New Books in Economic and Business History

From 1907 to 1967, a network of reservoirs and aqueducts was built across more than one million acres in upstate New York, including Greene, Delaware, Sullivan, and Ulster Counties. This feat of engineering served to meet New York City’s ever-increasing need for water, sustaining its inhabitants and cementing it as a center of industry. West of the Hudson, it meant that twenty-six villages, with their farms, forest lands, orchards, and quarries, were bought for a fraction of their value, demolished, and submerged, profoundly altering ecosystems in ways we will never fully appreciate. This paradox of victory and loss is at the heart of Nineteen Reservoirs: On Their Creation and the Promise of Water for New York City (The Experiment, 2022) Lucy Sante’s meticulous account of how New York City secured its seemingly limitless fresh water supply, and why it cannot be taken for granted. In inimitable form, Sante plumbs the historical record to surface forgotten archives, bringing lost places back to life on the page. Her immaculately calibrated sensitivity honors both perspectives on New York City’s reservoir system and helps us understand the full import of its creation. An essential history of the New York City region that will reverberate far beyond it, Nineteen Reservoirs examines universal divisions in our resources and priorities—between urban and rural, rich and poor, human needs and animal habitats. This is an unmissable account of triumph, tragedy, and unintended consequences. 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

Moorings: Voyages of Capital across the Indian Ocean (U of California Press, 2025) follows sailors from the Gulf of Kachchh in India as they voyage across the Indian Ocean on mechanized wooden sailing vessels known as vahans, or dhows. These voyages produce capital through moorings that are spatial, moral, material, and conceptual. With a view from the dhow, the book examines the social worlds of Muslim seafarers who have been rendered invisible even as they maneuver multiple regulatory regimes and the exigencies of life, navigating colonialism, neoliberalism, the rise of Hindutva, insurgency, climate change, and border regimes across the ocean. Based on historical and ethnographic research aboard ships, at ports, and in religious shrines and homes, Moorings shows how capitalism derives value from historically sedimented practices grounded in caste, gender, and transregional community-based forms of regulation. Nidhi Mahajan is Associate Professor in the Department of Anthropology at the University of California, Santa Cruz. Reighan Gillam is Associate Professor in the Department of Latin American, Latino, and Caribbean Studies at Dartmouth College. Her research examines the ways in which Afro-Brazilian media producers foment anti-racist visual politics through their image creation. She is the author of Visualizing Black Lives: Ownership and Control in Afro-Brazilian Media (University of Illinois Press). Learn more about your ad choices. Visit megaphone.fm/adchoices

Crusading for Globalization: US Multinationals and Their Opponents Since 1945 (University of Pennsylvania Press, 2025) tells the story of an extraordinarily influential group of business executives at the helms of the largest US multinational corporations and their quest to drive globalization forward over the last eight decades. Janick Marina Schaufelbuehl argues that the spectacular expansion of international investment, trade, and production after 1945 cannot be understood without considering the role played by these corporate globalizers and the organization they created, the US Council (today’s United States Council for International Business). By shaping governmental policy through their congressional lobbying and close connections to successive presidential administrations, US Council members, including executives from General Electric, Coca Cola, and IBM, among others, consistently fought for ever more market deregulation, culminating in the creation of the World Trade Organization in 1995. Crusading for Globalization is also a book about those who opposed the growing might of multinationals. In the years immediately after World War II, resistance came from business protectionists, before labor and policymakers from the Global South joined the effort in the early 1970s. Schaufelbuehl breaks new ground by offering a panorama of this early anti-globalization movement, and by showing how the leaders of multinationals organized to limit its political influence. She also examines continuities between this early movement and the opposition to globalization that emerged at the beginning of the twenty-first century from the left and the populist right and discusses how business responded by promoting corporate social responsibility and voluntary guidelines.The first book to shed light on what caused corporate executives to pursue a pro-globalization agenda and to examine their methods for dealing with their opponents, Crusading for Globalization reveals the historical roots of today’s disparities in wealth and income distribution. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Social Railway and Its Workers in Europe’s Modern Era, 1880-2023: Moments of Fury, Ramparts of Hope (Bloomsbury, 2025) by Dr. David Welsh examines the evolution of rail transport and a number of railway workforces across Europe in the modern era, from around 1880 to 2023.Each chapter explores how, within the context of a social railway, rail workers developed distinct national and international perspectives on the nature of their work and their roles in societies and states. Dr. Welsh convincingly argues that workers formed a raft of entirely new and enduring organisations such as trade unions that, in turn, became ramparts of hope. Welsh goes on to consider how the insurgent character of these organisations produced moments of fury during tumultuous periods in the 20th century. The Social Railway and its Workers in Europe's Modern Era, 1880-2023 explores the national and European contexts in which both characteristics came to the fore, including the ecology of fossil fuel technology (coal and oil). Above all, it argues that social, economic and political forces are not simply external 'scene-shifting' but integral to the history of railway systems.The book examines the cultural construction of European railways through literature, art and other forms of writing as well as recent oral history. It also includes a detailed investigation of the role played by nationalisation and public ownership in Europe. In the context of neoliberalism and globalization, it proposes a 21st century programme for the social railway. 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

Jumping Through Hoops: Performing Gender in the 19th Century Circus, by Betsy Golden Kellem, reveals the hidden history of early female circus performers: boundary-breaking women like Lavinia Warren, known as the Queen of Beauty; to Millie-Christine McKoy, the Two-Headed Nightingale; to Patty Astley, the mother of the modern circus. These astounding female and gender-nonconforming artists wrestled snakes, performed magic tricks with electricity, and walked across waterfalls on tightropes, shattering taboos by performing in public. Betsy deftly explores how major forces in the long nineteenth century combined to create the uniquely American spectacle of the traveling circus. During the transformation of the circus from scrappy “mud shows” to a major international business, these extraordinary women challenged contemporary ideas of femininity, creating new possibilities for women far beyond the big top. Our guest is: Betsy Golden Kellem, who is a scholar of the unusual. She has served on the boards of the Barnum Museum and the Circus Historical Society, is the Emmy-winning host and writer of the Showman’s Shorts video series on P.T. Barnum, and writes for JSTOR Daily. An expert media and intellectual property attorney, she has taught at Yale and the University of Connecticut, and regularly speaks on the weirder corners of history and law. Our host is: Dr. Christina Gessler, who is a dissertation and writing coach, and a developmental editor for scholars in the humanities. She is the producer of the Academic Life podcast. Women’s History playlist for listeners: The World She Edited Witchcraft: A History in 13 Trials We Refuse Tomboy Dear Miss Perkins The Lost Journals of Sacajewea The Untold Life of Julia Chinn Smithsonian American Women Share And Share Alike The House on Henry Street Speaking While Female Sophonisba Breckinridge Remembering Lucille Never Caught Welcome to Academic Life, the podcast for your academic journey—and beyond! You can support the show by downloading and sharing episodes. 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. And thank you for listening! Learn more about your ad choices. Visit megaphone.fm/adchoices

Cecil John Rhodes became one of the most influential people in the history of the British Empire. He made a fortune in South Africa by leading the world's most important diamond mining company, De Beers, as well as a gold-mining concern called Consolidated Gold Fields. While he was a busy entrepreneur, he was also a member of the Cape Colony's legislature and served as prime minister from 1890 to 1896, a key period for the development of racial discrimination. His British South Africa Company was given a charter to govern what is today Zambia and Zimbabwe. His most famous legacy is the Rhodes Trust, which funds the Rhodes Scholarships at Oxford University. A complex figure, admired and detested in his own time, Rhodes dreamt to unite Southern Africa's colonies and republics into one state, dominated by white settlers, with labor provided by Black people who were constrained and pressured by discriminatory laws. He built his wealth on the backs of African migrant laborers, for whom he had little regard. His British South Africa Company was accused of fraud. And in 1895 and 1896, he famously encouraged a failed plot to overthrow the independent Boer republic in the Transvaal. Rhodes' coup helped to precipitate the South African War, which started in 1899 and ended in 1902, the year of Rhodes' death. This authoritative biography focuses on the relationship between Rhodes' well-known activities in business and politics and the development of Southern Africa's infrastructure, most famously his plan for a Cape-to-Cairo railway. Rhodes envisioned a region where racism became embedded in the mining, farming, communication, and transportation industries. He pursued this vision in the face of opposition from many quarters. Understanding the extent of Rhodes' activities helps us to understand the challenges of modern Africa and the recent Rhodes Must Fall movement. A critical analysis of this contested figure, The Colonialist: The Vision of Cecil Rhodes (Oxford University Press, 2025) offers an original portrait of a crucial figure of his era. William Kelleher Storey is Professor of History and Dean of Arts and Humanities at Millsaps College. Caleb Zakarin is editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices

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

Eyes by Hand: Prosthetics of Art and Healing (MIT Press, 2025) is a book about artificial eyes—about the artisans and artists who make them, and about the life-changing and sometimes life-saving experience of wearing them, as author Dan Roche has done for 15 years. Eye making is done by hand, for one person at a time, by a very small number of ocularists (fewer than 200 in the US); it is a slow, intricate, and unusually intimate process of molding, fitting, and painting that brings ocularist and patient together for many hours or even days.In Eyes by Hand, Dr. Roche describes the craft that goes into the making of an eye that looks uncannily real, as well as the psychological and emotional healing that such service brings to someone who has suffered the very visible trauma of eye loss—a loss that can go to the heart of self-identity.In an engaging, frankly fascinating fashion, Roche captures the intricacies of a profession whose techniques and culture have been remarkably consistent for 200 years. He explores, too, how that profession may now be facing a digital transformation in the form of scan-print-mail possibilities. Such a change might make prosthetic eyes more easily and cheaply available, though it may also risk the aesthetic qualities and intimate connection fundamental to the process of healing. 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

David McNally's Slavery and Capitalism: A New Marxist History (U California Press, 2025)presents the first systematic Marxist account of the capitalist character of Atlantic slavery. McNally argues that enslaved labour within the plantation system constituted capitalist commodity production, and crucially, reframes the resistance of enslaved people as profound labour struggles. He posits a "social conception of freedom", contrasting it with the liberal individualist view, asserting that for enslaved people, freedom was communal and collective, as no individual could break the structures of slavery alone. The book revives a "forgotten critical Marxist tradition" that consistently upheld the capitalist nature of New World slavery, drawing on three crucial thinkers: C.L.R. James, who argued that the collective labour of enslaved sugar cane workers on Haitian plantations was "closer to a modern proletariat than any group of workers in the world at the time". W.E.B. Du Bois, who described the overthrow of slavery in the U.S. Civil War as a "general strike of the slaves," recognizing their withdrawal of labour as commodity producers. Sylvia Wynter, who referred to this "new world enslaved class" as the "plantation proletariat," seeing them as "the most thoroughly modern social class". At the heart of McNally's analysis is the concept of the "chattel proletariat," which he describes as the "pivot point" of his analysis. This concept challenges the idea that the proletariat must mean "free workers". He demonstrates that enslaved people were economically bonded to capital, much like "free" labourers are bonded by economic necessity, with both forms of labour exploited for surplus value. Contrary to common belief, enslaved workers on Atlantic plantations "regularly used the strike weapon," engaging in collective acts like mass strikes (e.g., Toussaint Louverture's call, Bussa's rebellion, the 1831 Jamaica strikes, and Du Bois's "general strike"). These actions lead McNally to assert they were "among the foremost innovators in mass strikes" and should be recognized as part of the proletariat, necessitating a rewriting of modern labour history. McNally incorporates the insights of Marxist feminists and social reproduction theorists, emphasizing the "life-making" aspect of the chattel proletariat. He highlights that enslaved Black women not only produced commodities but also performed the essential, gendered labour of reproducing human existence. He also stresses the "necessity of theory" in historical analysis, arguing that empirical approaches alone cannot grasp "collective social processes" without a broader theoretical framework of commodity and social relationships. This book represents a significant confrontation with racial capitalism, weaving together McNally's long-standing interests in political economy and anti-racist commitments. Learn more about your ad choices. Visit megaphone.fm/adchoices

Maren A. Ehlers’s Give and Take: Poverty and the Status Order in Early Modern Japan (Harvard University Asia Center, 2018) examines the ways in which ordinary subjects—including many so-called outcastes and other marginalized groups—participated in the administration and regulation of society in Tokugawa Japan. Within this context, the book focuses on self-governing occupation-based and other status groups and explore their roles making Tokugawa Japan tick. The title, Give and Take, is part of Ehlers’s argument about the ways in which their relationship to government was one of reciprocity between ostensibly benevolent rulers and dutybound status groups. Within this, Ehlers evinces a special interest in marginalized groups and in poverty, especially “beggar bosses” and blind guilds. Through a detailed examination of an extraordinary collection of primary sources from the castle town of Ōno (Fukui prefecture), Ehlers uses the case study of approaches to the problems of poverty to enrich our understanding of the complex dynamics of interconnectivity and reciprocity that characterized Japan under Tokugawa rule. Learn more about your ad choices. Visit megaphone.fm/adchoices