New Books in Economic and Business History

In 1644, after close to three centuries of relative stability and prosperity, the Ming dynasty collapsed. Many historians attribute its demise to the Manchu invasion of China, but the truth is far more profound. The Price of Collapse: The Little Ice Age and the Fall of Ming China (Princeton UP, 2023) provides an entirely new approach to the economic and social history of China, exploring how global climate crisis spelled the end of Ming rule.The mid-seventeenth century witnessed the deadliest phase of the Little Ice Age, when temperatures and rainfall plunged and world economies buckled. Timothy Brook draws on the history of grain prices to paint a gripping portrait of the final tumultuous years of a once-great dynasty. He explores how global trade networks that increasingly moved silver into China may have affected prices and describes the daily struggle to survive amid grain shortages and famine. By the early 1640s, as the subjects of the Ming found themselves caught in a deadly combination of cold and drought that defied all attempts to stave off disaster, the Ming price regime collapsed, and with it the Ming political regime.A masterful work of scholarship, The Price of Collapse reconstructs the experience of ordinary people under the immense pressure of unaffordable prices as their country slid from prosperity to calamity and shows how the market mediated the relationship between an empire and the climate that turned against it.Huijun Mai is an Assistant Professor in Medieval Chinese Studies at the University of California, Los Angeles. Learn more about your ad choices. Visit megaphone.fm/adchoices

Adam Smith wrote that, “Political economy belongs to no nation; it is of no country: it is the science of the rules for the production, the accumulation, the distribution, and the consumption of wealth.”However Adam Smith regarded the science of political economy, in practical terms, one is quite hard pressed to find a case where governments—be it an empire, republic, or nation—were completely left out of the picture. At least, that is how it’s been historically.Questions about how people and other types of entities organize and generate capital, AND the role that governments play in all of this, fill libraries. The ramifications of the dynamics and rules surrounding money have proved so consequential—and increasingly so, in our increasingly technologized world—that it is no surprise that historians have devoted much energy to the study of political economy. Political economy, in the broadest terms, is the subject of our conversation today. Today on History Ex we put two recent books that bring important perspectives to these questions in conversation with each other.In this conversation Philip Stern and Quinn Slobodian discuss:• Empire, Incorporated. The Corporations That Built British Colonialism (Belknap Press of Harvard University Press in 2023), by Philip J. Stern.• Crack-Up Capitalism: Market Radicals and the Dream of a World Without Democracy (Metropolitan Books, 2023), by Quinn Slobodian.The periods of time being studied are centuries apart and marked by much innovation. Our authors find points of convergence as well as divergence in aims, methods, and outcomes of the people at the center of their books. Stern and Slobodian discuss methodologies and chronologies, the ideologies that animated their actors, how memory and history were mobilized in promoting various visions; they probe the historian’s perennial challenges of disentangling ideologies from interest, explain how similar actions in different historical contexts can demand different interpretations; and more.Philip Stern is an associate professor of History at Duke University in Durham, North Carolina. His work focuses on various aspects of the legal, political, intellectual, and business histories that shaped the British Empire. He is also the author of The Company-State: Corporate Sovereignty and the Early Modern Foundations of the British Empire in India (Oxford University Press, 2011) and many other scholarly works.Quinn Slobodian is a professor of the history at Wellesley College in Massachusetts. He is also the author of the award-winning Globalists: The End of Empire and the Birth of Neoliberalism (Harvard University Press, 2018), which has been translated into six languages, and a frequent contributor to the Guardian, New Statesman, The New York, Times, Foreign Policy, Dissent and the Nation.Erika Monahan is the author of The Merchants of Siberia: Trade in Early Modern Eurasia (Cornell UP, 2016) and a 2023-2024 Alexander von Humboldt Fellow. Learn more about your ad choices. Visit megaphone.fm/adchoices

For a century, magazines were the authors of culture and taste, of intelligence and policy - until they were overthrown by the voices of the public themselves online. Magazine (Bloomsbury, 2023) by Jeff Jarvis, part of the Object Lessons series is a tribute to all that magazines were.From their origins in London and on Ben Franklin's press; through their boom - enabled by new technologies - as creators of a new media aesthetic and a new mass culture; into their opulent days in advertising-supported conglomerates; and finally to their fall at the hands of the internet. This tale is told through the experience of a magazine founder, the creator of Entertainment Weekly at Time Inc., who was also TV critic at TV Guide and People and finally an executive at Condé Nast trying to shepherd its magazines into the digital age.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

In this interview James Fenelon discusses his new book entitled Indian, Black and Irish: Indigenous Nations, African Peoples, European Invasions, 1492-1790, recently published with Routledge (2023).The book traces 500 years of European-American colonization and racialized dominance, expanding our common assumptions about the ways racialization was used to build capitalism and the modern world-system. Professor Fenelon draws on personal experience and the agency of understudied Native (and African) resistance leaders, to weave a story too often hidden or distorted in the annals of the academy, that remains invisible at many universities and historical societies. Fenelon identifies three epochs of racial constructions, colonialism, and capitalism that created the USA. Indigenous nations, the first to be racialized on a global scale, African peoples, enslaved and brought to the Americas, and European immigrants. It offers a sweeping analysis of the forces driving the invasion, occupation, and exploitation of Native America and the significance of labor in American history provided by Indigenous people, Africans, and immigrants, specifically the Irish. Indian, Black and Irish makes major contributions toward a deeper understanding of where Supremacy and Sovereignty originated from, and how our modern world has used these socio-political constructions, to build global hegemony that now threatens our very existence through wars and climate change. It will be a vital resource to those studying history, colonialism, race and racism, labor history, and indigenous peoples.James Fenelon is Professor of Sociology and Director of the Center for Indigenous Peoples Studies at California State University, San Bernardino. He is also currently the Lang Visiting Professor for Issues of Social Change at Swarthmore College. His books include Redskins? Sports Mascots, Indian Nations and White Racism, Indigenous Peoples and Globalization (with Thomas D. Hall), and Culturicide, Resistance and Survival of the Lakota (Sioux Nation).Indian, Black and Irish: Indigenous Nations, African Peoples, European Invasions, 1492-1790, is published with RoutledgeAidan Beatty is a lecturer in the history department at Carnegie Mellon University Learn more about your ad choices. Visit megaphone.fm/adchoices

Through the colorful world of Berlin’s grand hotels, this book charts a new history of German liberalism and explores the changing relationships among big business, society, and politics. Behind imposing facades, managers and workers were often the picture of orderly and harmonious service, despite living in sometimes uncomfortable proximity. Then, during World War I, class tensions rose to the surface and failed to resolve in the following years. Doubting the ability of the Weimar Republic to contain these conflicts, a group of hotel owners, some of the most prominent Jewish industrialists and financiers in the country, chose to let Adolf Hitler use their hotel, the Kaiserhof, as his Berlin headquarters in 1932. From a splendid suite opposite the chancellery, Hitler and his henchmen engineered the assumption of power, the death of the Weimar Republic, and the ruin of their hosts, the Kaiserhof’s owners: Jewish liberals now fleeing for their lives. Adam Bisno's book Big Business and the Crisis of German Democracy: Liberalism and the Grand Hotels of Berlin, 1875-1933 (Cambridge UP, 2023) asks how this came about and explores the decision-making processes that produced such catastrophic consequences.Lea Greenberg is an editor, translator, and scholar of German and Jewish studies. Learn more about your ad choices. Visit megaphone.fm/adchoices

How the image collection, organized and made available for public consumption, came to define a key feature of contemporary visual culture. The origins of today’s kaleidoscopic digital visual culture are many. In Picture-Work: How Libraries, Museums, and Stock Agencies Launched a New Image Economy (MIT Press, 2023), Diana Kamin traces the sharing of photographs to an image economy developed throughout the twentieth century by major institutions. Picture-Work examines how three of these institutions—the New York Public Library, the Museum of Modern Art, and the stock agency H. Armstrong Roberts Inc.—defined the public’s understanding of what the photographic image is, while building vast collections with universalizing ambitions. Highlighting underexplored figures, such as the first rights and reproduction manager at MoMA Pearl Moeller and visionary NYPL librarian Romana Javitz, and underexplored professional practices, Diana Kamin demonstrates how bureaucratic work communicates ideas about images to the public. Kamin artfully shows how the public interfaces with these image collections through systems of classification and protocols of search and retrieval. These interactions, in turn, shape contemporary image culture, including concepts of authorship, art, property, and value, as well as logics of indexing, tagging, and hyperlinking. Together, these interactions have forged a concept of the image as alienable content, which has intensified with the advent of digital techniques for managing image collections. To survey the complicated process of digitization in the nineties and early aughts, Kamin also includes interviews with photographers, digital asset management system designers, librarians, and artists on their working practices.Links Mentioned in the Episode "Working With the Whitney's Replication Committee," Ben Lerner, The New Yorker, 2016 Invocation of Beauty: The Life and Photography of Soichi Sunami, Cascadia Art Museum, 2018 Soichi Sunami's manuscript autobiography, Museum of Modern Art Library The New York Public Library: A Universe of Knowledge, Phyllis Dain (Scala Books and The New York Public Library, 2000) What Photographs Do: The Making and Remaking of Museum Cultures, eds. Elizabeth Edwards and Ella Ravilious (UCL Press, 2022). Hallel Yadin is an archivist and special projects manager at the YIVO Institute for Jewish Research. Learn more about your ad choices. Visit megaphone.fm/adchoices

John Taylor, the Mary and Robert Raymond Professor of Economics at Stanford University and Senior Fellow at the Hoover Institution, joins the podcast to discuss how he initial got interested in economics, his initial training in econometrics as a PhD student at Stanford which led him to monetary economics, his seminal contributions to the foundations of New Keynesian economics including the Taylor Rule and its influence, his views on monetary policy in the US, Europe and Japan over the decades, international economics, the state of fiscal policy, and economic growth.  Learn more about your ad choices. Visit megaphone.fm/adchoices

David Mitch, an economic historian and professor of economics at the University of Maryland Baltimore County, joins the podcast to discuss the The Chicago School of Economics, including his 2016 Journal of Political Economy paper which uncovered how on the University of Chicago economics department nearly hired economists Paul Samuelson and John Hicks over Milton Friedman in 1946, along with David's work on economic growth including arguing how incentives for governments to promote growth historically may have been more to promote militarism than maximize the welfare of its citizens.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Uncivil liberalism: Labour, Capital and Commercial Society in Dadabhai Naoroji's Political Thought (Cambridge University Press, 2023) by Dr. Vikram Visana studies how ideas of liberty from the colonised South claimed universality in the North. Recovering the political theory of Dadabhai Naoroji, India's pre-eminent liberal, this book offers an original global history of this process by focussing on Naoroji's preoccupation with social interdependence and civil peace in an age of growing cultural diversity and economic inequality.Dr. Visana shows how Naoroji used political economy to critique British liberalism's incapacity for civil peace by linking periods of communal rioting in colonial Bombay with the Parsi minority's economic decline. He responded by innovating his own liberalism, characterised by labour rights, economic republicanism and social interdependence maintained by freely contracting workers. Significantly, the author draws attention to how Naoroji seeded 'Western' thinkers with his ideas as well as influencing numerous ideologies in colonial and post-colonial India. In doing so, the book offers a compelling argument which reframes Indian 'nationalists' as global thinkers.This interview was conducted by Dr. Miranda Melcher whose doctoral work focused 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

Jeremy Land's book Colonial Ports, Global Trade, and the Roots of the American Revolution (1700-1776) (Brill, 2023) takes a long-run view of the global maritime trade of Boston, New York, and Philadelphia from 1700 to American Independence in 1776. Land argues that the three cities developed large, global networks of maritime commerce and exchange that created tension between merchants and the British Empire which sought to enforce mercantilist policies to constrain American trade to within the British Empire. Colonial merchants created and then expanded their mercantile networks well beyond the confines of the British Empire. This trans-imperial trade (often considered smuggling by British authorities) formed the roots of what became known as the American Revolution.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