New Books in Economics

Latest Episodes:

Dariusz Wojcik et al., "Atlas of Finance: Mapping the Global Story of Money" (Yale UP, 2024) Oct 31, 2024

Show notes

From the emergence of money in the ancient world to today’s interconnected landscape of high-frequency trading and cryptocurrency, the story of finance has always taken place on an international stage. Finance is one of the most globalized and networked of human activities, and one of the most important social technologies ever invented.

Atlas of Finance: Mapping the Global Story of Money (Yale University Press, 2024) by Dr. Dariusz Wójcik is the first visually based book dedicated to finance and uses graphics and maps to bring the complex and abstract world of finance down to earth, showing how geography is fundamental for understanding finance, and vice versa. It illuminates the people—including Adam Smith, Karl Marx, and John Maynard Keynes—who have shaped our thinking about global finance; brings to life the ways that place-specific histories, laws, regulations, and institutions influence finance; shows how finance relates to innovation, globalization, and environmental change; and details how finance plays a key part in drawing the landscape of uneven development, inequality, and instability.

This interview was conducted by Dr. Miranda Melcher whose new 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.

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Mark W. Geiger, "Floor Rules: Insider Culture in Financial Markets" (Yale UP, 2024) Oct 29, 2024

Show notes

Are financial markets lawless and irrational? It may seem that way from the outside, but for market insiders there are multiples sets of rules that they break at their peril.

Official rules set by law or by the exchanges exist alongside unofficial rules, or floor rules. Between these, it is the floor rules -- the norms followed by other insiders -- that matter most. Breaking an official rule might lead to a fine or even jail. Breaking floor rules can lead to being ostracized from markets as well as social and financial ruin.

In Floor Rules: Insider Culture in Financial Markets(Yale UP, 2024), Mark W. Geiger tells compelling stories of market disturbances in which insider rules played a key role. He examines the norms, customs, values, and operating modes of insiders at the center of financial markets that trade money, stocks, bonds, futures, and other financial derivatives. These core insiders are a relatively small group who govern the markets.

The book tells the riveting story of Benjamin Hutchinson, who made national news for his dramatic 1888 wheat market corner in Chicago, in which he outsmarted four powerful traders who had joined to force him out of the market, survived a life-threatening physical assault on the trading floor, and almost brought down the Chicago wheat market.

It also unpacks the LIBOR scandal of 2008 in which bankers in major international firms manipulated interbank loan rates to inflate their own profits at the expense of investors and at tremendous risk to the industry.

Geiger analyzes the cultural history of market trading, describes the role of insiders, and suggests where this peculiar, ingrown culture is heading in an era of technological change.

The book releases on October 29, the 95th anniversary of the Black Tuesday crash of 1929, the beginning of the Great Depression.

Related resources:

Mark Geiger's personal website and portfolio of generative AI artwork

Author recommended reading:

Den of Thieves by James B. Stewart
Phishing for Phools: The Economics of Manipulation and Deception by George A. Akerlof and Robert J. Shiller

Hosted by Meghan Cochran

NOTE: Kluge Fellow at the Library of Congress should have been pronounced with a hard "g" as in kloo-ghee.

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Eric Helleiner, "The Neomercantilists: A Global Intellectual History" (Cornell UP, 2021) Oct 29, 2024

Show notes

At a time when critiques of free trade policies are gaining currency, The Neomercantilists: A Global Intellectual History(Cornell UP, 2021) helps make sense of the protectionist turn, providing the first intellectual history of the genealogy of neomercantilism. Eric Helleiner identifies many pioneers of this ideology between the late eighteenth and early twentieth centuries who backed strategic protectionism and other forms of government economic activism to promote state wealth and power. They included not just the famous Friedrich List, but also numerous lesser-known thinkers, many of whom came from outside of the West.

Helleiner's novel emphasis on neomercantilism's diverse origins challenges traditional Western-centric understandings of its history. It illuminates neglected local intellectual traditions and international flows of ideas that gave rise to distinctive varieties of the ideology around the globe, including in Latin America, the Caribbean, Africa, and Asia. This rich history left enduring intellectual legacies, including in the two dominant powers of the contemporary world economy: China and the United States.

The result is an exceptional study of a set of profoundly influential economic ideas. While rooted in the past, it sheds light on the present moment. The Neomercantilists shows how we might construct more global approaches to the study of international political economy and intellectual history, devoting attention to thinkers from across the world, and to the cross-border circulation of thought.

Eric Helleiner is an author and professor of political science and the Faculty of Arts Chair in International Political Economy at the University of Waterloo.

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. Twitter.

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Simon Kuznets and the Invention of the Economy Oct 27, 2024

Show notes

Economics sometimes feels like a physics–so sturdy, so objective, and so immutable. Yet, behind every clean number or eye-popping graph, there is usually a rather messy story, a story shaped by values, interests, ideologies, and petty bureaucratic politics. In Cited Podcast’s new mini-series, the Use and Abuse of Economic Expertise, we tell the hidden stories of the economic ideas that shape our world. For future episodes of our series, and a full list of credits, visit our series page.

On episode one, we begin at the beginning: the invention of the modern economy, or at least the idea of the economy. It starts with one measure: the GDP, or gross domestic product. It’s a measure that comes to define what we mean by ‘the economy.’ Before GDP, we did not really speak in those terms. Cited producer Alec Opperman talks to sociologist Dan Hirshman, who brings the story of the man who pioneered the GDP, Simon Kuznets. Yet, the GDP was not the measure the Kuznets hoped it would be. It’s a story that reveals the surprisingly contentious politics of counting things up.

Plus, what about alternatives to GDP? The Genuine Progress Indicator, the Human Development Index, the Green GDP, and so on. These measures are said to be more progressive, as they often capture things we value (like, care work for instance), and subtracting out things we could use less off (like, environmental degradation). Scholars and policy wonks have been raging about these types of measures for decades, but they have not taken off. Why? Economic historian Dirk Philipsen, author of The Little Big Number: How GDP Came to Rule the World and What to Do About It(Princeton UP, 2017), talks to Alec about why a good number alone is never enough to change the world.

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Andrew deWaard, "Derivative Media: How Wall Street Devours Culture" (U California Press, 2024) Oct 27, 2024

Show notes

Sequels, reboots, franchises, and songs that remake old songs—does it feel like everything new in popular culture is just derivative of something old? Contrary to popular belief, the reason is not audiences or marketing, but Wall Street. In this book, Andrew deWaard shows how the financial sector is dismantling the creative capacity of cultural industries by upwardly redistributing wealth, consolidating corporate media, harming creative labor, and restricting our collective media culture. Moreover, financialization is transforming the very character of our mediascapes for branded transactions. Our media are increasingly shaped by the profit-extraction techniques of hedge funds, asset managers, venture capitalists, private equity firms, and derivatives traders. Illustrated with examples drawn from popular culture, Derivative Media: How Wall Street Devours Culture(University of California Press, 2024) offers readers the critical financial literacy necessary to understand the destructive financialization of film, television, and popular music—and provides a plan to reverse this dire threat to culture.

A free digital version of this title is available here.

Andrew deWaard is Assistant Professor of Media and Popular Culture at the University of California, San Diego, and coauthor of The Cinema of Steven Soderbergh: Indie Sex, Corporate Lies, and Digital Videotape.

Peter C. Kunze is assistant professor of communication at Tulane University.

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Matilde Masso, "Contested Money: Towards a New Social Contract" (Routledge, 2023) Oct 25, 2024

Show notes

Discussing money is always accompanied by controversy as well as enchantment. Debating what money is and how it performs its main functions in the contemporary economy is fundamental to understanding the social consequences of money transformation associated with the digital revolution. This book explores the links between the current and prospective properties of money, its production, and its relationship to the concepts of value, the common good, and innovation.

Contested Money: Towards a New Social Contract (Routledge, 2023) opens a debate on the role that money could play in a different paradigm based on a renewed conception of monetary properties and functions that are capable of having a positive impact on social and individual welfare. Massó outlines the fundamentals of this monetary model, which would operate as a parallel currency, where the processes of monetary and value creation are connected in a new deal between the citizen and the state, grounded on an approach of reciprocal rights and responsibilities.

This book will appeal to scholars, students, and, more broadly, readers interested in a contemporary understanding of what money is, how it is being transformed, and the role that it can play in redefining the twenty-first-century social contract.

Matilde Massó is an Associate Professor of Sociology in the Department of Sociology and Communication Sciences at the University of A Coruña (UDC). Her main research interests focus on the transformations of money, the role of culture and emotions in economic processes, and how technological innovation is shaping a new conception of the economy concerning theories of justice. She has extensive experience leading research projects in economic sociology, particularly in financialization studies, the sociology of money, and financial innovation. Her recent publications include Contested Money (Routledge, 2024) and Why Money Matters? (Journal of Economic Issues, 2023). Additionally, she was awarded a Marie Curie IF Action in 2016.

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Deborah Valenze, "The Invention of Scarcity: Malthus and the Margins of History" (Yale UP, 2023) Oct 24, 2024

Show notes

A radical new reading of eighteenth-century British theorist Thomas Robert Malthus, which recovers diverse ideas about subsistence production and environments later eclipsed by classical economics

With the publication of Essay on the Principle of Population and its projection of food shortages in the face of ballooning populations, British theorist Thomas Robert Malthus secured a leading role in modern political and economic thought. In this startling new interpretation, Deborah Valenze reveals how canonical readings of Malthus fail to acknowledge his narrow understanding of what constitutes food production.

Valenze returns to the eighteenth-century contexts that generated his arguments, showing how Malthus mobilized a redemptive narrative of British historical development and dismissed the varied ways that people adapted to the challenges of subsistence needs. She uses history, anthropology, food studies, and animal studies to redirect our attention to the margins of Malthus’s essay, where activities such as hunting, gathering, herding, and gardening were rendered extraneous. She demonstrates how Malthus’s omissions and his subsequent canonization provided a rationale for colonial imposition of British agricultural models, regardless of environmental diversity.

By broadening our conception of human livelihoods, Valenze suggests pathways to resistance against the hegemony of Malthusian political economy. The Invention of Scarcity: Malthus and the Margins of History(Yale UP, 2023) invites us to imagine a world where monoculture is in retreat and the margins are recentered as spaces of experimentation, nimbleness, and human flourishing.

Deborah Valenze is the Ann Whitney Olin Professor of History at Barnard College. A recipient of numerous fellowships, she has written four previous books on British culture and economic life. She lives in Cambridge, MA, and New York City.

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

India Rising: Navigating the Second Cold War in South Asia from Nepal to the Maldives Oct 23, 2024

Show notes

What is the role of India in the Second Cold War (SCW) in South Asia? How do local histories, internal politics, and subnational dynamics shape relations with India and China? How does connectivity and infrastructure become a tool for geopolitical competition in the region, from China’s BRI to India’s infrastructural collaboration, and the US’s Millennium Challenges Corporation? On this episode we sit down with Dr. Dinesh Paudel and Aaron Magunna to answer these questions and discuss how it unfolds through cases in the Maldives and Nepal. A wide-ranging conversation, we learn about a rising India, India-China tensions, and how local politics shape the regional SCW.

Dr. Dinesh Paudel is a Professor in the Sustainable Development Department at Appalachian State University. His current research focuses on exploring the relationships and entanglements between the rising Asian economies, growing environmental degradations and rapidly expanding infrastructure in the Himalaya. He has written extensively on infrastructure and the Belt and Road Initiative in Nepal.

Aaron Magunna is a PhD student at the University of Queensland in Australia. His research focuses primarily on how countries in Asia, particularly India and Japan, respond to China-US competition by adapting their security, trade, and technology policies.

Resources:

Paudel, Dinesh. 2021. Himalayan BRI: an infrastructural conjuncture and shifting development in Nepal. Area Development and Policy.
Paudel, D., & Rankin, K. (2022). Himalayan geopolitical competition and the agency of the infrastructure state in Nepal. In The Rise of the Infrastructure State (pp. 213-226). Bristol University Press.

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kevin Sanson, "Mobile Hollywood: Labor and the Geography of Production" (U California Press, 2024) Oct 20, 2024

Show notes

What is the future of the film industry? In Mobile Hollywood Labor and the Geography of Production(U California Press, 2024), Kevin Sanson, Professor of Media Studies and Head of the School of Communication at Queensland University of Technology, examines the way Hollywood film production has become a global industry. The book theorises Hollywood as a distinct spatial assemblage, and examines the consequences of the rise of global, mobile film production for places and for workers. Offering a unique perspective on the challenges of this new mode of production, alongside insights on how ‘good work’ can be defended and preserved in media industries, the book is essential reading across the humanities and social sciences, as well as for anyone interested in media today. The book is also available open access here.

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tevi Troy, "The Power and the Money: The Epic Clashes Between Commanders in Chief and Titans of Industry" (Regnery History, 2024) Oct 16, 2024

Show notes

When U.S. presidents clash with corporate titans, what tips the balance of power?

In The Power and the Money: The Epic Clashes Between Commanders in Chief and Titans of Industry(Regnery History, 2024), acclaimed presidential historian Tevi Troy takes readers on a riveting journey through the biggest battles between CEOs and the nation's commander in chief. He unearths the untold stories - both political and personal - that have shaped America.

Troy shows how the vast reach of the federal government become a critical fact of life for every business, entrepreneur, and innovator. Today, companies find themselves navigating a competitive landscape defined by stringent regulations, so top CEOs and key business leaders must influence the legislative and regulatory system. As public affairs teams and government relations experts put forward strategies to survive Washington, CEOs have become the most important warrior on the frontlines. The Power and the Money shows how some of the nation's most important CEOs forged (and fumbled) relationships with the president.

Troy also shows how the most powerful man in the world depends on CEOs. CEOs provide assistance in the form of personnel, policy insights, and campaign cash, but they also become essential foils for presidents, serving as both allies and convenient enemies.

The Power and the Money reveals an intricate web of power, where CEOs need presidents, and presidents need CEOs. Troy shows how each must step carefully - or risk unpredictable costs and collateral damage. From heavyweights John D. Rockefeller and Mark Zuckerberg to Katherine Graham, Elon Musk, and more, Troy takes readers inside the friendships and the conflicts that shook the American economy and re-shaped America.

Drawing on his experiences as bestselling historian and former senior White House aide, Troy offers unique insights and details that shed light on the growing, intertwining behemoths of government and big business - and what it means for the future of our nation.

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

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Our TOPPODCAST Picks

Follow Us

Stay Connected

Related Podcasts

Links

Stay Connected