New Books in Economic and Business History

In How Progress Ends: Technology, Innovation, and the Fate of Nations (Princeton University Press, 2025), Carl Benedikt Frey challenges the conventional belief that economic and technological progress is inevitable. For most of human history, stagnation was the norm, and even today progress and prosperity in the world's largest, most advanced economies--the United States and China--have fallen short of expectations. To appreciate why we cannot depend on any AI-fueled great leap forward, Frey offers a remarkable and fascinating journey across the globe, spanning the past 1,000 years, to explain why some societies flourish and others fail in the wake of rapid technological change. By examining key historical moments--from the rise of the steam engine to the dawn of AI--Frey shows why technological shifts have shaped, and sometimes destabilized, entire civilizations. He explores why some leading technological powers of the past--such as Song China, the Dutch Republic, and Victorian Britain--ultimately lost their innovative edge, why some modern nations such as Japan had periods of rapid growth followed by stagnation, and why planned economies like the Soviet Union collapsed after brief surges of progress. Frey uncovers a recurring tension in history: while decentralization fosters the exploration of new technologies, bureaucracy is crucial for scaling them. When institutions fail to adapt to technological change, stagnation inevitably follows. Only by carefully balancing decentralization and bureaucracy can nations innovate and grow over the long term--findings that have worrying implications for the United States, Europe, China, and other economies today. Through a rich narrative that weaves together history, economics, and technology, How Progress Ends reveals that managing the future requires us to draw the right lessons from the past. Carl Benedikt Frey is the Dieter Schwarz Associate Professor of AI and Work at the Oxford Internet Institute and Oxford Martin Citi Fellow at the Oxford Martin School, both at the University of Oxford. Caleb Zakarin is editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices

Americans have always fought over the meaning of freedom and equality. What is not commonly recognized is that the battles most pivotal in defining our democracy, from the framing of the Constitution to the decades-long backlash to the civil rights movement, hinged on one issue—taxes.In The Price of Democracy: The Revolutionary Power of Taxation in American History (Basic Books, 2025), Vanessa S. Williamson challenges the myth that Americans are instinctively anti-tax, revealing that fights over taxes have always been proxies for deeper conflicts over who is included in “We the People.” Poorer people have repeatedly built movements that sought to tax all Americans to create a more equal and democratic nation. Wealthy people have responded by constraining the power to tax and stifling democracy through voting restrictions, gerrymandering, and violence. Yet as hard as anti-tax crusaders have fought to create an America that redistributes not from rich to poor, but from non-white people to rich white people, the battle rages on.The Price of Democracy uncovers how fights for fiscal fairness have defined American history, delivering a powerful message to the present: that taxes are the public’s most powerful weapon in the fight for a real democracy. Learn more about your ad choices. Visit megaphone.fm/adchoices

It's easy to be pessimistic about inequality. We know it has increased dramatically in many parts of the world over the past two generations. No one has done more to reveal the problem than Thomas Piketty. Now, in this surprising and powerful new work, Piketty reminds us that the grand sweep of history gives us reasons to be optimistic. Over the centuries, he shows, we have been moving toward greater equality.In A Brief History of Equality (Harvard UP, 2022), Piketty guides us with elegance and concision through the great movements that have made the modern world for better and worse: the growth of capitalism, revolutions, imperialism, slavery, wars, and the building of the welfare state. It's a history of violence and social struggle, punctuated by regression and disaster. But through it all, Piketty shows, human societies have moved fitfully toward a more just distribution of income and assets, a reduction of racial and gender inequalities, and greater access to health care, education, and the rights of citizenship. Our rough march forward is political and ideological, an endless fight against injustice. To keep moving, Piketty argues, we need to learn and commit to what works, to institutional, legal, social, fiscal, and educational systems that can make equality a lasting reality. At the same time, we need to resist historical amnesia and the temptations of cultural separatism and intellectual compartmentalization. At stake is the quality of life for billions of people. We know we can do better, Piketty concludes. The past shows us how. The future is up to us.Javier Mejia is a Postdoctoral Research Fellow at the Political Science Department at Stanford University. Learn more about your ad choices. Visit megaphone.fm/adchoices

If the 20th Century was the American Century, it was also UPS's Century. Joe Allen's The Package King: A Rank and File History of UPS (‎Haymarket Books, 2020), tears down the Brown Wall surrounding one of America's most admired companies—the United Parcel Service (UPS). The company that we see everyday but know so little about. How did a company that began as a bicycle messenger service in Seattle, Washington become a global behemoth? How did it displace General Motors, the very symbol of American capitalism, to become the largest, private sector, unionized employer in the United States? And, at what cost to its workers and surrounding communities? Will it remain the Package King in the 21st Century or will be dethroned by Amazon?Joe Allen worked for nearly a decade at UPS between its Watertown, Massachusetts and Chicago, Illinois Jefferson Street hubs. Allen's work life has largely involved different sections of freight and logistics including for such major employers as A.P.A Transport (Canton, Mass.), Yellow Freight (Maspeth, NY), and UPS. He has been a member of several Teamster local unions and a member of Teamsters for a Democratic Union.Schneur Zalman Newfield is an Assistant Professor of Sociology at Borough of Manhattan Community College, City University of New York, and the author of Degrees of Separation: Identity Formation While Leaving Ultra-Orthodox Judaism (Temple University Press, 2020). Visit him online at ZalmanNewfield.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

For much of the late 20th century, Japanese business historians were core contributors to the global field. They published, collaborated, and shaped debates. But something shifted after 2000. Their international visibility - and participation in emerging theoretical conversations - declined. In Japan and the Great Divergence in Business History (Donzé & Umemura, 2025), the authors argue that this shift wasn’t due to a lack of scholarship, but a misalignment of frameworks. While business history globally began integrating concepts from management studies, economic sociology, political economy, and comparative capitalism, Japanese scholarship largely remained anchored in the Chandlerian paradigm: rich, rigorous firm-level histories focused on organizational growth, strategies, and industrial evolution. The consequences of this growing distance are not trivial: Fewer Japanese scholars in international research networks Reduced presence in global journals and conferences Limited cross-pollination with adjacent disciplines Underrepresentation in key theoretical debates reshaping business history Donzé, P.-Y., & Umemura, M. (2025). Japan and the Great Divergence in Business History. Journal of Evolutionary Studies in Business. Link here Hosted by Paula de la Cruz-Fernández, on behalf of the Journal of Evolutionary Studies in Business. Learn more about your ad choices. Visit megaphone.fm/adchoices

Joseph E. Stiglitz, a Nobel Prize-winning economist and Columbia University professor, dives deep into the roots of inequality, revealing how his upbringing sparked his interest in economics. He discusses how inequality stems from 'rules of the game' shaped by policies rather than being a natural phenomenon. Stiglitz highlights the role of monopoly power, the need for progressive taxation, and advocates for strong welfare policies as tools to reduce disparities. His insights challenge traditional views, offering a comprehensive approach to fostering equality and economic growth.

Peoples & Things host, Lee Vinsel, talks with Colleen Dunlavy, Emeritus Professor of History at University of Wisconsin-Madison, about her recent book, Small, Medium, Large: How Government Made the U.S. Into a Manufacturing Powerhouse. Small, Medium, Large examines the crucial role that the U.S. federal government played in rationalizing and diffusing industrial production standards, which over time greatly increased economies of scale and reduced the cost of both industrial and consumer goods. Learn more about your ad choices. Visit megaphone.fm/adchoices

Monsoon Voyagers follows the voyage of a single dhow (sailing vessel), the Crooked, along with its captain and crew, from Kuwait to port cities around the Persian Gulf and Western Indian Ocean, from 1924 to 1925. Through his account of the voyage, Fahad Ahmad Bishara unpacks a much broader history of circulation and exchange across the Arabian Sea in the time of empire. From their offices in India, Arabia, and East Africa, Gulf merchants utilized the technologies of colonial capitalism — banks, steamships, railroads, telegraphs, and more — to transform their own regional bazaar economy. In the process, they remade the Gulf itself. Drawing on the Crooked's first-person logbooks, along with letters, notes, and business accounts from a range of port cities, Monsoon Voyagers narrates the still-untold connected histories of the Gulf and Indian Ocean. The Gulf's past, it suggests, played out across the sea as much as it did the land. Monsoon Voyagers doesn’t just tell a vivid, imaginative narrative—it teaches. Each port-of-call chapter can work as a stand-alone module. And the brief “Inscription” interludes double as turn-key primary-source labs—perfect for document analysis, quick mapping, and mini-quant work with weights, measures, and credit instruments. It invites undergraduates into a connected oceanic world and the big questions of world history, while graduate students get a method—how to read vernacular archives across scales and languages to design their own transregional, archive-driven projects. A quick heads-up: Traditional local musical interludes (see below for credits and links) will punctuate our voyage as chapter markers you can use to pause and reflect—as we sail from Kuwait to the Shatt al-Arab, then out across the Gulf to Oman, Karachi, Gujarat, Bombay, and the Malabar coast. We’ll return via Muscat and Bahrain, dropping anchor once more in Kuwait. Music Credits and Links: Prologue: The Logbook1. KuwaitInscription: Debts2. The Shatt Al-ʿArabInscription: Freightage3. The GulfInscription: Passage4. The Sea of OmanInscription: Guides5. Karachi to KathiawarInscription: Letters6. BombayInscription: Transfers7. MalabarInscription: Conversions8. CrossingsInscription: Maps9. MuscatInscription: Poems10. BahrainInscription: Accounts11. ReturnsEpilogue: Triumph and Loss Learn more about your ad choices. Visit megaphone.fm/adchoices

Reformatting Agrarian Life presents a stealth urban history from the countryside that foregrounds the mutual entanglements of agrarian and urban expertise. William J. Glover traces an essential genealogy for understanding how urbanism unexpectedly left the city in late colonial India and began to settle in agrarian space, exploring how two milieus that were initially seen as distinct were gradually brought together both conceptually and in practices of ordinary life. He argues that rural change and the expert knowledge associated with managing the countryside in colonial India opened paths for urban concepts and forms to permeate agrarian settings where they were previously thought to have little relevance. This process indelibly shaped idioms and modes of agrarian life, just as it gave rural problems and processes a structural role in urban discourse. By illuminating the intellectual paths by which agrarian and urban processes came to be understood as co-constituting, and exploring multiple vivid, empirically rich case studies of projects where those relations were made evident, this book presents a compelling case to move beyond traditional intellectual silos and enter new theoretical territory to understand processes of urban and rural transformation. 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

Charles Watkins joins Jana Byars to talk about his new book, Trees Ancient and Modern (Reaktion, 2025). This delightful new book explores the relationship between trees and people and reveals how people have used, valued and understood forests over time. While trees are celebrated as symbols of natural beauty, they are increasingly at risk from climate change, disease, fires and urban expansion. Trees Ancient and Modern explores humanity’s deep connection with trees and woodlands, highlighting their beauty and importance and the challenges they face. The book looks at debates about creating new woodlands, exploring questions of location, ownership and management.Using diverse sources such as literature, art, historical records, scientific surveys and oral histories, Charles Watkins reveals how people have used, valued and understood forests over time. He also assesses modern threats to woodlands and considers how best to conserve them. Richly illustrated, this is a global social and cultural history of forests that provides valuable insights for future management. Learn more about your ad choices. Visit megaphone.fm/adchoices