New Books in Economics

Why do international donors brand foreign aid? And what impact does it have on popular attitudes towards them? Join Matthew Winters and Petra Alderman as they talk about soft power, foreign aid branding, and popular attitudes towards USAID and Japan in India, Bangladesh, and Uganda. They discuss whether foreign aid branding works and address several tensions linked to this practice, including branding in the context of unequal North-South power relations and colonial legacies.Matthew Winters is Professor of Political Science at the University of Illinois and a recent holder of the Fulbright-University of Birmingham Distinguished Scholar Award at the International Development Department at the University of Birmingham.Petra Alderman is a Post-Doctoral Research Fellow in Leadership for Inclusive and Democratic Politics at the University of Birmingham and Research Fellow at CEDAR.The People, Power, Politics podcast brings you the latest insights into the factors that are shaping and re-shaping our political world. It is brought to you by the Centre for Elections, Democracy, Accountability and Representation (CEDAR) based at the University of Birmingham, United Kingdom. Join us to better understand the factors that promote and undermine democratic government around the world and follow us on X (Twitter) at @CEDAR_Bham! Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Think that today's debates about the role of the Federal Reserve Bank, financial regulation, "too big to fail", etc. are new? Think again. Who should control banks, who should regulate banks, what should banks even do--these questions have been debated since the founding of the Republic. Replace CNBC's David Faber with Alexander Hamilton, and Joe Kernan with Thomas Jefferson (or James Madison) and the arguments about banking, moral hazard, and regulation would be largely the same, though the attire would be quite different.Kathleen Day's new book Broken Bargain: Bankers, Bailouts, and the Struggle to Tame Wall Street (Yale University Press, 2019) provides a detailed two-century history of the give and take between government authority and financial institutions (and the individuals caught between them). The challenges over time have changed--the absence of a single currency in the early 19th century, insufficient credit in the late 19th century, the roaring and patently stupid 1920s, and then the whole range of financial innovations in the postwar period--but the key issues recur over and over again. Day sides in the end with the need for consistent regulation from impartial and empowered bureaucrats, but alas, the last two centuries have shown that they are hard to come by. Not everyone will agree with her take on banks and regulation, but there can be no doubt about the underlying "capitalism is messy" theme running through our history and this book.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 @Back2BizBook 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

Since coming to power in 2002, Turkey’s governing party, the AKP, has made poverty relief a central part of their political program. In addition to neoliberal reforms, AKP’s program has involved an emphasis on Islamic charity that is unprecedented in the history of the Turkish Republic. To understand the causes and consequences of this phenomenon, Zencirci introduces the concept of the Muslim Social, defined as a welfare regime that reimagined and reconfigured Islamic charitable practices to address the complex needs of a modern market society.In The Muslim Social: Neoliberalism, Charity, and Poverty in Turkey (Syracuse UP, 2024), Zencirci explores the blending of religious values and neoliberal elements in dynamic, flexible, and unexpected ways. Although these governmental assemblages of Islamic neoliberalism produced new forms of generosity, distinctive notions of poverty, and novel ways of relating to others in society, Zencirci reveals how this welfare regime privileged managerial efficiency and emotional well-being at the expense of other objectives such as equality, development, or justice. The book provides a lens onto the everyday life of Islamic neoliberalism, while also mapping the kind of political concerns that animate poverty governance in our capitalist present.Gizem Zencirci is an associate professor of political science at Providence College. Her work has been published in journals such as the International Journal of Middle East Studies, Journal of the American Academy of Religion, and the Journal of Cultural Economy. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Esoteric and frequently disinterested in the public good, financial institutions can be hard to navigate for those seeking to advance social welfare. My Episode 10 guest Paul Katz of the Jain Family Institute is trying to change that by building innovative tools to help visionary leaders in Brazil grow social wealth. During our lively exchange, Paul helped me understand how much history fits into his efforts and his organization's vision. We talked about Paul's discovery of his superpowers derived from a PhD in history, the importance of being a well-rounded researcher, and how it's often difficult to separate neatly quant from qual. We also discussed the significance of networking and wondered why historians routinely undervalue their expertise, thereby undercutting their chances of success in non-academic domains. Ultimately, our conversation is about the surprising ways to use history for the public good, contribute to organizational effectiveness, and explore new horizons for professional growth. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

What is social mobility? In Social Mobility (Polity Press, 2023), Anthony Heath, an Emeritus Professor of Sociology at the University of Oxford and Yaojun Li, a Professor of Sociology at the University of Manchester, explore and explain this concept, setting out why the idea matters for both social scientists and the general reader. The book draws on a huge range of research, outlining the history of social mobility research, discussing central theories and approaches in sociology and economics, and detailing international comparisons and trends. The book highlights how social mobility is shaped by gender and ethnicity, along with the role of social class. Ultimately the book helps to explain who gets ahead in society and why; as a result the book will be essential reading across the social sciences, as well as for anyone interested in how society works. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Poverty is big business in America. The federal government spends about $900 billion a year on programs that directly or disproportionately impact poor Americans, including antipoverty programs such as the earned income tax credit, Medicaid, and affordable housing vouchers and subsidies. States and local governments spend tens of billions more. Ironically, these enormous sums fuel the “corporate poverty complex,” a vast web of hidden industries and entrenched private-sector interests that profit from the bureaucracies regulating the lives of the poor. From bail bondsmen to dialysis providers to towing companies, their business models depend on exploiting low-income Americans, and their political influence ensures a thriving set of industries where everyone profits except the poor, while U.S. taxpayers foot the bill.In Poverty for Profit: How Corporations Get Rich off America’s Poor (The New Press, 2024), veteran journalist Anne Kim investigates the multiple industries that infiltrate almost every aspect of the lives of the poor—health care, housing, criminal justice, and nutrition. She explains how these businesses are aided by public policies such as the wholesale privatization of government services and the political influence these industries wield over lawmakers and regulators. Supported by original investigative reporting on the lesser-known players profiting from the antipoverty industry, Poverty for Profit adds a crucial dimension to our understanding of how structural inequality and structural racism function today. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Dialysis is a medical miracle, a treatment that allows people with kidney failure to live when otherwise they would die. It also provides a captive customer for the dialysis industry, which values the steady revenues that come from critically required long-term care that is guaranteed by the government. Tom Mueller's six year deep dive into the dialysis industry has yielded his latest book, How to Make a Killing: Blood, Death, and Dollars in American Medicine (W. W. Norton, 2023). It's both an historical account of this lifesaving treatment and an indictment of the industry that is dominated by two for-profit companies that control ~80% of the market.  There is a precarious balance between ethical care for patients and the prioritization of profits for the providers, a tension that has led to ethical, political, and legal debates about the rationing and exploitation of life-saving care and quality of life. Dialysis services are desperately needed by patients who require the dangerous, uncomfortable, and exhausting treatments multiple times per week, and pay for it through complex insurance procedures.Tom Mueller’s book includes a vivid account of CEOs who lead their companies with messianic zeal to drive revenues continually up while simultaneously reducing the cost of care. He introduces us to the doctors charged with reducing those costs even at the expense of high-quality care and negative health outcomes. And we meet the patients themselves, who have little choice but to put their lives and well-being at the mercy of this system.How did a lifesaving medical breakthrough become a for-profit enterprise that threatens many of the people it’s meant to save? And who are the brave people -patients, doctors, and employees of the system who are willing to tell their stories despite tremendous pressure to remain silent? And why do we as Americans accept worse outcomes at higher costs than the rest of the world?Tom Mueller's highly readable yet devastating book illustrates the dialysis industry as a microcosm of American medicine. Mueller challenges us to find a solution for dialysis, an approach that could also provide the opportunity to begin fixing our country’s dysfunctional healthcare system and a fighting chance at restoring human health outcomes, rather than the extraction of profits, as its true purpose.To contact Tom Mueller, visit www.tommueller.coSuggested reading:  The Body's Keepers by Paul L. Kimmel, M.D. The Occasional Human Sacrifice: Medical Experimentation and the Price of Saying No by Carl Elliott Also mentioned:  How to Get Away with Merger by Thomas G. Wollman (NBER working paper, 2020) "How Acquisitions Affect Firm Behavior and Performance" by Eliason, Heebsh et al. (The Quarterly Journal of Economics, 2020) Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The UAW's Southern Gamble: Organizing Workers at Foreign-Owned Vehicle Plants (IRL Press, 2023) is the first in-depth assessment of the United Auto Workers' efforts to organize foreign vehicle plants (Daimler-Chrysler, Mercedes-Benz, Nissan, and Volkswagen) in the American South since 1989, an era when union membership declined precipitously. Stephen J. Silvia chronicles transnational union cooperation between the UAW and its counterparts in Brazil, France, Germany, and Japan and documents the development of employer strategies that have proven increasingly effective at thwarting unionization.Silvia shows that when organizing, unions must now fight on three fronts: at the worksite; in the corporate boardroom; and in the political realm. The UAW's Southern Gamble makes clear that the UAW's failed campaigns in the South can teach hard-won lessons about challenging the structural and legal roadblocks to union participation and effectively organizing workers within and beyond the auto industry.Stephen J. Silvia is a Professor at American University's School of International Service, where he teaches international economics, international trade relations, and comparative politics. He is the author of Holding the Shop Together. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

On this episode of International Horizons, Francesco Duina, Charles A. Dana Professor of Sociology at Bates College and Luca Storti, Associate Professor of Economic Sociology at the University of Turin in Italy and a Research Fellow of the Ralph Bunche Institute for International Studies, discuss the rise of inequalities around the globe and the divergent attitudes towards them since 1970. How can those inequalities be broken down? In this week’s episode, Duina and Storti preview their book-in-progress on The Social Acceptance of Inequality, and they examine four types of logic leading us to accept inequalities in today’s world. Not surprisingly, the concept of meritocracy plays a major role in our thinking about contemporary inequality, although perhaps more so in the United States than in Europe. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

A sweeping history of the United States’ economy and politics, in Shock Values: Prices and Inflation in American Democracy (U Chicago Press, 2024), Carola Binder reveals how the American state has been shaped by a massive, ever-evolving effort to insulate its economy from the real and perceived dangers of price fluctuations. Carola Binder narrates how the pains of rising and falling prices have brought lasting changes for every generation of Americans. And with each brush with price instability, the United States has been reinvented—not as a more perfect union, but as a reflection of its most recent failures.Shock Values tells the untold story of prices and price stabilization in the United States. Expansive and enlightening, Binder recounts the interest-group politics, legal battles, and economic ideas that have shaped a nation from the dawn of the republic to the present.Carola Binder is Associate Professor and Chair of Economics at Haverford College. Twitter.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/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics