New Books in Economic and Business History

In The Enslaved and Their Enslavers: Power, Resistance, and Culture in South Carolina, 1670-1825 (U Pennsylvania Press, 2023), Edward Pearson offers a sweeping history of slavery in South Carolina, from British settlement in 1670 to the dawn of the Civil War. For enslaved peoples, the shape of their daily lives depended primarily on the particular environment in which they lived and worked, and Pearson examines three distinctive settings in the province: the extensive rice and indigo plantations of the coastal plain; the streets, workshops, and wharves of Charleston; and the farms and estates of the upcountry. In doing so, he provides a fine-grained analysis of how enslaved laborers interacted with their enslavers in the workplace and other locations where they encountered one another as plantation agriculture came to dominate the colony.The Enslaved and Their Enslavers sets this portrait of early South Carolina against broader political events, economic developments, and social trends that also shaped the development of slavery in the region. For example, the outbreak of the American Revolution and the subsequent war against the British in the 1770s and early 1780s as well as the French and Haitian revolutions all had a profound impact on the institution’s development, both in terms of what enslaved people drew from these events and how their enslavers responded to them.Throughout South Carolina’s long history, enslaved people never accepted their enslavement passively and regularly demonstrated their fundamental opposition to the institution by engaging in acts of resistance, which ranged from vandalism to arson to escape, and, on rare occasions, organizing collectively against their oppression. Their attempts to subvert the institution in which they were held captive not only resulted in slaveowners tightening formal and informal mechanisms of control but also generated new forms of thinking about race and slavery among whites that eventually mutated into pro-slavery ideology and the myth of southern exceptionalism.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

Oliver Volckart, an expert on Germany’s first common currency, shares insights from his upcoming book. He discusses the challenges posed by multiple currencies that harmed trade and governance. Volckart highlights how competitive debasements led to the realization that a common currency was essential. He also delves into the intrigue surrounding key negotiations and interest groups from the 16th century, emphasizing the Rhine River's critical role in shaping economic dynamics. Finally, he connects historical currency developments to modern monetary policies.

An in-depth examination of the regulatory, entrepreneurial, and organizational factors contributing to the expansion and transformation of China’s supplemental education industry.Like many parents in the United States, parents in China, increasingly concerned with their children’s academic performance, are turning to for-profit tutoring businesses to help their children get ahead in school. China’s supplemental education industry is now the world’s largest and most vibrant for-profit education market, and we can see its influence on the US higher education system: more than 70% of Chinese students studying in American universities have taken test preparation classes for overseas standardized tests. The Fruits of Opportunism: Noncompliance and the Evolution of China's Supplemental Education Industry (U Chicago Press, 2022) offers a much-needed thorough investigation into this industry. This book examines how opportunistic organizations thrived in an ambiguous policy environment and how they catalyzed organizational and institutional changes in this industry.A former insider in China’s Education Industry, sociologist Le Lin shows how and why this industry evolved to become a for-profit one dominated by private, formal, nationally operating, and globally financed corporations, despite restrictions the Chinese state placed on the industry. Looking closely at the opportunistic organizations that were founded by marginal entrepreneurs and quickly came to dominate the market, Lin finds that as their non-compliant practices spread across the industry, these opportunistic organizations pushed privatization and marketization from below. The case of China’s Education Industry laid out in The Fruits of Opportunism illustrates that while opportunism leaves destruction in its wake, it can also drive the formation and evolution of a market.Professor Le Lin’s research centers on organizations, political economy, economic sociology and social stratification, especially where these areas intersect with education and healthcare in China, the U.S. and in a transnational context. His most recent book The Fruits of Opportunism: Noncompliance and the Evolution of China’s Supplemental Education Industry, was published by the University of Chicago Press won the Honorable Mention of the Asia/Transnational Book Award, American Sociological Association (ASA) in 2023. His articles and research have also appeared in journals such as Socio-Economic Review, Higher Education and Global Perspectives, and has won awards from the American Sociological Association and the Society for the Advancement of Socio-Economics.Gene-George Earle is currently a PhD candidate in Anthropology at East China Normal University in Shanghai. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Power to Persuade: Strategic Arguing at the World Trade Organization (University of Toronto Press, 2024) by Dr. Angela Geck provides an innovative and eye-opening analysis of strategic arguing as a means of power in global politics. Based on an empirical case study of arguing processes in the World Trade Organization (WTO), the book shows how discursive contexts, institutional norms and procedures, and unequal human resources condition who has the power to persuade.While accounts of arguing in international relations are typically based on a notion of arguing as a power-free mode of interaction oriented towards understanding, Dr. Geck shows how such an approach precludes the question of persuasive power. Drawing on in-depth interviews with Geneva diplomats and a document-based analysis of the negotiations on two Doha Round issues, the book examines the practices governing strategic arguing in the WTO and uncovers two sources of persuasive power: firstly, prevalent discourses and connected regime norms empower some actors over others; secondly, their ability to debate is conditioned by exclusionary procedures and unequal human resources.Offering a grounded theory of strategic arguing in trade politics, The Power to Persuade presents a novel analysis of the relationship between arguing and power.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

The dramatic inside story of the most important case in the history of sovereign debt law Unlike individuals or corporations that become insolvent, nations do not have access to bankruptcy protection from their creditors. When a country defaults on its debt, the international financial system is ill equipped to manage the crisis. Decisions by key individuals—from national leaders to those at the International Monetary Fund, from holdout creditors to judges—determine the fate of an entire national economy. A prime example is Argentina’s 2001 default on $100 billion in bonds, which stands out for its messy outcomes and outsized impact on sovereign debt markets, sovereign debt law, and IMF policy. Default: The Landmark Court Battle over Argentina's $100 Billion Debt Restructuring (Georgetown UP, 2024) is the riveting story of Argentina’s sovereign debt drama, which reveals the obscure inner workings of sovereign debt restructuring. This detailed case study describes the intense fight over the role of the IMF in Argentina’s 2005 debt restructuring and the ensuing bitter decade of litigation with holdout creditors, demonstrating that outcomes for sovereign debt are determined by a complex interplay between financial markets, governments, the IMF, the press, and the courts. This cautionary tale lays bare the institutional, political, and legal pressures that come into play when a country cannot repay its debts. It offers a deeper understanding of how global financial capitalism functions for those who work in or study debt markets, international finance, international relations, and international law.Gregory Makoff, PhD, is a senior fellow at the Harvard Kennedy School and a senior fellow at the Centre for International Governance Innovation and an expert on sovereign debt management. A former banker specializing in debt advice, liability management, and derivatives, he has also advised the US Department of the Treasury.Caleb Zakarin is editor at the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices

From Schmelt Camp to "Little Auschwitz" Blechhammer's Role in the Holocaust (Purdue UP, 2024) is the first in-depth study of the second largest Auschwitz subcamp, Blechhammer (Blachownia Śląska), and its lesser known yet significant prehistory as a so-called Schmelt camp, a forced labor camp for Jews operating outside the concentration camp system. Drawing on previously untapped archival documents and a wide array of survivor testimonies, the book provides novel findings on Blechhammer's role in the Holocaust in Eastern Upper Silesia, a formerly Polish territory annexed to Nazi Germany in the fall of 1939, where 120,000 Jews lived.Established in the spring of 1942 to construct a synthetic fuel plant, the camp's abhorrent living conditions led to the death of thousands of young Jews conscripted from the ghettos or taken off deportation convoys from Western Europe. Blechhammer was not only used for selecting parts of the Jewish ghetto population for Auschwitz, but also for killing pregnant women and babies. As an Auschwitz satellite, Blechhammer became the scene of brutal executions and massacres of prisoners refusing to go on the Death March. This microhistory unearths the far-reaching complicity of often overlooked perpetrators, such as the industrialists, factory guards, policemen, and "ordinary" civilians in these atrocities, but more importantly, it focuses on the victims, reconstructing the prisoners' daily life and suffering, as well as their survival strategies. Learn more about your ad choices. Visit megaphone.fm/adchoices

Well into the early nineteenth century, Luanda, the administrative capital of Portuguese Angola, was one of the most influential ports for the transatlantic slave trade. Between 1801 and 1850, it served as the point of embarkation for more than 535,000 enslaved Africans. In the history of this diverse, wealthy city, the gendered dynamics of the merchant community have frequently been overlooked.Vanessa S. Oliveira traces how existing commercial networks adapted to changes in the Atlantic slave trade during the first half of the nineteenth century. Slave Trade and Abolition: Gender, Commerce, and Economic Transition in Luanda (U Wisconsin Press, 2021) reveals how women known as donas (a term adapted from the title granted to noble and royal women in the Iberian Peninsula) were often important cultural brokers. Acting as intermediaries between foreign and local people, they held high socioeconomic status and even competed with the male merchants who controlled the trade. Oliveira provides rich evidence to explore the many ways this Luso-African community influenced its society. In doing so, she reveals an unexpectedly nuanced economy with regard to the dynamics of gender and authority. Learn more about your ad choices. Visit megaphone.fm/adchoices

What is money? Why are trillions of dollars, euros, pounds, and yen being printed, but not spent, and what does this reveal about the state of our society?Money, as we know it, was born in 1971 when currencies unlinked from gold. During its adolescence, money was hyperactive, causing rampant inflation. Three decades of mature growth followed. But as it reaches the age of fifty, money is changing again, and facing a figurative mid-life crisis.Zvi Schreiber's book Money, Going Out of Style: The Story of Money and the Mystery of Its Decline (2021) first offers the reader a clear understanding of economics and the role of money, by following a fictional island tribe as they develop money and an ever more sophisticated economy. The book never forgets that money is secondary to the real economy of goods, services, and tools.Armed with this deeper appreciation of money and economics, the book returns to the present day to examine money's midlife crisis: the effect of rising inequality, the puzzle of near-zero interest rates, and how this is causing money to go out of style. Learn more about your ad choices. Visit megaphone.fm/adchoices

After India gained independence in 1947, Britain reinvented its role in the global economy through nongovernmental aid organisations. Utilising existing imperial networks and colonial bureaucracy, the nonprofit sector sought an ethical capitalism, one that would equalise relationships between British consumers and Third World producers as the age of empire was ending. The Solidarity Economy: Nonprofits and the Making of Neoliberalism after Empire (Princeton University Press, 2024) by Dr. Tehila Sasson examines the role of nonstate actors in the major transformations of the world economy in the postwar era, showing how British NGOs charted a path to neoliberalism in their pursuit of ethical markets.Between the 1950s and 1990s, nonprofits sought to establish an alternative to Keynesianism through their welfare and development programs. Encouraging the fair trade of commodities and goods through microfinance, consumer boycotts, and corporate social responsibility, these programs emphasised decentralisation, privatisation, and entrepreneurship. Tehila Sasson tells the stories of the activists, economists, politicians, and businessmen who reimagined the marketplace as a workshop for global reform. She reveals how their ideas, though commonly associated with conservative neoliberal policies, were part of a nonprofit-driven endeavour by the liberal left to envision markets as autonomous and humanising spaces, facilitating ethical relationships beyond the impersonal realm of the state.Drawing on dozens of newly available repositories from nongovernmental, international, national, and business archives, The Solidarity Economy reconstructs the political economy of these markets—from handicrafts and sugar to tea and coffee—shedding critical light on the post imperial origins of neoliberalism.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 the 1970s, the Mexican government acted to alleviate rural unemployment by supporting the migration of able-bodied men. Millions crossed into the United States to find work that would help them survive as well as sustain their families in Mexico. They took low-level positions that few Americans wanted and sent money back to communities that depended on their support. But as U.S. authorities pursued more aggressive anti-immigrant measures, migrants found themselves caught between the economic interests of competing governments. The fruits of their labor were needed in both places, and yet neither country made them feel welcome.Ana Raquel Minian explores this unique chapter in the history of Mexican migration. Undocumented Lives: The Untold Story of Mexican Migration (Harvard University Press, 2018) draws on private letters, songs, and oral testimony to recreate the experience of circular migration, which reshaped communities in the United States and Mexico. While migrants could earn for themselves and their families in the U.S., they needed to return to Mexico to reconnect with their homes periodically. Despite crossing the border many times, they managed to belong to communities on both sides of it. Ironically, the U.S. immigration crackdown of the mid-1980s disrupted these flows, forcing many migrants to remain north of the border permanently for fear of not being able to return to work. For them, the United States became known as the jaula de oro—the cage of gold.Lori A. Flores is an Associate Professor of History at Stony Brook University (SUNY) and the author of Grounds for Dreaming: Mexican Americans, Mexican Immigrants, and the California Farmworker Movement.  Learn more about your ad choices. Visit megaphone.fm/adchoices