New Books in Economic and Business History

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

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

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

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

Journalist Katherine Blunt, who writes about renewable energy and utilities for the Wall Street Journal, talks about her new book, California Burning: The Fall of Pacific Gas and Electric—and What It Means for America’s Power Grid with Peoples & Things host, Lee Vinsel. The book tells the fascinating story of how declining performance at an electrical utility eventually led to wildfires and staggering loss of human life. Blunt and Vinsel also talk about what this story means for the future of electricity utilities in the face of global climate change. Learn more about your ad choices. Visit megaphone.fm/adchoices

On October 30, 1975, the New York Daily News printed the most famous headline in its history: “Ford to City: Drop Dead.” The previous day, President Gerald Ford had delivered a speech at the National Press Club in Washington on the looming bankruptcy of New York City. In the speech, Ford publicly denied the near-bankrupt New York City a federal bailout. The next morning, the streets of Manhattan were littered with the incendiary headline.  It has been fifty years since the publication of the headline, which presents an opportunity to reconsider this historical period. In this special edition episode, host Ryan Purcell talks with Benjamin Holtzman, Assistant Professor of History at Lehman College (CUNY), about the soundtracks behind New York’s fiscal crisis. Holtzman is the author of The Long Crisis: New York and the Path to Neoliberalism (Oxford University Press, 2023), a volume that returns to this turbulent period to explore the origins and implications of the diminished faith in government as capable of solving public problems. In the wake of the fiscal crisis of 1975, Holtzman argues, local people and officials rebuilt the city from the ground up, creating a system that would both exacerbate old racial and economic inequalities and produce new ones that continue to shape metropolitan areas today. Contact Soundscapes NYC Here Support the show Learn more about your ad choices. Visit megaphone.fm/adchoices

Historian Hanna Rose Shell, a professor at University of Colorado, Boulder, talks about her book Shoddy: From Devil’s Dust to the Renaissance of Rags with Peoples & Things host Lee Vinsel. Along the way, Shell raises a number of important and interesting things, including the long history of reuse and recycling and how forms of technology and work become tied to social status. With shoddy, it was the anxieties of low class, low social status work and poverty. Shell also discusses how individual technologies become mirrors for the worries, fears, hatreds, and other feelings of society – how when we look into the history of any technology we often see ourselves reflected back. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we are joined by Dr. Lindsay Krasnoff, who is an historian, specializing in global sport, communications and diplomacy. She is also the Director of FranceandUS, and she lectures on sports diplomacy at New York University Tisch Institute of Global Sport. We met to talk about her most recent book: Basketball Empire: France and the Making of a Global NBA and WNBA (Bloomsbury, 2023). In our conversation, we discussed the rise of basketball in France, the differences between French and American basketball, and the way that French basketball stars such as Boris Diaw exemplify the new global “empire” of basketball that incorporates Africa, France and its overseas departments, and the USA. Krasnoff divides Basketball Empire into three parts that together investigate how French basketball developed from a low point in the middle of the 20th century to a global powerhouse contributing players to the NBA and the WNBA almost every year. Krasnoff argues that French basketball’s success hinges on their ability make use of their connections both with the United States and with their former empire. In examining the growth of basketball in France, Krasnoff traces a sporting genealogy that links together players, coaches, and even commentators from around the globe who compete together in France and help produce a distinctive French style of basketball that nevertheless has appeal outside of the hexagon. In Basketball Empire, Krasnoff’s first section takes off from her previous work on French association football, which looked at the development of Les Bleus. In the 1950s and 1960s, French basketball too was in crisis. In response, the French government, the Fédération française de basket-ball (FFBB), and even some sporting associations sought out new ways to improve the quality of play in France. Paris University Club brought in Americans who had played basketball in the NCAA but were now living in France to teach American approaches to the game. Individual players, including one of the earliest female French basketball stars Elisabeth Riffiod, watched film of American professionals like Bill Russell. The government redeveloped a national training centre: the National Institute of Sport, Expertise, and Performance (INSEP.) The French League professionalized in 1987. Since the 1990s, French basketball has enjoyed a rising number of successful EuroBasket and Olympic campaigns, including a men’s silver and a women’s bronze in 2020/21. Basketball Empire’s second section uses micro-biographies to explore the ways that contemporary French players developed their skills, how they made their moves into the NCAA, the NBA or the WNBA, and the challenges and opportunities that these moves provided them as players. In this section in particular, Krasnoff’s ability land and conduct interviews shines. She shows how diverse players, including Boris Diaw, Sandrine Gruda, Nicolas Batum, Marine Johannès, Diandra Tchatchouang, Evan Fournier, Mickaël Gelabale, and Rudy Gobert have become not only basketball stars but also informal diplomats that help build connections and translate between Africa, France and the United States. In the final section, Krasnoff considers why the French have been so successful at producing high quality men’s and women’s basketball players. She credits la formation à la française: the specific French training system that includes a national sports training center (the INSEP) as well as local and regional basketball academies (pôles espoirs). The future looks bright for French basketball and in our interview Krasnoff predicts French and US success in the upcoming Paris 2024 Olympiad. Keith Rathbone is a Senior Lecturer at Macquarie University in Sydney, Australia. He researches twentieth-century French social and cultural history. Learn more about your ad choices. Visit megaphone.fm/adchoices

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

From the earliest days of its founding, the United States set its sights on Native territory. Amid better-known “Indian wars,” the federal government quietly built an empire by treaty, offering payments to Native peoples for their land. Routinely inadequate, these payments were nonetheless pivotal because federal officials chose not to deliver them as a lump sum. Instead, the government kept the bulk of payments owed to Native nations under its own control as a trustee, and made access to future installments contingent on Native compliance. In Vested Interests: Trusteeship and Native Dispossession in the United States (Princeton UP, 2025), Dr. Emilie Connolly describes how a system of “fiduciary colonialism” seized a continent from its original inhabitants—and, ironically, furnished Native peoples with financial resources that sustained their nations.Connolly documents two centuries of dispossession in the guise of fiduciary benevolence. Acting as both dispossessor and trustee, the federal government invested Native wealth in state bonds that financed banks, canals, and other infrastructural projects that enabled the country to expand further westward. Meanwhile, Native peoples protected the money they did receive for future generations, investing it in their own institutions and mounting legal challenges to hold their trustees accountable. Still, federal trusteeship placed tight constraints on Native economies with the aim of containing Native power, forcing nations to endure through sheer resilience and ingenuity. By chronicling the long history of Native land dispossession through financial paternalism, Vested Interests reveals the unequal dividends of colonialism in the United States. 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

Taco (Bloomsbury, 2025) is a deep dive into the most iconic Mexican food from the perspective of a Mexico City native. In a narrative that moves from Mexico to the United States and back, Dr. Ignacio M. Sánchez Prado discusses the definition of the taco, the question of the tortilla and the taco shell, and the existence of the taco as a modern social touchstone that has been shaped by history and geography.  Challenging the idea of centrality and authenticity, in this latest addition to the Object Lessons series, Dr. Sánchez Prado shows instead that the taco is a contemporary, transcultural food that has always been subject to transformation. 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

Palo Alto is nice. The weather is temperate, the people are educated, rich, healthy, enterprising. Remnants of a hippie counterculture have synthesized with high technology and big finance to produce the spiritually and materially ambitious heart of Silicon Valley, whose products are changing how we do everything from driving around to eating food. It is also a haunted toxic waste dump built on stolen Indian burial grounds, and an integral part of the capitalist world system. In Palo Alto: A History of California, Capitalism, and the World (Little, Brown, 2023), the first comprehensive, global history of Silicon Valley, Malcolm Harris examines how and why Northern California evolved in the particular, consequential way it did, tracing the ideologies, technologies, and policies that have been engineered there over the course of 150 years of Anglo settler colonialism, from IQ tests to the "tragedy of the commons," racial genetics, and "broken windows" theory. The Internet and computers, too. It's a story about how a small American suburb became a powerful engine for economic growth and war, and how it came to lead the world into a surprisingly disastrous 21st century. Palo Alto is an urgent and visionary history of the way we live now, one that ends with a clear-eyed, radical proposition for how we might begin to change course. Malcolm Harris is a freelance writer and the author of Kids These Days: The Making of Millennials and Shit is Fucked Up and Bullshit: History Since the End of History. He was born in Santa Cruz, CA and graduated from the University of Maryland. Twitter. Brian Hamilton is chair of the Department of History and Social Science at Deerfield Academy. Twitter. Website. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ines Prodöhl’s Globalizing the Soybean: Fat, Feed, and Sometimes Food, c. 1900-1950 (Routledge, 2023) is a history of how, why, and where the soybean became a critical ingredient in industry and agriculture in the first half of the twentieth century. Focusing on Japanese-dominated Manchuria, Germany, and the United States, Prodöhl shows that the soybean was a serendipitous solution to numerous and varied crises from the beginning of the century into the post-WWII decades. This story of imperialism, globalization, and technology begins in northeast China, the world’s soy cultivation center until the 1940s. It takes us to Germany, the number one importer of soybeans in the interwar period, and illuminates the various ways in which soy was integrated into the economy especially after the end of WWI as both an invaluable oilseed for industry and a source of protein-rich fodder for agriculture. Finally, Prodöhl explores how the United States first adopted the soybean mostly as a solution to overtaxed soils. Mixing economic, ecological, political, and technological/scientific history with a keen sense of the materiality of soy as a global product, Globalizing the Soybean is an accessible and enlightening book that will appeal to multiple audiences. This book is available open access here. This episode was recorded in person in the studios of Media City Bergen with technical assistance from Frode Ims. Nathan Hopson is an associate professor of Japanese language and history in the University of Bergen's Department of Foreign Languages. Learn more about your ad choices. Visit megaphone.fm/adchoices

At the end of the 1930s, the West was in peril. A cultural and economic backwater, the Great Depression had all-but wiped out the extractive industries which had fueled the region's economy for decades. What catapulted the West into the global twentieth century was mobilization for World War II.  In The Mobilized American West: 1940-2000 (U Nebraska Press, 2023), University of Washington emeritus professor John Findlay argues that once began, that mobilization never really ended, and continues to define the West to this day. As the latest entry in Nebraska's lauded History of the American West series, Findlay uses the latest scholarship to offer a synthetic look at the recent history of the West, a period that often gets short shrift in Western historiography. Findlay also takes new approaches, looking at the West through the lenses of family history and political culture, to make the case that the region is still distinct and worthy of study as a unique place. Findlay's West is a place of violence, democracy, competing interests, and of beauty, and is a grand confirmation that there are still rich veins to be mined in regional Western histories. Learn more about your ad choices. Visit megaphone.fm/adchoices

Based on applied economics and from the perspective of an innovator seeking to develop a new digital business, Digital Innovation Strategy (Cambridge UP, 2023) is aimed at audiences interested in innovation strategy and competition in digital industries. Step-by-step, the book guides innovators through a dynamic market analysis and business model design, leading to an assessment of the future evolution of the market and the broader innovation ecosystem, and what the innovator can do to position the innovation for continued success. Each chapter defines and provides references for key concepts. Real-world case studies further facilitate forming a comprehensive view on how to resolve strategic challenges of digital innovation. The topics covered are essential for managers, consultants, entrepreneurs, technologists, and analysts. Learn more about your ad choices. Visit megaphone.fm/adchoices

In Resource Nationalism in Indonesia: Booms, Big Business, and the State (Cornell UP, 2023), Eve Warburton traces nationalist policy trajectories in Indonesia back to the preferences of big local business interests. Commodity booms often prompt more nationalist policy styles in resource-rich countries. Usually, this nationalist push weakens once a boom is over. But in Indonesia, a major global exporter of coal, palm oil, nickel, and other minerals, the intensity of nationalist policy interventions increased after the early twenty-first century commodity boom came to an end. Equally puzzling, the state applied nationalist policies unevenly across the land and resource sectors. Resource Nationalism in Indonesia explains these trends by examining the economic and political benefits that accrue to domestic business actors when commodity prices soar. Warburton shows how the centrality of patronage to Indonesia's democratic political economy, and the growing importance of mining and palm oil as a drivers of export earnings, enhanced both the instrumental and structural power of major domestic companies, giving them new influence over the direction of nationalist change. Eve Warburton is Director of the ANU Indonesia Institute and a Research Fellow in the Coral Bell School of Asia Pacific Affairs at the Australian National University. Professor Michele Ford is the Director of the Sydney Southeast Asia Centre, a university-wide multidisciplinary center at the University of Sydney, Australia. Learn more about your ad choices. Visit megaphone.fm/adchoices

In The Tame and the Wild: People and Animals after 1492 (Harvard University Press, 2024), Dr. Marcy Norton offers a dramatic new interpretation of the encounter between Europe and the Americas that reveals the crucial role of animals in the shaping of the modern world. When the men and women of the island of Guanahani first made contact with Christopher Columbus and his crew on October 12, 1492, the cultural differences between the two groups were vaster than the oceans that had separated them. There is perhaps no better demonstration than the divide in their respective ways of relating to animals. In this book, Dr. Norton tells a new history of the colonisation of the Americas, one that places wildlife and livestock at the centre of the story. She reveals that the encounters between European and Native American beliefs about animal life transformed societies on both sides of the Atlantic. Europeans’ strategies and motives for conquest were inseparable from the horses that carried them in military campaigns and the dogs they deployed to terrorise Native peoples. Even more crucial were the sheep, cattle, pigs, and chickens whose flesh became food and whose skins became valuable commodities. Yet as central as the domestication of animals was to European plans in the Americas, Native peoples’ own practices around animals proved just as crucial in shaping the world after 1492. Cultures throughout the Caribbean, Amazonia, and Mexico were deeply invested in familiarisation: the practice of capturing wild animals—not only parrots and monkeys but even tapir, deer, and manatee—and turning some of them into “companion species.” These taming practices not only influenced the way Indigenous people responded to human and nonhuman intruders but also transformed European culture itself, paving the way for both zoological science and the modern pet. This interview was conducted by Dr. Miranda Melcher whose forthcoming 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

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

The Great Migration saw more than six million African Americans leave the US South between 1910 and 1970. Though the experiences of migrant laborers are well-known, countless African Americans also left the South to pursue entrepreneurial opportunities and viewed business as key to Black liberation. Detroit's status as a mecca for Black entrepreneurship illuminates this overlooked aspect of the Great Migration story. In Freedom Enterprise, Kendra D. Boyd uses "migrant entrepreneurship" as a lens through which to understand the entwined histories of Black-owned business, racial capitalism, and urban space. Freedom Enterprise follows Black Southerners' journeys to Detroit during the initial wave of migration in the 1910s and 1920s, through their efforts to build a prosperous Black business community in the 1930s and 1940s, to the destruction of that community through urban renewal projects and freeway construction in the 1950s and 1960s. Combining business and social history methods to analyze an eclectic archive, Boyd chronicles migrant entrepreneurs' experiences, highlighting tales of racial and economic violence, Black women's business organizing, illegal business, communist entrepreneurs, and cooperative economics. Boyd uses the framework of racial capitalism to examine migrant entrepreneurs' experiences in twentieth-century America. In the Jim Crow South, African Americans worried about white mobs taking away their property, wealth, and lives. Though they sought refuge in Detroit, migrant entrepreneurs subsequently faced the loss of their livelihoods and the businesses they had spent decades building to the bulldozers of state-sponsored urban redevelopment initiatives. Southern migrants' "freedom enterprise"--their undertaking of attaining freedom through business--was curtailed by the reality of operating within the confines of US racial capitalism. In tracing Black entrepreneurs across the Great Migration, Freedom Enterprise provides important insights into African Americans' activism for racial and economic justice and continued racialized wealth disparities. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Earth Transformed. An Untold History (Knopf, 2023) is a captivating and informative book that reveals how climate change has been a driving force behind the development and decline of civilizations across the centuries. The author, Peter Frankopan, takes readers on a journey through history, showcasing how natural phenomena such as volcanic eruptions, El Niño, and solar flare activity have shaped the course of human events. Frankopan's extensive research, coupled with his accessible writing style, makes for an engaging read that reframes our understanding of the world and our place in it. One of the strengths of The Earth Transformed is the way in which Frankopan connects seemingly disparate events to highlight the far-reaching impact of climate change. For example, he explains how the Vikings emerged as a result of catastrophic crop failure, and how the collapse of cotton prices due to unusual climate patterns led to regime change in eleventh-century Baghdad. Through such connections, Frankopan demonstrates how past empires that failed to act sustainably were met with catastrophe, providing valuable lessons for our current environmental crisis. Overall, The Earth Transformed is a timely and important book that sheds light on the enduring relationship between humans and the natural world. It challenges readers to reckon with our species' impact on the environment and to consider how we can act sustainably to prevent further harm. Frankopan's interdisciplinary approach, combining historical research with scientific insights, makes for a compelling and thought-provoking read that will leave readers with a new perspective on the world around us. 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