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 triumphant globalization that began in the 1990s has given way to a world riven by conflict, populism, and economic nationalism. In The World's Worst Bet: How the Globalization Gamble Went Wrong (And What Would Make It Right), (PublicAffairs, 2025) David J. Lynch offers a trenchant, fast-paced narrative of the rise and fall of the greatest engine of prosperity the world has ever known. Lynch explains what went right, what went wrong, and what needs to change to preserve the benefits of global integration and to build prosperity for all Americans. Lynch brings a deep understanding of the forces affecting Americans’ lives to his portrayal of a fascinating cast of characters: presidents and policymakers; factory workers whose anger over lost jobs reshaped a nation’s politics; and the anti-globalization warriors of the right and left. Their stories show how the United States made a bad bet on globalization, gambling that it could enjoy its benefits while ignoring its costs: dislocated workers, vulnerable supply chains, and the rise of a powerful rival. With trillions of dollars now at stake, The World’s Worst Bet explains the failings of the past and offers an insightful guide to the opportunities of the future. David J. Lynch is the global economics correspondent of the Washington Post. The recipient of the National Press Foundation’s Hinrich Award for Distinguished Reporting on Trade in 2021, Lynch has reported from more than sixty countries for the Post and earlier in his career with the Financial Times of London, Bloomberg News, and USA Today. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Inequality in the workplace impacts all areas of our lives, from health and self-development to economic security and family life. But, despite the world's richest countries' long-avowed commitments to gender equality, there is still so much to fix - and so much we don't see.With perceptive and razor-sharp insight, in Patriarchy Inc.: What We Get Wrong About Gender Equality – and Why Men Still Win at Work (W.W. Norton, 2025) award-winning author Cordelia Fine reveals how the status quo - Patriarchy Inc. - is harming us all, in our working lives and beyond. Drawing on social and cultural history, examples from hunter-forager societies to high finance and the latest thinking in evolutionary science, she dismantles the existing, inadequate visions for gender equality and charts an inspiring path towards a fairer and freer society Cordelia Fine is a Canadian-born British philosopher of science, psychologist, and writer. She is a full professor in the History and Philosophy of Science programme at the University of Melbourne, Australia. 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

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 Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

For this episode of Liminal Library, I interviewed Dan Davies about The Unaccountability Machine: Why Big Systems Make Terrible Decisions—and How the World Lost Its Mind (U Chicago Press, 2025). Davies examines how we've systematically engineered responsibility out of our institutions, creating a world where major decisions happen without clear human accountability. Davies draws on Stafford Beer's cybernetics to explain how modern organizations function as systems with their own patterns and responses. As he puts it, "the system is not conscious and so does not have incentives, but it has consistent patterns of response to stimuli." This isn't about individual moral failures – it's about the industrialization of decision-making itself. We've moved from Harry Truman's "The Buck Stops Here" to complex processes and standardized criteria that diffuse responsibility across multiple layers. When things go wrong – financial crises, environmental failures, social breakdowns – no single person can be held accountable because no single person actually made the decision. Davies traces this transformation through three revolutions: the managerial revolution that shifted control from owners to professional administrators, the cybernetic revolution that offered tools to understand these systems but never fully materialized, and the neoliberal revolution that reshaped society while ignoring that increasingly, systems rather than people make the decisions affecting our lives. These accountability machines, as Davies calls them, operate according to their own logic and constraints. Understanding them is essential for grasping why institutional failures seem both inevitable and impossible to prevent within our current frameworks. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Law and Development: Theory and Practice, 2nd edition (Routledge, 2021) examines the theory and practice of law and development. It introduces the General Theory of Law and Development, an innovative approach which explains the mechanisms by which law impacts development. This book analyzes the process of economic development in South Korea, South Africa, and the United States from legal and institutional perspectives. The book also explains why the concept of "development" is not only relevant to developing countries but to developed economies as well. The new edition includes five new chapters addressing the relationships between law and economic development in several key areas, including property rights, political governance, business transactions, state industrial promotion, and international trade and development. This interview covers the main themes of this book, covers some of his papers, the relationship of his work to other scholars, and serves as a foundation for understanding Dr. Lee’s work more broadly. His latest book, Sustainable Peace in Northeast Asia will be the subject of a second interview. Yong-Shik Lee is a scholar in law and development, and is currently Director of the Law and Development Institute and a Professor at West Virginia University. Dr. Lee graduated in economics from the University of California at Berkeley and received law degrees from the University of Cambridge. Previous books include Reclaiming Development in the World Trading System; Microtrade: A New System of Trade Toward Poverty Elimination; Law and Development Perspective on International Trade Law; and Safeguard Measures in World Trade: The Legal Analysis. His latest book, Sustainable Peace in Northeast Asia, was published by Anthem Press. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

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 Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

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 Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

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 Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Uncertainties are everywhere. Whether it’s climate change, financial volatility, pandemic outbreaks or new technologies, we don’t know what the future will hold. For many contemporary challenges, navigating uncertainty – where we cannot predict what may happen – is essential and, as the book explores, this is much more than just managing risk. But how is this done, and what can we learn from different contexts about responding to and living with uncertainty? Indeed, what might it mean to live from uncertainty? Drawing on experiences from across the world, the chapters in Navigating Uncertainty: Radical Rethinking for a Turbulent World (Polity, 2024) explore finance and banking, technology regulation, critical infrastructures, pandemics, natural disasters and climate change. Each chapter contrasts an approach centred on risk and control, where we assume we know about and can manage the future, with one that is more flexible, responding to uncertainty.The book argues that we need to adjust our modernist, controlling view and to develop new approaches, including some reclaimed and adapted from previous times or different cultures. This requires a radical rethinking of policies, institutions and practices for successfully navigating uncertainties in an increasingly turbulent world. Ian Scoones is a Professorial Fellow at the Institute of Development Studies, University of Sussex 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

Environmental sustainability policy has failed due to focusing on symptoms rather than the root cause problems. Through significant research and a detailed roadmap for how to achieve sustainability by 2050, Buffington provides a realistic, game changing path forward that is both good for the environment and the economy. Dr. Jack Buffington received a Ph.D. in Supply Chain Management from the Lulea University of Technology in Sweden, and a Post-Doctorate at the Royal Institute of Technology in Stockholm, and now he is currently the Program Director/Professor for the Supply Chain Management program and the Denver Transportation Institute at the University of Denver. Jack has published over twenty peer-reviewed journal articles and seven books before this one. Jack’s current research efforts are focused on Africa, which he believes is the epicenter of where environmental innovation must be fostered. And he is also Sustainability Director at First Key Consulting, a global brewing consulting firm. Jack is collaborating with innovators in supply chain, sustainability, and healthcare across the planet. Before these roles, Jack was responsible for supply chain logistics for MillerCoors Brewing Company, the second-largest beer company in the U.S. and the fourth-largest worldwide. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

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 Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Command of Commerce: America's Enduring Economic Power Advantage over China (Oxford UP, 2025) provides a systematic reevaluation of the balance of economic power between the U.S. and China. The conventional wisdom is that China's economic power is very close to America's and that Washington cannot undertake a broad economic cutoff of China without hurting itself as much or more. This book demonstrates the conventional wisdom is wrong on both fronts. In peacetime, America's lead in economic power over China is more dramatic than commonly appreciated because the vast majority of the firms that drive global commerce, particularly in high-technology sectors, are based in the U.S. and its allies. China's economic capacity has also been overestimated because Beijing manipulates its economic data and because comparing China's uniquely structured economy with other leading economies is challenging. These facts are necessary to understand why Washington has been able to target and undermine individual Chinese companies and even entire sectors in recent years while facing so little retaliation from Beijing. America's advantage in economic power over China would be even more marked in wartime. Our analysis indicates Washington could impose massive, disproportionate harm on Beijing if it were to impose a broad economic cutoff of China in cooperation with its allies or via a distant naval blockade. Across six scenarios, China's short-term economic losses from a broad cutoff range from being 5 to 11 times higher than America's. And in the long run, America and almost all its allies would return to previous economic growth levels; in contrast, China's growth would be permanently degraded Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

“Ladies and gentlemen, the Bronx is burning!” That legendary and apocryphal phrase, allegedly uttered by announcers during the 1977 World Series as flames rose above Yankee Stadium, seemed to encapsulate an entire era in this nation’s urban history. Across that decade, a wave of arson coursed through American cities, destroying entire neighborhoods home to poor communities of color. Yet as historian Bench Ansfield demonstrates in Born in Flames: The Business of Arson and the Remaking of the American City (Norton, 2025), the vast majority of the fires were not set by residents, as is commonly assumed, but by landlords looking to collect insurance payouts. Driven by perverse incentives—new government-sponsored insurance combined with tanking property values—landlords hired “torches,” mostly Black and Brown youth, to set fires in the buildings, sometimes with people still living in them. Tens of thousands of families lost their homes to these blazes, yet for much of the 1970s, tenant vandalism and welfare fraud stood as the prevailing explanations for the arson wave, effectively indemnifying landlords. Ansfield’s book, based on a decade of research, introduces the term “brownlining” for the destructive insurance practices imposed on poor communities of color under the guise of racial redress. Ansfield shows that as the FIRE industries—finance, insurance, and real estate— eclipsed manufacturing in the 1970s, they began profoundly reshaping Black and Brown neighborhoods, seeing them as easy sources of profit. At every step, Ansfield charts the tenant-led resistance movements that sprung up in the Bronx and elsewhere, as well as the explosion of popular culture around the fires, from iconic movies like The Towering Inferno to hit songs such as “Disco Inferno.” Ultimately, they show how similarly pernicious dynamics around insurance and race are still at play in our own era, especially in regions most at risk of climate shocks. Bench Ansfield is Assistant Professor of History at Temple University. They hold a PhD in American Studies from Yale University and won the Allan Nevins Prize for the best dissertation in American history from the Society of American Historians. They live in Philadelpha, Pennsylvania. Bluesky. 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 Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics