New Books in Economics

After close to three decades of the hegemony of free market ideas, the state has made a big comeback as an economic actor since the 2008 financial crisis. China’s state-owned companies and international financial institutions have made headlines for their growing influence in the world economy. State-backed investment vehicles based in the Gulf states have made high-profile investments in global real estate markets and professional sports, while their state-owned firms have become world leaders in the logistics and natural resource sectors. Governments around the world – including in the heartlands of advanced capitalism – have promoted the interests of ‘national champion’ companies in strategic economic sectors, bailed out financial institutions by taking toxic assets off of their balance sheets, and implemented industrial policies with the aim of moving into the most profitable segments of global value chains.What accounts for this renewed prominence of states in global capitalism? Does the increased activism of states mark the end of neoliberal hegemony? And how do contemporary state-led economic initiatives compare to the heyday of Keynesian and developmentalist policy agendas in the decades immediately following World War II?The book that we are discussing today, The Spectre of State Capitalism (Oxford UP, 2024) by Ilias Alami and Adam Dixon, marks the culmination of a highly productive research project that the authors have led on the compulsions and constraints that shape the ‘new’ state capitalism. The book aims to challenge narratives that pathologize state capitalism as an authoritarian deviation from the ‘normal’ course of free market capitalism while also showing how new forms of state activism depart from earlier models of state-led development.Ilias Alami is a University assistant professor in the political economy of development at Cambrdige University. His previous book is Money Power and Financial Capital in Emerging Markets (2019). Adam Dixon holds the Adam Smith Chair in Sustainable Capitalism at Heriot Watt University’s Ediburgh Business School. He is the author of several books, most recently Sovereign Wealth Funds: Between States and Markets (2022).This book is available open access here. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

From airport bookstores to deckchairs, as audiobooks downloaded by commuters, and on Kindles and other portable devices, twenty-first century bestsellers move in old and new ways. In Space, Place, and Bestsellers: Moving Books (Cambridge University Press Elements in Publishing and Book Culture series, 2024), Lisa Fletcher and Elizabeth Leane examine the locations and mobilities of the contemporary bestseller as a multi-format commercial object. It employs paratextual, textual, and site-based analysis of the spatiality of bestsellers and considers the centrality of geography to the commercial promise of these books. Space, Place, and Bestsellers provides analysis of the spatial logic of bestseller lists, evidence-rich accounts of the physical and digital retail sites through which bestsellers flow, and new interpretations of how affixing the label 'bestseller' individual authors and titles generates industrial, social, and textual effects. Through its multi-layered analysis, this book offers a new model for studying the spatiality of popular fiction. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The achievement of Singapore’s national public housing program is impressive by any standard. Within a year of its first election victory in 1959, the People's Action Party began to deliver on its promises in dramatic fashion. By the 1980s, 85 percent of the population had been rehoused in modern flats, and today, decades later, the provision of public housing shapes Singapore's environment. The standard accounts of this remarkable transformation leave many questions unanswered, from the historical to urgent matters of current policy: Why, of all the pressing demands of Singapore's newly enfranchised citizens, was housing such a priority back in the 1960s? How did the provision of social welfare via public housing shape Singapore's industrialisation and development over the last 50 years? Looking ahead, can the HDB continue to be a source of affordable housing for young families, while long-standing appreciation in flat prices provides for the retirement of their parents? How can this be managed as 99-year leases on flats run down? When young people from wealthy families purchase subsidised flats and then resell them for a profit as soon as they can, what does that do for the already pressing issues of inequality in Singapore?Public Subsidy, Private Accumulation: The Political Economy of Singapore's Public Housing (NUS Press, 2024) is a culmination of Dr. Chua Beng Huat's study of Singapore's public housing system, its dynamics, and the ways it functions in Singapore's politics. Does every great success hold within it the seeds of failure? The book will be of interest to citizens, and scholars of the political economy of Asian development, of social welfare provision, and of Singapore.This interview was conducted by Dr. Miranda Melcher whose new 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/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Eli Revelle Yano Wilson, a sociologist delving into the craft beer industry, explores the complexities of pursuing passion-driven careers within this artisan economy. He highlights how personal connections, cultural ideals, and industry biases create divergent career paths, often excluding women and people of color. Wilson discusses the challenges faced during the pandemic, the impact of systemic inequalities, and the interplay of passion with workplace structures. His insights reveal the stark contrast between the allure of craft brewing and the harsh realities workers encounter.

Meg Rithmire, a Harvard Business School professor and expert on business-state relations in authoritarian regimes, dives into the complex dynamics of economic growth and political power in Asia. She discusses crony capitalism and its pitfalls, illustrating how these relationships can lead to crises or stagnation. Rithmire shares gripping case studies from Indonesia, Malaysia, and China, revealing how financial liberalization and political ties shape economic outcomes. The conversation highlights the challenges business leaders face in navigating these precarious ties.

Thomas White, an expert in China and Sustainable Development, discusses the intricate bond between livestock, particularly the Bactrian camel, and national identity in modern China. He explores how state-led environmental policies impact pastoral communities, especially in Inner Mongolia, revealing cultural resistance to these changes. Topics include the role of camel husbandry in preserving heritage, the effects of urbanization on traditional lifestyles, and the ongoing negotiation between modernization and the preservation of pastoral practices.

Behavioral scientist Alison Fragale offers powerful new insights and a practical playbook for women to advance in any workplace, full of tips, tricks, and strategies to help secure that elusive corner office.Over decades of research, speaking engagements, and mentorship, psychologist and professor Alison Fragale encountered recurring questions from high powered and early career women alike: How do women thread the needle of kindness and competence in the workplace? How can women earn credit for their accomplishments, negotiate better, and navigate complex office politics without losing the goodwill of their peers?Fragale investigated and determined that many women's workplace issues boil down to what psychologists call status: the perception of them by others. No amount of power-- no degree, title, or paycheck-- will raise a woman's workplace stature unless it also affects how others see her. Acknowledging this roadblock, Fragale pulls back the curtain on how we can change how others see us by developing our standing as a "likeable badass." By cultivating perceptions of warmth and assertiveness, women can achieve the kind of reputation that leads to a seat at the table and a fulfilling career path.Likeable Badass: The New Science of Successful Women (Doubleday Books, 2024) is equal parts behavioral science and life hacks, weaving together rigorous research with actionable advice and impactful stories from a diverse array of women. This is a warm, heartening book written for women, their allies, and anyone who struggles to rise, and wants evidence-based, practical strategies for success, served with a side of inspiration and humor. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

David Lay Williams, a political theorist specializing in economic inequality, delves into the impacts of this issue on Western political thought in his latest work. He discusses how thinkers like Plato, Hobbes, and Marx each grappled with the concentration of wealth and its political ramifications. Williams highlights the necessity of integrating economic discussions into political discourse, urging for a cultural shift that emphasizes compassion between socioeconomic classes. The rich tradition of thought is explored, making the case for understanding economic inequality's profound effects today.

In Unexpected Revolutionaries: How Central Banks Made and Unmade Economic Orthodoxy (Cornell University Press, 2024), Dr. Manuela Moschella investigates the institutional transformation of central banks from the 1970s to the present.Central banks are typically regarded as conservative, politically neutral institutions that uphold conventional macroeconomic wisdom. Yet in the wake of the 2008 global financial crisis and the 2020 COVID-19 crisis, central banks have upended observer expectations by implementing largely unknown and unconventional monetary policies. Far from abiding by well-established policy playbooks, central banks now engage in practices such as providing liquidity support for a wide range of financial institutions and quantitative easing. They have even stretched the remit of monetary policy into issues such as inequality and climate change.Dr. Moschella argues that the political nature of central banks lies at the heart of these transformations. While formally independent, central banks need political support to justify their policies and powers, and to obtain it, they carefully manage their reputation among their audience selected officials, market actors, and citizens. Challenged by reputational threats brought about by twenty-first-century recessionary and deflationary forces, central banks such as the Federal Reserve System and the European Central Bank strategically deviated from orthodox monetary policies to preempt or manage political backlash and to regain public trust. Central banks thus evolved into a new role only in coordination with fiscal authorities and on the back of public contestation.Eye-opening and insightful, Unexpected Revolutionaries is necessary reading for discussions on the future of the neoliberal macroeconomic regime, the democratic oversight of monetary policymaking, and the role that central banks canor cannotplay in our domestic economies.This interview was conducted by Dr. Miranda Melcher whose new 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/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Jay Richards, author of 'The Human Advantage,' explores the vital role of human creativity and ethics in the face of advancing technology. He argues that uniquely human traits cannot be replicated by machines, stressing the importance of entrepreneurship and moral judgment. The discussion touches on the evolving job landscape influenced by AI, the gig economy's implications for meaningful work, and the ethical challenges posed by new technologies. Richards urges listeners to harness their innate strengths to thrive in an increasingly automated world.