New Books in Economic and Business History

In the sixteenth century, members of the Ouchi family were kings in all but name in much of Japan. Immensely wealthy, they controlled sea lanes stretching to Korea and China, as well as the Japanese city of Yamaguchi, which functioned as an important regional port with a growing population and a host of temples and shrines. The family was unique in claiming ethnic descent from Korean kings, and-remarkably for this time-such claims were recognized in both Korea and Japan. Their position, coupled with dominance over strategic ports and mines, allowed them to facilitate trade throughout East and Southeast Asia. They also played a key cultural role in disseminating Confucian texts, Buddhist sutras, ink paintings, and pottery, and in creating a distinctive, hybrid culture that fused Japanese, Korean, and Chinese beliefs, objects, and customs.Kings in All But Name: The Lost History of Ouchi Rule in Japan, 1350-1569 (Oxford UP, 2024) illustrates how Japan was an ethnically diverse state from the fourteenth through the sixteenth centuries, closely bound by trading ties to Korea and China. It reveals new archaeological and textual evidence proving that East Asia had integrated trading networks long before the arrival of European explorers and includes an analysis of ores and slag that shows how mining techniques improved and propelled East Asian trade. The story of the Ouchi rulers argues for the existence of a segmented polity, with one center located in Kyoto, and the other in the Ouchi city of Yamaguchi. It also contradicts the belief that Japan collapsed into centuries of turmoil and rather proves that Japan was a stable and prosperous trading state where rituals, policies, politics, and economics were interwoven and diverse. Learn more about your ad choices. Visit megaphone.fm/adchoices

On July 27th, 1827, the dey of Algiers struck the French consul over his country’s refusal to pay back its debts–specifically, to two Jewish merchant families: the Bacris, and the Busnachs. It was an error of judgment: France blockaded Algiers, and later invaded, turning Algeria into a French colony.The unpaid debt has festered as a diplomatic issue for almost 30 years. Foreign consuls in the corsairing capital of Algiers sent missives back to their superiors complaining about the Bacris and Busnachs and the doggedness they had in pursuing their debts.Julie Kalman writes about these two families–and their inter-familial business dealing and squabbles–in The Kings of Algiers: How Two Jewish Families Shaped the Mediterranean World during the Napoleonic Wars and Beyond (Princeton University Press, 2023).In this interview, Julie and I talk about the Bacris and the Busnachs, the strange relationships between Algiers, Britain, France and the U.S., and what “sanctions” and “debt diplomacy” looked like in the early nineteeth century.Julie Kalman is Associate Professor of history at Monash University. She has published widely on the history of French Jewry in the nineteenth century, and in the post-war period. She is also the author of Orientalizing the Jew: Religion, Culture and Imperialism in Nineteenth-Century France (Indiana University Press: 2017), and Rethinking Antisemitism in Nineteenth-Century France (Cambridge University Press: 2010).You can find more reviews, excerpts, interviews, and essays at The Asian Review of Books, including its review of The Kings of Algiers. 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

The 2020 toppling of slave-trader Edward Colston's statue by Black Lives Matter protesters in Bristol was a dramatic reminder of Britain's role in trans-Atlantic slavery, too often overlooked. Yet the legacy of that predatory economy reaches far beyond bronze memorials; it continues to shape the entire visual fabric of the country.Architect Victoria Perry explores the relationship between the wealth of slave-owning elites and the architecture and landscapes of Georgian Britain. She reveals how profits from Caribbean sugar plantations fed the opulence of stately homes and landscape gardens. Trade in slaves and slave-grown products also boosted the prosperity of ports like Bristol, Liverpool and Glasgow, shifting cultural influence towards the Atlantic west. New artistic centers like Bath emerged, while investment in poor, remote areas of Wales, Cumbria and Scotland led to their "reimagining" as tourist destinations: Snowdonia, the Lakes and the Highlands. The patronage of absentee planters popularized British ideas of "natural scenery"--viewing mountains, rivers and rocks as landscape art--and then exported the concept of "sublime and picturesque" landscapes across the Atlantic.A Bittersweet Heritage: Slavery, Architecture and the British Landscape (Hurst, 2022) unearths the slavery-tainted history of Britain's manors, ports, roads and countryside, and powerfully explains what this legacy means today. Learn more about your ad choices. Visit megaphone.fm/adchoices

Most people rely only on their life experience to make investment decisions. This causes them to overlook cyclical forces that repeatedly reshape economies and markets. Investing in U.S. Financial History: Understanding the Past to Forecast the Future (Greenleaf, 2024) fills this void by recounting the comprehensive financial history of the United States of America. It begins with Alexander Hamilton's financial programs in 1790 and ends with the Federal Reserve's battle with inflation in 2023.Authored by Mark Higgins, an experienced investment advisor and financial historian, this book will help you:- Understand key drivers of financial crises and the principles for managing them.- Recognize warning signs of speculative manias that lead to asset bubbles.- Understand why few investors outperform market indices and why index funds are preferable for most individuals and institutions.- Identify the major threats to U.S. economic prosperity in the twenty-first century.Investing in U.S. Financial History reveals that there is almost no financial event that is unprecedented. By understanding the fundamental drivers underpinning key economic events, you will internalize investment principles, avoid common pitfalls, and resist the temptation to panic amid market volatility.Mark J. Higgins, CFA, CFP(R), has served for twelve years as a senior investment consultant advising institutional investors with more than $60 billion in assets. Learn more about your ad choices. Visit megaphone.fm/adchoices

"Luddite" has become an insult and Brain Merchant wants to change that. Blood in the Machine: The Origins of the Rebellion Against Big Tech (Little, Brown, 2023) tells the story of when machines starting taking human jobs, when an underground network of 19th century rebels, the Luddites, took up arms against the industrialists that were automating their work--and how it explains the power, threat, and toll of big tech today. Two hundred years ago in rural England, working men and women rose up en masse rather than starve at the hands of the factory owners who were using machines to erase and degrade their livelihoods. Under the banner of a mythical General Loud, they organized guerrilla raids, smashed specific machines, and threatened wealthy machine owners. Luddites won the support of Lord Byron, inspired Mary Shelley, and enraged the louche Prince Regent and his bloodthirsty government. Before it was over, much blood would be spilled--of rich and poor, of the invisible and of the powerful. This deeply misunderstood class struggle nearly brought 19th century England to its knees. Currently many fear that big tech is dominating our lives and machines replacing human labor run high. We worry that technology imperils millions of jobs, robots are ousting workers from factories, and artificial intelligence will soon remove drivers from cars. Saving the movement from what E. P. Thompson called "the enormous condescension of posterity", Merchant finds inspiration in Luddism for our current crises.Brian Merchant is the author of The One Device: The Secret History of the iPhone (2017, Little, Brown). His work has appeared in a variety of places including Wired and The Atlantic. He is a founder of VICE’s speculative fiction outlet Terraform and was the technology columnist at the Los Angeles Times. Learn more about your ad choices. Visit megaphone.fm/adchoices

A total of 305,000 enslaved Africans arrived in the New World aboard American vessels over a span of two hundred years as American merchants and mariners sailed to Africa and to the Caribbean to acquire and sell captives. Using exhaustive archival research, including many collections that have never been used before, historian Sean M. Kelley argues that slave trading needs to be seen as integral to the larger story of American slavery.In American Slavers: Merchants, Mariners, and the Transatlantic Commerce in Captives, 1644-1865 (Yale UP, 2023), Kelley examines the experience of captivity, drawing on more than a hundred African narratives to offer a portrait of enslavement in the regions of Africa frequented by American ships. Kelley also provides a social history of the two American ports where slave trading was most intensive, Newport and Bristol, Rhode Island.In telling this tragic, brutal, and largely unknown story, Kelley corrects many misconceptions while leaving no doubt that Americans were a nation of slave traders. Learn more about your ad choices. Visit megaphone.fm/adchoices

A culinary and cultural history of plant-based eating in the United States that delves into the subcultures and politics that have defined alternative food. The vegan diet used to be associated only with eccentric hippies and tofu-loving activists who shop at co-ops and live on compounds. We’ve come a long way since then. Now, fine-dining restaurants like Eleven Madison Park cater to chic upscale clientele with a plant-based menu, and Impossible Whoppers are available at Burger King. But can plant-based food keep its historical anti-capitalist energies if it goes mainstream? And does it need to? In No Meat Required: The Cultural History and Culinary Future of Plant-Based Eating (Beacon Press, 2023), author Alicia Kennedy chronicles the fascinating history of plant-based eating in the United States, from the early experiments in tempeh production undertaken by the Farm commune in the 70s to the vegan punk cafes and anarchist zines of the 90s to the chefs and food writers seeking to decolonize vegetarian food today. Many people become vegans because they are concerned about the role capitalist food systems play in climate change, inequality, white supremacy, and environmental and cultural degradation. But a world where Walmart sells frozen vegan pizzas and non-dairy pints of ice cream are available at gas stations – raises distinct questions about the meanings and goals of plant-based eating. Kennedy—a vegetarian, former vegan, and once-proprietor of a vegan bakery—understands how to present this history with sympathy, knowledge, and humor. No Meat Required brings much-needed depth and context to our understanding of vegan and vegetarian cuisine, and makes a passionate argument for retaining its radical heart. Learn more about your ad choices. Visit megaphone.fm/adchoices

Wartime is not just about military success. Economists at War: How a Handful of Economists Helped Win and Lose the World Wars (Oxford UP, 2020) tells a different story - about a group of remarkable economists who used their skills to help their countries fight their battles during the Chinese-Japanese War, Second World War, and the Cold War.1935-55 was a time of conflict, confrontation, and destruction. It was also a time when the skills of economists were called upon to finance the military, to identify economic vulnerabilities, and to help reconstruction. Economists at War focuses on the achievements of seven finance ministers, advisors, and central bankers from Japan, China, Germany, the UK, the USSR, and the US. It is a story of good and bad economic thinking, good and bad policy, and good and bad moral positions. The economists suffered threats, imprisonment, trial, and assassination. They all believed in the power of economics to make a difference, and their contributions had a significant impact on political outcomes and military ends.Economists at War shows the history of this turbulent period through a unique lens. It details the tension between civilian resources and military requirements; the desperate attempts to control economies wracked with inflation, depression, political argument, and fighting; and the clever schemes used to evade sanctions, develop barter trade, and use economic espionage. Politicians and generals cannot win wars if they do not have the resources. This book tells the human stories behind the economics of wartime.Alan Bollard is a Professor of Economics at Victoria University of Wellington, New Zealand. He formerly managed APEC, the largest regional economic integration organization in the world, and was previously the New Zealand Reserve Bank Governor, Secretary of the New Zealand Treasury, and Chairman of the New Zealand Commerce Commission. Professor Bollard is the author of Crisis: One Central Bank Governor and the Global Financial Crisis (Auckland University Press, 2013) and A Few Hares to Chase: The Life and Economics of Bill Philips (Oxford University Press, 2016).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

Showing how the history of the apple goes far beyond the orchard and into the social, cultural and technological developments of Britain and the USA, Apples and Orchards since the Eighteenth Century: Material Innovation and Cultural Tradition (Bloomsbury, 2023) by Dr. Joanna Crosby takes an interdisciplinary approach to reveal the importance of the apple as a symbol of both tradition and innovation.From the 18th century in Britain, technological innovation in fruit production and orchard management resulted in new varieties of apples being cultivated and consumed, while the orchard became a representation of stability. In America orchards were contested spaces, as planting seedling apple trees allowed settlers to lay a claim to land. In this book, Dr. Crosby explores how apples and orchards have reflected the social, economic and cultural landscape of their times. From the association between English apples and 'English' virtues of plain speaking, hard work and resultant high-quality produce, to practices of wassailing highlighting the effects of urbanisation and the decline of country ways and customs, Apples and Orchards from the Eighteenth Century shows how this everyday fruit provides rich insights into a time of significant social change.This interview was conducted by Dr. Miranda Melcher whose forthcoming 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

Kristine M. McCusker's book Just Enough to Put Him Away Decent: Death Care, Life Extension, and the Making of a Healthier South, 1900-1955 (U Illinois Press, 2023) takes, as its focus, the combined history of death and health in the American South between 1900 and 1955. The text is ambitious in scope, and weaves together multiple oral histories to create a nuanced and engaging narrative. McCusker charts the ways in which low life expectancy in the South was regarded as problematic by commercial life insurance firms, concerned that their customers were paying insufficient dues before mortality provoked funeral expenditures, and the various Churches seeking to save souls before an untimely demise robbed them of the opportunity. Both agencies were heavily invested in health care. McCusker expertly weaves further threads into this complex narrative: Southern funeral practices, the theological basis for strong belief in family re-union at death, and racial divides that created exclusions and opportunities for the Black Americans to express their own deathways, increasingly supported through commercial enterprise. Two World Wars test and refine common frameworks for organizing the dead, and McCusker underlines the importance, amongst other things, of etiquette guidance on the correct ways to grieve and to express condolence. This is a remarkably rich text that will intrigue a more general readership and prove essential to death scholars in the US and further afield. Learn more about your ad choices. Visit megaphone.fm/adchoices