New Books in Economic and Business History

Peoples & Things host, Lee Vinsel, talks with retired professor, consultant, Discovery Institute fellow, and a winner of the NTT DoCoMo Mobile Science Award, Jeffrey Lee Funk, about his recent book Unicorns, Hype, and Bubbles: A Guide to Spotting, Avoiding, and Exploiting Investment Bubbles in Tech (Harriman House, 2024). The book provides readers with fundamental tools for exploring technology markets and spotting financial bubbles, which have been recurring at a high rate in recent decades. In addition to talking through the basic perspectives the book provides, Vinsel and Funk also talk through examples of recent technology bubbles, including the likely current bubble centered on generative AI. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to the Global Corporations Special Series on the Law Channel on the New Books Network. This Special Series is dedicated to interviews with scholars about recent books engaging with different aspects of global corporations – with a focus on the role of law and legal forms.Our guest today is Dr. Joshua Ehrlich, Associate Professor in the Department of History at the University of Macau. Josh is a historian of knowledge and political thought with a focus on the East India Company and the British Empire in South and Southeast Asia.We spoke with Josh in a live event as part of a workshop in Hong Kong on the history of companies in Asia about his first book, The East India Company and the Politics of Knowledge which was published by Cambridge University Press in 2023.The book is a deeply researched and well-written account of how East India Company officials developed and deployed ideas about knowledge to bolster its own authority, and to manage the transition from corporate sovereignty towards unitary state sovereignty. In the process, Josh develops a novel methodological approach that he calls the history of ideas of knowledge – an approach that allows us to recover past meanings and usages of concepts about knowledge to make them available again in the present. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Tropical Turn: Agricultural Innovation in the Ancient Middle East and the Mediterranean (University of California Press, 2023) chronicles the earliest histories of familiar tropical Asian crops in the ancient Middle East and the Mediterranean, from rice and cotton to citruses and cucumbers. Drawing on archaeological materials and textual sources in over seven ancient languages, The Tropical Turn unravels the breathtaking anthropogenic peregrinations of these familiar crops from their homelands in tropical and subtropical Asia to the Middle East and the Mediterranean, showing the significant impact South Asia had on the ecologies, dietary habits, and cultural identities of peoples across the ancient world. In the process, Sureshkumar Muthukumaran offers a fresh narrative history of human connectivity across Afro-Eurasia from the Bronze Age to the late centuries BCE.Sureshkumar Muthukumaran is a lecturer in History at the National University of Singapore. Sureshkumar received his BA in history at University College London, a Masters in Greek and Roman History at the University of Oxford and a DPhil in History at University College London. He won the American History Association's 2024 Jerry Bentley Prize in World History for The Tropical Turn.Jessie Cohen is an editor for the New Books Network. She earned her Ph.D. in History from Columbia University. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Port of Los Angeles is all around us. Objects we use on a daily basis pass through it: furniture, apparel, electronics, automobiles, and much more. The busiest container port in the Western hemisphere, it claims one-sixth of all US ocean shipping. Yet despite its centrality to our world, the port and the story of its making have been neglected in histories of the United States. In A Machine to Move Ocean and Earth: The Making of the Port of Los Angeles and America (WW Norton, 2024), historian Dr. James Tejani corrects that significant omission, charting the port’s rise out of the mud and salt marsh of San Pedro estuary—and showing how the story of the port is the story of modern, globalized America itself.By the mid-nineteenth century, Americans had identified the West Coast as the republic’s destiny, a gateway to the riches of the Pacific. In a narrative spanning decades and stretching to Washington, DC, the Pacific Northwest, Civil War Richmond, Southwest deserts, and even overseas to Europe, Hawaii, and Asia, Tejani demonstrates how San Pedro came to be seen as all-important to the nation’s future. It was not virgin land, but dominated by powerful Mexican estates that would not be dislodged easily. Yet American scientists, including the great surveyor George Davidson, imperialist politicians such as Jefferson Davis and William Gwin, and hopeful land speculators, among them the future Union Army general Edward Ord, would wrest control of the estuary, and set the scene for the violence, inequality, and engineering marvels to come.San Pedro was no place for a harbor, Dr. Tejani reveals. The port was carved in defiance of nature, using new engineering techniques and massive mechanical dredgers. Business titans such as Collis Huntington and Edward H. Harriman brought their money and corporate influence to the task. But they were outmatched by government reformers, laying the foundations for the port, for the modern city of Los Angeles, and for our globalized world. Interweaving the natural history of San Pedro into this all-too-human history, Dr. Tejani vividly describes how a wild coast was made into the engine of American power. A story of imperial dreams and personal ambition, A Machine to Move Ocean and Earth is necessary reading for anyone who seeks to understand what the United States was, what it is now, and what it will be.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. You can find Miranda’s episodes on New Books with Miranda Melcher, wherever you get your podcasts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Peter Brown's fascinating Through the Eye of a Needle: Wealth, the Fall of Rome, and the Making of Christianity in the West, 350-550 AD (Princeton UP, 2014) chronicles the changing conceptions of wealth and treasure in late antiquity and the first centuries of Christianity. For our 2020 series in the rise of money (we also spoke to Thomas Piketty and Christine Desan) Brown related the emergence, in the 3rd and 4th century AD, of striking new ideas about charity and how to include the poor inside a religious community.Brown explains the importance of civic euergetism in the Greek and Roman worldview–i.e. benefaction and charity strictly confined to the good of the city.In early Christianity, this was replaced by compensatory almsgiving by the rich to benefit the lowly poor, or beggars. That notion of the rich being “less likely to enter heaven than a camel going through the eye of a needle”–that, says Brown, “was Jesus at its wildest.” Augustine even preached about almsgiving as “like a traveller’s check” that let the rich bank up credit in heaven.But most crucial of all to Brown’s argument about changed ideas of wealth is that Christianity initiated the world-transformational notion of corporate identity. Before Oxford, before the East India Company, before IBM, the “managerial Bishop” (Brown’s brilliant coinage) is not wealthy in his own right, but is an agent of “impersonal continuity.”.Brown thinks Foucault got this kind of “pastoralism” in Church leaders partially right. But Foucault–“an old fashioned Catholic in many ways” Brown remarks slyly–underestimated the desire of the Christian community to designate a “consumer-driven” church hierarchy in which they can invest.Pressed on the question of resonance to our own day, Brown (as a “good semi-Durkheimian of the Mary Douglas variety”) stresses that “these are almost incommensurable societies.” And he does note an ominous Roman parallel in present-day “personalization of power”–understanding the odious Putin by reading Seneca. Nonetheless, Brown makes clear his enduring admiration for Late Antiquity–compared to classical Greece and perhaps to our own day–because of its “remarkable tolerance for anomaly.” Brown has that too, more power to him!Mentioned in the Episode Peter Brown, Body and Society (1968) Peter Brown,. Augustine of Hippo: A Biography (1968) Peter Brown, The Cult of the Saints (1981) Peter Brown, The Ransom of the Soul (2015) Evelyne Patlagean, Pauvreté économique et pauvreté sociale à Byzance, 4e-7e siè (Economic Poverty and Social Poverty) Augustine, Confessions (c. 400 AD and many other works available here ) Michel Foucault, Security, Territory, Population: Lectures at the Collège de France, 1977–1978 (on priests and the importance of the pastoral or shepherding metaphor) George Lakoff and Michael Johnson, Metaphors We Live By Seneca, Letters from a Stoic Listen and Read Here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Forged in Genocide traces the early history of colonial capitalism in Namibia with a central focus on migrants who came to be key to the economy during and as a result of the German genocide of the Herero and Nama (1904-1908). It posits that Namibia, far from being a colonial backwater of the early 20th century, became highly integrated into the labor flows and economies of West and Southern Africa, and even for a time was one of the most sought-after regions for African migrants because of relatively high wages and numerous opportunities resulting from the war's demographic devastation paired with an economic frenzy following the discovery of diamonds. In highlighting the life stories of migrants in Namibia from regions as diverse as the Kru coast of Liberia, the Eastern Cape of South Africa, and the Ovambo polities of Northern Namibia, this work integrates micro-history into larger African continental trends. Building off of written sources from migrants themselves and utilising the Namibian Worker Database constructed for this project, this book explores the lives of workers in early colonial Namibia in a way that has hereto not been attempted. Learn more about your ad choices. Visit megaphone.fm/adchoices

Every year between 1998 to 2020 except one, Louisiana had the highest per capita rate of incarceration in the nation and thus the world. Prison Capital: Mass Incarceration and Struggles for Abolition Democracy in Louisiana (University of North Carolina Press, 2023) is the first detailed account of Louisiana's unprecedented turn to mass incarceration from 1970 to 2020.Through extensive research, Dr. Lydia Pelot-Hobbs illuminates how policy makers enlarged Louisiana's carceral infrastructures with new prisons and jail expansions alongside the bulking up of police and prosecutorial power. At the same time, these infrastructures were the products of multiscalar crises: the swings of global oil capitalism, liberal federal court and policy interventions, the rise of neoliberal governance and law-and-order austerity, and racist and patriarchal moral panics surrounding "crime." However, these crises have also created fertile space for anticarceral social movements. From incarcerated people filing conditions of confinement lawsuits and Angola activists challenging life without parole to grassroots organizers struggling to shrink the New Orleans jail following Hurricane Katrina and LGBTQ youth of color organizing against police sexual violence, grassroots movements stretch us toward new geographies of freedom in the lineage of abolition democracy.Understanding Louisiana's carceral crisis extends our understanding of the interplay between the crises of mass criminalization and racial capitalism while highlighting the conditions of possibility for dismantling carceral power in all its forms.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

Painting US Empire: Nineteenth-Century Art and Its Legacies (University of Chicago Press, 2025) by Dr. Maggie Cao is the first book to offer a synthetic account of art and US imperialism around the globe in the nineteenth century. In this work, art historian Dr. Cao crafts a nuanced portrait of nineteenth-century US painters’ complicity with and resistance to ascendant US imperialism, offering eye-opening readings of canonical works, landscapes of polar expeditions and tropical tourism, still lifes of imported goods, genre paintings, and ethnographic portraiture.Revealing how the US empire was “hidden in plain sight” in the art of this period, Dr. Cao examines artists including Frederic Edwin Church and Winslow Homer who championed and expressed ambivalence toward the colonial project. She also tackles the legacy of US imperialism, examining Euro-American painters of the past alongside global artists of the present. Pairing each chapter with reflections on works by contemporary anticolonial artists including Tavares Strachan, Nicholas Galanin, and Yuki Kihara, Dr. Cao addresses important contemporary questions around representation, colonialism, and indigeneity. This book foregrounds an underacknowledged topic in the study of nineteenth-century US art and illuminates the ongoing ecological and economic effects of the US empire.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

Unruly Labor: A History of Oil in the Arabian Sea (Stanford UP, 2024) by Andrea Wright offers a critical and nuanced examination of the labor regimes that sustain the oil economies of the Arabian Peninsula. Challenging dominant narratives centered on state-building, elite wealth, and resource control, Wright focuses on the transnational laborers whose work has been essential to the region’s economic development. She explores how oil extractive economies depend not only on physical resources but also on the regulation, mobility, and discipline of migrant workers, particularly those from South Asia.The book traces the histories of labor migration across the Arabian Sea, revealing how colonial legacies, neoliberal policies, and contemporary state practices shape the lives of migrant workers. Wright argues that rather than being passive victims of state control, these workers navigate complex systems of power, leveraging networks and strategies to resist exploitation. From recruitment agencies in India to labor camps in the Gulf, she uncovers how workers contest the structures designed to discipline them—sometimes subtly, through everyday acts of defiance, and sometimes through overt resistance.At the heart of Unruly Labor is a critique of how oil economies function not just through the material extraction of petroleum but through the extraction of labor itself. Wright draws on ethnographic research, archival sources, and interviews to illustrate the racialized and gendered hierarchies embedded in these labor systems. She examines how Gulf states, in collaboration with sending countries, enforce restrictive labor policies that render migrants both essential and disposable. Yet, despite these constraints, migrants carve out spaces of agency, forging solidarity and alternative futures within and beyond the oil economy.By linking the history of oil to the lived experiences of laborers, Wright offers a compelling intervention in studies of the Gulf, labor migration, and global capitalism. Unruly Labor is essential reading for scholars of anthropology, history, and political economy, as well as anyone interested in the hidden forces that sustain global energy markets. Learn more about your ad choices. Visit megaphone.fm/adchoices

Becoming couture: The Italian fashion industry after the Second World War (Manchester University Press, 2024) by Dr. Chiara Faggella is the first book to examine the history of the Italian fashion industry during the global transition brought about by the Second World War. It draws on a wide range of primary sources, some of them newly unearthed, to demonstrate that the Italian fashion industry in the Republican era continued to rely on business practices and professionals established during Fascism. Analysing changes in promotional discourses and press coverage, the book traces the shift that occurred when manufacturers were encouraged to expand their exports of accessories to include sportswear, knitwear and moda boutique. This ultimately led to the legitimisation of Italian dressmaking as creatively independent of French influences and therefore worthy of the label 'couture'.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