New Books in Economic and Business History

The Emergence of Modern Hospital Management and Organisation in the World 1880s-1930s (Emerald, 2021) uses a range of empirical evidence and case studies drawn from previously unpublished archival sources to offer one of the first international comparative studies on the transformation and modernization of hospital management globally, a century ago.Focusing on the key years between the 1880s and the 1930s, when millions of people crossed the globe and created new large health care needs in the largest cities of the world, Paloma Fernández-Pérez analyzes core themes from a business history perspective, like organization, ownership and the professionalization of management, to reach a new understanding about the history of modern large scale healthcare institutions from the United States to China, with particular attention to Spain.Paloma Fernández Pérez (PhD. in History University of California, Berkeley) is Professor of Economic History at the University of Barcelona. She is currently also a member of the Academic Board of the Emerging Markets Institute of the University of Cornell and an Invited Project Professor of the University of Kyoto in Japan. She is the founder, and coeditor in chief of the Journal of Evolutionary Studies in Business recently accepted for indexation in the Scopus database of journal Learn more about your ad choices. Visit megaphone.fm/adchoices

How do we understand our contemporary politics of race in historical, economical, and political context? How do we make sense of the Chinese Exclusion acts and ongoing racial discrimination? In Ghosts of Gold Mountain: The Epic Story of the Chinese Who Built the Transcontinental Railroad (HMH, 2019), Dr. Gordon H. Chang recovers the history of how thousands of immigrants from southern China came to work on the Transcontinental Railroad, at the time an essential American infrastructure and the second largest construction project in the world after the Suez Canal. Despite their contribution (they constituted 90% of the Central Pacific Railroad work force), Chinese workers were marginalized politically, socially, and economically in their time -- and in subsequent treatments of American labor and immigration history. But how to recount marginalization without objectifying the Chinese who built the railroads? Chang masterfully presents the story of 20,000 workers as lived experience. The Chinese are presented “not as voiceless objects of interest or docile human tools, but as vital, living, and feeling human beings who made history.” American history -- particularly our understanding of labor, immigration, and racism -- is incomplete without focusing on the Railroad Chinese. The book won The Asian/Pacific American Librarians Award for Literature and The Chinese American Librarians Association Best Book Award.Dr. Gordon H. Chang is the Olive H. Palmer Professor in Humanities and Professor of History at Stanford University (the university founded by Leland Stanford, head of the Central Pacific Railroad). He serves as Senior Associate Vice Provost for Undergraduate Education co-directs the Chinese Railroad Workers in North American Project at Stanford. Dr. Chang is the author of Fateful Ties: A History of America's Preoccupation with China (Harvard University Press, 2015) and co-editor of The Chinese and the Iron Road: Building the Transcontinental Railroad (Stanford University Press 2019) with Shelley Fisher Fishkin.Daniella Campos assisted with this podcast.Susan Liebell is an associate professor of political science at Saint Joseph’s University in Philadelphia. Why Diehard Originalists Aren’t Really Originalists recently appeared in the Washington Post’s Monkey Cage and “Retreat from the Rule of Law: Locke and the Perils of Stand Your Ground” was published in the Journal of Politics (July 2020). Email her comments at sliebell@sju.edu or tweet to @SusanLiebell. Learn more about your ad choices. Visit megaphone.fm/adchoices

Are we in the midst of a financial bubble? Do the current valuations of the electronic vehicle stocks or their SPACs make you raise an eyebrow? The trouble with bubbles is that they are hard to spot from within, and much easier to define and analyze after the fact.  In their new book, Boom and Bust: A Global History of Financial Bubbles (Cambridge University Press, 2020), William Quinn and John D. Turner analyze past instances of extreme speculation to come up with a typology of the phenomenon. Using what they call the Bubble Triangle of Marketability, Easy Money, and overt Speculation, they have created a tool for financial economists, and the rest of us, to judge what makes a bubble and what makes it pop. Given the unusual nature of the capital markets at the present time, you will want to be familiar with their analysis as you view your own investments.Daniel Peris is Senior Vice President at Federated Hermes in Pittsburgh. He can be reached at DanielxPeris@gmail.com or via Twitter @HistoryInvestor. His History and Investing blog and Keep Calm & Carry On Investing podcast are at https://strategicdividendinvestor.com Learn more about your ad choices. Visit megaphone.fm/adchoices

The middle decades of the 19th century witnessed the expansion of slavery and white settlement and dispossession of Indigenous lands west of the Mississippi River, the abolition of slavery in the British Empire followed by the importation of indentured laborers from India and China into the West Indies, the consolidation of British rule in India followed by the so-called Indian Mutiny, and the expansion of settler colonialism in Australia. These processes were all tied together by commerce, empire, and the spread of racial ideologies, yet their histories have largely been written separately. Until now.Zach Sell’s new book Trouble of the World: Slavery and Empire in the Age of Capital (University of North Carolina Press, 2021) highlights the connections between the “second slavery” in the Deep South of the United States, efforts to socially engineer mono-crop agriculture in India by a British colonial state that lip service to laissez-faire and free labor even as it tried to import plantation management techniques from the US south, how the attempt to create plantation-style agriculture in Queensland, Australia bumped up against the logic of white settler colonialism and attempts to expand plantation agriculture in Belize in the age of so-called “free” labor using indentured labor from Asia. This is a story of racial formation on a global scale, and of the limits of capital’s ability to remake social relations and environments in its own image, despite the capacity for organized brutality that it had at its disposal. This book is particularly important at a time when many American, British and French commentators have tried to downplay the violence of expansion and colonialism and to portray white supremacy as some sort of American peculiarity and relic of the past.Zach is currently Visiting Assistant Professor of History at Drexel University and was previously Ruth J. Simmons Postdoctoral Fellow and Visiting Assistant Professor of Slavery and Justice at Brown University’s Center for the Study of Slavery and Justice. Learn more about your ad choices. Visit megaphone.fm/adchoices

Modern markets and exchange, compared with other social and political spheres, are seen through technical abstractions. This intellectual compartmentalization has political consequences: if capitalism operates through arcane, objective, and rational mechanics, the very real interests and very real consequences of exchange are disguised and simplified. In their empirically dense and theoretically bold edited volume, Ajay Gandhi, Barbara Harriss-White, Douglas Haynes, and Sebastian Schwecke gather historians and anthropologists to reflect on the dynamic, adaptive, and ambiguous realities of markets and exchange in India.Rethinking Markets in Modern India: Embedded Exchange and Contested Jurisdiction (Cambridge University Press, 2020) provides a rich array of vivid case studies – from colonial property and advertising milieus to today’s bazaar and criminal economies – to examine the friction and interdependence between commerce, society, and state. Beyond providing a vantage point for rethinking global capitalism from one of the world’s major economies, the volume conceptualizes the moral, spatial, legal, and symbolic dynamics of markets in a way that is broadly relevant through the Global South.Two of the volume’s editors, Ajay Gandhi, assistant professor at Leiden University, and Sebastian Schwecke, head of the Delhi office of the Max Weber Foundation, discuss the book’s theoretical ambitions and empirical range.Saronik Bosu (@SaronikB on Twitter) is a doctoral candidate in English at New York University. He is writing his dissertation on South Asian economic writing. He is also coordinator of the Medical Humanities Working Group at NYU, and of the Postcolonial Anthropocene Research Network. He also co-hosts the podcast High Theory. Learn more about your ad choices. Visit megaphone.fm/adchoices

In the late-18th century, a group of publishers in what historian Robert Darnton calls the "Fertile Crescent" — countries located along the French border, stretching from Holland to Switzerland — pirated the works of prominent (and often banned) French writers and distributed them in France, where laws governing piracy were in flux and any notion of "copyright" very much in its infancy. Piracy was entirely legal and everyone acknowledged — tacitly or openly — that these pirated editions of works by Rousseau, Voltaire, and Diderot, among other luminaries, supplied a growing readership within France, one whose needs could not be met by the monopolistic and tightly controlled Paris Guild.Darnton's book Pirating and Publishing: The Book Trade in the Age of Enlightenment (Oxford UP, 2021) focuses principally on a publisher in Switzerland, one of the largest and whose archives are the most complete. Through the lens of this concern, he offers a sweeping view of the world of writing, publishing, and especially bookselling in pre-Revolutionary France--a vibrantly detailed inside look at a cut-throat industry that was struggling to keep up with the times and, if possible, make a profit off them. Featuring a fascinating cast of characters — lofty idealists and down-and-dirty opportunists — this new book expands upon on Darnton's celebrated work on book-publishing in France, most recently found in Literary Tour de France. Pirating and Publishing reveals how and why piracy brought the Enlightenment to every corner of France, feeding the ideas that would explode into revolution.Zach McCulley (@zamccull) is a historian of religion and literary cultures in early modern England and PhD candidate in History at Queen's University Belfast. Learn more about your ad choices. Visit megaphone.fm/adchoices

Professor Andrew Grant Wood’s new edited volume, The Business of Leisure: Tourism History in Latin America and the Caribbean (University of Nebraska Press, 2021), explores the political, economic, and cultural dimensions of tourism in the region and its relationship to nationalism, imperialism, development, and many other themes. The volume also provides a new way of understanding the relationship between the United States and Latin America during the twentieth century, showing how Latin American and US elites used tourism to create lucrative business deals, shape domestic and international politics, and bolster exceptionalist national histories. On this episode of the podcast, I talk with Wood about the book, along with Anadelia Romo and Elizabeth Manley, two contributors to the volume.Steven P. Rodriguez is a PhD candidate in history at Vanderbilt University. His research focuses on the history of Latin American student migration to the United States during the first half of the twentieth century. You can reach him at steven.p.rodriguez@vanderbilt.edu and follow his twitter at @SPatrickRod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Emma Griffin's Bread Winner: An Intimate History of the Victorian Economy (Yale UP, 2020) offers a refreshingly different take on the age of national prosperity in Britain from the 19th to early 20th centuries. Drawing from a collection of autobiographical accounts from largely-working class families, Griffin captures the forgotten stories of ordinary families who struggled to manage financially amidst the growing prosperity of the Victorian era. Her book touches on a range of important social, economic and gender issues that are equally relevant today as they were in their time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Capitalisms: Towards a Global History (Oxford University Press, 2020), edited by Kaveh Yazdani and Dilip M. Menon, aims to decenter work on the history of capitalism by looking at the longue durée from the tenth century; at regions as diverse as Song China, South and South East Asia, Latin America and the Ottoman and Safavid Empires; and exploring the plurality of developments over this extended time and space. The authors argue against conventional accounts that locate the origins of capitalism solely within Europe and within the conjuncture of the industrial revolution. The essays emphasize historical conjunctures, flows of commodities, circulation of knowledge and personnel, the role of mercantile capital and small producers and stress throughout the necessity to think beyond present day national boundaries. The volume contends with clichés of Western exceptionalism to make a set of historical arguments about non-Western and interconnected economic developments across the globe, prior to the era of colonialism. It argues fundamentally that the multiple histories of capitalism can be better understood from a truly global perspective.Dr Kaveh Yazdani is Lecturer (akademischer Rat) in economic history, University of Bielefeld. He teaches economic history at the University of Bielefeld, Germany. His scholarly interests include the 'Great Divergence' debate and the history of South and West Asia between the 17th and 20th centuries. He is the author of India, Modernity and the Great Divergence: Mysore and Gujarat (2017).Professor Dilip M. Menon is Mellon Chair of Indian Studies, Director of the Centre for Indian Studies in Africa, University of Witwatersrand, South Africa. He is the author of Caste, Nationalism and Communism in South India: Malabar, 1900-1948 (1994).Alexandra Ortolja-Baird is Lecturer in Early Modern European History at King’s College London. She tweets at @TimeTravelAllie. Learn more about your ad choices. Visit megaphone.fm/adchoices

Historians often portray the National Association of Manufacturers (NAM) as a conservative force in debates over free enterprise, battles against unions and government regulation, and the rise of capitalism in the United States. In The Industrialists: How the National Association of Manufacturers Shaped American Capitalism (Princeton UP, 2020), Jennifer Delton (Professor of History at Skidmore College) provides a comprehensive and nuanced political history. Delton focuses on the conservative policy goals of the organization but also its surprisingly progressive tactics and internal conflicts such as welcoming women and workers with disabilities, supporting the UN, embracing aspects of cosmopolitanism, and supporting the ERA, Civil Rights Act, and aspects of affirmative action. Delton deftly identifies the wider economic, ideological, and institutional concerns that drove NAM actors. As the book interrogates how the National Association of Manufacturing did – and did not – work, NAM emerges as a capitalist modernizer. She examines 125 years of massive change in American economic policy with the NAM at its center in order to interrogate manufacturing’s role in the development of capitalism at home and abroad – with implications for how we understand neoliberalism – especially liberal internationalist tendencies. Delton argues that liberal internationalism (associated often with Woodrow Wilson) can be seen as a crucial step toward the international institutions favored by post World War II European neoliberals.The book is divided into three parts. Part one traces the ascent and reorganization of industrial manufacturing from the 1890s to 1940. Part two highlights manufacturing’s dominance in US society and the world (1941-1980) as the US lowered tariffs and pursued free trade. The share of GDP peaked in 1953 when manufacturing represented 25.8% of domestic production. Part three treats the decline in manufacturing (beginning in 1960) and emphasizes deindustrialization, globalization, and the disintegration of the large multidivisional corporations in the 1990s.The book investigates how the globalizing impulse of neoliberalism played out historically in 20th century US politics – more specifically, how liberal internationalist ideas that were promoted by Democrats and antithetical to traditional political conservativism came to be espoused by the Republican party. Delton writes that “this is especially relevant now, as the current head of the Republican party [President Donald Trump, Republican] seems to be undoing the work of neoliberalism and liberal internationalists alike.” NAM’s history helps explain the bipartisan support for economic internationalism, freer trade, and what would later be called neoliberalism, even before the Cold War and Reagan, and even as voters (and Congress) remain extremely divided about these issues. The story of the NAM is full of contradictions, but The Industrialists deftly tracks them all, contextualizing the impacts on the national and global economy.In the podcast, Dr. Delton describes how the NAM archive was shaped by professional staff members – particularly one woman – whose views departed from NAM leaders. The referenced article, “Who Tells Your Story: Contested History at the NAM” is here.Benjamin Warren assisted with this podcast.Susan Liebell is associate professor of political science at Saint Joseph’s University in Philadelphia. She is the author of Democracy, Intelligent Design, and Evolution: Science for Citizenship (Routledge, 2013) and, most recently, “Retreat from the Rule of Law: Locke and the Perils of Stand Your Ground” in the Journal of Politics (July 2020). Email her comments at sliebell@sju.edu or tweet to @SusanLiebell. Learn more about your ad choices. Visit megaphone.fm/adchoices