New Books in Economics

The creation of the postwar welfare state in Great Britain did not represent the logical progression of governmental policy over a period of generations. As George R. Boyer details in The Winding Road to the Welfare State: Economic Insecurity and Social Welfare Policy in Britain (Princeton University Press, 2019), it only emerged after decades of different legislative responses to the problems of poverty that reflected shifting societal attitudes on the subject. As Boyer explains, welfare policy in the early 19th century primarily consisted of cash or in-kind payments provided for people living in their homes. This changed with the Poor Law Amendment Act of 1834, which replaced it with the infamous workhouse system. Though this brought down expenditures on the poor, the expectation that poverty was being reduced was belied by a series of reports at the end of the century which exposed the extent of urban poverty to a shocked nation. In response, the Liberal governments of the early 20th century passed a series of laws that established unemployment insurance and pensions for the elderly. While these expanded considerably the role of the state in providing for the poor, Boyer demonstrates that they fell well short of a comprehensive system, one which William Beveridge detailed in a famous 1942 report that served as the blueprint for the legislation passed by the Labour government after the Second World War. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Disruption: The Global Economic Shocks of the 1970s and the End of the Cold War (Cornell University Press, 2024), Dr. Michael De Groot argues that the global economic upheaval of the 1970s was decisive in ending the Cold War. Both the West and the Soviet bloc struggled with the slowdown of economic growth; chaos in the international monetary system; inflation; shocks in the commodities markets; and the emergence of offshore financial markets. The superpowers had previously disseminated resources to their allies to enhance their own national security, but the disappearance of postwar conditions during the 1970s forced Washington and Moscow to choose between promoting their own economic interests and supporting their partners in Europe and Asia.Dr. de Groot shows that new unexpected macroeconomic imbalances in global capitalism sustained the West during the following decade. Rather than a creditor nation and net exporter, as it had been during the postwar period, the United States became a net importer of capital and goods during the 1980s that helped fund public spending, stimulated economic activity, and lubricated the private sector. The United States could now live beyond its means and continue waging the Cold War, and its allies benefited from access to the booming US market and the strengthened US military umbrella. As Disruption demonstrates, a new symbiotic economic architecture powered the West, but the Eastern European regimes increasingly became a burden to the Soviet Union. They were drowning in debt, and the Kremlin no longer had the resources to rescue them.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

Podcasting in a Platform Age: From an Amateur to a Professional Medium (Bloomsbury, 2024) explores the transition underway in podcasting by considering how the influx of legacy and new media interest in the medium is injecting professional and corporate logics into what had been largely an amateur media form.Many of the most high-profile podcasts today, however, are produced by highly-skilled media professionals, some of whom are employees of media corporations. Legacy radio and new media platform giants like Google, Apple, Amazon, and Spotify are also making big (and expensive) moves in the medium by acquiring content producers and hosting platforms. This book focuses on three major aspects of this transformation: formalization, professionalization, and monetization. Through a close read of online and press discourse, analysis of podcasts themselves, participant observations at podcast trade shows and conventions, and interviews with industry professionals and individual podcasters, John Sullivan outlines how the efforts of industry players to transform podcasting into a profitable medium are beginning to challenge the very definition of podcasting itself. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Based on extensive research into weekly rural publishers and rural readers, Reviving Rural News: Transforming the Business Model of Community Journalism in the US and Beyond (Routledge, 2024) outlines a mode of practice by which small publications can stay financially sound and combat the rise of "news deserts." This book argues that publishers must actively reach out to their communities to foster a sense of belonging and shared purpose. A new model known as Press Club -- tested for a year at a weekly newspaper in Kansas -- is presented as a template through which memberships, social events, and online newsletters can create a more sustainable path for the future. Reviving Rural News will be of interest to advanced students and researchers of local, community, and rural journalism as well as practitioners looking to bring about real-world change in journalism organizations. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The global battle among the three dominant digital powers―the United States, China, and the European Union―is intensifying. All three regimes are racing to regulate tech companies, with each advancing a competing vision for the digital economy while attempting to expand its sphere of influence in the digital world. In Digital Empires: The Global Battle to Regulate Technology (Oxford UP, 2023), her provocative follow-up to The Brussels Effect, Anu Bradford explores a rivalry that will shape the world in the decades to come.Across the globe, people dependent on digital technologies have become increasingly alarmed that their rapid adoption and transformation have ushered in an exceedingly concentrated economy where a few powerful companies control vast economic wealth and political power, undermine data privacy, and widen the gap between economic winners and losers. In response, world leaders are variously embracing the idea of reining in the most dominant tech companies. Bradford examines three competing regulatory approaches―the American market-driven model, the Chinese state-driven model, and the European rights-driven regulatory model―and discusses how governments and tech companies navigate the inevitable conflicts that arise when these regulatory approaches collide in the international domain. Which digital empire will prevail in the contest for global influence remains an open question, yet their contrasting strategies are increasingly clear.Digital societies are at an inflection point. In the midst of these unfolding regulatory battles, governments, tech companies, and digital citizens are making important choices that will shape the future ethos of the digital society. Digital Empires lays bare the choices we face as societies and individuals, explains the forces that shape those choices, and illuminates the immense stakes involved for everyone who uses digital technologies.Jake Chanenson is a computer science Ph.D. student and law student at the University of Chicago. Broadly, Jake is interested in topics relating to HCI, privacy, and tech policy. Jake’s work has been published in top venues such as ACM’s CHI Conference on Human Factors in Computing Systems. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The anti-tax movement is "the most important overlooked social and political movement of the last half century", according to our guest Michael J. Graetz. In his book The Power to Destroy: How the Antitax Movement Hijacked America (Princeton UP, 2024), Graetz chronicles the movement from a fringe theory promoted by zealous outsiders using false economic claims and thinly veiled racist rhetoric to a highly organized mainstream lobbying force, funded by billionaires, that dominates and distorts politics. Building on vague and disproven theories about "supply side" economics, the movement has undermined long-held beliefs that taxes are a reasonable price to pay for civil society, sound infrastructure, national security, and shared prosperity. Leaders have attacked the IRS, protected tax loopholes, and pushed aggressively for tax cuts from Ronald Reagan to Donald Trump. Also known as "trickle-down" or "voodoo" economics, these theories falsely claim that tax cuts will pay for themselves, when in fact they have led to the need for increased debt, including massive foreign debt, to pay for critical national investments. The antitax movement has expanded to include anti-government ideas and now, as told by Graetz, threatens the nation’s social safety net, increases inequality, saps American financial strength, and undermines the status of the US dollar.In 1819, Chief Justice John Marshall declared that the power to tax entails “the power to destroy.” In this book Graetz argues that it is the antitax movement itself that wields this destructive power. Suggested reading: Cloud Cuckoo Land, by Anthony Doerr Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

This provocative and interesting book has received considerable attention. Roaring reviews and interviews include  The Financial Times (UK), The Telegraph (UK), Modem (Radio Switzerland Italian), Hufftington Post (Italy), El Diario (Spain), ABC (Australia), History Today (UK), The New Republic (USA), The New Yorker (USA), among others around the world.During the interview, Alfani tells of the challenges of putting together. Also, how the book builds on prior research and his interests in diverse fields in social sciences. About the book:How the rich and the super-rich throughout Western history accumulated their wealth, behaved (or misbehaved) and helped (or didn't help) their communities in times of crisis.The rich have always fascinated, sometimes in problematic ways. Medieval thinkers feared that the super-rich would act 'as gods among men'; much more recently Thomas Piketty made wealth central to discussions of inequality. In this book, Guido Alfani offers a history of the rich and super-rich in the West, examining who they were, how they accumulated their wealth and what role they played in society. Covering the last thousand years, with frequent incursions into antiquity, and integrating recent research on economic inequality, Alfani finds--despite the different paths to wealth in different eras--fundamental continuities in the behaviour of the rich and public attitudes towards wealth across Western history. His account offers a novel perspective on current debates about wealth and income disparity.Alfani argues that the position of the rich and super-rich in Western society has always been intrinsically fragile; their very presence has inspired social unease. In the Middle Ages, an excessive accumulation of wealth was considered sinful; the rich were expected not to appear to be wealthy. Eventually, the rich were deemed useful when they used their wealth to help their communities in times of crisis. Yet in the twenty-first century, Alfani points out, the rich and the super-rich--their wealth largely preserved through the Great Recession and COVID-19--have been exceptionally reluctant to contribute to the common good in times of crisis, rejecting even such stopgap measures as temporary tax increases. History suggests that this is a troubling development--for the rich, and for everyone else. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Why and how local coffee bars in Italy--those distinctively Italian social and cultural spaces--have been increasingly managed by Chinese baristas since the Great Recession of 2008?Italians regard espresso as a quintessentially Italian cultural product--so much so that Italy has applied to add Italian espresso to UNESCO's official list of intangible heritages of humanity. The coffee bar is a cornerstone of Italian urban life, with city residents sipping espresso at more than 100,000 of these local businesses throughout the country. And yet, despite its nationalist bona fides, espresso in Italy is increasingly prepared by Chinese baristas in Chinese-managed coffee bars. In Chinese Espresso: Contested Race and Convivial Space in Contemporary Italy (Princeton UP, 2024), Grazia Ting Deng explores the paradox of "Chinese espresso"--the fact that this most distinctive Italian social and cultural tradition is being preserved by Chinese immigrants and their racially diverse clientele.Deng investigates the conditions, mechanisms, and implications of the rapid spread of Chinese-owned coffee bars in Italy since the Great Recession of 2008. Drawing on her extensive ethnographic research in Bologna, Deng describes an immigrant group that relies on reciprocal and flexible family labor to make coffee, deploying local knowledge gleaned from longtime residents who have come, sometimes resentfully, to regard this arrangement as a new normal. The existence of Chinese espresso represents new features of postmodern and postcolonial urban life in a pluralistic society where immigrants assume traditional roles even as they are regarded as racial others. The story of Chinese baristas and their patrons, Deng argues, transcends the dominant Eurocentric narrative of immigrant-host relations, complicating our understanding of cultural dynamics and racial formation within the shifting demographic realities of the Global North. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Dani Rodrik is a Ford Foundation Professor of International Political Economy at Harvard’s Kennedy School, recognized for his insights on globalization and industrial policy. In this discussion, he shares his academic journey from Turkey to the U.S., emphasizing the integration of political science and economics. Rodrik argues for a transformative approach to industrial policy, addressing the labor market impacts of globalization and automation. He highlights the importance of creating good jobs for societal well-being and critiques current neoliberal economic practices.

Historian and standup comedian Sean Vanatta discusses the rise of the credit card business in the US, exploring the interplay between banks, consumers, and governments leading to diminished regulatory power. Topics include predatory inclusion in credit markets, the evolution of consumer credit, Citibank's role in the national economy, and the Marquette Supreme Court decision.