New Books in Economic and Business History

Sophia Rosenfeld, a history professor at the University of Pennsylvania and author of "The Age of Choice," dives into the fascinating evolution of choice as a symbol of freedom. She discusses how the abundance of choices today has transformed our understanding of personal and political freedom. Exploring the historical roots, from its impact on women's autonomy to its role in American democracy, she reveals the paradoxes of choice, including the anxiety it causes amidst overwhelming options, and how it shapes our modern struggles for rights.

Historian Sarah E. Bond retells the traditional story of Ancient Rome, revealing how groups of ancient workers unified, connected, and protested as they helped build an empireFrom plebeians refusing to join the Roman army to bakers withholding bread, this is the first book to explore how Roman workers used strikes, boycotts, riots, and rebellion to get their voices—and their labor—acknowledged. Sarah E. Bond explores Ancient Rome from a new angle to show that the history of labor conflicts and collective action goes back thousands of years, uncovering a world far more similar to our own than we realize.Workers often turned to their associations for solidarity and shared identity in the ancient world. Some of these groups even negotiated contracts, wages, and work conditions in a manner similar to modern labor unions. As the world begins to consider the value—and indeed the necessity—of unionization to protect workers, Strike: Labor, Unions, and Resistance in the Roman Empire (Yale UP, 2024) demonstrates that we can learn valuable lessons from ancient laborers and from attempts by the Roman government to limit their freedom.New Books in Late Antiquity is presented by Ancient Jew ReviewSarah E. Bond is the Erling B. “Jack” Holtsmark Associate Professor in the Classics in the Department of History at the University of Iowa. She is the author of Trade and Taboo: Disreputable Professions in the Roman Mediterranean. She lives in Iowa City, IA.Michael Motia teaches in Classics and Religious Studies at UMass Boston Learn more about your ad choices. Visit megaphone.fm/adchoices

As Wall Street swooned and boomed through the last decade, our livelihoods have—now more than ever—come to rely upon the good sense and risk appetites of a few standout investors. And amidst the BlackRocks, Vanguards, and Berkshire Hathaways stands arguably the most iconoclastic of them all: SoftBank’s Masayoshi Son.In Gambling Man: The Wild Ride of Japan’s Masayoshi Son (Atria, 2024), the first Western biography of Son, the self-professed unicorn hunter, we go behind the scenes of the world’s most monied halls of power in New York, Tokyo, Silicon Valley, Saudi Arabia, and beyond to see how Son’s firm SoftBank has defied conventional wisdom and imposing odds to push global tech and commerce into the future.From the dizzying highs of Uber, DoorDash, and Slack to the epic lows of WeWork and tech-infused dogwalking app Wag Son and SoftBank have been at the center of cutting-edge capitalism’s absolute peaks and valleys. In the process, Son, son of a pachinko kingpin who grew up in a slum in Japan, has been a hero, a villain, and even a meme-ified hero to the internet tech- and finance-bro set all at once.Based on in-depth research and eye-opening interviews, Gambling Man is an unforgettable character study and alarming true story of twenty-first-century commerce that will stick with you long after you turn the final page.Lionel Barber is the former editor of the Financial Times. As editor, he interviewed many of the world’s leaders in business and politics, including US Presidents Barack Obama and Donald Trump, Russian President Vladimir Putin, Chancellor Angela Merkel of Germany, and Indian Prime Minister Narendra Modi. Barber has co-written several books and has lectured widely on foreign policy, transatlantic relations, and economics. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this engaging interview, young scholar Dr, Joel Z. Garrod explains his book's main argument, with a personal touch. In Royal Histories: The Transformation of the Royal Bank of Canada, 1864-2022 (U Toronto Press, 2025), Garrod presents a historical analysis of the Royal Bank of Canada, illustrating how Canadian capitalism and the Canadian banking industry have transformed as they have consolidated nationally and expanded abroad. Emphasizing how national institutions and rules are increasingly becoming capabilities for transnational forms of capital accumulation, the book draws on extensive primary and secondary sources to document the transformation of the assemblage of territory, authority, and rights that have supported the bank’s activities over time. Linking the bank’s history to the policy regimes of the welfare state and neoliberalism, Garrod contends that our present period of globalization severely limits the extent to which nation-states can absorb capitalist crises or be a site of successful social reform. Connecting the Canadian experience to the wider transformation of global capitalism, Royal Histories illuminates the effects of globalization and the changing landscape of banking and finance. Learn more about your ad choices. Visit megaphone.fm/adchoices

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

When we talk about debt and its impact on our economy, we almost always mean “government debt.” However, this is only a small part of the picture: individuals, private firms, and households owe trillions, and these private debts are vital to understanding the economy.In The Paradox of Debt: A New Path to Prosperity Without Crisis (U Pennsylvania Press, 2023), Richard Vague examines the assets, liabilities, and incomes of the entire country, private and public sector, to reveal its net worth. His holistic analysis shows that the real factor that drives both financial crises and spiraling inequality—but also, paradoxically, economic growth—is ever rising private debt. The paradox is that while debt is essential and our economy relies on it, it also brings instability unless it is periodically deleveraged—and that is very hard to do. It can, however, be carefully managed, and Vague ends the book by showing how to do so in policy areas ranging from trade and housing to financial policy and student debt.Underpinned by pioneering data analysis and the author’s lifetime of experience in the financial world, this book is essential for anyone who wants to understand the deep, underlying dynamics of the American economy.Following a career that has spanned fields as varied as banking, energy, credit, and the arts, Richard Vague has recently served as Secretary of Banking and Securities for the Commonwealth of Pennsylvania. He is the author of numerous books, including An Illustrated Business History of the United States, also available from the University of Pennsylvania Press. 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

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

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

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