New Books in Economics

Why is dental insurance so crummy? Why is pet insurance so expensive? Why does your auto insurer ask for your credit score? The answer to these questions lies in understanding how insurance works. Unlike the market for other goods and services—for instance, a grocer who doesn’t care who buys the store’s broccoli or carrots—insurance providers are more careful in choosing their customers, because some are more expensive than others.In Risky Business: Why Insurance Markets Fail and What to Do About It (Yale UP, 2023), Liran Einav, Amy Finkelstein, and Ray Fisman explore such issues as why insurers want to know so much about us and whether we should let them obtain this information; why insurance entrepreneurs often fail (and some tricks that may help them succeed); and whether we’d be better off with government-mandated health insurance instead of letting businesses, customers, and markets decide who gets coverage and at what price. With insurance at the center of divisive debates about privacy, equity, and the appropriate role of government, this book offers clear explanations for some of the critical business and policy issues you’ve often wondered about, as well as for others you haven’t yet considered.John Emrich has worked for decades years in corporate finance, business valuation and fund management. He has a podcast about the investment space called Kick the Dogma. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Endangered Maize: Industrial Agriculture and the Crisis of Extinction (U California Press, 2022), historian Helen Anne Curry investigates more than a hundred years of agriculture and conservation practices to understand the tasks that farmers and researchers have considered essential to maintaining crop diversity. Through the contours of efforts to preserve diversity in one of the world's most important crops, Curry reveals how those who sought to protect native, traditional, and heritage crops forged their methods around the expectation that social, political, and economic transformations would eliminate diverse communities and cultures. In this fascinating study of how cultural narratives shape science, Curry argues for new understandings of endangerment and alternative strategies to protect and preserve crop diversity.Isobel Akerman is a History PhD student at the University of Cambridge studying biodiversity and botanic gardens. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Over the past 50 years, scholars across the social sciences have employed critical juncture analysis to understand how social orders are created, become entrenched, and change. In this book, leading scholars from several disciplines offer the first coordinated effort to define this field of research, assess its theoretical and methodological foundations, and use a critical assessment of current practices as a basis for guiding its future. Contributors include stars in this field who have written some of the classic works on critical junctures, as well as the rising stars of the next generation who will continue to shape historical comparative analysis for years to come. David Collier and Gerardo L. Munck's Critical Junctures and Historical Legacies. Insights and Methods for Comparative Social Science (Rowman & Littlefield, 2022) will be an indispensable resource for social science research methods scholars and students.Javier Mejia is an economist at Stanford University who specializes in the intersection of social networks and economic history. His research interests also include entrepreneurship and political economy, with a particular focus on Latin America and the Middle East. He holds a Ph.D. in Economics from Los Andes University. Mejia has previously been a Postdoctoral Associate and Lecturer at New York University-Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is also a frequent contributor to various news outlets, currently serving as an op-ed columnist for Forbes Magazine. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Sociologist Juan Pablo Pardo-Guerra, a professor at University of California San Diego, talks about his book Automating Finance: Infrastructures, Engineers, and the Making of Electronic Markets with Peoples & Things host Lee Vinsel. The book traces the long, largely anonymous, and in some senses boring history of how experts applied computers to financial systems since the 1970s, creating a digital infrastructure of the trading world. The conversation also touches on Pardo-Guerra’s more recent work on how systems of quantitative metrics have been applied to the management of universities and what might be done about it. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Science and Technologies scholar Lilly Irani talks her book, Chasing Innovation: Making Entrepreneurial Citizens in Modern India, with Peoples & Things host Lee Vinsel. Irani’s work examines the ideological role that ideas of “innovation” and “entrepreneurship” have played in India and the people who are left behind by such visions. Irani and Vinsel also discuss her other work and activism focusing on the politics of the Bay Area in California, including organization against the digital technology industry. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The pandemic brought to the fore a group of workers deemed “essential” – frontline healthcare workers, restaurant employees, slaughterhouse workers, and the like – who often faced a difficult choice between risking their health to work or forgoing income that they couldn’t afford to do without. Often, they had to work even though they couldn’t afford health insurance – or health care themselves if they got sick, another sign of the inadequacy of our health care arrangements. How did the pandemic transform workers and work?This week on International Horizons, Professor John Torpey talks to Jamie McCallum from sociology at Middlebury College about the shift in conditions for essential workers across the globe during the pandemic and how that affected the whole world's labor movement. McCallum discusses the variations of these effects in different regions and how exceptionally the US behaved during the pandemic in terms of labor protection. Finally, the author discusses whether labor unrest can be pushed for larger systemic change. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Patrick Chung, assistant professor of history at the University of Maryland, talks about his research on the rise of shipping and manufacturing in South Korea with Peoples & Things host Lee Vinsel. Along the way, Chung provides fascinating insights into the role that both the US Department of Defense and local South Korean actors played in globalization. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Today I had the pleasure of talking to Professor Xiang Biao on his new book, Self as Method: Thinking Through China and the World, which was originally written and published in Chinese. The English translation has just come out with Palgrave Macmillan.Self as Method provides a manifesto of intellectual activism that counsels China’s young people to think by themselves and for themselves. Consisting of three conversations between Xiang Biao, a social anthropologist, and Wu Qi, a rising journalist, the book probes how China has reached its current stage and how young people can make changes.The Chinese version, 把自己作为方法, was named the “most impactful book of 2021” by Dou4ban4, China’s premier website for rating books, films, and music. The English version, which is entirely Open Access and downloadable for free, was translated by David Ownby. The book reached 157,000 downloads in just over a couple of months.Dr. Suvi Rautio is an anthropologist of China. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Daniel Armanios, associate professor of Engineering and Public Policy at Carnegie Mellon University, talks about his work on infrastructure and inequality with Peoples & Things host Lee Vinsel. Armanios’ recent work has focused on coming up with quantitative measures of how infrastructure relates to inequalities around race, gender, and class, both to address historical injustices and to inform future infrastructure construction. Armanios also talks about how he brings these topics into his teaching and his larger project around engineering and social justice. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Jeffrey Carpenter and Andrea Robbett's book Game Theory and Behavior (MIT Press, 2022) is an introduction to game theory that offers not only theoretical tools but also the intuition and behavioral insights to apply these tools to real-world situations. This introductory text on game theory provides students with both the theoretical tools to analyze situations through the logic of game theory and the intuition and behavioral insights to apply these tools to real-world situations. It is unique among game theory texts in offering a clear, formal introduction to standard game theory while incorporating evidence from experimental data and introducing recent behavioral models. Students will not only learn about incentives, how to represent situations as games, and what agents “should” do in these situations, but they will also be presented with evidence that either confirms the theoretical assumptions or suggests a way in which the theory might be updated.Jeffrey Carpenter is the James Jermain Professor of Political Economy at Middlebury College. His research interests include Experimental and Behavioral Economics with applications to Labor, Public and Development Economics. While pursuing these interests he has conducted lab and field experiments in North America, South America, Europe and Asia.Andrea Robbett is an Associate Professor of Economics at Middlebury College. Her research uses laboratory experiments to test canonical theoretical models, new ideas, and conventional wisdom. Her work has addressed topics in public economics, labor, voting, information avoidance, financial decision-making and "attribute overload," trust and cooperation, and auctions.Peter Lorentzen is economics professor at the University of San Francisco. He heads USF's Applied Economics Master's program, which focuses on the digital economy. His research is mainly on China's political economy. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics