New Books in Economic and Business History

Banks have taken a backseat since the global financial crisis over a decade ago. Today, our new financial masters are asset managers, like Blackstone and BlackRock. And they don't just own financial assets. The roads we drive on; the pipes that supply our drinking water; the farmland that provides our food; energy systems for electricity and heat; hospitals, schools, and even the homes in which many of us live-all now swell asset managers' bulging investment portfolios.As the owners of more and more of the basic building blocks of everyday life, asset managers shape the lives of each and every one of us in profound and disturbing ways. In Our Lives in Their Portfolios: Why Asset Managers Own the World (Verso, 2023), Brett Christophers peels back the veil on "asset manager society." Asset managers, he shows, are unlike traditional owners of housing and other essential infrastructure. Buying and selling these life-supporting assets at a dizzying pace, the crux of their business model is not long-term investment and careful custodianship but making quick profits for themselves and the investors that back them.In asset manager society, the natural and built environments that sustain us become one more vehicle for siphoning money from the many to the few.Brett Christophers is a professor in the Department of Human Geography and the Institute for Housing and Urban Research at Uppsala University in Sweden. His previous books include The New Enclosure: The Appropriation of Public Land in Neoliberal Britain (2019) and Rentier Capitalism: Who Owns the Economy, and Who Pays for It?  (2020). Brian Hamilton is chair of the Department of History and Social Science at Deerfield Academy. Twitter. Website. Learn more about your ad choices. Visit megaphone.fm/adchoices

In Sugarland: The Transformation of the Countryside in Communist Albania (Central European UP, 2023), Artan Hoxha discusses the ambitious development project in state socialist Albania that turned a swampland into a site of sugar production after 1945. The author seeks to free the history of Albanian communism from the stereotypes that still circulate about it with stigmas of an aberration, paranoia, extreme nationalism, and xenophobia. This micro-history of the agricultural and industrial transformation of a zone in southeastern Albania, explores a wide range of issues including modernization, development, and social, cultural, and economic policies. In addition to analyzing the collectivization of agriculture, Hoxha shows how communism affected the lives of ordinary rural people. As elsewhere in the Communist Bloc, the Albanian regime borrowed developmental projects from the past and implemented them using social mobilization and a command economy. The abundant archival resources along with interviews in the field attest to the authorities' efforts to increase consumption and to radically transform people's tastes. But the book argues that despite the repressive environment, people involved in the sugar project were not simply passive receivers of models from the nation's capital. The author also describes that—in defiance of Cold War bipolarity—technological requirements and social policy considerations required a degree of engagement with the broader world.Roland Clark is a Reader in Modern European History at the University of Liverpool, a Senior Fellow with the Centre for Analysis of the Radical Right, and the Principal Investigator of an AHRC-funded project on European Fascist Movements. Learn more about your ad choices. Visit megaphone.fm/adchoices

In Continental Reckoning: The American West in the Age of Expansion (U Nebraska Press, 2023) renowned historian Elliott West presents a sweeping narrative of the American West and its vital role in the transformation of the nation. In the 1840s, by which time the United States had expanded to the Pacific, what would become the West was home to numerous vibrant Native cultures and vague claims by other nations. Thirty years later it was organized into states and territories and bound into the nation and world by an infrastructure of rails, telegraph wires, and roads and by a racial and ethnic order, with its Indigenous peoples largely dispossessed and confined to reservations.Unprecedented exploration uncovered the West’s extraordinary resources, beginning with the discovery of gold in California within days of the United States acquiring the territory following the Mexican-American War. As those resources were developed, often by the most modern methods and through modern corporate enterprise, half of the contiguous United States was physically transformed. Continental Reckoning guides the reader through the rippling, multiplying changes wrought in the western half of the country, arguing that these changes should be given equal billing with the Civil War in this crucial transition of national life.As the West was acquired, integrated into the nation, and made over physically and culturally, the United States shifted onto a course of accelerated economic growth, a racial reordering and redefinition of citizenship, engagement with global revolutions of science and technology, and invigorated involvement with the larger world. The creation of the West and the emergence of modern America were intimately related. Neither can be understood without the other. With masterful prose and a critical eye, West presents a fresh approach to the dawn of the American West, one of the most pivotal periods of American history.Andrew R. Graybill is professor of history and director of the William P. Clements Center for Southwest Studies at Southern Methodist University in Dallas, Texas. He is the author of The Red and the White: A Family Saga of the American West (Liveright, 2013). Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, Thomas Aiello joins E. James West to discuss Practical Radicalism and the Great Migration: The Cultural Geography of the Scott Newspaper Syndicate (University of Georgia Press, 2023). Building on his earlier book The Grapevine of the Black South, which focused on the rise and fall of the Scott Newspaper Syndicate through its flagship publication the Atlanta Daily World, this book further reshapes the place of southern newspapers in the historiography of Black journalism. Practical Radicalism and the Great Migration traces the development and trajectory of the individual newspapers of the Syndicate, evaluating those with surviving issues, and presenting them as they existed in proximity to their Atlanta hub. In so doing, he emphasizes the thread of practical radicalism that ran through Syndicate editorial policy, providing a fuller picture of the Scott Newspaper Syndicate and the Black press in the 1930s, 1940s, and 1950s.James West is a historian of race, media and business in the modern United States and Black diaspora. Author of "Ebony Magazine and Lerone Bennett Jr.: Popular Black History in Postwar America" (Illinois, 2020), "A House for the Struggle: The Black Press and the Built Environment in Chicago" (Illinois, 2022), "Our Kind of Historian: The Work and Activism of Lerone Bennett Jr. (Massachusetts, 2022). Learn more about your ad choices. Visit megaphone.fm/adchoices

The Paraguayan Chaco is a settler frontier where cattle ranching and agrarian extractivism drive some of the world's fastest deforestation and most extreme land tenure inequality. Disrupting the Patrón: Indigenous Land Rights and the Fight for Environmental Justice in Paraguay's Chaco (U California Press, 2023) shows that environmental racism cannot be reduced to effects of neoliberalism but stems from long-standing social-spatial relations of power rooted in settler colonialism. Historically dispossessed of land and exploited for their labor, Enxet and Sanapaná Indigenous peoples nevertheless refuse to abide settler land control. Based on long-term collaborative research and storytelling, Joel E. Correia shows that Enxet and Sanapaná dialectics of disruption enact environmental justice by transcending the constraints of settler law through the ability to maintain and imagine collective lifeways amidst radical social-ecological change. Learn more about your ad choices. Visit megaphone.fm/adchoices

Breakfast Cereal: A Global History (Reaktion, 2023) by Dr. Kathryn Dolan presents the long, distinguished and surprising history of breakfast cereal.Simple, healthy and comforting, breakfast cereals are a perennially popular way to start the day around the world. They have a long, distinguished and surprising history – around 10,000 years ago, with the advent of agriculture, people began breaking their fast with porridges made from wheat, rice, corn and other grains. It was only in the second half of the nineteenth century, however, in the United States, that a series of entrepreneurs and food reformers created the breakfast cereals we recognize today: Kellogg’s Corn Flakes, Cheerios and Quaker Oats, among others.In this global, entertaining and well-illustrated account, Dr. Dolan explores the history of breakfast cereals, including many historical and modern recipes that the reader can try at home.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

Look at a map of the world and you'll see a colorful checkerboard of nation-states. But this is not where power actually resides. Over the last decade, globalization has shattered the map into different legal spaces: free ports, tax havens, special economic zones. With the new spaces, ultracapitalists have started to believe that it is possible to escape the bonds of democratic government and oversight altogether.Crack-Up Capitalism: Market Radicals and the Dream of a World Without Democracy (Metropolitan Books, 2023) follows the most notorious radical libertarians--from Milton Friedman to Peter Thiel--around the globe as they search for the perfect space for capitalism. Historian Quinn Slobodian leads us from Hong Kong in the 1970s to South Africa in the late days of apartheid, from the neo-Confederate South to the former frontier of the American West, from the medieval City of London to the gold vaults of right-wing billionaires, and finally into the world's oceans and war zones, charting the relentless quest for a blank slate where market competition is unfettered by democracy.A masterful work of economic and intellectual history, Crack-Up Capitalism offers both a new way of looking at the world and a new vision of coming threats. Full of rich details and provocative analysis, Crack-Up Capitalism offers an alarming view of a possible future.Quinn Slobodian is a professor of the history of ideas at Wellesley College.Caleb Zakarin is the Assistant Editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices

The rise to power of populists like Donald Trump is usually attributed to the shifting values and policy preferences of voters-the demand side. Paul Kenny's Why Populism?: Political Strategy from Ancient Greece to the Present (Cambridge UP, 2023) shifts the public debate on populism and examines the other half of the equation-the supply side. Kenny argues that to understand the rise of populism is to understand the cost of different strategies for winning and keeping power. For the aspiring leader, populism-appealing directly to the people through mass communication-can be a quicker, cheaper, and more effective strategy than working through a political party. Probing the long history of populism in the West from its Ancient Greek roots to the present, this highly readable book shows that the 'economic laws of populism are constant.' 'Forget ideology. Forget resentment. Forget racism or sexism.' Populism, the author writes, is the result of a hidden strategic calculus.Paul Kenny is Professor of Political Science at IHSS at Australian Catholic University and a Visiting Fellow at the Australian National University.Caleb Zakarin is the Assistant Editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices

Calming the Storms: The Carry Trade, the Banking School and British Financial Crises Since 1825 (Palgrave Macmillan, 2023) by Dr. Charles Read exposes, for the first time in modern scholarship, the role that the rise of the Carry Trade played in British financial crises between 1825 and 1866, how in reaction the Bank of England improved its management of monetary policy after 1866 and how those lessons have been forgotten since the 1970s.Britain is one of the few major capitalist economies in the world to have avoided policy-induced systemic financial crises for more than 100 years of its history—between 1866 and 1973. Beforehand, it suffered a series of serious banking panics, in 1825, 1837, 1847, 1857-58 and 1866. Since the 1970s banking instability has returned again, with the global financial crisis of 2007-09 hitting Britain hard.Economists and policymakers have asked what can be learnt from Britain’s experience of the disappearance and reappearance of crises to help efforts to prevent future ones. This book answers that question with a major reassessment of Britain’s financial history over the past two centuries. It does so by applying the long-neglected ideas of the British Banking School to explain how crises can occur because of the Carry Trade. This book is essential reading for economists and historians of modern Britain, practitioners and policymakers, as well as anyone who is affected by financial crises and their consequences.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 Venice Arsenal: Between History, Heritage, and Re-Use (Routledge, 2022) reviews four decades of debate about restoring an industrial heritage site of inestimable value - the Venice Arsenal. Focusing on the challenges of economic, financial and institutional feasibility, it reveals how failing to address these aspects has undermined potential solutions from both technicians and heritage professionals.With a deep connection to the city over centuries, the Arsenal was the very basis of La Serenissima's sea power, enabling its economic expansion. Later, it maintained a vital military function through shipbuilding until World War II. But the slow process of abandonment of the traditional site's uses and spaces continues to pose questions regarding its preservation and re-use. Drawing on original research from urban planners, architects and historians, the book provides a critical investigation into the organizational and managerial challenges of this unique site, and crucially, why so little has been achieved compared with potential opportunities.Featuring numerous color photographs and exploring the particular challenges of restoration and re-use facing the Venice Arsenal, this insightful evaluation of the history of this site provides a uniquely informative case for the discipline of industrial heritage.Luca Zan, a faculty member at the University of Bologna, teaches and researches in Arts management from different perspectives in Italy, the United States (Carnegie Mellon University, and China (China Academy of Fine Arts). His research has international comparative perspective with fieldwork in China, Turkey, Peru, Ecuador, and Europe. His contributions also include management and accounting in historical perspectives, particularly on the history of the Venice Arsenal.He has been the author or coauthor of Managerial Rhetoric and Arts Organizations, 2006; The Management of Cultural Heritage in China, 2008; Managing Cultural Heritage, 2016; Heritage Sites in Contemporary China, 2018; The Venice Arsenal. Between History Heritage and Re-use, 2022.Along side academic activities Zan is actively involved in the management of arts/heritage organizations. 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