New Books in Economic and Business History

Unmaking the East India Company: British Art and Political Reform in Colonial India, c. 1813-1858 (Paul Mellon Centre, 2023) by Dr. Tom Young illuminates how new modes of artistic production in colonial India shaped the British state’s nationalisation of the East India Company, transforming the relationship between nation and empire.This pioneering book explores how art shaped the nationalisation of the East India Company between the loss of its primary monopoly in 1813 and its ultimate liquidation in 1858. Challenging the idea that parliament drove political reform, it argues instead that the Company’s political legitimacy was destabilised by novel modes of artistic production in colonial India. New artistic forms and practices—the result of new technologies like lithography and steam navigation, middle-class print formats like the periodical, the scrapbook and the literary annual, as well as the prevalence of amateur sketching among Company employees—reconfigured the colonial regime’s racial boundaries and techniques of governance. They flourished within transimperial networks, integrating middle-class societies with new political convictions and moral disciplines, and thereby eroding the aristocratic corporate cultures that had previously structured colonial authority in India.Unmaking the East India Company contributes to a reassessment of British art as a global, corporate and intrinsically imperial phenomenon—highlighting the role of overlooked media, artistic styles and print formats in crafting those distinctions of power and identity that defined ‘Britishness’ across the world.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

The twentieth century was the managerial century in the United States. An organizational transformation, from entrepreneurial to managerial capitalism, brought forth what became a dominant narrative: that administrative coordination by trained professional managers is essential to the efficient running of organizations both public and private. And yet if managerialism was the apotheosis of administrative efficiency, why did both its practice and the accompanying narrative lie in ruins by the end of the century? In The Corporation and the Twentieth Century: The History of American Business Enterprise (Princeton UP, 2023), Richard Langlois offers an alternative version: a comprehensive and nuanced reframing and reassessment of the economic, institutional, and intellectual history of the managerial era.Langlois argues that managerialism rose to prominence not because of its inherent superiority but because of its contingent value in a young and rapidly developing American economy. The structures of managerialism solidified their dominance only because the century's great catastrophes of war, depression, and war again superseded markets, scrambled relative prices, and weakened market-supporting institutions. By the end of the twentieth century, Langlois writes, these market-supporting institutions had reemerged to shift advantage toward entrepreneurial and market-driven modes of organization.This magisterial new account of the rise and fall of managerialism holds significant implications for contemporary debates about industrial and antitrust policies and the role of the corporation in the twenty-first century.Richard Langlois was born and raised in northeastern Connecticut and educated at Williams, Yale, and Stanford. He received his Ph.D. in 1981 from the Department of Engineering-Economic Systems at Stanford. His primary work has been in the economics of organization, where he has long been pushing the theory of dynamic transaction costs and the theory of modular systems, as well as in economic and business history. His 1992 history of the microcomputer industry won the Newcomen Award as the best paper in the Business History Review. Previous books include Firms, Markets, and Economic Change: a Dynamic Theory of Business Institutions (Routledge, 1995, with Paul L. Robertson) and The Dynamics of Industrial Capitalism: Schumpeter, Chandler, and the New Economy (The Graz Schumpeter Lectures, Routledge 2007), which won the Schumpeter Prize of the International Joseph A. Schumpeter Society.In this podcast, he discussed the main themes in his most recent book and how it sits within overall discussions about the large corporation, his views on institutions and the nature of American-led capitalism in the 20th century. This is possible through a reinterpretation of a large body of economic and business history rather than archival or other primary source material.As mentioned during the podcast:-Chandler, A. (1990) Scale and Scope. -Coase, R. (1937) The Nature of the Firm.-Langlois, R. (2003) The Vanishing Hand.-Langlois, R. (2004). The Dynamics of Industrial Capitalism (Graz Lectures).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

What’s safer than baby powder? Parents have been trusting Johnson & Johnson for over 100 years to powder their baby’s bottoms.Yet, numerous studies have revealed the presence of trace amounts of asbestos in this talc-based powder. Thousands of parents now claim that this asbestos is responsible for their cancers. A Reuters investigation catalogued this evidence and the fact that J&J knew about the asbestos since the 1950s, yet continued to sell the powder. Johnson & Johnson is proposing a $9 billion dollar settlement for the over 38,000 lawsuits brought and all claims into the future. However, it depends on the courts accepting a controversial bankruptcy procedure called “the Texas Two-Step.” This strategy is being used to address a raft of personal injury complaints against a number of companies, but critics call it nothing more than a ‘sham bankruptcy’ that is being used to let corporations off the hook.SUPPORT THE SHOWYou can support the show for free by following or subscribing on Spotify, Apple Podcasts, or whichever app you use. This is the best way to help us out and it costs nothing so we’d really appreciate you clicking that button.If you want to do a little more we would love it if you chip in. You can find us on patreon.com/dartsandletters. Patrons get content early, and occasionally there’s bonus material on there too.ABOUT THE SHOWFor a full list of credits, contact information, and more, visit our about page. Learn more about your ad choices. Visit megaphone.fm/adchoices

Supply chains matter. And one of the most compelling defences of the capitalist system is that for all its various dysfunctions, it does at least ensure the quick delivery of goods that people want. But in recent years that feature of the system seems to have been challenged by COVID but also perhaps by other factors. So, what’s going on with supply chains? Rob Handfield is the co-author (with Tom Linton) of Flow: How the Best Supply Chains Thrive (Rotman-UTP Publishing, 2022). Hear him in conversation with Owen Bennett Jones.Owen Bennett-Jones is a freelance journalist and writer. A former BBC correspondent and presenter he has been a resident foreign correspondent in Bucharest, Geneva, Islamabad, Hanoi and Beirut. He is recently wrote a history of the Bhutto dynasty which was published by Yale University Press. Learn more about your ad choices. Visit megaphone.fm/adchoices

Vincanne Adams's book Glyphosate and the Swirl: An Agroindustrial Chemical on the Move (Duke UP, 2023) is part of a broader trend in anthropology that is developing new methods and techniques to study our increasingly polluted and toxic world. Adams takes Glyphosate as a case study and follows this chemical as it moves from the past to the present, from the lab to the dinner table, from outside our bodies, to within our cells to grapple with what it is to live in such an entangled world.  Adams explores the chemical glyphosate—the active ingredient in Roundup and a pervasive agricultural herbicide—as a predicament of contested science and chemically saturated life. Adams traces the history of glyphosate’s invention and its multiple uses as activists, regulators, scientists, clinicians, consumers, and sick people try to determine its safety and harm. Scientific and political debates over glyphosate’s toxicity are agitated into a swirl—a condition in which certainty is continually contested, divided, and multiplied. This movement replicates the chemical’s movement in soils, foods, bodies, archives, labs, and legislative bodies, settling in some places here and in other places there, its potencies changing and altering what it touches with different scales and kinds of impact. The swirl is both an artifact of academic capitalism, activist tactics, and contested scientific facts and a way to capture the complexity of contemporary life with chemicals. Prof. Vincanne Adams, is professor Anthropology, History and Social Medicine at the University of California, San Francisco.Elliott M. Reichardt, MPhil, is a PhD Candidate in Socio-Cultural Anthropology at Stanford University. Elliott's research interests are in capitalism, colonialism, and socio-ecological health in North America. Elliott also has long standing interests in medical anthropology and the history of science and medicine. Learn more about your ad choices. Visit megaphone.fm/adchoices

Anna Zeide, Associate Professor of History at Virginia Tech, talks about her book, US History in 15 Foods (Bloomsbury, 2023), with Peoples & Things host, Lee Vinsel. US History in 15 Foods is an approachable book that covers key moments and major themes in the history of the United States from before European colonization to the present, using food as the lens of examination. Zeide and Vinsel also talk about how Zeide became a food historian and briefly discuss her previous, award-winning book, Canned: The Rise and Fall of Consumer Confidence in the American Food Industry.Lee Vinsel is an associate professor in the Department of Science, Technology and Society at Virginia Tech. He studies human life with technology, with particular focus on the relationship between government, business, and technological change. His first book, Moving Violations: Automobiles, Experts, and Regulations in the United States, was published by Johns Hopkins University Press in July 2019. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ronan Bolton's book Making Energy Markets: The Origins of Electricity Liberalisation in Europe (Palgrave Macmillan, 2022) charts the emergence and early evolution of electricity markets in western Europe, covering the decade from the late 1980s to the late 1990s. Liberalising electricity marked a radical deviation from the established paradigm of state-controlled electricity systems which had become established across Europe after the Second World War. By studying early liberalisation processes in Britain and the Nordic region, and analysing the role of the EEC, the book shows that the creation of electricity markets involved political decisions about the feasibility and desirability of introducing competition into electricity supply industries. Competition introduced risks, so in designing the process politicians needed to evaluate who the likely winners and losers might be and the degree to which competition would impact key national industries reliant on cross-subsidies from the electricity sector, in particular coal mining, nuclear power and energy intensive production. The book discusses how an understanding of the origins of electricity markets and their political character can inform contemporary debates about renewables and low carbon energy transitions.Ronan Bolton is a Reader in Science, Technology and Innovation Studies at the University of Edinburgh, and the Co-director of the UK Energy Research Centre. His work examines the interconnected policy, market and regulatory challenges of transforming carbon based energy systems. His particular research interests are focused in the areas of energy network regulation and system integration, along with the the history and development of liberalisation processes in the energy sector.Filippo De Chirico studies History and Politics of Energy at Roma Tre University (Italy). Learn more about your ad choices. Visit megaphone.fm/adchoices

At the end of the 1930s, the West was in peril. A cultural and economic backwater, the Great Depression had all-but wiped out the extractive industries which had fueled the region's economy for decades. What catapulted the West into the global twentieth century was mobilization for World War II. In The Mobilized American West: 1940-2000 (U Nebraska Press, 2023), University of Washington emeritus professor John Findlay argues that once began, that mobilization never really ended, and continues to define the West to this day. As the latest entry in Nebraska's lauded History of the American West series, Findlay uses the latest scholarship to offer a synthetic look at the recent history of the West, a period that often gets short shrift in Western historiography. Findlay also takes new approaches, looking at the West through the lenses of family history and political culture, to make the case that the region is still distinct and worthy of study as a unique place. Findlay's West is a place of violence, democracy, competing interests, and of beauty, and is a grand confirmation that there are still rich veins to be mined in regional Western histories. Learn more about your ad choices. Visit megaphone.fm/adchoices

Is Thomas Piketty the world’s most famous economic historian ? A superstar enemy of plutocratic capitalism who wrote a pathbreaking bestseller, Capital in the 21st Century? Or simply a debonair and generous French intellectual happy to talk redistributive justice? Join this 2020 conversation with John and Adaner Usmani (star of RTB’s episode 44: Racism as idea, Racism as Power Relation) to find out.Why did we invite him? John thinks nobody is better than Piketty at mapping and explaining the nature and origin of the glaring and growing inequality that everywhere defines wealth distribution in the 21st century—both between societies and within them. His recent magnum opus, Capital and Ideology. ask what sorts of stories societies (and individuals within those societies) tell themselves so as to tolerate such inequality—and the poverty and misery it produces. Or even to see that inequality as part of the natural order of things.Why did he accept our invitation? A mystery, but who are we to look a gift economist in the mouth?Mentioned in the EpisodePhilip Larkin, “Why aren’t they screaming?” (from the poem “The Old Fools”)Bonus: Here is John’s question about his favorite writer, the one Adaner teased him for not asking:“Mr. Piketty, you are interested in hinge points where people cease being captivated by one ideology and begin seeing differently (might one also say, begin being captivated by another ideology?) In 2014, Ursula le Guin said:‘We live in capitalism. Its power seems inescapable. So did the divine right of kings. Any human power can be resisted and changed by human beings. Resistance and change often begin in art, and very often in our art, the art of words.‘Can I ask how that resonates with your argument about the rapid changeability of economic paradigms–and moral paradigms for justifying inequality–in Capital and Ideology? “Read transcript here Learn more about your ad choices. Visit megaphone.fm/adchoices

When the "sharing economy" launched a decade ago, proponents claimed that it would transform the experience of work--giving earners flexibility, autonomy, and a decent income. It was touted as a cure for social isolation and rampant ecological degradation. But this novel form of work soon sprouted a dark side: exploited Uber drivers, neighborhoods ruined by Airbnb, racial discrimination, and rising carbon emissions. Several of the most prominent platforms are now faced with existential crises as they prioritize growth over fairness and long-term viability.Nevertheless, the basic model--a peer-to-peer structure augmented by digital tech--holds the potential to meet its original promises. Based on nearly a decade of pioneering research, After the Gig: How the Sharing Economy Got Hijacked and How to Win It Back (U California Press, 2021) dives into what went wrong with this contemporary reimagining of labor. The book examines multiple types of data from thirteen cases to identify the unique features and potential of sharing platforms that prior research has failed to pinpoint. Juliet B. Schor presents a compelling argument that we can engineer a reboot: through regulatory reforms and cooperative platforms owned and controlled by users, an equitable and truly shared economy is still possible.Juliet B. Schor is an American economist and Sociology Professor at Boston College. She has studied trends in working time, consumerism, the relationship between work and family, women's issues and economic inequality, and concerns about climate change in the environment. She is a New York Times bestselling author and the Chair of the Board of Directors of the Better Future Project.Tom Discenna is Professor of Communication at Oakland University whose work examines issues of academic labor and communicative labor more broadly. Learn more about your ad choices. Visit megaphone.fm/adchoices