New Books in Economics

Going for Broke, edited by Alissa Quart, Executive Director of the Economic Hardship Reporting Project, and David Wallis, former Managing Director of EHRP, gives voice to a range of gifted writers for whom "economic precarity" is more than just another assignment. All illustrate what the late Barbara Ehrenreich, who conceived of EHRP, once described as "the real face of journalism today: not million dollar-a-year anchorpersons, but low-wage workers and downwardly spiraling professionals."One essayist and grocery store worker describes what it is like to be an "essential worker" during the pandemic; another reporter and military veteran details his experience with homelessness and what would have actually helped him at the time. These dozens of fierce and sometimes darkly funny pieces reflect the larger systems that have made writers' bodily experiences, family and home lives, and work far harder than they ought to be.Featuring introductions by luminaries including Michelle Tea, Keeanga-Yamahtta Taylor, and Astra Taylor, Going for Broke is revelatory. It shows us the costs of income inequality to our bodies and our minds--and demonstrates real ways to change our conditions. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Bankers brought the global economic system to its knees in 2007 and nearly did the same in 2020. Both times, the US government bailed out the banks and left them in control. How can we end this cycle of trillion-dollar bailouts and make finance work for the rest of us? Busting the Bankers' Club confronts the powerful people and institutions that benefit from our broken financial system—and the struggle to create an alternative.Drawing from decades of research on the history, economics, and politics of banking, economist Gerald Epstein shows that any meaningful reform will require breaking up this club of politicians, economists, lawyers, and CEOs who sustain the status quo. Thankfully, there are thousands of activists, experts, and public officials who are working to do just that. Clear-eyed and hopeful, Busting the Bankers' Club: Finance for the Rest of Us (U California Press, 2024) centers the individuals and groups fighting for a financial system that will better serve the needs of the marginalized and support important transitions to a greener, fairer economy.Busting the Bankers’ Club is an eye-opening account of the failures of our financial system, the sources of its staying power, and the path to meaningful economic reform from Professor Gerald Epstein, Founding Codirector of the Political Economy Research Institute at the University of Massachusetts Amherst. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Today, being authentic has become an aspiration and an imperative. The notion of authenticity shapes the consumption habits of individuals in the most diverse contexts such as food and drinks, clothing, music, tourism and the digital sphere, even leading to the resurgence of apparently obsolescent modes of production such as craft. It also significantly transforms urban areas, their local economies and development. Alessandro Gerosa's The Hipster Economy: Taste and Authenticity in Late Modern Capitalism (UCL Press, 2024) analyses this complex set of related phenomena to argue that the quest for authenticity has been a driver of Western societies from the emersion of capitalism and industrial society to today.From this premise, the book advances multiple original contributions. First, it explains why and how authenticity has become a fundamental value orienting consumers' taste in late modern capitalism; second, it proposes a novel conceptualisation of the aesthetic regime of consumption; third, the book constitutes the first detailed analysis of the resurgence of the neo-craft industries, their entrepreneurs, and the economic imaginary of consumption underpinning them, and fourth, it analyses how the hipster economy is impacting the urban space, favouring new logic of urban development with contrasting outcomes.Open-source PDF version found at this link! Jeff Adler is an ex-linguist and occasional contributor to New Books Network! Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Technofeudalism: What Killed Capitalism (Melville House, 2023), Yanis Varoufakis argues that capitalism is dead and a new economic era has begun.Insane sums of money that were supposed to re-float our economies in the wake of the financial crisis and the pandemic have ended up supercharging big tech's hold over every aspect of the economy. Capitalism's twin pillars - markets and profit - have been replaced with big tech's platforms and rents. Meanwhile, with every click and scroll, we labour like serfs to increase its power. Welcome to technofeudalism.Drawing on stories from Greek Myth and pop culture, from Homer to ​Mad Men, Varoufakis explains this revolutionary transformation: how it enslaves our minds, how it rewrites the rules of global power and ultimately what it will take overthrow it.Louisa Hann attained a PhD in English and American studies from the University of Manchester in 2021, specialising in the political economy of HIV/AIDS theatres. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Informal workers make up over two billion workers or about 50 percent of the global workforce, and yet scholarly understandings of informal workers’ political and civil society participation remain limited. In Why Informal Workers Organize? Contentious Politics, Enforcement, and the State (Oxford University Press, 2022), Calla Hummel finds that informal workers organize in nearly every country for which data exists, but to varying degrees. Why do informal workers organize in some places more than others? Hummel finds that informal workers organize where state officials encourage them to. Grounded in robust theory that builds on and advances canon literature on collective action problems, Hummel argues that when officials intervene with incentives in the form of cash, licenses, and access to the bureaucracy, they lower the barriers that keep people from organizing on their own. Once informal workers take these incentives and start organizations, officials can bargain over regulation and enforcement with representatives instead of a mass of individuals. These insights are supported by well-triangulated data, including existing and original surveys, over 150 interviews with informal workers in Bolivia and Brazil, and ethnographic evidence collected from multiple cities. The book challenges assumptions about informal workers, offering an original contribution for scholars of informal economies, enforcement, civil society, and state building, as well as public policy practitioners.Dhouha Djerbi is a PhD candidate in political science at the Geneva Graduate Institute. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Visions of a Digital Nation: Market and Monopoly in British Telecommunications (MIT Press, 2024), Jacob Ward explains why the privatization of British Telecom signaled a pivotal moment in the rise of neoliberalism, and how it was shaped by the longer development and digitalization of Britain’s telecommunications infrastructure. When Margaret Thatcher sold British Telecom for £3.6 billion in 1984, it became not only, at the time, the largest stock flotation in history, but also a watershed moment in the rise of neoliberalism and deregulation. In Visions of a Digital Nation, Ward offers an incisive interdisciplinary perspective on how technology prefigured this pivot. Giving due consideration to the politicians, engineers, and managers who paved the way for this historic moment, Ward illustrates how the decision validated the privatization of public utilities and tied digital technology to free market rationales. In this examination of the national and, at times, global history of technology, Ward’s approach is sweeping. Utilizing infrastructure studies, environmental history, and urban and local history, Ward explores Britain’s nationalist and welfarist plans for a digital information utility and shows how these projects contested and adapted to the “market turn” under Margaret Thatcher. Ultimately, Visions of a Digital Nation compellingly argues that politicians did not impose neoliberalism top-down, but that technology, engineers, and managers shaped these politics from the bottom up.Jacob Ward is Assistant Professor in the History Department and Science, Technology and Society Studies Research Program at the Faculty of Arts and Social Sciences at Maastricht University. He is coeditor of Histories of Technology, the Environment and Modern Britain.Filippo De Chirico is a PhD student in History and Politics of Energy at Roma Tre University (Italy).  Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Today’s book is: Look Again: The Power of Noticing What Was Always There (Atria/One Signal Publishers, 2024), by Tali Sharot and Cass R. Sunstein, a book that asks why stimulating jobs and breathtaking works of art lose their sparkle after a while. People stop noticing what is most wonderful in their own lives. They also stop noticing what is terrible, due to something called habituation. Because of habituation, people get used to dirty air, become unconcerned by their own misconduct, and become more liable to believe misinformation. But what if you could dishabituate? Could you find a way to see everything anew? What if you could regain sensitivity, not only to the great things in your life, but also to the terrible things you stopped noticing and so don’t try to change? In Look Again, neuroscience professor Tali Sharot and Harvard law professor Cass R. Sunstein investigate why we stop noticing both the great and not-so-great things around us and how to “dishabituate.” This groundbreaking work, based on decades of research in the psychological and biological sciences, illuminates how we can reignite the sparks of joy, innovate, and recognize where improvements urgently need to be made. The key to this disruption—to seeing, feeling, and noticing again—is change. By temporarily changing your environment, changing the rules, changing the people you interact with—or even just stepping back and imagining change—you regain sensitivity, allowing you to more clearly identify the bad and more deeply appreciate the good.Our guest is: Cass R. Sunstein, who is the nation’s most-cited legal scholar. For the past fifteen years, he has been at the forefront of behavioral economics. From 2009 to 2012, he served as the administrator of the White House Office of Information and Regulatory Affairs. Since that time, he has served in the US government in multiple capacities and worked with the United Nations and the World Health Organization, where he chaired the Technical Advisory Group on Behavioral Insights and Sciences for Health during the COVID-19 pandemic. He is the Robert Walmsley University Professor at Harvard Law School. His book Nudge, coauthored with Richard Thaler, was a national bestseller. In 2018, he was the recipient of the Holberg Prize from the government of Norway, sometimes described as equivalent of the Nobel Prize for law and the humanities. He lives in Boston and Washington, DC, with his wife, children, and labrador retrievers. He is the co-author [along with Tali Sharot, who could not join us for this episode] of Look Again.Our host is: Dr. Christina Gessler, who is the creator of the Academic Life podcast. She holds a PhD in history, which she uses to explore what stories we tell and what happens to those we never tell.Welcome to Academic Life, the podcast for your academic journey—and beyond! Join us again to learn from more experts inside and outside the academy, and around the world. Missed any of the 200+ Academic Life episodes? You’ll find them all archived here. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In the podcast, Katharina Pistor discusses how law creates private wealth, highlighting the role of lawyers in shaping financial outcomes. She explores the impact of legal frameworks on wealth creation and delves into the intricacies of Lehman Brothers' financial structure. The discussion also touches on genetic code patenting controversies and the influence of domestic legal institutions on global capitalism. Additionally, the role of lawyers in coding capital and their agency in shaping economic systems are explored.

How can we build a more equal economy? In Innovation for the Masses: How to Share the Benefits of the High-Tech Economy (U California Press, 2024), Neil Lee, a Professor of Economic Geography at the London School of Economics, explores the question of how societies have fostered and supported innovation. The book challenges conventional assumptions that innovative economies must be unequal. Drawing on 4 detailed, and critical, case studies- Switzerland, Austria, Taiwan and Sweden, the book shows how Europe has good models of innovation; how the state matters; and how innovation and shared prosperity policies are mutually reinforcing. Accessible and clearly written, the book will be essential reading across social sciences and public policy, as well as anyone wanting a blueprint for equitable economic development, Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

“Free enterprise” is an everyday phrase that connotes an American common sense. It appears everywhere from political speeches to pop culture. And it is so central to the idea of the United States that some even labeled Christopher Columbus and the Pilgrims free enterprisers. In his new book, Free Enterprise: An American History (Yale University Press, 2019), Lawrence Glickman analyses that phrase’s historical meaning and shows how it became common sense.Glickman, a historian and the Stephen and Evalyn Milman Professor in American Studies at Cornell University, traces the phrase from its many 19th-century meanings, of which abolitionists wielded a dominant one (consider the word free), to its conservative reformulation in the 1920s and 30s. He shows how “free enterprise” became the rallying cry of the business community from the 1930s to the Powell Memo in the early 70s. This book is a whirlwind tour of a keyword that has had immense rhetorical power in modern American history and that scholars have yet to critically examine. Glickman’s book provides a compelling example of how historians can study the historical construction of common sense and is a welcome contribution to intellectual history, political history, and the history of capitalism.Dexter Fergie is a PhD student of US and global history at Northwestern University. He is currently researching the 20th-century geopolitical history of information and communications networks. He can be reached by email at dexter.fergie@u.northwestern.edu or on Twitter @DexterFergie. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics