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

Everything we do today is recorded as data that’s sold to the highest bidder. Plugging our personal data into impersonal algorithms has made government agencies more efficient and tech companies more profitable. But all this comes at a price. It’s easy to feel like an insignificant number in a world of number crunchers who care more about their bottom line than your humanity. It’s time to flip the equation, turning math into an empowering tool for the rest of us. In Robin Hood Math: Take Control of the Algorithms That Run Your Life (Penguin, 2025), award-winning mathematician Noah Giansiracusa explains how the tech giants and financial institutions use formulas to get ahead—and how anyone can use these same formulas in their everyday life. You’ll learn how to handle risk rationally, make better investments, take control of your social media, and reclaim agency over the decisions you make each day. In a society that all too often takes from the poor and gives to the rich, math can be a vital democratizing force. Robin Hood Math helps you to think for yourself, act in your own best interests, and thrive. Noah Giansiracusa is an Associate Professor of Mathematics at Bentley University, Visiting Scholar at Harvard University, and the author of How Algorithms Create and Prevent Fake News. His writing has appeared in Scientific American, TIME, WIRED, Slate, and the Washington Post, among others, and he has been featured as a guest on CNN, BBC Radio 4, and Newsmax. Giansiracusa lives in Acton, Massachusetts, with his wife, two kids, two dogs, and 12 chickens. 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

In Mirages of Reform: The Politics of Elite Protectionism in the Arab World (Cornell UP, 2025), Steve L. Monroe argues that geopolitics and social connections between state and capital underpin the Arab world's uneven trade policies. Despite decades of international pressure, neoliberal trade policy reform in the Arab world has been varied, selective, and often ineffective. Neoliberal trade policies have not deepened international trade in many of the region's markets. This book explains why. When the region's regimes have strong support from global powers and strong social connections to the industrial elite, they engage in extensive but deceptive trade policy reform. Behind an edifice of neoliberal trade policies, neopatrimonial forms of protectionism like tax evasion and noncompetitive procurement shield the socially connected from international competition and obstruct actual trade liberalization. Industrialists are less trustful of regime promises of neopatrimonial protectionism after reform when they have weak social connections to their regime and their regime has low support from global powers. They are more likely to defend existing protectionist policies under these conditions, resulting in less trade policy reform. Drawing on interviews, firm- and industry-level data, and evidence from Jordan to Morocco, Mirages of Reform reveals how international and domestic factors interact to shape the Arab world's rugged trade policy terrain. Insightful and well researched, this book imparts important lessons and warnings about the repercussions of economic reform in the region. Steve L. Monroe is Assistant Professor of Political Science at the National University of Singapore. He is a scholar of development, with a primary focus on the Arab world. Monroe's scholarship examines two of the region's most pressing developmental challenges: limited economic integration, and gender inequality. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Capitalism is typically treated as a force for relentless commodification. Yet it consistently fails to place value on vital aspects of the nonhuman world, whether carbon emissions or entire ecosystems. In Free Gifts, Alyssa Battistoni explores capitalism’s persistent failure to value nature, arguing that the key question is not the moral issue of why some kinds of nature shouldn’t be commodified, but the economic puzzle of why they haven’t been. To understand contemporary ecological problems from biodiversity collapse to climate change, she contends, we have to understand how some things come to have value under capitalism—and how others do not. To help us do so, Battistoni recovers and reinterprets the idea of the free gift of nature used by classical economic thinkers to describe what we gratuitously obtain from the natural world, and builds on Karl Marx’s critique of political economy to show how capitalism fundamentally treats nature as free for the taking. This novel theory of capitalism’s relationship to nature not only helps us understand contemporary ecological breakdown, but also casts capitalism’s own core dynamics in a new light.Battistoni addresses four different instances of the free gift in political economic thought, each in a specific domain: natural agents in industry, pollution in the environment, reproductive labor in the household, and natural capital in the biosphere. In so doing, she offers new readings of major twentieth-century thinkers, including Friedrich Hayek, Simone de Beauvoir, Garrett Hardin, Silvia Federici, and Ronald Coase. Ultimately, she offers a novel account of freedom for our ecologically troubled present, developing a materialist existentialism to argue that capitalism limits our ability to be responsible for our relationships to the natural world, and imagining how we might live freely while valuing nature’s gifts. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Hitler, Stalin, and Mao ruled through violence, fear, and ideology. But in recent decades a new breed of media-savvy strongmen has been redesigning authoritarian rule for a more sophisticated, globally connected world. In place of overt, mass repression, rulers such as Vladimir Putin, Recep Tayyip Erdogan, and Viktor Orbán control their citizens by distorting information and simulating democratic procedures. Like spin doctors in democracies, they spin the news to engineer support. Uncovering this new brand of authoritarianism, Sergei Guriev and Daniel Treisman explain the rise of such “spin dictators,” describing how they emerge and operate, the new threats they pose, and how democracies should respond. Spin Dictators traces how leaders such as Singapore’s Lee Kuan Yew and Peru’s Alberto Fujimori pioneered less violent, more covert, and more effective methods of monopolizing power. They cultivated an image of competence, concealed censorship, and used democratic institutions to undermine democracy, all while increasing international engagement for financial and reputational benefits. The book reveals why most of today’s authoritarians are spin dictators—and how they differ from the remaining “fear dictators” such as Kim Jong-un and Bashar al-Assad. Spin Dictators: The Changing Face of Tyranny in the 21st Century (Princeton UP, 2022) is aimed at a general audience, synthesizing a vast amount of qualitative and quantitative research by the authors and many other scholars. The book is highly readable, with a great mix of anecdotes and examples along with plain-English explanations of academic research findings. However, it also provides an excellent overview of contemporary global authoritarianism for academics. Almost every claim in the book has an endnote reference to the original research for those who want to follow up. The endnotes mean that despite its moderately intimidating 340-page heft, the main text is a very approachable 219 pages. Daniel Treisman is a professor of political science at the University of California, Los Angeles and a research associate of the National Bureau of Economic Research. His research focuses on Russian politics and economics as well as comparative political economy, including in particular the analysis of democratization, the politics of authoritarian states, political decentralization, and corruption. In 2021-22, he was a visiting fellow at Stanford University’s Center for Advanced Study in the Behavioral Sciences and he was recently named a 2022 Andrew Carnegie Fellow. A graduate of Oxford University (B.A. Hons.) and Harvard University (Ph.D. 1995), he has published five books and numerous articles in leading political science and economics journals including The American Political Science Review and The American Economic Review, as well as in public affairs journals such as Foreign Affairs and Foreign Policy. He has also served as a consultant for the World Bank, the European Bank for Reconstruction and Development, and USAID. In Russia, he has been a member of the International Advisory Committee of the Higher School of Economics and a member of the Jury of the National Prize in Applied Economics Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco, where he leads a new Master's program in Applied Economics focused on the digital economy. His research focuses on the political economy and governance of China. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The rise and fall of William J. Levitt, the man who made the suburban house a mass commodity. Two material artifacts defined the middle-class American lifestyle in the mid-twentieth century: the automobile, which brought gas stations, highways, commercial strips, and sprawl; and the single-family suburban home, the repository of many families’ long-term wealth. While the man who did the most to make the automobile a mass commodity—Henry Ford—is well known, few know the story of the man who did the same for the suburban house. Edward Berenson describes the remarkable career of William Levitt, who did more than anyone else to create the modern suburb. In response to an unprecedented housing shortage as veterans returned home from World War II, his Levittown developments provided inexpensive mass-produced housing that was wildly popular—prospective buyers would camp out in line for two days for the chance to put down a deposit on a Levitt house. He was a celebrity, a life-changing hero to tens of thousands, and the pitchman of a renewed American Dream. But Levitt also shared Ford’s dark side. He refused to allow Black people to buy or rent in his developments and doggedly defended this practice against legal challenges. Leading the way for other developers who emulated his actions, he helped ensure that suburbs nationwide remained white enclaves. These legacies are still with us. Levitt made a major contribution to the stubborn wealth disparity between white families and Black families, and his solution to the housing crisis of the 1940s—the detached house and surrounding yard—is a primary cause of the housing crisis today. As a person, Levitt was a strangely guileless and tragic figure. He accumulated vast wealth but, after losing control of his building company, surrendered it all through foolish investments and a lavish lifestyle that included a Long Island mansion and a two-hundred-foot yacht. Just weeks before his death, as a charity patient in a hospital to which he had once given millions, he was still imagining his great comeback. Edward Berenson is a professor of history at New York University and director of its Institute of French Studies. His books include Europe in the Modern World, The Statue of Liberty: A Transatlantic Story, and The Accusation. He lives in Tarrytown, NY. 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 have the power to change the world through the products we buy. This simple premise has driven the growth of the conscious consumer movement for decades. Indeed, what started with a handful of niche sustainability brands has exploded into the mainstream with labels like Organic, Non-GMO, and Fair Trade Certified now adorning products in major retailers across the country. Yet the true promise of ethical sourcing and conscious consumerism has not been fully realized. Paul Rice has dedicated his career to helping consumers and businesses embrace the power they have to protect the environment and improve the lives of farmers and workers on the far side of our global supply chains.In Every Purchase Matters, Mr. Rice reveals the untold story of the Fair Trade movement and its significance for us all. Calling on the close relationships he cultivated over the last forty years with the pioneers of ethical sourcing—CEOs, activists, grassroots farmer leaders, and consumer advocates—Mr. Rice gives voice to the visionaries and practitioners who are making sustainable business the new normal. These protagonists share successes and failures, lessons learned, and their extraordinary impact in communities around the world. Their stories illuminate how sustainability is good not only for people and planet but also for business. Our guest is: Paul Rice, who is the founder of Fair Trade USA and a pioneering figure in the conscious capitalism movement. He is the author of the national bestseller Every Purchase Matters. Audio content correction: Dr. Gessler incorrectly stated that Mr. Rice worked in South America. He worked in Central America. Our host is: Dr. Christina Gessler, who is the producer of the Academic Life podcast, and the author of the show’s Substack newsletter. She is a developmental editor and writing coach for humanities scholars at all stages of their careers. Playlist for listeners: Big Box USA Disabled Ecologies Moments of Impact What Might Be How Girls Achieve The Good Enough Life Welcome to Academic Life, the podcast for your academic journey—and beyond! Join us again to learn from more experts inside and outside the academy, and around the world. Missed any of the 275+ Academic Life episodes? Find them here. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Principles of Bitcoin presents a holistic, first-principles-based framework for understanding one of the most misunderstood inventions of our time. By stripping away the hype, jargon, and superficial analysis that often surrounds the crypto industry, this book uncovers the true ingenuity behind Satoshi Nakamoto’s creation—and its profound implications for the future of money, governance, and individual freedom. Vijay Selvam analyzes the technology, economics, politics, and philosophy of Bitcoin, making the case that only through this holistic understanding can we gain an appreciation of its true meaning and significance. Readers are invited to consider Bitcoin as a tool for individual empowerment, a catalyst for economic autonomy, and a challenge to traditional monetary systems. Selvam demonstrates why Bitcoin stands alone in the digital asset space as a path-dependent once-in-history invention that cannot be replicated. Principles of Bitcoin is an invaluable resource for professionals in the financial world seeking a rigorous and accessible understanding of Bitcoin. Students, curious thinkers, and all who find the technology daunting will also benefit from its clear, foundational approach. Equipping readers with the tools to grasp the many facets of Bitcoin, this book is an ideal guide to exploring its role in shaping a more decentralized, transparent, and equitable future. Vijay Selvam is a corporate lawyer and financial services expert with nearly twenty years of experience across the United States, United Kingdom, and Asia. He spent more than a decade at Goldman Sachs and has also held leadership roles in the digital assets industry, advising on the evolving regulatory landscape. Selvam is a graduate of Harvard Law School, Oxford University, and Cardiff University. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In this episode, we are joined by Dr Yasmin Ortiga, Associate Professor of Sociology at Singapore Management University, to speak to us about her latest book, Stuck at Home: Pandemic Immobilities in the Nation of Emigration, published by Stanford University Press. Yasmin is mainly interested in how changing ideas about desirable “skill” shape where and why people migrate. This question has led her to study different groups of migrants - from international students to farm workers. She is best known for her research on migrant nurses, one of the most highly regulated professions in the world. She is the author of Emigration, Employability, and Higher Education in the Philippines (2018). Her latest book, Stuck at Home, is a little different in that Yasmin is now focused on the question of how do people NOT move. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Better Innovations, to talk about Taiwan as a home for migrant workers, and decent work in supply chains. After a brief overview of key risks in this area, we touched upon Taiwan’s major legislation to date in a global context, and addressed the importance of economic diplomacy for Taiwan – being seen as a responsible global actor in business and human rights. Drawing on our guest’s experience as a practitioner, we then explored how Taiwanese suppliers see their role as leaders in improving labour standards. Countering stereotypical associations between businesses and human rights abuses, we investigated the possibilities, limitations and responsibilities that firms perceive for themselves in transitioning to a fairer model of labour recruitment and protection, as well as the role of the 2020 National Action Plan in setting this transition in motion. Finally, we used a regional (Asian) framework of reference to discuss the need for Taiwan’s government to provide clear guidelines that could help Taiwanese companies bridge the knowledge gap between existing local legal frameworks and international human rights standards. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The pursuit of wealth is considered an essential function of human nature, and greed is an unspoken civic virtue. Many of us revere billionaires and Wall Street rain-makers, then complain about “the system” being rigged, and wonder why the country doesn’t seem to work for the little guy anymore. Some blame the Deep State for income inequality and corruption, and others blame capitalism, but the truth is that these issues have much deeper roots: our devotion to money is a manmade invention that has transformed over thousands of years to replace religion as the foundation of our society, and it is tearing civilization apart. In The Almightier, journalist Paul Vigna uncovers the forgotten history of money, tracing the uneasy and often accidental alliance between wealth and religion as it developed from ancient city-states to today’s secular world, where religious devotion has receded and greed has stepped in to fill the void. Through engaging anecdotes, original research, and fresh perspectives on the causes of the many challenges we face today, Vigna makes a compelling argument that money has no power apart from the power we give it. Paul Vigna is an author, journalist, editor and speaker, with a particular focus on capital markets and cryptocurrencies. He is the author of Guts: The Anatomy of The Walking Dead and coauthor of The Age of Cryptocurrency and The Truth Machine. For 25 years, he was a reporter and editor for Dow Jones Newswires and the Wall Street Journal, pioneering coverage of the cryptocurrency sector. He has appeared on CNN, CNBC, MSNBC, Fox, and PBS. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Few topics have as many myths, stereotypes, and misperceptions surrounding them as that of poverty in America. The poor have been badly misunderstood since the beginnings of the country, with the rhetoric only ratcheting up in recent times. Our current era of fake news, alternative facts, and media partisanship has led to a breeding ground for all types of myths and misinformation to gain traction and legitimacy. Poorly Understood: What America Gets Wrong about Poverty (Oxford UP, 2021) is the first book to systematically address and confront many of the most widespread myths pertaining to poverty. Mark Robert Rank, Lawrence M. Eppard, and Heather E. Bullock powerfully demonstrate that the realities of poverty are much different than the myths; indeed in many ways they are more disturbing. The idealized image of American society is one of abundant opportunities, with hard work being rewarded by economic prosperity. But what if this picture is wrong? What if poverty is an experience that touches the majority of Americans? What if hard work does not necessarily lead to economic well-being? What if the reasons for poverty are largely beyond the control of individuals? And if all of the evidence necessary to disprove these myths has been readily available for years, why do they remain so stubbornly pervasive? These are much more disturbing realities to consider because they call into question the very core of America's identity. Armed with the latest research, Poorly Understood not only challenges the myths of poverty and inequality, but it explains why these myths continue to exist, providing an innovative blueprint for how the nation can move forward to effectively alleviate American poverty. Stephen Pimpare is director of the Public Service & Nonprofit Leadership program and Faculty Fellow at the Carsey School of Public Policy at the University of New Hampshire. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Mao and Markets: The Communist Roots of Chinese Enterprise (Yale University Press, 2022) by Dr. Christopher Marquis & Dr. Kunyuan Qiao presents a thoroughly researched assessment of how China’s economic success continues to be shaped by the communist ideology of Chairman Mao It was long assumed that as China embraced open markets and private enterprise, its state-controlled economy would fall by the wayside, that free markets would inevitably lead to a more liberal society. Instead, China’s growth over the past four decades has positioned state capitalism as a durable foil to the orthodoxy of free markets, to the confusion of many in the West. Christopher Marquis and Kunyuan Qiao argue that China’s economic success is based on—not in spite of—the continuing influence of Communist leader Mao Zedong. They illustrate how Mao’s ideological principles, mass campaigns, and socialist institutions have enduringly influenced Chinese entrepreneurs’ business strategies and the management of their ventures. Grounded in case studies and quantitative analyses, this book shows that while private enterprise is the engine of China’s growth, Chinese companies see no contradictions between commercial drive and a dedication to Maoist ideology. This interview was conducted by Dr. Miranda Melcher whose doctoral work focused on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Apostles of Development: Six Economists and the World They Made (Oxford University Press and Penguin RandomHouse South Asia, 2025) by Dr. David Engerman recounts the work of six individuals, all former classmates at Cambridge University, who helped make international development--the effort to reduce poverty and inequality around the world--into a juggernaut of the second half of the twentieth century. International development employed millions, affected billions, and spent trillions; it held the hopes of the former colonies to create an economic independence to match their newfound political one, and the plans of wealthy counties to build an enduring economic order.The six Apostles in this book include some of South Asia's best-known names, like Nobel Laureate Amartya Sen and long-serving Indian Prime Minister Manmohan Singh, as well as leading academics (Jagdish Bhagwati) and key policy-makers in both national and international circles. Taken together, this group both reflected and shaped the growing enterprise of international development from the time they left Cambridge in the mid-1950s well into the 2010s.For many years, the second half of the twentieth century was understood primarily through the lens of the Cold War. And yet, for the majority of the world, living in what was then called the Third World (and which is now called the Global South), development was a constant, while American-Soviet geopolitics only occasionally impinged upon their lives. And these six, as much as any other group, changed the way economists theorized development and aid officials practiced it. Their biographies, then, are the history of development.Based on newly available archival documents from 10 countries, and on interviews with four of the subjects, the widows of the other two, and almost 100 of their colleagues, friends, classmates, and rivals, this book combines riveting personal accounts with a sweeping history of one of the enduring human activities of the late 20th century and early 21st centuries: creating a more prosperous and equitable 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 Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Central bank cooperation during global financial crises has been anything but consistent. While some crises are arrested with extensive cooperation, others are left to spiral. Going beyond explanations based on state power, interests, or resources, in Bankers' Trust: How Social Relations Avert Global Financial Collapse (Cornell University Press, 2025) Dr. Aditi Sahasrabuddhe argues that central bank cooperation—or the lack thereof—often boils down to ties of trust, familiarity, and goodwill between bank leaders. These personal relations influence the likelihood of access to ad hoc, bilateral arrangements with more favorable terms. Drawing on archival evidence and elite interviews, Sahasrabuddhe uncovers just how critical interpersonal trust between central bankers has been in managing global financial crises. She tracks the emergence of such relationships in the interwar 1920s, how they helped prop up the Bretton Woods system in the 1960s, and how they prevented the 2008 global financial crisis from turning into another Great Depression. When traditional signals of credibility fell short during these periods of crisis and uncertainty, established ties of trust between central bank leaders mediated risk calculations, alleviated concerns, and helped innovate less costly solutions. Dr. Sahasrabuddhe challenges the idea that central banking is purely apolitical and technocratic. She pinpoints the unique transnational power central bank leaders hold as unelected figures who nonetheless play key roles in managing states' economies. By calling attention to the influence personal relationships can have on whether countries sink or swim during crises, Bankers' Trust asks us to reconsider the transparency and democratic accountability of global financial governance today. 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

For decades, Democratic politicians have frustrated progressives by tinkering around the margins of policy while shying away from truly ambitious change. What happened to bold political vision on the left, and what shrunk the very horizons of possibility? In Thinking like an Economist, Elizabeth Popp Berman tells the story of how a distinctive way of thinking—an “economic style of reasoning”—became dominant in Washington between the 1960s and the 1980s and how it continues to dramatically narrow debates over public policy today. Introduced by liberal technocrats who hoped to improve government, this way of thinking was grounded in economics but also transformed law and policy. At its core was an economic understanding of efficiency, and its advocates often found themselves allied with Republicans and in conflict with liberal Democrats who argued for rights, equality, and limits on corporate power. By the Carter administration, economic reasoning had spread throughout government policy and laws affecting poverty, healthcare, antitrust, transportation, and the environment. Fearing waste and overspending, liberals reined in their ambitions for decades to come, even as Reagan and his Republican successors argued for economic efficiency only when it helped their own goals.A compelling account that illuminates what brought American politics to its current state, Thinking like an Economist also offers critical lessons for the future. With the political left resurgent today, Democrats seem poised to break with the past—but doing so will require abandoning the shibboleth of economic efficiency and successfully advocating new ways of thinking about policy. Elizabeth Popp Berman is Director and Richard H. Price Professor of Organizational Studies at the University of Michigan and the author of Creating the Market University: How Academic Science Became an Economic Engine (Princeton). 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. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Billionaires are an ultra-elite social class whose numbers are growing alongside their obscene wealth while others struggle, suffer or even die. They represent a scourge of economic inequality, but how do they get away with it? A set of dangerous and deceptive inter-connected myths portrays them as a ‘force for good’: -the ‘heroic billionaire’ asserts they are gallant protagonists of the American Dream gone global -the ‘generous billionaire’ pretends that their philanthropic efforts and personal good deeds should be lauded for generosity and benevolence -the ‘meritorious billionaire’ insists that extreme wealth is a worthy reward for individual hard work and talent -the ‘vigilante billionaire’ claims to be able to solve the world’s biggest problems where bureaucrats and politicians have failed. Each of these myths enables billionaire wealth and power to set us back to old-style feudalism and plutocracy. Offering a trenchant critique, Stinking Rich: The Four Myths of the Good Billionaire (Policy Press, 2025)testifies to the growing international political will to take concrete actions in supporting economic justice and democratic equality. Carl Rhodes is Professor of Organization Studies at the University of Technology Sydney. He researches the ethical and democratic dimensions of business and work. Carl regularly writes for the mainstream and independent press on issues related to ethics, politics and the economy. 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. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Karl Marx in America (University of Chicago Press, 2025), by Andrew Hartman To read Karl Marx is to contemplate a world created by capitalism. People have long viewed the United States as the quintessential anti-Marxist nation, but Marx’s ideas have inspired a wide range of people to formulate a more precise sense of the stakes of the American project. Historians have highlighted the imprint made on the United States by Enlightenment thinkers such as Adam Smith, John Locke, and Thomas Paine, but Marx is rarely considered alongside these figures. Yet his ideas are the most relevant today because of capitalism’s centrality to American life.In  historian Andrew Hartman argues that even though Karl Marx never visited America, the country has been infused, shaped, and transformed by him. Since the beginning of the Civil War, Marx has been a specter in the American machine. During the Gilded Age, socialists read Marx as an antidote to the unchecked power of corporations. In the Great Depression, communists turned to Marx in hopes of transcending the destructive capitalist economy. The young activists of the 1960s were inspired by Marx as they gathered to protest an overseas war. Marx’s influence today is evident, too, as Americans have become increasingly attuned to issues of inequality, labor, and power.After decades of being pushed to the far-left corner of intellectual thought, Marx’s ideologies have crossed over into the mainstream and are more alive than ever. Working-class consciousness is on the rise, and, as Marx argued, the future of a capitalist society rests in the hands of the people who work at the point of production. A valuable resource for anyone interested in Marx’s influence on American political discourse, Karl Marx in America is a thought-provoking account of the past, present, and future of his philosophies in American society. Andrew Hartman is professor of history at Illinois State University. He is the author of A War for the Soul of America: A History of the Culture Wars, published by the University of Chicago Press, and Education and the Cold War: The Battle for the American School. He is also the coeditor of American Labyrinth: Intellectual History for Complicated Times. 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: https://www.youtube.com/user/a48266/videos Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics