New Books in Economic and Business History

In this colorful book, historian Sudev Sheth traces how a family of diamond dealers deployed wealth to play off political leaders and survive the collapse of the Mughal Empire. The story highlights the unique role played by Jain and Hindu bankers in the daily affairs of Islamic, Hindu, and early colonial forms of Indian government.Bankrolling Empire: Family Fortunes and Political Transformation in Mughal India (Cambridge UP, 2024) features brazen emperors, sickly princes, irate governors, and quick-witted matriarchs who commanded banking networks across cities. It explores unlikely rivalries, flaky friendships, and daring tycoons who gambled vast sums as a way to hedge against political uncertainty.Sheth employs unconventional sources to tap into the thrilling lives of moneyed persons. Excerpts from Persian diaries, Gujarati poems, French trading manuals, Marathi letters, Sanskrit hymns, and Dutch shipping records tell new tales and are presented in English translation for the very first time.Spanning several political dynasties and still thriving today as a billion-dollar family firm in its fourteenth generation, the entrepreneurs featured in this book help us see state power and social change through fresh eyes. How did capitalists outsmart politicians, and what insights can we gain for our own times?You can get 20% off the price of this book with code BRE2023 at Cambridge University Press.Brittany Puller is a PhD candidate in the department of Asian Languages and Cultures at the University of Michigan. Her dissertation examines caste, kinship, and community in the making of Sikh misls in eighteenth-century Punjab.Arighna Gupta is a doctoral candidate in history at the University of Michigan, Ann Arbor. His dissertation attempts to trace early-colonial genealogies of popular sovereignty located at the interstices of monarchical, religious, and colonial sovereignties in India and present-day Bangladesh. Learn more about your ad choices. Visit megaphone.fm/adchoices

Pet Revolution: Animals and the Making of Modern British Life (Reaktion Books, 2023) tracks the British love affair with pets over the last two centuries, showing how the kinds of pets we keep, as well as how we relate to and care for them, has changed radically. The book describes the growth of pet foods and medicines, the rise of pet shops, and the development of veterinary care, creating the pet economy. Most importantly, pets have played a powerful emotional role in families across all social classes, creating new kinds of relationships and home lives.For the first time, through a history of companion animals and the humans who lived with them, this book puts the story of the ‘pet revolution’ alongside other revolutions – industrial, agricultural, political – to highlight how animals contributed to modern British life.Jane Hamlett is professor of modern British history at Royal Holloway, University of London. Her books include Material Relations: Middle-Class Families and Domestic Interiors in England, 18501910.Julie-Marie Strange is professor of modern British History at Durham University. Her books include The Invention of the Modern Dog: Breed and Blood in Victorian Britain.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

The Port Authority of New York and New Jersey is everywhere in the New York metropolitan area. Founded in 1921, its portfolio includes airports, marine terminals, bus stations, bridges, tunnels, and real estate. But its history is not widely known and its inner workings are little understood by people who traverse its domain when they fly into John F. Kennedy International Airport, ride the PATH trains from New York to New Jersey, or drive across the George Washington Bridge.Mobilizing the Metropolis: How the Port Authority Built New York (U Michigan Press, 2023), by Philip Mark Plotch and Jen Nelles, aims to fill this gap in public knowledge with a history of the Port Authority. Spanning 100 years, Mobilizing the Metropolis closely charts the evolution of the Port Authority as it went from improving rail freight around New York Harbor to building bridges and managing real estate. At the same time, the book explores the evolution of the authority’s internal culture in the face of actions by elected officials in New York and New Jersey that have reduced the agency’s autonomy and affected its operations. Mobilizing the Metropolis also extracts from the history of the Port Authority useful lessons about how organizations charged with solving governmental problems can win support and engage opposition.Robert W. Snyder is Manhattan Borough Historian professor emeritus of Journalism and American Studies at Rutgers University. He is completing an oral history of the COVID-19 pandemic in New York City for Cornell University Press. He can be reached at rwsnyder@rutgers.edu. Learn more about your ad choices. Visit megaphone.fm/adchoices

The anti-tax movement is "the most important overlooked social and political movement of the last half century", according to our guest Michael J. Graetz. In his book The Power to Destroy: How the Antitax Movement Hijacked America (Princeton UP, 2024), Graetz chronicles the movement from a fringe theory promoted by zealous outsiders using false economic claims and thinly veiled racist rhetoric to a highly organized mainstream lobbying force, funded by billionaires, that dominates and distorts politics. Building on vague and disproven theories about "supply side" economics, the movement has undermined long-held beliefs that taxes are a reasonable price to pay for civil society, sound infrastructure, national security, and shared prosperity. Leaders have attacked the IRS, protected tax loopholes, and pushed aggressively for tax cuts from Ronald Reagan to Donald Trump. Also known as "trickle-down" or "voodoo" economics, these theories falsely claim that tax cuts will pay for themselves, when in fact they have led to the need for increased debt, including massive foreign debt, to pay for critical national investments. The antitax movement has expanded to include anti-government ideas and now, as told by Graetz, threatens the nation’s social safety net, increases inequality, saps American financial strength, and undermines the status of the US dollar.In 1819, Chief Justice John Marshall declared that the power to tax entails “the power to destroy.” In this book Graetz argues that it is the antitax movement itself that wields this destructive power. Suggested reading: Cloud Cuckoo Land, by Anthony Doerr Learn more about your ad choices. Visit megaphone.fm/adchoices

Free time, one of life’s most precious things, often feels unfulfilling. But why? And how did leisure activities transition from strolling in the park for hours to “doomscrolling” on social media for thirty minutes?Today, despite the promise of modern industrialization, many people experience both a scarcity of free time and a disappointment in it. Free Time: The History of an Elusive Ideal (NYU Press, 2024) by Dr. Gary Cross offers a broad historical explanation of why our affluent society does not afford more time away from work and why that time is often unsatisfying. Dr. Cross explores the cultural, social, economic, and political history, especially of the past 250 years to understand the roots of our conceptions of free time and its use. By the end of the nineteenth century, a common expectation was that industrial innovations would lead to a progressive reduction of work time and a subsequent rise in free time devoted to self-development and social engagement. However, despite significant changes in the early twentieth century, both goals were frustrated, thus leading to the contemporary dilemma.Dr. Cross touches on leisure of all kinds, from peasant festivals and aristocratic pleasure gardens to amusement parks, movie theatres and organised sports to internet surfing, and even the use of alcohol and drugs. This wide-ranging cultural and social history explores the industrial-era origins of our modern obsession with work and productivity, but also the historical efforts to liberate time from work and cultivate free time for culture. Insightful and informative, this book is sure to help you make sense of your own relationship to free time.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 1290, Jews were expelled from England and subsequently largely expunged from English historical memory. Yet for two centuries they occupied important roles in mediaeval English society. England’s Jews revisits this neglected chapter of English history—one whose remembrance is more important than ever today, as antisemitism and other forms of racism are on the rise.In England's Jews: Finance, Violence, and the Crown in the Thirteenth Century (University of Pennsylvania Press, 2023), Dr. John Tolan tells the story of the thousands of Jews who lived in mediaeval England. Protected by the Crown and granted the exclusive right to loan money with interest, Jews financed building projects, provided loans to students, and bought and rented out housing. Historical texts show that they shared meals and beer, celebrated at weddings, and sometimes even ended up in bed with Christians.Yet Church authorities feared the consequences of Jewish contact with Christians and tried to limit it, though to little avail. Royal protection also proved to be a double-edged sword: when revolts broke out against the unpopular king Henry III, some of the rebels, in debt to Jewish creditors, killed Jews and destroyed loan records. Vicious rumours circulated that Jews secretly plotted against Christians and crucified Christian children. All of these factors led Edward I to expel the Jews from England in 1290. Paradoxically, Dr. Tolan shows, thirteenth-century England was both the theatre of fruitful interreligious exchange and a crucible of European antisemitism. 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

This provocative and interesting book has received considerable attention. Roaring reviews and interviews include  The Financial Times (UK), The Telegraph (UK), Modem (Radio Switzerland Italian), Hufftington Post (Italy), El Diario (Spain), ABC (Australia), History Today (UK), The New Republic (USA), The New Yorker (USA), among others around the world.During the interview, Alfani tells of the challenges of putting together. Also, how the book builds on prior research and his interests in diverse fields in social sciences. About the book:How the rich and the super-rich throughout Western history accumulated their wealth, behaved (or misbehaved) and helped (or didn't help) their communities in times of crisis.The rich have always fascinated, sometimes in problematic ways. Medieval thinkers feared that the super-rich would act 'as gods among men'; much more recently Thomas Piketty made wealth central to discussions of inequality. In this book, Guido Alfani offers a history of the rich and super-rich in the West, examining who they were, how they accumulated their wealth and what role they played in society. Covering the last thousand years, with frequent incursions into antiquity, and integrating recent research on economic inequality, Alfani finds--despite the different paths to wealth in different eras--fundamental continuities in the behaviour of the rich and public attitudes towards wealth across Western history. His account offers a novel perspective on current debates about wealth and income disparity.Alfani argues that the position of the rich and super-rich in Western society has always been intrinsically fragile; their very presence has inspired social unease. In the Middle Ages, an excessive accumulation of wealth was considered sinful; the rich were expected not to appear to be wealthy. Eventually, the rich were deemed useful when they used their wealth to help their communities in times of crisis. Yet in the twenty-first century, Alfani points out, the rich and the super-rich--their wealth largely preserved through the Great Recession and COVID-19--have been exceptionally reluctant to contribute to the common good in times of crisis, rejecting even such stopgap measures as temporary tax increases. History suggests that this is a troubling development--for the rich, and for everyone else. Learn more about your ad choices. Visit megaphone.fm/adchoices

Deng Xiaoping’s 1992 Southern Tour has become a milestone in Chinese economic history. Historians and commentators credit Deng’s visit to Guangzhou Province for reinvigorating China’s market reforms in the years following 1989—leading to the Chinese economic powerhouse we see today.Journalist Jonathan Chatwin follows Deng’s journey in The Southern Tour: Deng Xiaoping and the Fight for China's Future (Bloomsbury Academic, 2024). Chatwin follows Deng—from its start in Wuhan, through the Special Economic Zones of Shenzhen and Zhuhai, and back up to Shanghai—and explains how a savvy Deng, then out of office, got China’s leaders to embrace market reforms again.Jonathan Chatwin is a non-fiction writer and journalist. His work has appeared in CNN, the South China Morning Post and the BBC. He is the author of Long Peace Street: A Walk in Modern China (Manchester University Press: 2019) and Anywhere Out of the World: The Work of Bruce Chatwin (Manchester University Press: 2012).Catch our first interview with Jonathan on Long Peace Street here!You can find more reviews, excerpts, interviews, and essays at The Asian Review of Books. Follow on Twitter at @BookReviewsAsia.Nicholas Gordon is an editor for a global magazine, and a reviewer for the Asian Review of Books. He can be found on Twitter at@nickrigordon. Learn more about your ad choices. Visit megaphone.fm/adchoices

Wholesale Couture: London and Beyond, 1930-70 (Bloomsbury, 2023) by Dr. Liz Tregenza seeks to revise the notion that wholesale couturiers were simply copyists and demonstrate the complexities of their design processes and business strategies. This term has fallen out of usage; however, it was used to describe the pinnacle of the British ready-to-wear fashion industry between the 1930s and 1960s. Companies within this sector have typically been recognised as creators of high-quality copies of French haute couture, using ready-to-wear techniques.Dr. Tregenza traces wholesale couture garments from concept to usage, considering design, manufacture, branding, promotion, retail and export. She looks beyond the garments produced and investigates the people behind these firms, consequently demonstrating the significant role that largely Jewish immigrants played in the development and success of this industry. The book also considers the wider social and economic factors that affected manufacturers and consumers; the effect of austerity, rationing and the Utility scheme, and the pressing need for wholesale couturiers to export their products internationally. It demonstrates that 1946 was a critical year for rebuilding and re-imagining the London fashion industry and that wholesale couturiers were at the centre of these developments. Furthermore, it reveals the impact of changing consumer purchasing power, including the burgeoning youth market, for fashion manufacturers.Offering a new perspective on British fashion history, Wholesale Couture demonstrates that these couturiers were vital in cementing London's status as a ready-to-wear fashion centre.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

Over thirty years, from 1890 to 1921, 2.5 million Jews, fleeing discrimination and violence in their homelands of Eastern Europe, arrived in the United States. Many sailed on steamships from Hamburg.This mass exodus was facilitated by three businessmen whose involvement in the Jewish-American narrative has been largely forgotten: Jacob Schiff, the managing partner of the investment bank Kuhn, Loeb & Company, who used his immense wealth to help Jews to leave Europe; Albert Ballin, managing director of the Hamburg-American Line, who created a transportation network of trains and steamships to carry them across continents and an ocean; and J. P. Morgan, mastermind of the International Mercantile Marine (I.M.M.) trust, who tried to monopolize the lucrative steamship business. Though their goals were often contradictory, together they made possible a migration that spared millions from persecution. Descendants of these immigrants included Ruth Bader Ginsburg, Estée Lauder, George Gershwin, Irving Berlin, Fanny Brice, Lauren Bacall, the Marx Brothers, David Sarnoff, Al Jolson, Sam Goldwyn, Ben Shahn, Hank Greenberg, Moses Annenberg, and many more--including Ujifusa's great grandparents. That is their legacy.Moving from the shtetls of Russia and the ports of Hamburg to the mansions of New York's Upper East Side and the picket lines outside of the notorious Triangle Shirtwaist Factory, The Last Ships from Hamburg: Business, Rivalry, and the Race to Save Russia's Jews on the Eve of World War I (HarperCollins, 2023) is a history that unfolds on both an intimate and epic scale. Meticulously researched, masterfully told, Ujifusa's story offers original insight into the American experience, connecting banking, shipping, politics, immigration, nativism, and war--and delivers crucial insight into the burgeoning refugee crisis of our own time. Learn more about your ad choices. Visit megaphone.fm/adchoices