New Books in Economics

With the Biden Administration's student loan relief coming down the pike, Annika sits down with Dr. Beth Akers, a Senior Fellow at the American Enterprise Institute who specializes in higher education finance. Beth discusses the issue of student debt, and what the Biden relief plan will and will not achieve.  You can find more information about Dr. Akers and her recent writing and appearances here. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

We all know that things are a little more expensive when we head to the grocery store. But what does inflation actually mean? How did we get to where we are, and what happens next? What does history have to say about our current economic situation? Annika sits down with Tyler Goodspeed of the Hoover Institution. Dr. Goodspeed served in the White House as Acting Chairman of the Council of Economic Advisers from 2020-2021, and was formerly on the Faculty of Economics at the University of Oxford, where he specialized in financial history.    Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Andrew Popp, a professor of history at Copenhagen Business School, and Jonathan Coopersmith, a professor (retired) of history at Texas A&M, talk about a recent special issue they edited in the journal History Compass with Peoples & Things host, Lee Vinsel. The special issue brought together a number of business historians to assess the historical arguments of Thomas Piketty’s 2019 book, Capital and Ideology, which argues that societies have developed a number of ideologies to justify inequality. While largely sympathetic to Piketty’s aims, the historians involved prod and criticize aspects of his argument and evidence. Popp, Coopersmith, and Vinsel also discuss the need for more historians, particularly business historians, to focus on the history of inequality. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Elizabeth Tandy Shermer, an associate professor of history at Loyola University Chicago, talks about her book, Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in Debt, with Peoples & Things host, Lee Vinsel. Indentured Students examines the long history of student loans in the United States, including important turning points in the 1960s. Shermer argues that elected officials have preferred student loans as an answer to an important social problem, the perceived-need for college education, over more structural solutions. Shermer and Vinsel also talk about what this legacy of debt means today as well as what recent public discussions about student debt might portend for the future. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Leif Wenar the Chair of Philosophy and Law at Kings College London. He is the author of the 2016 book Blood Oil: Tyrants, Violence, and the Rules that Run the World. This book has led to the publication, in 2018, of a companion volume, Beyond Blood Oil: Philosophy, Policy, and the Future. The "Why We Argue" podcast is produced by the Humanities Institute at the University of Connecticut as part of the Humility and Conviction in Public Life project. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Michael Sandel is Anne T. and Robert M. Bass Professor of Government at Harvard University. Sandel is an internationally renowned political philosopher who Newsweek has lauded as “the world’s most relevant living philosopher.” His latest project is a video series titled What Money Can’t Buy, which has Michael and an international group of college students exploring the question “What, if anything, is wrong with a world in which everything is for sale?” You can view the series for free at whatmoneycantbuy.org. The "Why We Argue" podcast is produced by the Humanities Institute at the University of Connecticut as part of the Humility and Conviction in Public Life project. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Tommie Shelby is Caldwell Titcomb Professor of African and African-American Studies, and Professor of Philosophy at Harvard University. His research focuses on political equality and problems of economic, social, and criminal justice. His most recent book is Dark Ghettos: Injustice, Dissent, and Reform, which is published by Harvard University Press.  The "Why We Argue" podcast is produced by the Humanities Institute at the University of Connecticut as part of the Humility and Conviction in Public Life project. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In The Indebted Woman: Kinship, Sexuality, and Capitalism (Stanford UP, 2023), the authors Isabelle Guérin, Santosh Kumar and G. Venkatasubramanian conceptualise how gender, debt, and capitalism are related. For over ten years, the researchers have been working in the Indian countryside of east-central Tamil Nadu, observing a credit market that specifically targets Dalit women. The book highlights not only the ways how credit is distributed, but also how it is repaid. Combining in-depth ethnography with statistical surveys and financial diaries advanced the understanding of how Dalit women deal with debt, exposing the ways in which capitalism shapes womanhood. The authors' nuanced attention to body, identity, caste, and class provides a comprehensive theory of the sexual division of debt for the first time.  Isabelle Guérin is Senior Research Fellow at the French Institute of Research for Sustainable Development, and Associate at the French Institute of Pondicherry. Santosh Kumar is a part-time researcher and founder and head of the Mithralaya School of music, dance, and arts. G. Venkatasubramanian has been a sociologist and Research Fellow at the French Institute of Pondicherry for the past thirty-five years. Sarah Vogelsanger is a researcher on social justice, gender, art and migration, based in London. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Peoples & Things host, Lee Vinsel, chats with Verena Halsmeyer, a postdoctoral fellow at the University of Vienna, about her recent, award-winning book, Managing Growth in Miniature: Solow’s Model as an Artifact. The book explores the history of the way economists think about growth, including the role of technological change in it. It focuses on the period between the 1930s and 1960s, tracing the development of the famed 'Solow growth model,' one of the central mathematical models in postwar economics. The pair also talk about the intersections between the history of science and the history of economics and how we all can learn to focus on practices - that is, what people do - rather than on ideas alone. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Are you looking for an alternative to a career path at a big firm? Does founding your own start-up seem too risky? There is a radical third path open to you: You can buy a small business and run it as CEO. Purchasing a small company offers significant financial rewards--as well as personal and professional fulfillment. Leading a firm means you can be your own boss, put your executive skills to work, fashion a company environment that meets your own needs, and profit directly from your success. But finding the right business to buy and closing the deal isn't always easy. In the HBR Guide to Buying a Small Business: Think Big, Buy Small, Own Your Own Company (Harvard Business Review Press, 2017), Harvard Business School professors Richard Ruback and Royce Yudkoff help you: Determine if this path is right for you Raise capital for your acquisition Find and evaluate the right prospects Avoid the pitfalls that could derail your search Understand why a "dull" business might be the best investment Negotiate a potential deal with the seller Avoid deals that fall through at the last minute Arm yourself with the advice you need to succeed on the job, with the most trusted brand in business. Packed with how-to essentials from leading experts, the HBR Guides provide smart answers to your most pressing work challenges. Listen to the Think Big, Buy Small podcast. Richard S. Ruback is the Willard Prescott Smith Professor of Corporate Finance at Harvard Business School. Royce Yudkoff is a Professor of Management Practice at Harvard Business School. Yudkoff cofounded and served for over 20 years as Managing Partner of ABRY Partners, a leading private equity investment firm. Caleb Zakarin is editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

“If I had been enslaved for a year or two, I might not be able to believe in humanity any more.” “I am a victim of modern slavery.” These chilling words come from a Taiwanese female lured by a fake job offer, only to be sold into a scam compound in Cambodia. She is not alone. She is one of thousands deceived into this industry—people who left home hoping for a better life, only to find themselves trapped in a living nightmare. Scam: Inside Southeast Asia's Cybercrime Compounds (Verso Books, 2025) arrives at a critical moment, shedding light on one of the world’s fastest-growing criminal economies: Southeast Asia’s online scam industry. Running the gamut from the notorious “pig butchering” romance scams to elaborate online extortion and investment frauds, this system has transformed parts of the region into global hubs of cybercrime. Meticulously researched and grounded in years of fieldwork, Scam offers an unflinching look into the prison-like compounds that have mushroomed across multiple countries. Within these walled complexes, victims are often coerced into becoming perpetrators—trapped in what the authors describe as “compound capitalism,” a chilling hybrid of enslavement and exploitation. Scam traces how small-scale online gambling rings evolved into an international “scamdemic,” accelerated by the disruptions of COVID-19. It examines the “victim–offender trap”, a moral and psychological paradox that makes empathy difficult for outsiders. The result is a deeply human investigation into how modern slavery adapts to digital capitalism. The authors uncover the operations of scam compounds across Southeast Asia. In my interview with Ling and Ivan, what stood out was not only their depth of knowledge but their compassion. They used their skills to build trust with victims, gather evidence, and, in some cases, help orchestrate rescues. Their work is both rigorous and profoundly humane, illuminating a crisis that grows more complex each day. Though many of those involved—both perpetrators and victims—are ethnically Chinese, the networks now span continents. The scam compounds are a global phenomenon, built on economic desperation, weak governance, and digital interconnectivity. Scam is more than an exposé. It is a call to action and a vital first step toward understanding a new form of global exploitation—where modern technology and ancient cruelty combine to create a system that enslaves the vulnerable and profits from despair. Ling Li is pursuing a PhD at Ca’ Foscari University of Venice with a focus on the role of technology in enabling modern slavery and human trafficking in East and Southeast Asia. In the past few years, she has been providing support to survivors of scam compounds in Southeast Asia, interacting with local and international civil society organisations to bring them relief and help with repatriation. Ivan Franceschini is a lecturer at the Asia Institute, University of Melbourne. His current research focuses on ethnic Chinese transnational crime, especially in the field of online fraud. He co-founded the Made in China Journal and The People’s Map of Global China/ Global China Pulse. His books include Proletarian China (2022), Global China as Method (2022), and Afterlives of Chinese Communism (2019). He also co-directed the documentaries Dreamwork China (2011) and Boramey (2021). Mark Bo is a researcher who has been based in East and Southeast Asia for 2 decades. He has worked globally with local civil society partners to monitor and advocate for improved environmental and social practices in development projects and utilises his background in corporate and financial mapping to investigate stakeholders involved in Asia’s online gambling, fraud, and money laundering industries. Bing Wang receives her PhD at the University of Leeds in 2020. Her research interests include the exploration of overseas Chinese cultural identity and critical heritage studies. She is also a freelance translator. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

For more than 150 years, Italy has been home to a resilient and evolving resistance against the pervasive influence of mafias. While these criminal organizations are renowned for their vast international business enterprises, the collective actions taken to oppose them are less known. In Opposition by Imitation: The Economics of Italian Anti-Mafia Activism (U Minnesota Press, 2025), Dr. Christina Jerne explores anti-mafia activism, revealing how ordinary people resist, counter, and prevent criminal economies from proliferating. Drawing on ethnographic fieldwork among anti-mafia alliances in Campania, Sicily, and other parts of Italy, Dr. Jerne details a particular aspect of mafia activities: providing cash relief and other forms of patronage to individuals and groups. Her research shows how activism has evolved to imitate this sustaining role. Activists are increasingly challenging mafia control both by creating alternative economies—from producing food that interrupts mafia labor practices to organizing tourism that supports anti-mafia hospitality—and by subversively adopting business tactics similar to the mafia’s to compete with their social influence and legitimacy. Exposing the political implications of this mimetic opposition, Dr. Jerne points to its potential impact on crime prevention and criminalization, both in Italy and globally. Opposition by Imitation shows how these modern-day Robin Hoods are redefining collective action, taking what was controlled by the mafias and returning it to the collective. This contentious economic turn, against the backdrop of broader social movements, reveals significant political possibilities afforded by imitative opposition. 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. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In How Progress Ends: Technology, Innovation, and the Fate of Nations (Princeton University Press, 2025), Carl Benedikt Frey challenges the conventional belief that economic and technological progress is inevitable. For most of human history, stagnation was the norm, and even today progress and prosperity in the world's largest, most advanced economies--the United States and China--have fallen short of expectations. To appreciate why we cannot depend on any AI-fueled great leap forward, Frey offers a remarkable and fascinating journey across the globe, spanning the past 1,000 years, to explain why some societies flourish and others fail in the wake of rapid technological change. By examining key historical moments--from the rise of the steam engine to the dawn of AI--Frey shows why technological shifts have shaped, and sometimes destabilized, entire civilizations. He explores why some leading technological powers of the past--such as Song China, the Dutch Republic, and Victorian Britain--ultimately lost their innovative edge, why some modern nations such as Japan had periods of rapid growth followed by stagnation, and why planned economies like the Soviet Union collapsed after brief surges of progress. Frey uncovers a recurring tension in history: while decentralization fosters the exploration of new technologies, bureaucracy is crucial for scaling them. When institutions fail to adapt to technological change, stagnation inevitably follows. Only by carefully balancing decentralization and bureaucracy can nations innovate and grow over the long term--findings that have worrying implications for the United States, Europe, China, and other economies today. Through a rich narrative that weaves together history, economics, and technology, How Progress Ends reveals that managing the future requires us to draw the right lessons from the past. Carl Benedikt Frey is the Dieter Schwarz Associate Professor of AI and Work at the Oxford Internet Institute and Oxford Martin Citi Fellow at the Oxford Martin School, both at the University of Oxford. Caleb Zakarin is editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Americans have always fought over the meaning of freedom and equality. What is not commonly recognized is that the battles most pivotal in defining our democracy, from the framing of the Constitution to the decades-long backlash to the civil rights movement, hinged on one issue—taxes.In The Price of Democracy: The Revolutionary Power of Taxation in American History (Basic Books, 2025), Vanessa S. Williamson challenges the myth that Americans are instinctively anti-tax, revealing that fights over taxes have always been proxies for deeper conflicts over who is included in “We the People.” Poorer people have repeatedly built movements that sought to tax all Americans to create a more equal and democratic nation. Wealthy people have responded by constraining the power to tax and stifling democracy through voting restrictions, gerrymandering, and violence. Yet as hard as anti-tax crusaders have fought to create an America that redistributes not from rich to poor, but from non-white people to rich white people, the battle rages on.The Price of Democracy uncovers how fights for fiscal fairness have defined American history, delivering a powerful message to the present: that taxes are the public’s most powerful weapon in the fight for a real democracy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

It's easy to be pessimistic about inequality. We know it has increased dramatically in many parts of the world over the past two generations. No one has done more to reveal the problem than Thomas Piketty. Now, in this surprising and powerful new work, Piketty reminds us that the grand sweep of history gives us reasons to be optimistic. Over the centuries, he shows, we have been moving toward greater equality. In A Brief History of Equality (Harvard UP, 2022), Piketty guides us with elegance and concision through the great movements that have made the modern world for better and worse: the growth of capitalism, revolutions, imperialism, slavery, wars, and the building of the welfare state. It's a history of violence and social struggle, punctuated by regression and disaster. But through it all, Piketty shows, human societies have moved fitfully toward a more just distribution of income and assets, a reduction of racial and gender inequalities, and greater access to health care, education, and the rights of citizenship. Our rough march forward is political and ideological, an endless fight against injustice. To keep moving, Piketty argues, we need to learn and commit to what works, to institutional, legal, social, fiscal, and educational systems that can make equality a lasting reality. At the same time, we need to resist historical amnesia and the temptations of cultural separatism and intellectual compartmentalization. At stake is the quality of life for billions of people. We know we can do better, Piketty concludes. The past shows us how. The future is up to us. Javier Mejia is a Postdoctoral Research Fellow at the Political Science Department at Stanford University. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

If the 20th Century was the American Century, it was also UPS's Century. Joe Allen's The Package King: A Rank and File History of UPS (‎Haymarket Books, 2020), tears down the Brown Wall surrounding one of America's most admired companies—the United Parcel Service (UPS). The company that we see everyday but know so little about. How did a company that began as a bicycle messenger service in Seattle, Washington become a global behemoth? How did it displace General Motors, the very symbol of American capitalism, to become the largest, private sector, unionized employer in the United States? And, at what cost to its workers and surrounding communities? Will it remain the Package King in the 21st Century or will be dethroned by Amazon? Joe Allen worked for nearly a decade at UPS between its Watertown, Massachusetts and Chicago, Illinois Jefferson Street hubs. Allen's work life has largely involved different sections of freight and logistics including for such major employers as A.P.A Transport (Canton, Mass.), Yellow Freight (Maspeth, NY), and UPS. He has been a member of several Teamster local unions and a member of Teamsters for a Democratic Union. Schneur Zalman Newfield is an Assistant Professor of Sociology at Borough of Manhattan Community College, City University of New York, and the author of Degrees of Separation: Identity Formation While Leaving Ultra-Orthodox Judaism (Temple University Press, 2020). Visit him online at ZalmanNewfield.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Alex Imas is the Roger L. and Rachel M. Goetz Professor of Behavioral Science, Economics and Applied AI and a Vasilou Faculty Scholar at the University of Chicago Booth School of Business, where he has taught Negotiations and Behavioral Economics. He is a Faculty Affiliate of the Center for Applied AI and the Human Capital & Economic Opportunity, an NBER Faculty Research Associate, and a CESifo Research Network Fellow. He is also an Associate Editor at the Journal of the European Economic Association and on the editorial board of Psychological Science. Alex studies behavioral economics with a focus on how people understand and mentally represent the choices they are facing. His research explores topics related to how people learn and make choices in settings with risk and uncertainty. He also studies the economics of artificial intelligence and discrimination. Alex’s work utilizes a variety of methods, including controlled laboratory experiments, field experiments, analysis of observational data and theoretical modeling. Alex Imas is the recipient of the 2023 Alfred P. Sloan Research Fellowship, the Review of Financial Studies Rising Scholar Award, the New Investigator Award from the Behavioral Science and Policy Association, the Hillel Einhorn New Investigator Award from the Society of Judgment and Decision Making, the Distinguished CESifo Affiliate Award, and the NSF Graduate Research Fellowship. He is the co-author, with Richard Thaler, of The Winner’s Curse: Behavioral Economics Anomalies, Then and Now (Simon and Schuster, 2025). He is an Associate Editor at the Journal of the European Economic Association and on the editorial board of Psychological Science. Alex was born in Bender, Moldova. Previously, he was the William S. Dietrich II Assistant Professor of Behavioral Economics at Carnegie Mellon University, where he taught Behavioral Economics and Human Judgment and Decision Making. He did his PhD in economics at the University of California, San Diego and earned a BA from Northwestern University. Prior to graduate school, Imas helped found a startup and co-authored several patents as part of its intellectual property strategy. Teaching materials for The Winner’s Curse can be found here. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, where he leads the Master’s Program in International and Development Economics at the University of San Francisco. He is also a nonresident scholar at the UCSD 21st Century China Center and an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations. 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. Guest interviewer Robizon Khubulashvili is an Assistant Professor of Economics at the University of San Francisco. His research is at the intersection of theoretical, behavioral, and experimental microeconomics. A common question in his research is, how can we use a user's revealed preferences to improve the performance of online platforms? Robizon has studied this question in two settings: when monetary incentives are missing (an online gaming platform) and when monetary incentives are present (an online gambling platform). His work suggests that heterogeneity among users is an essential consideration in designing better online platforms; that is, a policy benefiting one type of user might harm the other. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

For much of the late 20th century, Japanese business historians were core contributors to the global field. They published, collaborated, and shaped debates. But something shifted after 2000. Their international visibility - and participation in emerging theoretical conversations - declined. In Japan and the Great Divergence in Business History (Donzé & Umemura, 2025), the authors argue that this shift wasn’t due to a lack of scholarship, but a misalignment of frameworks. While business history globally began integrating concepts from management studies, economic sociology, political economy, and comparative capitalism, Japanese scholarship largely remained anchored in the Chandlerian paradigm: rich, rigorous firm-level histories focused on organizational growth, strategies, and industrial evolution. The consequences of this growing distance are not trivial: Fewer Japanese scholars in international research networks Reduced presence in global journals and conferences Limited cross-pollination with adjacent disciplines Underrepresentation in key theoretical debates reshaping business history Donzé, P.-Y., & Umemura, M. (2025). Japan and the Great Divergence in Business History. Journal of Evolutionary Studies in Business. Link here Hosted by Paula de la Cruz-Fernández, on behalf of the Journal of Evolutionary Studies in Business. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Neoliberalism and Race (Stanford UP, 2025) Lars Cornelissen argues that the category of race constitutes an organizing principle of neoliberal ideology. Using the methods of intellectual history and drawing on insights from critical race studies, Cornelissen explores the various racial constructs that structure neoliberal ideology, some of which are explicit, while others are more coded. Beginning in the interwar period and running through to recent developments, Neoliberalism and Race shows that racial themes have always pervaded neoliberal thinking. The book's key argument is that neoliberal thought is constitutively racialized—its racial motifs cannot be extracted from neoliberalism without rendering it theoretically and politically incoherent. The book aptly explores a wide variety of racial constructs through the structure of neoliberal ideology, deconstructing the conceptualizations in the works of landmark thinkers such as Ludwig von Mises, Friedrich Hayek, Peter Bauer, Thomas Sowell, Charles Murray, and others from the early twentieth century to the present. In this original—perhaps controversial—critique, Cornelissen asserts that neoliberal thinkers were not just the passive recipients of racial discourse, but also directly impacted it. Lars Cornelissen is a historian of neoliberalism. His writings have been published in History of European Ideas, Constellations, and Modern Intellectual History. 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: here Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Peoples & Things host, Lee Vinsel, talks with Colleen Dunlavy, Emeritus Professor of History at University of Wisconsin-Madison, about her recent book, Small, Medium, Large: How Government Made the U.S. Into a Manufacturing Powerhouse. Small, Medium, Large examines the crucial role that the U.S. federal government played in rationalizing and diffusing industrial production standards, which over time greatly increased economies of scale and reduced the cost of both industrial and consumer goods. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics