New Books in Economic and Business History

Today I talked to Klaus Buchenau about his new book From Grand Estates to Grand Corruption: The Battle Over the Possessions of Prince Albert of Thurn and Taxis in Interwar Yugoslavia (Brill, 2023).When Yugoslavia was created in 1918, noble landowners still possessed vast parts of its territory especially in the northwestern half of the country which had formerly belonged to the Habsburg Monarchy. With approximately 38,000 hectares, Prince Albert of Thurn and Taxis was the largest private owner of forests in the new kingdom. Yugoslav politicians demanded an expropriation, justifying their actions on the grounds of social and historical justice. At the same time, political and business networks attempted to appropriate the property themselves. The parties involved - Thurn and Taxis, Yugoslav officials, national and international companies - fought for their interests using various means, from lawsuits to international arbitrage and political lobbyism. Roland Clark is a Reader in Modern European History at the University of Liverpool. Learn more about your ad choices. Visit megaphone.fm/adchoices

Underlying every great city is a rich and vibrant culture that shapes the texture of life within. In The Speculative City: Art, Real Estate, and the Making of Global Los Angeles (U Minnesota Press, 2021), Susanna Phillips Newbury teases out how art and Los Angeles shaped one another’s evolution. She compellingly articulates how together they transformed the Southland, establishing the foundation for its contemporary art infrastructure, and explains how artists came to influence Los Angeles’s burgeoning definition as the global city of the twenty-first century.Pairing particular works of art with specific innovations in real estate development, The Speculative City reveals the connections between real estate and contemporary art as they constructed Los Angeles’s present-day cityscape. From banal parking lots to Frank Gehry’s designs for artists’ studios and museums, Newbury examines pivotal interventions by artists and architects, city officials and cultural philanthropists, concluding with an examination of how, in the wake of the 2008 global credit crisis, contemporary art emerged as a financial asset to fuel private wealth and urban gentrification.Bryan Toepfer, AIA, NCARB, CAPM is the Principal Architect for TOEPFER Architecture, PLLC, an Architecture firm specializing in Residential Architecture and Virtual Reality. He has authored two books, “Contractors CANNOT Build Your House,” and “Six Months Now, ARCHITECT for Life.” He is an Assistant Professor at Alfred State College and the Director of Education for the AIA Rochester Board of Directors. Always eager to help anyone understand the world of Architecture, he can be reached by sending an email to btoepfer@toepferarchitecture. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ming China in 1642 had suffered a series of disasters. Floods, and then drought had destroyed successive rice crops, sending the price of grain to astronomical levels. As one schoolteacher wrote:“There was no rice in the market to buy. Even if a dealer had grain, people passed by without asking the price. The rich were reduced to scrounging for beans or wheat, the poor for chaff or rotting garbage. Being able to buy a few pecks of chaff or bark was ecstasy.”The Ming Dynasty collapsed two years later.Timothy Brook, in his latest book The Price of Collapse: The Little Ice Age and the Fall of Ming China (Princeton University Press: 2023), points to environmental disaster as the spark that helped cause the Ming Dynasty’s fall, relying on a history of surging prices to show how the over-275 year dynasty eventually fell to the Qing.In this interview, Timothy and I talk about inflation in Ming China, how it connects to climate change, and how short-term environmental shocks can cause a market to break down.Timothy Brook is professor emeritus of history at the University of British Columbia and a fellow of the British Academy. His many books include Great State: China and the World (Harper: 2020), Mr. Selden's Map of China: Decoding the Secrets of a Vanished Cartographer (Bloomsbury Press: 2013), and Vermeer's Hat: The Seventeenth Century and the Dawn of the Global World (Bloomsbury Publishing: 2009).You can find more reviews, excerpts, interviews, and essays at The Asian Review of Books, including its review of The Price of Collapse. 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

Before becoming a financial analyst and then a portfolio manager in New York, Daniel Peris worked as a tenure-track professor of Soviet history. I sat down with Dan and talked about his painful but ultimately successful 1990s transition from academia to finance. We chatted about how historical methods and perspectives shaped Dan's unique approach to investing, a style that he has been popularizing in his books and online blogs. Dan talked about the skills he acquired during his training as a historian that helped him succeed in finance. We talked about weighing professional risk in academia and in finance, about doubts that accompanied Dan's journey from one industry to another, his forthcoming book The Ownership Dividend (2024), and what history grads can do to broaden their career prospects. Peris is also the author of The Strategic Dividend Investor (2011) and Getting Back to Business: Why Modern Portfolio Theory Fails Investors and How You Can Bring Common Sense to Your Portfolio (2018). His blog "History and Investing" is here. Patryk Babiracki is a historian, researcher and writer; professor & MA student advisor at the University of Texas at Arlington. PhD from Johns Hopkins. Promoter of #AppliedHistory: using historical concepts, frameworks, and methodologies to solve real-world organizational problems. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of the Economic and Business History channel I spoke with Dr. Chinmay Tumbe, Assistant Professor of Economics at the Indian Institute of Management. He was Alfred D Chandler Jr. International Visiting Scholar in Business History, Harvard Business School in 2018. Dr, Tumbe has published academic articles in Management and Organizational History and in the Journal of Management History. He has written two books, one in 2018 India Moving: A History of Migration, which talks about how people have moved in India historically, and his 2020 book the Age of Pandemics 1817-1920: How They Shaped India and the World (HarperCollins, 2020). The book argues that the period between the early nineteenth century to the early twentieth century - an age otherwise known for the worldwide spread of the industrial revolution, imperialism, and globalization - was also the 'age of pandemics'. It documents the scale of devastation caused by different pandemics, cholera, the plague, influenza, and finally Covid. The book has great resources for the classroom and for the general public such as a timeline of pandemics, striking tables such as the death toll in millions for each epidemic, and a set of photographs at the end that is definitely worth viewing.Paula De La Cruz-Fernández is a consultant, historian, and digital editor. New Books Network en español editor. Edita CEO.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Richard Vague really really cares about private-sector debt. And he thinks you should too. In A Brief History of Doom: Two Hundred Years of Financial Crises (University of Pennsylvania Press, 2019), Vague sees the rise and fall of private sector debt as the key factor explaining the cycle of economic crises experienced by developed and major developing economies over the past two centuries. The early stages of a lending cycle look and feel good. Everyone is happy, the lenders think they are smart, the borrowers feel they have everything under control. Then the lenders and borrowers take it to another level, and then another, and then it collapses, time and time again. Where are now? The good news is that debt/GDP levels aren't too bad, but in certain sectors of the economy and certain countries, they are flashing red, brightly. Read the book to find which sectors and countries. Vague makes his data available to researchers here. Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter@Back2BizBook or at http://www.strategicdividendinvestor.com Learn more about your ad choices. Visit megaphone.fm/adchoices

In 1570's New Kingdom of Granada (modern Colombia), a new generation of mestizo (half-Spanish, half-indigenous) men sought positions of increasing power in the colony's two largest cities. In response, Spanish nativist factions zealously attacked them as unequal and unqualified, unleashing an intense political battle that lasted almost two decades. At stake was whether membership in the small colonial community and thus access to its most lucrative professions should depend on limpieza de sangre (blood purity) or values-based integration (Christian citizenship). Max Deardoff's A Tale of Two Granadas: Custom, Community, and Citizenship in the Spanish Empire, 1568–1668 (Cambridge University Press, 2023) examines the vast, trans-Atlantic transformation of political ideas about subjecthood that ultimately allowed some colonial mestizos and indios ladinos (acculturated natives) to establish urban citizenship alongside Spaniards in colonial Santafé de Bogotá and Tunja. In a spirit of comparison, it illustrates how some of the descendants of Spain's last Muslims appealed to the same new conceptions of citizenship to avoid disenfranchisement in the face of growing prejudice.Ethan Besser Fredrick is a graduate student in Modern Latin American history seeking his PhD at the University of Minnesota. His work focuses on the Transatlantic Catholic movements in Mexico and Spain during the early 20th century. Learn more about your ad choices. Visit megaphone.fm/adchoices

Is the University of Chicago-blessed, "greed is good" near-term profits approach to business wearing out its welcome?James O'Toole's The Enlightened Capitalists: Cautionary Tales of Business Pioneers Who Tried to Do Well by Doing Good(HarperBusiness, 2019) is a welcome addition to the current debate about what is the right balance between the near-term profit motive and long-term social goals in running a business.O'Toole, an emeritus professor of business ethics at USC, argues that entrepreneurs have and can be financially successful and still treat their employees, partners, and customers with respect. He provides two dozen case studies of founders and leaders, ranging from Milton Hershey to Robert Wood Johnson to Herb Kelleher, who tried to do more than just make a quick buck. These pioneers believed that if they practiced a form of ethical capitalism, the profits would roll in. And they did.The challenge that O'Toole recognizes from the outset is that the culture these founders created rarely survived their own tenures at the top, and that the unrelenting pressure of the market ultimately wears down even the most well-intentioned business leader. In the end, he concludes that large publicly traded corporations face the greatest pressures, while smaller, private or trust-held businesses have an easier time of creating and sustaining a positive culture.The Enlightened Capitalists is a must read for every aspiring business leader and investor, even those who are convinced that they are on the "right" side of the debate. The judgments can shift rapidly. Even a spectacularly successful New Economy company that had for years as its motto "Don't be evil" (since replaced with "Do the right thing") can quickly end up being vilified in the media and charged by regulators for its monopoly-like behavior. As Kermit might say, it's not easy being good (or green.)Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter @Back2BizBook or at http://www.strategicdividendinvestor.com Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of the New Books in Economic and Business History is an interview with New York writer Benjamin Lorr. Benjamin Lorr is the author of Hell-Bent: Obsession, Pain, and the Search for Something Like Transcendence in Competitive Yoga, a book that explores the Bikram Yoga community and movement. His second book, The Secret Life of Groceries: The Dark Miracle of the American Supermarket is "an extraordinary investigation into the human lives at the heart of the American grocery store. The miracle of the supermarket has never been more apparent. Like the doctors and nurses who care for the sick, suddenly the men and women who stock our shelves and operate our warehouses are understood as ‘essential’ workers, providing a quality of life we all too easily take for granted. But the sad truth is that the grocery industry has been failing these workers for decades.In this page-turning expose, author Benjamin Lorr pulls back the curtain on the highly secretive grocery industry. Combining deep sourcing, immersive reporting, and sharp, often laugh-out-loud prose, Lorr leads a wild investigation, asking what does it take to run a supermarket? How does our food get on the shelves? And who suffers for our increasing demands for convenience and efficiency? In this journey: We learn the secrets of Trader Joe's success from Trader Joe himself Drive with truckers caught in a job they call "sharecropping on wheels" Break into industrial farms with activists to learn what it takes for a product to earn certification labels like "fair trade" and "free range" Follow entrepreneurs as they fight for shelf space, learning essential tips, tricks, and traps for any new food business Journey with migrants to examine shocking forced labor practices through their eyes The product of five years of research and hundreds of interviews across every level of the business, The Secret Life of Groceries is essential reading for those who want to understand our food system--delivering powerful social commentary on the inherently American quest for more and compassionate insight into the lives that provide it.Paula De La Cruz-Fernandez is a consultant, historian, and digital editor. New Books Network en español editor. Edita CEO. Learn more about your ad choices. Visit megaphone.fm/adchoices

In his first book Hungry Nation: Food, Famine, and the Making of Modern India (Cambridge University Press 2018), historian Benjamin Robert Siegel explores independent India's attempts to feed itself between the 1940s and 1970s. Following the devastating Bengal famine of 1943, hunger and malnutrition remained key issues for India's politicians, planners and citizens as a new nation sought to become self-sufficient in food production. Siegel's book follows debates on land reform, technology and native diets to understand how the food question became an entry point into larger questions of citizenship, rights and welfare, debates that continue to loom large in the battle against agrarian distress and widespread food insecurity in present-day India.Madhuri Karak holds a Ph.D. in cultural anthropology from The Graduate Center, City University of New York. Her dissertation titled "Insurgent Difference: An Ethnography of an Indian Resource Frontier” analyzed resource extraction and development as mutually constitutive logics of rule in the bauxite-rich mountains of southern Odisha, India. She tweets @madhurikarak and more of her work can be found here. Learn more about your ad choices. Visit megaphone.fm/adchoices