New Books in Economic and Business History

In Our Long Walk to Economic Freedom: Lessons from 100,000 Years of Human History (Cambridge UP, 2022), Johan Fourie gives a new look to economic history from an African perspective while successfully addressing and engaging with a wide audience. During the interview, Fourie tells of the challenges to write such a project while also providing a global view of economic development.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 Cloudmoney: Cash, Cards, Crypto, and the War for Our Wallets (Harper Business, 2022), Brett Scott tells an urgent and revelatory story about how the fusion of Big Finance and Big Tech requires “cloudmoney”—digital money underpinned by the banking sector—to replace physical cash. He dives beneath the surface of the global financial system to uncover a long-established lobbying infrastructure: an alliance of partners waging a covert war on cash. He explains the technical, political, and cultural differences between our various forms of money and shows how the cash system has been under attack for decades, as banking and tech companies promote a cashless society under the banner of progress.Cloudmoney takes us to the front lines of a war for our wallets that is also about our freedom, from marketing strategies against cash to the weaponization of COVID-19 to push fintech platforms, and from there to the rise of the cryptocurrency rebels and fringe groups pushing back. It asks the most pressing questions:  Who benefits from a cashless society and who gets left behind?  Is the end of cash the end of true privacy? And is our cloudmoney future closer than we think it is? Brett Scott is an economic anthropologist, financial activist, and former broker. In 2013 he published The Heretic’s Guide to Global Finance: Hacking the Future of Money, and since then has spoken at hundreds of events across the globe and has appeared across international media, including BBC World News and Sky News. He has written extensively on financial reform, digital finance, alternative currency, blockchain technology, and the cashless society for publications like the Guardian, New Scientist, Huffington Post, Wired, and CNN.com, and also publishes the Altered States of Monetary Consciousness newsletter. He has worked on financial reform campaigns and alternative currency systems with a wide range of groups and is a Senior Fellow of the Finance Innovation Lab (UK). He currently resides in Berlin.Utsav Saksena is a Research Fellow at the National Institute of Public Finance and Policy (NIPFP), an autonomous institute under the Ministry of Finance, Government of India. He can be reached at utsavsaksena@protonmail.com. Note: opinions expressed in this podcast are purely personal and do not reflect the official position of NIPFP or the Ministry of Finance, Government of India. Learn more about your ad choices. Visit megaphone.fm/adchoices

A new history explores how one of Renaissance Italy's leading cities maintained its influence in an era of global exploration, trade, and empire. The Grand Duchy of Tuscany was not an imperial power, but it did harbor global ambitions. After abortive attempts at overseas colonization and direct commercial expansion, as Brian Brege shows, Tuscany followed a different path, one that allowed it to participate in Europe's new age of empire without establishing an empire of its own. The first history of its kind, Tuscany in the Age of Empire (Harvard UP, 2021) offers a fresh appraisal of one of the foremost cities of the Italian Renaissance, as it sought knowledge, fortune, and power throughout Asia, the Americas, and beyond. How did Tuscany, which could not compete directly with the growing empires of other European states, establish a global presence? First, Brege shows, Tuscany partnered with larger European powers. The duchy sought to obtain trade rights within their empires and even manage portions of other states' overseas territories. Second, Tuscans invested in cultural, intellectual, and commercial institutions at home, which attracted the knowledge and wealth generated by Europe's imperial expansions. Finally, Tuscans built effective coalitions with other regional powers in the Mediterranean and the Islamic world, which secured the duchy's access to global products and empowered the Tuscan monarchy in foreign affairs. These strategies allowed Tuscany to punch well above its weight in a world where power was equated with the sort of imperial possessions it lacked. By finding areas of common interest with stronger neighbors and forming alliances with other marginal polities, a small state was able to protect its own security while carving out a space as a diplomatic and intellectual hub in a globalizing Europe. Learn more about your ad choices. Visit megaphone.fm/adchoices

In Global Taiwanese: Asian Skilled Labour Migrants in a Changing World (U Toronto Press, 2021), Fiona Moore explores the different ways in which Taiwanese expatriates in London and Toronto, along with professionals living in Taipei, use their shared Taiwanese identities to construct and maintain global and local networks.Based on a three-year-long ethnographic study that incorporates interviews with people from diverse backgrounds, generations, and histories, this book explores what their different experiences tell us about migration in “tolerant” and “hostile” regimes.Global Taiwanese considers the implications in leveraging their Taiwanese ethnic identity for both business and personal purposes. As people become increasingly mobile, ethnic identity becomes more important as a means of negotiating transnational encounters; however, at the same time, the opportunities it offers are rooted in local cultural practices, requiring professionals and other migrants to develop complex social strategies that link and cross the global and local levels.With rich ethnographic detail, this book contributes to the understanding of the migrant experience and how it varies from location to location, how migration more generally changes in response to wider socioeconomic factors, and, finally, of the specific case of Taiwan and how the distinctive nature of its diaspora emerges through wider discourses of Chineseness and pan-Asian identity.Fiona Moore is a professor in the School of Business and Management at Royal Holloway University of London.Li-Ping Chen is Postdoctoral Scholar and Teaching Fellow in the East Asian Studies Center at the University of Southern California. Her research interests include literary translingualism, diaspora, and nativism in Sinophone, inter-Asian, and transpacific contexts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Concentrated market power and the weakened sway of corporate stakeholders over management have emerged as leading concerns of American political economy. In his book Robbing Peter to Pay Paul: Power, Profits, and Productivity in Modern America (Yale UP, 2021), economic historian Samuel Milner provides a context for contemporary efforts to resolve these anxieties by examining the contest to control the distribution of corporate income during the mid‑twentieth century.During this “Golden Age of American Capitalism,” apprehension about the debilitating consequences of industrial concentration fueled efforts to ensure that management would share the fruits of progress with workers, consumers, and society as a whole (“stakeholders”). Focusing on wage and price determination in steel, automobiles, and electrical equipment, Milner reveals how the management of concentrated industries understood its ability to distribute income to its stakeholders as well as why economists, courts, and public policymakers struggled to curtail the exercise of that market power at its source. The book could not be timelier, given the recent rise of inflation, wage price pressure, and supply shocks, as well as renewed interest in labor organization and anti-trust legislation.John Emrich has worked for decades in corporate finance, business valuation and fund management. He has a podcast about the investment advisory industry called Kick the Dogma. Learn more about your ad choices. Visit megaphone.fm/adchoices

In Weeds and the Carolingians: Empire, Culture, and Nature in Frankish Europe, AD 750–900 (Cambridge University Press, 2021), Dr. Paolo Squatriti asks: Why did weeds matter in the Carolingian empire? What was their special significance for writers in eighth- and ninth-century Europe and how was this connected with the growth of real weeds?In early medieval Europe, unwanted plants that persistently appeared among crops created extra work, reduced productivity, and challenged theologians who believed God had made all vegetation good. For the first time, in this book weeds emerge as protagonists in early medieval European history, driving human farming strategies and coloring people's imagination. Early medieval Europeans' effort to create agroecosystems that satisfied their needs and cosmologies that confirmed Christian accounts of vegetable creation both had to come to terms with unruly plants. Using diverse kinds of texts, fresh archaeobotanical data, and even mosaics, this interdisciplinary study reveals how early medieval Europeans interacted with their environments.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

The Future of Money: How the Digital Revolution is Transforming Currencies and Finance (The Belknap Press of Harvard University Press, 2021) provides a cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think we have seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force won't be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.Eswar Prasad is the Tolani Senior Professor of Trade Policy at Cornell University. He is also a Senior Fellow at the Brookings Institution, where he holds the New Century Chair in International Economics, and a Research Associate at the National Bureau of Economic Research. He was previously chief of the Financial Studies Division in the International Monetary Fund's Research Department and, before that, was the head of the IMF's China Division.Caleb Zakarin is the Assistant Editor of the New Books Network (Twitter: @caleb_zakarin).  Learn more about your ad choices. Visit megaphone.fm/adchoices

By the early eighteenth century, the economic primacy, cultural efflorescence, and geopolitical power of the Dutch Republic appeared to be waning. The end of this Golden Age was also an era of natural disasters. Between the late seventeenth and the mid-eighteenth century, Dutch communities weathered numerous calamities, including river and coastal floods, cattle plagues, and an outbreak of strange mollusks that threatened the literal foundations of the Republic. Adam Sundberg’s new book, Natural Disaster at the Closing of the Dutch Golden Age (Cambridge UP, 2022), demonstrates that these disasters emerged out of longstanding changes in environment and society. They were also fundamental to the Dutch experience and understanding of eighteenth-century decline. Disasters provoked widespread suffering, but they also opened opportunities to retool management strategies, expand the scale of response, and to reconsider the ultimate meaning of catastrophe. This book reveals a dynamic and often resilient picture of a society coping with calamity at odds with historical assessments of eighteenth-century stagnation.Douglas Bell is a writer, teacher, and historian who lives in the Netherlands. His research interests center on American military history, American foreign policy, German history, and European Studies. Tweet him @douglasibell. Learn more about your ad choices. Visit megaphone.fm/adchoices

Roselyn Hsueh’s Micro-Institutional Foundations of Capitalism (Cambridge, 2022) presents a new framework for understanding how developing countries integrate into the global economy. Examining the labor-intensive textile sector and the capital-intensive telecommunications sector in China, India, and Russia, Hsueh shows how differences in the way elites perceive the strategic value of a sector can lead to dramatically different patterns of governance.Author Roselyn Hsueh is an Associate Professor of Political Science at Temple University, where she co-directs the Certificate in Political Economy. She is also the author of China’s Regulatory State: A New Strategy for Globalization and scholarly articles and book chapters on states and markets, comparative regulation and governance, and development and globalization. She is a frequent commentator on international politics, finance and trade, and comparative economic development. BBC World News, The Economist, Foreign Affairs, Foreign Policy, National Public Radio, The Washington Post, and other media outlets have featured her research. She earned her B.A. and Ph.D. in Political Science from the University of California, Berkeley.Host Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco. His own research focus is the political economy of governance in China. Learn more about your ad choices. Visit megaphone.fm/adchoices

It began with a smoke break. James Monsees and Adam Bowen were two ambitious graduate students at Stanford, and in between puffs after class they dreamed of a way to quit smoking. Their solution became the Juul, a sleek, modern device that could vaporize nicotine into a conveniently potent dosage. The company they built around that device, Juul Labs, would go on to become a $38 billion dollar company and draw blame for addicting a whole new generation of underage tobacco users.Time magazine reporter Jamie Ducharme follows Monsees and Bowen as they create Juul and, in the process, go from public health visionaries and Silicon Valley wunderkinds to two of the most controversial businessmen in the country.With rigorous reporting and clear-eyed prose that reads like a nonfiction thriller, Big Vape: The Incendiary Rise of Juul (Henry Holt, 2021) uses the dramatic rise of Juul to tell a larger story of big business, Big Tobacco, and the high cost of a product that was too good to be true.Jamie Ducharme is a correspondent at Time magazine, where she covers health and science.Caleb Zakarin is the Assistant Editor of the New Books Network (Twitter: @caleb_zakarin). Learn more about your ad choices. Visit megaphone.fm/adchoices