New Books in Economic and Business History

China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country's rise without leading to its wholesale assimilation to global neoliberalism. This book uncovers the fierce contest about economic reforms that shaped China's path. In the first post-Mao decade, China's reformers were sharply divided. They agreed that China had to reform its economic system and move toward more marketization - but struggled over how to go about it. Should China destroy the core of the socialist system through shock therapy, or should it use the institutions of the planned economy as market creators?With hindsight, the historical record proves the high stakes behind the question: China embarked on an economic expansion commonly described as unprecedented in scope and pace, whereas Russia's economy collapsed under shock therapy. Based on extensive research, including interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, How China Escaped Shock Therapy: The Market Reform Debate (Routledge, 2021) charts the debate that ultimately enabled China to follow a path to gradual reindustrialization. Beyond shedding light on the crossroads of the 1980s, it reveals the intellectual foundations of state-market relations in reform-era China through a longue durée lens.Isabella M. Weber is a political economist working on China, global trade and the history of economic thought. She is an Assistant Professor of Economics at the University of Massachusetts Amherst and the Research Leader for China at the Political Economy Research Institute.Host 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 own research focuses on China’s political economy and governance. Learn more about your ad choices. Visit megaphone.fm/adchoices

A Sea of Wealth: The Omani Empire and the Making of an Oceanic Marketplace (U California Press, 2025) is a sweeping retelling of the Omani position in the Indian Ocean. Here the reign of Oman’s longest-serving ruler, Saʿid bin Sultan, offers a keyhole through which we can peer to see the entangled histories of Arabia and the Gulf, South Asia, and East Africa in the Omani Empire. In centering this empire, Nicholas P. Roberts shows how Arabs, Africans, and Asians actively shaped the conditions of commercial engagement in the Western Indian Ocean, uniting the empire’s domains into a single oceanic marketplace in which Europeans and Americans had to accede if they wished to succeed. Drawing upon sources in three languages from four continents, A Sea of Wealth is a vivid narrative full of colorful characters that upturns many conventional understandings of our modern world. Nicholas P. Roberts was formerly Assistant Professor of History at Norwich University and the Howell Fellow for Arabian Peninsula and Gulf Studies at the University of Virginia. He is currently earning a JD at Case Western Reserve University. Ahmed Yaqouob AlMaazmi is an Assistant Professor of History at the United Arab Emirates University, with interests in the intersections of empire, science, slavery, law, environmental infrastructures, and material culture in the Arabian Peninsula and the wider Indian Ocean world. Learn more about your ad choices. Visit megaphone.fm/adchoices

Charly Coleman's latest book, The Spirit of French Capitalism: Economic Theology in the Age of Enlightenment (Stanford University Press, 2021) is at once a history of ideas, the economy, religion, and material culture. Pursuing the imbrication of the economy and theology with respect to both worldly and spiritual value and wealth, the book explores the emergence and development of a specifically Catholic ethic of capitalism particular to the French context in the century and more leading up to the French Revolution.In its six chapters, the book examines the Eucharist, John Law's system, speculation and debt, usury, consumption, luxury, and more. By the time this reader reached the epilogue, it became clear that The Spirit of French Capitalism is both a history of the Age of Enlightenment and a genealogy/prehistory of the commodity fetishism elaborated by Marx and Marxist thinkers from the nineteenth century to the present. Faith in infinite wealth creation, obsessive consumption, pleasure, abundance, and enchantment are as much a part of the history of capitalism as scarcity, regulation, and restraint. Provocative and complicated, the book will be of great interest scholars and students of the histories of the early modern economy, religion, and the state in France and elsewhere, as well as the history of capitalism more broadly.Roxanne Panchasi is an Associate Professor of History at Simon Fraser University in Vancouver, Canada who specializes in twentieth and twenty-first century France and its empire. If you have a recent title to suggest for the podcast, please send her an email (panchasi@sfu.ca). Learn more about your ad choices. Visit megaphone.fm/adchoices

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

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

In his book, Money, Value, and the State: Sovereignty and Citizenship in East Africa (Cambridge University Press, 2024), Kevin Donovan argues that East African decolonization was not coterminous with political sovereignty but rather consisted of a longer process of reorganizing how value was legitimately defined, produced, and distributed. It is an analysis of how postcolonial states tried to remake economic temporalities, space, and standards and how citizens pursued alternatives that subverted economic sovereignty. This is a story of central banking, national currencies, and coffee smuggling, as well as rites of initiation and econometric modelling. An article from the project -- on coffee smuggling, kinship relations, and measurement devices -- was published in Cultural Anthropology, and one on economic crimes, scarcity, and accusation was published in Journal of African History. Kevin Donovan is an anthropologist and historian of East Africa. He works in the fields of economic and political anthropology, African history, and science & technology studies at the University of Edinburgh as a Senior Lecturer. Sara Katz has a Ph.D. in African History from the University of Michigan, and is currently a Project Manager in the Office of Global Affairs at the University of Washington, Seattle. Learn more about your ad choices. Visit megaphone.fm/adchoices

Harvests of Liberation offers a critical reinterpretation of Egypt’s path to decolonization through the lens of its most important export crop: cotton. In this richly detailed and methodologically innovative work, historian Ahmad Shokr shifts the focus from nationalist rhetoric and elite politics to the material infrastructures, commodity chains, and agrarian reforms that underpinned Egypt’s transformation from colonial dependency to postcolonial developmental state. Spanning the early twentieth century through the era of Gamal Abdel Nasser, the book traces how the cotton economy structured both imperial domination and national aspirations. Shokr examines how British colonial rule fostered monopolistic, extractive economic arrangements—what he terms “concessionary accumulation”—that privileged landlords, foreign financiers, and global markets. In response, Egyptian intellectuals, technocrats, and reformers came to see the rural economy not as peripheral but as central to national liberation. As economic crises—such as the Great Depression and World War II—disrupted global trade and weakened elite power, Egypt’s nationalist vision shifted. The 1952 revolution ushered in a new model of “governmental accumulation,” where state-led institutions—agricultural cooperatives, land reforms, and price controls—sought to discipline markets and integrate the peasantry into a centralized vision of industrial growth and sovereignty. By weaving together political economy, environmental history, and postcolonial studies, Harvests of Liberation challenges conventional narratives of Egyptian independence. Shokr reveals how cotton’s journey from Nile Valley fields to global markets was not just a story of economic change but one of contested meanings: about freedom, labor, and the power of the state. Essential reading for scholars of the Middle East, global capitalism, and decolonization, this book radically rethinks how empires end—and how modern nations are built. Learn more about your ad choices. Visit megaphone.fm/adchoices

In The Seventh Member State: Algeria, France, and the European Community (Harvard University Press, 2022), Dr. Megan Brown details the surprising story of how Algeria joined and then left the postwar European Economic Community and what its past inclusion means for extracontinental membership in today’s European Union.On their face, the mid-1950s negotiations over European integration were aimed at securing unity in order to prevent violent conflict and boost economies emerging from the disaster of World War II. But French diplomats had other motives, too. From Africa to Southeast Asia, France’s empire was unraveling. France insisted that Algeria—the crown jewel of the empire and home to a nationalist movement then pleading its case to the United Nations—be included in the Treaty of Rome, which established the European Economic Community. The French hoped that Algeria’s involvement in the EEC would quell colonial unrest and confirm international agreement that Algeria was indeed French.French authorities harnessed Algeria’s legal status as an official département within the empire to claim that European trade regulations and labor rights should traverse the Mediterranean. Belgium, Italy, Luxembourg, the Netherlands, and West Germany conceded in order to move forward with the treaty, and Algeria entered a rights regime that allowed free movement of labor and guaranteed security for the families of migrant workers. Even after independence in 1962, Algeria remained part of the community, although its ongoing inclusion was a matter of debate. Still, Algeria’s membership continued until 1976, when a formal treaty removed it from the European community.In this book, Dr. Brown combats understandings of Europe’s “natural” borders by emphasizing the extracontinental contours of the early union. The unification vision was never spatially limited, suggesting that contemporary arguments for geographic boundaries excluding Turkey and areas of Eastern Europe from the European Union must be seen as ahistorical.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

Shaping the Blue Dragon: Maritime China in the Ming and Qing Dynasties (Liverpool UP, 2024) offers a vivid look at China's dynamic and longstanding relationship with the sea. Through the lives of pirates, maritime advisors, cartographers, admirals, writers, and travelers, Ronald C. Po brings maritime China to life — revealing a world far more connected and sea-orientated than often assumed. Richly detailed and captivating, Shaping the Blue Dragon should interest those in Chinese history, East Asian history, and the maritime world. But this is also a book for anyone who loves great stories. Packed with figures from a pirate king ruling the South China Seas to a gentry son-turned-traveler shipwrecked on his voyage to Southeast Asia, Shaping the Blue Dragon is a compelling blend of narrative and analysis. During our conversation we also talked about Po's first book, The Blue Frontier: Maritime Vision and Power in the Qing Empire (Cambridge UP, 2018) (a must-read!). Listeners who want to know more about this book in particular should also check out the episode about the book The Chinese History Podcast Learn more about your ad choices. Visit megaphone.fm/adchoices

In An Urban History of China (Cambridge UP, 2021), Toby Lincoln offers the first history of Chinese cities from their origins to the present. Despite being an agricultural society for thousands of years, China had an imperial urban civilization. Over the last century, this urban civilization has been transformed into the world's largest modern urban society. Throughout their long history, Chinese cities have been shaped by interactions with those around the world, and the story of urban China is a crucial part of the history of how the world has become an urban society. Exploring the global connections of Chinese cities, the urban system, urban governance, and daily life alongside introductions to major historical debates and extracts from primary sources, this is essential reading for all those interested in China and in urban history. Learn more about your ad choices. Visit megaphone.fm/adchoices