New Books in Economics

Today I talked to the remarkable Fiona Hill about her new memoir There Is Nothing for You Here: Opportunity in an Age of Decline (Mariner Books, 2021). We talked about the decline of older coal and steel industries (and economic dislocation generally), how this decline relates to the rise of populism in the Russia and the West, and her decision to join the Trump administration as a national security advisor. She is insightful and interesting about all of it. Enjoy. Marshall Poe is the founder and editor of the New Books Network. He can be reached at marshallpoe@newbooksnetwork.com. 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 Jamie Mustard about his new book The Iconist: The Art and Science of Standing Out (BenBella Books, 2019).Ever feel like you’re “screaming” to be heard but in a world saturated by social media messages, et cetera, your “messages” are falling on deaf ears? If so, Jamie Mustard has a solution to propose. In short, you need to follow the Primal Laws of Attention. In essence, that means be bigger, brighter, and bolder than ever before in history to break through the clutter. In greater detail, those laws entail steps like the following: use repetition, deliver an emotional jolt by addressing the audience’s primary emotional concern, and practice transparency that establishes your authenticity. Most of all, engage in radical simplicity. If what you are saying can’t be readily understand, forget it. Then to back up that radical simplicity, the “shaft” behind that arrowhead of simplicity is sufficient information to make the messaging worthwhile. All of that—and more—delivered by Mustard in an impassioned episode.Jamie Mustard is a London School of Economic graduate; he’s also an artist, filmmaker, consultant, and a leading authority on branding, art, design, and media perception.Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Politics. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

By March 2020, the spread of COVID-19 had reached pandemic proportions, forcing widespread shutdowns across industries, including Hollywood. Studios, networks, production companies, and the thousands of workers who make film and television possible were forced to adjust their time-honored business and labor practices. In Hollywood Shutdown: Production, Distribution, and Exhibition in the Time of COVID (U Texas Press, 2021), Kate Fortmueller asks what happened when the coronavirus closed Hollywood. Hollywood Shutdown examines how the COVID-19 pandemic affected film and television production, influenced trends in distribution, reshaped theatrical exhibition, and altered labor practices. From January movie theater closures in China to the bumpy September release of Mulan on the Disney+ streaming platform, Fortmueller probes various choices made by studios, networks, unions and guilds, distributors, and exhibitors during the evolving crisis. In seeking to explain what happened in the first nine months of 2020, this book also considers how the pandemic will transform Hollywood practices in the twenty-first century.Joel Tscherne is an Adjunct History Professor at Southern New Hampshire University. His Twitter handle is @JoelTscherne. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Everybody eats. We may even consider ourselves experts on the topic, or at least Instagram experts. But are we aware that the shrimp in our freezer may be farmed and frozen in Vietnam, the grapes in our fruit bowl shipped from Chile, and the coffee in our coffee maker grown in Nicaragua, roasted in Germany, and distributed in Canada? Whether we know it or not, every time we shop for food, cook, and eat, we connect ourselves to complex supply networks, institutions, and organizations that enable our food choices. Even locavores may not know the whole story of the produce they buy at the farmers market. In Food, a contribution to the MIT Press Essential Knowledge series, food writer and scholar Fabio Parasecoli offers a consumer's guide to the food system, from local to global.Parasecoli describes a system made up of open-ended, shifting, and unstable networks rather than well-defined chains; considers healthy food and the contradictory advice about it consumers receive; discusses food waste and the implications for sustainability; explores food technologies (and “culinary luddism”); and examines hunger and food insecurity in both developing and developed countries. Parasecoli reminds us that we are not only consumers but also citizens, and as citizens we have more power to improve the food system than we do by our individual food choices.Fabio Parasecoli is a Professor in the Department of Nutrition and Food Studies, The New York University Steinhardt. His research explores the cultural politics of food, particularly in media, design, and heritage. His books include Al Dente: A History of Food in Italy, Feasting Our Eyes: Food, Film, and Cultural Citizenship in the US, Knowing Where It Comes From: Labeling Traditional Foods to Compete in a Global Market, and Global Brooklyn: Designing Food Experiences in World Cities. Website: https://fabioparasecoli.com/ Twitter: @FParasecoliAmir Sayadabdi is a lecturer in Anthropology at Victoria University of Wellington. He is mainly interested in anthropology of food and its intersection with gender studies, migration studies, and studies of race, ethnicity, and nationalism. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The Social World, Reexamined is based on an in-depth filmed conversation between Howard Burton and Brian Epstein, Associate Professor of Philosophy at Tufts University. Brian Epstein’s career as a management consultant piqued his interest and his later research into the reasons why our current models of economics, politics and other areas of social science so often go terribly wrong. The conversation explores how we can dramatically improve our current economic and political models by reexamining our assumptions about the nature of the social world.Howard Burton is the founder of the Ideas Roadshow, Ideas on Film and host of the Ideas Roadshow Podcast. He can be reached at howard@ideasroadshow.com. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

As people reach for social justice and better lives, they create public goods--free education, public health, open parks, clean water, and many others--that must be kept out of the market. When private interests take over, they strip public goods of their power to lift people up, creating instead a tool to diminish democracy, further inequality, and separate us from each other. The Privatization of Everything: How the Plunder of Public Goods Transformed America and How We Can Fight Back (New Press, 2021), by the founder of In the Public Interest, an organization dedicated to shared prosperity and the common good, chronicles the efforts to turn our public goods into private profit centers. The Privatization of Everything connects the dots across a broad spectrum of issues and raises larger questions about who controls the public things we all rely on, exposing the hidden crisis of privatization that has been slowly unfolding over the last fifty years and giving us a road map for taking our country back. Stephen Pimpare is director of the Public Service & Nonprofit Leadership program and Faculty Fellow at the Carsey School of Public Policy at the University of New Hampshire. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Economic Thought in Modern China: Market and Consumption, c.1500–1937 (Cambridge University Press, 2020), Margherita Zanasi argues that basic notions of a free market economy emerged in China a century and half earlier than in Europe. In response to the commercial revolutions of the late 1500s, Chinese intellectuals and officials called for the end of state intervention in the market, recognizing its power to self-regulate. They also noted the elasticity of domestic demand and production, arguing in favour of ending long-standing rules against luxury consumption, an idea that emerged in Europe in the late seventeenth and early nineteenth centuries. Zanasi challenges Eurocentric theories of economic modernization as well as the assumption that European Enlightenment thought was unique in its ability to produce innovative economic ideas. She instead establishes a direct connection between observations of local economic conditions and the formulation of new theories, revealing the unexpected flexibility of the Confucian tradition and its accommodation of seemingly unorthodox ideas.Margherita Zanasi is Professor of Chinese History at Louisiana State University. She has published widely on different aspects of modern China's history, including her first book Saving the Nation: Economic Modernity in Republican China (University of Chicago Press, 2005). She also serves as the editor of the journal Twentieth Century China. Ghassan Moazzin is an Assistant Professor at the Hong Kong Institute for the Humanities and Social Sciences and the Department of History at the University of Hong Kong. He works on the economic and business history of 19th and 20th century China, with a particular focus on the history of foreign banking, international finance and electricity in modern China. His first book, Foreign Banks and Global Finance in Modern China: Banking on the Chinese Frontier, 1870–1919, is forthcoming with Cambridge University Press. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

With COP26 and high fossil fuel prices, energy is back in the headlines. And Russia, as one of the world’s largest producers of hydrocarbons, is part of the conversation--most recently, in Putin’s refusal to expand oil production to ease global prices.The world is coming up on three major transitions—peak use of fossil fuels, renewables competing with non-renewables, and a warming climate likely to surpass the 1.5 degree threshold set by the IPCC.What do those trends mean for Russia: a great power, a major oil and gas producer, an Arctic country covered in permafrost, and an economy with strong, but increasingly outdated, levels of technological development.Klimat: Russia in the Age of Climate Change (Harvard University Press, 2021), by Professor Thane Gustafson, examines how Russia might react—or be forced to react—to a changing environment and energy market.In this interview, the three of us will talk about how Russia will have to change as the world warms. As the world shifts to renewables, will Russia be able to keep up? As Arctic ice melts, will Russia see shipping opportunities? And will climate change get greater salience among the Russian public?Thane Gustafson is Professor of Government at Georgetown University. A widely recognized authority on Russian political economy and formerly a professor at Harvard University, he is the author of many books, notably The Bridge: Natural Gas in a Redivided Europe (Harvard University Press: 2020) and Wheel of Fortune: The Battle for Oil and Power in Russia (Harvard University Press: 2017), as well as Russia 2010: And What It Means for the World (Vintage: 1995), coauthored with Daniel Yergin.We’re also joined in this interview by Yvonne Lau. Yvonne is the Asia Markets Reporter for Fortune Magazine, with a longtime interest in Russia, especially its post-Soviet economic development and its growing ties with China.You can find more reviews, excerpts, interviews, and essays at The Asian Review of Books, including its review of Klimat. Follow on Facebook or on Twitter at @BookReviewsAsia.Nicholas Gordon is an associate editor for a global magazine, and a reviewer for the Asian Review of Books. He can be found on Twitter at @nickrigordon. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In this installment of our Recall this Buck series (check out our earlier conversations with Thomas Piketty, Peter Brown and Christine Desan), John and Elizabeth talk with Daniel Souleles, anthropologist at the Copenhagen Business School and author of Songs of Profit, Songs of Loss: Private Equity, Wealth, and Inequality (Lincoln : University of Nebraska Press 2019). Dan's work explores the world of private equity "guys" (who are indeed mostly guys) and the ways they are "suspended in webs of significance [they themselves have] spun" as Clifford Geertz puts it.Further, he explores the ways we are all suspended in these webs through the immense buying and managing power of private equity firms. Private equity investors buy out publicly traded companies, often through enormous debt (which is why these deals used to be called "leveraged buyouts" or LBOs), manage the companies and then sell them. They argue they are creating value by cutting fat in management; typically workers bear the brunt of the debt while executives--and the private equity firm and lawyers and others servicing the deal--receive hefty payments.Dan pulls off a tough feat in his book, helping us see the concerns and motivations of people he's working with as understandable and the people themselves as reasonable and even likeable, while also maintaining his own view of private equity as, generally speaking, a noxious force in society.We end with a discussion of the Occupy movement and how it helped to change public conversations about inequality and the power of finance (another angle on the themes we tackled in our earlier "Brahmin Left" conversations).Mentioned in this episode: Bryan Burrough and John Helyar, Barbarians at the Gates: The Fall of NJR Nabisco Karen Ho Liquidated; ethnography of Wall Street, and of "smartness" Edwin Lefèvre, Reminiscences of a Stock Operator, (John misremembered the title as Confessions of a Stockjobber) Bret Easton Ellis, American Psycho (1991) The transcript for this episode is here.  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 David Avrin about his new book Why Customers Leave (And How to Win Them Back) (Career Press, 2019).There are three central themes to this book: immediacy (customers want instant gratification), individuality (offer flexible, customized assistance) and humanity (show interest and concern for those you are assisting). Of them, as David Avrin notes in this pleasing, semi-rant of an interview, immediacy should be the easiest for companies to act on. Unfortunately, automation is paradoxically making immediacy often harder to achieve. Other ironies worth noting from Avrin’s perspective include: companies trying to head off negative off-line reviews with surveys that don’t bring about change; and front-line employees who can figure out quicker than their managers what could and should be improved on. If upgrades don’t happen, what’s the solution? Run an exercise where employees are encouraged to formulate plans on how a competitor could undercut the company they currently work for by making the changes they detect would be beneficial. That move—or threat--would get management’s attention if nothing else will!David Avrin is a highly popular speaker and consultant on the topics of the customer experience as well as on marketing. He’s a former CEO group leader and speaker for Vistage International. This is his third book, following It’s Not Who You Know, It’s Who Knows You and Visibility Marketing.Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Politics. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics