New Books in Economics

In No Such Thing as a Free Gift: The Gates Foundation and the Price of Philanthropy (Verso Books, 2015), Linsey McGoey proposes a new way of discussing philanthropy and, in doing so, revives associated historical debates often overlooked at present: from the ethics of clinical trials to industrial labor organizing in the early 20th century to global financial regulation. Tracing theological and industrial origins, among others, of what is now the field of philanthropy, Dr. McGoey asks how these institutions fit into the larger global economy. More broadly, McGoey suggests that capitalism has become the bedrock of many philanthropic social change efforts, reflected in the terms philanthrocapitalism, impact investment, and social enterprise among others. What, then, are the most appropriate questions to ask about regulation, morality, well-being, accountability, and profitability? No Such Thing As A Free Gift starts by examining the industry in the language of monopolies, investments, regulation, taxes, and democratic participation. Political philosophy and economic justice bookend several of the book’s core arguments, aiming to revisit earlier debates on the relationship between private wealth and the public good, often insisting that these questions are not only relevant to the current philanthropic landscape, but dictate it. While the Bill and Melinda Gates Foundation is the unapologetic focus of the book, its chapters frame an important set of questions about the role of transnational, largely undemocratic institutions, in local and global policy-making. Anna Levy is an independent researcher and policy analyst with interests in critical political economy, historical memory, histories and philosophies of normalization, accountability politics, science & technology, and structural inequality. She is based in Brooklyn, NY and Amman, Jordan. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Lawrence Jacobs and Desmond King are the authors of Fed Power: How Finance Wins (Oxford UP, 2016). Jacobs is the Walter F. and Joan Mondale Chair for Political Studies and Director of the Center for the Study of Politics and Government in the Hubert H. Humphrey School and the Department of Political Science at the University of Minnesota. King is the Andrew W. Mellon Professor of American Government at the University of Oxford and Professorial Fellow, Nuffield College, Oxford. Lawrence Jacobs and Desmond King’s Fed Power follows the Federal Reserve Banks historic development from the 19th century to its current position as the most important institution in the American economy, possessing considerable autonomy to intervene in private markets. Despite its power and considerable resources, Jacobs and King claim that the Fed was asleep at the wheel when the recent economic crisis hit. The Fed acted swiftly to contain the crisis, but in the process exposed its strong favoritism. The authors dissect how the Fed’s programs during the Great Recession funneled enormous sums to a select few in the finance industry while leaving Main Street businesses adrift and millions of homeowners underwater. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Labour consciousness is not just class-based; it also emerges out of cultural identities, as Tran Ngoc Angie argues powerfully in Ties that Bind: Cultural Identity, Class, and Law in Vietnam’s Labor Resistance (Cornell University Press, 2013). Vietnamese workers habitually form relationships based on native place, ethnicity, religion and gender. At critical class moments, as Tran calls them, these workers can also succeed in transcending or building on their cultural ties to form larger movements for labour rights. Through detailed study of 33 cases from French colonial Indochina to present day Vietnam, Tran tracks labour activism across a range of political and economic conditions, industries and sectors. Concentrating on the period since economic reform and liberalization from 1986 to the present, she compares worker agency in state-owned and equitized factories, factories with foreign-direct investment and domestic privately owned factories, to arrive at findings that speak to conditions not only in Vietnam today, but also to the lives and struggles of workers across much of Southeast and East Asia. Angie Tran joins New Books in Southeast Asian Studies to talk about trends in labour unrest in Vietnam, the importance of legal claims to workers rights, cicada factories, and time taken to read graffiti on toilet walls. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Jefferson Cowie is the James G. Stahlman professor of history at Vanderbilt University. His book The Great Exception: The New Deal and the Limits of American Politics (Princeton University Press, 2016) interprets the New Deal as a massive but unstable experiment from the main of American political culture. Against arguments that the New Deal was the product of the American penchant for reform, Cowie asserts that it was a remarkable historical detour. The Great Depression and WWII were specific historical circumstances that wrought a short-lived effort for central government intervention in securing collective economic rights. Unions flourished, industrial workers gained job security and good wages, and the country enjoyed a relative amount of political cohesion. Multiple legislative measures and the growth of unions offered a countervailing power against corporate wealth accumulation and promised a bright economic future. Several enduring fissures in political culture would all but undo the New Deal after the 1970s. The long tensions over immigration, religious and racial hostility, the frailty of unions, and the ideology of Jeffersonian individualism remained and assured that the new interventionist role for the state would not last. By examining the birth of New Deal and its decline, Cowie locates a legacy of individual rights that stood against its long-term viability. As the central government has continued to expand under free market ideology, collective initiatives are being led at the local and state level by a cross-class neo-progressivism organizing labor and advocating for immigrants and other minorities. While the New Deal gave way to free market ideology, the future may lie in a new imaginary rising from below. Lilian Calles Barger, www.lilianbarger.com, is a cultural, intellectual and gender historian. Her current book project is entitled The World Come of Age: Religion, Intellectuals and the Challenge of Human Liberation.   Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

A village terrorized by a man eating tiger and a state struggling to implement possibly the largest social security program in the world coalesce in this wonderful ethnography of bureaucracy by Nayanika Mathur. Paper Tiger: Law, Bureaucracy and the Developmental State in Himalayan India (Cambridge University Press, 2015) is a detailed account of paper that reveals the unintended consequences of reforms, the problems with implementing new programs and the inability of state officials to act when faced with crises. Rich, lively, and theoretically compelling Paper Tiger pushes us to rethink how the state operates in India and beyond. Ian M. Cook is a social anthropologist whose research focuses on small cities, rhythms and everyday life in south India. His publications can be accessed at ceu.academia.edu/IanCook. He can be reached at ianmickcook@gmail.com. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Heather Boushey has written Finding Time: The Economies of Work-Life Conflict (Harvard University Press, 2016). Boushey is Executive Director and Chief Economist at the Washington Center for Equitable Growth. How should policy-makers respond to the fact that women now make at least a quarter of the earnings in more than two-thirds of families with children and, in many households, women bring in more than half of the earned income? In Finding Time, Boushey offers a round-map for policy-makers to adjust social policy for these positive changes in the economy and U.S. workforce. Paid sick days, paid family and medical leave, scheduling predictability, limiting overwork, and elder care are all options on the agenda that many states and localities have implemented. Boushey argues for a more comprehensive approach to social policy that draws on what has been learned about effective policy making and the reality of the 21st century economy. This podcast was hosted by Heath Brown, Assistant Professor of Public Policy, John Jay College and the Graduate Center at the City University of New York. You can follow him on Twitter @heathbrown. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Adam Kucharski, who won the 2012 Wellcome Trust Science Writing Prize, has delivered another winner in an area rife with both winners and losers. The Perfect Bet: How Science and Math Are Taking the Luck Out of Gambling (Basic Books, 2016) is a brilliant, fascinating, and sometimes slightly terrifying look at how math and science are not just conquering gambling, the algorithms that math has devised and the computerized means of implementing them are paradoxically simultaneously removing risk and creating a lot more of it. Jim Stein is an emeritus professor of mathematics at California State University, Long Beach. As has been noted, the word ’emeritus’ comes from the Latin ‘ex’ — meaning ‘out’ — and ‘meritus’ — meaning ‘ought to be’. Despite that, Jim still teaches a course a semester, either at CSULB or El Camino Community College. He is the author of L.A. Math: Romance, Crime and Mathematics in the City of Angels, Cosmic Numbers: The Numbers That Define the Universe, The Paranormal Equation, How Math Can Save Your Life, The Right Decision, and How Math Can Save the World. He responds to any and all emails addressed to jim.stein@csulb.edu Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The social sciences are about social entities – things like corporations and traffic jams, mobs and money, parents and war criminals. What is a social entity? What makes something a social entity? Traditional views hold that these things can be fully explained by facts about people – their bodies, their attitudes or some combination of these. In The Ant Trap: Rebuilding the Foundations of the Social Sciences (Oxford University Press, 2015), Brian Epstein argues that such views of social facts are untenably anthropocentric: social facts supervene on much more than just people. His model distinguishes two kinds of questions that a theory of social ontology must answer. When are social categories realized, or what grounds a social fact (such as the fact that someone is a war criminal)? And what explains how these categories get established, or what anchors the category? Epstein, an assistant professor of philosophy at Tufts University, also uses his model to provide a new analysis of group action and group intention. On his view, group action is not exhausted by the actions of members, and group intention depends on more than member attitudes. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Christian Olaf Christiansen is an associate professor in the history of ideas at Aarhus University, Denmark. His book Progressive Business: An Intellectual History of the Role of Business in American Society (Oxford University Press, 2015) offers a compelling history of the idea of a gentler capitalism, or of the “soulful” self-regulating corporation, that can flourish economically while doing social good. The idea of “market reformism” against a pure laissez-faire has been an important concept in three distinct periods of U.S. history. In the late nineteenth century, the nation experienced the first economic transformation toward large-scale industrial capitalism engendering “paternalistic market reformism” to alleviate the harshest elements of laissez-faire. The second period of change was the decades of the New Deal in which “political reformism” took hold. Advocates for self-regulation promoted a “managerial market reformism” in which professional managers were to play a key role in negotiating the needs of the corporation and multiple stakeholders. The third period is the most recent era of globalization in which neo-liberal ascendancy was met by a complimentary “entrepreneurial market reformism” in which capitalism is promoted as democratic, cool, revolutionary and egalitarian. All forms of self-regulation, as a third way that rejects both pure capitalism and state intervention, have been met with criticism. Some have held to the idea that the business of business is to maximize shareholder profits, not social engineering. Others advocating for political reform were skeptical of business acting against its own best interest and called for the countervailing power of government. Christiansen has provided a valuable roadmap for understanding the claims of corporate social responsibility in a neoliberal age.   Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Chances are that at this very moment, you are either looking at a computer screen, holding a digital device, or listening to my voice through plastic earphones. Our computers and these other devices are constructed out of materials that have their origins in lands across the globe. And oil plays a central and early role in the causal story of how we came into possession of them. Oil also plays a leading role in the major global conflicts of our day. Much of the world’s oil is sold to us by brutal tyrants who use the monetary proceeds to strengthen their tyranny. But it is arguable that tyrants who control a territory have no legitimate claim to ownership of the territory’s resources; the oil belongs to the people, not to the tyrant. So the oil that goes into creating the objects that we now possess and use is likely stolen. How is it then that your computer, which is made of oil in the form of plastic, is your property? And what can be done about the fact that out ordinary consumption habits so directly place large sums of money into the pockets of the world’s most brutal men? In Blood Oil: Tyranny, Violence, and the Rules that Run the World (Oxford University Press, 2016), Leif Wenar examines the history, sociology, and politics of the global oil trade. Although the reality depicted in the book is bleak and disturbing, Wenar’s message is ultimately uplifting. He argues that, despite all of the prevailing injustices in the world, the tools of radical reform are close at hand. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics