New Books in Economics

The idea of a Green New Deal was launched into popular consciousness by US Congressperson Alexandria Ocasio-Cortez in 2018. It has become a watchword in the current era of global climate crisis. But what – and for whom – is the Green New Deal? In this concise and urgent book, Max Ajl provides an overview of the various mainstream Green New Deals. Critically engaging with their proponents, ideological underpinnings and limitations, he goes on to sketch out a radical alternative: a 'People's Green New Deal' committed to decommodification, working-class power, anti-imperialism and agro-ecology. Ajl diagnoses the roots of the current socio-ecological crisis as emerging from a world-system dominated by the logics of capitalism and imperialism. Resolving this crisis, he argues, requires nothing less than an infrastructural and agricultural transformation in the Global North, and the industrial convergence between North and South. As the climate crisis deepens and the literature on the subject grows, A People's Green New Deal (Pluto Press, 2021) contributes a distinctive perspective to the debate.Eyad Houssami makes theatre and has participated in the revitalization of an ancient organic farm in southern Lebanon. He is editor of the Arabic-English book Doomed by Hope: Essays on Arab Theatre (Pluto/Dar Al Adab) and was editor-at-large of Portal 9, a bilingual literary and academic journal about urbanism. His doctoral research project on ecology and agriculture in post-independence Lebanon at the University of Leeds and this work are supported by the UK Arts & Humanities Research Council (grant number AH/R012733/1) through the White Rose College of the Arts & Humanities. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

We live in cities whose borders have always been subject to expansion. What does such transformation of rural spaces mean for cities and vice-versa? Properties of Rent: Community, Capital and Politics in Globalising Delhi (Cambridge UP, 2022) looks at the spatial transformation of villages brought into Delhi's urban fray in the 1950s. As these villages transform physically; their residents, an agrarian-pastoralist community - the Jats - also transform into dabblers in real estate. A study of two villages - Munirka and Shahpur Jat - both in the heart of bustling urban economies of Delhi, reveal that it is 'rent' that could define this suburbanisation. 'Bhaichara', once a form of land ownership in colonial times, transforms into an affective claim of belonging, and managing urban property in the face of a steady onslaught from the 'city'. Properties of Rent is a study of how a vernacular form of capitalism and its various affects shape up in opposition to both state, finance capital and the city in contemporary urban Delhi.Sushmita Pati is Assistant Professor of Political Science at the National Law School of India University, Bangalore. She studied Political Science at Delhi University and Jawaharlal Nehru University. She is interested in studying the intersections of Urban Politics and Political Economy. Her recent book, Properties of Rent: Community, Capital and Politics in Globalising Delhi is now out from Cambridge University Press.Saronik Bosu (@SaronikB on Twitter) is a doctoral candidate in English at New York University. He is writing his dissertation on literary rhetoric and economic thought. He co-hosts the podcast High Theory and is a co-founder of the Postcolonial Anthropocene Research Network. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Labour has taken an about-turn. From Adam Smith’s proposal for specialisation which saw the factory line reorganised so that each worker needed to understand only a small aspect of the production process, many industries now rely on access to specialised skills and resources that are commanded at-hoc in discrete, time- and output-bound chunks.This is the logic of projects. The workforce no longer dedicates itself to the making of a singular commodity, as it was the case with Smith, but bids for discrete pieces of work when those are in demand. In some industries, for example, in the art world, the workforce is also charged with building the demand for their work by initiating the project which would then employ them.The ABC of the Projectariat: Living and Working in a Precarious Art World (Manchester UP, 2021) by Kuba Szreder contributes new thinking on and practical responses to the widespread problem of precarious labour in contemporary art. It is both a critical analysis and a practical handbook, speaking to and about the vast cohort of artistic freelancers worldwide. Kuba Szreder speaks to Pierre d’Alancaisez about the artistic project, and the effects of projectarisation on workers’ solidarity, communal governance, and the precarity of artistic activity.Kuba Szreder is a lecturer in the department of art theory at the Academy of Fine Arts in Warsaw. He combines his research with independent curatorial practice. His previous publications include Joy Forever: Political Economy of Social Creativity (2011) and Art Factory: Division of Labor and Distribution of Resources in the Field of Contemporary Art in Poland (2014). In 2018, together with Kathrin Böhm, he initiated Centre for Plausible Economies, a cluster devoted to reimagining economies of contemporary art and using artistic imagination to redraw the economy at large. A report on the Free/Slow University of Warsaw Pierre’s interview with François Matarasso on community art Pierre’s essay on the social artist’s absorption into the professional-managerial class Kuba’s work with Kathrin Böhm (Company Drinks/myvillages) on the Centre for Plausible Economies, which contributed to Documenta 15 A New Books Network Interview with Dave O’Brien et al on Culture is Bad for You Pierre’s review of Sam Friedman’s and Daniel Laurison’s The Class Ceiling Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Award-winning geographer-designer team James Cheshire and Oliver Uberti transform enormous datasets into rich maps and cutting-edge visualizations. In this triumph of visual storytelling, they uncover truths about our past, reveal who we are today, and highlight what we face in the years ahead. In Atlas of the Invisible: Maps and Graphics That Will Change How You See the World (W. W. Norton, 2021), Cheshire and Uberti explore happiness levels around the globe, trace the undersea cables and cell towers that connect us, examine hidden scars of geopolitics, and illustrate how a warming planet affects everything from hurricanes to the hajj. Years in the making, Atlas of the Invisible invites readers to marvel at the promise and peril of data, and to revel in the secrets and contours of a newly visible world.Winner of the 2021 British Cartographic Society Awards including the Stanfords Award for Printed Mapping and the John C. Bartholomew Award for Thematic Mapping.Galina Limorenko is a doctoral candidate in Neuroscience with a focus on biochemistry and molecular biology of neurodegenerative diseases at EPFL in Switzerland. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Formal mathematical models have provided tremendous insights into politics in recent decades. Formal Models of Domestic Politics (Cambridge UP, 2021) is the leading graduate textbook covering the crucial models that underpin current theoretical and empirical research on politics by both economists and political scientists. This textbook was recently updated to reflect the wealth of new theory-building around the functioning of authoritarian regimes, as well as to include recent developments in the theory of electoral competition, delegation, legislative bargaining, and collective action.Author Scott Gehlbach is a professor at the University of Chicago, where he is the director of their new PhD program in Political Economy. He is a widely published political economist, with influential articles published in both economics and political science journal as well as two other books. Scott also has a regional specialty in the politics of Russia, Ukraine, and other postcommunist countries.In our interview, we discuss what formal models are, how they work, and illustrates their usefulness with several examples. We also speak briefly at the end about current Russian politics and the ideas he outlined in his February Washington Post Monkey Cage blog piece on the implications of the invasion of Ukraine.Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco, where he leads a new Master's program in Applied Economics focused on the digital economy. His own research focus is the political economy of governance in China. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The economist and historian Deirdre Nansen McCloskey has been best known recently for her Bourgeois Era trilogy, a vigorous defense, unrivaled in scope, of commercially tested betterment. Its massive volumes, The Bourgeois Virtues, Bourgeois Dignity, and Bourgeois Equality, solve Adam Smith's puzzle of the nature and causes of the wealth of nations, and of the moral sentiments of modernity. The world got rich, she argues, not chiefly by material causes but by an idea and a sentiment, a new admiration for the middle class and its egalitarian liberalism.For readers looking for a distillation of McCloskey's magisterial work, Leave Me Alone and I'll Make You Rich: How the Bourgeois Deal Enriched the World (U Chicago Press, 2020) is what you've been waiting for. In this lively volume, McCloskey and the economist and journalist Carden bring together the trilogy's key ideas and its most provocative arguments. The rise of the west, and now the rest, is the story of the rise of ordinary people to a dignity and liberty inspiring them to have a go. The outcome was an explosion of innovation after 1800, and a rise of real income by an astounding 3,000 percent. The Great Enrichment, well beyond the conventional Industrial Revolution, did not, McCloskey and Carden show, come from the usual suspects, capital accumulation or class struggle. It came from the idea of economic liberty in Holland and the Anglosphere, then Sweden and Japan, then Italy and Israel and China and India, an idea that bids fair in the next few generations to raise up the wretched of the earth. The original shift to liberalism arose from 1517 to 1789 from theological and political revolutions in northwest Europe, upending ancient hierarchies. McCloskey and Carden contend further that liberalism and "innovism" made us better humans as well as richer ones. Not matter but ideas. Not corruption but improvement.Leave Me Alone and I'll Make You Rich draws in entertaining fashion on history, economics, literature, philosophy, and popular culture, from growth theory to the Simpsons. It is the perfect introduction for a broad audience to McCloskey's influential explanation of how we got rich. At a time when confidence in the economic system is under challenge, the book mounts an optimistic and persuasive defense of liberal innovism, and of the modern world it has wrought.Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

An argument that social, political, and economic systems maintain power by discarding certain people, places, and things. Discard studies is an emerging field that looks at waste and wasting broadly construed. Rather than focusing on waste and trash as the primary objects of study, discard studies looks at wider systems of waste and wasting to explore how some materials, practices, regions, and people are valued or devalued, becoming dominant or disposable. In Discard Studies: Wasting, Systems, and Power (MIT Press, 2022), Max Liboiron and Josh Lepawsky argue that social, political, and economic systems maintain power by discarding certain people, places, and things. They show how the theories and methods of discard studies can be applied in a variety of cases, many of which do not involve waste, trash, or pollution. Liboiron and Lepawsky consider the partiality of knowledge and offer a theory of scale, exploring the myth that most waste is municipal solid waste produced by consumers; discuss peripheries, centers, and power, using content moderation as an example of how dominant systems find ways to discard; and use theories of difference to show that universalism, stereotypes, and inclusion all have politics of discard and even purification—as exemplified in “inclusive” efforts to broaden the Black Lives Matter movement. Finally, they develop a theory of change by considering “wasting well,” outlining techniques, methods, and propositions for a justice-oriented discard studies that keeps power in view. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Michael Pettis is Professor of Finance at Peking University’s Guanghua School of Management. He started his career in banking in 1987 just in time for the tidal wave of emerging market defaults and the birth of the Brady Bond restructurings. He has been a trader, investment banker, and advisor to countries on capital markets strategies all while teaching at Columbia University.Professor Pettis has authored four books (the most recently Trade Wars Are Class Wars (Yale University Press, 2021) with Matthew C. Klein), is a Senior Fellow at the Carnegie Endowment for International Peace, and is a frequent guest on BBC, NPR, Bloomberg Radio, and podcasts. He has written for the Financial Times, Wall Street Journal, and New York Times. A loose confederation of his former students is active in a variety of significant financial positions around the world and refer to themselves as"The Pettis Group."Robert Kowit began a career in investing in 1972, working in International Fixed Income and Foreign Exchange as a Senior Vice President at White Weld, Kidder Peabody, and as a Director of Midland Montagu. Moving to the buy-side in 1990, he was Senior Vice President and Head of International Fixed Income at John Hancock and then at Federated Investors until his retirement. He currently participates on committees of the International Chamber of Commerce and the International Trade and Forfaiting Association on ways to attract more financial investors to trade finance assets.Robert is a contributor to the IMF World Bank Handbook, “Developing Government Bond Markets" and key speaker at the IMF World Bank Annual General Meeting. He is also lead author of the peer-reviewed paper, “Trade Finance as a Financial Asset: Risks and Risk Management For Non-Bank Investors” and most recently a contributor to Trade Wars Are Class Wars. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Philanthropists are praise for their generosity but does their desire to keep control of what happens to their donations mean they exercise power in ways that clash with democratic principles? Approval of philanthropists’ good intentions can mask some important moral considerations about what philanthropy means for the donor and the recipient. Generosity, influence, reputation and paternalism: democracy and philanthropy with Owen Bennett Jones and Emma Saunders Hastings. Hasting is author of Private Virtues, Public Vices: Philanthropy and Democratic Equality (U Chicago Press, 2022).Owen Bennett-Jones is a freelance journalist and writer. A former BBC correspondent and presenter he has been a resident foreign correspondent in Bucharest, Geneva, Islamabad, Hanoi and Beirut. He is recently wrote a history of the Bhutto dynasty which was published by Yale University Press. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Today I talked to Seth Stephens-Davidowitz about his new book Don't Trust Your Gut: Using Data to Get What You Really Want in LIfe (Dey Street Books, 2022)Looking for advice on how to get a date, how to have a successful marriage, or just how to have a happier life? Don’t trust your gut, don’t trust conventional wisdom, and put down that self-help book full of plausible arguments and compelling anecdotes that just happens to contradict the advice you got from the self-help book you. Instead, let Seth Stephens-Davidowitz guide you, using data!Seth Stephens-Davidowitz is a data scientist, author, keynote speaker, and recovering economist. His first book Everybody Lies, was a New York Times bestseller that showed how social scientists have used new data about our online behavior to gain new insights about who we really are and what we really think. His latest book, Don’t Trust Your Gut, is about how we can use data not just to understand other people but also how to get what we want in life, whether it’s health, wealth, attractiveness, or inner peace.Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco, where he leads a new Master's program in Applied Economics focused on the digital economy. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics