New Books in Economic and Business History

With the Biden Administration's student loan relief coming down the pike, Annika sits down with Dr. Beth Akers, a Senior Fellow at the American Enterprise Institute who specializes in higher education finance. Beth discusses the issue of student debt, and what the Biden relief plan will and will not achieve.You can find more information about Dr. Akers and her recent writing and appearances here.Annika Nordquist is the Communications Coordinator of Princeton University’s James Madison Program in American Ideals and Institutions and host of the Program’s podcast, Madison’s Notes. Learn more about your ad choices. Visit megaphone.fm/adchoices

Historian Richard John, professor of journalism at Columbia University, talks about his book, Network Nation: Inventing American Telecommunications, with Peoples & Things host, Lee Vinsel. Network Nation is a history of the telegraph and telephone in the United States, and one of its key findings is that, from the very beginning of these technologies, thinking about the state, regulation, and ideas of political economy was at the heart of business strategy. John and Vinsel also talk about the nature of historical research and why it is so important to go back to primary sources. Learn more about your ad choices. Visit megaphone.fm/adchoices

From the 1940s to 1960s, Iran developed into the world's first “petro-state,” where oil represented the bulk of state revenue and supported an industrializing economy, expanding middle class, and powerful administrative and military apparatus. In Petroleum and Progress in Iran: Oil, Development, and the Cold War (Cambridge UP, 2022), Gregory Brew outlines how the Pahlavi petro-state emerged from a confluence of forces – some global, some local. He shows how the shah's particular form of oil-based authoritarianism evolved from interactions with American developmentalists, Pahlavi technocrats, and major oil companies, all against the looming backdrop of the United States' Cold War policy and the coup d’état of August 1953. By placing oil at the center of the Cold War narrative, Brew contextualizes Iran's pro-Western alignment and slide into petrolic authoritarianism. Synthesizing a wide range of sources and research methods, this book demonstrates that the Pahlavi petro-state was not born, but made, and not solely by the Pahlavi shah.Grant Golub is an Ernest May Fellow in History and Policy at the Harvard Kennedy School and a PhD candidate in U.S. and international history at the London School of Economics and Political Science (LSE). His research examines the politics of American grand strategy during World War II. Follow him on Twitter @ghgolub. Learn more about your ad choices. Visit megaphone.fm/adchoices

Over six million prime-age men are neither working nor looking for work; America's low unemployment rate hides the fact that many men have dropped out of the workforce altogether. Our workforce participation rate is on par with that seen during the Great Depression.Why does this problem affect men so acutely? Why is it so specific to America? What are these missing men doing with their time? How do we differentiate between leisure and idleness? Demographer and economist Nicholas Eberstadt, author of Men Without Work (Templeton Press, 2022), discusses these trends and what they mean for America's future.Annika Nordquist is the Communications Coordinator of Princeton University’s James Madison Program in American Ideals and Institutions and host of the Program’s podcast, Madison’s Notes. Learn more about your ad choices. Visit megaphone.fm/adchoices

Microchips are both important and in short supply. So how important? And what can be done to make them more plentiful? Also, what are the geopolitical implications of having the production of microchips concentrated in relatively few hands. Owen Bennett Jones talks microchips with Julian Kamasa of the Centre for Security Studies in Zurich.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/adchoices

Philip Scranton, University Board of Governors Professor Emeritus of the history of industry and technology at Rutgers University-Camden, talks about his book, Business Practice In Socialist Hungary, Volume 1: Creating The Theft Economy, 1945-1957, with Peoples & Things host Lee Vinsel. Scranton’s book examines how leaders in socialist Hungary planned and developed business enterprises in the shattered post-World War II economy and how workers, farmers, and citizens both supported and resisted these aims. Scranton and Vinsel also talk about what this project means for business history, which has tended to focus far too often on Western, rich, capitalist nations. Learn more about your ad choices. Visit megaphone.fm/adchoices

In her detailed cultural history of technological change, Electrifying Mexico, Diana Montaño argues that ordinary Mexicans became electrifying agents who actively negotiated the extent and manner electricity entered their lives and lived spaces in Mexico City. An Assistant Professor of History at Washington University in St. Louis, Dr. Montaño's teaching and research interests broadly include the construction of modern Latin American societies with a focus on technology and its relationship to nationalism, everyday life and domesticity. Learn more about your ad choices. Visit megaphone.fm/adchoices

Catherine Frieman, an associate professor of European Archaeology at the School of Archaeology, talks about her recent book, An Archaeology of Innovation: Approaching Social and Technological Change in Human Society, with Peoples & Things host, Lee Vinsel. Her book offers a long-term perspective on innovation that only archaeology can offer and draws on case studies from across human history, from our earliest hominin ancestors to the present. The book makes several different arguments, but one of them is that our present narrow focus on pushing the adoption of technical innovations—especially so called “disruptive innovations”—ignores the complex social, technological, and environmental systems that undergirds successful societies. Learn more about your ad choices. Visit megaphone.fm/adchoices

The ocean is more connective device than barrier, bringing together diverse topics, time-periods and geographies. It has linked and connected the various littorals of Asia into a segmented, yet at the same time, a unitary circuit over roughly the past 500 years since the so-called age of contact initiated a quickening of patterns and engagements that already existed. But despite the centrality of the maritime domain, there hasn’t really been a single study looking at Asia’s seas through a broad macro-lens.Joining Dr Natali Pearson on SSEAC Stories, Professor Eric Tagliocozzo seeks to address this gap. Drawing from his latest book, In Asian Waters: Oceanic Worlds from Yemen to Yokohama (Princeton University Press, 2022), he provides a sweeping account of how the seas and oceans of Asia have shaped the region’s history for the past half millennium, leaving an indelible mark on the modern world in the process.About Eric Tagliacozzo:Eric Tagliacozzo is the John Stambaugh Professor of History at Cornell University, where he teaches Southeast Asian history. He is the director of Cornell's Comparative Muslim Societies Program, the director of the Cornell Modern Indonesia Project, and the contributing editor of the journal Indonesia. Much of his work has centered on the history of people, ideas, and material in motion in and around Southeast Asia, especially in the colonial age. His first book, Secret Trades, Porous Borders: Smuggling and States Along a Southeast Asian Frontier (Yale University Press, 2005), examined many of these ideas by analysing the history of smuggling in the region. His second book, The Longest Journey: Southeast Asians and the Pilgrimage to Mecca (Oxford University Press, 2013), attempted to write a history of this very broad topic from earliest times to the present.For more information or to browse additional resources, visit the Sydney Southeast Asia Centre’s website: www.sydney.edu.au/sseac. Learn more about your ad choices. Visit megaphone.fm/adchoices

Disruption resulting from the proliferation of AI is coming. The authors of the bestselling Prediction Machines describe what you can do to prepare. Banking and finance, pharmaceuticals, automotive, medical technology, retail. Artificial intelligence (AI) has made its way into many industries around the world. But the truth is, it has just begun its odyssey toward cheaper, better, and faster predictions to drive strategic business decisions--powering and accelerating business. When prediction is taken to the max, industries transform. The disruption that comes with such transformation is yet to be felt--but it is coming. How do businesses prepare? In Prediction Machines, eminent economists Ajay Agrawal, Joshua Gans, and Avi Goldfarb explained the simple yet game-changing economics of AI. Now, in Power and Prediction: The Disruptive Economics of Artificial Intelligence (HBR Press, 2022), they go further to reveal AI as a prediction technology directly impacting decision-making and to teach businesses how to identify disruptive opportunities and threats resulting from AI. Their exhaustive study of new developments in artificial intelligence and the past history of how technologies have disrupted industries highlights the striking phase we are now in: after witnessing the power of this new technology and before its widespread adoption--what they call "the Between Times." While there continue to be important opportunities for businesses, there are also threats of disruption. As prediction machines improve, old ways of doing things will be upended. Also, the process by which AI filters into the many systems involved in application is very uneven. That process will have winners and losers. How can businesses leverage, or protect, their positions? Filled with illuminating insights, rich examples, and practical advice, Power and Prediction is the must-read guide for any business leader or policy maker on how to make the coming AI disruptions work for you rather than against you.Interviewee Avi Goldfarb is the Rotman Chair in Artificial Intelligence and Healthcare and a professor of marketing at the Rotman School of Management, University of Toronto. Avi is also Chief Data Scientist at the Creative Destruction Lab and the CDL Rapid Screening Consortium, a faculty affiliate at the Vector Institute and the Schwartz-Reisman Institute for Technology and Society, and a Research Associate at the National Bureau of Economic Research. Avi’s research focuses on the opportunities and challenges of the digital economy.He has published academic articles in marketing, statistics, law, management, medicine, political science, refugee studies, physics, computing, and economics. Avi is a former Senior Editor at Marketing Science. His work on online advertising won the INFORMS Society of Marketing Science Long Term Impact Award. He testified before the U.S. Senate Judiciary Committee on competition and privacy in digital advertising. His work has been referenced in White House reports, European Commission documents, the New York Times, the Economist, and elsewhere.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/adchoices