton University P...

In the era of #MeToo, Brett Kavanaugh, and Donald Trump, masculinity and the harmful effects that follow certain versions of masculinity have become national conversations. Now, like many other times throughout American history, people are asking “what’s wrong with men?” Some men, however, are not widely talked about. In his new book Man Out: Men on the Sidelines of American Life (Brookings Instit...

The vast chasm between classical economics and the humanities is widely known and accepted. They are profoundly different disciplines with little to say to one another. Such is the accepted wisdom. Fortunately, Professors Gary Saul Morson and Morton Schapiro, both of Northwestern University, disagree.  In their new book, Cents and Sensibility: What Economics Can Learn from the Humanities (Princeto...

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...

When we hear about the “future of work” today we tend to think about different forms of automation and artificial intelligence—technological innovations that will make some jobs easier and others obsolete while (hopefully) creating new ones we cannot yet foresee, and never could have. But perhaps this future isn’t so incomprehensible. Perhaps it’s here already, right in front of our faces, at the...

Today we talked with Ching Kwan Lee, professor of sociology at the University of California, Los Angeles.  She has just published The Specter of Global China: Politics, Labor, and Foreign Investment in Africa (University of Chicago Press, 2018), an amazing new book based on her field study in Africa where she investigated the Chinese investments. The book is extremely interesting for its methodolo...

Earlier this year, we heard from Suzanne Mettler and her book on the politics of policies hidden from view. Mettler explained that most Americans are benefiting from numerous public policies, but often fail to notice it because participation is hidden in the tax code. This leads to a disconnect between many citizens and the government. This week, we return to similar terrain, with an excellent new...

Today we spoke with with Dirk H. Ehnts to talk about his new book Modern Monetary Theory and European Macroeconomics (Routledge, 2017). This is a very accessible text for those interested in discovering how monetary policy works and those interested in approaching the debate on the challenges of the Euro area. We talked about the notions of endogenous and exogenous money and how central banks and...

If you are tired of reading the same, Washington-based, consensus, ‘realist’ and or ‘neo-conservative’, critiques of American foreign policy, here is something to salivate on: Jeffrey D. Sachs’, A New Foreign Policy: Beyond American Exceptionalism (Columbia University Press, 2018). By turns, noted author Jeffrey Sachs’ book is unorthodox, iconoclastic, novel and indeed at times eccentric. A New Fo...

In his new book, The Fourth Age: Smart Robots, Conscious Computers, and the Future of Humanity (Simon & Schuster, 2018), futurist, technologist, and CEO of Gigaom, Byron Reese makes the case that technology has reshaped humanity just three times in history: 100,000 years ago, we harnessed fire, which led to language; 10,000 years ago, we developed agriculture, which led to cities and warfare; and...

The 1973 oil crisis was an event of world-historic proportions, but the stories we tell about it often center the Global North. For instance, the first images that probably come to mind are of the long gas-station queues of Americans in their cars waiting to fill up at the height of the oil shortage. Christopher Dietrich, in his new book, Oil Revolution: Anticolonial Elites, Sovereign Rights, and...