New Books in Economic and Business History

The oil shock of 1973 changed everything. It brought the golden age of American and European economic growth to an end; it destabilized Middle Eastern politics; and it set in train processes that led to over one hundred million unexpected—and unwanted—immigrants.In War, Work, and Want: How the OPEC Oil Crisis Caused Mass Migration and Revolution (Oxford University Press, 2023), Dr. Randall Hansen asks why, against all expectations, global migration tripled after 1970. The answer, he argues, lies in how the OPEC Oil crisis transformed the global economy, Middle Eastern geopolitics and, as a consequence, international migration. The quadrupling of oil prices and attendant inflation destroyed economic growth in the West while flooding the Middle East with oil money. American and European consumers, their wealth drained, rebuilt their standard of living on the back of cheap labor—and cheap migrants. The Middle East enjoyed the benefits of a historic wealth transfer, but oil became a poisoned chalice leading to political instability, revolution, and war, all of which resulted in tens of millions of refugees. The economic, and migratory, consequences of the OPEC oil crisis transformed the contours of domestic politics around the world. They fueled the growth of nationalist-populist parties that built their brands on blaming immigrants for collapsing standards of living, willfully ignoring the fact that mass immigration was the effect, not the cause, of that collapse.In showing how war (the main driver of refugee flows), work (labor migrants), and want (the desire for ever cheaper products made by migrants) led to the massive upsurge in global migration after 1973, this book will reshape our understanding of the past half-century of global history.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

Environmental organising in Beijing emerged in an unlikely place in the 2000s: new gated residential communities. After rapid population growth and housing construction led to a ballooning trash problem and overflowing landfills, many first-time homeowners found their new neighbourhoods facing an unappetizing prospect—waste incinerator projects slated for their backyards.Delving into the online and offline conversations of communities affected by the proposed incinerators, A Spark in the Smokestacks: Environmental Organizing in Beijing Middle-Class Communities (Columbia University Press, 2023) by Dr. Jean Yen-chun Lin demonstrates how a rising middle class acquires the capacity for organising in an authoritarian context. Dr. Lin examines how urban residents create civic life through everyday associational activities—learning to defend property rights, fostering participation, and mobilising to address housing-related grievances. She shows that homeowners cultivated petitioning skills, informational networks, and community leadership, which they would later deploy against incinerator projects. To interact with government agencies, they developed citizen science–based tactics, a middle-class alternative to disruptive protests. Homeowners drew on their professional connections, expertise, and fundraising capabilities to produce reports that boosted their legitimacy in city-level dialogue. Although only one of the three incinerator projects Dr. Lin follows was ultimately cancelled, some communities established durable organisations that went on to tackle other environmental problems.Drawing on interviews, participant observation, and ethnography, A Spark in the Smokestacks casts urban Chinese communities as “schools of democracy,” in which residents learn civic skills and build capacity for collective organising. Through compelling case studies of local activism, this book sheds new light on the formation of civil society and social movements more broadly.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

Varieties of Capitalism Over Time (Routledge, 2022) looks at how varieties of capitalism emerge over time and across different geographies, and is comprised of submissions from scholars around the globe. Covering a wide range of territories including Europe, the Americas, Africa, and Asia across both the nineteenth and twentieth centuries, this edited volume considers the roles that the state and business working together play in the emergence of different economic systems. Whilst most analyses focus on identifying different types of capitalism, the chapters in this volume instead focus on how these different types develop, the drivers of their emergence, and the people and organisations behind the developments. The geographical spread of analyses allows the reader to delve into how different countries have managed and even created their economic systems providing comparative insights into our understanding of how different national economic models develop over time.This book was originally published as a special issue of Business History.Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoices

Regina Lee Blaszczyk and David Suisman's Capitalism and the Senses (U Pennsylvania Press, 2023) is the first edited volume to explore how the forces of capitalism are entangled with everyday sensory experience. If the senses have a history, as Karl Marx wrote, then that history is inseparable from the development of capitalism, which has both taken advantage of the senses and influenced how sensory experience has changed over time.This pioneering collection shows how seeing, hearing, tasting, smelling, and touching have both shaped and been shaped by commercial interests from the turn of the twentieth century to our own time. From the manipulation of taste and texture in the food industry to the careful engineering of the feel of artificial fabrics, capitalist enterprises have worked to commodify the senses in a wide variety of ways. Drawing on history, anthropology, geography, and other fields, the volume’s essays analyze not only where this effort has succeeded but also where the senses have resisted control and the logic of markets. The result is an innovative ensemble that demonstrates how the drive to exploit sensorial experience for profit became a defining feature of capitalist modernity and establishes the senses as an important dimension of the history of capitalism.Contributors: Nicholas Anderman, Regina Lee Blaszczyk, Jessica P. Clark, Ai Hisano, Lisa Jacobson, Sven Kube, Grace Lees-Maffei, Ingemar Pettersson, David Suisman, Ana María Ulloa, Nicole Welk-Joerger.Robin Steiner is an economic anthropologist based in Miami, FL. His published work explores economic development, labor and citizenship in Oman and the Arab Gulf. He teaches in the Department of Global and Sociocultural Studies at Florida International University. For more information, visit robinsteiner.net. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Starving Empire: A History of Famine in France's Colonies (Cornell University Press, 2023) by Dr. Yan Slobodkin traces the history of famine in the modern French Empire, showing that hunger is intensely local and sweepingly global, shaped by regional contexts and the transnational interplay of ideas and policies all at once. By integrating food crises in Algeria, West and Equatorial Africa, and Vietnam into a broader story of imperial and transnational care, Dr. Slobodkin reveals how the French colonial state and an emerging international community took increasing responsibility for subsistence, but ultimately failed to fulfill this responsibility.Europeans once dismissed colonial famines as acts of god, misfortunes of nature, and the inevitable consequences of backward races living in harsh environments. But as Dr. Slobodkin recounts, drawing on archival research from four continents, the twentieth century saw transformations in nutrition, scientific racism, and international humanitarianism that profoundly altered ideas of what colonialism could accomplish. A new confidence in the ability to mitigate hunger, coupled with new norms of moral responsibility, marked a turning point in the French Empire's relationship to colonial subjects—and to nature itself.Increasingly sophisticated understandings of famine as a technical problem subject to state control saddled France with untenable obligations. The Starving Empire not only illustrates how the painful history of colonial famine remains with us in our current understandings of public health, state sovereignty, and international aid, but also seeks to return food—this most basic of human needs—to its central place in the formation of modern political obligation and humanitarian ethics.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

Who hasn’t wished for a surefire formula for riches and a ticket to the good life? For three centuries, investment advisers of all kinds, legit and otherwise, have guaranteed that they alone can illuminate the golden pathway to prosperity—despite strong evidence to the contrary. In fact, too often, they are singing a siren song of devastation. And yet we keep listening.Invested: Invested: How Three Centuries of Stock Market Advice Reshaped Our Money, Markets, and Minds (U Chicago Press, 2022) tells the story of how the genre of investment advice developed and grew in the United Kingdom and the United States, from its origins in the eighteenth century through today, as it saturates our world. The authors analyze centuries of books, TV shows, blogs, and more, all promising techniques for amateur investors to master the ways of the market: from Thomas Mortimer’s pathbreaking 1761 work, Every Man His Own Broker, through the Gilded Age explosion of sensationalist investment manuals, the early twentieth-century emergence of a vernacular financial science, and the more recent convergence of self-help and personal finance. Invested asks why, in the absence of evidence that such advice reliably works, guides to the stock market have remained perennially popular. The authors argue that the appeal of popular investment advice lies in its promise to level the playing field, giving outsiders the privileged information of insiders. As Invested persuasively shows, the fantasies sold by these writings are damaging and deceptive, peddling unrealistic visions of easy profits and the certainty of success, while trying to hide the fact that there is no formula for avoiding life’s economic uncertainties and calamities. Learn more about your ad choices. Visit megaphone.fm/adchoices

Despite recent research, the 19th-century history of domestic service in empire and its wider implications is underexplored. In the Service of Empire: Domestic Service and Mastery in Metropole and Colony (Bloomsbury, 2022) by Dr. Fae Dussart sheds new light on servants and their masters in the British Empire, and in doing so offers new discourses on the colonial home, imperial society identities and colonial culture. Using a wide range of source material, from private papers to newspaper articles, official papers and court records, Dr. Dussart explores the strategic nature of the relationship, the connection between imperialism, domesticity and a master/servant paradigm that was deployed in different ways by varied actors often neglected in the historical record.Positioned outside the family but inside the private place of the home, 'the domestic servant' was often the foil against which 19th-century contemporaries worked out class, race and gender identities across metropole and colony, creating those places in the process. The role of domestic servants in empire thus lay not only in the labour they undertook, but also in the way the servant-master relationship constituted ground that helped other power relations to be imagined and contested.Dr. Dussart explores the domestic service relationship in 19th-century Britain and India, considering how ideas about servants and their masters and/or mistresses spanned imperial space, and shaped peoples and places within it.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

Salt is a vital commodity. For many centuries it sustained life for Scots as seasoning for a diet dominated by grains (mainly oats), and for preservation of fish and cheese.Sea-salt manufacturing is one of Scotland’s oldest industries, dating to the eleventh century if not earlier. Smoke- and steam-emitting panhouses were once a common sight along the country’s coastline and are reflected in many of Scotland’s placenames. The industry was a high-status activity, with the monarch initially owning salt pans. Salt manufacture was later organised by Scotland’s abbeys and then by landowners who had access to the sea and a nearby supply of coal. As salt was an important source of tax revenue for the government, it was often a cause of conflict (and military action) between Scotland and England. The future of the industry – and the price of salt for consumers – was a major issue during negotiations around the Union of 1707.Salt: Scotland's Newest Oldest Industry (Birlinn, 2023) edited by Dr. Christopher Whatley and Dr. Joanna Hambley celebrates both the history and the rebirth of the salt industry in Scotland. Although salt manufacturing declined in the nineteenth century and was wound up in the 1950s, in the second decade of the twenty-first century the trade was revived. Scotland’s salt is now a high-prestige, green product that is winning awards and attracting interest across the UK.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

The end of the nineteenth century saw massive developments and innovations in photography at a time when the forces of Western modernity—industrialization, racialization, and capitalism—were quickly reshaping the world. The Unintended: Photography, Property, and the Aesthetics of Racial Capitalism (NYU Press, 2023) slows down the moment in which the technology of photography seemed to speed itself—and so the history of racial capitalism—up. It follows the substantial shifts in the markets, mediums, and forms of photography during a legally murky period at the end of the nineteenth century. Monica Huerta traces the subtle and paradoxical ways legal thinking through photographic lenses reinscribed a particular aesthetics of whiteness in the very conceptions of property ownership.The book pulls together an archive that encompasses the histories of performance and portraiture alongside the legal, pursuing the logics by which property rights involving photographs are affirmed (or denied) in precedent-setting court cases and legal texts. Emphasizing the making of “expression” into property to focus our attention on the failures of control that cameras do not invent, but rather put new emphasis on, this book argues that designations of control’s absence are central to the practice and idea of property-making.The Unintended proposes that tracking and analyzing the sensed horizons of intention, control, autonomy, will, and volition offers another way into understanding how white supremacy functions. Ultimately, its unique historical reading practice offers a historically-specific vantage on the everyday workings of racial capitalism and the inheritances of white supremacy that structure so much of our lives. Learn more about your ad choices. Visit megaphone.fm/adchoices

The United States has more guns than people – a condition that is “unprecedented in world history.” Scholars often focus on gun culture, the Second Amendment, or the history of gun safety, duties, and rights. Often, people assume that the number of guns is a natural state – the guns were always there. But were the guns always there? What caused the drastic boom in firearms, and when did it happen?In Gun Country: Gun Capitalism, Culture, and Control in Cold War America (UNC Press, 2023), Dr. Andrew McKevitt investigates how and when the guns arrived – and why so many people bought them. McKevitt argues that what Americans refer to as “gun culture” in the 21st century “emerged out of the intersections of the Cold War and consumer capitalism in the 1950s and 1960s.” A booming consumer market following World War II coupled with a surplus of cheap firearms readily available for American entrepreneurs to resell to citizens laid the groundwork for rampant firearm distribution in the country. War made the United States into a “gun country” but US gun politics – “interwoven with struggles over race and gender” cannot be detached from consumer politics. Gun safety and gun rights organizations both demand consumer regulation and protection.Dr. Andrew C. McKevitt is the John D. Winters Endowed Professor of History at Louisiana Tech University. His previous book, Consuming Japan: Popular Culture and the Globalizing of 1980s America (2017) was published by the University of North Carolina Press and he received the Stuart L. Bernath Scholarly Article Prize from the Society for Historians of American Foreign Relations.George Lobis served as the editorial assistant for this podcast.Susan Liebell is a Professor of Political Science at Saint Joseph’s University in Philadelphia. Learn more about your ad choices. Visit megaphone.fm/adchoices