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

The world is encountering multiple crises - climate, droughts, floods, energy, food, and pandemics, to name a few. Capitalism and Crises: How to Fix Them (Oxford UP, 2024) is about how capitalism can help fix them It has helped to cause because of a misconception about the nature of the system. There has been a failure to understand the key institution business. This book describes why this has happened and what needs to change to address it. At the core of the problem is the key driver of capitalism profit and the way in which those who run the system and provide it resources for it have been rewarded. Currently, profit comes from causing as well as solving problems. Drawing on history, philosophy, psychology, and biology as well economics, law, and finance, Mayer describes what has gone wrong and what needs to change. He sets out the big challenges that capitalism must address and discusses how financial institutions should be at the heart of this, and how the public sector can work with the private on a common purpose of creating shared prosperity. Capitalism and Crises is an inspiring and motivational roadmap. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Before there were Instagram likes, Twitter hashtags, or TikTok trends, there were bloggers who seemed to have the passion and authenticity that traditional media lacked. The Influencer Industry: The Quest for Authenticity on Social Media (Princeton UP, 2023) tells the story of how early digital creators scrambling for work amid the Great Recession gave rise to the multibillion-dollar industry that has fundamentally reshaped culture, the flow of information, and the way we relate to ourselves and each other. Drawing on dozens of in-depth interviews with leading social media influencers, brand executives, marketers, talent managers, trend forecasters, and others, Emily Hund shows how early industry participants focused on creating and monetizing digital personal brands as a means of exerting control over their professional destinies in a time of acute economic uncertainty. Over time, their activities coalesced into an industry whose impact has reached far beyond the dreams of its progenitors--and beyond their control. Hund illustrates how the methods they developed for creating, monetizing, and marketing social media content have permeated our lives and untangles the unforeseen cultural and economic costs. The Influencer Industry reveals how, in an increasingly fractured and profit-driven communications environment, the people we think of as "real" are merely those who have learned to exploit the industry's ever-shifting constructions of authenticity. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Climate change is devastating the planet, and globalisation is hiding it. Laurie Parsons's book Carbon Colonialism: How Rich Countries Export Climate Breakdown (Manchester UP, 2023) opens our eyes.  Around the world, leading economies are announcing significant progress on climate change. World leaders are queuing up to proclaim their commitment to tackling the climate crisis, pointing to data that shows the progress they have made. Yet the atmosphere is still warming at a record rate, with devastating effects on poverty and precarity in the world's most vulnerable communities. Are we being deceived? Outsourcing climate breakdown explores the murky practices of exporting a country's environmental impact. A world in which corporations and countries are allowed to maintain a clean, green image while landfills in the world's poorest countries continue to expand and droughts and floods intensify under the auspices of globalisation, deregulation and economic growth. Taking a wide-ranging, culturally engaged approach to the topic, the book shows how this is notonly a technical problem, but a problem of cultural and political systems and structures - from nationalism to economic logic - deeply embedded in our society. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Immigration is one of the most controversial topics in the United States―and everywhere else. Pundits, politicians, and the public usually depict immigrants either as villains who pose a threat to our economy, culture, and safety, or as victims―needy outsiders whom we must help, at our own cost if necessary. But the data clearly debunk both narratives. From jobs, investment, and innovation to cultural vitality and national security, more immigration has an overwhelmingly positive impact on everything that makes a society successful.In The Truth About Immigration: Why Successful Societies Welcome Newcomers (St. Martin's Press, 2024), Wharton professor Zeke Hernandez draws from nearly twenty years of research to answer all the big questions about immigration. He combines moving personal stories with rigorous research to offer an accessible, apolitical, and evidence-based look at how newcomers affect our local communities and our nation. You’ll learn about the overlooked impact of immigrants on investment and job creation; realize how much we take for granted the novel technologies, products, and businesses newcomers create; get the facts straight about perennial concerns like jobs, crime, and undocumented immigrants; and gain new perspectives on misunderstood issues such as the border, taxes, and assimilation.Hernandez turns fear into hope by proving that immigrants are essential for economically prosperous and socially vibrant nations. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Economies of Gender: Masculinity, "Mail Order Brides," and Women's Labor (Rutgers University Press, 2025) by Dr. Julia Meszaros offers a provocative exploration of the international dating industry, challenging simplistic narratives of human trafficking and scams while shedding light on the economic dynamics of gender. Through twelve years of fieldwork, the book delves into the motivations and experiences of men who seek relationships abroad, driven by dissatisfaction with Western women who, they believe, no longer embody traditional femininity. By examining romantic tourism hotspots such as Ukraine, Colombia, and the Philippines, Economies of Gender reveals how these international settings serve as "intimate frontiers," where men seek to extract femininity capital and bolster their status. It illuminates the often-unseen economic underpinnings of relationships and questions how global gender dynamics shape desires, fantasies, and intimate markets. Through its compelling analysis, the book broadens the conversation on gender, power, and the commodification of intimacy in a globalized world. 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

An eye-opening look at how all American workers, even the highly educated and experienced, are vulnerable to the stigma of unemployment. After receiving a PhD in mathematics from MIT, Larry spent three decades working at prestigious companies in the tech industry. Initially he was not worried when he lost his job as part of a large layoff, but the prolonged unemployment that followed decimated his finances and nearly ended his marriage. Larry's story is not an anomaly. The majority of American workers experience unemployment, and millions get trapped in devastating long-term unemployment, including experienced workers with advanced degrees from top universities. How is it possible for even highly successful careers to suddenly go off the rails? In The Stigma Trap: College-Educated, Experienced, and Long-Term Unemployed (Oxford UP, 2024), Ofer Sharone explains how the stigma of unemployment can render past educational and professional achievements irrelevant, and how it leaves all American workers vulnerable to becoming trapped in unemployment. Drawing on interviews with unemployed workers, job recruiters, and career coaches, Sharone brings to light the subtle ways that stigmatization prevents even the most educated and experienced workers from gaining middle-class jobs. Stigma also means that an American worker risks more than financial calamity from a protracted period of unemployment. One's closest relationships and sense of self are also on the line. Eye-opening and clearly written, The Stigma Trap is essential reading for anyone who has experienced unemployment, has a family member or friend who is unemployed, or who wants to understand the forces that underlie the anxiety-filled lives of contemporary American workers. The book offers a unique approach to supporting unemployed jobseekers. At a broader level it exposes the precarious condition of American workers and sparks a conversation about much-needed policies to assure that we are not all one layoff away from being trapped by stigma. Stephen Pimpare is a Senior Fellow at the Carsey School of Public Policy at the University of New Hampshire. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Seven Crashes: The Economic Crises That Shaped Globalization (Yale UP, 2023), distinguished economic historian Harold James offers a fresh perspective on the past two centuries of globalization and the pivotal moments that shaped it. James analyzes seven major economic crises that occurred over this period, including the late 1840s, the simultaneous stock market shocks of 1873, the First World War years, the Great Depression era, the 1970s, the Global Financial Crisis of 2007-2008, and most recently the Covid-19 crisis. Through his insightful analysis, he illustrates how some of these crises contributed to increased cross-border integration of labor, goods, and capital markets, while others resulted in significant deglobalization. James classifies the crises into two categories: those caused by shortages and those driven by demand. He explains how shortages have led to greater globalization as markets expanded and producers innovated to increase supply, as evidenced by events such as the First World War and the oil shocks of the 1970s. In contrast, demand-driven crises, such as those that caused the Great Depression and the Global Financial Crisis of 2007-2008, have typically led to international trade contraction and decreased globalization, often accompanied by widespread skepticism of governments. To support his findings, James examines the writings of key observers who shaped our understanding of each crisis, including Karl Marx in 1848, Stanley Jevons, Léon Walras, and Carl Menger in the 1870s, German Treasury Secretary Karl Helfferich in the First World War, John Maynard Keynes in the Great Depression, Milton Friedman and Friedrich Hayek in the 1970s, Ben Bernanke in 2008, and Larry Summers and Raj Chetty in 2020. Overall, James' work provides an insightful and thought-provoking analysis of the relationship between economic crises and globalization over the past two centuries, and sheds light on the potential trajectory of future economic developments. Javier Mejia is an economist at Stanford University who specializes in the intersection of social networks and economic history. His research interests also include entrepreneurship and political economy, with a particular focus on Latin America and the Middle East. He holds a Ph.D. in Economics from Los Andes University. Mejia has previously been a Postdoctoral Associate and Lecturer at New York University-Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is also a frequent contributor to various news outlets, currently serving as an op-ed columnist for Forbes Magazine. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Lithium, a crucial input in the batteries powering electric vehicles, has the potential to save the world from climate change. But even green solutions come at a cost. Mining lithium is environmentally destructive. We therefore confront a dilemma: Is it possible to save the world by harming it in the process? Having spent over a decade researching mining and oil sectors in Latin America, Thea Riofrancos is a leading voice on resource extraction. In this episode, we discuss her 2025 book Extraction: The Frontiers of Green Capitalism, in which she draws on groundbreaking fieldwork on the global race for lithium. Taking readers from the breathtaking salt flats of Chile’s Atacama Desert to Nevada’s glorious Silver Peak Range to the rolling hills of the Barroso Region of Portugal, the book reveals the social and environmental costs of “critical minerals.” She takes stock of new policy paradigms in the Global South, where governments seek to leverage mineral assets to jumpstart green development. Zooming out from lithium, we also discuss the evolving geopolitics and geoeconomics of energy transition, critical minerals, and green technology supply chains. — Thea Riofrancos is an Associate Professor of Political Science at Providence College, a Strategic Co-Director of the Climate and Community Institute, and a fellow at the Transnational Institute. Her research focuses on resource extraction, climate change, the energy transition, the global lithium sector, green technologies, social movements, and the Latin American left. She explored these themes in her book, Resource Radicals: From Petro-Nationalism to Post-Extractivism in Ecuador (Duke University Press, 2020), peer-reviewed articles in Cultural Studies, World Politics, and Global Environmental Politics, and her coauthored book, A Planet to Win: Why We Need a Green New Deal (Verso Books, 2019). Her essays have appeared in outlets including The New York Times, Financial Times, The Washington Post, Foreign Policy, The Guardian, and more. Thea’s latest book, which we discuss on this episode, is Extraction: The Frontiers of Green Capitalism (W.W. Norton 2025). Extraction: The Frontiers of Green Capitalism (W.W. Norton 2025) The Security–Sustainability Nexus: Lithium Onshoring in the Global North in Global Environmental Politics 2022 Resource Radicals: From Petro-Nationalism to Post-Extractivism in Ecuador (Duke University Press, 2020) A Planet to Win: Why We Need a Green New Deal (Verso Books, 2019) Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Stealing the Future is the first book to tell the true and full story of Sam Bankman-Fried and his historic crimes. It chronicles the $11 billion FTX fraud with the detail and nuance of a financial fraud expert and cryptocurrency insider – but unlike any book before it, it also traces the ideas that enabled the crime. “Effective Altruism” and related tendencies, such as longtermism and transhumanism, remain dangerously influential in today’s Silicon Valley. Despite Bankman-Fried’s pose as a cuddly liberal philanthropist, they are now center stage in the global rise of the far right, and also lie at the heart of OpenAI, the tech darling that took FTX’s place as the face of the future. In this interview, Morris explains how some of the key thought processes that drive today's techno-billionaires and how we can spot the next fraudsters in our midst.  Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

What's the secret to scoring a reservation at a hot new restaurant? When should you enter a lottery to increase your odds of winning? Why did your neighbor's kid get into a nearby preschool while yours didn't? Who gets priority for a life-saving organ donation? These outcomes are not a matter of luck. Instead, they depend on how we navigate hidden markets that arise to decide who gets what when many of us want something and there isn't enough to go around. Every day we play in these markets, yet few of us fully understand how they work. In familiar markets, what we get depends on how much we're willing to pay. Hidden markets do not rely on prices: you can't buy your way in to a better position. Instead, what you receive hinges on the rules by which the market operates, and the choices you make in them. Judd Kessler has spent a career studying and designing these very markets. Now, he reveals the secrets of how they work, and how to maneuver in them. Whether you want to snag a coveted ticket, secure a spot in an oversubscribed college course, get better matches in the dating and job markets, do your fair share of the household chores (but no more), or more efficiently allocate your time and attention, this must-read guide will show you how to get Lucky by Design. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

No other phenomenon has shaped human history as decisively as capitalism. It structures how we live and work, how we think about ourselves and others, how we organize our politics. Sven Beckert, author of the Bancroft Prize–winning Empire of Cotton, places the story of capitalism within the largest conceivable geographical and historical framework, tracing its history during the past millennium and across the world. An epic achievement, his book takes us into merchant businesses in Aden and car factories in Turin, onto the terrifyingly violent sugar plantations in Barbados, and within the world of women workers in textile factories in today’s Cambodia. Capitalism, argues Beckert, was born global. Emerging from trading communities across Asia, Africa, and Europe, capitalism’s radical recasting of economic life rooted itself only gradually. But then it burst onto the world scene, as a powerful alliance between European states and merchants propelled them, and their economic logic, across the oceans. This, Beckert shows, was modern capitalism’s big bang, and one of its epicenters was the slave labor camps of the Caribbean. This system, with its hierarchies that haunt us still, provided the liftoff for the radical transformations of the Industrial Revolution. Fueled by vast productivity increases along with coal and oil, capitalism pulled down old ways of life to crown itself the defining force of the modern world. This epic drama, shaped by state-backed institutions and imperial expansion, corresponded at no point to an idealized dream of free markets. Drawing on archives on six continents, Capitalism locates important modes of agency, resistance, innovation, and ruthless coercion everywhere in the world, opening the aperture from heads of state to rural cultivators. Beckert shows that despite the dependence on expansion, there always have been, and are still, areas of human life that the capitalist revolution has yet to reach. By chronicling capitalism’s global history, Beckert exposes the reality of the system that now seems simply “natural.” It is said that people can more easily imagine the end of the world than the end of capitalism. If there is one ultimate lesson in this extraordinary book, it’s how to leave that behind. Though cloaked in a false timelessness and universality, capitalism is, in reality, a recent human invention. Sven Beckert doesn’t merely tote up capitalism’s debits and credits. He shows us how to look through and beyond it to imagine a different and larger world. Soumyadeep Guha is a fourth-year PhD student in the History Department at Binghamton University, New York. He is interested in historical research focusing on themes such as Agrarian/Environmental History, History of Science and Tech, Global History, and their intersections. His prospective dissertation questions are on the pre-history of the ‘Green Revolution’ in Eastern India. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

What do the economics of decolonisation mean for the future of Aotearoa? This question drives the work of Dr. Matthew Scobie and Dr. Anna Sturman as they explore the complex relationship between tangata whenua and capitalism in The Economic Possibilities of Decolonisation (Bridget Williams Books, 2024). By weaving together historical insights and contemporary analysis, this book reveals the enduring influence of Māori economies and illuminates how these perspectives could radically transform Aotearoa’s political economy for the better. 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 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