New Books in Economic and Business History

The whole world has a stake in India's future, and that future hinges on whether India can develop its economy and deliver for its population--now the world's largest--while staying democratic. India's economy has overtaken the United Kingdom's to become the fifth-largest in the world, but it is still only one-fifth the size of China's, and India's economic growth is too slow to provide jobs for millions of its ambitious youth. Blocking India's current path are intense global competition in low-skilled manufacturing, increasing protectionism and automation, and the country's majoritarian streak in politics. In Breaking the Mold: India’s Untraveled Path to Prosperity (Princeton UP, 2024), Raghuram Rajan and Rohit Lamba show why and how India needs to blaze a new path if it's to succeed.India diverged long ago from the standard development model, the one followed by China--from agriculture to low-skilled manufacturing, then high-skilled manufacturing and, finally, services--by leapfrogging intermediate steps. India must not turn back now. Rajan and Lamba explain how India can accelerate growth by prioritizing human capital, expanding opportunities in high-skilled services, encouraging entrepreneurship, and strengthening rather than weakening its democratic traditions. It can chart a path based on ideas and creativity even at its early stage of development.Filled with vivid examples and written with incisive candor, Breaking the Mold shows how India can break free of the stumbling blocks of the past and embrace the enormous possibilities of the future. Learn more about your ad choices. Visit megaphone.fm/adchoices

Forest fires, droughts, and rising sea levels beg a nagging question: have we lost our capacity to act on the future? Dr. Liliana Doganova’s book Discounting the Future: The Ascendancy of a Political Technology (Princeton University Press, 2024) sheds new light on this anxious query. It argues that our relationship to the future has been trapped in the gears of a device called discounting. While its incidence remains little known, discounting has long been entrenched in market and policy practices, shaping the ways firms and governments look to the future and make decisions accordingly. Thus, a sociological account of discounting formulas has become urgent.Discounting means valuing things through the flows of costs and benefits that they are likely to generate in the future, with these future flows being literally dis-counted as they are translated in the present. How have we come to think of the future, and of valuation, in such terms? Building on original empirical research in the historical sociology of discounting, Dr. Doganova takes us to some of the sites and moments in which discounting took shape and gained momentum: valuation of European forests in the eighteenth and nineteenth centuries; economic theories devised in the early 1900s; debates over business strategies in the postwar era; investor-state disputes over the nationalisation of natural resources; and drug development in the biopharmaceutical industry today. Weaving these threads together, the book pleads for an understanding of discounting as a political technology, and of the future as a contested domain.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 this episode of the CEU Press Podcast, host Andrea Talabér (CEU Press/CEU Review of Books) sat down with Per Högselius and Achim Klüppelberg to discuss their new book with CEU Press entitled, The Soviet Nuclear Archipelago: A Historical Geography of Atomic-Powered Communism (CEU Press, 2023).The book is available Open Access, click here to download.The war in Ukraine, with the exposure of nuclear power stations and the danger of atomic warfare, has made the legacy of the Soviet nuclear sector of critical importance.The two authors map the Soviet nuclear industry in a shifting historical context, making sense of a complex socio-technical and environmental history. Taking an innovative approach, this book explores the history of atomic power in the former Soviet Union using the spatial dimensions of the nuclear industry as a point of departure.Per and Achim’s book is part of our new series, CEU Press Perspectives. The series offers the latest viewpoints on both new and perennial issues, these books address a wide range of topics of critical importance today. The new series, originating from an international collection of leading authors, encourages us to look at issues from a different viewpoint, to think outside the box, and to stimulate debate.You can learn more about the series here.The CEU Press Podcast delves into various aspects of the publishing process: from crafting a book proposal, finding a publisher, responding to peer review feedback on the manuscript, to the subsequent distribution, promotion and marketing of academic books. We will also talk to series editors and authors, who will share their experiences of getting published and talk about their series or books.Interested in CEU Press’s publications? Click here to find out more here. Stay tuned for future episodes and subscribe to our podcast to be the first to be notified. Learn more about your ad choices. Visit megaphone.fm/adchoices

Founded in 1925, the John Simon Guggenheim Memorial Foundation provides support to what their current website says are "exceptional individuals in pursuit of scholarship in any field of knowledge and creation in any art form, under the freest possible conditions."In Circle of Winners: How the Guggenheim Foundation composition Awards Shaped American Music Culture (University of Illinois Press, 2023), Denise Von Glahn studies the institution between its founding and the late 1930s, with special emphasis on the music composition award. Funded by the Guggenheim mining fortune, the Foundation took early shape from the efforts of Carroll Wilson, Frank Aydelotte, and Henry Allen Moe--three Rhodes Scholars who initially struggled to envision and implement the organization's ambitious goals. One of the few groups providing support to composers before WWII, Von Glahn explains how the Foundation’s selection practices and the network that helped to shape and sustain its work impacted American classical music and picked winners in the American musical marketplace. Learn more about your ad choices. Visit megaphone.fm/adchoices

In the Shadow of War and Empire: Industrialisation, Nation-Building, and Working-Class Politics in Turkey (Brill, 2023) offers a site-specific history of Ottoman and Turkish industrialization through the lens of a mid-nineteenth-century cotton factory in the “Turkish Manchester,” the name chosen by the Ottomans for the industrial complex they built in the 1840s in Istanbul, which, in the contemporary words of one of the country’s most prominent contemporary Marxist theorists, became “the secret to and the basis of Turkish capitalism" in the 1930s.This book is available open access here. Görkem Akgöz is is a post-doc researcher at Humboldt University and a lecturer at Albert-Ludwigs-University Freiburg.Caleb Zakarin is editor at the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Confederate States of America was born in defense of slavery and, after a four-year struggle to become an independent slaveholding republic, died as emancipation dawned. Between Fort Sumter to Appomattox, Confederates bought and sold thousands African American men, women, and children. These transactions in humanity made the internal slave trade a cornerstone of Confederate society, a bulwark of the Rebel economy, and a central part of the experience of the Civil War for all inhabiting the American South.An Unholy Traffic: Slave Trading in the Civil War South (Oxford UP, 2024) shows, slave trading helped Southerners survive and fight the Civil War, as well as to build the future for which they fought. They mitigated the crises the war spawned by buying and selling enslaved people, using this commerce to navigate food shortages, unsettled gender roles, the demands of military service, and other hardships on the homefront. Some Rebels speculated wildly in human property, investing in slaves to ward off inflation and to buy shares in the slaveholding nation they hoped to create. Others traded people to counter the advance of emancipation. Given its centrality to their nationhood, Confederates went to great lengths to prolong the slave trade, which, in turn, supported the Confederacy. For those held in slavery, the surviving slave trade dramatically shaped their pursuit of freedom, inserting a retrograde movement into some people's journeys toward liberty while inspiring others to make the risky decision to escape.Offering an original perspective on the intersections of slavery, capitalism, the Civil War, and emancipation, Robert K.D. Colby illuminates the place of the peculiar institution within the Confederate mind, the ways in which it underpinned the CSA's war effort, and its impact on those attempting to seize their freedom.Omari Averette-Phillips is a doctoral student in the Department of History at UC Davis. He can be reached at omariaverette@gmail.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

In 1647, the French author Étienne Cleirac asserted in his book Les us, et coustumes de la mer that the credit instruments known as bills of exchange had been invented by Jews. In The Promise and Peril of Credit: What a Forgotten Legend about Jews and Finance Tells Us about the Making of European Commercial Society (Princeton University Press, 2019), Francesca Trivellato draws upon the economic, cultural, intellectual, and business history of the period to trace the origin of this myth and what its usage in early modern Europe reveals about contemporary views of both commerce and Judaism. Trivellato begins by explaining the development of bills of exchange in the Middle Ages as a means of transferring funds across long distances, ones which helped the expansion of international trade. Though used by both Christians and Jews, concerns about crypto-Judaism among converted Christians in the town of Bordeaux where Cleirac lived may have been key to his belief in their association with the bills. From Cheirac’s book the myth then spread throughout much of western and central Europe during the 18th and 19th centuries, where it was used both to support anti-Semitic views and as examples by philo-Semitic writers such as Montesquieu of the superior commercial ability of Jews. Learn more about your ad choices. Visit megaphone.fm/adchoices

Decisions to go to war are often framed in cost-benefit terms, and typically such assessments do not factor in longer term costs. However, recent dramatic improvements in American military medicine have had an unanticipated effect: saving more soldiers' lives has vastly increased long-term, downstream costs of war with profound consequences for global politics in an era of heightened great power competition.In Military Medicine and the Hidden Costs of War (Oxford UP, 2024), Tanisha Fazal traces the modern history of medical treatment and casualty rates in American conflicts from the Civil War to the more recent counterinsurgency wars. As she shows, wars became increasingly survivable for wounded troops, to the point now where a large majority of wounded soldiers survive. Yet the human and financial implications of this steep increase in the wounded-to-killed ratio are dramatic, and her powerful analysis of this shift provides a necessary corrective to how we understand the costs of war. For each major conflict, Fazal analyzes the weapons used, injuries sustained, and policies put in place for veterans' care and pensions. As she argues, these improvements have significant financial and deeply personal implications for the returned wounded and their families, as well as the US government and its citizenry. Fazal's analysis highlights the significance of policymakers underestimating the costs of war, which in turn makes it easier both to initiate and continue military action abroad, contributing to Americas' penchant for engaging in so-called "endless wars."Tanisha Fazal is a Professor of Political Science at the University of Minnesota. Her scholarship focuses on sovereignty, international law, and armed conflict. In addition to her new book, she is the author of two award-winning books and numerous articles in academic and policy journals. From 2021-2023, she was an Andrew Carnegie FellowLamis Abdelaaty is an associate professor of political science at the Maxwell School of Syracuse University. She is the author of Discrimination and Delegation: Explaining State Responses to Refugees (Oxford University Press, 2021). Email her comments at labdelaa@syr.edu Learn more about your ad choices. Visit megaphone.fm/adchoices

The astonishing behind-the-scenes story of the 1963 film Cleopatra and how it changed the face of Hollywood makes it one of the most fabled films of all time. Starring Elizabeth Taylor and Richard Burton, the film’s making soon became a cautionary tale, for the lavish extravagance of production on Cleopatra all but bankrupted 20th Century Fox and almost singlehandedly set in motion the decline of the major Hollywood movie studios. By the time the film was finally released, 20th Century Fox and the world watched as it died at the box office. Cleopatra and the Undoing of Hollywood: How One Film Almost Sunk the Studios (History Press, 2023) is an epic tale of love and lust, gossip, money, sex, movie-star madness, studio politics, and the birth of paparazzi journalism. Within the saga of Cleopatra lies the end of the era of Hollywood's studio system, the seeds of the Swinging Sixties, and the stuff of timeless movie legend.Patrick Humphries has been a writer and journalist for over forty years and has published numerous books on musical artists such as the Rolling Stones, Bob Dylan, Elton John, Pink Floyd, and Bruce Springsteen.Latoya Johnson is an editor, writer, and bibliophile with a master's in Humanities. Her research and writing delve into various aspects of popular culture. She is particularly interested in exploring the public history of women's fiction and the portrayal of femme characters in Greco-Roman mythology. Learn more about your ad choices. Visit megaphone.fm/adchoices

In many countries, property law grants equal rights to men and women. Why, then, do women still accumulate less wealth than men? Combining quantitative, ethnographic, and archival research, The Gender of Capital: How Families Perpetuate Wealth Inequality (Harvard UP, 2023) explains how and why, in every class of society, women are economically disadvantaged with respect to their husbands, fathers, and brothers. The reasons lie with the unfair economic arrangements that play out in divorce proceedings, estate planning, and other crucial situations where law and family life intersect.Céline Bessière and Sibylle Gollac argue that, whatever the law intends, too many outcomes are imprinted with unthought sexism. In private decisions, old habits die hard: families continue to allocate resources disproportionately to benefit boys and men. Meanwhile, the legal profession remains in thrall to assumptions that reinforce gender inequality. Bessière and Gollac marshal a range of economic data documenting these biases. They also examine scores of family histories and interview family members, lawyers, and notaries to identify the accounting tricks that tip the scales in favor of men.Women across the class spectrum—from poor single mothers to MacKenzie Scott, ex-wife of Amazon billionaire Jeff Bezos—can face systematic economic disadvantages in divorce cases. The same is true in matters of inheritance and succession in family-owned businesses. Moreover, these disadvantages perpetuate broader social disparities beyond gender inequality. As Bessière and Gollac make clear, the appropriation of capital by men has helped to secure the rigid hierarchies of contemporary class society itself.Céline Bessière is Professor of Sociology at the University of Paris-Dauphine.Sibylle Gollac is a researcher in sociology at the National Centre for Scientific Research. 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