New Books in Economic and Business History

Today’s European Union grew out of functional communities set up in the wake of world war in the 1950s. It would shock the new White House intake to learn that the wartime American political class lobbied hard for a postwar United States of Europe. The role of US officials in building Europe’s first community – one for the coal and steel industries – and their close ties to "founding father" Jean Monnet have long been known. But, in Building Europe in New York: From the Munich Conference to the European Coal and Steel Community (Routledge, 2025), Enrico Ciappi takes things back a step - to the intellectual groundwork done by a network of American, French, and British politicians, diplomats, economists, and strategic thinkers."The Schuman Plan arrived at the end of a long intellectual journey," he writes, with the two critical players in that journey being Monnet himself and the renowned New York-based think tank: the Council on Foreign Relations.Enrico Ciappi is a postdoctoral research fellow in history at the LUISS Guido Carli University of Rome. This is his first book.*His book recommendations were The Emergence of Globalism: Visions of World Order in Britain and the United States, 1939–1950 by Or Rosenboim (Princeton University Press, 2017) and The Great Game: On Secret Service in High Asia by Peter Hopkirk (John Murray, 1990 — reprint in 2006).Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices

The global financial crisis of the late 2000s was marked by the failure of regulators to rein in risk-taking by banks. And yet regulatory issues varied from country to country, with some national financial regulatory systems proving more effective than others. In Visions of Financial Order: National Institutions and the Development of Banking Regulation (Princeton University Press, 2024), Dr. Kim Pernell traces the emergence of important national differences in financial regulation in the decades leading up to the crisis. To do so, she examines the cases of the United States, Canada, and Spain—three countries that subscribed to the same transnational regulatory framework (the Basel Capital Accord) but developed different regulatory policies in areas that would directly affect bank performance during the financial crisis.In a broad historical analysis that extends from the rise of the first modern chartered banks in the 1780s through the major financial crises of the twentieth century and the Basel Capital Accord of 1988, Dr. Pernell shows how the different (and sometimes competing) principles of order embedded in each country’s regulatory and political institutions gave rise to distinctive visions of order and prosperity, which shaped subsequent financial regulatory design. Dr. Pernell argues that the different worldviews of national banking regulators reflected cultural beliefs about the ideal way to organize economic life to promote order, stability, and prosperity. Visions of Financial Order offers an innovative perspective on the persistent differences between regulatory institutions and the ways they shaped the unfolding of the 2008 global financial crisis.This interview was conducted by Dr. Miranda Melcher whose new 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

In Capitalism in the Colonies: African Merchants in Lagos, 1851–1931 (Princeton UP, 2024), A. G. Hopkins provides the first substantial assessment of the fortunes of African entrepreneurs under colonial rule. Examining the lives and careers of 100 merchants in Lagos, Nigeria, between 1850 and 1931, Hopkins challenges conventional views of the contribution made by indigenous entrepreneurs to the long-run economic development of Nigeria. He argues that African merchants in Lagos not only survived, but were also responsible for key innovations in trade, construction, farming, and finance that are essential for understanding the development of Nigeria’s economy.The book is based on a large, representative sample and covers a time span that traces mercantile fortunes over two and three generations. Drawing on a wide range of sources, Hopkins shows that indigenous entrepreneurs were far more adventurous than expatriate firms. African merchants in Lagos pioneered motor vehicles, sewing machines, publishing, tanneries, and new types of internal trade. They founded the construction industry that built Lagos into a major port city, moved inland to start the cocoa-farming industry, and developed the finance sector that is still vital to Nigeria’s economy. They also took the lead in changing single-owned businesses into limited liability companies, creating freehold property rights and promoting wage labour. In short, Hopkins argues, they were the capitalists who introduced the institutions of capitalism into Nigeria. The story of African merchants in Nigeria reminds us, he writes, that economic structures have no life of their own until they are animated by the actions of creative individuals.Thomas E Kingston is a Berkeley Fellow and PhD student at UC Berkeley where he works on histories of knowledge, empire and capital, in the context of colonialism in Asia. He is an Economic History Society Student Ambassador, the Editorial Director of the Association for Southeast Asian Studies and a passionate rugby player. His website can be found at www.thomasekingston.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Adam Franklin-Lyons joins Jana Byars to talk about Shortage and Famine in the Late Medieval Crown of Aragon (Penn State Press, 2022). In the late fourteenth century, the medieval Crown of Aragon experienced a series of food crises that created conflict and led to widespread starvation. Adam Franklin-Lyons applies contemporary understandings of complex human disasters, vulnerability, and resilience to explain how these famines occurred and to describe more accurately who suffered and why. Shortage and Famine in the Late Medieval Crown of Aragon details the social causes and responses to three events of varying magnitude that struck the western Mediterranean: the minor food shortage of 1372, the serious but short-lived crisis of 1384–85, and the major famine of 1374–76, the worst famine of the century in the region. Shifts in military action, international competition, and violent attempts to control trade routes created systemic panic and widespread starvation—which in turn influenced decades of economic policy, social practices, and even the course of geopolitical conflicts, such as the War of the Two Pedros and the papal schism in Italy. Providing new insights into the intersecting factors that led to famine in the fourteenth-century Mediterranean, this deeply researched, convincingly argued book presents tools and models that are broadly applicable to any historical study of vulnerabilities in the human food supply. It will be of interest to scholars of medieval Iberia and the medieval Mediterranean as well as to historians of food and of economics. Learn more about your ad choices. Visit megaphone.fm/adchoices

For generations most of the canonical works that detail the lives of poor people have been created by rich or middle-class writers like Charles Dickens, John Steinbeck, or James Agee. This has resulted in overwhelming depictions of poor people as living abject, violent lives in filthy and degrading conditions. In Poor Things: How Those with Money Depict Those Without It (Duke UP, 2024), Lennard J. Davis labels this genre ‘poornography”: distorted narratives of poverty written by and for the middle and upper classes. Davis shows how poornography creates harmful and dangerous stereotypes that build barriers to social justice and change. To remedy this, Davis argues, poor people should write realistic depictions of themselves, but because of representational inequality they cannot. Given the obstacles to the poor accessing the means of publication, Davis suggests that the work should, at least for now, be done by “transclass” writers who were once poor and who can accurately represent poverty without relying on stereotypes and clichés. Only then can the lived experience of poverty be more fully realized.The Endo/Exo Writers Project.Nathan Smith is a PhD candidate in Music Theory at Yale Universitynathan.smith@yale.edu Learn more about your ad choices. Visit megaphone.fm/adchoices

Economists in the Cold War: How a Handful of Economists Fought the Battle of Ideas (Oxford UP, 2023) is an account of the economic drivers and outcomes of the Cold War, told through the stories of seven international economists, who were all closely involved in theory and policy in the period 1945-73. For them, the Cold War was a battle of economic ideas, a fight between central planning and market allocation, exploring economic thinking derived from the battle between Marxist and Capitalist ideologies, a fundamental difference but with many intricacies.The book recounts how economic theory advanced, how new economic tools were developed, and how policies were tested. Each chapter is based on the involvement of one of the selected economists. It was a challenging but dangerous time in economics: a time of economic recovery post-war, with industrial rebuilding, economic growth, and rising incomes. But it was also a time of ideological warfare, nuclear rivalry, military expansion, and personal conflict.The narrative is approximately chronological, ranging from the Potsdam Conference in Germany to the Pinochet Coup in Chile. The selected economists include an American, a Pole, a Hungarian, a German, a British, a Japanese, and an Argentinian, all very different economists, but with interconnections among them. Each chapter also features a dissenting economist who held a contrasting view, and recounts the subsequent economic arguments that played out.Alan Bollard is a Professor of Economics at Victoria University of Wellington, New Zealand. He formerly managed APEC, the largest regional economic integration organization in the world, and was previously the New Zealand Reserve Bank Governor, Secretary of the New Zealand Treasury, and Chairman of the New Zealand Commerce Commission. Professor Bollard is the author of Crisis: One Central Bank Governor and the Global Financial Crisis (Auckland University Press, 2013) and A Few Hares to Chase: The Life and Economics of Bill Philips (Oxford University Press, 2016).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

As the first book-length study of auctions in early America, America Under the Hammer: Auctions and the Emergence of Market Values (U Pennsylvania Press, 2024) follows this ubiquitous but largely overlooked institution to reveal how, across the eighteenth and early nineteenth centuries, price became an accepted expression of value. From the earliest days of colonial conquest, auctions put Native land and human beings up for bidding alongside material goods, normalizing new economic practices that turned social relations into economic calculations and eventually became recognizable as nineteenth-century American capitalism.Starting in the eighteenth century, neighbors collectively turned speculative value into economic “facts” in the form of concrete prices for specific items, thereby establishing ideas about fair exchange in their communities. This consensus soon fractured: during the Revolutionary War, state governments auctioned loyalist property, weaponizing local group participation in pricing and distribution to punish political enemies. By the early nineteenth century, suspicion that auction outcomes were determined by manipulative auctioneers prompted politicians and satirists to police the boundaries of what counted as economic exchange and for whose benefit the economy operated. Women at auctions—as commodities, bidders, or beneficiaries—became a focal point for gendering economic value itself. By the 1830s, as abolitionists attacked the public sale of enslaved men, women, and children, auctions had enshrined a set of economic ideas—that any entity could be coded as property and priced through competition—that have become commonsense understandings all too seldom challenged.In contrast to histories focused on banks, currencies, or plantations, America Under the Hammer highlights an institution that integrated market, community, and household in ways that put gender, race, and social bonds at the center of ideas about economic worth. Women and men, enslaved and free, are active participants in this story rather than bystanders, and their labor, judgments, and bodies define the resulting contours of the American economy.Ellen Hartigan-O'Connor is Professor of History at the University of California, Davis, and author of The Ties That Buy: Women and Commerce in Revolutionary America, also available from the University of Pennsylvania Press. Learn more about your ad choices. Visit megaphone.fm/adchoices

In a captivating discussion, Dr. Michael Tondre, a cultural historian and English professor at Stony Brook University, elucidates the multifaceted role of oil in shaping modern society. He explores how oil transcends its physical form, influencing economies, culture, and individual identities. Debunking myths about its origins, he highlights oil's deeper connections to labor movements and environmental narratives. Tondre also discusses the implications of oil dependency on marginalized communities and envisions a sustainable future beyond fossil fuels.

Who owns Scotland? How did they get it? What happened to all the common land in Scotland? Has the Scottish Parliament made any difference? Can we get our common good land back? In this updated edition of The Poor Had No Lawyers: Who Owns Scotland and How They Got it (Birlinn, 2024), Andy Wightman updates the statistics of landownership in Scotland and explores how and why landowners got their hands on the millions of acres of land that were once held in common.He tells the untold story of how Scotland's legal establishment and politicians managed to appropriate land through legal fixes. Have attempts to redistribute this power more equitably made any difference, and what are the full implications of the recent debt-fuelled housing bubble, the Smith Commission and the new Scottish Government's proposals on land reform? For all those with an interest in urban and rural land in Scotland, this updated edition of The Poor Had No Lawyers provides a fascinating analysis of one the most important political questions in Scotland.This interview was conducted by Dr. Miranda Melcher whose new 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

Following Overwhelmed, Brigid Schulte's groundbreaking examination of time management and stress, the prizewinning journalist now turns her attention to the greatest culprit in America's quality-of-life crisis: the way our economy and culture conceive of work. Americans across all demographics, industries, and socioeconomic levels report exhaustion, burnout, and the wish for more meaningful lives. This full-system failure in our structure of work affects everything from gender inequality to domestic stability, and it even shortens our lifespans.Drawing on years of research, Schulte traces the arc of our discontent from a time before the 1980s, when work was compatible with well-being and allowed a single earner to support a family, until today, with millions of people working multiple hourly jobs or in white-collar positions where no hours are ever off duty.She casts a wide net in search of solutions, exploring the movement to institute a four-day workweek, introducing Japan's Housewives Brigade--which demands legal protection for family time--and embedding with CEOs who are making the business case for humane conditions. And she demonstrates the power of a collective and creative demand for change, showing that work can be organized in an infinite number of ways that are good for humans and for business.Fiercely argued and vividly told, rich with stories and informed by deep investigation, Over Work: Transforming the Daily Grind in the Quest for a Better Life (Henry Holt, 2024) lays out a clear vision for ending our punishing grind and reclaiming leisure, joy, and meaning.Brigid Schulte is the author of the bestselling Overwhelmed: Work, Love, and Play When No One Has the Time and an award-winning journalist formerly for the Washington Post, where she was part of a team that won a Pulitzer Prize. She is also the director of the Better Life Lab, the work-family justice and gender equity program at New America. Learn more about your ad choices. Visit megaphone.fm/adchoices