New Books in Economic and Business History

Why did khadi become so central to India’s freedom struggle? How did it evolve into an international trademark – and what does khadi signify in India today? In this episode, Kenneth Bo Nielsen talks to Subhadeep Chowdhury about the political, cultural, and economic importance of khadi, the famous handspun and woven natural fiber cloth that we often associate with Mahatma Gandhi, but which is also an international trademark and part of the world of contemporary Indian fashionSubhadeep Chowdhury is a Doctoral Research Fellow at the Department of Archaeology, Conservation and History, at the University of Oslo. He is currently finishing his dissertation that is provisionally titled “Made in Imperialism: An International History of Textiles and India’s Quest for Trademark Law 1877–1947.”Kenneth Bo Nielsen is a social anthropologist based at the University of Oslo, and one of the Leaders of the Norwegian Network for Asian Studies. Learn more about your ad choices. Visit megaphone.fm/adchoices

In 1817, in a region of the eastern coast of British India then known as Cuttack, a group of Paiks, the area's landed militia, began agitating against the East India Company's government, burning down government buildings and looting the treasury. While the attacks were initially understood as an attempt to return the territory's native ruler to power, investigations following the rebellion's suppression traced the cause back to the introduction of a model of revenue governance unsuited to local conditions. Elsewhere in British India, throughout the first half of the nineteenth century, interregional debates over revenue settlement models and property disputes in villages revealed an array of practices of governance that negotiated with the problem of their applicability to local conditions. And at the same time in Britain, the dominant Ricardian conception of political economy was being challenged by thinkers like Richard Jones and William Whewell, who sought to make political economy an inductive science, capable of analyzing the real world.Through analyses of these three interrelated moments in British imperial history, Upal Chakrabarti's Assembling the Local: Political Economy and Agrarian Governance in British India (U Pennsylvania Press, 2021) engages with articulations of the "local" on multiple theoretical and empirical fronts, weaving them into a complex reflection on the problem of difference and a critical commentary on connections between political economy, agrarian property, and governance. Chakrabarti argues that the "local" should be reconceptualized as an abstract machine, central to the construction of the universal, namely, the establishment of political economy as a form of governance in nineteenth-century British India.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

Japan is often imagined as a nation with a long history of whaling. In The Gods of the Sea: Whales and Coastal Communities in Northeast Japan, c.1600-2019 (Cambridge UP, 2023), Fynn Holm argues that for centuries some regions in early modern Japan did not engage in whaling. In fact, they were actively opposed to it, even resorting to violence when whales were killed. Resistance against whaling was widespread especially in the Northeast among the Japanese fishermen who worshiped whales as the incarnation of Ebisu, the god of the sea. Holm argues that human interactions with whales were much more diverse than the basic hunter-prey relationship, as cetaceans played a pivotal role in proto-industrial fisheries. The advent of industrial whaling in the early twentieth century, however, destroyed this centuries-long equilibrium between humans and whales. In its place, communities in Northeast Japan invented a new whaling tradition, which has almost completely eclipsed older forms of human-whale interactions. This title is also available as Open Access. Learn more about your ad choices. Visit megaphone.fm/adchoices

Bankers brought the global economic system to its knees in 2007 and nearly did the same in 2020. Both times, the US government bailed out the banks and left them in control. How can we end this cycle of trillion-dollar bailouts and make finance work for the rest of us? Busting the Bankers' Club confronts the powerful people and institutions that benefit from our broken financial system—and the struggle to create an alternative.Drawing from decades of research on the history, economics, and politics of banking, economist Gerald Epstein shows that any meaningful reform will require breaking up this club of politicians, economists, lawyers, and CEOs who sustain the status quo. Thankfully, there are thousands of activists, experts, and public officials who are working to do just that. Clear-eyed and hopeful, Busting the Bankers' Club: Finance for the Rest of Us (U California Press, 2024) centers the individuals and groups fighting for a financial system that will better serve the needs of the marginalized and support important transitions to a greener, fairer economy.Busting the Bankers’ Club is an eye-opening account of the failures of our financial system, the sources of its staying power, and the path to meaningful economic reform from Professor Gerald Epstein, Founding Codirector of the Political Economy Research Institute at the University of Massachusetts Amherst. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today, being authentic has become an aspiration and an imperative. The notion of authenticity shapes the consumption habits of individuals in the most diverse contexts such as food and drinks, clothing, music, tourism and the digital sphere, even leading to the resurgence of apparently obsolescent modes of production such as craft. It also significantly transforms urban areas, their local economies and development. Alessandro Gerosa's The Hipster Economy: Taste and Authenticity in Late Modern Capitalism (UCL Press, 2024) analyses this complex set of related phenomena to argue that the quest for authenticity has been a driver of Western societies from the emersion of capitalism and industrial society to today.From this premise, the book advances multiple original contributions. First, it explains why and how authenticity has become a fundamental value orienting consumers' taste in late modern capitalism; second, it proposes a novel conceptualisation of the aesthetic regime of consumption; third, the book constitutes the first detailed analysis of the resurgence of the neo-craft industries, their entrepreneurs, and the economic imaginary of consumption underpinning them, and fourth, it analyses how the hipster economy is impacting the urban space, favouring new logic of urban development with contrasting outcomes.Open-source PDF version found at this link! Jeff Adler is an ex-linguist and occasional contributor to New Books Network! Learn more about your ad choices. Visit megaphone.fm/adchoices

Through a creative focus on skin, in Experiments in Skin: Race and Beauty in the Shadows of Vietnam (Duke UP, 2021), Thuy Linh Nguyen Tu examines the ongoing influence of the Vietnam War on contemporary ideas about race and beauty. Framing skin as the site around which these ideas have been formed, Tu foregrounds the histories of militarism in the production of US biomedical knowledge and commercial cosmetics. She uncovers the efforts of wartime scientists in the US Military Dermatology Research Program to alleviate the environmental and chemical risks to soldiers' skin. These dermatologists sought relief for white soldiers while denying that African American soldiers and Vietnamese civilians were also vulnerable to harm. Their experiments led to the development of pharmaceutical cosmetics, now used by women in Ho Chi Minh City to tend to their skin, and to grapple with the damage caused by the war's lingering toxicity. In showing how the US military laid the foundations for contemporary Vietnamese consumption of cosmetics and practices of beauty, Tu shows how the intersecting histories of militarism, biomedicine, race, and aesthetics become materially and metaphorically visible on skin.Yadong Li is a PhD student in socio-cultural anthropology at Tulane University. He is interested in the anthropology of time, hope studies, and post-structuralist philosophy. If you are interested in any of these topics, feel free to contact him by email: yli88@tulane.edu / lydooooong@gmail.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

In Technofeudalism: What Killed Capitalism (Melville House, 2023), Yanis Varoufakis argues that capitalism is dead and a new economic era has begun.Insane sums of money that were supposed to re-float our economies in the wake of the financial crisis and the pandemic have ended up supercharging big tech's hold over every aspect of the economy. Capitalism's twin pillars - markets and profit - have been replaced with big tech's platforms and rents. Meanwhile, with every click and scroll, we labour like serfs to increase its power. Welcome to technofeudalism.Drawing on stories from Greek Myth and pop culture, from Homer to ​Mad Men, Varoufakis explains this revolutionary transformation: how it enslaves our minds, how it rewrites the rules of global power and ultimately what it will take overthrow it.Louisa Hann attained a PhD in English and American studies from the University of Manchester in 2021, specialising in the political economy of HIV/AIDS theatres. Learn more about your ad choices. Visit megaphone.fm/adchoices

In Visions of a Digital Nation: Market and Monopoly in British Telecommunications (MIT Press, 2024), Jacob Ward explains why the privatization of British Telecom signaled a pivotal moment in the rise of neoliberalism, and how it was shaped by the longer development and digitalization of Britain’s telecommunications infrastructure. When Margaret Thatcher sold British Telecom for £3.6 billion in 1984, it became not only, at the time, the largest stock flotation in history, but also a watershed moment in the rise of neoliberalism and deregulation. In Visions of a Digital Nation, Ward offers an incisive interdisciplinary perspective on how technology prefigured this pivot. Giving due consideration to the politicians, engineers, and managers who paved the way for this historic moment, Ward illustrates how the decision validated the privatization of public utilities and tied digital technology to free market rationales. In this examination of the national and, at times, global history of technology, Ward’s approach is sweeping. Utilizing infrastructure studies, environmental history, and urban and local history, Ward explores Britain’s nationalist and welfarist plans for a digital information utility and shows how these projects contested and adapted to the “market turn” under Margaret Thatcher. Ultimately, Visions of a Digital Nation compellingly argues that politicians did not impose neoliberalism top-down, but that technology, engineers, and managers shaped these politics from the bottom up.Jacob Ward is Assistant Professor in the History Department and Science, Technology and Society Studies Research Program at the Faculty of Arts and Social Sciences at Maastricht University. He is coeditor of Histories of Technology, the Environment and Modern Britain.Filippo De Chirico is a PhD student in History and Politics of Energy at Roma Tre University (Italy).  Learn more about your ad choices. Visit megaphone.fm/adchoices

How can we build a more equal economy? In Innovation for the Masses: How to Share the Benefits of the High-Tech Economy (U California Press, 2024), Neil Lee, a Professor of Economic Geography at the London School of Economics, explores the question of how societies have fostered and supported innovation. The book challenges conventional assumptions that innovative economies must be unequal. Drawing on 4 detailed, and critical, case studies- Switzerland, Austria, Taiwan and Sweden, the book shows how Europe has good models of innovation; how the state matters; and how innovation and shared prosperity policies are mutually reinforcing. Accessible and clearly written, the book will be essential reading across social sciences and public policy, as well as anyone wanting a blueprint for equitable economic development, Learn more about your ad choices. Visit megaphone.fm/adchoices

“Free enterprise” is an everyday phrase that connotes an American common sense. It appears everywhere from political speeches to pop culture. And it is so central to the idea of the United States that some even labeled Christopher Columbus and the Pilgrims free enterprisers. In his new book, Free Enterprise: An American History (Yale University Press, 2019), Lawrence Glickman analyses that phrase’s historical meaning and shows how it became common sense.Glickman, a historian and the Stephen and Evalyn Milman Professor in American Studies at Cornell University, traces the phrase from its many 19th-century meanings, of which abolitionists wielded a dominant one (consider the word free), to its conservative reformulation in the 1920s and 30s. He shows how “free enterprise” became the rallying cry of the business community from the 1930s to the Powell Memo in the early 70s. This book is a whirlwind tour of a keyword that has had immense rhetorical power in modern American history and that scholars have yet to critically examine. Glickman’s book provides a compelling example of how historians can study the historical construction of common sense and is a welcome contribution to intellectual history, political history, and the history of capitalism.Dexter Fergie is a PhD student of US and global history at Northwestern University. He is currently researching the 20th-century geopolitical history of information and communications networks. He can be reached by email at dexter.fergie@u.northwestern.edu or on Twitter @DexterFergie. Learn more about your ad choices. Visit megaphone.fm/adchoices