New Books in Economic and Business History

Between 1949 and 1997, Hong Kong transformed from a struggling British colonial outpost into a global financial capital. Made in Hong Kong: Transpacific Networks and a New History of Globalization (Columbia University Press, 2021) delivers a new narrative of this metamorphosis, revealing Hong Kong both as a critical engine in the expansion and remaking of postwar global capitalism and as the linchpin of Sino-U.S. trade since the 1970s.In Made in Hong Kong, Peter E. Hamilton explores the role of an overlooked transnational Chinese elite who fled to Hong Kong amid war and revolution. Despite losing material possessions, these industrialists, bankers, academics, and other professionals retained crucial connections to the United States. They used these relationships to enmesh themselves and Hong Kong with the U.S. through commercial ties and higher education. By the 1960s, Hong Kong had become a manufacturing powerhouse supplying American consumers, and by the 1970s it was the world’s largest sender of foreign students to American colleges and universities. Hong Kong’s reorientation toward U.S. international leadership enabled its transplanted Chinese elites to benefit from expanding American influence in Asia and positioned them to act as shepherds to China’s reengagement with global capitalism. After China’s reforms accelerated under Deng Xiaoping, Hong Kong became a crucial node for China’s export-driven development, connecting Chinese labor with the U.S. market.Peter E. Hamilton is a historian of China and the World. From fall 2021, he will be Assistant Professor in World History at Lingnan University in Hong Kong. His research has been published in Twentieth-Century China, The International History of Review, The Journal of Historical Sociology, and numerous media outlets.Ghassan Moazzin is an Assistant Professor at the Hong Kong Institute for the Humanities and Social Sciences and the Department of History at the University of Hong Kong. He works on the economic and business history of 19th and 20th century China, with a particular focus on the history of foreign banking, international finance and electricity in modern China. His first book, tentatively titled Banking on the Chinese Frontier: Foreign Banks and Global Finance in Modern China, 1870–1919, is forthcoming with Cambridge University Press. Learn more about your ad choices. Visit megaphone.fm/adchoices

In Farm (and Other F Words): The Rise and Fall of the Small Family Farm (New Degree Press, 2021), Sarah K. Mock seeks to answer “what exactly do we mean by a Good Farm?” She looks at size, income, and age, among other factors that might be metrics of a Good Farm. Using USDA NASS data, farmer interviews, and experience Sarah shares some not so easy to hear perspectives. In this interview, Sarah discusses the systems at play, most working exactly as intended, that are preventing agribusiness from operating as businesses at all. We discuss the lack of mechanisms to remove ineffective or harmful farmers, why more farms don’t grow food (e.g., fruits and vegetables), and whether rich farmers grow food for poor people while poor farmers grow food for rich people. In the last moments of the book, and our interview, Sarah reveals a potential solution – Big Team Farms. What are they? Come find out. Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of the New Books in Economic and Business History is an interview with Dr. Shane Hamilton, Senior Lecturer in Management at The York Management School, University of York. There he teaches Strategy and Business Humanities. He is the author of Trucking Country: The Road to America's Wal-Mart Economy (Princeton, 2008) and he is associate editor of Enterprise & Society and co-editor of the book series American Business, Politics, and Society of the University of Pennsylvania Press. He has published articles on food and agribusiness in different journals such as the Technology & Culture, Strategic Entrepreneurship Journal, History of Retailing and Consumption, Enterprise & Society, Business History Review, and Agricultural History. Today our interview is centered around Professor Hamilton’s latest book Supermarket USA, Food and Power in the Cold War Farms Race (published by Yale University Press in 2018). America fought the Cold War in part through supermarkets—and the food economy pioneered then has helped shape the way we eat today Supermarkets were invented in the United States, and from the 1940s on they made their way around the world, often explicitly to carry American‘ style economic culture with them. This innovative history tells us how supermarkets were used as anticommunist weapons during the Cold War, and how that has shaped our current food system. The widespread appeal of supermarkets as weapons of free enterprise contributed to a “farms race” between the United States and the Soviet Union, as the superpowers vied to show that their contrasting approaches to food production and distribution were best suited to an abundant future. In the aftermath of the Cold War, U.S. food power was transformed into a global system of market power, laying the groundwork for the emergence of our contemporary world, in which transnational supermarkets operate as powerful institutions in a global food economy.I recommend you visit Dr. Shane Hamilton’s website to learn about all his publications.Paula De La Cruz-Fernandez is a consultant, historian, and digital editor. New Books Network en español editor. Edita CEO. Learn more about your ad choices. Visit megaphone.fm/adchoices

In 1800 a Belfast linen merchant named Alexander Brown emigrated with his wife and eldest son to Baltimore. Today his family’s name lives on in the investment firm Brown Brothers Harriman, a company that has long played an outsized role in American history. As Zachary Karabell details in his book Inside Money: Brown Brothers Harriman and the American Way of Power (Penguin, 2021), a key factor in its endurance over the country’s long and often tumultuous financial history has been the importance it has accorded to the values of trust and reputation which Alexander Brown championed. These he taught to his sons, who branched out beyond Baltimore and Liverpool and spearheaded the transition from trade into finance. By the second generation the Browns were fixtures in both London and New York, from where their respective firms endured the Civil War and grew as the country expanded.By the end of the 19th century Brown Brothers was among the nation’s elite financial firms. Karabell shows how their founder’s values were shared by the others of a new emergent ruling, who were educated at a handful of top schools and who moved easily between finance and politics. Though Brown Brothers steered clear of the volatile transactions that were associated with the Gilded Age, they formed ties with some of its participants, most notably railroad tycoon and financier E. H. Harriman. It was the financial firm created by Harriman’s sons Averell and Roland that merged with Brown Brothers in 1930 to create Brown Brothers Harriman, which nurtured a generation of cabinet members, governors, and United States senators. As Karabell demonstrates, these leaders carried forward the ideals Alexander Brown advocated, which have not only shaped America’s role in the world but have ensured the firm’s survival while its counterparts around them have risen and fallen in the unrestrained pursuit of wealth. Learn more about your ad choices. Visit megaphone.fm/adchoices

Emma Rothschild’s new book, An Infinite History: The Story of a Family in France over Three Centuries (Princeton University Press, 2021) (see the book’s accompanying website here: https://infinitehistory.org), is a beautiful work that, by following the lives of one obscure family over five generations, weaves together a history of France through the momentous revolutions and economic transformations of the eighteenth and nineteenth centuries. In this conversation, Emma talks to Yi Ning Chang about the puzzles of writing micro-, meso-, and macrohistory, about the literary and the historical, and about what it might mean for the historian to treat every historical story as one of potentially infinite possibilities.Marie Aymard was an illiterate widow who lived in the provincial town of Angoulême in southwestern France, a place where seemingly nothing ever happened. Yet, in 1764, she made her fleeting mark on the historical record through two documents: a power of attorney in connection with the property of her late husband, a carpenter on the island of Grenada, and a prenuptial contract for her daughter, signed by eighty-three people in Angoulême. Who was Marie Aymard? Who were all these people? And why were they together on a dark afternoon in December 1764? Beginning with these questions, An Infinite History offers a panoramic look at an extended family over five generations. Through ninety-eight connected stories about inquisitive, sociable individuals, ending with Marie Aymard’s great-great granddaughter in 1906, Emma Rothschild unfurls an innovative modern history of social and family networks, emigration, immobility, the French Revolution, and the transformation of nineteenth-century economic life.Rothschild spins a vast narrative resembling a period novel, one that looks at a large, obscure family, of whom almost no private letters survive, whose members traveled to Syria, Mexico, and Tahiti, and whose destinies were profoundly unequal, from a seamstress living in poverty in Paris to her third cousin, the cardinal of Algiers. Rothschild not only draws on discoveries in local archives but also uses new technologies, including the visualization of social networks, large-scale searches, and groundbreaking methods of genealogical research.An Infinite History demonstrates how the ordinary lives of one family over three centuries can constitute a remarkable record of deep social and economic changes.Yi Ning Chang is a PhD student in political theory at the Department of Government at Harvard University. She works on the history of contemporary political thought, postcolonial theory and race, and the global histories of anticolonialism and anti-imperialism in Southeast Asia. Yi Ning can be reached at yiningchang@g.harvard.edu. Learn more about your ad choices. Visit megaphone.fm/adchoices

Pirates and Publishers: A Social History of Copyright in Modern China (Princeton University Press, 2019) is a detailed historical look at how copyright was negotiated and protected by authors, publishers, and the state in late imperial and modern China. In Pirates and Publishers, Fei-Hsien Wang reveals the unknown social and cultural history of copyright in China from the 1890s through the 1950s, a time of profound sociopolitical changes. Wang draws on a vast range of previously underutilized archival sources to show how copyright was received, appropriated, and practiced in China, within and beyond the legal institutions of the state. Contrary to common belief, copyright was not a problematic doctrine simply imposed on China by foreign powers with little regard for Chinese cultural and social traditions. Shifting the focus from the state legislation of copyright to the daily, on-the-ground negotiations among Chinese authors, publishers, and state agents, Wang presents a more dynamic, nuanced picture of the encounter between Chinese and foreign ideas and customs. Developing multiple ways for articulating their understanding of copyright, Chinese authors, booksellers, and publishers played a crucial role in its growth and eventual institutionalization in China. These individuals enforced what they viewed as copyright to justify their profit, protect their books, and crack down on piracy in a changing knowledge economy. As China transitioned from a late imperial system to a modern state, booksellers and publishers created and maintained their own economic rules and regulations when faced with the absence of an effective legal framework. Exploring how copyright was transplanted, adopted, and practiced, Pirates and Publishers demonstrates the pivotal roles of those who produce and circulate knowledge.Fei-Hsien Wang is associate professor at the Department of History, Indiana University Bloomington. She is a historian of modern China, with a particular interest in how information, ideas, and practices were produced, transmitted, and consumed across different societies in East Asia. Her research has revolved around the relations between knowledge, commerce, and political authority after 1800. She is Associate Editor of the American Historical Review.Ghassan Moazzin is an Assistant Professor at the Hong Kong Institute for the Humanities and Social Sciences and the Department of History at the University of Hong Kong. He works on the economic and business history of 19th and 20th century China, with a particular focus on the history of foreign banking, international finance and electricity in modern China. His first book, tentatively titled Banking on the Chinese Frontier: Foreign Banks, Global Finance and the Making of Modern China, 1870–1919, is forthcoming with Cambridge University Press. Learn more about your ad choices. Visit megaphone.fm/adchoices

In recent years the phrase “revisionist history” has emerged as a label for politically-correct reexaminations of an unalterable understanding of our past. As James M. Banner, Jr. demonstrates in his book The Ever-Changing Past: Why All History Is Revisionist History (Yale UP, 2021), such a definition ignores how historical knowledge in the West has always been fluid and subject to reinterpretation by scholars. As Banner illustrates, such revisionism occurs in a variety of ways and can reflect everything from the discovery of new information to the reconsideration of the past from different perspectives the present. These approaches are evident even in the earliest works of history, and reflect the changes that have taken place in civilization over time. By addressing recent public controversies at which revisionism was at the heart, Banner shows that It is through this process that we better understand who we are today and the course we will take as a society going forward. Learn more about your ad choices. Visit megaphone.fm/adchoices

Suzanne L. Marchand's new book Porcelain: A History from the Heart of Europe (Princeton University Press, 2020) balances several histories at once through the story of a single commodity. Rather than a history of art or aesthetics per se—though it certainly touches style and artists— Porcelain is at once a business history of mercantile productions, a history of chemistry at the dawn of modern industry, and a history of aristocratic consumption of porcelain as these stories open into an economic history of globalized markets, as well as a social history of sorts of Central Europe’s fledgling bourgeois and lower-class consumer public. Marchand traces these interlocking stories across three centuries, from the first European firing of porcelain in 1708 under the supervision of Johann Friedrich Böttger to the present day, where contemporary tastes threaten to consign the white tableware of Europe’s past to the flea markets of today. Porcelain in Marchand’s hands acts as something like an objet de memoire, to think of Pierre Nora and other scholars’ work on national histories. One of the book’s many virtues is the sense of Professor Marchand reassembling a continental pattern out of several shards.Porcelain, as Professor Marchand writes, “is a rich and complicated adventure, in which we not only visit lavishly decorated palaces but also linger in blisteringly hot craft workshops and spartan working-class homes. Though actual porcelain objects in all their splendor and strangeness play a central role, the focus is really on the people who made, marketed, and purchased them, whether they were princes, or peddlers, or middle-class housewives.” It is also an attempt to write Central European history in a new way, one that the author hopes will be taken up by other scholars of history and material culture.John Raimo is a PhD. Candidate in History at NYU finishing up my dissertation (on postwar publishing houses) this summer in European history. Learn more about your ad choices. Visit megaphone.fm/adchoices

Nate Holdren is the author of Injury Impoverished: Workplace Accidents, Capitalism, and Law in the Progressive Era, published by Cambridge University Press in 2020. Injury Impoverished looks at the history of U.S. workplace injuries in the late-19th and early-20th Centuries. As the workers, employers, and reformers attempted to tackle the drastically high rates of workplace injuries and deaths, the nation passed a number of compensation laws that fundamentally changed how the law approached workplace injuries. Holdren, in examining this history illustrates the many shortcomings of these laws, and how laws meant to help employees were often used to do the exact opposite. At the heart of Holdren’s study is whether or not the economy and the legal system was interested in and able to do justice for a workers.Dr. Holdren is an Assistant Professor at Drake University.Derek Litvak is a PhD candidate at the University of Maryland—College Park. His dissertation, "The Specter of Black Citizens: Race, Slavery, and Citizenship in the Early United States," examines how citizenship was used to both bolster the institution of slavery and exclude Black Americans from the body politic. Learn more about your ad choices. Visit megaphone.fm/adchoices

In spite of Karl Marx's proclamation that money would become obsolete under Communism, the ruble remained a key feature of Soviet life. In fact, although Western economists typically concluded that money ultimately played a limited role in the Soviet Union, Kristy Ironside argues that money was both more important and more powerful than most histories have recognized. After the Second World War, money was resurrected as an essential tool of Soviet governance. Certainly, its importance was not lost on Soviet leaders, despite official Communist Party dogma. Money, Ironside demonstrates, mediated the relationship between the Soviet state and its citizens and was at the center of both the government's and the people's visions for the maturing Communist project. A strong ruble--one that held real value in workers' hands and served as an effective labor incentive--was seen as essential to the economic growth that would rebuild society and realize Communism's promised future of abundance.In A Full-Value Ruble: The Promise of Prosperity in the Postwar Soviet Union (Harvard UP, 2021), Ironside shows how Soviet citizens turned to the state to remedy the damage that the ravages of the Second World War had inflicted upon their household economies. From the late 1940s through the early 1960s, progress toward Communism was increasingly measured by the health of its citizens' personal finances, such as greater purchasing power, higher wages, better pensions, and growing savings. However, the increasing importance of money in Soviet life did not necessarily correlate to improved living standards for Soviet citizens. The Soviet government's achievements in "raising the people's material welfare" continued to lag behind the West's advances during a period of unprecedented affluence. These factors combined to undermine popular support for Soviet power and confidence in the Communist project.Kristy Ironside is an Assistant Professor of Russian history at McGill University. She focuses on the economic, social, and political history of the Soviet Union. Learn more about your ad choices. Visit megaphone.fm/adchoices