New Books in Economics

For seventeen years, Chris Fenton served as the president of DMG Entertainment Motion Picture Group, a multi-billion-dollar global media company headquartered in Beijing. He has produced or supervised twenty-one films, grossing $2 billion in worldwide box-office.In his new book, Feeding the Dragon: Inside the Trillion Dollar Dilemma Facing Hollywood, the NBA, & American Business (Post Hill Press, 2020), Fenton shares not only his journey from waiting tables at the Olive Garden to producing some of the most recognizable Hollywood blockbuster movies. And, in the process, he discovers his diplomatic mission: connecting the US and China through commerce and culture:I felt a sense of mission that went far beyond box-office numbers. US-China relations were on the line. We all knew it. We had to make it work. But as an American, something bigger was at stake. We were pulling a rival country’s culture into our own. We were doing more than opening a market or making nice with China. We were bridging a cultural gap, making the world smaller, more stable, less contentious, and much safer. Failure would surely result in the opposite effect. Fenton conveys not only the regulatory obstacles that U.S. movies face when entering the Chinese market but also the cultural barriers. For the media to be successful in China, it needs to be relevant to Chinese audiences. But, while facing challenges in Asia, DMG also found trouble in the U.S. when the Securities and Exchange Commission launched an investigation of their dealings in ChinaLike the blockbuster movies Fenton produces (and talks of a cinematic adaption of Feeding the Dragon are underway), this book has broad appeal. It is a gripping page-turner, a glimpse into the regulatory complexity of the Chinese entertainment market, and an introduction into what Fenton calls “film diplomacy.” Punctuated by succinct chapters, the book is an easy read, mixing a compelling story with rich insights.Like the blockbuster movies Fenton produces (and talks of a cinematic adaption are underway), Feeding the Dragon has broad appeal. It is a gripping page-turner, a glimpse into the regulatory complexity of the Chinese entertainment market, and an introduction into what Fenton calls “film diplomacy.” Punctuated by succinct chapters, the book is an easy read, mixing a compelling story with rich insights.Nick Pozek is Assistant Director of the Parker School of Foreign and Comparative Law at Columbia University and a host of New Books in Law. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Gene Ludwig cares. The former banker, government regulator, and serial entrepreneur cares deeply about the hollowing out of the American middle class over the past several decades, not least of all in his hometown of York, PA. So he gathered the country's best and brightest in 2019 for a conference at Yale Law School to come up with specific policy proposals that can reverse that process.The details of what has happened make for difficult but necessary reading. In The Vanishing American Dream: A Frank Look at the Economic Realities Facing Middle- and Lower-Income Americans (Disruption Books) the policy proposals to rebuild the middle class are divided into those at the federal level, and those at the local level.Many readers will find the former typical and expected, but the latter constitute the most engaging part of the book. Both sorts of policies will be hard to implement given the country's current state of division, but Ludwig does not back down from the challenge.Gene Ludwig is the founder of the Promontory family of companies and Canapi LLC, the largest financial technology venture fund in the United States. He is the CEO of Promontory Financial Group, an IBM company, and chairman of Promontory MortgagePath, a technology-based, mortgage fulfillment and solutions company.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 @HistoryInvestor or at http://www.strategicdividendinvestor.com  Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Karl Gerth’s new book, Unending Capitalism: How Consumerism Negated China's Communist Revolution (Cambridge University Press, 2020) details how the state created brands, promoted and advertised particular products, set up department stores, and facilitated the promotion of certain luxury consumer products (notably wristwatches, bicycles, and sewing machines)—all in the Mao era. Though not typically considered to be a period of Chinese history driven by consumerism, Gerth’s beautifully researched book shows how, in the early People’s Republic, the Communist Party expanded consumerism and built ‘state capitalism’, and the ferocity of consumer impulses and behaviors that followed.Challenging, provocative, and precisely written, Unending Capitalism is sure to appeal to anyone interested in modern Chinese history and histories of capitalism, as well as any readers looking for a book that uses some really fascinating sources to complicate the dominant narrative of China’s ‘socialist’ history.Sarah Bramao-Ramos is a PhD candidate at Harvard University. She works on Manchu language books and book history and loves anything with a good kesike in it. She can be reached at sbramaoramos@g.harvard.edu   Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How does any organization invite the true, full participation of its members? In his new book The 4 Stages of Psychological Safety: Defining the Path to Inclusion and Innovation (Berrett-Koehler, 2020), Timothy Clark explains.Clark is the founder and CEO of LeaderFactor, and ranks as a global authority on senior executive development, strategy acceleration and organizational change. He’s the author of five book, and over 150 articles. Clark earned a doctorate degree in Social Science from Oxford University.Topics covered in this episode include: Why showing respect and granting permission are the keys to unlocking potential. What lies beneath stunning statics like, only 36% of business professional believe their companies foster an inclusive culture, and only one-third of workers believe their opinions count; whereas, 50% of workers report being treated rudely at work at least once a week. How a leader’s “tell-to-ask” ratio relates to whether that person suffers from the narcissism that limits the effectiveness of so many leaders Dan Hill, PhD, is the author of eight books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). To check out his “Faces of the Week” 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

Dr. Shahrukh Khan's new textbook Development Economics: A Critical Introduction (Routledge, 2019) is a fantastic book for teachers and students trying to get into the field of development economics. Covering all the major topic in the field such as foreign direct investment, foreign aid, institutions and good governance, data collection, and heterodox approaches the book immerses the reader into fundamental questions of development and underdevelopment.What sets this work apart is both the centrality it places on covering all of the diversity in the field of development economics. From neo-Marxists to neo-liberals and everything in between, the book honors and critiques the value of each approach to understanding development. The book is easily read, engaging, and perfect for anyone looking to teach an intro to development class. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Today's guest is Christopher Robertson, Associate Dean for Research and Innovation and Professor of Law at the University of Arizona. His background and research interests overlap several academic disciplines, including bioethics, health law, incentives, behavioral economics and more. His CV includes a PhD in philosophy and a law degree from Harvard.His newest book is Exposed: Why Our Health Insurance is Incomplete and What can be Done About (Harvard University Press, 2019).Colin Miller and Dr. Keith Mankin host the popular medical podcast, PeerSpectrum. Colin works in the medical device space and Keith is a retired pediatric orthopedic surgeon. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

I spoke with Prof. Christopher Marquis, Samuel C. Johnson Professor in Global Sustainable Enterprise and Professor of Management at Cornell University. His latest research book tells the story of an ambitious certification programme that aims to signal to customers and shareholders those small and large corporations that are responsible and caring with their workers, customers, with the planet and the local communities where they operate.Businesses have a big role to play in a capitalist society. They can tip the scales toward the benefit of the few, with toxic side effects for all, or they can guide us toward better, more equitable long-term solutions.In Better Business: How the B Corp Movement Is Remaking Capitalism (Yale UP, 2020), Marquis tells the story of the rise of a new corporate form—the B Corporation. Founded by a group of friends who met at Stanford, these companies undergo a rigorous certification process, overseen by the B Lab, and commit to putting social benefits, the rights of workers, community impact, and environmental stewardship on equal footing with financial shareholders.In our conversation Christopher mentioned the origin of the book and why he believes in the work done by B Lab. The book is divided into 11 chapter and is full of interesting practical examples. In the talk we also mentioned the notion of ‘benefit corporation’, in the US and elsewhere.I have asked the author why we should trust the founders of the B Movement and their certification programme. He answered with some examples and convincing arguments. We then focused on chapter 1, ‘Interdependencies not Externalities’, chapter 6, ‘Employees as the Heart of the Company’, chapter 10, ‘Big Isn’t Always Bad’, and eventually chapter 11, ‘Convincing Consumers to Care’. We concluded with his plans for the next book.Informed by over a decade of research and animated by interviews with the movement’s founders and leading figures, Marquis’s book explores the rapid growth of companies choosing to certify as B Corps, both in the United States and internationally, and explains why the future of B Corporations is vital for us all.Andrea Bernardi is Senior Lecturer in Employment and Organization Studies at Oxford Brookes University in the UK. He holds a doctorate in Organization Theory from the University of Milan, Bicocca. He has held teaching and research positions in Italy, China and the UK. Among his research interests are the use of history in management studies, the co-operative sector, and Chinese co-operatives. His latest project is looking at health care in China. He is the co-convener of the EAEPE’s permanent track on Co-operative economy and collective ownership. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Merchants of Medicine: The Commerce and Coercion of Health in Britain’s Long Eighteenth Century (The University of Chicago Press), medicines embody the hopes of those who prepared, sold, and ingested them.By investigating the different contexts and practices associated with the British long-distance trade in patent medicines, Zachary Dorner unravels the intertwined history of financial markets, health concerns, and colonial warfare. He argues that from the late seventeenth-century, medicines were produced, distributed, and consumed in new ways, providing solutions to the problems of labor shortages in the armed forces, trading companies and plantations, while also informing the categories of difference that organized such institutions.Zachary Dorner is the Patrick Henry Postdoctoral Fellow in history at Johns Hopkins University. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Is there a consensus on the best response to global warming? Not even close. Left and right both bring their own tools, math, and, most notably, agendas--climate related and non-climate related--to their policy prescriptions.Economist Robert Pollin has teamed up with Noam Chomsky to produce a manifesto for the New Green Deal in Climate Crisis and the Global Green New Deal: The Political Economy of Saving the Planet (Verso). Their plan attempts to keep the planet from heating up too much while simultaneously redressing the economic wrongs that they blame substantially on unfettered capitalism.Not everyone will agree that eco-socialism is the answer to global warming, but all participants in the debate will want to understand the wide range of policy proposals that are being brought to the table.Noam Chomsky is Institute Professor Emeritus at the Massachusetts Institute of Technology and Laureate Professor at the University of Arizona.Robert Pollin is Professor of Economics and founding Co-Director of the Political Economy Research Institute (PERI) at the University of Massachusetts-Amherst.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 @HistoryInvestor or at http://www.strategicdividendinvestor.com Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In 2007, Ecuador joined the Latin American “Pink Tide” by electing a left-wing president, Rafael Correa, who voiced opposition to US imperialism and advocated higher levels of redistribution and social investment. However, shortly after coming to power, Correa came into conflict with members of his own coalition over the future of resource extraction in the country. Should Ecuador try to leverage its mineral wealth and oil fields to promote social welfare and human development, or should the country abandon the extractive model altogether because of its human and environmental costs?Resource Radicals: From Petro-Nationalism to Post-Extractivism in Ecuador (Duke UP, 2020) examines the deeper questions for democratic theory at stake in conflicts over resource extraction. Who are “the people” that have the authority to make decisions about whether the benefits of mining projects exceed the costs, the mining communities or the nation as a whole? How much authority should democratic governments delegate to experts to make decisions with enormous economic and environmental consequences for large groups of people? Using ethnographic and archival methods, Thea Riofrancos delves into the contentious politics of resource extraction, and in the process provides a new perspective on the “resource curse” literature in political science and economics. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics