New Books In Economics

At the opening of the twentieth century, labor strife repeatedly racked the nation. Union organization and collective bargaining briefly looked like a promising avenue to stability. But both employers and many middle-class observers remained wary of unions exercising independent power. In The Bosses' Union: How Employers Organized to Fight Labor Before the New Deal (U Illinois Press, 2023), Vilja Hulden reveals how this tension provided the opening for pro-business organizations to shift public attention from concerns about inequality and dangerous working conditions to a belief that unions trampled on an individual's right to work. Inventing the term closed shop, employers mounted what they called an open-shop campaign to undermine union demands that workers at unionized workplaces join the union. Employer organizations lobbied Congress to resist labor's proposals as tyrannical, brought court cases to taint labor's tactics as illegal, and influenced newspaper coverage of unions. While employers were not a mo

"Within our mandate, the [European Central Bank] is ready to do whatever it takes to preserve the euro. And believe me, it will be enough". With those three words delivered in London on 26 July 2012, Mario Draghi - the ECB's president from 2011-2019 - stopped a contagious collapse of Europe's common currency after just one decade. Jana Randow and Alessandro Speciale write in Mario Draghi: The True Story of the Man Who Saved the Euro (Rizzoli, 2019): “So simple a phrase, delivered at the right time in front of the right audience, it will hang on as a warning to investors when Draghi is long gone that central bankers in Europe are ready to defend their currency against speculative attacks brought on by people not quite aware of their resolve". Draghi, who went on to see Italy through the Covid pandemic as its prime minister from 2021-2022, has acquired mythical status. Who is he? What are the skills that allowed him to succeed where others may have failed? How did he manage the ECB's governing council in compar

John Cochrane, economist and senior fellow at the Hoover Institution at Stanford University, joins the podcast to discuss his career, his new book, The Fiscal Theory of the Price Level, about how inflation can be explained by fiscal and monetary policy, New Keynesian macroeconomic models, consumption-based asset pricing and institutional barriers to economic growth. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The International Labour Organization estimates that in Southeast Asia there are 30 million children engaged in paid work, 17 million in engaged in unpaid work and 50 million who don’t attend school. These figures can be a shock to people living in countries like Australia where childhood is typically a non-productive stage of life more readily associated with schooling and dependence on adults. What is the meaning of “childhood” in contexts of adversity where if you don’t work as a child, you and your family won’t survive? What does it mean where to attend school is to place your family in a precarious financial situation? To discuss these questions is Dr Maria Amigó, senior lecturer at the University of Sydney. Maria is a social anthropologist and has studied children and childhood in contexts of adversity for over 20 years. Amigó is the author of Children Chasing Money: Children's Work in Rural Lombok, Indonesia (VDM, 2010). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by

Morris Kleiner, the AFL-CIO Chair in Labor Policy at the Humphrey School of Public Affairs at the University of Minnesota and arguably the world's leading authority on occupational licensing, joins the podcast to discuss how he became an economist, the origins of occupational licensing in the 19th and 20th centuries, how since WW2 it's become a major barrier to economic opportunity in the U.S., and how there is some hope for a growing tide of policy initiatives in the early 21st century seeking to relax occupational licensing regulations.  Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Jon Hartley interviewed Rob Arnott, founder and chairman of Research Affiliates, at the Economic Club of Miami on December 3, 2022. Topics discussed include the recent rise of inflation, macroeconomics, capital market returns, value versus growth stocks, factor timing, and index investing among many other topics. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Casey Mulligan, Professor in Economics and the College at the University of Chicago, joins the podcast to discuss how he got interested in becoming an economist from his days as an undergraduate at Harvard in Martin Feldstein's Ec10 class, being an economics graduate student and professor at the University of Chicago teaching the Chicago Price Theory approach, his experience working in the Trump Council of Economic Advisors (CEA), and the long-term influence of University of Chicago economics figures like Milton Friedman, Gary Becker, and George Stigler.  Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Platform capitalism is coming for the money in your pocket. Wherever you look, money is being re-placed by tokens. Digital platforms are issuing new kinds of money-like things: phone credit, shares, gift vouchers, game tokens, customer data--the list goes on. But what does it mean when online platforms become the new banks? What new types of control and discrimination emerge when money is tied to specific apps or actions, politics or identities? Tokens opens up this new and expanding world. Exploring the history of extra-monetary economies, Rachel O'Dwyer shows that private and grassroots tokens have always haunted the real economy. But as the large tech platforms issue new money-like instruments, tokens are suddenly everywhere. Amazon's Turk workers are getting paid in gift cards. Online streamers trade in wishlists. Foreign remittances are sent via phone credit. Bitcoin, gift cards, NFTs, customer data, and game tokens are the new money in an evolving economy. It is a development challenging the balance of

Salim Furth (Senior Research Fellow and and Director of the Urbanity project, Mercatus Center) joins the podcast to discuss his background as a macroeconomist turned urban economist and a variety of topics in long-term housing market trends and urban policy, including zoning, LIHTC, rent control, and institutional investor single family rentals, some of which we argue are shaping macro trends in home prices.   Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Creating the Post-Soviet Russian Market Economy: Through American Eyes (Routledge, 2023) captures the essence of the period when Russians and Americans collaborated in creating new structures of government and new businesses in completely uncharted conditions. It presents the experiences of key American participants in late Soviet and post-Soviet Russia during a time when Americans thought anything was possible in Russia. Using an analytic framework of foreground ideas (Western, liberal & neo-liberal) and background forces (Russian cultural influences, nationalism, and lingering Soviet ideology), it examines the ideas and intentions of the people involved. First-person interviews with consultants, businesspeople, and citizen diplomats help capture the essence of this turbulent reform period through the eyes of those who experienced it and presents the importance of this experience as a piece of the puzzle in understanding contemporary Russia. It will be an invaluable resource for students of international rel

Kyle Hauptman (National Credit Union Administration Vice Chairman) speaks on his beginnings working in finance, as an economic policy advisor on the Mitt Romney Presidential campaign as well as in Congress before becoming Vice Chairman of the NCUA, one of the top U.S. financial regulators overseeing approximately 5,000 credit unions which count over 140 million members. Topics ranging from the history of credit unions, deposit insurance and financial regulation, along with how financial regulators are adapting to a world with cryptocurrency and digital assets, are discussed. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In their remarkable new book Slavery, Capitalism, and the Industrial Revolution (Polity, 2023), Professor Maxine Berg and Professor Pat Hudson “follow the money” to document in revealing detail the role of slavery in the making of Britain’s industrial revolution. Slavery was not just a source of wealth for a narrow circle of slave owners who built grand country houses and filled them with luxuries. The forces set in motion by the slave and plantation trades seeped into almost every aspect of the economy and society. In textile mills, iron and copper smelting, steam power, and financial institutions, slavery played a crucial part. Things we might think far removed from the taint of slavery, like 18th century fashions for indigo- patterned cloth, sweet tea, snuff boxes, mahogany furniture, ceramics and silverware, were intimately connected. Even London’s role as a centre for global finance was partly determined by the slave trade as insurance, financial trading and mortgage markets were developed in the City to

Milton Friedman student and University of Chicago-trained monetary economist Warren Coats (Johns Hopkins fellow, former IMF economist and central bank advisor to over 20 countries) speaks about his beginnings as an economist as PhD student of Milton Friedman's at the University of Chicago, his 30 year career at the IMF leading central bank technical assistance developing currencies and monetary policy in countries ranging from post-USSR Eastern Europe, post-conflict Bosnia and Kosovo in the 1990s as well as Afghanistan and Iraq in the 2000s following regime change. We also discuss the future of SDRs and the US dollar as a reserve currency in the International Monetary System along with Warren's experience as chief of the IMF SDR division. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

It's been 40 years since Milton Friedman's famous ten-part television series 'Free To Choose' was broadcast on PBS. Rob Chatfield, President and CEO of the Free To Choose Network (FTCN), speaks to us about the legacy of the original series as well as the variety of new FTCN media programs that continue to promote the ideas of Milton Friedman.  Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Economic journalist and broadcaster Doug Henwood revisits his 2003 book, After the New Economy (New Press), with Peoples & Things host, Lee Vinsel. “The New Economy” was a catchphrase that became extremely popular with economists, politicians, pundits, and many others during Bill Clinton’s presidency. The phrase was thought to describe a new economic reality rooted in information and computing technologies that would give rise to an extended period of abundance and prosperity that Clinton compared to the industrial revolution. But the phrase became unpopular after the dot com bust of 2000-2002, which also marked the end of the 1990s economic expansion. Henwood and Vinsel discuss Henwood’s long career as an economic journalist and how he came to write the book as well as how studying “the New Economy” makes the technology bubbles of the 2010s feel like deja vu. Lee Vinsel is an associate professor in the Department of Science, Technology and Society at Virginia Tech. He studies human life with technology, with

Think about the last time that you saw or interacted with an unhoused person. What did you do? What did you say? Did you offer money or a smile, or did you avert your gaze?  When We Walk By: Forgotten Humanity, Broken Systems, and the Role We Can Each Play in Ending Homelessness in America (North Atlantic Books, 2023) takes an urgent look at homelessness in America, showing us what we lose—in ourselves and as a society—when we choose to walk past and ignore our neighbors in shelters, insecure housing, or on the streets. And it brilliantly shows what we stand to gain when we embrace our humanity and move toward evidence-based people-first, community-driven solutions, offering social analysis, economic and political histories, and the real stories of unhoused people. Authors Kevin F. Adler and Donald W. Burnes, with Amanda Banh and Andrijana Bilbija, recast chronic homelessness in the U.S. as a byproduct of twin crises: our social services systems are failing, and so is our humanity. A necessary, deeply humaniz

Progress and development have long been important issues in anthropology and social sciences. Based on extensive archives and ethnographic fieldwork, Progress in the Balance: Mythologies of Development in Santos, Brazil (Cornell UP, 2023) addresses and assesses an anthropological theory of progress. Daniel Reichman documents and explains the contested meanings of progress, and reveals how this concept is deeply embedded in Brazil’s histories and socio-cultural contexts. Further, he investigates how any society can separate “progress” from plain old change and, if changes are constantly happening all around us, how and why certain events get lifted out of a normal timeframe and into a mythic narrative of progress. Each chapter in the book outlines a particular episode in Santos, a city undergoing an unprecedented period of economic and political turmoil, as it is represented in public culture, mainly through museums, monuments, art, sports, and public events. Drawing on narrative stories and the anthropology o

The Dominican Republic has posted impressive economic growth rates over the past thirty years. Despite this, the generation of new, good jobs has been remarkably weak. How have ordinary and poor Dominicans worked and lived in the shadow of the country's conspicuous growth rates? Jobless Growth in the Dominican Republic: Disorganization, Precarity, and Livelihoods (Stanford UP, 2022) considers this question through an ethnographic exploration of the popular economy in the Dominican capital. Focusing on the city's precarious small businesses, including furniture manufacturers, food stalls, street-corner stores, and savings and credit cooperatives, Krohn-Hansen shows how people make a living, tackle market shifts, and the factors that characterize their relationship to the state and pervasive corruption. Empirically grounded, this book examines the condition of the urban masses in Santo Domingo, offering an original and captivating contribution to the scholarship on popular economic practices, urban changes, and

Bubble tea, also known as pearl milk tea, boba or tapioca milk tea is a popular drink in Asia. Wherever there is Asian diaspora, such as in the USA, one can find bubble tea as well. Bubble tea is becoming increasingly visible even in European countries where there are relatively smaller Asian communities compared with the situation in the USA. One can find various versions of bubble tea in urban areas such as Helsinki, Vienna, and London. In this episode, Julie Yu-Wen Chen (University of Helsinki) talks to Stella Zhang about her doctoral research at the Faculty of Social Sciences at the University of Helsinki. Stella is interested in the globalisation of food, East-Asian migration and youth culture. Her work investigates how Asia-originated bubble tea, and the wider culture surrounding it, is developing in greater Helsinki, why is it taking off, which sorts of people are involved, how bubble tea is altered – practically and symbolically – as it is made to work in the Helsinki context, and what the implication

New York Times tech reporter Kashmir Hill was skeptical when she got a tip about a mysterious app called Clearview AI that claimed it could, with 99 percent accuracy, identify anyone based on just one snapshot of their face. The app could supposedly scan a face and, in just seconds, surface every detail of a person’s online life: their name, social media profiles, friends and family members, home address, and photos that they might not have even known existed. If it was everything it claimed to be, it would be the ultimate surveillance tool, and it would open the door to everything from stalking to totalitarian state control. Could it be true? In this riveting account, Hill tracks the improbable rise of Clearview AI, helmed by Hoan Ton-That, an Australian computer engineer, and Richard Schwartz, a former Rudy Giuliani advisor, and its astounding collection of billions of faces from the internet. The company was boosted by a cast of controversial characters, including conservative provocateur Charles C. Johnso