New Books in Business, Management, and Marketing

We speak with Richard Detweiler about his new book The Evidence Liberal Arts Needs: Lives of Consequence, Inquiry and Accomplishment (MIT Press, 2021). This multi-year project, which entailed interviews with a national sample of over 1,000 college graduates aged 25-64, provides convincing evidence of the benefits the liberal arts in enabling individuals to lead more fulfilling lives and successful careers. He uses an innovative definition of the liberal arts which focuses on the distinctive: 1) purpose, 2) context, and 3) content of a liberal arts education, measuring the frequency and intensity of these elements across different higher education institutions. He also shares insights from his tenure as President of Hartwick College and the head of the Great Lakes College Association.David Finegold is the president of Chatham University. Learn more about your ad choices. Visit megaphone.fm/adchoices

Being a historical consultant is like being a detective. In Ep. 6 of "Practical History" I talk to Jackie Gonzalez about how her work as a historical consultant helps solve present-day problems for governments, businesses, and attorneys through deep, project-driven archival research. Presently, Jackie works independently. At the time of this conversation, she was with Historical Research Associates.Jackie guides us through some of her projects, we discuss the ethical dilemmas related to choosing clients, and what it's like working with clients from different industries. Jackie also shares how and why she designed a successful strategy for her transition from academia to industry while still working on her PhD. Wondering what universities can do better to help their history PhD students broaden their career options? We also touch on that.Patryk Babiracki is a historian, researcher and writer; professor & MA student advisor at the University of Texas at Arlington. PhD from Johns Hopkins. Promoter of #AppliedHistory: using historical concepts, frameworks, and methodologies to solve real-world organizational problems. Learn more about your ad choices. Visit megaphone.fm/adchoices

Monte Carlo and Las Vegas have become synonymous with casino gambling. Both destinations featured it as part of a broad variety of leisure and consumption opportunities that normalized games of chance and created emotional atmospheres that supported the hedonistic aspects of gambling. Urban spaces and architecture were carefully designed to enable a rapid growth of the casino industry and produce experiences on previous unimaginable scale. Feeling Lucky: The Production of Gambling Experiences in Monte Carlo and Las Vegas (Palgrave Macmillan, 2023) is a "making of" story about cities which acquired a strange and captivating allure of mystery around them. It is more than a mere descriptive account, however. Combining urban history, the history of consumption, and sociological approaches it presents a compelling comparative history of Monte Carlo and the Las Vegas Strip between the 1860s and 1970s.Paul Franke takes the reader on a journey from arriving at the cities, through the carefully planned urban environments and into the famous casinos. The analysis follows the paths contemporary gamblers would have taken, right to the gambling tables and to the shifting gambling practices across a century. Franke shows that casino entrepreneurs succeeded in producing and selling gambling experiences by controlling spaces, adapt leisure practices and appeal to specific markets. Gamblers on the other hand regarded Monte Carlo and Las Vegas as places to engage in games of chance that would allow them to preserve their political, cultural, and moral identities.Shu Wan is currently matriculated as a doctoral student in history at the University at Buffalo. As a digital and disability historian, he serves in the editorial team of Digital Humanities Quarterly and Nursing Clio. On Twitter: @slissw. Learn more about your ad choices. Visit megaphone.fm/adchoices

IBM was the world's leading provider of information technologies for much of the twentieth century. What made it so successful for such a long time, and what lessons can this iconic corporation teach present-day enterprises?James W. Cortada--a business historian who worked at IBM for many years--pinpoints the crucial role of IBM's corporate culture. He provides an inside look at how this culture emerged and evolved over the course of nearly a century, bringing together the perspectives of employees, executives, and customers around the world. Through a series of case studies, Inside IBM: Lessons of a Corporate Culture in Action (Columbia Business School, 2023) explores the practices that built and reinforced organizational culture, including training of managers, employee benefits, company rituals, and the role of humor. It also considers the importance of material culture, such as coffee mugs and lapel pins.Cortada argues that IBM's corporate culture aligned with its business imperatives for most of its history, allowing it to operate with a variety of stakeholders in mind and not simply prioritize stockholders. He identifies key lessons that managers can learn from IBM's experience and apply in their own organizations today. This engaging and deeply researched book holds many insights for business historians, executives and managers concerned with stakeholder relations, professionals interested in corporate culture, and IBMers.James W. Cortada is a senior research fellow at the Charles Babbage Institute, University of Minnesota-Twin Cities. He spent nearly forty years at IBM in various sales, consulting, management, and executive positions.Other NBN interviews with the same author include "The Birth of Modern Facts" and "IBM: The Rise, Fall and Reinvention of a Global Icon". Learn more about your ad choices. Visit megaphone.fm/adchoices

Trying to follow the key macroeconomic debates that are swirling around DC, CNBC, the WSJ and the NYT? If you are but don't want to go back to graduate school or re-open your college macroeconomics textbook, John Quiggin has a solution. His Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly (Princeton University Press, 2019) achieves several goals. First, it frames the current debates, providing a concise, well-written history of macroeconomics and the key twists and turns in economic policy that have brought us to our current state of (general) disagreement on economic policy. Second, he structures his view of macroeconomics as a rebuttal to a 1946 book by Henry Hazlitt in 1946 called Economics in One Lesson. Seventy years later, Quiggin counters Hazlitt's view that markets are "correct," in that their prices accurately reflect opportunity costs for buyers and sellers. Quiggin's second lesson highlights the externalities and factors that distort those opportunity costs and lead to suboptimal outcomes such as extended unemployment, excessive income inequality, and the seemingly intractable problem (from an economics perspective) of pollution. In the final portion of his book, Quiggin argues what policies he thinks would make markets work better by generating a more accurate understanding of opportunity costs. To some, his prescriptions will look like the program of the Left. The great irony is that his goal is to make markets function better, not rid us of them. Whether you agree with his prescriptions are not, this is a very interesting book and a great way for non-economists to get up to speed on current debates and policy issues without having to do a single test for statistical significance or worry about heteroscedasticity.Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter @Back2BizBook or at http://www.strategicdividendinvestor.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Richard Vague really really cares about private-sector debt. And he thinks you should too. In A Brief History of Doom: Two Hundred Years of Financial Crises (University of Pennsylvania Press, 2019), Vague sees the rise and fall of private sector debt as the key factor explaining the cycle of economic crises experienced by developed and major developing economies over the past two centuries. The early stages of a lending cycle look and feel good. Everyone is happy, the lenders think they are smart, the borrowers feel they have everything under control. Then the lenders and borrowers take it to another level, and then another, and then it collapses, time and time again. Where are now? The good news is that debt/GDP levels aren't too bad, but in certain sectors of the economy and certain countries, they are flashing red, brightly. Read the book to find which sectors and countries. Vague makes his data available to researchers here. Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter@Back2BizBook or at http://www.strategicdividendinvestor.com Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of the New Books in Economic and Business History is an interview with New York writer Benjamin Lorr. Benjamin Lorr is the author of Hell-Bent: Obsession, Pain, and the Search for Something Like Transcendence in Competitive Yoga, a book that explores the Bikram Yoga community and movement. His second book, The Secret Life of Groceries: The Dark Miracle of the American Supermarket is "an extraordinary investigation into the human lives at the heart of the American grocery store. The miracle of the supermarket has never been more apparent. Like the doctors and nurses who care for the sick, suddenly the men and women who stock our shelves and operate our warehouses are understood as ‘essential’ workers, providing a quality of life we all too easily take for granted. But the sad truth is that the grocery industry has been failing these workers for decades.In this page-turning expose, author Benjamin Lorr pulls back the curtain on the highly secretive grocery industry. Combining deep sourcing, immersive reporting, and sharp, often laugh-out-loud prose, Lorr leads a wild investigation, asking what does it take to run a supermarket? How does our food get on the shelves? And who suffers for our increasing demands for convenience and efficiency? In this journey: We learn the secrets of Trader Joe's success from Trader Joe himself Drive with truckers caught in a job they call "sharecropping on wheels" Break into industrial farms with activists to learn what it takes for a product to earn certification labels like "fair trade" and "free range" Follow entrepreneurs as they fight for shelf space, learning essential tips, tricks, and traps for any new food business Journey with migrants to examine shocking forced labor practices through their eyes The product of five years of research and hundreds of interviews across every level of the business, The Secret Life of Groceries is essential reading for those who want to understand our food system--delivering powerful social commentary on the inherently American quest for more and compassionate insight into the lives that provide it.Paula De La Cruz-Fernandez is a consultant, historian, and digital editor. New Books Network en español editor. Edita CEO. Learn more about your ad choices. Visit megaphone.fm/adchoices

Is the University of Chicago-blessed, "greed is good" near-term profits approach to business wearing out its welcome?James O'Toole's The Enlightened Capitalists: Cautionary Tales of Business Pioneers Who Tried to Do Well by Doing Good(HarperBusiness, 2019) is a welcome addition to the current debate about what is the right balance between the near-term profit motive and long-term social goals in running a business.O'Toole, an emeritus professor of business ethics at USC, argues that entrepreneurs have and can be financially successful and still treat their employees, partners, and customers with respect. He provides two dozen case studies of founders and leaders, ranging from Milton Hershey to Robert Wood Johnson to Herb Kelleher, who tried to do more than just make a quick buck. These pioneers believed that if they practiced a form of ethical capitalism, the profits would roll in. And they did.The challenge that O'Toole recognizes from the outset is that the culture these founders created rarely survived their own tenures at the top, and that the unrelenting pressure of the market ultimately wears down even the most well-intentioned business leader. In the end, he concludes that large publicly traded corporations face the greatest pressures, while smaller, private or trust-held businesses have an easier time of creating and sustaining a positive culture.The Enlightened Capitalists is a must read for every aspiring business leader and investor, even those who are convinced that they are on the "right" side of the debate. The judgments can shift rapidly. Even a spectacularly successful New Economy company that had for years as its motto "Don't be evil" (since replaced with "Do the right thing") can quickly end up being vilified in the media and charged by regulators for its monopoly-like behavior. As Kermit might say, it's not easy being good (or green.)Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter @Back2BizBook or at http://www.strategicdividendinvestor.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Albeit inspired by a progressive vision of a working environment without walls or hierarchies, the open plan office has come to be associated with some of the most dehumanizing and alienating aspects of the modern office. Jennifer Kaufman-Buhler's fascinating new book Open Plan: A Design History of the American Office (Bloomsbury, 2021) examines the history of the open plan office concept from its early development in the late 1960s and 1970s, through its present-day dominance in working spaces throughout the world, examining the design, meaning, and use of the open plan from the perspective of architects and designers, organizations, and workers. Using the progressive vision of the early promoters of the open plan as a framework for analysis, and drawing on original archival research and contemporary discussions of the open plan, this book explores the various goals embedded in the open plan and examines how the design of the open plan evolved through the late 20th century in response to various social, cultural, organizational, technological and economic changes.Nushelle de Silva is a PhD candidate in the Department of Architecture at the Massachusetts Institute of Technology. Her work examines museums and exhibitions, and how the dissemination of visual culture is politically mediated by international organizations in the twentieth century. Learn more about your ad choices. Visit megaphone.fm/adchoices

The poignant rise and fall of an idealistic immigrant who, as CEO of a major conglomerate, tried to change the way America did business before he himself was swallowed up by corporate corruption.At 8 a.m. on February 3, 1975, Eli Black leapt to his death from the 44th floor of Manhattan’s Pan Am building. The immigrant-turned-CEO of United Brands—formerly United Fruit, now Chiquita—Black seemed an embodiment of the American dream. United Brands was transformed under his leadership—from the “octopus,” a nickname that captured the corrupt power the company had held over Latin American governments, to “the most socially conscious company in the hemisphere,” according to a well-placed commentator. How did it all go wrong?Eli and the Octopus: The CEO Who Tried to Reform One of the World’s Most Notorious Corporations (Harvard UP, 2023) traces the rise and fall of an enigmatic business leader and his influence on the nascent project of corporate social responsibility. Born Menashe Elihu Blachowitz in Lublin, Poland, Black arrived in New York at the age of three and became a rabbi before entering the business world. Driven by the moral tenets of his faith, he charted a new course in industries known for poor treatment of workers, partnering with labor leaders like Cesar Chavez to improve conditions. But risky investments, economic recession, and a costly wave of natural disasters led Black away from the path of reform and toward corrupt backroom dealing.Now, two decades after Google’s embrace of “Don’t be evil” as its unofficial motto, debates about “ethical capitalism” are more heated than ever. Matt Garcia presents an unvarnished portrait of Black’s complicated legacy. Exploring the limits of corporate social responsibility on American life, Eli and the Octopus offers pointed lessons for those who hope to do good while doing business.Matt Garcia is Ralph and Richard Lazarus Professor of Latin American, Latino, and Caribbean Studies and of History at Dartmouth College. His books include From the Jaws of Victory: The Triumph and Tragedy of Cesar Chavez and the Farm Worker Movement, which received the Philip Taft Award for the Best Book in Labor History. Learn more about your ad choices. Visit megaphone.fm/adchoices