New Books in Economics

In When Wheat Was King: The Rise and Fall of the Canada-UK Grain Trade (University of British Columbia Press, 2016), André Magnan connects the cultivation of wheat on the Canadian prairies to the consumption of bread in Britain. Using the concept of a “food regime” as a theoretical frame, Magnan identifies three broad periods of stability in the relationship between Canadian wheat and British bread: a “UK-centered” food regime from about 1870 to 1914, a “mercantile-industrial” food regime from 1945 to 1972, and a “corporate” or “corporate-environmental” food regime from 1995 to the present. Separating these three periods are two periods of instability, the first including the two World Wars and the second beginning with the simultaneous oil crisis and entry of the Soviet Union into the global wheat trade in the 1970s. Through these phases of relative stability and instability, Magnan traces the institutions that linked the cold, dry Canadian prairies to the cities of Britain, including banks and food processing companies, with particular focus on the Canadian Wheat Board from 1935 until its dissolution in 2012. André Magnan is Associate Professor in the Department of Sociology and Social Studies at the University of Regina. His research and teaching interests include the sociology of agrifood systems, globalization and development, and sociological theory. Magnan has two principle areas of research. First, he has examined the history and politics of grain marketing on the Canadian prairies, with a focus on the rise and fall of the Canadian Wheat Board, one of Canada’s most important agricultural institutions. His second area of research focus is the financialization of agrifood systems. Here Dr. Magnan has examined changing patterns of farm structure and ownership in Canada and Australia, documenting how financial investors of different stripes are buying farmland on a large scale. Part of a multi-year study funded by the Social Sciences and Humanities Research Council, this research aims to understand how new patterns of farmland ownership could affect family farmers, rural communities, and the agricultural industry. David Fouser is an adjunct faculty member at Santa Monica College, Laguna College of Art & Design, and Chapman University. He completed his Ph.D. in 2016 at the University of California, Irvine, and studies the cultural and environmental history of wheat, flour, and bread in Britain and the British Empire. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Telling the story of a former colony post-independence is tricky, no matter if it’s a colony in Latin America, the Middle East or East Asia. Where does the idea of the ’nation’ slot in? Does it exist independent of colonialism? How does one talk about decolonization in post-imperial contexts? Then, you have to consider the interlocking concepts of language, race and even war. In the Sudanese case, that story can be told through the emergence of economic developmentalism. In Transforming Sudan: Decolonization, Economic Development, and State Formation (Cambridge University Press, 2017), Alden Young tells the story of how the Sudanese state was shaped post-independence as a result of economic planning. Through global, regional, and national notions of how to economically plan a state, Young traces the people, resources, and policies that would have consequences for generations to follow. Alden Harrington Young is assistant professor in the departments of History and of Global Studies and Modern Languages and director of Africana Studies, all at Drexel University. He received his BA from Columbia, his MA from the London School of Economics and Political Science and his PhD from Princeton University. He teaches African History, economic history and the history of Arab and African interactions. Nadirah Mansour is a graduate student at Princeton University’s Department of Near Eastern Studies working on the global intellectual history of the Arabic-language press. She tweets @NAMansour26 and produces another Middle-East and North Africa-related podcast: Reintroducing. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Did capitalism exist in ancient Greece, the cradle of democracy and western civilization? I was joined to discuss this and other issues with Donni Wang, the author of Before the Market: The Political Economy of Olympianism (Common Ground, 2018). The book is not a traditional book of economics as history and philosophy play a big role. Not surprisingly Donni studied Economics, at Berkeley, and Classics, at Stanford. She now holds a position in History at Shanghai University. Previous studies have applied quantitative models and social science methods to determine the extent of market activities and growth in ancient Greece. Before the Market, instead, employs techniques from the cultural-linguistic turn to examine economic matters. With this approach the author argues to be able to shed light on a new economic system—one that is vastly different from the market system. At the same time, the underlying theoretical framework that links culture, identity, and action also prompts a radical redefinition of state power, democracy, and community, resulting in a narrative of ancient Greece that is both more dynamic and complex than in conventional accounts and also more useful and relevant for today’s world. For the concerned reader, this book is laden with lessons and ideas for both envisioning wholesale economic transformation that is needed to address the problems of the 21st century as well as examples of specific practice that can be adopted. Concepts like the commons, collective knowledge, joint ownership, and gift exchange speak directly to a number of grass-roots movements that seek to embrace alternative ways of organizing economic life. In addition, Before the Market provides a reading of democracy politics that points the way forward to a truly tolerant, inclusive and egalitarian global order. A very interesting, erudite, sophisticated and provocative book worth reading. Andrea Bernardi is Senior Lecturer in Employment and Organization Studies at Oxford Brookes University in the UK. He holds a doctorate in Organization Theory from the University of Milan, Bicocca. He has held teaching and research positions in Italy, China and the UK. Among his research interests are the use of history in management studies, the co-operative sector, and Chinese co-operatives. His latest project is looking at health care in rural China. He is the co-convener of the EAEPE’s permanent track on Critical Management Studies.   Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The Future of University Credentials: New Developments at the Intersection of Higher Education and Hiring (Harvard Education Press, 2016) offers a thorough and urgently needed overview of the burgeoning world of university degrees and credentials. At a time of heightened attention to how universities and colleges are preparing young people for the working world, questions about the meaning and value of university credentials have become especially prominent. Sean R. Gallagher, EdD, guides us through this fast-changing terrain, providing much-needed context, details, and insights. The book casts a wide net, focusing on traditional higher education degrees and on the myriad certificates and other postsecondary awards that universities and other institutions now issue. He describes the entire ecosystem of credentials, including universities and colleges, employers, government agencies, policy makers and influencers—and, not least, the students whose futures are profoundly affected by these certifications. And he looks intently at where university credentials might be headed, as educational institutions seek to best serve students and employers in a rapidly changing world. Hoover Harris, editor of Degree or Not Degree?, holds a PhD in English Literature and writes and speaks about trends in higher education. He can be reached by email at hooverharris@icloud.co or on Twitter @degreenot. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Austrian Reconstruction and the Collapse of Global Finance, 1921–1931 (Harvard University Press, 2018), Nathan Marcus, analyzes the events that took place around the financial crisis in Austria after World War I. When Austria was the first interwar country in Europe to suffer a hyperinflation the League of Nations stepped in to offer financial support and advice. But a total collapse of the financial system in 1931 couldn’t be avoided. Nathan Marcus offers a new perspective on the already well researched subject and an individual approach not only with regards to content but also on a methodological level by interlacing multiple perspectives and sources (such as journals and caricatures, literature, anecdotes etc.) with each other to create a wider understanding for the events. Nathan Marcus is an Assistant Professor of Modern European History at the Higher School of Economics, National Research University, Saint Petersburg, Russia. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Today I was joined by Seamus Grimes from Ireland where he is Emeritus Professor at the National University of Ireland, Galway. With Yutao Sun (Dalian University of Technology), he just published a very interesting and timely book China and Global Value Chains: Globalization and the Information and Communications Technology Sector (Routledge, 2018). President Trump has raised the intriguing question of bringing the manufacturing of companies like Apple back from China to the U.S. This book, however, argues that in this age of the knowledge-based economy and increased globalization, that value creation and distribution based on knowledge and innovation activities are at the core of economic development. The double-edged sword of globalization has transformed China’s economic development in the past few decades. Although China has benefitted from globalization and is now the second largest economy in the world, having become a global manufacturing power and the biggest exporter of high-tech products, it continues to be highly dependent on foreign sources of capital and technology. The book explores the core of the Chinese economy from the perspective of the global value chain, combining analysis of inward investment, international trade, science and technology and innovation and economic development. Specifically, it investigates China’s evolving role with some innovative Chinese companies emerging in the global market and China’s ongoing efforts to become an innovation-driven economy. This is a very interesting book on the complexity of the global industrial systems that are behind the production of the electronic goods that we use daily. Beside China and this specific sector, it is a timely warning for those that argue in favour of raising barriers or regulating otherwise the current flow of goods and components worldwide. Andrea Bernardi is Senior Lecturer in Employment and Organization Studies at Oxford Brookes University in the UK. He holds a doctorate in Organization Theory from the University of Milan, Bicocca. He has held teaching and research positions in Italy, China and the UK. Among his research interests are the use of history in management studies, the co-operative sector, and Chinese co-operatives. His latest project is looking at health care in rural China. He is the co-convener of the EAEPE’s permanent track on Critical Management Studies.   Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Michael Sandel is Anne T. and Robert M. Bass Professor of Government at Harvard University. Sandel is an internationally renowned political philosopher who Newsweek has lauded as “the world’s most relevant living philosopher.” His latest project is a video series titled What Money Can’t Buy, which has Michael and an international group of college students exploring the question “What, if anything, is wrong with a world in which everything is for sale?” You can view the series for free at whatmoneycantbuy.org.The "Why We Argue" podcast is produced by the Humanities Institute at the University of Connecticut as part of the Humility and Conviction in Public Life project. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

I met in Rome, at Sapienza University, with two of the three editors of a great new book in economics. Marcella Corsi is professor of economics at Sapienza University of Rome, Italy, and editor of the International Review of Sociology. Carlo D’Ippoliti is associate professor of economics at Sapienza University of Rome, Italy, and editor of PSL Quarterly Review. He is also one of the hosts of this channel. The third editor is Jan Kregel, director of research at the Levy Economics Institute of Bard College, USA, and professor of development finance at Tallinn University of Technology, Estonia. He is also co-editor of the Journal of Post-Keynesian Economics. Classical Economics Today (Anthem Press, 2018) is a collection of essays in honour of Alessandro Roncaglia. It provides an overview on his contributions and on the Classical tradition in Economics. It is a history of ideas in Economics but also an attempt to discuss their contemporary relevance to economic policy and economic theory. The contributors to the volume, like all classical economists in general, regard history as a useful tool of analysis rather than a specialist object of investigation. By denying that a single, all-encompassing mathematical model can explain everything we are interested in, Classical political economy necessarily requires a comparison and integration of several pieces of theory as the only way to discuss economics and economic policy. Economists inspired by the Classical approach believe that economic theory is historically conditioned: as social systems evolve, the appropriate theory to represent a certain phenomenon must evolve too. Therefore, plurality in methods, including the history of economic thought, must be a deliberate choice, as evidenced by the essays in Classical Economics Today: Essays in Honor of Alessandro Roncaglia. The book is a tribute to Alessandro Roncaglia, to his personality and his research interests. Roncaglia’s research is based on Schumpeter’s dictum that good economics must encompass history, economic theory and statistics, and therefore does not generally take the form of elegant formal models that are applicable to all and everything. In this direction, Roncaglia is inspired by the Classical economists of the past, and becomes a model for present-day Classical economists. This is a book for economists, particularly for those who regard history of economic thought as a useful tool of analysis rather than a specialist object of investigation. But the book is approachable by students and non-economists too. The non-expert reader would be delighted to discover that economics is different to what they expected. Andrea Bernardi is Senior Lecturer in Employment and Organization Studies at Oxford Brookes University in the UK. He holds a doctorate in Organization Theory from the University of Milan, Bicocca. He has held teaching and research positions in Italy, China and the UK. Among his research interests are the use of history in management studies, the co-operative sector, and Chinese co-operatives. His latest project is looking at health care in rural China. He is the co-convener of the EAEPE’s permanent track on  Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

What’s not to like about economic growth, you might ask? Well, quite a lot, it turns out, once we begin to examine how GDP and other measures of the economy are constructed, and once we see what they leave out (and perhaps just as troubling, what they leave in). Join us as we speak with David Pilling about his new book, The Growth Delusion: Wealth, Poverty, and the Well-Being of Nations (Tim Duggan Books/Bloomsbury, 2018), which helps us understand the problems with how we typically evaluate national economies and offers some alternative approaches even though each of those options presents their own challenges. 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 University Press, 2017). Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Today I talked to Fahad Bishara about his book A Sea of Debt: Law and Economic Life in the Western Indian Ocean, 1780-1950 (Cambridge University Press, 2017). Dr. Bishara is Assistant Professor of History at the University of Virginia. He specializes in the economic and legal history of the Indian Ocean and Islamic world. In this podcast, Dr. Bishara discusses his sophisticated history that explores the intricate legal and economic regimes that traversed the Western Indian Ocean for generations. He also talks about how he effectively mined legal documents to craft this narrative. The following podcast was originally published on H-Law’s Legal History Podcast. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics