New Books in Economic and Business History

The outbreak of the First World War shattered the established European art market. Amidst fighting, looting, confiscations, expropriation fears and political and economic upheaval, an integrated marketplace shaped by upper-class patrons broke down entirely. In its place, Maddalena Alvi argues, can be found the origins of a recognizably modern market of nationalized spheres driven by capitalist investment and speculation, yet open to wider social strata. Delving into auction records, memoirs, newspaper articles, financial and legal documents in six languages, Alvi explores these cultural and socio-economic developments across the British, French, and German markets, as well as trade spheres such as Russia and Scandinavia. 1914 marked the end of the European art market and cemented the connection between art and finance.  The European Art Market and the First World War: Art, Capital, and the Decline of the Collecting Class, 1910–1925 (Cambridge University Press, 2025) Maddalena Alvi holds a PhD in History from the University of Cambridge, an MSc in Economic and Social History from the University of Oxford, and an MLitt in Art History from the University of Glasgow. Priya S. Gandhi is a writer and strategist based in New York City. Learn more about your ad choices. Visit megaphone.fm/adchoices

Amid political repression and a deepening affordability crisis, Budget Justice: On Building Grassroots Politics and Solidarities (Princeton UP, 2025) challenges everything you thought you knew about “dull” and daunting government budgets. It shows how the latter confuse and mislead the public by design, not accident. Arguing that they are moral documents that demand grassroots participation to truly work for everyone, the book reveals how everyday citizens can shape policy to tackle everything from rising housing and food costs to unabated police violence, underfunded schools, and climate change–driven floods and wildfires.Drawing on her years of engagement with democratic governance in New York City and around the globe, Celina Su proposes a new kind of democracy—in which city residents make collective decisions about public needs through processes like participatory budgeting, and in which they work across racial divides and segregated spaces as neighbors rather than as consumers or members of voting blocs. Su presents a series of “interludes” that vividly illustrate how budget justice plays out on the ground, including in-depth interviews with activists from Porto Alegre, Brazil, Barcelona, Spain, and Jackson, Mississippi, and shares her own personal reflections on how changing social identities inform one’s activism.Essential reading to empower citizens, Budget Justice explains why public budgets reflect a crisis not so much in accounting as in democracy, and enables everyone, especially those from historically marginalized communities, to imagine and enact people’s budgets and policies—from universal preschool to affordable housing—that will enable their communities to thrive. Celina Su is the inaugural Marilyn J. Gittell Chair in Urban Studies (with an appointment in Critical Social & Environmental Psychology) at the Graduate Center of the City University of New York, as well as Associate Professor of Political Science at Brooklyn College. Her interests lie in civil society and the cultural politics of education and health policy. She is especially interested in how everyday citizens engage in policy-making—via deliberative democracy when inclusive institutions exist, and via protest and social movements when they do not. Celina received a Ph.D. in Urban Studies from MIT and a B.A. Honors from Wesleyan University. Jen Hoyer is Technical Services and Electronic Resources Librarian at CUNY New York City College of Technology. She is co-author of What Primary Sources Teach: Lessons for Every Classroom (2022) and The Social Movement Archive (2021), and co-editor of Armed By Design: Posters and Publications of Cuba’s Organization of Solidarity of the Peoples of Africa, Asia, and Latin America (2025). Learn more about your ad choices. Visit megaphone.fm/adchoices

In Hedged Out: Inequality and Insecurity on Wall Street (U California Press, 2022) Megan Tobias Neely, a former hedge fund worker takes an ethnographic approach to hedge funds. Manager? A greedy fraudster, a visionary entrepreneur, a wolf of Wall Street? She gives readers an insider perspective on the phenomenon. Facing an unpredictable and risky stock market, hedge fund workers work long hours and build tight-knit networks with people who look and behave like them. Neely shows how the system of elite power and privilege sustains and builds over time as the beneficiaries concentrate their resources. Learn more about your ad choices. Visit megaphone.fm/adchoices

In The Land Trap (Portfolio / Penguin), Mike Bird—Wall Street editor at The Economist—reveals how this ancient asset still exerts outsize influence over the modern world. From the speculative land grabs of colonial America to China's real estate crisis today, Bird shows how fortunes are built—and destroyed—on the bedrock of land. Tracing three centuries of history, Bird explores how land quietly became the linchpin of the global banking system, driving everything from soaring housing prices to rising geopolitical tensions. As governments wrestle with inequality and land grows ever scarcer, The Land Trap offers a powerful new framework for understanding the hidden force behind today's most urgent challenges. This is the book for anyone who wants to see beyond markets and money to the real game being played on a foundation as old as civilization itself. Timely, provocative, and essential, The Land Trap will change how you see the ground beneath your feet. Reed Schwartz (@reedschwartzsf) holds an MPhil in Intellectual History from the University of Cambridge. Learn more about your ad choices. Visit megaphone.fm/adchoices

As the world moves with increasing urgency to mitigate climate change and catalyze energy transitions to net zero, understanding the governance mechanisms that will unlock barriers to energy transitions is of critical importance. Governing Energy Transitions: A Study of Regime Complex Effectiveness on Geothermal Development in Indonesia and the Philippines (Cambridge UP, 2025) by Dr. Kathryn Chelminski examines how the clean energy regime complex-the fragmented, complex sphere of governance in the clean energy issue area characterized by proliferating and overlapping international institutions-can be effective in fostering energy transitions at the domestic level, particularly in emerging market and developing economies (EMDEs). Through comparative case studies of geothermal development in Indonesia and the Philippines, the chapters provide two different tales of energy transitions, demonstrating how domestic factors have hindered or facilitated progress. This book will be useful for students, researchers, and practitioners working in international relations, energy politics, political science, development studies, public policy, international law, and sociology. This interview was conducted by Dr. Miranda Melcher whose book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. You can find Miranda’s interviews on New Books with Miranda Melcher, wherever you get your podcasts. Learn more about your ad choices. Visit megaphone.fm/adchoices

The American Jewish philanthropic enterprise is unparalleled in scope, dynamism, and the diversity of funders and the causes they support. Yet even as Jewish giving has been largely successful in responding with alacrity to emergencies, it has been subjected to severe criticism. What once was regarded as a point of pride has become the object of scorn and dismissal, with skepticism--if not harsh criticism--about its work rife both within and outside Jewish communal circles. Based on 320 interviews with professionals at Jewish not-for-profits across the United States, principals of foundations and their top staff personnel, and also tax filings of major foundations, Jewish Giving: Philanthropy and the Shaping of American Jewish Life (NYU Press, 2025) provides readers with fresh perspectives to evaluate the efforts of Jewish donors, large and small. The book traces the evolution of Jewish giving from the colonial era to the present, charting the changing profile of those who give to Jewish causes and what funders have aimed to achieve through their largesse. It makes the case that philanthropy serves as a prism through which broader themes in communal life are illuminated. As society or politics change, the priorities of charitable giving adjust in response. These changes in targeted funding can help to sharpen our understanding of demographic and social patterns. Devoting much attention to twenty-first century developments in contemporary Jewish giving, the book pays special attention to the changing landscape of donors who are remaking Jewish philanthropy, including women, Orthodox Jews, Sephardi givers, and young funders. Learn more about your ad choices. Visit megaphone.fm/adchoices

They worked Virginia's tobacco fields, South Carolina's rice marshes, and the Black Belt's cotton plantations. Wherever they lived, enslaved people found their lives indelibly shaped by the Southern environment. By day, they plucked worms and insects from the crops, trod barefoot in the mud as they hoed rice fields, and endured the sun and humidity as they planted and harvested the fields. By night, they clandestinely took to the woods and swamps to trap opossums and turtles, to visit relatives living on adjacent plantations, and at times to escape slave patrols and escape to freedom.Scars on the Land: An Environmental History of Slavery in the American South (Oxford UP, 2022) is the first comprehensive history of American slavery to examine how the environment fundamentally formed enslaved people's lives and how slavery remade the Southern landscape. Over two centuries, from the establishment of slavery in the Chesapeake to the Civil War, one simple calculation had profound consequences: rather than measuring productivity based on outputs per acre, Southern planters sought to maximize how much labor they could extract from their enslaved workforce. They saw the landscape as disposable, relocating to more fertile prospects once they had leached the soils and cut down the forests. On the leading edge of the frontier, slavery laid waste to fragile ecosystems, draining swamps, clearing forests to plant crops and fuel steamships, and introducing devastating invasive species. On its trailing edge, slavery left eroded hillsides, rivers clogged with sterile soil, and the extinction of native species. While environmental destruction fueled slavery's expansion, no environment could long survive intensive slave labor. The scars manifested themselves in different ways, but the land too fell victim to the slave owner's lash.Although typically treated separately, slavery and the environment naturally intersect in complex and powerful ways, leaving lasting effects from the period of emancipation through modern-day reckonings with racial justice.Brandon T. Jett, professor of history at Florida SouthWestern State College, creator of the Lynching in LaBelle Digital History Project, and author of Race, Crime, and Policing in the Jim Crow South (LSU Press, 2021) and co-editor of Steeped in a Culture of Violence: Murder, Racial Injustice, and Other Violent Crimes in Texas, 1965–2020 (Texas A&M University Press, scheduled Spring 2023). Twitter: @DrBrandonJett1. Learn more about your ad choices. Visit megaphone.fm/adchoices

Peoples & Things host, Lee Vinsel, talks with Thomas Haigh, Professor and Chair of History and affiliate of the Department of Computer Science at University of Wisconsin-Milwaukee, about his forthcoming book on the history of artificial intelligence. The book, which has had the working title _Artificial Intelligence: The History of a Brand_ with the final title to be determined, examines how and why historical actors have decided to apply the term “artificial intelligence” to a variety of disparate computing technologies that often have very little to do with one another. Vinsel and Haigh also talk about how the book’s lessons apply to our current Generative AI bubble and an assortment of other fun topics along the way. Learn more about your ad choices. Visit megaphone.fm/adchoices

By the end of the twentieth century, the tomato—indigenous to the Americas—had become Egypt's top horticultural crop and a staple of Egyptian cuisine. The tomato brought together domestic consumers, cookbook readers, and home cooks through a shared culinary culture that sometimes transcended differences of class, region, gender, and ethnicity—and sometimes reinforced them. In Nile Nightshade: An Egyptian Culinary History of the Tomato (U California Press, 2025), Dr. Anny Gaul shows how Egyptians' embrace of the tomato and the emergence of Egypt's modern national identity were both driven by the modernization of the country's food system. Drawing from cookbooks, archival materials, oral histories, and vernacular culture, Dr. Gaul follows this commonplace food into the realms of domestic policy and labor through the hands of Egypt's overwhelmingly female home cooks. As they wrote recipes and cooked meals, these women forged key aspects of public culture that defined how Egyptians recognized themselves and one another as Egyptian. This interview was conducted by Dr. Miranda Melcher whose book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. You can find Miranda’s interviews on New Books with Miranda Melcher, wherever you get your podcasts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Originating in the Nineteenth Century, the European idea of development was shaped around the premise that the West possessed progressive characteristics that the East lacked. As a result of this perspective, many alternative development discourses originating in the East were often overlooked and forgotten. Indian Economics is but one example. By recovering thought from the margins, Relocating Development Economics: The First Generation of Modern Indian Economists (Cambridge UP, 2024) exposes useful new ways of viewing development. It looks at how an Indian tradition in economic thought emerged from a group of Indian economists in the late Nineteenth Century who questioned dominant European economic ideas on development and agricultural economics. This book shows how the first generation of modern Indian economists pushed at the boundaries of existing theories to produce reformulations that better fit their subcontinent and opens up discursive space to find new ways of thinking about regress, progress, and development. Soumyadeep Guha is a fourth-year PhD student in the History Department at Binghamton University, New York. He is interested in historical research focusing on themes such as Agrarian/Environmental History, History of Science and Tech, Global History, and their intersections. His prospective dissertation questions are on the pre-history of the ‘Green Revolution’ in Eastern India. Learn more about your ad choices. Visit megaphone.fm/adchoices