New Books in Economics

One of the most enduring ideas in economics is that unemployment is both unavoidable and necessary for the smooth functioning of the economy. This assumption has provided cover for the devastating social and economic costs of job insecurity. It is also false.In this The Case for a Job Guarantee (Polity, 2020), Pavlina R. Tcherneva challenges us to imagine a world where the phantom of unemployment is banished and anyone who seeks decent, living-wage work can find it - guaranteed.This is the aim of the Job Guarantee proposal: to provide a voluntary employment opportunity in public service to anyone who needs it. Tcherneva enumerates the many advantages of the Job Guarantee over the status quo and proposes a blueprint for its implementation within the wider context of the need for a Green New Deal.Pavlina Tcherneva is Associate Professor at Bard College and Research Scholar at the Levy Economics Institute.Stephen Pimpare is Senior Lecturer in the Politics & Society Program and Faculty Fellow at the Carsey School of Public Policy at the University of New Hampshire. He is the author of The New Victorians (New Press, 2004), A People’s History of Poverty in America (New Press, 2008), winner of the Michael Harrington Award, and Ghettos, Tramps and Welfare Queens: Down and Out on the Silver Screen (Oxford, 2017). Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Franchise: The Golden Arches in Black America (Liveright, 2020) by Marcia Chatelain is a fascinating examination of the relationship between the fast-food industry, Black business owners, and the communities where they set up franchises after the Holy Week Uprisings of 1968.Using McDonalds as a “prism” to study the expansion of the fast-food industry and the effects of Black capitalism, Franchise tells a complex origins story about Black franchisees and their reception in Black communities across the nation in Atlanta, Chicago, Portland, Cleveland, and Los Angeles after the classical phase of the Civil Rights Movement.Chatelain ultimately exposes the limits of Black entrepreneurship to supplant state responsibility to create socially and economically reparative conditions in Black communities, while demonstrating how a range of progressive Black politicians and activists came to support Black entrepreneurship as a solution to widespread federal and municipal disinvestment from Black communities.As Black franchise owners assisted the development of McDonalds into a wealthy and successful national brand, they also encountered glass-ceilings and discriminatory practices within McDonalds corporate and the larger business world despite their tremendous success compared to white counterparts. Chatelain traces these tensions and interconnections across political, business, and community stakeholders to explain how fast-food franchises ingratiated themselves into Black communities, while exasperating inequalities in Black America.Francise teaches readers to be skeptical of corporate or market-driven solutions whether articulated as Black capitalism or “empowerment,” especially during and after moments of Black uprising.Marcia Chatelain is a scholar, speaker, and strategist based in Washington, D.C. She teaches courses in African American life and culture at Georgetown University.Amanda Joyce Hall is a Ph.D. Candidate in History and African American Studies at Yale University. She is writing an international history on the grassroots movement against South African apartheid during the 1970s and 1980s. She tweets from @amandajoycehall Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How are we going to address inequality and put the economy on a sounder footing?Today I talked to Eric Lonergan and Mark Blyth about their new book Angrynomics (Agenda Publishing/Columbia University Press, 2020).Lonergan is an economist and macro fund manager in London whose writings often appear in The Financial Times. Blyth is a political economist at Brown University who received his PhD in political science from Columbia University.Topics covered in this episode include:--An exploration of how the emotions of anger, fear and disgust animate both the long-term economic stresses in society and those brought on by the Covid-19 crisis.--What the differences are between moral outrage versus tribal outrage.--Descriptions of three, potentially viable and game-changing solutions, including among them a “data dividend” and the creation of national wealth funds like those in Norway and beyond.Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). To check out his “Faces of the Week” blog, visit https://emotionswizard.com.  Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In this episode (# 2), we discuss Eisler’s early years as a member of the Jewish bourgeoisie in turn-of-the-century Vienna with historian Steven Beller. We also hear from the closest living relative of Robert Eisler, his grand-nephew Richard Regen. Philosopher Tom Hurka provides some background for understanding the arguments Eisler is making in Studies in Value Theory, especially his critiques of hedonism and aesthetic philosophy. Finally, we look at the events surrounding Eisler’s dramatic arrest and trial for attempted art theft in Udine in 1907 and discuss its short- and long-term consequences.Voice of Robert Eisler: Caleb CrawfordAdditional voices: Brian EvansEditing and engineering: March WasheleskyMusic: “Shibbolet Baseda,” recorded by Elyakum Shapirra and his Israeli Orchestra.Guests: Steven Beller (independent scholar), Tom Hurka (Chancellor Henry N. R. Jackman Distinguished Professor of Philosophical Studies at the University of Toronto), Richard Regen (grand-nephew of Robert and Lili Eisler).Funding provided by the Ohio University Humanities Research Fund and the Ohio University Honors Tutorial College Internship Program.Special thanks to the Warburg Institute, the Griffith Institute at the University of Oxford, and to the Friends Historical Library at Swarthmore College.Bibliography and further reading:-Beller, Steven, ed. Rethinking Vienna 1900. New York: Berghahn Books, 2012.-Beller, Steven. Vienna and the Jews, 1867–1938: A Cultural History. New York: Cambridge University Press. 1989.-Eisler, Robert. “The Empiric Basis of Moral Obligation.” Ethics, Vol. 59, No. 2, Part 1 (Jan., 1949), pp. 77-94.-Eisler, Robert. “Der Wille zum Schmerz, Ein psychologisches Paradox.” Jahresbericht der Philosophischen Gesellschaft an der Universitat zu Wien (1904), pp. 63-79.-Eisler, Robert. Studien zur Werttheorie. Leipzig: Verlag von Duncker & Humblot, 1902.-Fabian, Reinhard and Peter M. Simons. “The Second Austrian School of Value Theory.” In Austrian Economics: Historical and Philosophical Background, ed. by Wolfgang Grassl and Barry Smith, pp. 29-78. Washington Square, NY: New York University Press, 1986.-Frondzi, Risieri. What Is Value? An Introduction to Axiology. Second edition. La Salle, IL: Open Court Publishing Company, 1971.-Grassl, Wolfgang. “Toward a Unified Theory of Value: From Austrian Economics to Austrian Philosophy.” Paper presented at 19th-20th Century Austrian Thought and its Legacy, November 1-3, 2012, University of Texas at Arlington.Associate Professor Brian Collins is the Drs. Ram and Sushila Gawande Chair in Indian Religion and Philosophy at Ohio University. He can be reached at collinb1@ohio.edu. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Alberto Harambour's new book Soberanías Fronterizas. Estados y capital en la colonización de Patagonia (Argentina y Chile, 1840s-1920s) (Universidad Austral de Chile, 2019) examines the explosion of foreign-owned sheep farming, the fitful expansion of Argentine and Chilean sovereignty, and the violence of primitive accumulation and genocide in southern Patagonia and Tierra del Fuego. Soberanías Fronterizas wrestles with the multiple and competing sovereignties articulated during the Age of Empire, Latin America’s export boom, and the dispossession of autonomous indigenous peoples through settler colonialism. It asks how, over the course of less than a century, this vast territory described by Europeans and outsiders as inhospitable, unknowable, and uninhabited, came to be a wildly profitable export enclave.Harambous uncovers how foreign (predominantly British) capital came into possession of millions of hectares of land for sheep raising, effectively establishing sovereign control at the expense of the indigenous inhabitants, Chile, and Argentina. To do this, he reconstructs how foreign investors, merchants, and elites and politicians in Santiago and Buenos Aires built networks of corruption to facilitate land acquisitions, infrastructural improvements, and immigration of labourers. This process, however, was anything but smooth. It came through violence (extermination of Fueginos such as the Selknam, extreme military repression of labour movements, and sheep latifundista resistance to customs).Jesse Zarley is assistant professor of history at Saint Joseph’s College on Long Island, where he teaches Latin American, Caribbean, and Global History. His research interests include the Mapuche, borderlands, ethnohistory, race, and transnationalism during Latin America’s Age of revolution, particularly in Chile and Río de la Plata. Heis the author of a recent article on Mapuche leaders and Chile’s independence wars. You can follow him on Twitter. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In today’s ultra-polarized and highly partisan political environment, Welfare for the Rich: How Your Tax Dollars End Up in Millionaires' Pockets―And What You Can Do About It (Post Hill Press, 2020) is one of the rare books written to appeal to engaged and open-minded citizens from across the political spectrum.Welfare for the Rich is the first book to describe and analyze the many ways that federal and state governments provide handouts—subsidies, grants, tax credits, loan guarantees, price supports, and many other payouts—to millionaires, billionaires, and the companies they own and run.Welfare for millionaire farmers comes to more than $50 billion annually. Subsidies to giant corporations exceeds $100 billion. This shocking waste of taxpayer money is rigorously documented in Welfare for the Rich, along with the political action committees, and special interest groups that keep this distorted system going.Many journalists, scholars, and activists have focused on one or more of these dysfunctional programs. A few of the most egregious examples have even become famous. But Welfare for the Rich is the first attempt to paint a comprehensive, easily accessible picture of a system largely designed by the richest Americans—through lobbyists, lawyers, political action committees, special interest groups, and other powerful influencers—with the specific goal of making sure the government keeps wealth and power flowing from the many to the few.Phil Harvey is an entrepreneur who has founded a thriving business, a philanthropist who has created several important nonprofit organizations, and the author of five books.Lisa Conyers is director of policy studies for the DKT Liberty Project.Kirk Meighoo is a TV and podcast host, former university lecturer, author and former Senator in Trinidad and Tobago. He hosts his own podcast, Independent Thought & Freedom, where he interviews some of the most interesting people from around the world who are shaking up politics, economics, society and ideas. You can find it in the iTunes Store or any of your favorite podcast providers. You can also subscribe to his YouTube channel. If you are an academic who wants to get heard nationally, please check out his free training at becomeapublicintellectual.com. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The COVID-19 pandemic has unleashed a firehose of information (much of it wrong) and an avalanche of opinions (many of them ill-founded). Most of us are so distracted by the everyday awfulness that we don't see the broader issues in play. In this "hastily written" guide to the pandemic economy penned during self-isolation after a flight from Australia, economist Joshua Gans steps back from the short-term chaos to take a clear and systematic look at how economic choices are being made in response to COVID-19. Economics in the Age of COVID-19 (MIT Press , 2020) shows that containing the virus and pausing the economy—without letting businesses fail and people lose their jobs—are the necessary first steps. He outlines the phases of the pandemic economy - containment to reset to recovery and enhancement - and warns against thinking in terms of a “tradeoff” between public health and economic health. Once the virus is contained, we will need to innovate come together to protect ourselves from future pandemics.Tim Jones is an economic and political-risk analyst at Medley Global Advisors (FT Group) in London. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How is the retail sector going to be best able to survive the Amazon juggernaut?I address this question with B. Joseph Pine II and James H. Gilmore in a discussion of their book The Experience Economy: Competing for Customer Time, Attention, and Money (Harvard Business Review Press, 2020).Pine and Gilmore are the cofounders of Strategic Horizons, LLP. Besides their other books and activities, Pine is a Lecturer at Columbia University and Gilmore teaches at Case Western Reserve University.Topics covered in this episode include:--What have been the relevant emotions in play as the economy has evolved across the four stage of commodities, goods, services, and now experiences and transformations alike.--How is achieving “customer satisfaction” too limiting, and what’s the emotional storyline that, first, Walt Disney and now business leaders worldwide must embrace to survive and thrive.--How does the emotional labor of employees being “on stage” as part of an experience square with workers’ and customers’ desire for authenticity.For a transcript of this episode, click here.Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. To check out his “Faces of the Week” blog, visit https://emotionswizard.com. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Brian Greene is a Professor of Mathematics and Physics at Columbia University in the City of New York, where he is the Director of the Institute for Strings, Cosmology, and Astroparticle Physics, and co-founder and chair of the World Science Festival. He is well known for his TV mini-series about string theory and the nature of reality, including the Elegant Universe, which tied in with his best-selling 2000 book of the same name. In this episode, we talk about his latest popular book Until the End of Time: Mind, Matter, and Our Search for Meaning in an Evolving Universe (Random House, 2020)Until the End of Time gives the reader a theory of everything, both in the sense of a “state of the academic union”, covering cosmology and evolution, consciousness and computation, and art and religion, and in the sense of showing us a way to apprehend the often existentially challenging subject matter. Greene uses evocative autobiographical vignettes in the book to personalize his famously lucid and accessible explanations, and we discuss these episodes further in the interview. Greene also reiterates his arguments for embedding a form of spiritual reverie within the multiple naturalistic descriptions of reality that different areas of human knowledge have so far produced.John Weston is a University Teacher of English in the Language Centre at Aalto University, Finland. His research focuses on academic communication. He can be reached at john.weston@aalto.fi and @johnwphd. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

You mean big business is good, contributes to our general welfare, and is not generally guilty--with notable exceptions--of all of the charges made against it? That's the argument libertarian economist Tyler Cowen makes in his book Big Business: A Love Letter to an American Anti-Hero (St. Martins, 2019) Most NBN listeners will raise an eyebrow to that claim, but most of those same NBN listeners are up for a good back-and-forth on the virtues and demerits of our market system. And to that end, being familiar with Cowen's arguments--made in this book and his many other publications and platforms--is very useful. The shift in the reputational balance between government and big business as a result of the Covid-19 crisis is another reason to consider Cowen's argument.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 @HistoryInvestor or at http://www.strategicdividendinvestor.com Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics