New Books in Economics

Today I spoke with Michael Heller about the book he has just published with James Salzman. The title is Mine!: How the Hidden Rules of Ownership Control Our Lives (Doubleday, 2021)Michael Heller at Columbia University is Professor of Real Estate Law. Before joining Columbia Law in 2002, you taught at the University of Michigan, NYU, UCLA, and Yale Law Schools. Prior to entering academia, you worked at the World Bank on post-socialist legal transition and you even served as a law clerk at the 9th Circuit Court of Appeals. James Salzman is the Donald Bren Distinguished Professor of Environmental Law with joint appointments at the UCLA and UC Santa Barbara. He was formerly at Duke University. His book, Drinking Water: A History, was reviewed and praised in the New York Times and Washington Post.Ownership rules have been a key topic in economics and law since the establishment of the disciplines, with economics being much more junior than law. Recently Law and economics or economic analysis of law have become an important field.Ownership rules are a key issue for Marx, John R. Commons, Oliver E. Williamson, Henry Hanssman. The authors themselves are very erudite academics that have chosen to write a book based on their research but very accessible to everyone in the style of Freakonomics.The book is about 300 pages, 7 chapters and one epilogue. They reveal six simple stories everyone uses to claim everything. Owners choose the rule that steers us to do what they want. But we can pick a different rule. As Heller and Salzman show, ownership is always up for grabs.Ownership is not simple, natural. It is intrinsically controversial and linked to inequality. We started our conversation with children arguing for the ownership of a toy at the playground and we ended talking about the tax and ownership regime in South Dakota.“Mine” is one of the first words babies learn. By the time we grow up, the idea of ownership seems natural, whether we are buying a cup of coffee or a house. But who controls the space behind your airplane seat: you reclining or the squished laptop user behind you? Why does HBO look the other way when you illegally borrow a password to stream their shows? And after a snowstorm, why does a chair in the street hold your parking space in Chicago, but in New York you lose the space and the chair?This is a very nice book that many will enjoy reading and is advertised by a very cool website with videos that allow you to meet the authors: https://www.minethebook.com/videos/ Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

JeVon McCormick was born the son of a black pimp father and a white orphan mother. Hear how, as a nine year old, he critiqued the way his father managed prostitutes, to his rejection of concepts such as “hope” and “luck”. When he was in juvenile detention neither of his parents knew where he was. His journey from toughest of upbringings to fame and fortune is unforgettable and inspiring. Kimon and Richard never spoke to an entrepreneur with a history like his. We are sure you will find it as compelling as we did. The lessons that he shares from his journey about saving, adaptation, learning by doing, the power of asking questions, accountability, and responsibility can benefit entrepreneurs and leaders the world over. McCormick’s book I Got There: How a Mixed-Race Kid Overcame Racism, Poverty, and Abuse to Achieve the American Dream tells his story.About our guest JeVon McCormick is the son of a black pimp and a white mother, and was raised in the most dreadful conditions, three times jailed before he was an adult. His book, I Got There, tells the harrowing story of his struggle to succeed despite the over whelming odds stacked against him Today, he’s the CEO of a multi-million dollar publishing company that was recently ranked the #1 Top Company Culture inAmerica by Entrepreneur Magazine. JeVon is the President and CEO of Scribe Media, a publishing company that helps individuals from a variety of backgrounds write, publish, and market their books. Scribe Media has worked with more than 1700 authors, including members of The Nobel Peace Prize Committee, Nassim Taleb and David Goggins, whose blockbuster book Can’t Hurt Me has sold over 2 million copies. JeVon is an author and highly sought after keynote speaker, delivering the message that “Everyone Has A Story” to enthusiastic audiences across the country. JeVon is passionate about conscious entrepreneurship and creating opportunities for at-risk youth. He has mentored young men and women in the juvenile justice system, as well as those in lower economic communities. JeVon currently serves as a board member for Conscious Capitalism and the StartEdUp Foundation. His story and work have been featured on CNBC, and in Entrepreneur, Forbes, and Inc. magazines.https://scribemedia.com/https:... The NBN Entrepreneurship and Leadership podcast aims to educate and entertain, sharing insights based on the personal story of our carefully selected guests aiming for the atmosphere of an informal conversation in a bar or over a cup of coffee. Follow our channels on Facebook, Linkedin and Twitter.View the episode on Youtube here. You can listen to the episode on the NBN here.About Kimon Fountoukidis Twitter LinkedinKimon is the founder of both Argos Multilingual and PMR. Both companies were founded in the mid 90s with zero capital and both have gone on to become market leaders in their respective sectors. Kimon was born in New York and moved to Krakow, Poland in 1993. Listen to his story here.About Richard Lucas Twitter LinkedinRichard is a business and social entrepreneur who founded or invested in more than 30 businesses, including investments in Argos Multilingual, PMR and, in 2020, the New Books Network. Richard has been a TEDx event organiser, supports the pro-entrepreneurship ecosystem, and leads entrepreneurship workshops at all levels: from pre- to business schools. Richard was born in Oxford and moved to Poland in 1991. Read more here. Listen to his story in an autobiographical TEDx talk here. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In his book The Next Shift: The Fall of Industry and the Rise of Healthcare in Rust Belt America (Harvard University Press, 2021), Gabriel Winant explains how the social reproductive labor sustaining the US's industrial economy was institutionalized in response to steelworker layoffs, aging, and sickness beginning in the 1960s. The result was a recomposition of the American working class, from a predominantly white male industrial one, to a meagerly paid and socially devalued pool of care workers comprised mostly of women, and especially women of color. Neoliberalism's insecure labor regime is not a reversion to an earlier period of inequality but a consequence of midcentury welfare policy, the partial security it offered and the race and gender hierarchies it remade.Patrick Reilly studies history at Vanderbilt University Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In this magnum opus, Paul Vallely guides the reader on a journey through the history and meaning of giving in religion and society.Vivid with anecdote and scholarly insight, this magisterial survey – from the ancient Greeks to today's high-tech geeks – provides an original take on the history of philanthropy. It shows how giving has, variously, been a matter of honor, altruism, religious injunction, political control, moral activism, enlightened self-interest, public good, personal fulfillment and plutocratic manipulation.Its narrative moves from the Greek man of honor and Roman patron, via the Jewish prophet and Christian scholastic – through Puritan proto-capitalist, Enlightenment activist and Victorian moralist – to the robber-baron philanthropist, the welfare socialist, the celebrity activist and today's wealthy mega-giver. In the process it discovers that philanthropy lost an essential element as it entered the modern era. The book then embarks on a journey to determine where today's philanthropists come closest to recovering that missing dimension. Philanthropy: From Aristotle to Zuckerberg (Bloomsbury Continuum, 2020) explores the successes and failures of philanthrocapitalism, examines its claims and contradictions, and asks tough questions of top philanthropists and leading thinkers – among them Richard Branson, Eliza Manningham-Buller, Jonathan Ruffer, David Sainsbury, John Studzinski, Bob Geldof, Naser Haghamed, Lenny Henry, Jonathan Sacks, Rowan Williams, Ngaire Woods, and the presidents of the Rockefeller and Soros foundations, Rajiv Shah and Patrick Gaspard. In extended conversations they explore the relationship between philanthropy and family, faith, society, art, politics, and the creation and distribution of wealth.Highly engaging and meticulously researched, Paul Vallely's authoritative account of philanthropy then and now critiques the excessive utilitarianism of much modern philanthrocapitalism and points to how philanthropy can rediscover its soul.Renee Garfinkel, Ph.D. is a psychologist, writer, Middle East television commentator and host of The New Books Network’s Van Leer Jerusalem Series on Ideas. Write her at r.garfinkel@yahoo.com. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Perilous Bounty: The Looming Collapse of American Farming and How We Can Prevent It (Bloomsbury Publishing, 2020) is an unsettling journey into the disaster-bound American food system, and an exploration of possible solutions, from leading food politics commentator and former farmer Tom Philpott.More than a decade after Michael Pollan's game-changing The Omnivore's Dilemma transformed the conversation about what we eat, a combination of global diet trends and corporate interests have put American agriculture into a state of "quiet emergency," from dangerous drought in California--which grows more than 50 percent of the fruits and vegetables we eat--to catastrophic topsoil loss in the "breadbasket" heartland of the United States. Whether or not we take heed, these urgent crises of industrial agriculture will define our future.In Perilous Bounty, veteran journalist and former farmer Tom Philpott explores and exposes the small handful of seed and pesticide corporations, investment funds, and magnates who benefit from the trends that imperil us, with on-the-ground dispatches featuring the scientists documenting the damage and the farmers and activists who are valiantly and inventively pushing back.Resource scarcity looms on the horizon, but rather than pointing us toward an inevitable doomsday, Philpott shows how the entire wayward ship of American agriculture could be routed away from its path to disaster. He profiles the farmers and communities in the nation's two key growing regions developing resilient, soil-building, water-smart farming practices, and readying for the climate shocks that are already upon us; and he explains how we can help move these methods from the margins to the mainstream.Jenny Splitter is an independent journalist covering food, farming, science, and climate. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Few topics have as many myths, stereotypes, and misperceptions surrounding them as that of poverty in America. The poor have been badly misunderstood since the beginnings of the country, with the rhetoric only ratcheting up in recent times. Our current era of fake news, alternative facts, and media partisanship has led to a breeding ground for all types of myths and misinformation to gain traction and legitimacy.Poorly Understood: What America Gets Wrong about Poverty (Oxford UP, 2021) is the first book to systematically address and confront many of the most widespread myths pertaining to poverty. Mark Robert Rank, Lawrence M. Eppard, and Heather E. Bullock powerfully demonstrate that the realities of poverty are much different than the myths; indeed in many ways they are more disturbing. The idealized image of American society is one of abundant opportunities, with hard work being rewarded by economic prosperity. But what if this picture is wrong? What if poverty is an experience that touches the majority of Americans? What if hard work does not necessarily lead to economic well-being? What if the reasons for poverty are largely beyond the control of individuals? And if all of the evidence necessary to disprove these myths has been readily available for years, why do they remain so stubbornly pervasive? These are much more disturbing realities to consider because they call into question the very core of America's identity.Armed with the latest research, Poorly Understood not only challenges the myths of poverty and inequality, but it explains why these myths continue to exist, providing an innovative blueprint for how the nation can move forward to effectively alleviate American poverty.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

Today I talked to Ming-Hui Huang about her book (coauthored with Roland T. Rust), The Feeling Economy: How Artificial Intelligence Is Creating the Era of Empathy (Palgrave MacMillan, 2021)This episode covers the movement of the economy from brawn to brains to hearts. Put another way, the focus here is on the movement from the Physical Economy (farming, factories, etc.) to the Thinking Economy to now the dawning of the Feeling Economy. In the near-term future, artificial intelligence (AI) will handle the thinking tasks and humans on the job will focus on adding value through empathy and their interpersonal skills. The episode explores everything from workers re-skilling, cross-skilling and up-skilling to handle this change, to the impact of this change to being feeling-centric on our politics, educational practices, and the expectations of consumers. Of special note is that the new economic era may privilege female “soft” skills over the “hard” skills men are known by and often more comfortable with.Ming-Hui Huang holds a number of posts. She’s a Distinguished Professor at National Taiwan University; a fellow of the European Marketing Academy (EMAC); an International Research Fellow of the Centre for Corporate Reputation, University of Oxford, UK; and a Distinguished Research Fellow of the Center for Excellence in Service, University of Maryland, USA. She is also the incoming Editor-in-Chief of the Journal of Service Research.Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). 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

Alan Klima’s Ethnography #9 (Duke University Press, 2019) was co-written by a ghost. And that’s just the start of what’s going on in this eerie, singular book. It’s a discussion of finance in post-crash Thailand, a study of non-material histories, and an examination of the limits of anthropological writing. It’s also at once a complex and textured challenge to ethnographic realism and a compelling story about the life and death (and etc) of a young girl. The book was a co-winner of 2020’s Gregory Bateson Prize and is available open access here. In today’s conversation, I do my best to ask Professor Klima about the status of ghosts in anthropology, tensions between narrative and theory, and how anthropologists can get weird with their writing. Alan Klima is Professor of Anthropology at UC Davis, his previous works include the book The Funeral Casino (Princeton University Press 2002) and the film Ghosts and Numbers (2010).Lachlan Summers is an eccentric billionaire and PhD candidate in cultural anthropology at UC Santa Cruz, where he researches Mexico City’s repeating earthquakes. He is a Contributing Editor at Cultural Anthropology, a member of the Emergent Futures CoLab, and can be found on Twitter. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In this episode Kimon and Richard explain why they are launching the NBN Entrepreneurship and Leadership podcast, the topics they are going to delve into with their guests and what aspects of their guests’ entrepreneurial journeys they are most interested in. What has been the role of background and upbringing, social and family pressures, education (or lack of it), and their attitudes to competition and luck. Despite their common business history Kimon and Richard highlight differences in their experiences and how they believe their varying perspectives will lead to a solid exploration of what can be learned from the guests. If you want to get a sense of what this channel is all about, and why it should be interesting to listeners who are into entrepreneurship and leadership, this is a great place to start.The NBN Entrepreneurship and Leadership podcast aims to educate and entertain, sharing insights based on the personal story of our carefully selected guests aiming for the atmosphere of an informal conversation in a bar or over a cup of coffee. Follow our channels on Facebook, Linkedin and Twitter.View the episode on Youtube here. You can listen to the episode on the NBN here.  About the NBNThe New Books Network was founded in 2007 as a podcast interviewing the authors of academic books, and has grown to the largest author interview podcast in the world publishing 12 podcasts a day in more than 90 specialist areas, with over a million downloads a month. Read about the founder Marshall Poe and the NBN here. In recent years it has expanded beyond its “author interview origins”. Historically NBN only did audio recordings. E&L is the first NBN podcast distributed on Youtube.About Kimon Fountoukidis Twitter LinkedinKimon is the founder of both Argos Multilingual and PMR. Both companies were founded in the mid 90s with zero capital and both have gone on to become market leaders in their respective sectors. Kimon was born in New York and moved to Krakow, Poland in 1993. Listen to his story here.About Richard Lucas Twitter LinkedinRichard is a business and social entrepreneur who founded or invested in more than 30 businesses, including investments in Argos Multilingual, PMR and, in 2020, the New Books Network. Richard has been a TEDx event organiser, supports the pro-entrepreneurship ecosystem, and leads entrepreneurship workshops at all levels: from pre- to business schools. Richard was born in Oxford and moved to Poland in 1991. Read more here. Listen to his story in an autobiographical TEDx talk here. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

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/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics