New Books in Economics

Peoples & Things host, Lee Vinsel, talks to Jessica Smith, Professor in the Engineering, Design, and Society Department and Dean’s Fellow for Earth and Society Programs of the Colorado School of Mines, about her work on engineering and public accountability in energy and mining industries. The pair discuss Smith’s long-held interests in mining and extractive industries, including her roots in coal country; her book, Extracting Accountability: Engineers and Corporate Social Responsibility (MIT Press, 2021); her current work on the social and community dimensions of carbon sequestration projects; and many asides about what it takes to study the social dimensions of engineering, including in humanities and social sciences cultures that contain many negative stereotypes of engineers.

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More than any one institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed’s philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors.

In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation.

This eighth and final episode covers the life and times of the current chair, Jerome ("Jay") Powell - the technocratic lawyer-turned-banker who managed the global economy through two unprecedented disasters: the Covid pandemic and Donald Trump’s protectionist trade policies. As the episodes about Martin, Burns, and Volcker all attest, Powell isn't the first chairman to face political blowback. But he is the first to be publicly denounced as “Mr Too Late” and a “major loser” by a president intent on removing him from office before his term ends in mid-2026.

To discuss Powell, Tim is joined by Nick Timiraos, author of Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic and Prevented Economic Disaster (Little, Brown, 2022).

“If people think you're not going to act in the country's best interest, that's bad for the Fed,” he says. “The next time the Fed decides it needs to do something that actually is ‘exigent and unusual’, people will say: ‘Well, wait a minute, the last time you did this, we thought you were a toady for the Democrats or a toady for the Republicans. We don't think you're a straight shooter. We're not going to let you raise interest rates by 25 basis points. We're not going to give you money to backstop your purchases of corporate credit’. Those are the kind of medium and long term risks from a fight with the White House. I think, for Powell, the worst outcome is that people don't think you have an independent central bank anymore. Your monetary policy won't be credible. Why not just roll that thing into the Treasury Department if that's what you're going to do?”

Since 2017, Nick Timiraos has been the chief economics correspondent at The Wall Street Journal and has developed an unrivalled reputation as the "Fed whisperer".

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More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed’s philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors.

In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation.

The third episode of the second series covers Janet Yellen – not only the first woman to become Fed Chair but the first person of either sex to lead the Fed, the Treasury, and the Council of Economic Advisors. To discuss Ben Bernanke’s successor, Tim is joined by Jon Hilsenrath, author of Yellen: The Trailblazing Economist Who Navigated an Era of Upheaval (Harper Collins, 2022).

“Bernanke was a consensus builder,” says Hilsenrath. “He wasn't the kind of guy who was going to push people on a personal level out of their comfort zones … Yellen was a bit of a bulldog there, but she was also a bulldog with the Fed staff. I mean, she had a view that the world was on fire and that they, you know, and that they had to be moving like people putting out a fire”.

In 2023, Hilsenrath left the Wall Street Journal after a 26-year career during which he developed a market reputation as a pre-eminent Fed-watcher. He’s still watching the Fed but now for his own advisory firm.

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More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed’s philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors.

In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation.

Episode two of the second series covers the life and crisis-era times of Ben Bernanke, the man who filled Alan Greenspan’s big shoes and ran the Fed from 2006 to 2014. A shy but world-renowned monetary economist and historian of the Great Depression, Bernanke was left holding the proverbial bomb when the financial system came close to collapse in 2008. To discuss Bernanke, Tim is joined by David Wessel, author of In FED We Trust: Ben Bernanke's War on the Great Panic (Crown, 2010).

“It wasn't obvious when he was appointed to the Fed in 2006 that having somebody who had spent their life studying the Great Depression would be well equipped to be Alan Greenspan's successor,” says Wessel. “I have sometimes said it was a like being a paleontologist. It's very nice that you know a lot about dinosaurs, but what use is that to us today until one day a Stegosaurus appears on the horizon. And it was remarkable good fortune for the country and the world that there was a guy who happened to have studied all the mistakes that the Fed made in the 1920s and the 1930s in a position to do something about it when a situation, not all that dissimilar, appears both to his surprise and to almost everybody else's”.

Wessel is two-time Pulitzer Prize winning journalist who now runs the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution. For 30 years, he worked at the Wall Street Journal - reporting mostly from Washington and covering economics and the Fed.

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With significant evolutions in digital technologies and media distribution in the past two decades, the business of storytelling through screens has shifted dramatically. In the past, blockbuster movies and TV shows like Friends aimed first for domestic mass audiences, although the biggest hits circulated globally. Now, transnational distribution plays a primary role and imagined audiences are global. At the same time, the once-mass audience has significantly fragmented to enable an expansion in the range of commercially viable stories, as evident in series as varied as Atlanta, Better Things, and dozens of others that are not widely known, but deeply loved by their microaudiences.

Delving into the changing landscape of commercial screen storytelling, After Mass Media: Storytelling for Microaudiences in the Twenty-First Century (NYU Press, 2025) explores how industrial shifts and technological advancements have remade the narrative landscape over the past two decades. Television and movies have long shaped society, whether by telling us about the worlds around us or far away. By examining the internationalization of screen businesses, the rise of streaming services with multi-territory reach, and the stories made for this environment, this book sheds light on the profound transformations in television and film production and circulation. With a keen focus on major changes in the types of screen stories being told, Amanda D. Lotz unravels the industrial roots that made these transformations possible, challenges some conventional distinctions of screen storytelling, and provides new conceptual tools to make sense of the abundance and range of screen stories on offer.

Through its comprehensive analysis, After Mass Media exposes how contemporary industrial dynamics, particularly the erosion of traditional distribution models based on geography and mass audience reach, have far-reaching implications for our understanding of national video cultures.

Peter C. Kunze is an assistant professor of communication at Tulane University.

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More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed’s philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors.

In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation.

The first episode of the second series explores Alan Greenspan, the chairman who followed Paul Volcker and ran the Fed from 1987 until 2006. Once bestowed with “Maestro” status, Greenspan – who turns 100 in March 2026 – has seen his reputation deflate in the wake of the post-2008 financial crisis. To discuss the fallen Maestro, Tim is joined by Sebastian Mallaby, author of The Man Who Knew: The Life and Times of Alan Greenspan (Bloomsbury, 2016).

“Greenspan was the man who knew,” says Mallaby. “He was the man who knew that bubbles were extremely destructive, and yet he was not the man who acted against those bubbles. So, whilst he was great on inflation and on stabilising the price of eggs, he was not good on asset-price inflation or stabilising the price of nest eggs”.

A former journalist at The Economist and the Washington Post, Mallaby is the prize-winning author of The World's Banker – a portrait of the World Bank under James Wolfensohn – and More Money Than God: Hedge Funds and the Making of a New Elite. He is now the Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations.

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One of the most distinctive aspects of global capitalism in the last half century or so has been the increased role of the financial sector in the global economy, especially in the advanced industrial economies of the Global North. The profitability and market capitalization of firms in the financial sector have increased immensely, firms that originated in the real economy have diversified into financial activities, cross-border financial flows have limited the policy autonomy of national governments, and the value of financial assets has driven increasing global inequality. How did the financial sector come to occupy such an important position in the global economy?

My guest today, the political economist Jack Copley, addresses this question by going back to the archives to investigate why the British government implemented key reforms associated with financial liberalization during the 1970s and 1980s. In Governing Financialization: The Tangled Politics of Financial Liberalization in Britain (Oxford UP, 2022), he shows that financialization did not result from some grand ideologically-driven policy agenda, nor did it result from the actions of far-sighted omnipotent state managers automatically adjusting the course of the British economy in the face of increased manufacturing competition. Rather, he argues that financial liberalization in the UK resulted from policymakers attempting to muddle through from one crisis to the next by balancing competing imperatives to enhance the country’s competitive position in the global economy while maintaining social and political order domestically. Short-term efforts to put out economic fires drove financial liberalization, rather than grand ideological designs or automatic adjustment to changing circumstances.

Jack Copley is an assistant professor in international political economy at Durham University in the UK.

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In this episode, Maliha Safri, Marianna Pavlovskaya, Stephen Healy, and Craig Borowiak talk about their new co-authored book Solidarity Cities: Confronting Racial Capitalism, Mapping Transformation (University of Minnesota Press, 2024). This volume is part of the Diverse Economies and Livable Worlds series.

Solidarity economies, characterized by diverse practices of cooperation and mutual support, have long played pivotal but largely invisible roles in fostering shared survival and envisioning alternatives to racial capitalism globally and in the United States. This book maps the thriving existence of these cooperative networks in three differently sized American cities, highlighting their commitment to cooperation, democracy, and inclusion and demonstrating the desire—and the pressing need—to establish alternative foundations for social and economic justice. 

Collectively authored by four social scientists, Solidarity Cities analyzes the deeply entrenched racial and economic divides from which cooperative networks emerge as they work to provide unmet basic needs, including food security, affordable housing, access to fair credit, and employment opportunities. Examining entities such as community gardens, credit unions, cooperatives, and other forms of economic solidarity, the authors highlight how relatively small yet vital interventions into public life can expand into broader movements that help bolster the overall well-being of their surrounding communities. 

Bringing together insights from geography, political economy, and political science with mapping and spatial analysis methodologies, surveys, and in-depth interviews, Solidarity Cities illuminates the extensive footprints of solidarity economies and the roles they play in communities. The authors show how these initiatives act as bulwarks against gentrification, exploitation, and economic exclusion, helping readers see them as part of the past, present, and future of more livable and just cities. Retail e-book files for this title are screen-reader friendly with images accompanied by short alt text and/or extended descriptions.

This episode is hosted by Elena Sobrino. Elena is a lecturer in Anthropology at Tufts University. Her research explores volunteer work, union histories, and environmentalism in the Flint water crisis. She is currently writing about the politics of fatigue and crisis, and teaching classes on science and technology studies, ethnographies of crisis, and global racisms. You can read more about her work at elenasobrino.site.

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From the workings of financial markets to our response to the ecological crisis, economic theory shapes the world. But where do these ideas come from?

Ricardo’s Dream: How Economists Forgot the Real World and Led Us Astray (Bristol University Press, 2024) tells the fascinating story of David Ricardo, Adam Smith’s only real rival as the ‘founder of economics’. The wealthiest stock trader of his day, Ricardo introduced the study of abstract models to economics. He also developed the theory of trade that underpinned globalization and hides, behind its mathematical facade, a history of power, empire, and slavery.

Brimming with fresh ideas and stories, Ricardo’s Dream shows how too many economists, from Ricardo’s day to our own, have turned away from observing the real world and led us astray.

Nat Dyer is a writer and researcher specialising in global political economy. He is a Fellow of the Schumacher Institute and the Royal Society of Arts. He has worked for Global Witness and for Promoting Economic Pluralism and his stories have been reported on by the BBC, the New York Times and Bloomberg

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.

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Uncle Sam is watching, whether you like it or not. And the surveillance program the United States is building has as its foundation immigrants who have crossed the nation's southern border. In Data Borders: How Silicon Valley is Builidng an Industry Around Immigrants (University of California Press, 2023), UCLA information studies professor Melissa Villa-Nicholas deftly explains how private corporations such as Amazon and Palantir, government agencies including ICE and the CBP, and even public libraries all coordinate to track citizens and non-citizens alike. Mass amounts of data are networked to immigrants, who link people together like nodes on a map. A startlingly relevant book, Villa-Nicholas argues that stories we tell about data, and about human experiences, can either aid or act as a bulwark against this type of mass surveillance. The surveillance state is here, and it was born in the American West.

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Peoples & Things host, Lee Vinsel, talks with Lauren Bridges, Assistant Professor of Media Studies at the University of Virginia, about her work on the political, economic, and environmental politics of big data infrastructures. They focus on some of Bridges’ work on the disconnect between the promises made to localities around digital transformation and the realities of data center power demands and other material factors. They also discuss Bridges’ other projects, including “Geographies of Digital Wasting,” a global collaborative project, which Bridges was co-PI on, tracing the global flows and practices of digital wasting throughout the tech supply chain.

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The growing concern about global environmental change and human impacts on the planet has led to the emergence of a broad field of study on the 'sustainability' of human societies. The term's common usage can be traced back to the advent of the Earth Summit in 1992 when 'sustainable development' was broadly embraced by the international community as an ostensibly win-win proposition for economic development, social inclusion, and ecological conservation. Yet both the natural science underpinnings and the social implications of a quest for sustainability have been diffuse. There is a need for a coherent

Sustainability: A Very Short Introduction (Oxford UP, 2024) begins by introducing the concept of sustainability and how it has developed. The central chapters consider four key concepts crucial to sustainability: a) material and energy flows in consumption and production; b) technological interventions for a sustainable society; c) tipping points, and resilience in natural and social systems; and d) renewability and circularity in the economy. In the concluding chapter, Saleem H. Ali explores political means of managing anthropogenic change for a more sustainable society.

• Earthly Order by Saleem H. Ali
• Pursuing Sustainability: A Guide to the Science and Practice 
• National Sustainability Society
• Saleem's column in Forbes

Saleem H. Ali is Chair and Distinguished Professor of Geography at the University of Delaware.

Caleb Zakarin is editor at the New Books Network.

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Every year, hundreds of billions of dollars' worth of farm machinery, fertilizer, seeds, and pesticides are sold to farmers around the world. Although agricultural inputs are a huge sector of the global economy, the lion's share of that market is controlled by a relatively small number of very large transnational corporations. The high degree of concentration among these agribusiness titans is striking, considering that just a few hundred years ago agricultural inputs were not even marketed goods. In Titans of Industrial Agriculture: How a Few Giant Corporations Came to Dominate the Farm Sector and Why It Matters (MIT Press, 2025), Dr. Jennifer Clapp explains how we got from there to here, outlining the forces that enabled this extreme concentration of power and the entrenchment of industrial agriculture.

Clapp reveals that the firms that rose to the top of these sectors benefited from distinct market, technology, and policy advantages dating back a century or more that enabled them to expand their businesses through mergers and acquisitions that made them even bigger and more powerful. These dynamics matter because the firms at the top have long shaped industrial farming practices that, in turn, have generated enormous social, ecological, and health impacts on the planet and the future of food systems. Beyond analyzing how these problems have arisen and manifested, the book examines recent efforts to address corporate power and dominance in food systems and assesses the prospects for change.

Among the first works to examine deep roots of corporate power in agriculture, Titans of Industrial Agriculture helps illuminate just how corporate actors have encouraged the “lock-in” of industrial agriculture, despite all its known social and ecological costs.

This interview was conducted by Dr. Miranda Melcher whose book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. You can find Miranda’s interviews on New Books with Miranda Melcher, wherever you get your podcasts.

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Hosts Nina dos Santos and Owen Bennett-Jones analyze the global fallout after Donald Trump plunged America and the world into a trade war with China. David Rennie, The Economist’s geopolitics editor and former Beijing and Washington D.C. bureau chief, joins the podcast to unpack how Xi Jinping is playing the long game and playing to win.

In this episode, we explore Xi’s high-stakes strategy in the global trade war. 

From embracing economic pain to fostering innovation under autocracy, China is challenging Western dominance on every front. However, as the controversy over British Steel demonstrates, Beijing’s drive to exert control often at the expense of freedoms abroad—risks alienating future partners.

In the second half, activist Chloe Chung shares her personal story of falling afoul of the Chinese authorities. A pro-democracy campaigner, Chloe awoke in December to news that police in Hong Kong had issued a HK$1 million ($128,000; £102,000) bounty for information leading to her capture abroad.

With democracy under pressure, this is more than just a trade war—it’s a battle for the future of the global order.

Producer: Pearse Lynch

Executive Producer: Lucinda Knight

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In 2012, Steve Green, billionaire and president of the Hobby Lobby chain of craft stores, announced a recent purchase of a Biblical artefact—a fragment of papyrus, just discovered, carrying lines from Paul's letter to the Romans, and dated to the second century CE. Noted scholar Roberta Mazza was stunned. When was this piece discovered, and how could Green acquire such a rare item? The answers, which Mazza spent the next ten years uncovering, came as a shock: the fragment had come from a famous collection held at Oxford University, and its rightful owners had no idea it had been sold. The letter to the Romans was not the only extraordinary piece in the Green collection. They soon announced newly recovered fragments from the Gospels and writings of Sappho. Dr. Mazza's quest to confirm the provenance of these priceless fragments revealed shadowy global networks that make big business of ancient manuscripts, from the Greens' Museum of the Bible and world-famous auction houses like Sotheby's and Christie's, to antique shops in Jerusalem and Istanbul, dealers on eBay, and into the collections of renowned museums and universities.

Dr. Mazza's investigation informs her book, Stolen Fragments: Black Markets, Bad Faith, and the Illicit Trade in Ancient Artefacts (Redwood Press, 2024), and forces us to ask what happens when the supposed custodians of our ancient heritage act in ways that threaten to destroy it. Stolen Fragments illuminates how these recent dealings are not isolated events, but the inevitable result of longstanding colonial practices and the outcome of generations of scholars who have profited from extracting the cultural heritage of places they claim they wish to preserve. Where is the boundary between protection and exploitation, between scholarship and larceny?

Our guest is: Dr. Roberta Mazza, who is Associate Professor of Papyrology at the University of Bologna. She previously held positions at the University of Manchester, where she was honorary curator of the Manchester Museum, and at the University of California, Berkeley.

Our host is: Dr. Christina Gessler, who works as a developmental editor for scholars, and is the producer of the Academic Life podcast.

Playlist for listeners:

• A Conversation with Curators from the Smithsonian
• The House on Henry Street
• Archival Etiquette: What to know before you go
• Project Management for Researchers
• Where Research Begins
• The Museum of Failure

Welcome to Academic Life, the podcast for your academic journey—and beyond! You can support the show by downloading and sharing episodes. Join us to learn from experts inside and outside the academy, and around the world. Missed any of the 250+ Academic Life episodes? Find them here. And thank you for listening!

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The secret insights of economics, translated for the rest of us. Should I buy or rent? Do I ask for a promotion? Should I tell people I’m pregnant? What salary do I deserve? Should I just quit this job? Common anxieties about life are often grounded in economics. In an increasingly win-lose society, these economic decisions—where to work, where to live, even how to live—have a way of feeling fixed and mistakes terminal. Daryl Fairweather is no stranger to these dynamics. As the first Black woman to receive an economics PhD from the famed University of Chicago, she saw firsthand how concepts of behavioral economics and game theory were deployed in the real world—and in her own life—to great effect. 

Hate the Game: Economic Cheat Codes for Life, Love, and Work (U Chicago Press, 2025) combines Fairweather’s elite knowledge of these principles with her singular voice in describing how they can be harnessed. Her great talent, unique among economists, is her ability to articulate economic trends in a way that is not just informative, but also accounts for life’s other anxieties. In Hate the Game, Fairweather fixes her expertise and service on navigating the earliest economic inflection points of adult life: whether to go to college and for how long; partnering, having kids, both, or neither; getting, keeping, and changing jobs; and where to live and how to pay for it. She speaks in actionable terms about what the economy means for individual people, especially those who have the sneaking suspicion they’re losing out. Set against her own experiences and enriched with lessons from history, science, and pop culture, Fairweather instructs readers on how to use game theory and behavioral science to map out options and choose directions while offering readers a sense of control and agency in an economy where those things are increasingly rare.

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In Against the Crisis: Economy and Ecology in a Burning World (Verso, 2024), Ståle Holgersen develops a conceptualization of 'crisis' that moves beyond simplistic understandings of societal turbulence or even disaster, arguing that crises have come to mean something very specific. Where previous analyses have treated economic and ecological crises as separate phenomena, Holgersen reveals their profound interconnection within capitalism's contradictions. Central to the book is the idea that both economic and climate crises are crises of capitalism specifically, and the powers that be are not willing to acknowledge it.

 Holgersen delves into today’s economic and ecological crises to demonstrate that they are not exceptions to an otherwise functioning system but integral to its operation. It is naive to see these upheavals as opportunities for reform or revolution. They are the bedrock of the status quo. Fortunately, the vicious circle sustaining capitalism is not founded on an iron law. Our historical mission in the face of the climate crisis is to create a historical exception to the rule. It is time for ecosocialism against crisis.

About the Author: 

Ståle Holgersen is a Senior Lecturer in Human Geography at Stockholm University, Sweden. He is a member of two research collectives: the Zetkin Collective (ecosocialist group working on political ecologies of the far right) published White Skin, Black Fuel on Verso in 2021 and Fundament (a housing research collective) published Kris i Bostadsfrågan on Daidalos in 2023. This is his first monograph in English.

About the Host: 

Stuti Roy has recently graduated with an MPhil in Modern South Asian Studies from the University of Oxford. She has a BA in Political Science from the University of Toronto.

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John Kay's The Corporation in the 21st Century: Why (Almost) Everything We Are Told about Business Is Wrong (Yale UP, 2025) is an accessible and entertaining reappraisal of what business is for and how it works. 

Full of history and written in a compelling narrative style, this book describes a shift in the underlying assumptions of the relationship between capital & labor. Kay describes how and why we have come to "love the product" as we also "hate the producer". 

Kay discusses areas of particular change such as the relationship between business & finance, the concept of the "hollow" corporation, what we mean when we say "growth", and the motivations and standards of industry leaders. 

Old ideas of owning the means of production are redundant as workers are increasingly the means of production. Capital is now often a disconnected service contracted from a specialized supplier, and businesses are run by professional managers whose main skill is exerting authority.

Author recommended reading:

• Good Strategy, Bad Strategy by Richard Rumelt

Hosted by Meghan Cochran

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What explains the growing divide between elites and the broader public in democracies across Europe and the United States? In this episode of International Horizons, sociologist Wolfgang Streeck joins RBI director John Torpey to discuss the rise of populism, the limits of globalism, and the tensions between democracy and capitalism. 

Drawing from his recent book, Taking Back Control? States and State Systems After Globalism (Verso, 2024), Streeck examines how market forces, technocracy, and the erosion of national sovereignty have fueled discontent across the transatlantic world. He also reflects on the educational divide shaping political cleavages, the challenges posed by immigration, and the implications of U.S. foreign policy and security commitments in Europe and beyond. The conversation explores the shifting foundations of the postwar international order and the prospects for a more democratic and egalitarian global system.

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In this episode of International Horizons, Peter Andreas, John Hay Professor of International Studies at Brown University and author of Border Games: The Politics of Policing the U.S.-Mexico Divide, 3rd edition (Cornell UP, 2022) and The Illicit Global Economy (Oxford UP, 2025), joins RBI Director John Torpey to unpack the myths and realities of border control, illicit trade, and tariffs in the era of Trump. Why do Trump’s border policies resonate with so many despite lower deportation numbers than previous administrations? How are fentanyl, tariffs, and military threats shaping U.S. relations with Mexico and Canada? Andreas explains the performative politics of the border, the historical amnesia around immigration enforcement, and why the lines between legal and illegal economies are blurrier than we think.

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Peoples & Things host, Lee Vinsel, talks with retired professor, consultant, Discovery Institute fellow, and a winner of the NTT DoCoMo Mobile Science Award, Jeffrey Lee Funk, about his recent book Unicorns, Hype, and Bubbles: A Guide to Spotting, Avoiding, and Exploiting Investment Bubbles in Tech (Harriman House, 2024). The book provides readers with fundamental tools for exploring technology markets and spotting financial bubbles, which have been recurring at a high rate in recent decades. In addition to talking through the basic perspectives the book provides, Vinsel and Funk also talk through examples of recent technology bubbles, including the likely current bubble centered on generative AI.

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A riveting expose of the global oil industry' s multi-decade conspiracy to muddy the waters around the science of climate change and use the Australian government to undermine worldwide efforts to address environmental devastation. 

Researched and written by one of Australia' s most fearless investigative journalists, Slick: Australia's Toxic Relationship with Big Oil (U Queensland Press, 2024) reveals how the US petroleum industry was warned about its environmental impacts back in the 1950s and yet went on to build the Australian oil industry, which in turn tried to drill the Great Barrier Reef, sought to strongarm governments, and joined a global effort to bury the science of climate change and delay action despite knowing the harms it would cause. Slick also tells the stories of fire and flood survivors, as well as of the activists engaged in a high-risk fight for the future of Australia and of the efforts being made to save ourselves from catastrophe. In this superb, in-depth work of journalism, Royce Kurmelovs provides an on-the-ground examination of how the fossil fuel industry captured Australia, and outlines what' s at stake for the survival of the planet and our democracy.

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Religion in the twenty-first century is alive and well across the world, despite its apparent decline in North America and parts of Europe. Vigorous competition between and within religious movements has led to their accumulating great power and wealth. Religions in many traditions have honed their competitive strategies over thousands of years. Today, they are big business; like businesses, they must recruit, raise funds, disburse budgets, manage facilities, organize transportation, motivate employees, and get their message out.

In The Divine Economy (Princeton UP, 2024), economist Paul Seabright argues that religious movements are a special kind of business: they are platforms, bringing together communities of members who seek many different things from one another—spiritual fulfilment, friendship and marriage networks, even business opportunities. Their function as platforms, he contends, is what has allowed religions to consolidate and wield power.

This power can be used for good, especially when religious movements provide their members with insurance against the shocks of modern life, and a sense of worth in their communities. It can also be used for harm: political leaders often instrumentalize religious movements for authoritarian ends, and religious leaders can exploit the trust of members to inflict sexual, emotional, financial or physical abuse, or to provoke violence against outsiders. Writing in a nonpartisan spirit, Seabright uses insights from economics to show how religion and secular society can work together in a world where some people feel no need for religion, but many continue to respond with enthusiasm to its call.

Paul Seabright teaches economics at the Toulouse School of Economics, and until 2021 was director of the multidisciplinary Institute for Advanced Study in Toulouse. From 2021 to 2023, he was a Fellow of All Souls College at the University of Oxford. His books include The War of the Sexes: How Conflict and Cooperation Have Shaped Men and Women from Prehistory to the Present and The Company of Strangers: A Natural History of Economic Life (both Princeton).

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.

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China’s breathtaking economic development has been driven by bureaucrats. Even as the country transitioned away from socialist planning toward a market economy, the economic bureaucracy retained a striking degree of influence and control over crafting and implementing policy. Yet bureaucrats are often dismissed as faceless and inconsequential, their role neglected in favor of party leaders’ top-down rule or bottom-up initiatives.<

Markets with Bureaucratic Characteristics (Columbia UP, 2024) offers a new account of economic policy making in China over the past four decades that reveals how bureaucrats have spurred large-scale transformations from within. Yingyao Wang demonstrates how competition among bureaucrats motivated by careerism has led to the emergence of new policy approaches. Second-tier economic bureaucrats instituted distinctive―and often conflicting―“policy paradigms” aimed at securing their standing and rewriting China’s long-term development plans for their own benefit. Emerging from the middle levels of the bureaucracy, these policy paradigms ultimately reorganized the Chinese economy and reshaped state-market relations. Drawing on fine-grained biographical and interview data, Wang traces how officials coalesced around shared career trajectories, generational experiences, and social networks to create new alliances and rivalries. Shedding new light on the making and trajectory of China’s ambitious economic reforms, this book also provides keen sociological insight into the relations among bureaucracy, states, and markets.

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Economist Bryan Caplan has written—and artist Ady Branzei has illustrated—this new graphic novel about housing regulation (if ‘novel’ can be applied to an imaginative essay on a nonfiction topic), Build Baby Build: The Science and Ethics of Housing Regulation (Cato Institute, 2024). The thesis of the work is that regulation has driven up the cost of housing and ‘manufactured scarcity.’ Regulation is always well intentioned but often ill considered, as Caplan shows, and every benefit—‘free’ parking, zoning restrictions, environmental considerations—is provided by a hidden cost to the consumer and the tax-payer, disproportionately born by the poor (ironically the people they are supposed to be helping).

This conversation touched on other areas where free-market principles conflict with government interventions: bike lanes, environmental policy, immigration, and public education, especially at the taxpayer-supported university, a topic that Bryan Caplan discussed last time he was on the New Books Network, in his 2018 interview with Editor-in-Chief Marshall Poe when they discussed his earlier book, The Case Against Education.

Bryan Caplan is a professor of economics at George Mason University, a senior research fellow at the Mercatus Center, an adjunct scholar at the Cato Institute; his blog on Substack is called Bet on It.

Krzysztof Odyniec is a historian of Medieval and Early Modern Europe; his dissertation is a forthcoming book, published by Brepols: Dantiscus: Diplomat and Traveller in Sixteenth-Century Europe. He is a regular host on the New Books Network also the host of the 'Almost Good Catholics' podcast.

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The word Leader often brings to mind the heroic image of a charismatic, confident, and persuasive person who seems to "know" what to do in an instinctual, gut-driven way.  

In Decision Leadership: Empowering Others to Make Better Choices (Yale UP, 2022), Don A. Moore and Max H. Bazerman offer a well-researched and compelling corrective to this view. 

They describe organizations as decision factories in which effective leaders are not lone heroes, but decision architects who design situations and policies that enable those around them to make wise, ethical choices that are consistent both with their own interests and the organization's values. 

Built on a foundation of behavioral economics and decision science research, this book is full of real-life stories and concrete examples of the incentives, structures, and systems that can be used to guide negotiations and decision making. This approach avoids many of the common pit-falls of overconfidence and dependence on a few heroic figures, allowing strong leaders to have positive impact far beyond their limited individual range.  

Authors recommended reading: 

• Negotiation: The Game Has Changed by Max H. Bazerman
• Perfectly Confident: How to Calibrate Your Decisions Wisely by Don A. Moore

Also by these authors: 

• Judgment in Managerial Decision Making by Max H. Bazerman and Don A. Moore

Hosted by Meghan Cochran

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Canada is experiencing a housing shortage. Although house prices in major Canadian cities appeared to have topped out, new housing isn’t coming onto the market quickly enough. Higher interest rates have only tightened the pressure on buyers, and renters, too, as rising mortgage rates cost landlords more, which are passed along to tenants in rent increases. Even with recent federal budget commitments to bring more housing online by 2030, there will still be a shortfall of 3.5 million homes by then.

Gregor Craigie is a CBC journalist in Victoria, one of the highest-priced housing markets in the country. On his daily radio show On The Island he's been talking for over 17 years to local experts and to those across the country about housing. Craigie has travelled to many of the places he profiles in the book, and in his interviews with Canadians he presents the human face of the shortfall as he speaks with renters, owners and homeless people, exploring their varying predicaments and perspectives. He then shows, through comparable profiles of people across the globe, how other North American and international jurisdictions (Tokyo, Paris, Berlin, Helsinki, Singapore, Ireland, to name a few) are housing their citizens better, faster and with determination—solutions that could be put into practice here.

With passion, knowledge and vigour, Craigie explains how Canada reached this critical impasse and will convince those who may not yet recognize how badly our entire country is in need of change. Our Crumbling Foundation provides hope for finding our way out of the crisis by recommending a number of approaches at all levels of government. The prescription for how we’re going to house ourselves, and do so equitably, requires not just a business solution, nor simply a social solution, but rather a combination of both, working hand-in-hand with all levels of government, and quickly, in order to catch up with and outpace the needs of Canadians in this ever-intensifying crisis over a basic human right.

Gregor Craigie is the host of On The Island on CBC Radio One in Victoria. He is also the author of the nonfiction work On Borrowed Time: North America's Next Big Quake and the Radio Jet Lag.

Alex Hallbom is a Registered Professional Planner in British Columbia, Canada. He sits on the editorial board of Plan Canada, the professional publication for planners in Canada, and publishes periodically in Plan Canada and Planning West.

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Hundreds of thousands of Canadians exist on the edge. Renters fear eviction, homeowners feel trapped, and both are vulnerable to becoming homeless with a single stroke of misfortune. Unaffordable housing in Canada is tearing communities apart as long-time residents seek affordable housing elsewhere and businesses shutter because they cannot find staff who can afford to live nearby. For two generations, Canadians have watched affordable housing vanish while other nations have been tackling the problem.

In Home Truths: Fixing Canada's Housing Crisis (On Point Press, 2024), housing expert Carolyn Whitzman reviews the decades of policy that have gotten us into this mess and shows how all levels of government can work together to provide affordable housing where it is needed. Her compelling arguments for policy solutions are backed by ideas from researchers, planners, politicians, developers, and housing advocates at home and abroad.

Home Truths addresses Canada’s crisis from all sides, including exploring what adequate housing looks like, providing ideas on how to resolve homelessness, explaining why nonmarket housing is crucial for Canada, and showing how and why to tackle ever-growing wealth disparities between renters and those who own.

From policymakers, planners, developers, and observers needing to understand Canada’s housing struggles through to Canadians seeking ideas for a new way forward, Home Truths is a critical read for a nation on edge.

Carolyn Whitzman is a leading housing and senior policy researcher. She has authored, coauthored, or lead-edited six previous books, the most recent being Clara at the Door with a Revolver. She has undertaken research for the Office of the Federal Housing Advocate, the Canada Mortgage and Housing Corporation, the Alliance to End Homelessness Ottawa, and many other organizations.

Alex Hallbom is a Registered Professional Planner in British Columbia, Canada. He sits on the editorial board of Plan Canada, the professional publication for planners in Canada, and publishes periodically in Plan Canada and Planning West.

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On this episode, rural sociologist Dr. Irna Hofman explores how Tajikistan’s cotton fields illuminate shifting power dynamics in Central Asia, historically and in the present. She discusses how the Soviet Union once showcased cotton production to visiting delegations—particularly from Muslim-majority countries—as evidence of its development model. Now, as global powers, including Russia, China, and the EU, vie for influence in the region, cotton has again become a strategic commodity—used to forge political ties, secure resources, and drive infrastructure projects. Hofman highlights local communities’ active role in shaping these developments, emphasizing that rural landscapes are not simply backdrops for a “New Great Game,” but sites where broader geopolitical forces and grassroots agency intersect. Through her long-term fieldwork, she illustrates how Tajik farmers navigate and negotiate these overlapping external interests, and in doing so, reframe Central Asia’s future amidst geopolitical tensions.

Dr. Hofman specializes in agrarian and social change in Central Asia, where she has worked since 2012. She completed post-doctoral research at Oxford's Faculty of Asian and Middle Eastern Studies as part of an ERC-funded project "China, law and development." In 2019, she obtained her Ph.D. from Leiden University in the Netherlands with a dissertation focused on the political economy of agrarian transformation in Tajikistan: "Cotton, control, and continuity in disguise: The political economy of agrarian transformation in lowland Tajikistan." Her research interests span political economy, political ecology, and political sociology. In recent years, she has focused on rural labour, gender, and commodity politics. Dr. Hofman is completing a monograph based on her dissertation and post-doctoral research projects. Her research agenda for the coming years centers on the rural everyday of geopolitics, focusing on China's growing assertiveness in the global agrifood regime, shifting geographies of production, and rural labour.

Dr Irna Hofman | School of Geography and the Environment | University of Oxford

@irnahofman

Resources:

• Hofman, I. (2024) Seeds of empire or seeds of friendship? The politics of the diffusion of Chinese crop seeds in Tajikistan. Journal of Agrarian Change, 24(2): e12581.
• Hofman, I. (2022) Tajikistan. The people's map of global China
• Hofman, I. (2021) Migration, crop diversification, and adverse incorporation: Understanding the repertoire of contention in rural Tajikistan. Canadian Journal of Development Studies, 42(4): 499-518.
• Hofman, I. (2021). Chinese cotton diplomacy in Tajikistan: greasing the ties by reviving the cotton economy. Research Brief.
• Hofman, I. (2018). Politics or profits along the “Silk Road”: What drives Chinese farms in Tajikistan and helps them thrive? In The Geoeconomics and Geopolitics of Chinese Development and Investment in Asia, pp. 183-208. Routledge.

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The Library of Mistakes is a library located in Edinburgh, Scotland dedicated to financial and economic history. Russell Napier, the founder and keeper of the library is a professor at The Edinburgh Business School and investment manager. In this wide-ranging discussion, Russell discusses his work as a practitioner and a scholar of financial crises. He also discusses how and why he started a library, in addition to his writing on financial history.

Professor Russell Napier is the author of The Solid Ground investment report for institutional investors and co-founder of the investment research portal ERIC- a business he now co-owns with D.C. Thomson.

Caleb Zakarin is editor of the New Books Network.

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Why has the United Kingdom, historically one of the strongest democracies in the world, become so unstable? What changed? Late Soviet Britain: Why Materialist Utopias Fail (Cambridge UP, 2023) demonstrates that a major part of the answer lies in the transformation of its state. It shows how Britain championed radical economic liberalisation only to weaken and ultimately break its own governing institutions. The crisis of democracy in rich countries has brought forward many urgent analyses of neoliberal capitalism. This book explores for the first time how the 'governing science' in Leninist and neoliberal revolutions fails for many of the same reasons. These systems may have been utterly opposed in their political values, but Abby Innes argues that when we grasp the kinship in their closed-system forms of economic reasoning and their strategies for government, we may better understand the causes of state failure in what remains an inescapably open-system reality.

Abby Innes is Associate Professor of Political Economy in the European Institute at the LSE.

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.

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Digital technologies have changed how we shop, work, play, and communicate, reshaping our societies and economies. To understand digital capitalism, we need to grasp how advances in geospatial technologies underpin the construction, operation, and refinement of markets for digital goods and services. 

In The Map in the Machine: Charting the Spatial Architecture of Digital Capitalism (U California Press, 2024), Luis F. Alvarez Leon examines these advances, from MapQuest and Google Maps to the rise of IP geolocation, ridesharing, and a new Earth Observation satellite ecosystem. He develops a geographical theory of digital capitalism centered on the processes of location, valuation, and marketization to provide a new vantage point from which to better understand, and intervene in, the dominant techno-economic paradigm of our time. By centering the spatiality of digital capitalism, Alvarez Leon shows how this system is the product not of seemingly intangible information clouds but rather of a vast array of technologies, practices, and infrastructures deeply rooted in place, mediated by geography, and open to contestation and change.

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Critics on the Left have long attacked open markets and free trade agreements for exploiting the poor and undermining labor, while those on the Right complain that they unjustly penalize workers back home. In Open: The Progressive Case for Free Trade, Immigration, and Global Capital (Harvard University Press, 2019), Kimberly Clausing takes on old and new skeptics in her compelling case that open economies are actually a force for good. Turning to the data to separate substance from spin, she shows how international trade makes countries richer, raises living standards, benefits consumers, and brings nations together. At a time when borders are closing and the safety of global supply chains is being thrown into question, she outlines a clear agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy and establish a better partnership between labor and the business community.

Kimberly Clausing holds the Eric M. Zolt Chair in Tax Law and Policy at the UCLA School of Law. During the first part of the Biden Administration, Clausing was the Deputy Assistant Secretary for Tax Analysis in the US Department of the Treasury, serving as the lead economist in the Office of Tax Policy. Prior to coming to UCLA, Clausing was the Thormund A. Miller and Walter Mintz Professor of Economics at Reed College. Professor Clausing is also a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. She has worked on economic policy research with the International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress. She has testified before the House Ways and Means Committee, the Senate Committee on Finance, the Senate Committee on the Budget, and the Joint Economic Committee. Professor Clausing received her B.A. from Carleton College in 1991 and her Ph.D. from Harvard University in 1996, both in economics.

Other New Books Networks interviews on related themes include Yale economist Penny Goldberg, former Chief Economist of the World Bank, on The Unequal Effects of Globalization, Princeton economist Leah Boustan on how immigrants have contributed to and rapidly assimilated into US society, and University of Massachusetts economist Isabella Weber on China's process of integration into the world economy.

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China's household debt has exploded from 11% of GDP in 2006 to over 62% today—a profound transformation in a traditionally savings-focused society. How is this reshaping social relationships and daily life?

In this episode, Dr. Jiaqi Guo from the University of Turku reveals findings from her corpus analysis of China's largest debt support forum. Her research uncovers the practice of "contact bombing" (爆通讯录), where collectors harass debtors' entire social networks, causing what Chinese debtors call "social death" (社死).

With minimal institutional protection, desperate debtors are forming underground support networks and developing their own legal expertise. This cultural shift exposes a human dimension of China's economic growth that statistics alone cannot capture.

Dr. Jiaqi Guo is a University Lecturer in Chinese at the University of Turku, Finland.

This episode is hosted by Hanna Holttinen, University Teacher in Chinese language at the University of Turku, Finland.

The Nordic Asia Podcast is a collaboration sharing expertise on Asia across the Nordic region, brought to you by the following academic partners: Asia Centre, University of Tartu (Estonia), Asian studies, University of Helsinki (Finland), Centre for Asian Studies, Vytautas Magnus University (Lithuania), Centre for East Asian Studies, University of Turku (Finland) and Centre for East and South-East Asian Studies, Lund University (Sweden) and Norwegian Network for Asian Studies.

We aim to produce timely, topical and well-edited discussions of new research and developments about Asia.

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Class Meets Land: The Embodied History of Land Financialization (University of California Press, 2024) by Dr. Maria Kaika & Dr. Luca Ruggiero reveals something seemingly counterintuitive: that nineteenth-century class struggles over land are deeply implicated in the transition to twenty-first-century financial capitalism. Challenging our understanding of land financialization as a recent phenomenon propelled by high finance, Dr. Kaika and Dr. Ruggiero foreground 150 years of class struggle over land as a catalyst for assembling the global financial constellation. Narrating the close-knit histories of industrial land, industrial elites, and the working class, the authors offer a novel understanding of land financialization as a “lived” process: the outcome of a relentless, socially embodied historical unfolding, in which shifts in land’s material, economic, and symbolic roles impact both local everyday lives and global capital flows.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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In the latest episode of Madison’s Notes, I spoke with Janie Nitze, co-author of Over Ruled: The Human Toll of Too Much Law (Harper, 2004), a book written alongside Supreme Court Justice Neil Gorsuch. Janie, a Harvard-educated attorney and former clerk for Justices Sonia Sotomayor and Neil Gorsuch, discussed the growing complexity of laws in America and their impact on everyday citizens. The book shares stories of ordinary Americans—fishermen in Florida, families in Montana, monks in Louisiana, and more—who find themselves caught in legal mazes created by an overwhelming and often opaque system of regulations.

Janie explained that while laws are necessary to maintain order and freedom, the sheer volume and complexity of modern regulations can undermine those principles. She highlighted how excessive laws, many of which are created by unelected agency officials, disproportionately affect those without wealth or power. Through these stories, Over Ruled shows how overregulation can erode trust in the legal system and create unintended consequences for individuals navigating their lives.

Janie’s perspective, shaped by her work at the Supreme Court, the Department of Justice, and the Privacy and Civil Liberties Oversight Board, provided a clear look at the challenges of balancing regulation and individual liberty. Over Ruled is a timely exploration of these issues, and this episode offers a deeper understanding of the human cost of too much law. Tune in to hear Janie’s insights and learn more about the stories behind the book.

Madison’s Notes is the podcast of Princeton University’s James Madison Program in American Ideals and Institutions.

Contributions to and/or sponsorship of any speaker does not constitute departmental or institutional endorsement of the specific program, speakers or views presented.

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Hollywood Unions (Rutgers UP, 2024) is a unique collection that tells the stories of the unions and guilds that have organized motion picture and television labor: IATSE, the DGA, SAG-AFTRA, and the WGA. The Hollywood unions represent a wide swath of the workers making media: from directors and stars to grips and makeup artists. People today know some of these organizations from their glitzy annual awards celebrations, but the unions’ actual importance is in bargaining with the Association of Motion Picture and Television Producers (AMPTP) on behalf of 331,000 workers in the motion picture and television industry. The Hollywood unions are not neutral institutions but rather have long histories of jurisdictional battles, competitions with rival unions, and industry-altering strikes. They have supported the industry’s workers through the Great Depression, World War II, the McCarthy era, the collapse of the studio system, the rise of television, runaway production, fights for gender parity, the digital revolution, and a global pandemic. The history of these unions has contributed to making media work sustainable in the long term and helped shape the conditions and production cultures of Hollywood.

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How Americans think about work changed profoundly over the course of the twentieth century. Thrift and persistence came to seem old-fashioned. Successful workers were increasingly expected to show initiative and enthusiasm for change—not just to do their jobs reliably but to create new opportunities for themselves and for others. Our culture of work today is more demanding than ever, even though workers haven't seen commensurate rewards.

Make Your Own Job: How the Entrepreneurial Work Ethic Exhausted America (Harvard University Press, 2025) by Dr. Erik Baker explains how this entrepreneurial work ethic took hold, from its origins in late nineteenth-century success literature to the gig economy of today, sweeping in strange bedfellows: Marcus Garvey and Henry Ford, Avon ladies and New Age hippies. Business schools and consultants exhorted managers to cultivate the entrepreneurial spirit in their subordinates, while an industry of self-help authors synthesized new ideas from psychology into a vision of work as “self-realization.” Policy experts embraced the new ethic as a remedy for urban and Third World poverty. Every social group and political tendency, it seems, has had its own exemplary entrepreneurs.

Dr. Baker argues that the entrepreneurial work ethic has given meaning to work in a world where employment is ever more precarious––and in doing so, has helped legitimize a society of mounting economic insecurity and inequality. From the advent of corporate capitalism in the Gilded Age to the economic stagnation of recent decades, Americans have become accustomed to the reality that today’s job may be gone tomorrow. Where work is hard to find and older nostrums about diligent effort fall flat, the advice to “make your own job” keeps hope alive.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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Our book is: Big Box USA: The Environmental Impact of America’s Biggest Retail Stores (UP of Colorado, 2024) which presents a new look at how the big box retail store has dramatically reshaped the US economy and its ecosystems in the last half century. From the rural South to the frigid North, from inside stores to ecologies far beyond, this book examines the relationships that make up one of the most visible features of late twentieth-century and early twenty-first-century American life. The rise of big box retail since the 1960s has transformed environments on both local and global scales. Almost everyone has explored the aisles of big box stores. The allure of “everyday low prices” and brightly colored products of every kind connect shoppers with a global marketplace. Contributors join a growing conversation between business and environmental history, addressing the ways American retail institutions have affected physical and cultural ecologies around the world. Essays on Walmart, Target, Cabela’s, REI, and Bass Pro Shops assess the “bigness” of these superstores from “smokestacks to coat racks” and contend that their ecological impacts are not limited to the footprints of parking lots and manufacturing but also play a didactic role in educating consumers about their relationships with the environment. A model for historians seeking to bring business and environmental histories together in their analyses of merchant capital’s role in the landscapes of everyday life and how it has remade human relationships with nature, Big Box USA is a must-read for students and scholars of the environment, business, sustainability, retail professionals, and a general audience.

Our guest is: Dr. Rachel Gross, who is assistant professor of history at the University of Colorado Denver, where she teaches US environmental, business, and public history. She works with university and community partners to bring history into the public realm. She is the author of Shopping All the Way to the Woods: How the Outdoor Industry Sold Nature to America, and the co-editor of Big Box USA: The Environmental Impact of America’s Biggest Retail Stores.

Our host is: Dr. Christina Gessler, who is the creator, producer and show host of the Academic Life podcast. She uses her PhD in history to explore what stories we tell, and what happens to those we never tell.

Listeners may enjoy this playlist:

• Disabled Ecologies
• The Killer Whale Journals
• Stylish Academic Writing
• A Conversation with the editor of University of Wyoming Press
• The Peer Review
• At Every Depth

Welcome to Academic Life, the podcast for your academic journey—and beyond! You can support the show by downloading or sharing episodes. Join us again to learn from more experts inside and outside the academy, and around the world. Missed any of the 240+ Academic Life episodes? Find them here. And thank you for listening!

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Clean water, paved roads, public transit, electricity and gas, sewers, waste processing, telecommunication, even the Internet – all this infrastructure is what makes cities work and powers our lives, often seamlessly and silently. Virtually everything we do and consume depends on infrastructure. Yet, most people have little to no idea how these systems work. How is water treated? How do cities manage rainwater? Why do traffic jams exist? How is electricity generated and distributed? What happens to trash after it is picked up? How does the Internet work?

In The Infrastructure Book: How Cities Work and Power Our Lives (Prometheus Books, 2025), world-renowned urban engineering expert Sybil Derrible reveals the behind-the-scenes machinations of the foundational systems that make our societies function. Visiting sixteen cities around the world and their unique approaches to organizational challenges – from water distribution in Hong Kong to waste management in Tokyo, and from Chicago’s power grid to low Earth orbit satellites in space – this highly readable book uses fascinating case studies and historical detours to show how infrastructure works – and, sometimes, doesn’t.

With large-scale infrastructure repairs looming and the need for existing infrastructure to be transformed, the book also shows how infrastructure can be more sustainable and resilient. After reading The Infrastructure Book, readers will never look at a city the same way.

Sybil Derrible is a professor of urban engineering and director of the Complex and Sustainable Urban Networks Laboratory at the University of Illinois Chicago. He is a world-renowned scholar on infrastructure and a lead author on the United Nations Environmental Program’s Seventh Global Environment Outlook (GEO-7) report. He received the Walter L. Huber Research Prize from the American Society of Civil Engineers and a CAREER Award from the US National Science Foundation.

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At the close of the 1970s, government treasuries and central banks took a vow of perpetual self-restraint. To this day, fiscal authorities fret over soaring public debt burdens, while central bankers wring their hands at the slightest sign of rising wages. As the brief reprieve of coronavirus spending made clear, no departure from government austerity will be tolerated without a corresponding act of penance.

Yet we misunderstand the scope of neoliberal public finance if we assume austerity to be its sole setting. Beyond the zero-sum game of direct claims on state budgets lies a realm of indirect government spending that escapes the naked eye. Capital gains are multiply subsidized by a tax system that reserves its greatest rewards for financial asset holders. And for all its airs of haughty asceticism, the Federal Reserve has become adept at facilitating the inflation of asset values while ruthlessly suppressing wages. Neoliberalism is as extravagant as it is austere, and this paradox needs to be grasped if we are to challenge its core modus operandi.

In Counterrevolution: Extravagance and Austerity in Public Finance (Zone Books, 2024) Dr. Melinda Cooper examines the major schools of thought that have shaped neoliberal common sense around public finance. Focusing, in particular, on Virginia school public choice theory and supply-side economics, she shows how these currents produced distinct but ultimately complementary responses to the capitalist crisis of the 1970s. With its intellectual roots in the conservative Southern Democratic tradition, Virginia school public choice theory espoused an austere doctrine of budget balance. The supply-side movement, by contrast, advocated tax cuts without spending restraint and debt issuance without guilt, in an apparent repudiation of austerity. Yet, for all their differences, the two schools converged around the need to rein in the redistributive uses of public spending. Together, they drove a counterrevolution in public finance that deepened the divide between rich and poor and revived the fortunes of dynastic wealth.

Far-reaching as the neoliberal counterrevolution has been, Dr. Cooper still identifies a counterfactual history of unrealized possibilities in the capitalist crisis of the 1970s. She concludes by inviting us to rethink the concept of revolution and raises the question: Is another politics of extravagance possible?

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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We are all stuck in a money cage. Money isn’t the most important thing, but it is a thing and you can’t get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky’s The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself (Harriman House, 2024) breaks down walls around financial knowledge.

What a weathered investor knows is that stocks are not always good for the long run. They know that being stingy helps accrue wealth. They know the big thing when you buy property has nothing to do with the property. They know the big thing is less what happens to the markets in a day than if the entire system holds together. And they know what to look for if it’s time to pull out. That’s what this book will teach you: a lifetime of money learnings distilled to a thin volume, like a basic cooking recipe you can follow.

Paul Podolsky writes about macro–politics and money. For many years, he was the strategist and equity partner at the largest hedge fund in the world. Previous to that, he worked as a reporter.

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Agriculture remains a key sector of the economies of most Southeast Asian countries. It is supposed to provide nutritious, affordable, accessible and safe food to the people of SE Asia, and livelihood to more than 400 million farmers across the region. How is agriculture affected by climate change, and how can farmers cope with it? What is the relationship between farming and renewable energy installations, which require large land areas to be developed and thus encroach on agriculture? How to best manage water resources needed for farming, but threatened by climate change, and by pollution that often comes from farming?

To discuss the challenges posed by climate change, the role of adaptation, food safety issues, and the importance of effective institutions and policies in supporting and guiding agriculture in Southeast Asia, Tiho Ancev, Professor in Agricultural and Resource Economics at the School of Economics, USYD, joins the podcast. He is SSEAC’s Vietnam Country Convenor, a member of SSEAC’s executive, and member of the executive of Sydney Vietnam Academic Network (SVAN). His research interests are in the economics of climate change, the economics of agricultural policy, and the economics of water, energy, and the environment

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When we think about "red tape" and the cost of regulation it's hard to overstate the impact of professional licensing. According to Professor Rebecca Haw Allensworth, it's bigger than unions and more expensive than sales taxes.

Millions of American workers are required - by law - to obtain a license in order to work. This barrier of entry depends on requirements set by licensing boards staffed mainly by members of the profession they oversee. It limits the number of people who can serve and also confers on licensees a certain degree of prestige and trust. 

In The Licensing Racket: How We Decide Who Is Allowed to Work, and Why It Goes Wrong (Harvard UP, 2025), Allensworth goes deep into a complex web of conflicting priorities. 

Whether it's hair stylists or doctors, plumbers or lawyers, licensing board members are asked to simultaneously represent their personal practice, fellow professionals, and the public. They have to literally "wear three hats", which leads to well-intentioned, but deeply flawed and biased, decision making.

Consumers depend on licensing boards to ensure that professionals maintain high quality and reliability standards by creating - and enforcing - licensing standards. 

In reality, their decisions can be maddeningly arbitrary, creating unnecessary barriers to hopeful practitioners while simultaneously failing to protect the public from bad actors who abuse the trust placed in them.

Despite good intent, board members lack the resources and sometimes the will to investigate even serious disciplinary cases. The consequences include, but are not limited to, the failure of medical licensing boards to remove the abusive doctors who fueled the opioid crisis and a system that allows unethical predatory lawyers to continue to practice, often targeting clients who are unable to protect themselves.

While in some areas licensing is deeply flawed, in others it is critical to a well-functioning society. Allensworth argues for abolition where appropriate and reform where it is most needed.

See Professor Allensworth's faculty profile video

Author recommended reading:

• - Demon Copperhead by Barbara Kingsolver
• - Drug Dealer, MD by Anna Lembke, MD

Hosted by Meghan Cochran

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For millennia, land has been a symbol of wealth and privilege. But the true power of land ownership is even greater than we might think. In Land Power: Who Has It, Who Doesn't, and How That Determines the Fate of Societies (Basic Books, 2025), political scientist Michael Albertus shows that who owns the land determines whether a society will be equal or unequal, whether it will develop or decline, and whether it will safeguard or sacrifice its environment.

Modern history has been defined by land reallocation on a massive scale. From the 1500s on, European colonial powers and new nation-states shifted indigenous lands into the hands of settlers. The 1900s brought new waves of land appropriation, from Soviet and Maoist collectivization to initiatives turning large estates over to family farmers. The shuffle continues today as governments vie for power and prosperity by choosing who should get land. Drawing on a career’s worth of original research and on-the-ground fieldwork, Albertus shows that choices about who owns the land have locked in poverty, sexism, racism, and climate crisis—and that what we do with the land today can change our collective fate.

Michael Albertus is professor of political science at the University of Chicago. The author of four previous books, his writing has appeared in the New York Times, Washington Post, Atlantic, Foreign Affairs, and elsewhere. He lives in Chicago, Illinois.

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Misery beneath the Miracle in East Asia (Cornell University Press, 2024) challenges prevailing views of the East Asian economic miracle. Existing scholarship has overlooked the severity, persistence, and harmful consequences of the social-welfare crises affecting the region. Dr. Arvid J. Lukauskas and Dr. Yumiko Shimabukuro fill this gap and put a major asterisk on East Asia's economic record.

Combining big-picture analysis, abundant data, a dynamic interdisciplinary framework, and powerful human stories, they shed light on the social ills that governments have failed to address adequately, including low wages, child abuse, elderly poverty, and substandard housing. One of the major forces behind the multidimensional welfare crises is the region's productivist welfare strategy, which prioritizes economic growth while abandoning a robust social safety net, leaving the most vulnerable segments of society largely unprotected.

Misery beneath the Miracle in East Asia brings the region into debates over the dangers of seeking growth at all costs that are currently embroiling the United States and other advanced industrialized countries.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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Municipalities around the world have increasingly used inclusionary housing programs to address their housing shortages. Inclusionary Housing and Urban Inequality in London and New York City: Gentrification Through the Back Door (Routledge, 2024) problematizes those programs in London and New York City by offering an empirical, research-based perspective on the socio-spatial dimensions of inclusionary housing approaches in both cities. The aim of those programs is to produce affordable housing and foster greater socio-economic inclusion by mandating or incentivizing private developers to include affordable housing units within their market-rate residential developments. 

The starting point of this book is the so-called “poor door” practice in London and New York City, which results in mixed-income developments with separate entrances for “affordable housing” and wealthier market-rate residents. Focusing on this “poor door” practice allowed for a critical look at the housing program behind it. By exploring the relationship between inclusionary housing, new-build gentrification, and austerity urbanism, this book highlights the complexity of the planning process and the ambivalences and interdependencies of the actors involved. Thereby, it provides evidence that the provision of affordable housing or social mixing through this program has only limited success and, above all, that it promotes – in a sense through the “back door” – the very gentrification and displacement mechanisms it is supposed to counteract. This book will be of interest to researchers and students of housing studies, planning, and urban sociology, as well as planners and policymakers who are interested in the consequences of their own housing programs.

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As Wall Street swooned and boomed through the last decade, our livelihoods have—now more than ever—come to rely upon the good sense and risk appetites of a few standout investors. And amidst the BlackRocks, Vanguards, and Berkshire Hathaways stands arguably the most iconoclastic of them all: SoftBank’s Masayoshi Son.

In Gambling Man: The Wild Ride of Japan’s Masayoshi Son (Atria, 2024), the first Western biography of Son, the self-professed unicorn hunter, we go behind the scenes of the world’s most monied halls of power in New York, Tokyo, Silicon Valley, Saudi Arabia, and beyond to see how Son’s firm SoftBank has defied conventional wisdom and imposing odds to push global tech and commerce into the future.

From the dizzying highs of Uber, DoorDash, and Slack to the epic lows of WeWork and tech-infused dogwalking app Wag Son and SoftBank have been at the center of cutting-edge capitalism’s absolute peaks and valleys. In the process, Son, son of a pachinko kingpin who grew up in a slum in Japan, has been a hero, a villain, and even a meme-ified hero to the internet tech- and finance-bro set all at once.

Based on in-depth research and eye-opening interviews, Gambling Man is an unforgettable character study and alarming true story of twenty-first-century commerce that will stick with you long after you turn the final page.

Lionel Barber is the former editor of the Financial Times. As editor, he interviewed many of the world’s leaders in business and politics, including US Presidents Barack Obama and Donald Trump, Russian President Vladimir Putin, Chancellor Angela Merkel of Germany, and Indian Prime Minister Narendra Modi. Barber has co-written several books and has lectured widely on foreign policy, transatlantic relations, and economics.

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In this engaging interview, young scholar Dr, Joel Z. Garrod explains his book's main argument, with a personal touch. In Royal Histories: The Transformation of the Royal Bank of Canada, 1864-2022 (U Toronto Press, 2025), Garrod presents a historical analysis of the Royal Bank of Canada, illustrating how Canadian capitalism and the Canadian banking industry have transformed as they have consolidated nationally and expanded abroad. Emphasizing how national institutions and rules are increasingly becoming capabilities for transnational forms of capital accumulation, the book draws on extensive primary and secondary sources to document the transformation of the assemblage of territory, authority, and rights that have supported the bank’s activities over time. Linking the bank’s history to the policy regimes of the welfare state and neoliberalism, Garrod contends that our present period of globalization severely limits the extent to which nation-states can absorb capitalist crises or be a site of successful social reform. Connecting the Canadian experience to the wider transformation of global capitalism, Royal Histories illuminates the effects of globalization and the changing landscape of banking and finance.

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When we talk about debt and its impact on our economy, we almost always mean “government debt.” However, this is only a small part of the picture: individuals, private firms, and households owe trillions, and these private debts are vital to understanding the economy.

In The Paradox of Debt: A New Path to Prosperity Without Crisis (U Pennsylvania Press, 2023), Richard Vague examines the assets, liabilities, and incomes of the entire country, private and public sector, to reveal its net worth. His holistic analysis shows that the real factor that drives both financial crises and spiraling inequality—but also, paradoxically, economic growth—is ever rising private debt. The paradox is that while debt is essential and our economy relies on it, it also brings instability unless it is periodically deleveraged—and that is very hard to do. It can, however, be carefully managed, and Vague ends the book by showing how to do so in policy areas ranging from trade and housing to financial policy and student debt.

Underpinned by pioneering data analysis and the author’s lifetime of experience in the financial world, this book is essential for anyone who wants to understand the deep, underlying dynamics of the American economy.

Following a career that has spanned fields as varied as banking, energy, credit, and the arts, Richard Vague has recently served as Secretary of Banking and Securities for the Commonwealth of Pennsylvania. He is the author of numerous books, including An Illustrated Business History of the United States, also available from the University of Pennsylvania Press.

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The global financial crisis of the late 2000s was marked by the failure of regulators to rein in risk-taking by banks. And yet regulatory issues varied from country to country, with some national financial regulatory systems proving more effective than others. 

In Visions of Financial Order: National Institutions and the Development of Banking Regulation (Princeton University Press, 2024), Dr. Kim Pernell traces the emergence of important national differences in financial regulation in the decades leading up to the crisis. To do so, she examines the cases of the United States, Canada, and Spain—three countries that subscribed to the same transnational regulatory framework (the Basel Capital Accord) but developed different regulatory policies in areas that would directly affect bank performance during the financial crisis.

In a broad historical analysis that extends from the rise of the first modern chartered banks in the 1780s through the major financial crises of the twentieth century and the Basel Capital Accord of 1988, Dr. Pernell shows how the different (and sometimes competing) principles of order embedded in each country’s regulatory and political institutions gave rise to distinctive visions of order and prosperity, which shaped subsequent financial regulatory design. Dr. Pernell argues that the different worldviews of national banking regulators reflected cultural beliefs about the ideal way to organize economic life to promote order, stability, and prosperity. Visions of Financial Order offers an innovative perspective on the persistent differences between regulatory institutions and the ways they shaped the unfolding of the 2008 global financial crisis.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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For generations most of the canonical works that detail the lives of poor people have been created by rich or middle-class writers like Charles Dickens, John Steinbeck, or James Agee. This has resulted in overwhelming depictions of poor people as living abject, violent lives in filthy and degrading conditions. 

In Poor Things: How Those with Money Depict Those Without It (Duke UP, 2024), Lennard J. Davis labels this genre ‘poornography”: distorted narratives of poverty written by and for the middle and upper classes. Davis shows how poornography creates harmful and dangerous stereotypes that build barriers to social justice and change. To remedy this, Davis argues, poor people should write realistic depictions of themselves, but because of representational inequality they cannot. Given the obstacles to the poor accessing the means of publication, Davis suggests that the work should, at least for now, be done by “transclass” writers who were once poor and who can accurately represent poverty without relying on stereotypes and clichés. Only then can the lived experience of poverty be more fully realized.

The Endo/Exo Writers Project.

Nathan Smith is a PhD candidate in Music Theory at Yale University

nathan.smith@yale.edu

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Radical right parties are no longer political challengers on the fringes of party systems; they have become part of the political mainstream across the Western world. How the Radical Right Has Changed Capitalism and Welfare in Europe and the USA (Oxford UP, 2024) shows how they have used their political power to reform economic and social policies in Continental Europe, Northern Europe, Eastern Europe, and the USA. In doing so, it argues that the radical right's core ideology of nativism and authoritarianism informs their socio-economic policy preferences. However, diverse welfare state contexts mediate their socio-economic policy impacts along regime-specific lines, leading to variations of trade protectionism, economic nationalism, traditional familialism, labour market dualism, and welfare chauvinism.

The radical right has used the diverse policy instruments available within their political-economic arrangements to protect threatened labour market insiders and male breadwinners from decline, while creating a racialized and gendered precariat at the same time. This socio-economic agenda of selective status protection restores horizontal inequalities in terms of gender and ethnicity, without addressing vertical inequalities between the rich and the poor.

Combining insights from comparative politics, party politics, comparative political economy, and welfare state research, the book provides novel insights into how the radical right manufactures consent for authoritarian rule by taming the socially corrosive effects of globalised capitalism for key electoral groups, while aiming to exclude the rest from democratic participation.

Philip Rathgeb is an associate professor in Social Policy in the School of Social and Political Science at the University of Edinburgh. Previously, he was a Postdoctoral Researcher in the Department of Politics and Public Administration at the University of Konstanz. Philip holds a PhD in Political and Social Sciences from the European University Institute (EUI) and held visiting positions at Harvard University, Lund University, University of Southern Denmark, and the EUI. His research interests are in comparative political economy and comparative politics, with a particular focus on welfare states, industrial relations, and party politics. His first book Strong Governments, Precarious Workers was published with Cornell University Press in 2018.

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.

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Economists in the Cold War: How a Handful of Economists Fought the Battle of Ideas (Oxford UP, 2023) is an account of the economic drivers and outcomes of the Cold War, told through the stories of seven international economists, who were all closely involved in theory and policy in the period 1945-73. For them, the Cold War was a battle of economic ideas, a fight between central planning and market allocation, exploring economic thinking derived from the battle between Marxist and Capitalist ideologies, a fundamental difference but with many intricacies.

The book recounts how economic theory advanced, how new economic tools were developed, and how policies were tested. Each chapter is based on the involvement of one of the selected economists. It was a challenging but dangerous time in economics: a time of economic recovery post-war, with industrial rebuilding, economic growth, and rising incomes. But it was also a time of ideological warfare, nuclear rivalry, military expansion, and personal conflict.

The narrative is approximately chronological, ranging from the Potsdam Conference in Germany to the Pinochet Coup in Chile. The selected economists include an American, a Pole, a Hungarian, a German, a British, a Japanese, and an Argentinian, all very different economists, but with interconnections among them. Each chapter also features a dissenting economist who held a contrasting view, and recounts the subsequent economic arguments that played out.

Alan Bollard is a Professor of Economics at Victoria University of Wellington, New Zealand. He formerly managed APEC, the largest regional economic integration organization in the world, and was previously the New Zealand Reserve Bank Governor, Secretary of the New Zealand Treasury, and Chairman of the New Zealand Commerce Commission. Professor Bollard is the author of Crisis: One Central Bank Governor and the Global Financial Crisis (Auckland University Press, 2013) and A Few Hares to Chase: The Life and Economics of Bill Philips (Oxford University Press, 2016).

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.

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International Development Law: Rule of Law, Human Rights & Global Finance (Springer, 2020) describes how international development works, its shortcomings, its theoretical and practical foundations, along with prescriptions for the future. It provides the reader with new perspectives on the origins of global poverty, identifies legal impediments to sustainable economic growth, and provides a better understanding of the challenges faced by the international community in resolving global poverty issues. The text is structured into two basic parts: the first part deals with the theoretical and philosophic foundations of the subject, and the second part sets forth issues relating to the international financial architecture, namely, international borrowing practices, privatization, and emerging economies. 

In particular, the book provides new, innovative analysis on corruption as an impediment to sustainable development. The three interlocking facets of corruption are examined: transnational organized crime, Islamic-based international terrorism, and corruption within emerging economies and the international banking system. Thus fresh new analysis adds depth and clarity to a field that heretofore has been scattered and superficial. Finally, the “right to development” within the international human rights discourse is critically reviewed, particularly in light of new jurisprudence emerging from the African context.This book offers a fresh, new and balanced legal perspective on the development process. The text has been rigorously researched and has many practical facets based on the author’s professional experience within the international development field. It is an invaluable research and teaching tool since it takes a multidisciplinary approach to putting complex issues, legal trends and political questions into a clear, new perspective that is highly analytical as well as accessible to the reader. The author's elegant legal prose is both powerful and persuasive.

Rumu Sarkar is Adjunct Law Professor at Case Western Reserve University School of Law.

Caleb Zakarin is editor at the New Books Network.

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Who and what are India’s land mafia? How do they operate, and why have they become so crucial to India’s land market? In this episode, we are joined by Chiara Arnavas for a discussion on the emergence over the past decades of a dynamic Indian land mafia that is centrally involved in moving land around, freeing it up for new uses, and passing it onto other actors for mega-profits. We analyze how the land mafia works, and what the implications are for social inequalities along the lines of class, caste, gender, and religion.

Chiara Arnavas is a Doctoral Research Fellow at the University of Oslo

Your host Kenneth Bo Nielsen is a social anthropologist and the leader of the Centre for South Asian Democracy at the University of Oslo.

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Meltdown: Scandal, Sleaze and the Collapse of Credit Suisse (Pegasus Books, 2024) is a great business history book. It meticulously chronicles the story of a large and once revered Swiss Bank, Credit Suisse, from its foundation in 1856 until how a series of scandals, driven by a culture of greed and entitlement among its bankers, led to the bank´s ultimate collapses in March 2023. The narrative also explores the bank's international expansion, particularly its partnership with First Boston in the United States.

Meltdown is not just a history of Credit Suisse but a broader investigation into the systemic issues of greed, lies, and ambition that plague the financial industry. It raises critical questions about the future of big banks in a world where transparency and accountability are increasingly demanded.

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In the late nineteenth century, as much of the world adopted some variant of the gold standard, China remained the most populous country still using silver. Yet China had no unified national currency; there was not one monetary standard but many. Silver coins circulated alongside chunks of silver and every transaction became an "encounter of wits." China and the End of Global Silver, 1873–1937 (Cornell UP, 2020) focuses on how officials, policy makers, bankers, merchants, academics, and journalists in China and around the world answered a simple question: how should China change its monetary system? Far from a narrow, technical issue, Chinese monetary reform is a dramatic story full of political revolutions, economic depressions, chance, and contingency. As different governments in China attempted to create a unified monetary standard in the late nineteenth and early twentieth century, the United States, England, and Japan tried to shape the direction of Chinese monetary reform for their own benefit. 

Austin Dean argues convincingly that the Silver Era in world history ended owing to the interaction of imperial competition in East Asia and the state-building projects of different governments in China. When the Nationalist government of China went off the silver standard in 1935, it marked a key moment not just in Chinese history but in world history.

Austin Dean is Assistant Professor of History at the University of Nevada, Las Vegas. His work has appeared in Modern China and the Journal of American-East Asian Relations. He is on twitter @thelicentiate.

Ghassan Moazzin is an Assistant Professor at the Hong Kong Institute for the Humanities and Social Sciences and the Department of History at the University of Hong Kong. He works on the economic and business history of 19th and 20th century China, with a particular focus on the history of foreign banking, international finance and electricity in modern China. His first book, tentatively titled Foreign Banks and Global Finance in Modern China: Banking on the Chinese Frontier, 1870–1919, is forthcoming with Cambridge University Press.

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Politicians, economists, and the media have put forth no shortage of explanations for the mounting problem of wealth inequality – a loss of working class jobs, a rise in finance-driven speculative capitalism, and a surge of tax policy decisions that benefit the ultra-rich, among others. While these arguments focus on the macro problems that contribute to growing inequality, they overlook one innocuous but substantial contributor to the widening divide: the explosion of fees accompanying virtually every transaction that people make.

As Devin Fergus, Arvarh E. Strickland Distinguished Professor of History, Black Studies, and Public Affairs at the University of Missouri, shows in Land of the Fee: Hidden Costs and the Decline of the American Middle Class (Oxford University Press, 2018), these perfectly legal fees are buried deep within the verbose agreements between vendors and consumers – agreements that few people fully read or comprehend. The end effect, Fergus argues, is a massive transfer of wealth from the many to the few: large banking corporations, airlines, corporate hotel chains, and other entities of vast wealth. Fergus traces the fee system from its origins in the deregulatory wave of the late 1970s to the present, placing the development within the larger context of escalating income inequality. He organizes the book around four of the basics of existence: housing, work, transportation, and schooling. In each category, industry lobbyists successfully influenced legislatures into transforming the law until surreptitious fees became the norm.

The average consumer is now subject to a dizzying array of charges in areas like mortgage contracts, banking transactions, auto insurance rates, college payments, and payday loans. The fees that accompany these transactions are not subject to usury laws and have effectively redistributed wealth from the lower and middle classes to ultra-wealthy corporations and the individuals at their pinnacles. By exposing this predatory and nearly invisible system of fees, Land of the Fee will reshape our understanding of wealth inequality in America.

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In India, elite law firms offer a surprising oasis for women within a hostile, predominantly male industry. Less than 10 percent of the country's lawyers are female, but women in the most prestigious firms are significantly represented both at entry and partnership. Elite workspaces are notorious for being unfriendly to new actors, so what allows for aberration in certain workspaces?

Drawing from observations and interviews with more than 130 elite professionals, Accidental Feminism: Gender Parity and Selective Mobility Among India’s Professional Elite (Princeton UP, 2021) examines how a range of underlying mechanisms-gendered socialization and essentialism, family structures and dynamics, and firm and regulatory histories-afford certain professionals egalitarian outcomes that are not available to their local and global peers. Juxtaposing findings on the legal profession with those on elite consulting firms, Swethaa Ballakrishnen reveals that parity arises not from a commitment to create feminist organizations, but from structural factors that incidentally come together to do gender differently. Simultaneously, their research offers notes of caution: while conditional convergence may create equality in ways that more targeted endeavors fail to achieve, "accidental" developments are hard to replicate, and are, in this case, buttressed by embedded inequalities. Ballakrishnen examines whether gender parity produced without institutional sanction should still be considered feminist.

In offering new ways to think about equality movements and outcomes, Accidental Feminism forces readers to critically consider the work of intention in progress narratives.

Noopur Raval is a postdoctoral researcher working at the intersection of Information Studies, STS, Media Studies and Anthropology.

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Many studies of China's relations with and influence on Southeast Asia tend to focus on how Beijing has used its power asymmetry to achieve regional influence. Yet, scholars and pundits often fail to appreciate the complexity of the contemporary Chinese state and society, and just how fragmented, decentralized, and internationalized China is today.

In The Ripple Effect: China's Complex Presence in Southeast Asia (Oxford UP, 2024), Enze Han argues that a focus on the Chinese state alone is not sufficient for a comprehensive understanding of China's influence in Southeast Asia. Instead, we must look beyond the Chinese state, to non-state actors from China, such as private businesses and Chinese migrants. These actors affect people's perception of China in a variety of ways, and they often have wide-ranging as well as long-lasting effects on bilateral relations. Looking beyond the Chinese state's intentional influence reveals many situations that result in unanticipated changes in Southeast Asia. Han proposes that to understand this increasingly globalized China, we need more conceptual flexibility regarding which Chinese actors are important to China's relations, and how they wield this influence, whether intentional or not.

The Ripple Effect makes the case that to understand China's relationship with Southeast Asia, it is necessary to move beyond a narrow fixation on the Chinese state by scrutinizing the ordinary manifestations of China's presence in the region and recognizing the multifaceted web of actors and their effects on the dynamics between the two regions.

Enze Han is an associate professor of politics at the University of Hong Kong. He works on the international relations of East Asia, Southeast Asian politics and China-Southeast Asia relations. This is his third single-authored book from Oxford University Press.

Enze is in conversation with Duncan McCargo, President's Chair in Global Affairs at Nanyang Technological University and one of the hosts on New Books in Southeast Asian Studies. Duncan's recent co-authored article on the relationship between Thai politics and attitudes to China, mentioned during the podcast, may be found here.

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How the creation of money and monetary policy can be more democratic.

The power to create money is foundational to the state. In the United States, that power has been largely delegated to private banks governed by an independent central bank. Putting monetary policy in the hands of a set of insulated, nonelected experts has fueled the popular rejection of expertise as well as a widespread dissatisfaction with democratically elected officials. 

In Our Money: Monetary Policy as If Democracy Matters (Princeton UP, 2024), Leah Downey makes a principled case against central bank independence (CBI) by both challenging the economic theory behind it and developing a democratic rationale for sustaining the power of the legislature to determine who can create money and on what terms. How states govern money creation has an impact on the capacity of the people and their elected officials to steer policy over time. In a healthy democracy, Downey argues, the balance of power over money creation matters.

Downey applies and develops democratic theory through an exploration of monetary policy. In so doing, she develops a novel theory of independent agencies in the context of democratic government, arguing that states can employ expertise without being ruled by experts. Downey argues that it is through iterative governance, the legislature knowing and regularly showing its power over policy, that the people can retain their democratic power to guide policy in the modern state. As for contemporary macroeconomic arguments in defense of central bank independence, Downey suggests that the purported economic benefits do not outweigh the democratic costs.

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As writers, musicians, online content creators, and other independent workers fight for better labor terms, romance authors offer a powerful example—and a cautionary tale—about self-organization and mutual aid in the digital economy. 

In Love in the Time of Self-Publishing: How Romance Writers Changed the Rules of Writing and Success (Princeton University Press, 2024), Dr. Christine Larson traces the forty-year history of Romancelandia, a sprawling network of romance authors, readers, editors, and others, who formed a unique community based on openness and collective support. Empowered by solidarity, American romance writers—once disparaged literary outcasts—became digital publishing’s most innovative and successful authors. Meanwhile, a new surge of social media activism called attention to Romancelandia’s historic exclusion of romance authors of color and LGBTQ+ writers, forcing a long-overdue cultural reckoning.

Drawing on the largest-known survey of any literary genre as well as interviews and archival research, Dr. Larson shows how romance writers became the only authors in America to make money from the rise of ebooks—increasing their median income by 73 percent while other authors’ plunged by 40 percent. The success of romance writers, Larson argues, demonstrates the power of alternative forms of organizing influenced by gendered working patterns. It also shows how networks of relationships can amplify—or mute—certain voices.

Romancelandia’s experience, Dr. Larson says, offers crucial lessons about solidarity for creators and other isolated workers in an increasingly risky employment world. Romancelandia’s rise and near-meltdown shows that gaining fair treatment from platforms depends on creator solidarity—but creator solidarity, in turn, depends on fair treatment of all members.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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As part of our informal series on artificial intelligence, Peoples & Things host, Lee Vinsel, talks with Matt Beane, Assistant Professor of Technology Management at the University of California, Santa Barbara, about his book The Skill Code: How to Save Human Ability in the Age of Intelligent Machines (HarperCollins, 2024). 

Beane outlines the fascinating forms of research he did - both his own ethnographic work and reanalyzing the data of other ethnographers - to better understand how automating technologies are being adopted in organizational settings and how such adoption may threaten traditional mentor-mentee relationships through which junior workers learn crucial skills. Beane also discusses ways in which the worst negative skill-learning outcomes may be avoided and his own work trying to create new training systems to improve our current situation.

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The recent retreat from globalization has been triggered by a perception that increased competition from global trade is not fair and leads to increased inequality within countries. Is this phenomenon a small hiccup in the overall wave of globalization, or are we at the beginning of a new era of deglobalization? Former Chief Economist of the World Bank Group Pinelopi Koujianou Goldberg tells us that the answer depends on the policy choices we make, and in The Unequal Effects of Globalization (MIT Press, 2023), she calls for exploring alternative policy approaches including place-based policies, while sustaining international cooperation.

At this critical moment of shifting attitudes toward globalization, The Unequal Effects of Globalization enters the debate while also taking a step back. Goldberg investigates globalization's many dimensions, disruptions, and complex interactions, from the late twentieth century's wave of trade liberalizations to the rise of China, the decline of manufacturing in advanced economies, and the recent effects of trade on global poverty, inequality, labor markets, and firm dynamics. From there, Goldberg explores the significance of the recent backlash against and potential retreat from globalization and considers the key policy implications of these trends and emerging dynamics.

As comprehensive as it is well-balanced, The Unequal Effects of Globalization is an essential read on trade and cooperation between nations that will appeal as much to academics and policymakers as it will to general readers who are interested in learning more about this timely subject.

Pinelopi (Penny) Koujianou Goldberg is the Elihu Professor of Economics and Global Affairs and an Affiliate of the Economic Growth Center at Yale University. She holds a joint appointment at the Yale Department of Economics and the Jackson School of Global Affairs. From 2018 to 2020, she was the Chief Economist of the World Bank Group. Goldberg was President of the Econometric Society in 2021 and has previously served as Vice-President of the American Economic Association. From 2011-2017 she was Editor-in-Chief of the American Economic Review. She is member of the National Academy of Sciences and the American Academy of Arts and Sciences, recipient of Guggenheim Memorial Foundation and Sloan Research Fellowships, and recipient of the Bodossaki Prize in Social Sciences. She is also a Distinguished Fellow of the Centre for Economic Policy Research (CEPR), research associate at the National Bureau of Economics Research (NBER), research fellow at the Institute for Fiscal Studies (IFS) in London, UK, fellow of the CESifo research network in Germany, and member of the board of directors of the Bureau of Research and Economic Analysis of Development (BREAD).

Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China’s Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master’s of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy.

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In the present day, Big Tech is extracting resources from us, transferring and centralizing resources from people to companies. These companies are grabbing our most basic natural resources--our data--exploiting our labor and connections, and repackaging our information to control our views, track our movements, record our conversations, and discriminate against us. These companies tell us this is for our own good, to build innovation and develop new technology. But in fact, every time we unthinkingly click "Accept" on a set of Terms and Conditions, we allow our most personal information to be kept indefinitely, repackaged by companies to control and exploit us for their own profit. 

In Data Grab: The New Colonialism of Big Tech and How to Fight Back (The University of Chicago Press, 2024), Ulises Mejias and Nick Couldry explain why postindustrial capitalism cannot be understood without colonialism, and why race is a critical factor in who benefits from data colonialism, just as it was for historic colonialism. In this searing, cutting-edge guide, Mejias and Couldry explore the concept of data colonialism, revealing how history can help us understand the emerging future--and how we can fight back.

Mention in this episode: Tierra Comun (English Version)

Ulises A. Mejias is professor of communication studies at the State University of New York at Oswego.

Nick Couldry is professor of media, communications, and social theory at the London School of Economics and Political Science and faculty associate at Harvard University’s Berkman Klein Center for Internet and Society.

Dr. Michael LaMagna is the Information Literacy Program & Library Services Coordinator and Professor of Library Services at Delaware County Community College.

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Challenging mainstream narratives in political economy, the new book Feminist Political Economy: A Global Perspective (Agenda Publishing, 2023) serves as an introduction to a new era of critical research. It is written by Prof. Sara Cantillon, Dr. Sara Stevano and Prof. Odile Mackett, who have carried out incredible work to deconstruct gender-blind approaches in contemporary economic research. The book brings together the most important topics in political economy and demonstrates why feminist approaches are crucial to understanding social relations. It begins with an overview of feminist political economy and then offers a nuanced perspective on care, social reproduction, inequalities in households and labour markets, and the feminisation of poverty. As mentioned in the podcast, the book not only takes a feminist approach to theory, but is also an example of the practice of feminist research, focusing for example on female scholars.

The host, Sarah Vogelsanger, is a feminist researcher, who is interested in social justice, critical migration studies and political ecology.

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In theory, bankruptcy in America exists to cancel or restructure debts for people and companies that have way too many--a safety valve designed to provide a mechanism for restarting lives and businesses when things go wrong financially. In this brilliant and paradigm-shifting book, legal scholar Melissa B. Jacoby shows how bankruptcy has also become an escape hatch for powerful individuals, corporations, and governments, contributing in unseen and poorly understood ways to race, gender, and class inequality in America. When cities go bankrupt, for example, police unions enjoy added leverage while police brutality victims are denied a seat at the negotiating table; the system is more forgiving of civil rights abuses than of the parking tickets disproportionately distributed in African American neighborhoods. Across a broad range of crucial issues, Unjust Debts: How Our Bankruptcy System Makes America More Unequal (New Press, 2024) reveals the hidden mechanisms by which bankruptcy impacts everything from sexual harassment to health care, police violence to employment discrimination, and the opioid crisis to gun violence. In the tradition of Matthew Desmond's groundbreaking Evicted, Unjust Debts is a riveting and original work of accessible scholarship with huge implications for ordinary people and will set the terms of debate for this vital subject.

Melissa B. Jacoby is the Graham Kenan Professor of Law at the University of North Carolina at Chapel Hill.

Caleb Zakarin is editor at the New Books Network.

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Southeast Asia is of vital importance to Australia. As a nation, Australia’s prosperity, security and economic future are intimately connected to the region. According to the Australian Department of Foreign Affairs, Southeast Asia is expected to be the fourth largest economy in the world by 2040, with its middle class already numbering close to 200 million people. Recognising the crucial significance of Southeast Asia to Australia, the Federal Government released Invested: Australia’s Southeast Asia Economic Strategy to 2040 in September 2023, which provides a roadmap to deepening our economic engagement and increasing two-way trade and investment with the region. Natali’s guest on SSEAC Stories is Nicholas Moore who Lead the development of this national strategy, and who was appointed as Australia’s Special Envoy for Southeast Asia in November 2022.

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The Green New Deal from Below: How Ordinary People Are Building a Just and Climate-Safe Economy (U Illinois Press, 2024) offers a visionary program for national renewal, the Green New Deal aims to protect the earth's climate while creating good jobs, reducing injustice, and eliminating poverty. 

Its core principle is to use the necessity for climate protection as a basis for realizing full employment and social justice. Jeremy Brecher goes beyond the national headlines and introduces readers to the community, municipal, county, state, tribal, and industry efforts advancing the Green New Deal across the United States. Brecher illustrates how such programs from below do the valuable work of building constituencies and providing proofs of concept for new ideas and initiatives. Block by block, these activities have come together to form a Green New Deal built on a strong foundation of small-scale movements and grassroots energy. A call for hope and a better tomorrow, The Green New Deal from Below offers a blueprint for reconstructing society on new principles to avoid catastrophic climate change.

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Peoples & Things host, Lee Vinsel, talks to Benjamin Shestakofsky about his book, Behind the Startup: How Venture Capital Shapes Work, Innovation, and Inequality (U California Press, 2024). Shestakofsky is Assistant Professor of Sociology at the University of Pennsylvania, where he is affiliated with AI at Wharton and the Center on Digital Culture and Society. His research centers on how digital technologies are affecting work and employment, organizations, and economic exchange.

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What really separates emancipatory thinking from its opposite? The prevailing Left defines itself against neoliberalism, conservative traditionalism, and fascism as a matter of course. The philosophical differences, however, may be more apparent than real. 

The Right-Wing Mirror of Critical Theory: Studies of Schmitt, Oakeshott, Hayek, Strauss, and Rand (Rowman & Littlefield, 2023) argues that dominant trends in critical and radical theory inadvertently reproduce the cardinal tenets of the twentieth century’s most influential right-wing philosophers. It finds the rejection of foundationalism, rationalism, economic planning, and vanguardism mirrored in the work of Schmitt, Oakeshott, Hayek, and Strauss. If it is to be more than merely an inverted image of the Right, critical theory must reevaluate its relationship to what Julius Nyerere once called “deliberate design” in politics. In the era of anthropogenic climate change, a substantial—not merely nominal—departure from right-wing talking points is all the more necessary and momentous.

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.

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Streaming Music, Streaming Capital (Duke University Press, 2024)  provides a much-needed study of the political economy of music streaming, drawing from Western Marxism, social reproduction theory, eco-socialist thought and more to approach the complex and highly contested relationship between music and capital. By attending to the perverse ways in which recorded music has been ultimately decommodified under the current regime of music production, circulation and consumption, Eric Drott explores issues that far exceed music - consumer surveillance, Silicon Valley monopolism, the crisis of care, capitalist extractivism and the climate emergency - while showing us how the streaming economy is thoroughly imbricated, and implicated, in these processes. Drott's rigorous and wide-ranging analysis thus offers novel ways of understanding music, culture, digitalisation and capitalism in present and future tenses .

Eric Drott is Associate Professor of Music Theory at the University of Texas at Austin.

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To meet the greenhouse gas emissions reductions needed to stave off the worst impacts of climate change, a transition away from fossil fuels must occur, as quickly as possible. But there are many unknowns when it comes to moving from theory to implementation for such a large-scale energy transition, to say nothing of whether this transition will be “just.” 

In A Just Transition for All: Workers and Communities for a Carbon-Free Future (MIT Press, 2024), J. Mijin Cha—a seasoned climate policy researcher who also works with advocacy organizations and unions—offers a comprehensive analysis of how we can actualize a just transition in the U.S. context and enact transformational changes that meaningfully improve people’s lives. Cha provides a novel governance framework called the “Four+ Pillars,” formulated from original research to provide a way to move from theory to practice. The “Pillars” framework includes a novel analysis that guides readers in understanding how to formulate effective just transition policies, what makes them just or unjust, and, similarly, what makes transition just and unjust. The framework also combines theoretical discussions with original empirical research and provides insights into perceptions of just transition. Grounded in real-world perspectives that make the case for policies that advance a just transition for all, not just fossil fuel workers, Cha charts the path forward to an equitable and sustainable future that no longer depends on fossil fuels.

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The China Business Conundrum: Ensure That "Win-Win" Doesn't Mean Western Companies Lose Twice (Wiley, 2024) describes former CEO of Silicon Valley Bank (SVB) Ken Wilcox's firsthand challenges he encountered in four years “on the ground” trying to establish a joint venture between SVB and the Chinese government to fund local innovation design―and the Chinese Communist Party (CCP) efforts to systematically sabotage the project and steal SVB's business model. This book provides actionable advice drawn from meticulous notes Wilcox took from interviews with people from all walks of Chinese life, including Party and non-Party members, the business elite, and domestic workers.

Describing a China he found fascinating and maddeningly complex, this book explores topics including:

1. Difficulties in transplanting SVB's model to China, from misunderstandings about titles and responsibilities to pitched battles over toilet design
2. Ethics and practices widely adopted by Chinese businesses today and why China must be met with realistic expectations
3. Wilcox's own honest missteps and the painfully learned lessons that came afterwards

Engrossing, enlightening, and entertaining, The China Business Conundrum: Ensure That "Win-Win" Doesn't Mean Western Companies Lose Twice is an essential cautionary tale and guidebook for anyone seeking to do business in or with China, and an essential first-person account for academics trying to understand China’s unique political economy and development trajectory.

Ken Wilcox was the CEO of Silicon Valley Bank (SVB) from 2001 to 2011, then the CEO of SVB’s joint venture with Shanghai Pudong Development Bank (SPDB-SVB) in Shanghai until 2015, followed by four years as its Vice Chairman. He currently serves on the boards of the Asia Society of Northern California, the Asian Art Museum, and UC San Diego’s 21st Century China Center, as well as Columbia Lake Partners, a European venture-debt fund. He is on the Board of Advisors of the Fudan University School of Management in Shanghai and teaches as an Adjunct Professor at U.C. Berkeley.

Ken holds a PhD in German from Ohio State University and an MBA from Harvard Business School. He is a former member of the board of directors of the Federal Reserve Bank of San Francisco. He has given numerous speeches in both English and Chinese, published a variety of articles in the banking press, and recently wrote the management book “Leading Through Culture: How Real Leaders Create Cultures That Motivate People to Achieve Great Things” (Waterside Productions, 2020) and its accompanying workbook, “How About You?” (Waterside Productions, 2023). The father of two sons, he lives in San Francisco with his wife, Ruth, and several antique cars.

For more of Ken’s insights, follow his substack.

Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China’s Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master’s of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy.

Lorentzen’s other NBN interviews relating to China’s tech sector include From Click to Boom, on the political economy of e-commerce in China, Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba’s business model and organizational culture, Surveillance State, on China’s digital surveillance, Prototype Nation, on the culture and politics of China’s innovation economy.

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International development projects supported by governments of wealthy countries, international financial institutions, and influential NGOs like the Gates Foundation purport to uplift poor or disadvantaged populations through political, economic, and social interventions in these communities. However, practices, policies, and discourses of development also have a darker side: they are both premised on and perpetuate the translation of social difference into deficit, ranking groups according to their perceived ‘stage’ of historical development.

My guest today, the political theorist Begüm Adalet, has explored how discourses and practices of development have interacted with political processes of racialization. She also examines how anti-colonial movements can resist racialized development practices by envisioning alternative means of recrafting built environments and the creation of selves. Our interview today focuses on three recent articles that she has published in academic journals:

• “Agricultural infrastructures: Land, race, and statecraft in Turkey,” Environment and Planning D: Society and Space vol. 40, no. 6 (2022): 975-993
• “Infrastructures of Decolonization: Scales of Worldmaking in the Writings of Frantz Fanon,” Political Theory vol. 50, no. 1 (2022): 5-31
• “An Empire of Development: American Political Thought in Transnational Perspective,” American Political Science Review (2024)

Begüm Adalet is assistant professor in the Department of Government at Cornell University. She is the author of Hotels and Highways: The construction of modernization theory in Cold War Turkey (Stanford, 2018), which I interviewed her about for the New Books Network in 2020.

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This is the final episode of Cited’s most recent season, Use & Abuse of Economic Expertise, a season that tells stories of the political and scholarly battles behind the economic ideas that shape our world. For a full list of credits, and for the rest of the episodes, visit the series page. They will back with a new season focussed on environmental politics in early 2025, so make sure you are subscribed to the podcast (Apple, Spotify, manual RSS).

The MAGA movement scores big wins by taking cheap shots at experts. Now, some worry that Donald Trump could try to oust Federal Reserve Chairman Jerome Powell. The typical centrist position is to defend the supposedly impartial, apolitical expertise of such figures. Yet, we know that is not exactly right either. Is there a better way to imagine a better bank?

In our first segment, we speak with Frances Coppala, author of The Case for People's Quantitative Easing. It’s something of a case study in Fed politics, revealing how their decisions post-Global Financial Crisis served the rich, and not working people.

Yet, saying that these experts are political does not mean we have to be hyper-partisan reactionary hacks. Instead, democratizing the bank could offer a better way forward. That's according to Annelise Riles, a professor of law and of anthropology, and author of the book Financial Citizenship: Experts, Publics, and the Politics of Central Banking. Riles is also host the Foreign Policy podcast Everyday Ambassador, which its new second season out now. What would democratizing the Fed look like, and would that really counter the powerful financial interests that have so thoroughly captured the institution?

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Welcome to What Just Happened, a Recall This Book experiment. In it you will hear three friends of RTB reacting to the 2024 election and discussing the coming four years. Mark Blyth (whose planned February 2020 appearance was scrubbed by the pandemic) is an international economist from Brown University, whose many books for both scholars and a popular audience include Great Transformations (2002), Angrynomics (2020; with Eric Lonergan) and (with Nicolo Fraccaroli) Inflation: A Guide for Users and Losers (New York: Norton 2025).

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Since the global financial crisis that began in 2008, the role of the financial sector in contemporary capitalism has come under increasing scrutiny. In the global North, the expansion of the financial sector over the last 40 years has paralleled a decline in manufacturing employment and an increase in personal indebtedness, giving rise to the perception that speculation and usury have come to replace production as the engine of economic growth. In the global South, financial liberalization has exacerbated long-standing patterns of boom-and-bust cycles, and the growth of the financial sector has caused anxieties that speculative investments in natural resource extraction, urban real estate, and rural farm land are dispossessing and displacing people rather than improving human development. Overall, the growth of the financial sector has created the perception that we’re entering a new phase in capitalism’s history in which speculation and rent-seeking have displaced production as the engines of economic growth.

My guest today, the political economist Nick Bernards, challenges this narrative. In his new book, Fictions of Financialization: Rethinking Speculation, Exploitation and Twenty-First Century Capitalism (Pluto Press, 2024), Bernards argues that we need to re-center labor in narratives about the expansion of finance, that speculation and the subsumption of nature are always central to capitalism, and that major private-sector financial institutions have actually been reluctant to invest in major development projects in the global south. The main problem with the growth of finance is that it makes more exploitation, displacement, and environmental damage – in short, more capitalism – possible.

Nick Bernards is Associate Professor of Global Sustainable Development at the University of Warwick. He is the author of A Critical History of Poverty Finance (Pluto, 2022) and The Global Governance of Precarity (Routledge, 2018).

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How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.”

China’s e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China.

Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China’s regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance.

Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China.

Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China’s Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master’s of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy.

Lorentzen’s other NBN interviews relating to China’s tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba’s business model and organizational culture, Surveillance State, on China’s digital surveillance, Prototype Nation, on the culture and politics of China’s innovation economy.

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Why do efforts to build effective states and deliver services to citizens so often go wrong? And how can understanding the inside of the political mind empower us to achieve better results? In this podcast, Nic Cheeseman talks to Greg Power about his important new book, based on the experience of working with hundreds of politicians in more than sixty countries. In Inside the Political Mind: The Human Side of Politics and How It Shapes Development (Oxford UP, 2024), Greg explains why individual politicians and norms of behaviour and more powerful than formal rules and institutions, and why practical challenges so often encourage citizens and politicians to go around the state rather than working through it. This leads to a radical new way of thinking about state-building and development that works from the bottom-up on the basis of what leaders and their people want, rather than what the international community assumes they need.

Guest:

Greg Power is the founder and Board Chair of Global Partners Governance Practice (GPG), a social purpose company that provides support to politicians, ministers and officials to strengthen their systems of governance. He is well known for having worked in a remarkable variety of countries including many – such as Iraq – during periods in which political systems and state institutions were under the most intense strain. He was previously a special adviser to British ministers Rt Hon Robin Cook MP and Rt Hon Peter Hain MP, working on strategies for parliamentary reform, constitutional change and the wider democratic agenda in conjunction with the Prime Minister’s Strategy Unit and Downing Street policy staff, and was awarded an OBE for services to parliamentary democracy and political reform in the January 2023 New Year’s Honours.

Presenter:

Nic Cheeseman is the Professor of Democracy and International Development at the University of Birmingham and Founding Director of CEDAR.

The People, Power, Politics podcast brings you the latest insights into the factors that are shaping and re-shaping our political world. It is brought to you by the Centre for Elections, Democracy, Accountability and Representation (CEDAR) based at the University of Birmingham, United Kingdom. Join us to better understand the factors that promote and undermine democratic government around the world and follow us on Twitter at @CEDAR_Bham!

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This is episode three Cited Podcast’s new season, the Use & Abuse of Economic Expertise. This season tells stories of the political and scholarly battles behind the economic ideas that shape our world. For a full list of credits, and for the rest of the episodes, visit the series page.

For much of the 20th century, few economists studied inequality. “Watching the study of inequality was like watching the grass grow,” is the way inequality scholar James K. Galbraith put it to us. Yet, the inequality studies grass is growing today–really, it’s something of a lush jungle. Arguably, the return of inequality studies is biggest change that has happened in economics over the last decade or so. Why did it return? Just as importantly, how could it have possibly disappeared? On this episode, we survey the broad political and intellectual history of inequality studies in economics.

First, economist Branko Milanovic, author of Visions of Inequality: From the French Revolution to the End of the Cold War, introduces us to a few of the reasons why inequality was marginalized, including the mathematization of the economic mainstream. In short, we sidelined the political in political economy. Then, political theorist Michael Thompson, author of The Politics of Inequality: A Political History of the Idea of Economic Inequality in America, introduces us to the work of Frank Knight and other market-friendly economists who provided ideological justification for widening inequality. Finally, inequality scholar Poornima Paidipaty, speaks to us about the return of inequality studies, particularly through the landmark work of Thomas Piketty. Yet, Paidipaty and her co-author Pedro Ramos Pinto highlight some of the limits of Picketty’s vision in their article “Revisiting the “Great Levelling”: The limits of Piketty’s Capital and Ideology for understanding the rise of late 20th century inequality.”

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In this episode, Dr. Shahar Hameiri and Dr. Lee Jones discuss the political economy and financing behind global infrastructure development, with a focus on China’s Belt and Road Initiative (BRI). The discussion explores the driving forces behind Chinese infrastructure investment, while addressing the crucial question of why American and European initiatives such as Global Gateway and the Program for Global Infrastructure and Investment struggle to compete with the BRI. We discuss dynamics of public and private finance, the role of public-private partnerships, and the challenges private investors face. Importantly, this episode reveals the U.S. Development Finance Corporation’s increasing reliance on private capital, and the decline of the construction sector in the U.S. economy. This comprehensive view shows how different financing and development models shape the global infrastructure landscape, how infrastructure development has evolved into its current state, and novel fields of competition, such as undersea Internet cables.

Hameiri and Jones are co-authors of Fractured China: How State Transformation is Shaping China's Rise (Cambridge University Press, 2021).

Dr. Hameiri is Professor in the School of Political Science and International Relation at The University of Queensland. A political economist with diverse research interests, traversing the fields of security, development and aid, governance, political geography and international relations, he is interested in understanding the evolving nature of statehood and political agency under conditions of globalisation. His books include International Intervention and Local Politics (Cambridge University, 2017), Governing Borderless Threats: Non-Traditional Security and the Politics of State Transformation (Cambridge University Press, 2015), and Regulating Statehood (Palgrave Macmillan, 2010), and he is a co-editor for the fourth edition of The Political Economy of Southeast Asia: Poliltics and Uneven Development Under Hyperglobalisation (Palgrave Macmillan, 2020). X: @ShaharHameiri.

Dr. Jones is Professor in International Politics at the Queen Mary University of London. Lee specialises in political economy and international relations, focusing on the politics of intervention, security, and governance, with a particular interest in social conflict and the transformation of states. Much of his work focuses on Southeast Asia and China. Lee regularly advises the British and other governments and civil society organisations and has often appeared in the national and international media. A fellow of the Higher Education Academy, he also sits on the board of Palgrave’s series Studies in the Political Economy of Public Policy, and the ESRC’s peer review college. For further information see www.leejones.tk.

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So many talented young people receive a great education and set out to make a difference in the world. Yet, they often find the global institutions on that path difficult to understand, hard to get into, and even harder to navigate. Emiliana Vegas provides a deeply personal and informative guide to building a career in international development for current and aspiring changemakers.

Let's Change the World: How to Work within International Development Organizations to Make a Difference (Rowman & Littlefield, 2024) dives into the key lessons and specific takeaways the author has learned throughout her twenty years working in international development organizations. Vegas's passion for the power of education comes through on every page of this book and now she is sharing what she has learned to help others achieve the same success. Through insider tips, best practices, and targeted advice, readers will come away with a clear picture of how these organizations really work, how you can get in and thrive, and how to make a real difference from the inside out.

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Following the Great Depression, as the world searched for new economic models, Brazil and Portugal experimented with corporatism as a “third path” between laissez-faire capitalism and communism. In a corporatist society, the government vertically integrates economic and social groups into the state so that it can manage labor and economic production. In the 1930s, the dictatorships of Getúlio Vargas in Brazil and António de Oliveira Salazar in the Portuguese Empire seized upon corporatist ideas to jump-start state-led economic development. In A Third Path: Corporatism in Brazil and Portugal (Princeton University Press, 2024), Dr. Melissa Teixeira examines these pivotal but still understudied initiatives.

What distinguished Portuguese and Brazilian corporatism from other countries’ experiments with the mixed economy was how Vargas and Salazar dismantled liberal democratic institutions, celebrating their efforts to limit individual freedoms and property in pursuit of economic recovery and social peace. By tracing the movement of people and ideas across the South Atlantic, Teixeira vividly shows how two countries not often studied for their economic creativity became major centers for policy experimentation. Portuguese and Brazilian officials created laws and agencies to control pricing and production, which in turn generated new social frictions and economic problems, as individuals and firms tried to evade the rules. And yet, Teixeira argues, despite the failings and frustrations of Brazil’s and Portugal’s corporatist experiments, the ideas and institutions tested in the 1930s and 1940s constituted a new legal and technical tool kit for the rise of economic planning, shaping how governments regulate labor and market relations to the present day.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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In this deeply researched and compelling narrative, journalist Mara Kardas-Nelson examines the complex history and impact of microfinance - the practice of giving small loans to poor people, particularly women, that was once hailed as a revolutionary solution to global poverty. Through intimate portraits of borrowers in Sierra Leone and extensive interviews with key figures in the microfinance movement, Kardas-Nelson reveals how an idea that began with noble intentions became a multi-billion dollar industry with sometimes devastating consequences for the very people it aimed to help.

We Are Not Able to Live in the Sky: The Seductive Promise of Microfinance (Metropolitan Books, 2024) weaves together two parallel narratives: the stories of women in Sierra Leone struggling with high-interest microloans while trying to support their families, and the history of how microfinance evolved from a small experiment into a global phenomenon championed by the likes of Hillary Clinton and Muhammad Yunus. Through careful reporting and historical analysis, Kardas-Nelson explores how problematic ideologies about poverty, entrepreneurship, and individual responsibility shaped the development of microfinance programs, often overlooking local economic realities and existing informal lending practices.

What makes this book particularly valuable is how it challenges conventional narratives about microfinance without dismissing the real needs that drive people to seek these loans. Through detailed portraits of women in Sierra Leone, Kardas-Nelson shows how borrowers navigate a complex web of debt, social obligations, and economic pressures. The author raises important questions about whether encouraging poor people to take on high-interest debt is truly the best way to address poverty, while also examining alternative approaches like direct cash transfers and comprehensive social services.

This timely investigation offers crucial insights for anyone interested in international development, poverty alleviation, and the often unintended consequences of well-meaning interventions in the lives of the world's poor. Through meticulous reporting and thoughtful analysis, Kardas-Nelson challenges readers to think more critically about how we approach poverty alleviation and what truly constitutes meaningful economic development.

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Peoples & Things host, Lee Vinsel, talks with Salem Elzway, postdoctoral fellow in the Society of Fellows in the Humanities at University of Southern California, and Jason Resnikoff, assistant professor of contemporary history at the University of Groningen, about the history of automation. The discussion takes as its launching point an essay Elzway and Resnikoff published in the journal Labor titled, “Whence Automation?: The History (and Possible Futures) of a Concept.” The conversation approaches the history of automation and how to study it from a number of angles, including diving into Elzway’s and Resnikoff’s individual research agendas, as well as discussion of the nature of collaborative work in history, a field that can sometimes be all-too competitive and turf-like.

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Oil is everywhere. It’s in our cars, it’s in the fertilizer used to grow our food, and it’s in the plastics used to produce and transport our consumer goods, to name just a few prominent uses. How did oil come to occupy its central position in the world economy? How did corporate power shape the uptake, pricing, and distribution of oil and petrochemicals? And how have changes in oil markets affected broader trends in the global economy? In Crude Capitalism: Oil, Corporate Power, and the Making of the World Market (Verso, 2024), my guest Adam Hanieh tackles all of these questions by tracing the history and diverse geographies of oil. His narratives weaves together links between oil, geopolitics, high finance, the evolution of corporate organization, and the environment.

Adam Hanieh is Professor of Political Economy and Global Development at the University of Exeter in the UK. He is currently a Distinguished Visiting Professor at Tsinghua University in Beijing. He is previous books are Lineages of Revolt (2013) and Money, Markets, and Monarchies: The Gulf Cooperation Council and the political economy of the contemporary Middle East (2020).

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This is episode two Cited Podcast’s new season, the Use & Abuse of Economic Expertise. This season tells stories of the political and scholarly battles behind the economic ideas that shape our world. For a full list of credits, and for the rest of the episodes, visit the series page.

This episode looks at shifting landscape of economic thinking within the Democratic Party. First, historian Lily Geismer, author of Left Behind: The Democrats’ Failed Attempt to Solve Inequality, tells us the story of how the Democrats became captured by the Clintonian ‘Third Way.’ The Third Way argued that economic policy should move away from the sunset industries, like the unionized industrial labour that typically made the Democratic base, and move towards the sunrise industries of tech and finance.

Then, the Biden team came to see this thinking as precipitating the rise of Trumpism. So free-wheeling trade and industrial policy is out, and the Clinton-era neoliberal consensus just is not a consensus anymore–some even claim neoliberalism is dead. Bidenomics replaced it, whatever that is. Yet, Bidenomics was a political dud, and now it looks like it might be on the way out. Where is the US’ economic policy thinking going on November 5th, and beyond? We try to figure that out, with the help of political economist Mark Blyth, author of the forthcoming Inflation: A Guide for Users and Losers.

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From the emergence of money in the ancient world to today’s interconnected landscape of high-frequency trading and cryptocurrency, the story of finance has always taken place on an international stage. Finance is one of the most globalized and networked of human activities, and one of the most important social technologies ever invented.

Atlas of Finance: Mapping the Global Story of Money (Yale University Press, 2024) by Dr. Dariusz Wójcik is the first visually based book dedicated to finance and uses graphics and maps to bring the complex and abstract world of finance down to earth, showing how geography is fundamental for understanding finance, and vice versa. It illuminates the people—including Adam Smith, Karl Marx, and John Maynard Keynes—who have shaped our thinking about global finance; brings to life the ways that place-specific histories, laws, regulations, and institutions influence finance; shows how finance relates to innovation, globalization, and environmental change; and details how finance plays a key part in drawing the landscape of uneven development, inequality, and instability.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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At a time when critiques of free trade policies are gaining currency, The Neomercantilists: A Global Intellectual History (Cornell UP, 2021) helps make sense of the protectionist turn, providing the first intellectual history of the genealogy of neomercantilism. Eric Helleiner identifies many pioneers of this ideology between the late eighteenth and early twentieth centuries who backed strategic protectionism and other forms of government economic activism to promote state wealth and power. They included not just the famous Friedrich List, but also numerous lesser-known thinkers, many of whom came from outside of the West.

Helleiner's novel emphasis on neomercantilism's diverse origins challenges traditional Western-centric understandings of its history. It illuminates neglected local intellectual traditions and international flows of ideas that gave rise to distinctive varieties of the ideology around the globe, including in Latin America, the Caribbean, Africa, and Asia. This rich history left enduring intellectual legacies, including in the two dominant powers of the contemporary world economy: China and the United States.

The result is an exceptional study of a set of profoundly influential economic ideas. While rooted in the past, it sheds light on the present moment. The Neomercantilists shows how we might construct more global approaches to the study of international political economy and intellectual history, devoting attention to thinkers from across the world, and to the cross-border circulation of thought.

Eric Helleiner is an author and professor of political science and the Faculty of Arts Chair in International Political Economy at the University of Waterloo.

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.

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Are financial markets lawless and irrational? It may seem that way from the outside, but for market insiders there are multiples sets of rules that they break at their peril. 

Official rules set by law or by the exchanges exist alongside unofficial rules, or floor rules. Between these, it is the floor rules -- the norms followed by other insiders -- that matter most. Breaking an official rule might lead to a fine or even jail. Breaking floor rules can lead to being ostracized from markets as well as social and financial ruin.

In Floor Rules: Insider Culture in Financial Markets (Yale UP, 2024), Mark W. Geiger tells compelling stories of market disturbances in which insider rules played a key role. He examines the norms, customs, values, and operating modes of insiders at the center of financial markets that trade money, stocks, bonds, futures, and other financial derivatives. These core insiders are a relatively small group who govern the markets. 

The book tells the riveting story of Benjamin Hutchinson, who made national news for his dramatic 1888 wheat market corner in Chicago, in which he outsmarted four powerful traders who had joined to force him out of the market, survived a life-threatening physical assault on the trading floor, and almost brought down the Chicago wheat market. 

It also unpacks the LIBOR scandal of 2008 in which bankers in major international firms manipulated interbank loan rates to inflate their own profits at the expense of investors and at tremendous risk to the industry. 

Geiger analyzes the cultural history of market trading, describes the role of insiders, and suggests where this peculiar, ingrown culture is heading in an era of technological change.

The book releases on October 29, the 95th anniversary of the Black Tuesday crash of 1929, the beginning of the Great Depression. 

Related resources:

• Mark Geiger's personal website and portfolio of generative AI artwork

Author recommended reading:

• Den of Thieves by James B. Stewart
• Phishing for Phools: The Economics of Manipulation and Deception by George A. Akerlof and Robert J. Shiller

Hosted by Meghan Cochran 

NOTE: Kluge Fellow at the Library of Congress should have been pronounced with a hard "g" as in kloo-ghee.

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Sequels, reboots, franchises, and songs that remake old songs—does it feel like everything new in popular culture is just derivative of something old? Contrary to popular belief, the reason is not audiences or marketing, but Wall Street. In this book, Andrew deWaard shows how the financial sector is dismantling the creative capacity of cultural industries by upwardly redistributing wealth, consolidating corporate media, harming creative labor, and restricting our collective media culture. Moreover, financialization is transforming the very character of our mediascapes for branded transactions. Our media are increasingly shaped by the profit-extraction techniques of hedge funds, asset managers, venture capitalists, private equity firms, and derivatives traders. Illustrated with examples drawn from popular culture, Derivative Media: How Wall Street Devours Culture (University of California Press, 2024) offers readers the critical financial literacy necessary to understand the destructive financialization of film, television, and popular music—and provides a plan to reverse this dire threat to culture.

A free digital version of this title is available here.

Andrew deWaard is Assistant Professor of Media and Popular Culture at the University of California, San Diego, and coauthor of The Cinema of Steven Soderbergh: Indie Sex, Corporate Lies, and Digital Videotape.

Peter C. Kunze is assistant professor of communication at Tulane University.

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Economics sometimes feels like a physics–so sturdy, so objective, and so immutable. Yet, behind every clean number or eye-popping graph, there is usually a rather messy story, a story shaped by values, interests, ideologies, and petty bureaucratic politics. In Cited Podcast’s new mini-series, the Use and Abuse of Economic Expertise, we tell the hidden stories of the economic ideas that shape our world. For future episodes of our series, and a full list of credits, visit our series page.

On episode one, we begin at the beginning: the invention of the modern economy, or at least the idea of the economy. It starts with one measure: the GDP, or gross domestic product. It’s a measure that comes to define what we mean by ‘the economy.’ Before GDP, we did not really speak in those terms. Cited producer Alec Opperman talks to sociologist Dan Hirshman, who brings the story of the man who pioneered the GDP, Simon Kuznets. Yet, the GDP was not the measure the Kuznets hoped it would be. It’s a story that reveals the surprisingly contentious politics of counting things up.

Plus, what about alternatives to GDP? The Genuine Progress Indicator, the Human Development Index, the Green GDP, and so on. These measures are said to be more progressive, as they often capture things we value (like, care work for instance), and subtracting out things we could use less off (like, environmental degradation). Scholars and policy wonks have been raging about these types of measures for decades, but they have not taken off. Why? Economic historian Dirk Philipsen, author of The Little Big Number: How GDP Came to Rule the World and What to Do About It (Princeton UP, 2017), talks to Alec about why a good number alone is never enough to change the world.

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Discussing money is always accompanied by controversy as well as enchantment. Debating what money is and how it performs its main functions in the contemporary economy is fundamental to understanding the social consequences of money transformation associated with the digital revolution. This book explores the links between the current and prospective properties of money, its production, and its relationship to the concepts of value, the common good, and innovation.

Contested Money: Towards a New Social Contract (Routledge, 2023) opens a debate on the role that money could play in a different paradigm based on a renewed conception of monetary properties and functions that are capable of having a positive impact on social and individual welfare. Massó outlines the fundamentals of this monetary model, which would operate as a parallel currency, where the processes of monetary and value creation are connected in a new deal between the citizen and the state, grounded on an approach of reciprocal rights and responsibilities.

This book will appeal to scholars, students, and, more broadly, readers interested in a contemporary understanding of what money is, how it is being transformed, and the role that it can play in redefining the twenty-first-century social contract.

Matilde Massó is an Associate Professor of Sociology in the Department of Sociology and Communication Sciences at the University of A Coruña (UDC). Her main research interests focus on the transformations of money, the role of culture and emotions in economic processes, and how technological innovation is shaping a new conception of the economy concerning theories of justice. She has extensive experience leading research projects in economic sociology, particularly in financialization studies, the sociology of money, and financial innovation. Her recent publications include Contested Money (Routledge, 2024) and Why Money Matters? (Journal of Economic Issues, 2023). Additionally, she was awarded a Marie Curie IF Action in 2016.

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A radical new reading of eighteenth-century British theorist Thomas Robert Malthus, which recovers diverse ideas about subsistence production and environments later eclipsed by classical economics

With the publication of Essay on the Principle of Population and its projection of food shortages in the face of ballooning populations, British theorist Thomas Robert Malthus secured a leading role in modern political and economic thought. In this startling new interpretation, Deborah Valenze reveals how canonical readings of Malthus fail to acknowledge his narrow understanding of what constitutes food production.

Valenze returns to the eighteenth-century contexts that generated his arguments, showing how Malthus mobilized a redemptive narrative of British historical development and dismissed the varied ways that people adapted to the challenges of subsistence needs. She uses history, anthropology, food studies, and animal studies to redirect our attention to the margins of Malthus’s essay, where activities such as hunting, gathering, herding, and gardening were rendered extraneous. She demonstrates how Malthus’s omissions and his subsequent canonization provided a rationale for colonial imposition of British agricultural models, regardless of environmental diversity.

By broadening our conception of human livelihoods, Valenze suggests pathways to resistance against the hegemony of Malthusian political economy. The Invention of Scarcity: Malthus and the Margins of History (Yale UP, 2023) invites us to imagine a world where monoculture is in retreat and the margins are recentered as spaces of experimentation, nimbleness, and human flourishing.

Deborah Valenze is the Ann Whitney Olin Professor of History at Barnard College. A recipient of numerous fellowships, she has written four previous books on British culture and economic life. She lives in Cambridge, MA, and New York City.

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.

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What is the role of India in the Second Cold War (SCW) in South Asia? How do local histories, internal politics, and subnational dynamics shape relations with India and China? How does connectivity and infrastructure become a tool for geopolitical competition in the region, from China’s BRI to India’s infrastructural collaboration, and the US’s Millennium Challenges Corporation? On this episode we sit down with Dr. Dinesh Paudel and Aaron Magunna to answer these questions and discuss how it unfolds through cases in the Maldives and Nepal. A wide-ranging conversation, we learn about a rising India, India-China tensions, and how local politics shape the regional SCW.

Dr. Dinesh Paudel is a Professor in the Sustainable Development Department at Appalachian State University. His current research focuses on exploring the relationships and entanglements between the rising Asian economies, growing environmental degradations and rapidly expanding infrastructure in the Himalaya. He has written extensively on infrastructure and the Belt and Road Initiative in Nepal.

Aaron Magunna is a PhD student at the University of Queensland in Australia. His research focuses primarily on how countries in Asia, particularly India and Japan, respond to China-US competition by adapting their security, trade, and technology policies.

Resources:

• Paudel, Dinesh. 2021. Himalayan BRI: an infrastructural conjuncture and shifting development in Nepal. Area Development and Policy.
• Paudel, D., & Rankin, K. (2022). Himalayan geopolitical competition and the agency of the infrastructure state in Nepal. In The Rise of the Infrastructure State (pp. 213-226). Bristol University Press.

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What is the future of the film industry? In Mobile Hollywood Labor and the Geography of Production (U California Press, 2024), Kevin Sanson, Professor of Media Studies and Head of the School of Communication at Queensland University of Technology, examines the way Hollywood film production has become a global industry. The book theorises Hollywood as a distinct spatial assemblage, and examines the consequences of the rise of global, mobile film production for places and for workers. Offering a unique perspective on the challenges of this new mode of production, alongside insights on how ‘good work’ can be defended and preserved in media industries, the book is essential reading across the humanities and social sciences, as well as for anyone interested in media today. The book is also available open access here.

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When U.S. presidents clash with corporate titans, what tips the balance of power?

In The Power and the Money: The Epic Clashes Between Commanders in Chief and Titans of Industry (Regnery History, 2024), acclaimed presidential historian Tevi Troy takes readers on a riveting journey through the biggest battles between CEOs and the nation's commander in chief. He unearths the untold stories - both political and personal - that have shaped America.

Troy shows how the vast reach of the federal government become a critical fact of life for every business, entrepreneur, and innovator. Today, companies find themselves navigating a competitive landscape defined by stringent regulations, so top CEOs and key business leaders must influence the legislative and regulatory system. As public affairs teams and government relations experts put forward strategies to survive Washington, CEOs have become the most important warrior on the frontlines. The Power and the Money shows how some of the nation's most important CEOs forged (and fumbled) relationships with the president.

Troy also shows how the most powerful man in the world depends on CEOs. CEOs provide assistance in the form of personnel, policy insights, and campaign cash, but they also become essential foils for presidents, serving as both allies and convenient enemies.

The Power and the Money reveals an intricate web of power, where CEOs need presidents, and presidents need CEOs. Troy shows how each must step carefully - or risk unpredictable costs and collateral damage. From heavyweights John D. Rockefeller and Mark Zuckerberg to Katherine Graham, Elon Musk, and more, Troy takes readers inside the friendships and the conflicts that shook the American economy and re-shaped America.

Drawing on his experiences as bestselling historian and former senior White House aide, Troy offers unique insights and details that shed light on the growing, intertwining behemoths of government and big business - and what it means for the future of our nation.

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A clarion call for justice in the quest for clean energy California’s Salton Sea region is home to some of the worst environmental health conditions in the country. Recently, however, it has also become ground zero in the new “lithium gold rush”—the race to power the rapidly expanding electric vehicle and renewable energy storage market. The immense quantities of lithium lurking beneath the surface have led to predictions that the region could provide a third of global demand. But who will benefit from the development of this precious resource? 

A work of stunning analysis and reporting, Charging Forward: Lithium Valley, Electric Vehicles, and a Just Future (The New Press, 2024) shows that the questions raised by Lithium Valley lie at the heart of the “green transition.” Weaving together movement politics, federal policy, and autoworker struggles, noted experts Chris Benner and Manuel Pastor stress that getting the lithium out from under the earth is just a first step: the real question is whether the region and the nation will get out from under the environmental degradation, labor exploitation, and racial injustice that have been as much a part of the landscape as the Salton Sea itself. What happens in Lithium Valley, the authors argue, will not stay there. This tiny patch of California is a microcosm of the broad climate challenges we face; understanding Lithium Valley today is the key to grasping the future of our economy and our planet.

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In this episode of Madison's Notes, we sit down with Dennis Unkovic to discuss his latest book, The Fragility of China (Encounter Books, 2024). Unkovic delves into the complex forces shaping China's political, economic, and social landscape. From the country's rising internal challenges to its evolving role on the global stage, Unkovic offers a nuanced perspective on why China's future may be more uncertain than it appears. He unpacks the key themes of his book, including economic instability, demographic shifts, and geopolitical tensions, while offering insights into what these trends mean for the rest of the world.

Dennis Unkovic is an international attorney with decades of experience advising global businesses on trade, investment, and international relations. He is a prolific author and speaker, known for his expertise in U.S.-Asia relations. In addition to The Fragility of China, Unkovic has authored several books and articles on global trade and economic issues.

Madison’s Notes is the podcast of Princeton University’s James Madison Program in American Ideals and Institutions.

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What threatens American democracy and the rule of law? In her new book, Corporatocracy: How to Protect Democracy from Dark Money and Corrupt Politicians (NYU Press, 2024),

legal scholar and campaign spending expert Ciara Torres-Spelliscy argues that the USA’s privately-funded campaign finance system – combined with corporate greed and antidemocratic strains in the modern Republican Party – endangers American democracy. As she sees it, unseen political actors and untraceable dark money influence our elections, while anti-democratic rhetoric threatens a tilt towards authoritarianism.

Drawing on key Supreme Court cases such as Citizens United, Professor Torres-Spelliscy explores how corporations have undermined democratic norms, practices, and laws. From bankrolling regressive politicians to funding ghost candidates with dark money, the book exposes how corporations subvert the will of the American people – yet courts struggle to hold corporate interests and corrupt politicians accountable. If American democracy is going to survive in the long term, then the deep pockets of the largest corporations cannot be allowed to join focus with the anti-democratic fringe. Professor Torres-Spelliscy fears a repeat of the January 6th insurrection – but with expansive corporate sponsorship.

Professor Torres Spelliscy outlines the ways in which Corporate forces might be held accountable by the courts, their shareholders, and citizens themselves. Along with other reforms, she proposes a democracy litmus test that requires loyalty to democracy in politics and the economy.

The end of the podcast features her insights on how oil interests crypto “techno bros” have invested in the outcome of the November 2024 election.

Ciara Torres-Spelliscy is a Professor of Law at Stetson Law. She is also a Brennan Center Fellow at NYU Law School who has testified before Congress as an expert on campaign finance and has helped draft Supreme Court briefs. Previously, she authored Corporate Citizen (Carolina 2016) and Political Brands (Elgar 2019). She has recently written about public financing and the Eric Adams indictments and crypto spending in the 2024 election.

Mentioned in the podcast:

• Judd Legum's work on corporate PACs in his Substack, Popular Information
• Photo with Barack Obama for which Jho Low paid $20 million can be seen here
• Example of 2022 media attempts to identify “sedition caucus” and election deniers for voters

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There was nothing inevitable or natural about the rise of US finance capitalism in the early twentieth century. 

In Dollars and Dominion: US Bankers and the Making of a Superpower, Mary Bridges shows how US foreign banking began as a side hustle of Gilded Age tycoons and evolved into a more staid, bureaucratized network for bolstering US influence overseas. The early waves of US bankers built a network of international branch banks that relied on the power of the US government, copied the example of British foreign bankers, and built new alliances with local elites.  

Overseas bank branches provided sites for experimentation in how to fuse US political will with local innovations and on-the-ground improvisation. In the process, branch bankers constructed a flexible and durable new infrastructure that supported the growth of US power abroad. 

Using details from ledger entries and other sources, Bridges shows how these branch bankers divided their local communities into groups of “us” and "them," either as potential clients or local populations. In doing so, they constructed a new architecture of US trade finance that relied on long-standing inequalities and hierarchies of privilege. Thus, ideas developed by wealthy white men became part of the enduring fabric of financial infrastructure. She also shows how bank branches could accommodate these hierarchies to make room for new ideas about serving local markets, in response to financial pressures of the 1920s and after the Great Depression cut off other avenues of growth. 

Bridges also tells the story of how US bankers created a market based on a new financial asset enabled by the Federal Reserve System called bankers' acceptance and began to collect vast amounts of foreign credit information. 

Related resources:

• Bankers and Empire: How Wall Street Colonized the Caribbean by Peter James Hudson
• Infrastructure Is Remaking Geopolitics: How Power Flows from the Systems That Connect the World by Mary Bridges 

Author recommended reading:  

• Plastic Capitalism: Banks, Credit Cards, and the End of Financial Control by Sean H. Vanatta
• The War Below: Lithium, Copper, and the Global Battle to Power Our Lives by Ernest Scheyder

Hosted by Meghan Cochran 

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State capitalism. Socialism with Chinese characteristics. A socialist market economy. There have been numerous descriptions of the Chinese economy. However, none seems to capture the predatory, at times surreal, nature of the economy of the world’s most populous nation – nor the often bruising and mind-bending experience of doing business with the Middle Kingdom.

Ian Williams, a long-standing reporter on China, has a new argument in Vampire State: The Rise and Fall of the Chinese Economy (Birlinn, 2024). 

Rules and agreements mean little. Markets are distorted, statistics fabricated, foreign industrial secrets and technology systematically stolen. Companies and entrepreneurs, at home and abroad, are bullied – often with the collusion of the victims themselves. The Party is in every boardroom and lab, with businesses thriving or dying at its will. 

All this is part of realising President Xi Jinping’s ambition of China becoming the world’s pre-eminent economic, technological and military power.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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Join us as we discuss Dr. Reid Blackman’s new book: Ethical Machines: Your Concise Guide to Totally Unbiased, Transparent, and Respectful AI (Harvard Business Review Press, 2022). We dive into the intricacies of developing AI and the intersection of ethics and innovation.

Reid Blackman, Ph.D., is the author of Ethical Machines, creator and host of the podcast “Ethical Machines,” and Founder and CEO of Virtue, a digital ethical risk consultancy. He is also an advisor to the Canadian government on their federal AI regulations, was a founding member of EY’s AI Advisory Board, and a Senior Advisor to the Deloitte AI Institute. His work, which includes advising and speaking to organizations including AWS, US Bank, the FBI, NASA, and the World Economic Forum, has been profiled by The Wall Street Journal, the BBC, and Forbes. His written work appears in The Harvard Business Review and The New York Times. Prior to founding Virtue, Reid was a professor of philosophy at Colgate University and UNC-Chapel Hill. Learn

Madison’s Notes is the podcast of Princeton University’s James Madison Program in American Ideals and Institutions

Contributions to and/or sponsorship of guest does not constitute departmental or institutional endorsement of the specific program, speakers or views presented.

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In The Black Tax: 150 Years of Theft, Exploitation, and Dispossession in America (U Chicago Press, 2024), Andrew W. Kahrl uncovers the history of inequitable and predatory tax laws in the United States. He examines the structural traps within America’s tax system that have forced Black Americans to pay more for less despite being taxpayers with fewer resources compared to white taxpayers. Kahrl exposes these practices, From Reconstruction up to the present, Kahrl exposes these practices to describe how discrimination continues to take new forms, even as people continue to fight for their rights, their assets, and their power.

Dr. N’Kosi Oates is a curator. He earned his Ph.D. in Africana Studies at Brown University. Find him on Twitter at DrNKosiOates.

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In the twenty-first century, infrastructure has undergone a seismic shift from West to East. Once concentrated in Europe and North America, global infrastructure production today is focused squarely on Asia. Infrastructure and the Remaking of Asia (U Hawaii Press, 2022) investigates the deeper implications of that pivot to the East. Written by leading international infrastructure experts, it demonstrates how new roads, airports, pipelines, and cables are changing Asian economies, societies, and geopolitics—from the Bosporus to Beijing, and from Indonesia to the Arctic. Ten tightly interwoven case studies powerfully illustrate infrastructure’s leading role in three global paradigm shifts: climate change, digitalization, and China’s emergence as a superpower.

Combining social science methods with mapping techniques from the design professions, Infrastructure and the Remaking of Asia establishes a dialogue between academic research on infrastructure and the professional insights of those responsible for infrastructure’s planning, production, and operation. By applying that mixed method to transport, energy, telecommunication, and resource extraction projects across Asia, the book synthesizes research on infrastructure from six academic fields, while making those insights accessible to a wider audience of students, professionals, and the general public.

Max Hirsh is managing director of the Airport City Academy and a research fellow at the University of Colorado Boulder. He holds a PhD in urban planning from Harvard and is the author of Airport Urbanism: Infrastructure and Mobility in Asia. Max's research investigates the relationship between air travel and urban form.

Till Mostowlansky is a Research Professor in the Department of Anthropology and Sociology at the Geneva Graduate Institute and the Principal Investigator of the Swiss National Science Foundation funded project “Quiet Aid: Service and Salvation in the Balkans-to-Bengal-Complex”. He is currently a Visiting Professor at the Kyiv School of Economics.

Yadong Li is a PhD student in anthropology at Tulane University. His research interests lie at the intersection of the anthropology of state, the anthropology of time, hope studies, and post-structuralist philosophy. More details about his scholarship and research interests can be found here.

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Peoples & Things host, Lee Vinsel, talks to Emily Bender, Professor of Linguistics, Director of the Masters of Science in Computational Linguistics program, and Director of the Computational Linguistics Laboratory at University of Washington, about her work on artificial intelligence criticism. Bender is also an adjunct professor in the School of Computer Science and Engineering and the Information School at UW; she is a member of the Tech Policy Lab, the Value Sensitive Design Lab, the Distributed AI Research Institute, and RAISE, or Responsibilities in AI Systems and Experiences; *AND*, with Alex Hanna, she is co-host of the Mystery AI Hype Theater podcast, which you should check out. Vinsel and Bender talk about the current AI bubble, what is driving it, and the technological potentials and limitations of this technology.

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After close to three decades of the hegemony of free market ideas, the state has made a big comeback as an economic actor since the 2008 financial crisis. China’s state-owned companies and international financial institutions have made headlines for their growing influence in the world economy. State-backed investment vehicles based in the Gulf states have made high-profile investments in global real estate markets and professional sports, while their state-owned firms have become world leaders in the logistics and natural resource sectors. Governments around the world – including in the heartlands of advanced capitalism – have promoted the interests of ‘national champion’ companies in strategic economic sectors, bailed out financial institutions by taking toxic assets off of their balance sheets, and implemented industrial policies with the aim of moving into the most profitable segments of global value chains.

What accounts for this renewed prominence of states in global capitalism? Does the increased activism of states mark the end of neoliberal hegemony? And how do contemporary state-led economic initiatives compare to the heyday of Keynesian and developmentalist policy agendas in the decades immediately following World War II?

The book that we are discussing today, The Spectre of State Capitalism (Oxford UP, 2024) by Ilias Alami and Adam Dixon, marks the culmination of a highly productive research project that the authors have led on the compulsions and constraints that shape the ‘new’ state capitalism. The book aims to challenge narratives that pathologize state capitalism as an authoritarian deviation from the ‘normal’ course of free market capitalism while also showing how new forms of state activism depart from earlier models of state-led development.

Ilias Alami is a University assistant professor in the political economy of development at Cambrdige University. His previous book is Money Power and Financial Capital in Emerging Markets (2019). Adam Dixon holds the Adam Smith Chair in Sustainable Capitalism at Heriot Watt University’s Ediburgh Business School. He is the author of several books, most recently Sovereign Wealth Funds: Between States and Markets (2022).

This book is available open access here.

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From airport bookstores to deckchairs, as audiobooks downloaded by commuters, and on Kindles and other portable devices, twenty-first century bestsellers move in old and new ways. In Space, Place, and Bestsellers: Moving Books (Cambridge University Press Elements in Publishing and Book Culture series, 2024), Lisa Fletcher and Elizabeth Leane examine the locations and mobilities of the contemporary bestseller as a multi-format commercial object. It employs paratextual, textual, and site-based analysis of the spatiality of bestsellers and considers the centrality of geography to the commercial promise of these books. Space, Place, and Bestsellers provides analysis of the spatial logic of bestseller lists, evidence-rich accounts of the physical and digital retail sites through which bestsellers flow, and new interpretations of how affixing the label 'bestseller' individual authors and titles generates industrial, social, and textual effects. Through its multi-layered analysis, this book offers a new model for studying the spatiality of popular fiction.

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The achievement of Singapore’s national public housing program is impressive by any standard. Within a year of its first election victory in 1959, the People's Action Party began to deliver on its promises in dramatic fashion. By the 1980s, 85 percent of the population had been rehoused in modern flats, and today, decades later, the provision of public housing shapes Singapore's environment. The standard accounts of this remarkable transformation leave many questions unanswered, from the historical to urgent matters of current policy: Why, of all the pressing demands of Singapore's newly enfranchised citizens, was housing such a priority back in the 1960s? How did the provision of social welfare via public housing shape Singapore's industrialisation and development over the last 50 years? Looking ahead, can the HDB continue to be a source of affordable housing for young families, while long-standing appreciation in flat prices provides for the retirement of their parents? How can this be managed as 99-year leases on flats run down? When young people from wealthy families purchase subsidised flats and then resell them for a profit as soon as they can, what does that do for the already pressing issues of inequality in Singapore?

Public Subsidy, Private Accumulation: The Political Economy of Singapore's Public Housing (NUS Press, 2024) is a culmination of Dr. Chua Beng Huat's study of Singapore's public housing system, its dynamics, and the ways it functions in Singapore's politics. Does every great success hold within it the seeds of failure? The book will be of interest to citizens, and scholars of the political economy of Asian development, of social welfare provision, and of Singapore.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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Handcrafted Careers: Working the Artisan Economy of Craft Beer (U California Press, 2024) unpacks the problems and privileges of pursuing a career of passion by exploring work inside craft breweries.

As workers attempt new modes of employment in the era of the Great Resignation, they face a labor landscape that is increasingly uncertain and stubbornly unequal. With Handcrafted Careers, sociologist Eli Revelle Yano Wilson dives headfirst into the everyday lives of workers in the craft beer industry to address key questions facing American workers today: about what makes a good career, who gets to have one, and how careers progress without established models.

Wilson argues that what ends up contributing to divergent career paths in craft beer is a complex interplay of social connections, personal tastes, and cultural ideas, as well as exclusionary industry structures. The culture of work in craft beer is based around “bearded white guy” ideals that are gendered and racialized in ways that limit the advancement of women and people of color. A fresh perspective on niche industries, Handcrafted Careers offers sharp insights into how people navigate worlds of work that promote ideas of authenticity and passion-filled careers even amid instability.

Michael O. Johnston, Ph.D. is a Assistant Professor of Sociology at William Penn University. He is the author of The Social Construction of a Cultural Spectacle: Floatzilla (Lexington Books, 2023) and Community Media Representations of Place and Identity at Tug Fest: Reconstructing the Mississippi River (Lexington Books, 2022). His general area of study is at the intersection of built-environment, experience, identity, and place. He is currently conducting research on how architectural designers, builders, and community planners negotiate a sense of identity and place for residents of newly constructed neighborhoods. To learn more about Michael O. Johnston you can go to his website, Google Scholar, Twitter @ProfessorJohnst, or by email at johnstonmo@wmpenn.edu.

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Developing Asia has been the site of some of the last century's fastest growing economies as well as some of the world's most durable authoritarian regimes. Many accounts of rapid growth alongside monopolies on political power have focused on crony relationships between the state and business. But these relationships have not always been smooth, as anti-corruption campaigns, financial and banking crises, and dramatic bouts of liberalization and crackdown demonstrate. Why do partnerships between political and business elites fall apart over time? And why do some partnerships produce stable growth and others produce crisis or stagnation?

In Precarious Ties: Business and the State in Authoritarian Asia (Oxford UP, 2023) (Oxford, 2023), Meg Rithmire offers a novel account of the relationships between business and political elites in three authoritarian regimes in developing Asia: Indonesia under Suharto's New Order, Malaysia under the Barisan Nasional, and China under the Chinese Communist Party. All three regimes enjoyed periods of high growth and supposed alliances between autocrats and capitalists. Over time, however, the relationships between capitalists and political elites changed, and economic outcomes diverged. While state-business ties in Indonesia and China created dangerous dynamics like capital flight, fraud, and financial crisis, Malaysia's state-business ties contributed to economic stagnation.

To understand these developments, Rithmire, a professor at Harvard Business School, presents two conceptual models of state-business relations that explain their genesis and why variation occurs over time. She shows that mutual alignment occurs when an authoritarian regime organizes its institutions, or even its informal practices, to induce capitalists to invest in growth and development. Mutual endangerment, on the other hand, obtains when economic and political elites are entangled in corrupt dealings and invested in perpetuating each other's dominance. The loss of power on one side would bring about the demise of the other. Rithmire contends that the main factors explaining why one pattern dominates over the other are trust between business and political elites, determined during regime formation, and the dynamics of financial liberalization. Empirically rich and sweeping in scope, Precarious Ties offers lessons for all nations in which the state and the private sector are deeply entwined.

Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco. His research examines the political economy of governance and development in China.

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China today positions itself as a model of state-led environmentalism. On the country’s arid rangelands, grassland conservation policies have targeted pastoralists and their animals, blamed for causing desertification. State environmentalism - in the form of grazing bans, enclosure, and resettlement - has transformed the lives of many ethnic minority herders in China’s western borderlands. However, this book shows how such policies have been contested and negotiated on the ground, in the context of the state’s intensifying nation-building project.

Drawing on ethnographic fieldwork in Alasha, in the far west of China’s Inner Mongolia Autonomous Region, Thomas White describes how ethnic Mongols have foregrounded the local breed of Bactrian camel, mobilizing ideas of heritage and resource conservation to defend pastoralism. In exploring how the greening of the Chinese state affects the entangled lives of humans and animals at the margins of the nation-state, this study is both a political biography of the Bactrian camel and an innovative work of political ecology addressing critical questions of rural livelihoods, conservation, and state power.

Thomas White is lecturer in China and Sustainable Development at the Lau China Institute, King’s College London. His research interests include China’s borderlands, political ecology, infrastructure, and Sino-Mongolian relations. China's Camel Country: Livestock and Nation-Building at a Pastoral Frontier (U Washington Press, 2024) is his first monograph.

Yadong Li is a PhD student in anthropology at Tulane University. His research interests lie at the intersection of the anthropology of state, the anthropology of time, hope studies, and post-structuralist philosophy. More details about his scholarship and research interests can be found here.

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Behavioral scientist Alison Fragale offers powerful new insights and a practical playbook for women to advance in any workplace, full of tips, tricks, and strategies to help secure that elusive corner office.

Over decades of research, speaking engagements, and mentorship, psychologist and professor Alison Fragale encountered recurring questions from high powered and early career women alike: How do women thread the needle of kindness and competence in the workplace? How can women earn credit for their accomplishments, negotiate better, and navigate complex office politics without losing the goodwill of their peers?

Fragale investigated and determined that many women's workplace issues boil down to what psychologists call status: the perception of them by others. No amount of power-- no degree, title, or paycheck-- will raise a woman's workplace stature unless it also affects how others see her. Acknowledging this roadblock, Fragale pulls back the curtain on how we can change how others see us by developing our standing as a "likeable badass." By cultivating perceptions of warmth and assertiveness, women can achieve the kind of reputation that leads to a seat at the table and a fulfilling career path.

Likeable Badass: The New Science of Successful Women (Doubleday Books, 2024) is equal parts behavioral science and life hacks, weaving together rigorous research with actionable advice and impactful stories from a diverse array of women. This is a warm, heartening book written for women, their allies, and anyone who struggles to rise, and wants evidence-based, practical strategies for success, served with a side of inspiration and humor.

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Political Theorist David Lay Williams has a new book that traces the problem of economic inequality through the thought of many of the canonical thinkers in Western political theory. The Greatest of All Plagues: How Economic Inequality Shaped Political Thought from Plato to Marx (Princeton UP, 2024) explores the thought of Socrates and Plato, Jesus, Thomas Hobbes, Jean-Jacques Rousseau, Adam Smith, John Stuart Mill, and Karl Marx. We often turn to these thinkers and their various works to consider how best to establish political regimes and understand political power. But it is quite difficult to separate economics from politics, since these are both key parts of all societies. 

And this is the thrust of William’s work in The Greatest of All Plagues. We expect to find critiques of economics in Karl Marx or Adam Smith, given the focus of their political thought. But The Greatest of All Plagues demonstrates how vital the economic questions are for all of these western thinkers, and how concerned they each were with the concentration of wealth among the few within a society. This is a key component of the analysis in the book and in our conversation: “economic inequality” is a broad term and encompasses many complexities, but the thrust of the book is that each thinker is particularly concerned about the wealthy and the poor, and the destabilizing impact of a very few having great wealth. This is not to exclude poverty from the analysis, but much attention is often paid to the poor and ways to solve poverty. Scant attention is generally paid to the problem posed by excessive wealth, and the imbalance between those possessing great wealth and the rest of the society, and how this is problematic for political regimes and societies.

The Greatest of All Plagues: How Economic Inequality Shaped Political Thought from Plato to Marx is an impressive exploration of not only the work of these political thinkers, but also of the many scholars who have studied these works and these thinkers. There is much depth to this study, and the reader learns a great deal about the works themselves, the theorist under consideration in each chapter, historical context, and the interrelationship between politics and inequality. Williams is clear that his focus is on economic inequality in political theory, and not other, equally important inequalities. During the course of our conversation, we only touch on the surface of this complex and deep work. It is a worthy subject for investigation and this well-written and accessible book provides the reader with a rich discourse on the reason why we should pay attention to wealth inequality and how it contributes to societal instability, the corruption of character and soul, and how it remains an ongoing threat to justice, democracy, freedom and faith.

Lilly J. Goren is a professor of political science at Carroll University in Waukesha, WI. She is co-host of the New Books in Political Science channel at the New Books Network. She is co-editor of The Politics of the Marvel Cinematic Universe (University Press of Kansas, 2022), as well as co-editor of the award winning book, Women and the White House: Gender, Popular Culture, and Presidential Politics (University Press of Kentucky, 2012). She can be reached @gorenlj.bsky.social

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In Unexpected Revolutionaries: How Central Banks Made and Unmade Economic Orthodoxy (Cornell University Press, 2024), Dr. Manuela Moschella investigates the institutional transformation of central banks from the 1970s to the present.

Central banks are typically regarded as conservative, politically neutral institutions that uphold conventional macroeconomic wisdom. Yet in the wake of the 2008 global financial crisis and the 2020 COVID-19 crisis, central banks have upended observer expectations by implementing largely unknown and unconventional monetary policies. Far from abiding by well-established policy playbooks, central banks now engage in practices such as providing liquidity support for a wide range of financial institutions and quantitative easing. They have even stretched the remit of monetary policy into issues such as inequality and climate change.

Dr. Moschella argues that the political nature of central banks lies at the heart of these transformations. While formally independent, central banks need political support to justify their policies and powers, and to obtain it, they carefully manage their reputation among their audience selected officials, market actors, and citizens. Challenged by reputational threats brought about by twenty-first-century recessionary and deflationary forces, central banks such as the Federal Reserve System and the European Central Bank strategically deviated from orthodox monetary policies to preempt or manage political backlash and to regain public trust. Central banks thus evolved into a new role only in coordination with fiscal authorities and on the back of public contestation.

Eye-opening and insightful, Unexpected Revolutionaries is necessary reading for discussions on the future of the neoliberal macroeconomic regime, the democratic oversight of monetary policymaking, and the role that central banks canor cannotplay in our domestic economies.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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In this episode, we explore the insights of Jay Richards, author of The Human Advantage: The Future of American Work in an Age of Smart Machines (Forum, 2019). Richards wrote this book during a time when automation and technology were beginning to redefine the boundaries of human work and creativity. His core argument is that, despite the rise of machines, there are certain uniquely human qualities—such as creativity, moral judgment, and entrepreneurial spirit—that cannot be replicated by technology. These traits, he suggests, are what give us a distinct edge in the face of automation.

As we look at today's world, where artificial intelligence and machine learning have advanced at an unprecedented pace, we must ask: Do Richards' ideas still hold true? In an era where AI can perform tasks once thought to be the exclusive domain of humans, from creative endeavors to complex decision-making, is there still a clear-cut human advantage? Richards' book offers a lens through which to examine these questions, urging us to consider how we can harness our inherent strengths to adapt and thrive in this new landscape.

In our conversation, we dive deep into these questions, exploring the relevance of The Human Advantage in today's rapidly evolving technological environment. How can we, as individuals and as a society, ensure that we maintain and even enhance our human edge? What role do creativity, ethics, and entrepreneurship play in a world increasingly driven by algorithms and automation? This episode offers valuable insights for anyone grappling with the implications of modern technology on our work, lives, and future.

Jay Richards is an American analytical philosopher who focuses on the intersection of politics, philosophy, and religion. He is the William E. Simon Senior Research Fellow in Heritage’s DeVos Center for Religion and Civil Society at The Heritage Foundation

Madison’s Notes is the podcast of Princeton University’s James Madison Program in American Ideals and Institutions

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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 author of America's Kingdom: Mythmaking on the Saudi Oil Frontier (Stanford University Press, 2007), Robert Vitalis returns to disenchant us once again—this time from "oilcraft," a line of magical thinking closer to witchcraft than statecraft. Contrary to the deeply-held beliefs of hawkish foreign policy experts and career academics alike, oil is a commodity like any other: bought, sold, and subject to market forces. The House of Saud does many things for U.S. investors, firms, and government agencies, but guaranteeing the flow of oil, making it cheap, or stabilizing the price isn't one of them. Nevertheless, persistent fears of oil scarcity and conflict continue to breed real consequences. Robert Vitalis, Oilcraft: The Myths of Scarcity and Security That Haunt U.S. Energy Policy (Stanford UP, 2020) presses us to reconsider, among many things, the U.S.-Saudi special relationship, which confuses and traps many into unnecessarily accepting what we imagine is a devil's bargain. Along the way, Vitalis resurrects a forgotten school of critics of empire—a reprisal of his task in White World Order, Black Power Politics: The Birth of American International Relations (Cornell University Press, 2017).

Freeing ourselves from the spell of oilcraft won't be easy. But the benefits of doing so, and the drawbacks of not, make it essential.

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China’s One Belt One Road policy, or OBOR, represents the largest infrastructure program in history. Yet little is known about it with any certainty. How can something so large be so bewildering?

In One Belt One Road: Chinese Power Meets the World (Harvard East Asian Monographs, 2020), Eyck Freymann, a DPhil Candidate in China Studies at the University of Oxford, explores the nature, function, and purposes of OBOR. Drawing on primary documents in five languages, interviews with senior officials, and on-the-ground case studies in Sri Lanka, Tanzania, and Greece, Freymann sifts through the purposeful ambiguity of the Chinese Communist Party and unravels a series of popular myths about OBOR.

He finds that OBOR is not controlled by a monolithic state apparatus; that recipient nations do not consider OBOR a debt trap; and that appeal of OBOR is growing, not shrinking.

Ultimately, Freymann argues that the infrastructure projects are a sideshow to something else: Xi Jinping’s project to restore China’s greatness in world affairs and to solidify his place at the helm of the new Chinese empire. 

John Sakellariadis is a 2020-2021 Fulbright US Student Research Grantee. He holds a Master’s degree in public policy from the School of International and Public Affairs at Columbia and a Bachelor’s degree in History & Literature from Harvard University.

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Business and Human Rights Law is a rapidly growing area of law, which has dramatically transformed many parts of international law. In this new volume in the Elements series, Robert McCorquodale explores how the responsibility for human rights abuses has transitioned from a purely state obligation to also being the responsibility of businesses. Business responsibility for human rights impacts have become subject both to legislation and to court decisions whenever their activities lead to human rights abuses anywhere in the world.

Business and Human Rights (Oxford UP, 2024) shows the importance of the UN Guiding Principles on Business and Human Rights in these developments, and examines their influence on international, regional, and national law. It also analyses the changes on state obligations to protect human rights, on the corporate responsibility for human rights abuses, and on effective access to remedies for those adversely affected by business activities. Each of these shifts has consequences on core tenets of international law, such as sovereignty and jurisdiction, and has implications for crafting new international law in areas such as climate change and technology.

Robert is a member of the United Nations Working Group on Business and Human Rights, and brings his decades of experience in scholarship and legal practice in business and human rights law, as well as his extensive engagement with businesses, governments, civil society, and international organisations, to bear on his understanding and analysis of this increasingly important field.

Alex Batesmith is a Lecturer in Legal Profession in the School of Law at the University of Leeds, and a former barrister and UN war crimes prosecutor, with teaching and research interests in international criminal law, cause lawyering and the legal profession, and law and emotion. His University of Leeds profile page can be found here. Twitter: @batesmith. LinkedIn

His recent publications include:

• “Cambodia and the progressivist ‘imaginary’: The limitations of international(ised) criminal tribunals as mechanisms for implementing human rights” in Louisa Ashley and Nicolette Butler (eds), The Incoherence of Human Rights in International Law: Absence, Emergence and Limitations (Routledge, 2024 ISBN13: 978-1-032638-03-4)
• “‘Poetic Justice Products’: International Justice, Victim Counter-Aesthetics, and the Spectre of the Show Trial” in Christine Schwöbel-Patel and Rob Knox (eds) Aesthetics and Counter-Aesthetics of International Justice (Counterpress, 2024 ISBN 978-1-910761-17-5)
• "Lawyers who want to make the world a better place – Scheingold and Sarat’s Something to Believe In: Politics, Professionalism, and Cause Lawyering" in D. Newman (ed.) Leading Works on the Legal Profession (Routledge, July 2023), ISBN 978-1-032182-80-3)
• “International Prosecutors as Cause Lawyers" (2021) Journal of International Criminal Justice 19(4) 803-830 (ISSN 1478-1387)

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The dramatic inside story of the most important case in the history of sovereign debt law Unlike individuals or corporations that become insolvent, nations do not have access to bankruptcy protection from their creditors. When a country defaults on its debt, the international financial system is ill equipped to manage the crisis. Decisions by key individuals—from national leaders to those at the International Monetary Fund, from holdout creditors to judges—determine the fate of an entire national economy. A prime example is Argentina’s 2001 default on $100 billion in bonds, which stands out for its messy outcomes and outsized impact on sovereign debt markets, sovereign debt law, and IMF policy. 

Default: The Landmark Court Battle over Argentina's $100 Billion Debt Restructuring (Georgetown UP, 2024) is the riveting story of Argentina’s sovereign debt drama, which reveals the obscure inner workings of sovereign debt restructuring. This detailed case study describes the intense fight over the role of the IMF in Argentina’s 2005 debt restructuring and the ensuing bitter decade of litigation with holdout creditors, demonstrating that outcomes for sovereign debt are determined by a complex interplay between financial markets, governments, the IMF, the press, and the courts. This cautionary tale lays bare the institutional, political, and legal pressures that come into play when a country cannot repay its debts. It offers a deeper understanding of how global financial capitalism functions for those who work in or study debt markets, international finance, international relations, and international law.

Gregory Makoff, PhD, is a senior fellow at the Harvard Kennedy School and a senior fellow at the Centre for International Governance Innovation and an expert on sovereign debt management. A former banker specializing in debt advice, liability management, and derivatives, he has also advised the US Department of the Treasury.

Caleb Zakarin is editor at the New Books Network.

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The Power to Persuade: Strategic Arguing at the World Trade Organization (University of Toronto Press, 2024) by Dr. Angela Geck provides an innovative and eye-opening analysis of strategic arguing as a means of power in global politics. Based on an empirical case study of arguing processes in the World Trade Organization (WTO), the book shows how discursive contexts, institutional norms and procedures, and unequal human resources condition who has the power to persuade.

While accounts of arguing in international relations are typically based on a notion of arguing as a power-free mode of interaction oriented towards understanding, Dr. Geck shows how such an approach precludes the question of persuasive power. Drawing on in-depth interviews with Geneva diplomats and a document-based analysis of the negotiations on two Doha Round issues, the book examines the practices governing strategic arguing in the WTO and uncovers two sources of persuasive power: firstly, prevalent discourses and connected regime norms empower some actors over others; secondly, their ability to debate is conditioned by exclusionary procedures and unequal human resources.

Offering a grounded theory of strategic arguing in trade politics, The Power to Persuade presents a novel analysis of the relationship between arguing and power.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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Non-profit organizations play an indispensable role in the world today, and are consistently rated higher than governments, the media or businesses in term of public trust. Yet many non-profit organizations suffer from dysfunction. New non-profit leaders find themselves unprepared for the challenges ahead, and even seasoned leaders often struggle to ensure their organizations achieve the impact they aim for.  

In How to Lead Non-Profits: Turning Purpose into Impact to Change the World (BenBella Books, 2024), Nick Grono, CEO of the Freedom Fund and former Deputy President of the International Crisis Group (ICG), provides a leadership framework that focuses on what truly drives success: maximizing impact by staying true to your organization's purpose, fostering an inclusive culture that inspires and empowers your team, and collaborating with the communities you serve, as well as with funders and peer organizations, to amplify your impact.

There are countless books on organizational management and leadership. But most of them come from the business, for-profit, world, whose solutions do not translate well to the fundamentally different world of NGOs and charities. How to Lead Non-Profits fills that gap. 

Featuring insights and examples from nonprofit and charity leaders around the world, and informed by Grono's extensive experience, this book offers practical advice on how to use the power of purpose to shape every aspect of non-profit organizations—both internally and externally—as they work to make a difference in the world.

This is an excellent guide not only for people in leadership positions, but also for anyone who works—or is considering working—in the non-profit sector; wants to start their own non-profit; serves on a non-profit Board or is simply curious about what good leadership in the non-profit sector looks like, regardless of who is in charge.

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In recent years, companies have felt the pressure to be transparent about their environmental impact. Large documents containing summaries of yearly emissions rates, carbon output, and utilized resources are shared on companies’ social media pages, websites, and employee briefings in a bid for public confidence in corporate responsibility.

And yet, Matthew Archer argues, these metrics are often just hollow symbols. Unsustainable: Measurement, Reporting, and the Limits of Corporate Sustainability (New York University Press, 2024) contends with the world of big banks and multinational corporations, where sustainability begins and ends with measuring and reporting. Drawing on five years of research among sustainability professionals in the US and Europe, Unsustainable shows how this depoliticizing tendency to frame sustainability as a technical issue enhances and obscures corporate power while doing little, if anything, to address the root causes of the climate crisis and issues of social inequality. Through this obsession with metrics and indicators, the adage that you can’t manage what you can’t measure transforms into a belief that once you’ve measured social and environmental impacts, the market will simply manage them for you.

The book draws on diverse sources of evidence―ethnographic fieldwork among a wide array of sustainability professionals, interviews with private bankers, and apocalyptic science fiction―and features analyses of name-brand companies including Volkswagen, Unilever, and Nestlé. Making the case for the limits of measuring and reporting, Archer seeks to mobilize alternative approaches. Through an intersectional lens incorporating Black and Indigenous theories of knowledge, power and value, he offers a vision of sustainability that aims to be more effective and more socially and ecologically just.

Robin Steiner is an economic anthropologist based in Miami, FL. His published work explores economic development, labor, and citizenship in Oman and the Arab Gulf. He teaches in the Department of Global and Sociocultural Studies at Florida International University. Robin can be reached at rsteiner@fiu.edu. 

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What is money? Why are trillions of dollars, euros, pounds, and yen being printed, but not spent, and what does this reveal about the state of our society?

Money, as we know it, was born in 1971 when currencies unlinked from gold. During its adolescence, money was hyperactive, causing rampant inflation. Three decades of mature growth followed. But as it reaches the age of fifty, money is changing again, and facing a figurative mid-life crisis.

Zvi Schreiber's book Money, Going Out of Style: The Story of Money and the Mystery of Its Decline (2021) first offers the reader a clear understanding of economics and the role of money, by following a fictional island tribe as they develop money and an ever more sophisticated economy. The book never forgets that money is secondary to the real economy of goods, services, and tools.

Armed with this deeper appreciation of money and economics, the book returns to the present day to examine money's midlife crisis: the effect of rising inequality, the puzzle of near-zero interest rates, and how this is causing money to go out of style.

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After India gained independence in 1947, Britain reinvented its role in the global economy through nongovernmental aid organisations. Utilising existing imperial networks and colonial bureaucracy, the nonprofit sector sought an ethical capitalism, one that would equalise relationships between British consumers and Third World producers as the age of empire was ending. The Solidarity Economy: Nonprofits and the Making of Neoliberalism after Empire (Princeton University Press, 2024) by Dr. Tehila Sasson examines the role of nonstate actors in the major transformations of the world economy in the postwar era, showing how British NGOs charted a path to neoliberalism in their pursuit of ethical markets.

Between the 1950s and 1990s, nonprofits sought to establish an alternative to Keynesianism through their welfare and development programs. Encouraging the fair trade of commodities and goods through microfinance, consumer boycotts, and corporate social responsibility, these programs emphasised decentralisation, privatisation, and entrepreneurship. Tehila Sasson tells the stories of the activists, economists, politicians, and businessmen who reimagined the marketplace as a workshop for global reform. She reveals how their ideas, though commonly associated with conservative neoliberal policies, were part of a nonprofit-driven endeavour by the liberal left to envision markets as autonomous and humanising spaces, facilitating ethical relationships beyond the impersonal realm of the state.

Drawing on dozens of newly available repositories from nongovernmental, international, national, and business archives, The Solidarity Economy reconstructs the political economy of these markets—from handicrafts and sugar to tea and coffee—shedding critical light on the post imperial origins of neoliberalism.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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Across the world, algorithms are changing the nature of work. Nowhere is this clearer than in the logistics and distribution sectors, where workers are instructed, tracked and monitored by increasingly dystopian management technologies.

In Cyberboss: The Rise of Algorithmic Management and the New Struggle for Control at Work (Verso, 2024), Craig Gent takes us into workplaces where algorithms rule to excavate the politics behind the newest form of managerial power. Combining worker testimony and original research on companies such as Amazon, Uber, and Deliveroo, the cutting edge of algorithmic management technology, this book reveals the sometimes unexpected effects these new techniques have on work, workers and managers. Gent advances an alternative politics of resistance in the face of digital control.

Louisa Hann attained a PhD in English and American studies from the University of Manchester in 2021, specialising in the political economy of HIV/AIDS theatres.

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Peoples & Things host, Lee Vinsel, talks to Benjamin Waterhouse, full-as-full-can- be Professor of History at University of North Carolina at Chapel Hill, about his book, One Day I’ll Work for Myself: The Dream and Delusion that Conquered America (Norton, 2024). The book examines how the ideal of self-employment became so prominent in the United States after the 1970s, and how the idea has had damaging consequences for many groups, who often are attracted to working for themselves not because it is so great but because they have so few other good options. Vinsel and Waterhouse also roast entrepreneurship, small businesses, and other golden calves. They end by discussing a new collaborative project, a forthcoming podcast on the political, cultural, and economic history of the United States in the 1990s.

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In an era where the financial stability of many arts organizations is increasingly precarious, arts philanthropy stands at a critical juncture. The recent COVID-19 pandemic of 2020-21 laid bare the vulnerabilities in existing funding structures, highlighting just how fragile these lifelines can be. Coupled with a surge in social initiatives that demand attention and resources, the way the arts are funded is undergoing scrutiny and transformation.

A new wave of philanthropists—individuals with fresh motivations and evolving priorities—has emerged. These next-gen donors continue the legacy of their predecessors, while actively reshaping it, bringing forth new perspectives and expectations. Their influence is profound but necessitates a balance of caution and optimism as the arts sector navigates this changing landscape.

This is where Philanthropy in the Arts: A Game of Give and Take (Lund Humphries, 2023) steps in, offering a sprawling yet incisive exploration of philanthropy in the arts. The book examines the interests and behaviors of donors and recipients, suggesting ways in which their practices can be better intertwined. Through open and wide-ranging discussions, it explores the intricacies of giving and receiving in the arts, shedding light on the unique challenges and opportunities that define this relationship.

For collectors, philanthropists, and patrons, this book is more than just analysis—it’s a handy guide that equips them with the knowledge to navigate the peculiarities of arts philanthropy. For art market and museum professionals, it provides insights into the evolving dynamics of donor relationships, helping them adapt to the rapidly changing environment. Amidst the increasing financial instability of numerous arts organizations, arts philanthropy finds itself at a critical juncture.

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Inequality and Political Cleavage in Africa: Regionalism by Design (Cambridge University Press, 2024) by Dr. Catherine Boone integrates African countries into broader comparative theories of how spatial inequality shapes political competition over the construction of markets, states, and nations. Existing literature on African countries has found economic cleavages, institutions, and policy choices to be of low salience in national politics. This book inverts these arguments. Dr. Boone trains our analytic focus on the spatial inequalities and territorial institutions that structure national politics in Africa, showing that regional cleavages find expression in both electoral competition and policy struggles over redistribution, sectoral investment, market integration, and state design.

Leveraging comparative politics theory, Dr. Boone argues that African countries' regional and core-periphery tensions are similar to those that have shaped national economic integration in other parts of the world. Bringing together electoral and economic geography, the book offers a new and powerful map of political competition on the African continent.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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The Search for Shelter: Writings on Land and Housing (Oxford UP, 2022) sheds light on the global population living in slums, which has increased from 1 billion in 2014 to 1.6 billion in 2018. The book also looks at the impact of neoliberalism on urban planning, the manner of organization and the struggles of the communities affected by these processes, the cultural and political decision-making processes of the State, and their repercussions on the form and life of the city. In this book, Arif Hasan discusses the conflicts between ground realities, academic theory, governmental policies, and international interventions in the shelter sector. With the help of individual case studies, he goes into depths of the various issues faced, and in certain instances also gives recommendations to improve upon the situation.

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What Work Means: Beyond the Puritan Work Ethic (ILR Press, 2024) goes beyond the stereotypes and captures the diverse ways Americans view work as a part of a good life. 

Dispelling the notion of Americans as mere workaholics, Claudia Strauss presents a more nuanced perspective. While some live to work, others prefer a diligent 9-to-5 work ethic that is conscientious but preserves time for other interests. Her participants often enjoyed their jobs without making work the focus of their life. These findings challenge laborist views of waged work as central to a good life as well as post-work theories that treat work solely as exploitative and soul-crushing.

Drawing upon the evocative stories of unemployed Americans from a wide range of occupations, from day laborers to corporate managers, both immigrant and native-born, Strauss explores how diverse Americans think about the place of work in a good life, gendered meanings of breadwinning, accepting financial support from family, friends, and the state, and what the ever-elusive American dream means to them. By considering how post-Fordist unemployment experiences diverge from joblessness earlier, What Work Means paves the way for a historically and culturally informed discussion of work meanings in a future of teleworking, greater automation, and increasing nonstandard employment.

Claudia Strauss is Professor of Anthropology at Pitzer College. She is the author of A Cognitive Theory of Cultural Meaning with Naomi Quinn and co-editor of Human Motives and Cognitive Models.

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More than any other global institution, the US Federal Reserve’s decisions and communications drive capital markets and alter financial conditions everywhere from Seattle to Seoul. While its interest rate are set by an expert committee, for almost a century, the Fed’s core philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors.

In this podcast series, Tim Gwynn Jones - a veteran central bank "watcher" - talks to authors of books about the Fed's most influential Chairs, starting with Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker.

In the fourth and final episode of this series, he talks to William Silber – author of Volcker: The Triumph of Persistence (Bloomsbury, 2012). A giant (literally) of 20th-century policymaking, Volcker chaired the Fed from 1979 to 1987, implementing monetarist shock therapy, driving up the fed funds rate from 11% to 20% to crush inflation expectations, and pulling inflation down from nearly 15% in early 1980 to below 3% three years later.

“For Volcker, the most important denigrating fact of inflation was … that it undermines trust in government,” says Silber. “When we give the government the right to print money … we trust that the government will not debase the currency … When you think about inflation in that context, there is no number – two, four, six. Any number is bad. The only number that works is zero .. If you asked Volcker – and I asked him – what's the right number, he said zero”.

From 1990 until his retirement in 2019, Bill Silber was professor of economics at the Stern School of Business, New York University. His award-winning book is built on more than 100 hours of interviews with Volcker. The author of seven other books, Silber’s latest – The Power of Nothing to Lose: The Hail Mary Effect in Politics, War, and Business – will be published in paperback in September 2024.

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After the unprecedented Exxon Valdez oil spill, a jury of ordinary Alaskans decided that Exxon had to be punished. However, Exxon fought back against their punishment. They did so, in-part, by supporting research that suggested jurors are irrational. This work came from an esteemed group of psychologists, behavioural economists, and legal theorists–including Daniel Kahneman, and Cass Sunstein.

In this three-part series in partnership with Canada’s National Observer, Cited Podcast investigates the forgotten legacy of the Exxon Valdez oil spill and the research that followed. This first part, an Alaskan Nightmare, covers the spill and its immediate effects. Subsequent episodes will run weekly. Subscribe today to ensure you do not miss part #2, 12 Angry Alaskans, and part #3, Damaging Rationality.

This is episode five of Cited Podcast’s returning season, the Rationality Wars. This season tells stories of political and scholarly battles to define rationality and irrationality. For a full list of credits, and for the rest of the episodes, visit the series page.

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This is the Global Media & Communication podcast series. This podcast is a multimodal project powered by the Center for Advanced Research in Global Communication (CARGC) at the Annenberg School for Communication at the University of Pennsylvania. At CARGC, we produce and promote critical, interdisciplinary, and multimodal research on global media and communication. We aim to bridge academic scholarship and public life, bringing the best scholarship to bear on enduring global questions and pressing contemporary issues.

Today, our hosts, Anjali DasSarma and Sim Gill, present the second episode in a two-part series on neoliberalism and the state of the university as a deeply powerful structure, along with two incredible scholars: Professor Natalie Fenton and Professor Alison Hearn.

In this episode, we delve into the intricate mechanisms of capitalism, unpacking how metrics, the pressure to "publish or perish," and intellectual extraction shape the academic landscape. From the commodification of knowledge to the erosion of job security, we'll shine a light on some of the systemic forces at play in higher education. We also unpack the rhetoric surrounding Elon Musk and his impact on the age of artificial intelligence, to consider how AI tools like ChatGPT are shifting debates about teaching and student evaluation methods.

Amidst these challenges, we'll also uncover the power of the ideological project of hope. Join us as we engage in a thought-provoking discussion on information, communication, and knowledge production.

In this episode you will hear about:

• AI and job security
• How metrics, “publishing or perishing,” and intellectual extraction function under capitalism
• What the ideological project of hope offers us
• Community organizing, resistance, and learning

Guest Biographies:

Natalie Fenton: Natalie is a Professor of Media and Communications at Goldsmiths University.

Alison Hearn: Alison is a professor in the Department of Information and Media Studies at the University of Western Ontario.

Host Biographies:

Anjali DasSarma: Anjali DasSarma is a doctoral student at the Annenberg School for Communication at the University of Pennsylvania.

Sim Gill: Sim Gill is a doctoral student at the Annenberg School for Communication at the University of Pennsylvania and a research fellow at the Center for Advanced Research in Global Communication (CARGC) and the Center on Digital Culture and Society.

Credits

• Interview by: Anjali DasSarma and Sim Gill Produced by: Eszter Zimanyi 
• Edited by: Anjali DasSarma and Matt Parker
• Sound Mixing by: Matt Parker
• Music by: Zoe Zhao Blog post written by: Anjali DasSarma and Sim Gill

Keywords: neoliberalism, higher education, artificial intelligence, community organizing

This episode was recorded on November 15th, 2023 at the Annenberg School for Communication, University of Pennsylvania.

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More than any other global institution, the US Federal Reserve’s decisions and communications drive capital markets and alter financial conditions everywhere from Seattle to Seoul. While its interest rate are set by an expert committee, for almost a century, the Fed’s core philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors.

In this podcast series, Tim Gwynn Jones - a veteran central bank "watcher" - talks to authors of books about the Fed's most influential Chairs, starting with Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker.

In this third episode, he talks to Wyatt Wells – author of Economist in an Uncertain World – Arthur F. Burns and The Federal Reserve, 1970–1978 (Columbia University Press, 1994). Burns has had a bad press - so bad that Chris Hughes, one of Facebook's founders, was moved to rehabilitate him. Leading the Fed from 1970 to 1978 when inflation averaged 9%, Burns was an accomplished business-cycle economist but also a politically partisan Chair intensely loyal to Richard Nixon and Gerald Ford. Going far beyond his remit as a central banker, Burns oversaw government efforts to control prices and wages as an alternative to monetary policy.

“If you couple an incomes policy with a tight fiscal and monetary policy, it can work. The problem is that it often becomes an excuse for not doing that,” says Wells. “Burns found himself trapped in this position where he felt he couldn't raise interest rates without wrecking the controls programme and possibly his own career – his own position at the Fed. It's clear in ‘73, he knows interest rates need to go up. They're trying to raise them but he's got these political concessions and he's doing this sort of dance, trying to square the circle … And of course: ‘I'm the smartest guy in the room. Therefore, I should play a key role in this effort to balance everything’. I think there are very few Federal Reserve chairmen who have elbowed their way into other areas in the way that Burns did. Maybe none”.

An economic historian, Wyatt Wells has been Professor of History at Auburn University, Montgomery, since 1997.

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After two government bailouts of the American economy in less than twenty years, free market thought is due for serious reappraisal. Free Market: The History of an Idea (Basic Books, 2022) shows how the idea became so powerful, why it succeeded, and why it has failed so spectacularly. In 1990, the G7 Countries enjoyed 70 percent of world GDP. In the face of the collapse of the Soviet Union, it was supposed to be a story of the success of free markets. However, in the past thirty years, that number has dropped by half, and Asia has emerged as a major motor of world economic growth. Today, state-run China is the second biggest economy on earth, and tiny Singapore, with its state-owned companies, has become a new model of wealth creation. In other words, Milton Friedman's free market dogma, that only private companies can create wealth and that states hamper it, has not proved very clearly to be untrue. 

This book shows how we got to the current crisis of free market thought, and suggests how we can find our way out. Contrary to popular free market narratives, early market theorists believed that states had an important role in building and maintaining free markets. But in the eighteenth century, some free-market thinkers began insisting only pure free markets, without state intervention, could work. A tradition of free-market ideological brittleness emerged, and it has led orthodox free market economics to some spectacular failures. It is a paradox that an economic theory rooted in the idea of competition, adaptation and evolution, has refused to follow its own precepts. This book shows that we need to go back to the origins of free market thought in order to understand its dynamism, as well as its inherent weaknesses, and to develop new economic concepts to face the staggering challenges of the twenty-first century.

Jacob Soll is an American university professor and professor of philosophy, history and accounting at the University of Southern California. Soll's work examines the mechanics of politics, statecraft and economics by dissecting the various elements of how modern states and political systems succeed and fail.

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.

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More than any other global institution, the US Federal Reserve’s decisions and communications drive capital markets and alter financial conditions everywhere from Seattle to Seoul. While its interest rate are set by an expert committee, for almost a century, the Fed’s core philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors.

In this podcast series, Tim Gwynn Jones - a veteran central bank "watcher" - talks to authors of books about the Fed's most influential Chairs, starting with Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker.

In this second episode, he interviews Robert Bremner – author of Chairman of the Fed: William McChesney Martin Jr. and the Creation of the Modern American Financial System (Yale University Press, 2004). Bill Martin still holds the record for the longest chairmanship at the Fed – holding the office from 1951 to 1970. A Democrat, he was first nominated by President Harry Truman and reappointed (more or less willingly) by Eisenhower, Kennedy, Johnson, and Nixon. He dismantled government wartime controls over interest rates, battled to save the postwar currency-management regime, democratised the Fed, and fought successive presidents to keep its independence.

These conflicts started early, says Bremner. “Martin told this story about walking down Wall Street and passing the president going the other way and Martin said: ‘Good morning, Mr. President, great to see you’. And Truman looked at him and said: ‘Traitor’. Basically Truman wanted to continue low interest

rates certainly until he left office and for as long as possible”.

After a career in finance at the World Bank and in the mutual-fund industry, Bob Bremner is now a director of the Westminster Ingleside Foundation.

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More than any other global institution, the US Federal Reserve’s decisions and communications drive capital markets and alter financial conditions everywhere from Seattle to Seoul. While its interest rate are set by an expert committee, for almost a century, the Fed’s core philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors.

In this podcast series, Tim Gwynn Jones - a veteran central bank "watcher" - talks to authors of books about the Fed's most influential Chairs, starting with Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker.

In this first episode, he interviews Mark Nelson - author of Jumping the Abyss: Marriner S. Eccles and the New Deal, 1933-1940 (University of Utah Press, 2017). Eccles chaired the Fed from 1934 to 1948, turned it into a Washington power centre, and centralised policymaking with the Board of Governors.

The US might have been better served if Eccles and his nemesis Henry Morgenthau, the Treasury Secretary from 1934-1945, had swapped roles, says Nelson. "That's true except for the fact that Eccles did do something very important at the Fed and that is the Banking Act of 1935, which really changed the Fed in an enormously important way and Morgenthau would not have done that ... I think it would have happened at some point. You could make the argument, though, that it may not have happened in 1935 if Eccles hadn't been there because Eccles took the job at the Fed on the understanding that these changes would be made”.

An actor-turned-historian, Mark Nelson was educated at Pepperdine University and Claremont Graduate University and today teaches at Greenville Technical College, South Carolina. His next book will be Race and Recovery: James F. Byrnes and the New Deal.

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Historically, the insurance industry in America has been fragmented. As a result, there have been debates and conflicts over the proper roles of federal and state governments, business, and the responsibilities of individuals. Who should cover the risks of loss? And to what extent should risk be shared and by whom?

In Uncovered: The Story of Insurance in America (Oxford UP, 2023), Katherine Hempstead answers these questions by exploring the history of the insurance business and its regulation in the United States from the 1870s through the twentieth century. Specifically, she focuses on the friction between the public demand for insurance and the private imperatives of insurers. Tracing the history of the industry from the early days of life, fire, and casualty insurance to the development of state regulation in the late nineteenth century, Hempstead examines the role that insurers initially played in the largely voluntary social safety net and how this changed over time. After the Great Depression, the federal government assumed a greater role in the provision of insurance, while insurers enthusiastically pursued the growing business of employee benefits. As the twentieth century progressed, insurers and government have become interdependent, with insurers participating in publicly funded markets. As Hempstead shows, periodic crises in life, fire, health, auto, and liability insurance highlighted gaps between the coverage that insurers were willing to provide and what the public demanded.

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Liberal democracy is in crisis around the world, unable to address pressing problems such as climate change. There is, however, another path—cooperation democracy. From consumer co-ops to credit unions, worker cooperatives to insurance mutuals, nonprofits to mutual aid, countless examples prove that people working together can extend the ideals of participatory democracy and sustainability into every aspect of their lives. These forms of cooperation do not depend on electoral politics. Instead, they harness the longstanding practices and values of cooperatives: self-determination, democratic participation, equity, solidarity, and respect for the environment.

Bernard E. Harcourt develops a transformative theory and practice that builds on worldwide models of successful cooperation. He identifies the most promising forms of cooperative initiatives and then distills their lessons into an integrated framework: Coöperism. This is a political theory grounded on recognition of our interdependence. It is an economic theory that can ensure equitable distribution of wealth. Finally, it is a social theory that replaces the punishment paradigm with a cooperation paradigm.

A creative work of normative critical theory, Cooperation: A Political, Economic, and Social Theory (Columbia UP, 2023) provides a positive vision for addressing our most urgent challenges today. Harcourt shows that by drawing on the core values of cooperation and the power of people working together, a new world of cooperation democracy is within our grasp.

Bernard E. Harcourt is the Isidor and Seville Sulzbacher Professor of Law and professor of political science at Columbia University and a chaired professor at the École des Hautes Études en Sciences Sociales in Paris. An editor of Michel Foucault’s work in French and English, Harcourt is the author of several books, including Critique and Praxis (Columbia, 2020). He is a social-justice litigator and the recipient of the 2019 Norman Redlich Capital Defense Distinguished Service Award from the New York City Bar Association for his longtime representation of death row prisoners.

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.

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It is a truth universally acknowledged that as a society we want successful, profitable companies because, as Jan Eeckhout says in The Profit Paradox: How Thriving Firms Threaten the Future of Work (Princeton UP, 2021), “we tend to accept that when firms do well, the economy does well”, even when that's not true. 

The rising tide, in some cases, does not lift all boats. Even when a few strong players have outsized gains, the rest of the market can suffer. These trends have a ripple effect over time that effectively separate economic winners, who keep an increasingly large share of benefits, from economic losers who struggle to compete, let alone maintain the standard of living achieved by their parents.

In this book, Jan Eeckhout documents how a small number of large firms have been able to gain tremendous market power through a variety of mechanisms such as price manipulation, outsourcing, and leveraging new technical innovations. None of these are inherently wrong, but when used by powerful companies to reduce or eliminate potential competition, they lead to inefficient markets that weaken society. 

It is a case of excessive success, as companies narrowly focus on defending and increasing their profits without significant consideration for the externalities or unintended consequences of these market failures. 

Eeckhout presents an optimistic outlook of how we can retain the extensive advantages of economic growth while reversing some of these more dangerous trends. His recommendations for the future include leveraging what we've learned from prior generations who faced similar challenges, and building on the incredible technical innovations that have characterized the last few decades, including recent breakthroughs in artificial intelligence. 

Recommended reading: The Wisdom of Crowds by James Surowiecki.

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The struggle against neoliberal order has gained momentum over the last five decades – to the point that economic elites have not only adapted to the Left's critiques but incorporated them for capitalist expansion. Venture funds expose their ties to slavery and pledge to invest in racial equity. Banks pitch microloans as a path to indigenous self-determination. Fair-trade brands narrate consumption as an act of feminist solidarity with women artisans in the global South. 

In Capitalist Humanitarianism (Duke UP, 2023), Lucia Hulsether examines these projects and the contexts of their emergence. Blending historical and ethnographic styles, and traversing intimate and global scales, Hulsether tracks how neoliberal self-critique creates new institutional hegemonies that, in turn, reproduce racial and neocolonial dispossession. From the archives of Christian fair traders to luxury social entrepreneurship conferences, from US finance offices to Guatemalan towns flooded with their loan products, from service economy desperation to the internal contradictions of social movements, Hulsether argues that capitalist humanitarian projects are fueled as much by a profit motive as by a hope that racial capitalism can redeem the losses that accumulate in its wake.

Lucia Hulsether is Assistant Professor of Religious Studies at Skidmore College.

This episode’s host, Jacob Barrett, is currently a PhD student in the Department of Religious Studies at the University of North Carolina at Chapel Hill in the Religion and Culture track. For more information, visit his website thereluctantamericanist.com

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In Goliath: The 100-Year War Between Monopoly Power and Democracy (Simon & Schuster, 2019), Matt Stoller explains how authoritarianism and populism have returned to American politics for the first time in eighty years, as the outcome of the 2016 election shook our faith in democratic institutions. It has brought to the fore dangerous forces that many modern Americans never even knew existed. Today's bitter recriminations and panic represent more than just fear of the future, they reflect a basic confusion about what is happening and the historical backstory that brought us to this moment.

The true effects of populism, a shrinking middle class, and concentrated financial wealth are only just beginning to manifest themselves under the current administrations. The lessons of Stoller's study will only grow more relevant as time passes. "An engaging call to arms," (Kirkus Reviews) Stoller illustrates here in rich detail how we arrived at this tenuous moment, and the steps we must take to create a new democracy.

Matt Stoller is the Director of Research at the American Economic Liberties Project.

Caleb Zakarin is the Assistant Editor of the New Books Network (Twitter: @caleb_zakarin).

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Inequality is America's biggest problem. Unions are the single strongest tool that working people have to fix it. Organized labor has been in decline for decades. Yet it sits today at a moment of enormous opportunity. In the wake of the pandemic, a highly visible wave of strikes and new organizing campaigns have driven the popularity of unions to historic highs. The simmering battle inside of the labor movement over how to tap into its revolutionary potential--or allow it to be squandered--will determine the economic and social course of American life for years to come.

In chapters that span the country, Nolan shows readers the actual places where labor and politics meld. He highlights how organized labor can and does wield power effectively: a union that dominates Las Vegas and is trying to scale nationally; a successful decades-long campaign to organize California's child care workers; the human face of a surprising strike of factory workers trying to preserve their pathway to the middle class. Throughout, Nolan follows Sara Nelson, the fiery and charismatic head of the flight attendants' union, as she struggles with how (and whether) to assert herself as a national leader, to try to fix what is broken. The Hammer: Power, Inequality, and the Struggle for the Soul of Labor (Hachette Books, 2024) draws the line from forgotten workplaces in rural West Virginia to Washington's halls of power, and shows how labor solidarity can utterly transform American politics--if it can first transform itself.

A labor journalist for more than a decade, Nolan helped unionize his own industry. The Hammer is a urgent on-the-ground excavation of the past, present, and future of the American labor movement.

Hamilton Nolan is a labor journalist who writes regularly for In These Times magazine and The Guardian. He has written about labor, politics, and class war for The New York Times, the Washington Post, Gawker, Splinter, and other publications. He was the longest-serving writer in Gawker’s history, and was a leader in unionizing Gawker Media in 2015. Hamilton is a proud member of the Writers Guild of America, East.

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There is no shortage of books on the growing impact of data collection and analysis on our societies, our cultures, and our everyday lives. David Hand's new book Dark Data: Why What You Don't Know Matters (Princeton University Press, 2020) is unique in this genre for its focus on those data that aren't collected or don't get analyzed. More than an introduction to missingness and how to account for it, this book proposes that the whole of data analysis can benefit from a "dark data" perspective—that is, careful consideration of not only what is seen but what is unseen. David assembles wide-ranging examples, from the histories of science and finance to his own research and consultancy, to show how this perspective can shed new light on concepts as classical as random sampling and survey design and as cutting-edge as machine learning and the measurement of honesty. I expect the book to inspire the same enjoyment and reflection in general readers as it is sure to in statisticians and other data analysts.

Suggested companion work: Caroline Criado Perez, Invisible Women: Data Bias in a World Designed for Men.

Cory Brunson (he/him) is a Research Assistant Professor at the Laboratory for Systems Medicine at the University of Florida.

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Daniel Susskind examines the brief and powerful history of economic growth and puts it into perspective with human prosperity in Growth: A History and a Reckoning (Harvard UP, 2024).

Susskind acknowledges the tremendous benefits of economic growth, which he credits with freeing billions of people from poverty and allowing us to live longer and healthier lives. He also recognizes the real and substantial costs of our relentless pursuit of growth at the expense of other considerations and moral challenges. 

Responding to the degrowth movement, Susskind counters the assumption that simply reducing growth will lead to better outcomes.

In particular, Susskind points out that our key measure of growth, GDP, is one imperfect metric that is neither intended nor effective as a proxy for well-being. He recommends a more balanced "dashboard" approach that includes GDP along with other success measures.

Reducing our myopic focus on GDP does not mean less growth. Susskind presents an alternate approach, arguing that we should continue to pursue growth through the creative application of new ideas that allow us to use our finite natural resources more effectively and efficiently. 

Ideas, he points out, are not a scarce asset but an infinite one; by shifting to focus on new ways of thinking and working Susskind shows how we can continue to pursue the benefits of growth while mitigating the high costs.

Book referenced: 

GDP: A Brief but Affectionate History by Diane Coyle

Recommended reading: 

Planting the Oudolf Gardens by Rory Dusoir

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Balihar Sanghera and Elmira Satybaldieva’s Rentier Capitalism and Its Discontents: Power, Morality and Resistance in Central Asia (Palgrave MacMillan, 2021) evaluates today’s economic political, social and ecological crises through the lens of rentier capitalism and countermovements in Central Asia. Over the last three decades, the rich and powerful have increased their wealth and political power to the detriment of social and environmental well-being. But their activities have not gone unchecked; grassroots activism has resisted the damaging effects of the neoliberal commodification of things.

Providing a much-needed theorisation of the moral economy and politics of rent, this book offers in-depth case studies on finance, real estate and natural resources in Kazakhstan and Kyrgyzstan. The authors show the mechanisms of rent extraction, their moral justifications and legitimacy, and social struggles against them.

This book not only offers insight into social and economic dynamics in Central Asia, but invites us all to interrogate what purpose, and whom, economies ultimately serve.

Cholpon Ramizova is a London-based writer and researcher. She holds a Master's in Migration, Mobility and Development from SOAS, University of London. Her thematic interests are in migration, displacement, identity, gender, and nationalism - and more specifically on how and which ways these intersect within the Central Asia context.

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Listen to this interview of Darja Smite, Professor of Software Engineering at Blekinge Institute of Technology, Sweden, and also research scientist at SINTEF; and, Jarle Hildrum, Director, Deloitte Consulting, Norway; and also, Daniel Mendez, Professor of Software Engineering at Blekinge Institute of Technology, Sweden, and as well, Senior Scientist heading the research division Requirements Engineering at fortiss. We talk about their paper Work-from-home is here to stay: Call for flexibility in post-pandemic work policies (JSS 2023).

Daniel Mendez : "Two key takeaways from our collective experience here are, No.1, figures don't need to be absolute — so, we should really focus on the essence of what we want to convey. And No.2, in terms of what we want to convey, I think that every figure ideally has one key message, one key takeaway."

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In 2012, to stave off the collapse of their currency union, Europe’s leaders sought to end the so-called “doom loop” between the solvency of their governments and their banking systems. Two years later, a banking union was born. 

Created as a crisis response, like the postwar coal and steel community, this ten-year-old union is another step in Europe’s long integrationist road. Yet – as Nicolas Véron points out in Europe’s Banking Union At Ten: Unfinished Yet Transformative (Bruegel, 2024) - the effort to "break the vicious circle between banks and sovereigns remains fragile and incomplete".

Together with Jean Pisani-Ferry, Nicolas Véron is a co-founder of the Bruegel public-policy think tank in Brussels and a scholar at the Peterson Institute for International Economics (PIIE) in Washington. A specialist in financial systems and regulatory reform, he is an alumnus of the École Polytechnique and the École nationale supérieure des mines in Paris and - until 2000 - was a French civil servant. He has written and co-written many papers on banking supervision, crisis management, and Eurozone policy governance.

*The author's book recommendations were Central Banking Before 1800: A Rehabilitation by Ulrich Bindseil (OUP, 2020) and 7500 Euros: Pastiches politico-littéraires by David Spector (Wombat, 2022).

Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes the twenty4two newsletter on Substack.

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Over the course of the Vietnam War, the United States dropped 500,000 tons of bombs over Cambodia—more than the combined weight of every man, woman, and child in the country.

Fifty years after the last sortie, residents of rural Cambodia are still coping with the unexploded ordnance that covers their land. In When the Bombs Stopped: The Legacy of War in Rural Cambodia (Princeton UP, 2024), Erin Lin investigates the consequences of the US bombing campaign across postconflict Cambodia.

Drawing on interviews, original econometric analysis, and extensive fieldwork, Lin upends the usual scholarly perspective on the war and its aftermath, presenting the viewpoint of those who suffered the bombing rather than those who dropped the bombs. She shows that Cambodian farmers stay at a subsistence level because much of their land is too dangerous to cultivate—and yet, paradoxically, the same bombs that endanger and impoverish farming communities also protect them, deterring predatory elites from grabbing and commodifying their land.

Lin argues that the half-century legacy of American bombs has sedimented the war into the layers of contemporary Cambodian society. Policies aimed at developing or modernizing Cambodia, whether economic liberalization or authoritarian consolidation, must be realized in an environment haunted by the violence of the past.

As the stories Lin captures show, the bombing served as a critical juncture in these farming villages, marking the place in time where development stopped.

Our guest today is Erin Lin, who is an Associate Professor of Political Science at The Ohio State University.

Our host is Eleonora Mattiacci, an Assistant Professor of Political Science at Amherst College. She is the author of "Volatile States in International Politics" (Oxford University Press, 2023).

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Amy Schiller, who spent a number of years working in both political and major gift fundraising, has a new book detailing some of the fundamental problems currently afflicting American philanthropy and how to correct some of these problems. Schiller, a political theorist currently at Dartmouth College’s Society of Fellows, brings two important perspectives to her research in The Price of Humanity: How Philanthropy Went Wrong—And How to Fix It (Melville House, 2023)—combining her experience in the philanthropic world with her training and expertise in political theory, especially democratic theory. The Price of Humanity also provides the reader with a vital history of philanthropy and giving, especially in the West, and how thinking about the role of supporting others as part of the common good has shifted over the course of more than two millennia. Schiller makes an important point about how St. Augustine, in his teachings on donations and giving, shifted the framing and understanding of giving from a community-based common good to a global approach to donating, tying the act of giving to individual salvation. This approach not only highlighted suffering and need and stratified those who give from those who are in need, but it also disconnected the philanthropic experience from the immediate community while objectifying those who are in poverty or generally in need.

The Price of Humanity doesn’t dwell in the past but provides this important lens that continues to apply to our contemporary thinking about giving. This more disconnected approach is also overlaid, in our current environment, with the demand that non-profits and philanthropies product quantifiable goods: how many cases of malaria have been eradicated, how much food has been provided to those experiencing scarcity, how are the dollars donated spent and by whom and in what ways? Thus, in so many ways, philanthropic organizations have to report out their successes in the same ways that private corporations need to detail their fiscal health to their boards of directors and shareholders. All of these approaches tend to disconnect the act of giving from the world in which we live, according to Schiller, and this disconnection makes the reason for giving much more attenuated, distancing us from each other, our communities, and the real role of the common good. Instead of linking individuals together in our shared love for one another and humanity as a whole—which is actually what the word philanthropy means in the original Greek—we live in a philanthropic world that separates and isolates. The Price of Humanity spotlights different approaches to giving, with discussions of the Gates Foundation, Effective Altruism, Robber Barons and the Gilded Age, and other forms of the business of giving. Schiller also focuses on modern examples of philanthropy as the common good, which brings it into the realm of democratic theory, as a means to provide the flourishing of humanity, not merely fulfilling the desperate needs of individuals. This is a fascinating and valuable interrogation of the idea of giving to others, and how we need to reconsider our thinking about the act of giving itself and the role that this act plays in our community and in our democracy.

Lilly J. Goren is a professor of political science at Carroll University in Waukesha, WI. She is co-host of the New Books in Political Science channel at the New Books Network. She is co-editor of The Politics of the Marvel Cinematic Universe (University Press of Kansas, 2022), as well as co-editor of the award winning book, Women and the White House: Gender, Popular Culture, and Presidential Politics (University Press of Kentucky, 2012). She can be reached @gorenlj.bsky.social

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Germany and China: How Entanglement Undermines Freedom, Prosperity and Security (Bloomsbury, 2024) is a groundbreaking book, of which the findings have significant implications both for German-China relations and also in understanding the rising influence of autocratic China on liberal democracies globally. In today's interview, Associate Professor Andreas Fulda and I spoke about Germany's entanglement with China, and the extent of Germany's dependancies on China in terms of economics, technology, politics and academia. We spoke about the blind spots of policy makers and academics have, and the way that China policy is constructed and interpreted as a result. We also spoke about the implications for national security and German sovereignty, and the way that Germany entanglement with China is a warning sign for democratic states everywhere. 

Dr Fulda is a political scientist and China scholar with a keen interest in the philosophy of science. You can listen to an interview about his previous book, The Struggle for Democracy in Mainland China, Taiwan and Hong KongSharp Power and its Discontents (Routledge: 2019) here. 

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In recent years, philanthropy, the use of private assets for the public good, has come under renewed scrutiny. Do elite philanthropists wield too much power? Is big-money philanthropy unaccountable and therefore anti-democratic? And what about so-called "tainted donations" and "dark money" funding pseudo-philanthropic political projects? The COVID-19 pandemic has amplified many of these criticisms, leading some to conclude that philanthropy needs to be fundamentally reshaped to play a positive role in our future.

In What is Philanthropy For? (Bristol University Press, 2023), Rhodri Davies examines why it's important to ask what philanthropy is for, as it has shaped our world for centuries. Considering the alternatives, including charity, justice, taxation, the state, democracy, and the market, he explores the pressing questions that philanthropy must tackle to be equal to the challenges of the 21st century.

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With the rapid development of artificial intelligence and labor-saving technologies like self-checkouts and automated factories, the future of work has never been more uncertain, and even jobs requiring high levels of human interaction are no longer safe. The Last Human Job: The Work of Connecting in a Disconnected World (Princeton UP, 2024) explores the human connections that underlie our work, arguing that what people do for each other in these settings is valuable and worth preserving.

Drawing on in-depth interviews and observations with people in a broad range of professions--from physicians, teachers, and coaches to chaplains, therapists, caregivers, and hairdressers--Allison Pugh develops the concept of "connective labor," a kind of work that relies on empathy, the spontaneity of human contact, and a mutual recognition of each other's humanity. The threats to connective labor are not only those posed by advances in AI or apps; Pugh demonstrates how profit-driven campaigns imposing industrial logic shrink the time for workers to connect, enforce new priorities of data and metrics, and introduce standardized practices that hinder our ability to truly see each other. She concludes with profiles of organizations where connective labor thrives, offering practical steps for building a social architecture that works.

Vividly illustrating how connective labor enriches the lives of individuals and binds our communities together, The Last Human Job is a compelling argument for us to recognize, value, and protect humane work in an increasingly automated and disconnected world.

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How do unequal societies function? In Holding It Together: How Women Became America's Safety Net (Portfolio, 2024), Jesscia Calarco, an Associate Professor of Sociology at the University of Wisconsin-Madison, examines how America’s DIY society depends on the labour of mothers and excludes the sorts of social supports present in other countries. This dependence has hugely negative social and individual consequences, as demonstrated by the rich qualitiative and quantitative data examined in the book. Alongside the analysis of the problems and consequences of women’s role in the US, the book also thinks through solutions, demonstrating how much political discourse is far from the collective action that is likely to be effective for social change. An outstanding contribution to social science and contemporary politics, the book is essential reading for anyone interested in contemporary social inequalities.

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Why do international donors brand foreign aid? And what impact does it have on popular attitudes towards them? Join Matthew Winters and Petra Alderman as they talk about soft power, foreign aid branding, and popular attitudes towards USAID and Japan in India, Bangladesh, and Uganda. They discuss whether foreign aid branding works and address several tensions linked to this practice, including branding in the context of unequal North-South power relations and colonial legacies.

Matthew Winters is Professor of Political Science at the University of Illinois and a recent holder of the Fulbright-University of Birmingham Distinguished Scholar Award at the International Development Department at the University of Birmingham.

Petra Alderman is a Post-Doctoral Research Fellow in Leadership for Inclusive and Democratic Politics at the University of Birmingham and Research Fellow at CEDAR.

The People, Power, Politics podcast brings you the latest insights into the factors that are shaping and re-shaping our political world. It is brought to you by the Centre for Elections, Democracy, Accountability and Representation (CEDAR) based at the University of Birmingham, United Kingdom. Join us to better understand the factors that promote and undermine democratic government around the world and follow us on X (Twitter) at @CEDAR_Bham!

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Think that today's debates about the role of the Federal Reserve Bank, financial regulation, "too big to fail", etc. are new? Think again. Who should control banks, who should regulate banks, what should banks even do--these questions have been debated since the founding of the Republic. Replace CNBC's David Faber with Alexander Hamilton, and Joe Kernan with Thomas Jefferson (or James Madison) and the arguments about banking, moral hazard, and regulation would be largely the same, though the attire would be quite different.

Kathleen Day's new book Broken Bargain: Bankers, Bailouts, and the Struggle to Tame Wall Street (Yale University Press, 2019) provides a detailed two-century history of the give and take between government authority and financial institutions (and the individuals caught between them). The challenges over time have changed--the absence of a single currency in the early 19th century, insufficient credit in the late 19th century, the roaring and patently stupid 1920s, and then the whole range of financial innovations in the postwar period--but the key issues recur over and over again. Day sides in the end with the need for consistent regulation from impartial and empowered bureaucrats, but alas, the last two centuries have shown that they are hard to come by. Not everyone will agree with her take on banks and regulation, but there can be no doubt about the underlying "capitalism is messy" theme running through our history and this book.

Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter @Back2BizBook or at http://www.strategicdividendinvestor.com

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Since coming to power in 2002, Turkey’s governing party, the AKP, has made poverty relief a central part of their political program. In addition to neoliberal reforms, AKP’s program has involved an emphasis on Islamic charity that is unprecedented in the history of the Turkish Republic. To understand the causes and consequences of this phenomenon, Zencirci introduces the concept of the Muslim Social, defined as a welfare regime that reimagined and reconfigured Islamic charitable practices to address the complex needs of a modern market society.

In The Muslim Social: Neoliberalism, Charity, and Poverty in Turkey (Syracuse UP, 2024), Zencirci explores the blending of religious values and neoliberal elements in dynamic, flexible, and unexpected ways. Although these governmental assemblages of Islamic neoliberalism produced new forms of generosity, distinctive notions of poverty, and novel ways of relating to others in society, Zencirci reveals how this welfare regime privileged managerial efficiency and emotional well-being at the expense of other objectives such as equality, development, or justice. The book provides a lens onto the everyday life of Islamic neoliberalism, while also mapping the kind of political concerns that animate poverty governance in our capitalist present.

Gizem Zencirci is an associate professor of political science at Providence College. Her work has been published in journals such as the International Journal of Middle East Studies, Journal of the American Academy of Religion, and the Journal of Cultural Economy.

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Esoteric and frequently disinterested in the public good, financial institutions can be hard to navigate for those seeking to advance social welfare. My Episode 10 guest Paul Katz of the Jain Family Institute is trying to change that by building innovative tools to help visionary leaders in Brazil grow social wealth. During our lively exchange, Paul helped me understand how much history fits into his efforts and his organization's vision. We talked about Paul's discovery of his superpowers derived from a PhD in history, the importance of being a well-rounded researcher, and how it's often difficult to separate neatly quant from qual. We also discussed the significance of networking and wondered why historians routinely undervalue their expertise, thereby undercutting their chances of success in non-academic domains. Ultimately, our conversation is about the surprising ways to use history for the public good, contribute to organizational effectiveness, and explore new horizons for professional growth.

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What is social mobility? In Social Mobility (Polity Press, 2023), Anthony Heath, an Emeritus Professor of Sociology at the University of Oxford and Yaojun Li, a Professor of Sociology at the University of Manchester, explore and explain this concept, setting out why the idea matters for both social scientists and the general reader. The book draws on a huge range of research, outlining the history of social mobility research, discussing central theories and approaches in sociology and economics, and detailing international comparisons and trends. The book highlights how social mobility is shaped by gender and ethnicity, along with the role of social class. Ultimately the book helps to explain who gets ahead in society and why; as a result the book will be essential reading across the social sciences, as well as for anyone interested in how society works.

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Poverty is big business in America. The federal government spends about $900 billion a year on programs that directly or disproportionately impact poor Americans, including antipoverty programs such as the earned income tax credit, Medicaid, and affordable housing vouchers and subsidies. States and local governments spend tens of billions more. 

Ironically, these enormous sums fuel the “corporate poverty complex,” a vast web of hidden industries and entrenched private-sector interests that profit from the bureaucracies regulating the lives of the poor. From bail bondsmen to dialysis providers to towing companies, their business models depend on exploiting low-income Americans, and their political influence ensures a thriving set of industries where everyone profits except the poor, while U.S. taxpayers foot the bill.

In Poverty for Profit: How Corporations Get Rich off America’s Poor (The New Press, 2024), veteran journalist Anne Kim investigates the multiple industries that infiltrate almost every aspect of the lives of the poor—health care, housing, criminal justice, and nutrition. She explains how these businesses are aided by public policies such as the wholesale privatization of government services and the political influence these industries wield over lawmakers and regulators. Supported by original investigative reporting on the lesser-known players profiting from the antipoverty industry, Poverty for Profit adds a crucial dimension to our understanding of how structural inequality and structural racism function today.

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Dialysis is a medical miracle, a treatment that allows people with kidney failure to live when otherwise they would die. It also provides a captive customer for the dialysis industry, which values the steady revenues that come from critically required long-term care that is guaranteed by the government. 

Tom Mueller's six year deep dive into the dialysis industry has yielded his latest book, How to Make a Killing: Blood, Death, and Dollars in American Medicine (W. W. Norton, 2023). It's both an historical account of this lifesaving treatment and an indictment of the industry that is dominated by two for-profit companies that control ~80% of the market.  

There is a precarious balance between ethical care for patients and the prioritization of profits for the providers, a tension that has led to ethical, political, and legal debates about the rationing and exploitation of life-saving care and quality of life. 

Dialysis services are desperately needed by patients who require the dangerous, uncomfortable, and exhausting treatments multiple times per week, and pay for it through complex insurance procedures.

Tom Mueller’s book includes a vivid account of CEOs who lead their companies with messianic zeal to drive revenues continually up while simultaneously reducing the cost of care. He introduces us to the doctors charged with reducing those costs even at the expense of high-quality care and negative health outcomes. And we meet the patients themselves, who have little choice but to put their lives and well-being at the mercy of this system.

How did a lifesaving medical breakthrough become a for-profit enterprise that threatens many of the people it’s meant to save? And who are the brave people -patients, doctors, and employees of the system who are willing to tell their stories despite tremendous pressure to remain silent? And why do we as Americans accept worse outcomes at higher costs than the rest of the world?

Tom Mueller's highly readable yet devastating book illustrates the dialysis industry as a microcosm of American medicine. 

Mueller challenges us to find a solution for dialysis, an approach that could also provide the opportunity to begin fixing our country’s dysfunctional healthcare system and a fighting chance at restoring human health outcomes, rather than the extraction of profits, as its true purpose.

To contact Tom Mueller, visit www.tommueller.co

Suggested reading: 

• The Body's Keepers by Paul L. Kimmel, M.D.
• The Occasional Human Sacrifice: Medical Experimentation and the Price of Saying No by Carl Elliott

Also mentioned: 

• How to Get Away with Merger by Thomas G. Wollman (NBER working paper, 2020)
• "How Acquisitions Affect Firm Behavior and Performance" by Eliason, Heebsh et al. (The Quarterly Journal of Economics, 2020)

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The UAW's Southern Gamble: Organizing Workers at Foreign-Owned Vehicle Plants (IRL Press, 2023) is the first in-depth assessment of the United Auto Workers' efforts to organize foreign vehicle plants (Daimler-Chrysler, Mercedes-Benz, Nissan, and Volkswagen) in the American South since 1989, an era when union membership declined precipitously. Stephen J. Silvia chronicles transnational union cooperation between the UAW and its counterparts in Brazil, France, Germany, and Japan and documents the development of employer strategies that have proven increasingly effective at thwarting unionization.

Silvia shows that when organizing, unions must now fight on three fronts: at the worksite; in the corporate boardroom; and in the political realm. The UAW's Southern Gamble makes clear that the UAW's failed campaigns in the South can teach hard-won lessons about challenging the structural and legal roadblocks to union participation and effectively organizing workers within and beyond the auto industry.

Stephen J. Silvia is a Professor at American University's School of International Service, where he teaches international economics, international trade relations, and comparative politics. He is the author of Holding the Shop Together.

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On this episode of International Horizons, Francesco Duina, Charles A. Dana Professor of Sociology at Bates College and Luca Storti, Associate Professor of Economic Sociology at the University of Turin in Italy and a Research Fellow of the Ralph Bunche Institute for International Studies, discuss the rise of inequalities around the globe and the divergent attitudes towards them since 1970. How can those inequalities be broken down? 

In this week’s episode, Duina and Storti preview their book-in-progress on The Social Acceptance of Inequality, and they examine four types of logic leading us to accept inequalities in today’s world. Not surprisingly, the concept of meritocracy plays a major role in our thinking about contemporary inequality, although perhaps more so in the United States than in Europe.

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A sweeping history of the United States’ economy and politics, in Shock Values: Prices and Inflation in American Democracy (U Chicago Press, 2024), Carola Binder reveals how the American state has been shaped by a massive, ever-evolving effort to insulate its economy from the real and perceived dangers of price fluctuations. Carola Binder narrates how the pains of rising and falling prices have brought lasting changes for every generation of Americans. And with each brush with price instability, the United States has been reinvented—not as a more perfect union, but as a reflection of its most recent failures.

Shock Values tells the untold story of prices and price stabilization in the United States. Expansive and enlightening, Binder recounts the interest-group politics, legal battles, and economic ideas that have shaped a nation from the dawn of the republic to the present.

Carola Binder is Associate Professor and Chair of Economics at Haverford College. Twitter.

Brian Hamilton is chair of the Department of History and Social Science at Deerfield Academy. Twitter. Website.

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Peter Ireland (Boston College Economics Professor) joins the podcast to discuss his career as a monetary economist, his views on the history of monetarism, New Keynesian models, and the Shadow Open Market Committee which Peter sits on and celebrates its 50th anniversary.

Jon Hartley is an economics researcher with interests in international macroeconomics, finance, and labor economics and is currently an economics PhD student at Stanford University. He is also currently a Research Fellow at the Foundation for Research on Equal Opportunity, a Senior Fellow at the Macdonald-Laurier Institute, and a research associate at the Hoover Institution.

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In November, it will be 25 years since the Battle of Seattle – the summit and street fight that marked the end of a half-century of ever-broadening global trade negotiations. Between 2013 and 2016, the same “anti-globalisation” movement sank a US-EU bid to build a Transatlantic Trade and Investment Partnership but it wasn’t until 2016 – with the Brexit referendum and Donald Trump’s election as president – that the postwar trade liberalisation process threatened to go into reverse.

With his trade expertise and a voice made for Twitter, Dmitry Grozoubinski was – as he admits in Why Politicians Lie About Trade: … and What You Need to Know About It (Canbury Press, 2024) - “in the right place at the right time with the right credentials to stand in front of the firehose of bullshit that was the public debate around trade policy in the late 2010s and cry: ‘um, no, that's not how that works".

Executive director of the Geneva Trade Platform and founder of ExplainTrade, Grozoubinski was once an Australian diplomat who negotiated trade agreements in Geneva at the World Trade Organization. Before joining the Australian civil service, he taught at the Monash Graduate School of Business, where he took his Masters in Diplomacy and Trade.

*The author's book recommendations are The Great Convergence: Information Technology and the New Globalization by Richard Baldwin (Harvard University Press, 2019) and The Art of Explanation: How to Communicate with Clarity and Confidence by Ros Atkins (Wildfire, 2023).

Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes the twenty4two newsletter on Substack.

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How can we restore America's frontier spirit, foster innovation, and stave off decay? Chris Buskirk sits down to discuss his new book America and the Art of the Possible: Restoring National Vitality in an Age of Decay. Along the way, he delves into the history of innovation from Augustan Rome to the Scottish Enlightenment to Silicon Valley, whether America is an oligarchy or an aristocracy, how our education system can better support American needs, and more.

Chris Buskirk is the founder, editor, publisher of the magazine American Greatness, as well as a contributing opinion writer for The New York Times. A serial entrepreneur, he is also the Founder & Chief Investment Officer of 1789 Capital.

Contributions to and/or sponsorship of any event does not constitute departmental or institutional endorsement of the specific program, speakers or views presented.

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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 Prosperity (Oxford UP, 2023), Mark Robert Rank develops his unique perspective for understanding this puzzle.

The approach is what he has defined over the years as structural vulnerability. Central to this new way of thinking is the distinction between those who lose out at the economic game versus why the game produces losers in the first place. Americans experiencing poverty tend to have certain characteristics placing them at a greater risk of impoverishment. Yet poverty results not from these factors, but rather from a lack of sufficient opportunities in society. In particular, the shortage of decent paying jobs and a strong safety net are paramount.

Based upon this understanding, Rank goes on to detail a variety of strategies and programs to effectively alleviate poverty in the future. Implementing these policies has the added benefit of reinforcing several of the nation's most important values and principles. The Poverty Paradox represents a game changing examination of poverty and inequality. It provides the essential blueprint for finally combatting this economic injustice in the years ahead.

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In his latest book, The Road to Freedom: Economics and the Good Society (W. W. Norton, 2024), Nobel laureate Joseph E. Stiglitz rethinks the nature of freedom and its relationship to capitalism. 

While many agree that freedom is good and we want more of it, we don’t agree about what it is, whose freedom we’re talking about, or what outcomes we desire.

Stiglitz asks the question: whose freedom are we talking about, and what happens when one person’s freedom means a loss of freedom for someone else?

Narratives of neoliberalism have been accepted as gospel despite decades of research showing that less regulation and more trust in the 'hidden hand' of free market economics do not produce greater prosperity or freedom for most individuals. 

Stiglitz examines how unregulated markets reduce economic opportunities for majorities by prioritizing the freedom of corporations and wealthy individuals over that of individuals, resulting in the siphoning wealth from the many to ensure the freedom of the few, from property and intellectual rights to education and opportunity. 

The Road to Freedom re-evaluates of what constitutes a good society and provides a roadmap to achieve it.

Recommended reading:  The Groves of Academe by Mary McCarthy

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The low-wage service industry is one of the fastest-growing employment sectors in the US economy. Its workers disproportionately tend to be low-income and minority women. Service sector work entails rigid forms of temporal discipline manifested in work requirements for flexible, last-minute, and round-the-clock availability, as well as limited to no eligibility for sick and parental leaves, all of which impact workers’ ability to care for themselves and their dependents.

Pregnant at Work: Low-Wage Workers, Power, and Temporal Injustice (NYU Press, 2024) examines the experiences of pregnant service sector workers in New York City as they try to navigate the time conflicts between precarious low-wage service labor and safety net prenatal care. Through interviews and fieldwork in a prenatal clinic of a public hospital, Elise Andaya vividly describes workers’ struggles to maintain expected tempos of labor as their pregnancies progress as well as their efforts to schedule and attend prenatal care, where waiting is a constant factor—a reflection of the pervasive belief that poor people’s time is less valuable than that of other people.

Pregnant at Work is a compelling examination of the ways in which power and inequalities of race, class, gender, and immigration status are produced and reproduced in the US, including in individual pregnant bodies. The stories of the pregnant workers featured in this book underscore the urgency of movements towards temporal justice and a new politics of care in the twenty-first century.

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Indonesia is the world's second largest cigarette market: two out of three men smoke, and clove-laced tobacco cigarettes called kretek make up 95 percent of the market. To account for the staggering success of this lethal industry, Kretek Capitalism: Making, Marketing, and Consuming Clove Cigarettes in Indonesia (University of California Press, 2024) moves beyond a focus on the addictive hold of nicotine to examine how kretek manufacturers have adopted global tobacco technologies and enlisted Indonesians to labor on their behalf in fields and factories, at retail outlets and social gatherings, and online. The book charts how Sampoerna, a Philip Morris International subsidiary, uses contracts, competitions, and gender, class, and age hierarchies to extract overtime, shift, seasonal, gig, and unpaid labor from workers, influencers, artists, students, retailers, and consumers. Critically engaging nationalist claims about the commodity's cultural heritage and the jobs it supports, Marina Welker shows how global capitalism has transformed both kretek and the labor required to make and promote it. 

Marina Welker is Professor of Anthropology at Cornell University and author of Enacting the Corporation: An American Mining Firm in Post-Authoritarian Indonesia. 

Reighan Gillam is an Associate Professor in the Department of Latin American, Latino, and Caribbean Studies at Dartmouth College. Her research examines the ways in which Afro-Brazilian media producers foment anti-racist visual politics through their image creation. She is the author of Visualizing Black Lives: Ownership and Control in Afro-Brazilian Media (University of Illinois Press).

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Development is political but what does that mean for how we solve some of the biggest challenges facing the world today? A pathbreaking new book, The Politics of Development (Sage, 2024), sets out to answer this question and many more. Why is it so hard to reduce corruption, deliver good quality healthcare, and create more equal societies? And what can be done to remove these blockages, so that politics goes from being the problem to the solution? Join three of the editors – Claire Mcloughlin, David Hudson and People, Power, Politics host Nic Cheeseman – as they talk about the novel approach of their volume (co-edited with Sameen Ali and Kailing Xie) and the many lessons it reveals about why getting it right can be so hard. Listen now to find out why The Politics of Development is “destined to become essential reading” (Duncan Greene)!

Claire Mcloughlin is Associate Professor at the International Development Department, University of Birmingham, and the lead editor of The Politics of Development.

David Hudson is Professor of Politics and Development, also at the International Development Department, University of Birmingham, and an editor of The Politics of Development.

Nic Cheeseman is the Professor of Democracy and International Development at the University of Birmingham and Founding Director of CEDAR, and was also an editor of The Politics of Development.

The People, Power, Politics podcast brings you the latest insights into the factors that are shaping and re-shaping our political world. It is brought to you by the Centre for Elections, Democracy, Accountability and Representation (CEDAR) based at the University of Birmingham, United Kingdom. Join us to better understand the factors that promote and undermine democratic government around the world and follow us on X (Twitter) at @CEDAR_Bham!

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In The Turn to Process: American Legal, Political, and Economic Thought, 1870-1970 (Cambridge University Press, 2023), Kunal M. Parker explores the massive reorientation of American legal, political, and economic thinking between 1870 and 1970. Over this period, American conceptions of law, democracy, and markets went from being oriented around truths, ends, and foundations to being oriented around methods, processes, and techniques. No longer viewed as founded in justice and morality, law became a way of doing things centered around legal procedure. Shedding its foundations in the 'people,' democracy became a technique of governance consisting of an endless process of interacting groups. Liberating themselves from the truths of labor, markets and market actors became intellectual and political techniques without necessary grounding in the reality of human behavior. Contrasting nineteenth and twentieth century legal, political, and economic thought, this book situates this transformation in the philosophical crisis of modernism and the rise of the administrative state.

Kunal M. Parker is a Professor of Law and Dean's Distinguished Scholar at the University of Miami.

Caleb Zakarin is editor of the New Books Network.

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For centuries, the vastness of the Chinese market tempted foreign companies in search of customers. But in the 1970s, when the United States and China ended two decades of Cold War isolation, China’s trade relations veered in a very different direction. In Made in China: When US-China Interests Converged to Transform Global Trade (Harvard University Press, 2024) Dr. Elizabeth Ingleson shows how the interests of US business and the Chinese state aligned to reframe the China market: the old dream of plentiful customers gave way to a new vision of low-cost workers by the hundreds of millions. In the process, the world’s largest communist state became an indispensable component of global capitalism.

Drawing on Chinese- and English-language sources, including previously unexplored corporate papers, Ingleson traces this transformation to the actions of Chinese policymakers, US diplomats, maverick entrepreneurs, Chinese American traders, and executives from major US corporations including Boeing, Westinghouse, J. C. Penney, and Chase Manhattan Bank. Long before Walmart and Apple came to China, businesspeople such as Veronica Yhap, Han Fanyu, Suzanne Reynolds, and David Rockefeller instigated a trade revolution with lasting consequences. And while China’s economic reorganisation was essential to these connections, Ingleson also highlights an underappreciated but crucial element of the convergence: the US corporate push for deindustrialization and its embrace by politicians.

Reexamining two of the most significant transformations of the 1970s—US-China rapprochement and deindustrialization in the United States—Made in China takes bilateral trade back to its faltering, uncertain beginnings, identifying the tectonic shifts in diplomacy, labor, business, and politics in both countries that laid the foundations of today’s globalized economy.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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India’s stock markets are booming. One calculation from Bloomberg puts India as the world’s fourth-largest equity market, overtaking Hong Kong, as domestic and foreign investors pile into the Indian stock exchange.

But getting to the point where India’s stock markets—and its financial system more broadly—could work effectively took a long time. As Rajrishi Singhal tells it in Slip, Stitch and Stumble: The Untold Story of Financial Reforms in India (Viking, 2024), India’s financial system suffered from antiquated procedures, cartels and a confused paper trail that left the door for abuse wide open.

In this interview, Rajrishi and I talk about India’s financial sector, its earlier dysfunction, how it was fixed—and scammers like Harshad Mehta, “The Big Bull.”

Rajrishi Singhal has been a senior journalist, banker and public policy analyst. He was executive editor at the Economic Times, consulting editor with Mint, research and strategy head at a private sector bank and senior fellow for geoeconomic studies at a Mumbai-based think tank.

You can find more reviews, excerpts, interviews, and essays at The Asian Review of Books. Follow on Twitter at @BookReviewsAsia.

Nicholas Gordon is an editor for a global magazine, and a reviewer for the Asian Review of Books. He can be found on Twitter at@nickrigordon.

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The whole world has a stake in India's future, and that future hinges on whether India can develop its economy and deliver for its population--now the world's largest--while staying democratic. India's economy has overtaken the United Kingdom's to become the fifth-largest in the world, but it is still only one-fifth the size of China's, and India's economic growth is too slow to provide jobs for millions of its ambitious youth. Blocking India's current path are intense global competition in low-skilled manufacturing, increasing protectionism and automation, and the country's majoritarian streak in politics. In Breaking the Mold: India’s Untraveled Path to Prosperity (Princeton UP, 2024), Raghuram Rajan and Rohit Lamba show why and how India needs to blaze a new path if it's to succeed.

India diverged long ago from the standard development model, the one followed by China--from agriculture to low-skilled manufacturing, then high-skilled manufacturing and, finally, services--by leapfrogging intermediate steps. India must not turn back now. Rajan and Lamba explain how India can accelerate growth by prioritizing human capital, expanding opportunities in high-skilled services, encouraging entrepreneurship, and strengthening rather than weakening its democratic traditions. It can chart a path based on ideas and creativity even at its early stage of development.

Filled with vivid examples and written with incisive candor, Breaking the Mold shows how India can break free of the stumbling blocks of the past and embrace the enormous possibilities of the future.

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In 1974 the government of Jordan established a new ministry to oversee a nationwide scheme to buy and distribute subsidized flour and regulate bakeries. The scheme sets terms for the politics that are the subject of a new book: States of Subsistence: The Politics of Bread in Contemporary Jordan (Stanford University Press, 2022). Rest assured, this is no dull account of state welfare that posits and tests for a two-dimensional relationship between the delivery of a staple food and public acquiescence to authoritarian rule. Far from it! To explain these politics, José Ciro Martínez goes to work baking, and taking the reader through kitchens, byways and marketplaces. Via descriptions of bakers and regulators, and interviews with consumers and policymakers, he offers a sophisticated account of how the state meets the stomach in Jordan, and how both citizens and bureaucracy are changed through this intra-action.

States of Subsistence was the winner of the 2023 Roger Owen Book Award, sponsored by the Middle East Studies Association, and singled out for an honourable mention by the 2023 Charles Taylor Book Award committee of the American Political Science Association’s Interpretive Methodologies and Methods Group.

If you like this episode of New Books in Interpretive Political and Social Science then you might also be interested in Mona El Ghobashy on Bread and Freedom: Egypt’s Revolutionary Situation, or Gerard McCarthy on Outsourcing the Polity: Non-state Welfare, Inequality and Resistance in Myanmar.

José’s book recommendations are:

• Teo Ballvé, The Frontier Effect: State Formation and Violence in Colombia
• Lauren Berlant, On the Inconvenience of Other People
• Hisham Matar, My Friends

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Forest fires, droughts, and rising sea levels beg a nagging question: have we lost our capacity to act on the future? Dr. Liliana Doganova’s book Discounting the Future: The Ascendancy of a Political Technology (Princeton University Press, 2024) sheds new light on this anxious query. It argues that our relationship to the future has been trapped in the gears of a device called discounting. While its incidence remains little known, discounting has long been entrenched in market and policy practices, shaping the ways firms and governments look to the future and make decisions accordingly. Thus, a sociological account of discounting formulas has become urgent.

Discounting means valuing things through the flows of costs and benefits that they are likely to generate in the future, with these future flows being literally dis-counted as they are translated in the present. How have we come to think of the future, and of valuation, in such terms? Building on original empirical research in the historical sociology of discounting, Dr. Doganova takes us to some of the sites and moments in which discounting took shape and gained momentum: valuation of European forests in the eighteenth and nineteenth centuries; economic theories devised in the early 1900s; debates over business strategies in the postwar era; investor-state disputes over the nationalisation of natural resources; and drug development in the biopharmaceutical industry today. Weaving these threads together, the book pleads for an understanding of discounting as a political technology, and of the future as a contested domain.

This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.

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America's elite law firms, investment banks, and management consulting firms are known for grueling hours, low odds of promotion, and personnel practices that push out any employees who don't advance. While most people who begin their careers in these institutions leave within several years, work there is especially difficult for Black professionals, who exit more quickly and receive far fewer promotions than their White counterparts, hitting a "Black ceiling."

Sociologist and law professor Kevin Woodson knows firsthand what life at a top law firm feels like as a Black man. Examining the experiences of more than one hundred Black professionals at prestigious firms, Woodson discovers that their biggest obstacle in the workplace isn't explicit bias but racial discomfort, or the unease Black employees feel in workplaces that are steeped in Whiteness. He identifies two types of racial discomfort: social alienation, the isolation stemming from the cultural exclusion Black professionals experience in White spaces, and stigma anxiety, the trepidation they feel over the risk of discriminatory treatment. While racial discomfort is caused by America's segregated social structures, it can exist even in the absence of racial discrimination, which highlights the inadequacy of the unconscious bias training now prevalent in corporate workplaces. Firms must do more than prevent discrimination, Woodson explains, outlining the steps that firms and Black professionals can take to ease racial discomfort.

Offering a new perspective on a pressing social issue, The Black Ceiling: How Race Still Matters in the Elite Workplace (U Chicago Press, 2023) is a vital resource for leaders at preeminent firms, Black professionals and students, managers within mostly White organizations, and anyone committed to cultivating diverse workplaces.

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Amy Schiller's The Price of Humanity: How Philanthropy Went Wrong—And How to Fix It (Melville House, 2023) makes an attempt to rescue philanthropy from its progressive decline into vanity projects that drive wealth inequality, so that it may support human flourishing as originally intended. The word “philanthropy” today makes people think big money—Bill and Melinda Gates, Warren Buffet, and Andrew Carnegie come to mind. The scope of suffering in the world seems to demand an industry of giving, and yet for all the billions that are dispensed, the wealthy never seem to lose any of their money and nothing seems to change. 

Journalist, academic and consultant Schiller shows how we get out of this stalemate by evaluating the history of philanthropy from the ideas of St. Augustine to the work of Lebron James. She argues philanthropy’s contemporary tendency to maintain obscene inequality and reduce every cause to dehumanizing technocratic terms is unacceptable, while maintaining an optimism about the soul and potential of philanthropy in principle. For philanthropy to get back to its literal roots—the love of humanity—Schiller argues that philanthropy can no longer be premised around basic survival. Public institutions must assume that burden so that philanthropy can shift its focus to initiatives that allow us to flourish into happier, more fulfilled human beings. Philanthropy has to get out of the business of saving lives if we are to save humanity.

Amy Schiller is a postdoctoral fellow at Dartmouth College in the Society of Fellows. Twitter. Website.

Brian Hamilton is chair of the Department of History and Social Science at Deerfield Academy. Twitter. Website. Anna Dyjach is a senior at Deerfield.  

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How do alternative economic ideas and practices develop? In Cash, Clothes, and Construction: Rethinking Value in Bolivia’s Pluri-economy (U Minnesota Press, 2023),  Kate Maclean, an Associate Professor at the Institute for Global Prosperity, University College London, considers the Pluri-economy of Bolivia to rethink ideas about gender, politics, development and the state. The book uses three core case studies, money, clothing, and construction, to explore how economic alternatives have emerged in Bolivia since the 2005 election of Evo Morales and the Movement for Socialism (MAS). The book offers a feminist critique of both the expectations of neoliberal economics, and MAS’s alternatives, drawing on the perspectives and insights of indigenous women in Bolivia. Drawing on a deep engagement with place, as well as a rich theoretical and empirical contribution, the book will be essential reading across social science and humanities, as well as for anyone interested in alternatives to our current economic settlement.

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The promise that you can "pull yourself up by your bootstraps" is central to the story of the American Dream. It's the belief that if you work hard and rely on your own resources, you will eventually succeed. However, time and again we have seen how this foundational myth, with its emphasis on individual determination, brittle self-sufficiency, and personal accomplishment, does not help us. Instead, as income inequality rises around us, we are left with shame and self-blame for our condition.

Alissa Quart argues that at the heart of our suffering is a do-it-yourself ethos, the misplaced belief in our own independence and the conviction that we must rely on ourselves alone. Looking at a range of delusions and half solutions--from "grit" to the false Horatio Alger story to the rise of GoFundMe--Quart reveals how we have been steered away from robust social programs that would address the root causes of our problems. Meanwhile, the responsibility for survival has been shifted onto the backs of ordinary people, burdening generations with debt instead of providing the social safety net we so desperately need.

Insightful, sharply argued, and characterized by Quart's lively writing and deep reporting, and for fans of Evicted and Nickel and Dimed, Bootstrapped: Liberating Ourselves from the American Dream (Ecco Press, 2023) is a powerful examination of what ails us at a societal level and a plan for how we can free ourselves from these self-defeating narratives

Acclaimed journalist Alissa Quart is a contributor to The Washington Post and New York Times and the author of several nonfiction works including Branded: The Buying and Selling of Teenagers and Squeezed: Why our Families Can’t Afford America, as well as works of poetry like Thoughts and Prayers. Alissa Quart is the executive director of the Economic Hardship Reporting Project and the editor with David Wallis of Going for Broke: Living on the Edge in the world’s richest country which we discussed on this podcast in February.

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Despite the hypervisibility of a constellation of female pop stars, the music business is structured around gender inequality. As a result, women in the music industry often seize on self-branding opportunities in fashion, cosmetics, food, and technology for the purposes of professional longevity. Extending Play: The Feminization of Collaborative Music Merchandise in the Early Twenty-First Century (Oxford UP, 2023) examines the ubiquity of brand partnerships in the contemporary music industry through the lens of feminized labor, to demonstrate how female artists use them as a resource for artistic expression and to articulate forms of popular feminism through self-commodification. In this book, author Alyxandra Vesey examines this type of promotional work and examines its proliferation in the early 21st century.

Though brand partnerships exist across all media industries, they are a distinct phenomenon for the music business because of their associations with fan club merchandise, concert merchandise, and lifestyle branding, often foregrounding women's participation in shaping these economies through fan labor and image management. Through textual and discourse analysis of artists' songs, music videos, interviews, social media usage, promotional campaigns, marketing strategies, and business decisions, Extending Play investigates how female musicians co-create branded feminine-coded products like perfume, clothes, makeup, and cookbooks and masculine-coded products like music equipment as resources to work through their own ideas about gender and femininity as workers in industries that often use sexism and ageism to diminish women's creative authority and diminish the value of the recording in order to incentivize musicians to internalize the demands of industrial convergence.

By merging star studies, popular music studies, and media industry studies, Extending Play proposes an integrated methodology for approaching contemporary cultural history that demonstrates how female-identified musicians have operated as both a hub for industrial convergence and as music industry professionals who use their extramusical skills to reassert their creative acumen.

Alyxandra Vesey is Assistant Professor in Journalism and Creative Media at the University of Alabama. Her research focuses on the gendered dynamics of creative labor in the music industries. Her work has appeared in Journal of Cinema and Media Studies, Feminist Media Studies, Television and New Media, Journal of Popular Music Studies, Camera Obscura, Velvet Light Trap, and Emergent Feminisms: Complicating a Postfeminist Media Culture. Alyxandra on Twitter.

Bradley Morgan is a media arts professional in Chicago and author of U2's The Joshua Tree: Planting Roots in Mythic America. He manages partnerships on behalf of CHIRP Radio 107.1 FM, serves as a co-chair of the associate board at the Gene Siskel Film Center of the School of the Art Institute of Chicago, and volunteers in the music archive at the Old Town School of Folk Music. Bradley Morgan on Twitter.

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What are the tactics needed for a world of platforms and algorithms? In Algorithms of Resistance: The Everyday Fight against Platform Power (MIT Press, 2024), Tiziano Bonini, Associate Professor in Sociology of Culture and Communication at the University of Siena, and Emiliano Treré, a Reader in Data Agency and Media Ecologies at Cardiff University, examine the impact of platforms and algorithms on people, communities, and global social life. The book explores these issues using three case studies of gig work, culture, and politics. At its heart, the book demonstrates the potential for transforming the seeming total control of platforms and algorithms through the tactics and strategies of workers, artists, and social movements. The book is essential reading across humanities, social sciences, and computing, as well as for anyone interested in contemporary digital life. The book is available open access here.

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In 1647, the French author Étienne Cleirac asserted in his book Les us, et coustumes de la mer that the credit instruments known as bills of exchange had been invented by Jews. In The Promise and Peril of Credit: What a Forgotten Legend about Jews and Finance Tells Us about the Making of European Commercial Society (Princeton University Press, 2019), Francesca Trivellato draws upon the economic, cultural, intellectual, and business history of the period to trace the origin of this myth and what its usage in early modern Europe reveals about contemporary views of both commerce and Judaism. Trivellato begins by explaining the development of bills of exchange in the Middle Ages as a means of transferring funds across long distances, ones which helped the expansion of international trade. Though used by both Christians and Jews, concerns about crypto-Judaism among converted Christians in the town of Bordeaux where Cleirac lived may have been key to his belief in their association with the bills. From Cheirac’s book the myth then spread throughout much of western and central Europe during the 18th and 19th centuries, where it was used both to support anti-Semitic views and as examples by philo-Semitic writers such as Montesquieu of the superior commercial ability of Jews.

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In many countries, property law grants equal rights to men and women. Why, then, do women still accumulate less wealth than men? Combining quantitative, ethnographic, and archival research, The Gender of Capital: How Families Perpetuate Wealth Inequality (Harvard UP, 2023) explains how and why, in every class of society, women are economically disadvantaged with respect to their husbands, fathers, and brothers. The reasons lie with the unfair economic arrangements that play out in divorce proceedings, estate planning, and other crucial situations where law and family life intersect.

Céline Bessière and Sibylle Gollac argue that, whatever the law intends, too many outcomes are imprinted with unthought sexism. In private decisions, old habits die hard: families continue to allocate resources disproportionately to benefit boys and men. Meanwhile, the legal profession remains in thrall to assumptions that reinforce gender inequality. Bessière and Gollac marshal a range of economic data documenting these biases. They also examine scores of family histories and interview family members, lawyers, and notaries to identify the accounting tricks that tip the scales in favor of men.

Women across the class spectrum—from poor single mothers to MacKenzie Scott, ex-wife of Amazon billionaire Jeff Bezos—can face systematic economic disadvantages in divorce cases. The same is true in matters of inheritance and succession in family-owned businesses. Moreover, these disadvantages perpetuate broader social disparities beyond gender inequality. As Bessière and Gollac make clear, the appropriation of capital by men has helped to secure the rigid hierarchies of contemporary class society itself.

Céline Bessière is Professor of Sociology at the University of Paris-Dauphine.

Sibylle Gollac is a researcher in sociology at the National Centre for Scientific Research. 

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.

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