New Books in Economics

We spoke with the author Aleksandr V. Gevorkyan. His book Transition Economies: Transformation, Development, and Society in Eastern Europe and the Former Soviet Union (Routledge, 2018) is a very interesting contribution to the understanding of Soviet economies and their transition, or transformation, as Aleksandr argues. In his book he also discusses the aspect of human transition. I started our conversation asking ‘transition towards what?’ Towards western market economies? Is the field of transition economics affected by the emergence of the successful Chinese model? We briefly discussed the variety of models among the soviet and eastern European nations and how differently they completed their transition.His interdisciplinary study offers a comprehensive analysis of the transition economies of Central and Eastern Europe and the former Soviet Union. Providing full historical context and drawing on a wide range of literature, this book explores the continuous economic and social transformation of the post-socialist world. While the future is yet to be determined, understanding the present phase of transformation is critical. The book’s core exploration evolves along three pivots of competitive economic structure, institutional change, and social welfare. The main elements include analysis of the emergence of the socialist economic model; its adaptations through the twentieth century; discussion of the 1990s market transition reforms; post-2008 crisis development; and the social and economic diversity in the region today. With an appreciation for country specifics, the book also considers the urgent problems of social policy, poverty, income inequality, and labor migration.Gevorkyan believes that the transformational experience of the “transition” economies must be studied objectively and needs to be more fully integrated within the broader field of economic development. It cannot be reduced to examples of economic models, which is the tendency in literature, but needs to be viewed in its historical continuity with many implications on social evolution.This excellent book is an important tool for graduate students, scholars and policy makers.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 rural China. He is the co-convener of the EAEPE’s permanent track on Critical Management Studies. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

McKenzie Wark’s new book offers 21 focused studies of thinkers working in a wide range of fields who are worth your attention. The chapters of General Intellects: Twenty-One Thinkers for the Twenty-First Century (Verso, 2017) introduce readers to important work in Anglophone cultural studies, psychoanalysis, political theory, media theory, speculative realism, science studies, Italian and French workerist and autonomist thought, two “imaginative readings of Marx,” and two “unique takes on the body politic.” There are significant implications of these ideas for how we live and work at the contemporary university, and we discussed some of those in our conversation. This is a great book to read and to teach with! Carla Nappi is the Andrew W. Mellon Chair in the Department of History at the University of Pittsburgh. You can learn more about her and her work here. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Few who have visited India in the past two decades will have failed to noticed the sudden and spectacular urban transformation that has taken place in many of its cities. Gated residential complexes with tennis courts and indoor gyms, glitzy office buildings, gleaming five-star hotels, and of course air-conditioned malls have become ubiquitous as the new face of a “new” India, often understood as symbols of a long-awaited global modernity. Getting behind the glittery facade, Llerena Searle’s new book Landscapes of Accumulation: Real Estate and the Neoliberal Imagination in Contemporary India (University of Chicago Press, 2015) shows that these buildings are not built to service consumer India; they are built for real estate developers and international investors for whom Indian real estate has become a profitable speculative gamble. Indian land and buildings are no longer local resources for production or use; they are turning, or more accurately being turned, into internationally tradeable financial assets. How this happens, by whose effort, and against what frictions is the story that the book tells. Searle shows that it is through the narrative of a rising Indian middle class that investments are solicited and a real estate boom created. Through ethnographic attention to the practices and labors of real estate producers, Searle offers an innovative, sophisticated and refreshingly human story of the making of neoliberal India, a story has ultimately shows that the new landscapes that are cropping up all over India are landscapes first and foremost of accumulation. This book will be of interest to readers in urban studies, economics, anthropology, and of course South Asian Studies. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Is microfinance the magic bullet that will end global poverty or is it yet another a form of predatory lending to the poor? In her new book Financializing Poverty: Labor and Risk in Indian Microfinance (Stanford University Press, 2018), Sohini Kar brings ethnography to bear on this urgent question. Drawing on fieldwork with a for-profit microfinance institution (MFI) and its intended beneficiaries in the Indian city of Kolkata, the book brings into view the perils of “financial inclusion” for the poor. Kar argues that new streams of credit are increasingly used to capitalize on poverty rather than to challenge it. Richly peopled, the book evinces a deep commitment to understanding economic life as it is lived and experienced by everyday people rather than through abstract models. We meet founders of MFIs remaking themselves with narratives of social business, loan officers trying to balance the performance of care with pressures of debt-recovery, poor women taking out consumption loans and striving for middle-class identities, and debt-ridden borrowers struggling to manage the costs of living and the pressures of repayment. The experiences of this cast of characters are framed within the larger histories of debt and power in Kolkata, in West Bengal, and in India more broadly. Financializing Poverty combines theoretical sophistication with clear and engaging prose to shed light on the ways in which profit is made off of poverty. The book will be of interest to readers in the fields of anthropology, economics, and development studies, as well as readers interested in South Asia and global poverty.Aparna Gopalan is a Ph.D. student in Social Anthropology at Harvard. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Patent Politics: Life Forms, Markets, and the Public Interest in the United States and Europe (University of Chicago Press, 2017), Shobita Parthasarathy takes us through a thirty year history of the legal debates around patents. This is an understudied area of STS that Parthasarathy carefully navigates in order to understand how knowledge production interacts with law. The reader learns the differences in values, law and objects between US and European patent politics. This comparison brings into focus the role that law, biotechnology corporations, scientists, activists, and more play in deciding what knowledge deserves legal protection. Patent Politics is a fascinating read that will continue to be relevant for many years to come. Chad J. Valasek is a Ph.D. Candidate in Sociology & Science Studies at the University of California, San Diego. His research interests include the history of the human sciences, the influence of the behavioral sciences on medical practice and health policy, and political activism around science and the arts. You can follow him on Twitter @chadjvalasek. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Why is housing so expensive in so many cities, and what can be done about it? Join us as we speak with long-time San Francisco housing activist Randy Shaw about his book Generation Priced Out: Who Gets to Live in the New Urban America? (University of California Press, 2018). In it, he lays out the causes and consequences of the affordability crisis in San Francisco, Oakland, LA, Austin, New York, Denver, Seattle, and elsewhere. Stephen Pimpare is Senior Lecturer in the Politics & Society Program and Faculty Fellow at the Carsey School of Public Policy at the University of New Hampshire. He is the author of The New Victorians (New Press, 2004), A Peoples History of Poverty in America (New Press, 2008), winner of the Michael Harrington Award, and Ghettos, Tramps and Welfare Queens: Down and Out on the Silver Screen (Oxford, 2017). Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Pretty much everyone knows that the American healthcare system is, well, very inefficient. We don’t, so critics say, get as much healthcare bang for our buck as we should. According to Bryan Caplan, however, the American educational system–higher education in particular–is much, much worse. In The Case against Education: Why the Education System Is a Waste of Time and Money (Princeton University Press, 2018), Caplan argues that we are quite literally paying a fortune and getting almost nothing of any collective value. Pretty much all the news in this book is bad. Students spend a ton on secondary ed, but they don’t learn many marketable skills. In fact, the don’t learn much at all: they forget almost everything they learn in college quite quickly. Taxpayers heavily subsidize this “learning” experience, but the social payoff is dramatically less than the investment. College is a good deal for good students, but it’s a very bad deal for the many poor students who don’t finish and have thus wasted their savings and several years of their lives–years they could have been working and accumulating money instead of throwing it away. College doesn’t make us culturally or ethically better people by almost any definition of “better.” Interestingly, despite what conservative pundits say, it doesn’t even change our political views: even though the vast majority of professors are liberal, and their courses perhaps have a liberal slant, students come out of college  with the same political attitudes they brought to it. What does college do for students? According to Caplan’s compelling argument, it signals to employers that they are conscientious and hard working enough to (you guessed it) finish college and, by inference, work an ordinary job. That, he says, is a very costly signal. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In the era of #MeToo, Brett Kavanaugh, and Donald Trump, masculinity and the harmful effects that follow certain versions of masculinity have become national conversations. Now, like many other times throughout American history, people are asking “what’s wrong with men?” Some men, however, are not widely talked about. In his new book Man Out: Men on the Sidelines of American Life (Brookings Institution Press, 2018), Dr. Andrew Yarrow investigates these “lost men”: those who have left the workforce, isolate themselves, and ultimately become angry. While most would immediately think of the out-of-work coal miner in middle America, Yarrow explains that the population of men who find themselves “out” cut across most demographics. Are these men forced out by larger economic forces? Is something happening culturally that is leading to their isolation? Yarrow tackles these questions and more, along with how we can possibly bring these men “back in.” Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The vast chasm between classical economics and the humanities is widely known and accepted. They are profoundly different disciplines with little to say to one another. Such is the accepted wisdom. Fortunately, Professors Gary Saul Morson and Morton Schapiro, both of Northwestern University, disagree.  In their new book, Cents and Sensibility: What Economics Can Learn from the Humanities (Princeton University Press, 2017), they argue that the mathematically rigid world of classical economics actually has a lot to learn from the world of great literature. Specifically, they argue that “original passions” (the term is from an overlooked work of Adam Smith) in the form of culture, story telling, and addressing ethical questions are found in great works of literature, but lacking in modern economic theory. Good judgment, they write, “cannot be reduced to any theory or set of rules.” Along the way, they weave together Adam Smith, Lev Tolstoy, Jared Diamond, college admissions practices, the US News and World Report rankings, and the family.  This is an ambitious and original work. Many will disagree with it, but few will be able to put it down. 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 @Back2BizBook 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

The familiar narrative of American business development begins in the industrial North, where paternalistic factory owners, committed to a kind of Protestant ethic, scaled up their operations into ‘total institutions’—an effort to forestall labor turnover by providing housing and fulfilling community needs. Many of these firms were, of course, dependent on the availability of cotton from the South where, as Caitlin C. Rosenthal argues, modern management practices were expanded and refined through experimentation with enslaved workers. Accounting for Slavery: Masters and Management (Harvard University Press, 2018) resituates the development of scientific record-keeping and labor optimization practices within the Atlantic slave trade. The book pays close attention to how sophisticated reporting practices, emerging from the standard record books that circulated throughout the Atlantic world, allowed planters to rate and categorize enslaved people in a generalizable way. The book is an invitation to rethink the genealogy of business management, to disabuse professionals of a claim to moral distance from a time when unfettered legal control over a labor force—as capital—created hitherto unknown opportunities for knowledge production and experimentation with efficiency. Mikey McGovern is a PhD candidate in Princeton University’s Program in the History of Science. He works on computing, quantification, communication, and governance in modern America. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics