New Books in Economic and Business History

Ubiquitous illegal lotteries known as policy flourished in Chicago's Black community during the overlapping waves of the Great Migration. Policy "queens" owned stakes in lucrative operations while women writers and clerks canvased the neighborhood, passed out winnings, and kept the books. In Dream Books and Gamblers: Black Women's Work in Chicago's Policy Game (University of Illinois Press, 2022). Elizabeth Schroeder Schlabach examines the complexities of policy and gender politics in Chicago. Policy provided Black women with a livelihood for themselves and their families. At the same time, navigating gender expectations, aggressive policing, and other hazards of the infromal economy led them to refashion ideas about Black womanhood and respectability. Policy earnings also funded above-board enterprises ranging from neighborhood businesses to philanthropic institutions, and Schlabach delves into the various ways Black women straddled the illegal policy business and reputable community involvement.Vivid and revealing, Dream Books and Gamblers tells the stories of Black women in the underground economy and how they used their work to balance the demands of living and laboring in Black Chicago. Learn more about your ad choices. Visit megaphone.fm/adchoices

Using previously unexplored and meticulously analyzed sources from China and to a lesser extent Japan, combined with those of Germany and the UK, Ghassan Moazzin provides a refreshing look at a number of levels: the workings of multinational banks, international networks of bankers, the interactions of Chinese and German empires with other state actors. In Foreign Banks and Global Finance in Modern China: Banking on the Chinese Frontier, 1870-1919 (Cambridge UP, 2022), Moazzin introduces the novel concept of a "frontier bank" while building a case study around the Deutsch-Asiatische Bank (DAB). He aims to answer questions as to what is the role that individual actors such as the DAB play in early 20th century China?, What technological and business advancements build around multinational banks?, To what extent does our knowledge and understanding of capitalism is enabled by looking at local sources at end of the Chinese empire?Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoices

In the thriving urban economies of late thirteenth-century Catalonia, Jewish and Christian women labored to support their families and their communities. The Fruit of Her Hands: Jewish and Christian Women's Work in Medieval Catalan Cities (Penn State Press, 2022) examines how gender, socioeconomic status, and religious identity shaped how these women lived and worked.Sarah Ifft Decker draws on thousands of notarial contracts as well as legal codes, urban ordinances, and Hebrew responsa literature to explore the lived experiences of Jewish and Christian women in the cities of Barcelona, Girona, and Vic between 1250 and 1350. Relying on an expanded definition of women's work that includes the management of household resources as well as wage labor and artisanal production, this study highlights the crucial contributions women made both to their families and to urban economies. Christian women, Ifft Decker finds, were deeply embedded in urban economic life in ways that challenge traditional dichotomies between women in northern and Mediterranean Europe. And while Jewish women typically played a less active role than their Christian counterparts, Ifft Decker shows how, in moments of communal change and crisis, they could and did assume prominent roles in urban economies.Through its attention to the distinct experiences of Jewish and Christian women, The Fruit of Her Hands advances our understanding of Jewish acculturation in the Iberian Peninsula and the shared experiences of women of different faiths. It will be welcomed by specialists in gender studies and religious studies as well as students and scholars of medieval Iberia.Jana Byars is the Academic Director of Netherlands: International Perspectives on Sexuality and Gender. Learn more about your ad choices. Visit megaphone.fm/adchoices

Why is our society so unequal? Why, despite their small numbers, do the rich dominate policy and politics even in democratic countries? Why is it so difficult for working people to organize around common interests? How do we begin to build a more equal and democratic society?In Confronting Capitalism: How the World Works and How to Change It (Verso, 2022), Vivek Chibber provides a clear and accessible map of how capitalism works, how it limits the power of working and oppressed people, and how to overcome those limits. The capitalist economy generates incredible wealth but also injustice. Those who own the factories, hotels, and farms always have an advantage over the people who rely on that ownership class for their livelihoods. This inequality in power and income is reflected in the operation of the state, where capitalists are able to exert their will even under relatively democratic conditions. The most important reason is that states depend on the employment and profits from capitalist enterprise for both finances and legitimacy. Every meaningful victory for working people has been won through collective struggle but collective action is very difficult to coordinate. In the final section of the book, Chibber walks the reader through some of the historical attempts to build socialism and presents a vision of how we might, perhaps against the odds, build a socialist future.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

A comprehensive and illuminating account of the history of credit in America, The Economy of Promises: Trust, Power & Credit in America (Princeton UP, 2022) by Northwestern University Professor Bruce Carruthers is a far-reaching study of credit in nineteenth- and twentieth-century America. Synthesizing and surveying economic and social history, Bruce Carruthers examines how issues of trust stitched together the modern U.S. economy. In the case of credit, that trust involves a commitment by debtors to repay money they have borrowed from lenders. Each promise poses a fundamental question: why does the lender trust the borrower? The book tracks the dramatic shift from personal qualitative judgments to the impersonal quantitative measurements of credit scores and ratings, which make lending and economic activity on a much greater scale possible. It discusses how lending is shaped by the shadow of failure, and the possibility that borrowers will break their promises and fail to repay their debts. It reveals how credit markets have been shaped by public policy, regulatory changes, and various political factors. Bringing to life the complicated and abstract terrain of human interaction we call the economy, The Economy of Promises is an important study of the tangle of indebtedness that, for better or worse, shapes and defines American lives.Daniel Peris is Senior Vice President at Federated Hermes in Pittsburgh. He can be reached at DanielxPeris@gmail.com or via Twitter @HistoryInvestor. His History and Investing blog and Keep Calm & Carry On Investing podcast are here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Sarah T. Hines's Water for All Community, Property, and Revolution in Modern Bolivia (University of California Press, 2021) chronicles how Bolivians democratized water access, focusing on the Cochabamba region, the country's third largest city and most important agricultural valley. Covering the period from 1879 to 2019, Hines examines the conflict over control of the region's water sources, showing how communities of water users increased supply and extended distribution through collective labor and social struggle. Through analysis of a wide variety of sources from agrarian reform case records to oral history interviews, Hines investigates how water dispossession in the late nineteenth century and reclaimed water access in the twentieth and twenty-first centuries prompted, shaped, and strengthened popular and indigenous social movements. The struggle for democratic control over water culminated in the successful Water War uprising in 2000, a decisive turning point for Bolivian politics. This story offers lessons in contemporary resource management and grassroots movements for how humans can build equitable, democratic, and sustainable resource systems in the Andes, Latin America, and beyond. Water for All is essential reading for Andeanists and scholars of social and environmental movements in the Americas.Elena McGrath is an Assistant Professor of History at Union College Learn more about your ad choices. Visit megaphone.fm/adchoices

This podcast features Brian A. Wong, discussing his new book, The Tao of Alibaba: Inside the Chinese Digital Giant That is Changing the World (Public Affairs, 2022). Brian joined Alibaba early, as its 52nd employee and first American employee, and worked for them for nearly twenty years. His book provides both insider insights and an analytical perspective on how Alibaba grew to become one of the most important companies in the global digital economy. This well-written and engaging book explains Alibaba’s unique organizational culture and how the Alibaba platform has helped spread economic opportunity beyond the elites in China’s big cities to the broader world of small and medium businesses throughout the country.Brian Wong’s Radii China is an independent media platform founded in 2017 dedicated to bridging the East and West by highlighting topics and issues that connect the world’s young, globally-minded citizens. Listeners interested in the development of the US-China relationship are encouraged to participate in the NCUSCR’s CHINA Town Hall, on November 17th, featuring a national webcast by former Ambassador Jon Huntsman Jr. Local partner events around the US, including one at the University of San Francisco, provide opportunities to discuss the topic further in person with other community members and local experts on China. In the interview, we also discuss Benjamin Ho’s book Why Trust Matters, featured on this show last year.Peter Lorentzen is the Chair of the Economics Department at the University of San Francisco, where he leads a new Master's program in Applied Economics focused on the digital economy. His research focus is the political economy of governance in China and he is a member of the National Committee on US-China Relations (NCUSCR) and USF’s new Center on Business Studies and Innovation in the Asia-Pacific. Learn more about your ad choices. Visit megaphone.fm/adchoices

Dr. Ashley Sweetman works in cyber security for a London-based global bank and holds a PhD from the Department of War Studies at King’s College London. While studying for his PhD he spent a short time as Researcher-in-Residence at No. 10 Downing Street while working for The Strand Group in the Policy Institute at King's. Before this, Ashley studied History at Queen Mary, University of London. Ashley is a proud Welshman and was brought up in Neath, South Wales. He currently lives in North London.In his first book Cyber and the City: Securing London's Banks in the Computer Age (Springer, 2022), Sweetman provides evidence that cyber security is a long-lived phenomenon. Banks started to worry about it early in the adoption of computers in the late 1950s. The UK has a particular feature where banks rapidly agree on the measures to be taken, making the overall system more resilient. Sweetman uses a wealth of archival material and introduces de concepts of proportionality and the confidentiality-integrity-availability triumvirate to explain and interconnect the evolution and articulation of security in bank networks. Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoices

How social networks shaped the imperial Chinese state China was the world’s leading superpower for almost two millennia, falling behind only in the last two centuries and now rising to dominance again. What factors led to imperial China’s decline? The Rise and Fall of Imperial China: The Social Origins of State Development (Princeton UP, 2022) offers a systematic look at the Chinese state from the seventh century through to the twentieth. Focusing on how short-lived emperors often ruled a strong state while long-lasting emperors governed a weak one, Yuhua Wang shows why lessons from China’s history can help us better understand state building. Wang argues that Chinese rulers faced a fundamental trade-off that he calls the sovereign’s dilemma: a coherent elite that could collectively strengthen the state could also overthrow the ruler. This dilemma emerged because strengthening state capacity and keeping rulers in power for longer required different social networks in which central elites were embedded. Wang examines how these social networks shaped the Chinese state, and vice versa, and he looks at how the ruler’s pursuit of power by fragmenting the elites became the final culprit for China’s fall. Drawing on more than a thousand years of Chinese history, The Rise and Fall of Imperial China highlights the role of elite social relations in influencing the trajectories of state development.Javier Mejia is a Postdoctoral Research Fellow at the Political Science Department at Stanford University. Learn more about your ad choices. Visit megaphone.fm/adchoices

Why don't trains run on time? Why are fares so expensive? Why are there so many strikes?Few would disagree that Britain's railways are broken, and have been for a long time.In Derailed: How to Fix Britain's Broken Railways (Manchester University Press, 2022), Dr. Tom Haines-Doran provides an insightful new book that calls for a radical rethink of how we view the railways, and explains the problems we face and how to fix them. Dr. Haines-Doran argues that the railways should be seen as a social good and an indispensable feature of the national economy. With passengers and railway workers holding governments to account, we could then move past the incessant debates on whether our railways are an unavoidably loss-making business failure. An alternative vision is both possible and affordable, enabling the railways to play an instrumental role in decreasing social inequalities, strengthening the economy and supporting a transition to a sustainable future.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