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

David McNally's Slavery and Capitalism: A New Marxist History (U California Press, 2025)presents the first systematic Marxist account of the capitalist character of Atlantic slavery. McNally argues that enslaved labour within the plantation system constituted capitalist commodity production, and crucially, reframes the resistance of enslaved people as profound labour struggles. He posits a "social conception of freedom", contrasting it with the liberal individualist view, asserting that for enslaved people, freedom was communal and collective, as no individual could break the structures of slavery alone. The book revives a "forgotten critical Marxist tradition" that consistently upheld the capitalist nature of New World slavery, drawing on three crucial thinkers: C.L.R. James, who argued that the collective labour of enslaved sugar cane workers on Haitian plantations was "closer to a modern proletariat than any group of workers in the world at the time". W.E.B. Du Bois, who described the overthrow of slavery in the U.S. Civil War as a "general strike of the slaves," recognizing their withdrawal of labour as commodity producers. Sylvia Wynter, who referred to this "new world enslaved class" as the "plantation proletariat," seeing them as "the most thoroughly modern social class". At the heart of McNally's analysis is the concept of the "chattel proletariat," which he describes as the "pivot point" of his analysis. This concept challenges the idea that the proletariat must mean "free workers". He demonstrates that enslaved people were economically bonded to capital, much like "free" labourers are bonded by economic necessity, with both forms of labour exploited for surplus value. Contrary to common belief, enslaved workers on Atlantic plantations "regularly used the strike weapon," engaging in collective acts like mass strikes (e.g., Toussaint Louverture's call, Bussa's rebellion, the 1831 Jamaica strikes, and Du Bois's "general strike"). These actions lead McNally to assert they were "among the foremost innovators in mass strikes" and should be recognized as part of the proletariat, necessitating a rewriting of modern labour history. McNally incorporates the insights of Marxist feminists and social reproduction theorists, emphasizing the "life-making" aspect of the chattel proletariat. He highlights that enslaved Black women not only produced commodities but also performed the essential, gendered labour of reproducing human existence. He also stresses the "necessity of theory" in historical analysis, arguing that empirical approaches alone cannot grasp "collective social processes" without a broader theoretical framework of commodity and social relationships. This book represents a significant confrontation with racial capitalism, weaving together McNally's long-standing interests in political economy and anti-racist commitments. Learn more about your ad choices. Visit megaphone.fm/adchoices

Maren A. Ehlers’s Give and Take: Poverty and the Status Order in Early Modern Japan (Harvard University Asia Center, 2018) examines the ways in which ordinary subjects—including many so-called outcastes and other marginalized groups—participated in the administration and regulation of society in Tokugawa Japan. Within this context, the book focuses on self-governing occupation-based and other status groups and explore their roles making Tokugawa Japan tick. The title, Give and Take, is part of Ehlers’s argument about the ways in which their relationship to government was one of reciprocity between ostensibly benevolent rulers and dutybound status groups. Within this, Ehlers evinces a special interest in marginalized groups and in poverty, especially “beggar bosses” and blind guilds. Through a detailed examination of an extraordinary collection of primary sources from the castle town of Ōno (Fukui prefecture), Ehlers uses the case study of approaches to the problems of poverty to enrich our understanding of the complex dynamics of interconnectivity and reciprocity that characterized Japan under Tokugawa rule. Learn more about your ad choices. Visit megaphone.fm/adchoices

Peoples & Things host, Lee Vinsel, talks with Tiia Sahrakorpi, Visiting Professor at Weber State University, about her interesting book project, Our Land: An Oral History of Energy, which was funded by the Research Council of Finland. The project, which was rooted in oral histories in three locations in Finland, takes a use-based perspective and examines how ordinary Finnish people adopted and used electricity. Learn more about your ad choices. Visit megaphone.fm/adchoices

Why do Americans eat so much beef? In Red Meat Republic: A Hoof-to-Table History of How Beef Changed America (Princeton University Press, 2019), the historian Joshua Specht provides a history that shows how our diets and consumer choices remain rooted in nineteenth century enterprises. A century and half ago, he writes, the colonialism and appropriation of indigenous lands enabled the expansion of western ranch outfits. These corporate ranchers controlled loose commodity chains, until powerful corporate meat packers in Chicago seized the economic order through the tools of modern capitalism (scientific management, standardization, labor suppression). These capitalists expanded the supply chains to far-flung consumers in New York and around the globe. But as meat became a staple of the American diet, and measure of progress, consumers cared more about the price and taste than the violence to people, animals, and environment behind the scenes. “America made modern beef” Specht writes, “at the same time that beef made America modern.” Ryan Driskell Tate is a Ph.D. candidate in American history at Rutgers University. He is completing a book on fossil-fuels and energy development in the American West. He teaches courses on modern US history, environmental history, and histories of labor and capitalism. @rydriskelltate Learn more about your ad choices. Visit megaphone.fm/adchoices

A celebrated revolution brought freedom to a group of enslaved people in northern India. Or did it? Millions of people around the world today are enslaved; nearly eight million of them live in India, more than anywhere else. Freedomville: The Story of a 21st-Century Slave Revolt (Columbia Global Reports, 2021) by Dr. Laura Murphy is the story of a small group of enslaved villagers in the Indian state of Uttar Pradesh, who founded their own town of Azad Nagar—Freedomville—after staging a rebellion against their slaveholders. International organizations championed this as a nonviolent “silent revolution” that inspired other villagers to fight for their own freedom. But Professor Murphy, a leading scholar of contemporary global slavery, who spent years researching and teaching about Freedomville, found that whispers and deflections suggested that there was something troubling about Azad Nagar’s success. Professor Murphy embarks on a Rashomon-like retelling—a complex, constantly changing narrative of a murder that captures better than any sanitized account just why it is that slavery continues to exist in the twenty-first century. Freedomville’s enormous struggle to gain and maintain liberty shows why it is unrealistic to expect radical change without violent protest—and how a global construction boom is deepening and broadening the alienation of impoverished people around the 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

Many local policymakers make decisions based on a deep-seated belief: what’s good for the rich is good for cities. Convinced that local finances depend on attracting wealthy firms and residents, municipal governments lavish public subsidies on their behalf. Whatever form this strategy takes—tax-exempt apartments, corporate incentives, debt-financed mega projects—its rationale remains consistent and assumed to be true. But this wasn’t always the case. Between the 1870s and the 1970s, a wide range of activists, citizens, and intellectuals in New York City connected local fiscal crises to the greed and waste of the rich. These figures saw other routes to development, possibilities rooted in alternate ideas about what was fiscally viable. In The Menace of Prosperity: New York City and the Struggle for Economic Development, 1865–1981 (U of Chicago Press, 2025), Daniel Wortel-London argues that urban economics and politics are shaped by what he terms the “fiscal imagination” of policymakers, activists, advocates, and other figures. His survey of New York City during a period of explosive growth shows how residents went beyond the limits of redistributive liberalism to imagine how their communities could become economically viable without the largesse of the wealthy. Their strategies—which included cooperatives, public housing, land value taxation, public utilities, and more—centered the needs and capabilities of ordinary residents as the basis for local economies that were both prosperous and just. Reed Schwartz (@reedschwartzsf) holds an MPhil in intellectual history from the University of Cambridge. Learn more about your ad choices. Visit megaphone.fm/adchoices

Russia's invasion of Ukraine in 2022 brought a tragic close to a thirty-year period of history that began with the collapse of the Soviet Union and the reopening of Russia to the West after six decades of Soviet isolation. The opening lasted for three tumultuous decades and ended with a new closing, driven by the Ukrainian war, the imposition of Western sanctions, and the Russian responses to them. In Perfect Storm: Russia's Failed Economic Opening, the Hurricane of War and Sanctions, and the Uncertain Future (Oxford University Press, 2025), Russia analyst Thane Gustafson reinterprets the story of Russia's failed opening to the West, focusing on its economic, technological, and social aspects, and the role they played in its ultimate failure. These parallel events are essential for understanding what happened and what went wrong. Yet they have received much less attention than the military and geopolitical aspects of the current conflict. Gustafson tells the story of the West's entry into Russia, the arrival of Russians into the West, and the conflicting emotions and responses these aroused on both sides, contributing to the ultimate breakdown of relations and the unprecedented hurricane of Western sanctions. The book concludes with an examination of possible futures under a new generation of leaders. A measured and nuanced account of the evolution of Russia's economic relations with the world, Perfect Storm illuminates the longer history of Russia's opening to the West, from its achievements and disappointments to the complexity of the post-invasion sanctions regime and Russia's responses to them. Thane Gustafson is Professor of Government at Georgetown University. He is the author of many books, including Klimat (2021), The Bridge (2020), and Wheel of Fortune (2012). Caleb Zakarin is editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices

What does it mean to supervise a bank? And why does it matter who holds that power? In this episode, Sean H. Vanatta joins us to explore the hidden machinery behind American finance, as told in his new book Private Finance, Public Power: A History of Bank Supervision in America (Princeton UP, 2025), co-authored with Peter Conti-Brown. Spanning nearly 150 years, the book traces the evolution of bank supervision from a patchwork of state-level oversight to a complex, layered system involving federal agencies, private actors, and political discretion. Sean takes us from the wildcat banks of the 1830s to the rise of the Federal Reserve, through crises, reforms, and the quiet work of bank examiners who shaped the rules behind the scenes. We discuss why supervision differs from regulation, how discretion has become central to managing financial risk, and what the collapse of Silicon Valley Bank in 2023 reveals about the enduring tension between private profit and public responsibility. Along the way, Sean shares stories of forgotten institutions, colourful characters, and the surprising role of gender and civil rights in shaping financial oversight. Whether you're a policymaker, historian, or simply curious about how money and power interact, this conversation offers a fresh perspective on the institutions that quietly govern our financial lives. Tune in for a rich and engaging journey through the history and current state of banking politics.The interview on "Plastic Capitalism" is available here Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest today is Anders M. Greene-Crow. Anders teaches at the Woods College of Advancing Studies and is a former Professor of English at Boston College. More recently, Anders has been preparing for the New York state bar exam, while also co-hosting the podcast “Say Podcast and Die!,” about R.L. Stine’s book series, Goosebumps. Today, we are discussing Anders’s first book, Austerity Measures: The Poetics of Food Insecurity in Early Modern English Literature (U of Pennsylvania Press, 2025). Austerity Measures is a brilliant intervention in how we read early modern poetry. Crow looks at a range of lyric poets and writers in the sixteenth and seventeenth centuries, including Thomas Tusser, George Herbert, Robert Herrick, Anne Bradstreet, and Thomas Tryon. Austerity Measures argues that early modern poets used literary form to model solutions addressed to pressing concerns about food insecurity and food ethics. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of the Economic and Business History channel, I spoke with Dr. Victoria Basualdo and Dr. Marcelo Bucheli about their new edited book. Big Business and Dictatorships in Latin America: A Transnational History of Profits and Repression (Palgrave Macmillan, 2020) is an edited volume that studies the relationship between big business and the Latin American dictatorial regimes during the Cold War. The first section provides a general background about the contemporary history of business corporations and dictatorships in the twentieth century at the international level. The second section comprises chapters that analyze five national cases (Argentina, Brazil, Chile, Uruguay, and Peru), as well as a comparative analysis of the banking sector in the Southern Cone (Argentina, Brazil, Chile, and Uruguay). The third section presents six case studies of large companies in Argentina, Brazil, Chile, Colombia, and Central America. This book is crucial reading because it provides the first comprehensive analysis of a key yet understudied topic in Cold War history in Latin America. Victoria Basualdo is Researcher at the Argentine National Scientific Council (CONICET) and at the Facultad Latinoamericana de Ciencias Sociales (FLACSO), and Professor in the Political Economy Master's Degree Program at FLACSO, Argentina. She specializes in contemporary economic and labor history, with special focus on structural changes and the transformations of trade-union organizations in Argentina and Latin America. Hartmut Berghoff is Director of the Institute of Economic and Social History at the University of Göttingen, Germany. He was the Director of the German Historical Institute in Washington DC (2008-2015) and held various visiting positions at the Center of Advanced Study, Harvard Business School, the Maison des Sciences de l’Homme, and the Henley Business School. He has worked on the history of consumption, business history, immigration history and the history of modern Germany. Marcelo Bucheli is Associate Professor of Business Administration at the Gies College of Business, University of Illinois at Urbana-Champaign, USA. His research focuses on the political economy of multinational corporations in Latin America, theoretical and methodological approaches to the study of the relationship between firms and states in a historical perspective, and business groups. Hosted by Paula De La Cruz-Fernandez, consultant, historian, and digital editor. New Books Network en español editor. Edita CEO. Learn more about your ad choices. Visit megaphone.fm/adchoices

In the early 1920s, Americans owned 80 percent of the world’s automobiles and consumed 75 percent of the world’s rubber. But only one percent of the world’s rubber grew under the U.S. flag, creating a bottleneck that hampered the nation’s explosive economic expansion. To solve its conundrum, the Firestone Tire and Rubber Company turned to a tiny West African nation, Liberia, founded in 1847 as a free Black republic. Empire of Rubber: Firestone's Scramble for Land and Power in Liberia (New Press, 2021) tells a sweeping story of capitalism, racial exploitation, and environmental devastation, as Firestone transformed Liberia into America’s rubber empire. Historian and filmmaker Gregg Mitman scoured remote archives to unearth a history of promises unfulfilled for the vast numbers of Liberians who toiled on rubber plantations built on taken land. Mitman reveals a history of racial segregation and medical experimentation that reflected Jim Crow America—on African soil. As Firestone reaped fortunes, wealth and power concentrated in the hands of a few elites, fostering widespread inequalities that fed unrest, rebellions and, eventually, civil war. A riveting narrative of ecology and disease, of commerce and science, and of racial politics and political maneuvering, Empire of Rubber uncovers the hidden story of a corporate empire whose tentacles reach into the present. Gregg Mitman is the Vilas Research and William Coleman Professor of History, Medical History, and Environmental Studies at the University of Wisconsin–Madison. An award-winning author and filmmaker, his recent films and books include The Land Beneath Our Feet and Breathing Space: How Allergies Shape Our Lives and Landscapes. He lives near Madison, Wisconsin. Website. 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

Empire of Austerity: Russia and the Breaking of Eurasia (Hurst, 2025) traces how Russian economic policy precipitated the country’s slide towards an increasingly coercive authoritarianism, a hubristic challenge to the West, and all-out war with Ukraine. Decades of dependence on commodity exports, failure to invest and failure to consume enough have condemned not only the Russian Federation, but Eurasia more broadly, to stagnation and conflict. Only time will tell if Russia and its neighbours can escape the zero-sum politics of austerity in a world of rapidly evolving geopolitical, energy and climate crises. Learn more about your ad choices. Visit megaphone.fm/adchoices

You’ve got to speculate to accumulate. We apply that notion to individuals in pursuit of wealth, but what about countries? The Debt of a Nation: Land and the Financing of the Canadian Settler State, 1820–73 (U of British Columbia Press, 2025) is the first comprehensive history of Canada’s nineteenth-century public debt. Beginning in the 1820s, loans gave British North American settler governments access to unprecedented amounts of capital at low interest rates. The credit for such loans derived from colonial appropriation of Indigenous territories, and this process essentially created a market value for stolen land. Dr. Angela Tozer explores the role of public debt financing in the consolidation of the Canadian settler state: Upper Canada’s first public debt, issued as securities on the London Stock Exchange; the unique government land tenure of Prince Edward Island and attendant impact on Mi’kmaw homelands; and the purchase of Rupert’s Land via a loan. She analyzes how an economic system centred on credit and debt relied on two factors: settlers had to become the risk bearers – though not necessarily the beneficiaries – of loans, and colonial governments had to have the power to appropriate Indigenous territories in order to appear creditworthy. This history of the intimate relationship between public debt and colonization underscores the importance of the appropriation of Indigenous lands to global markets. 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