New Books in Economics

A clear-eyed examination of the open access movement: past history, current conflicts, and future possibilities. Open access (OA) could one day put the sum of human knowledge at our fingertips. But the goal of allowing everyone to read everything faces fierce resistance.In Athena Unbound: Why and How Scholarly Knowledge Should Be Free for All (MIT Press, 2023), Peter Baldwin offers an up-to-date look at the ideals and history behind OA, and unpacks the controversies that arise when the dream of limitless information slams into entrenched interests in favor of the status quo. In addition to providing a clear analysis of the debates, Baldwin focuses on thorny issues such as copyright and ways to pay for “free” knowledge. He also provides a roadmap that would make OA economically viable and, as a result, advance one of humanity’s age-old ambitions. Baldwin addresses the arguments in terms of disseminating scientific research, the history of intellectual property and copyright, and the development of the university and research establishment. As he notes, the hard sciences have already created a funding model that increasingly provides open access, but at the cost of crowding out the humanities. Baldwin proposes a new system that would shift costs from consumers to producers and free scholarly knowledge from the paywalls and institutional barriers that keep it from much of the world. Rich in detail and free of jargon, Athena Unbound is an essential primer on the state of the global open access movement.Peter Baldwin is Professor of History at UCLA, and Global Distinguished Professor at NYU.Caleb Zakarin is the Assistant Editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Scarcity: A History from the Origins of Capitalism to the Climate Crisis (Harvard UP, 2023) is a sweeping intellectual history of the concept of economic scarcity—its development across five hundred years of European thought and its decisive role in fostering the climate crisis.Modern economics presumes a particular view of scarcity, in which human beings are innately possessed of infinite desires and society must therefore facilitate endless growth and consumption irrespective of nature’s limits. Yet as Fredrik Albritton Jonsson and Carl Wennerlind show, this vision of scarcity is historically novel and was not inevitable even in the age of capitalism. Rather, it reflects the costly triumph of infinite-growth ideologies across centuries of European economic thought—at the expense of traditions that sought to live within nature’s constraints.The dominant conception of scarcity today holds that, rather than master our desires, humans must master nature to meet those desires. Albritton Jonsson and Wennerlind argue that this idea was developed by thinkers such as Francis Bacon, Samuel Hartlib, Alfred Marshall, and Paul Samuelson, who laid the groundwork for today’s hegemonic politics of growth. Yet proponents of infinite growth have long faced resistance from agrarian radicals, romantic poets, revolutionary socialists, ecofeminists, and others. These critics—including the likes of Gerrard Winstanley, Dorothy Wordsworth, Karl Marx, and Hannah Arendt—embraced conceptions of scarcity in which our desires, rather than nature, must be mastered to achieve the social good. In so doing, they dramatically reenvisioned how humans might interact with both nature and the economy.Following these conflicts into the twenty-first century, Albritton Jonsson and Wennerlind insist that we need new, sustainable models of economic thinking to address the climate crisis. Scarcity is not only a critique of infinite growth, but also a timely invitation to imagine alternative ways of flourishing on Earth.Fredrik Albritton Jonsson is the Associate Professor of British History at the University of Chicago. His current research deals with a set of closely related themes in environmental history, history of science, and political economy. Carl Wennerlind is the Professor of History and Chair at Barnard College, Columbia University. He specializes in the history of early modern Europe, with a focus on intellectual history and political economy. He is particularly interested in the historical development of ideas about money and credit; ideas on the relationship between economy and nature; and ideas about "improvement" and "modernization."Thomas Edward Kingston is a Berkeley Fellow in South and Southeast Asian Studies and PhD Student with a designated emphasis in Political Economy at the University of California, Berkeley Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The future of work is at the centre of debates related to the emerging digital society. Concerns range from the inclusion, equity, and dignity of those at the far end of the value chain, who participate on and off platforms, often in the shadows, invisible to policymakers, designers, and consumers. Precarity and informality characterize this largely female workforce, across sectors ranging from artisanal work to salon services to ride-hailing and construction. A feminist reimagining of the futures of work - what we term “FemWork” - is the need of the day and should manifest in multiple and various forms, placing the worker at the core and drawing on her experiences, aspirations, and realities. Payal Arora, Usha Raman, and René König's book Feminist Futures of Work: Reimagining Labour in the Digital Economy (Amsterdam UP, 2023) offers grounded insights from academic, activist, legal, development and design perspectives that can help us think through these inclusive futures and possibly create digital, social, and governance infrastructures of work that are fairer and more meaningful.The book is published open access and can be downloaded from here.Rituparna Patgiri is an Assistant Professor of Sociology at Indraprastha College for Women, University of Delhi. She has a PhD in Sociology from Jawaharlal Nehru University (JNU), New Delhi. Her research interests lie in the areas of food, media, gender and public. She is also one of the co-founders of Doing Sociology. Patgiri can be reached at @Rituparna37 on Twitter. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The videogame industry, we're invariably told, is a multibillion-dollar, high-tech business conducted by large corporations in certain North American, European, and East Asian cities. But most videogames today, in fact, are made by small clusters of people working on shoestring budgets, relying on existing, freely available software platforms, and hoping, often in vain, to rise to stardom—in short, people working like artists. Aiming squarely at this disconnect between perception and reality, Brendan Keogh's book The Videogame Industry Does Not Exist: Why We Should Think Beyond Commercial Game Production (MIT Press, 2023) presents a much more accurate and nuanced picture of how the vast majority of videogame-makers work—a picture that reveals the diverse and precarious communities, identities, and approaches that make videogame production a significant cultural practice. Drawing on insights provided by over 400 game developers across Australia, North America, Europe, and Southeast Asia, Keogh develops a new framework for understanding videogame production as a cultural field in all its complexity. Part-time hobbyists, aspirational students, client-facing contractors, struggling independents, artist collectives, and tightly knit local scenes—all have a place within this model. But proponents of non-commercial game making don't exist in isolation; Keogh shows how they and their commercial counterparts are deeply interconnected and codependent in the field of videogame production. A cultural intervention, The Videogame Industry Does Not Exist challenges core assumptions about videogame production—ideas about creativity, professionalism, labor, diversity, education, globalization, and community. Its in-depth, complex portrayal suggests new ways of seeing, and engaging in, the videogame industry that really does exist.Rudolf Inderst is a professor of Game Design with a focus on Digital Game Studies at the IU International University of Applied Science, editor of “Game Studies Watchlist”, a weekly messenger newsletter about Game Culture and curator of @gamestudies at tiktok. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In the nineteenth century, most American farms had a small orchard or at least a few fruit-bearing trees. People grew their own apple trees or purchased apples grown within a few hundred miles of their homes. Nowadays, in contrast, Americans buy mass-produced fruit in supermarkets, and roughly 70 percent of apples come from Washington State. So how did Washington become the leading producer of America’s most popular fruit? In The Washington Apple: Orchards and the Development of Industrial Agriculture (The University of Oklahoma Press, 2022), Amanda L. Van Lanen offers a comprehensive response to this question by tracing the origins, evolution, and environmental consequences of the state’s apple industry.Washington’s success in producing apples was not a happy accident of nature, according to Van Lanen. Apples are not native to Washington, any more than potatoes are to Idaho or peaches to Georgia. In fact, Washington apple farmers were late to the game, lagging their eastern competitors. The author outlines the numerous challenges early Washington entrepreneurs faced in such areas as irrigation, transportation, and labor. Eventually, with crucial help from railroads, Washington farmers transformed themselves into “growers” by embracing new technologies and marketing strategies. By the 1920s, the state’s growers managed not only to innovate the industry but to dominate it.Industrial agriculture has its fair share of problems involving the environment, consumers, and growers themselves. In the quest to create the perfect apple, early growers did not question the long-term environmental effects of chemical sprays. Since the late twentieth century, consumers have increasingly questioned the environmental safety of industrial apple production. Today, as this book reveals, the apple industry continues to evolve in response to shifting consumer demands and accelerating climate change. Yet, through it all, the Washington apple maintains its iconic status as Washington’s most valuable agricultural crop.Amanda L. Van Lanen, PhD is a Professor of History at Lewis-Clark State College.Troy A. Hallsell, PhD is the 341st Missile Wing Historian at Malmstrom AFB, Montana. The ideas expressed in this podcast do not represent the 341st Missile Wing, the United States Air Force, or the Department of Defense. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The eighteenth-century Bank of England was an institution that operated for the benefit of its shareholders--and yet came to be considered, as Adam Smith described it, "a great engine of state." In Virtuous Bankers: A Day in the Life of the Eighteenth-Century Bank of England (Princeton UP, 2023), Anne Murphy explores how this private organization became the guardian of the public credit upon which Britain's economic and geopolitical power was based. Drawing on the voluminous and detailed minute books of a Committee of Inspection that examined the Bank's workings in 1783-84, Murphy frames her account as "a day in the life" of the Bank of England, looking at a day's worth of banking activities that ranged from the issuing of bank notes to the management of public funds.Murphy discusses the bank as a domestic environment, a working environment, and a space to be protected against theft, fire, and revolt. She offers new insights into the skills of the Bank's clerks and the ways in which their work was organized, and she positions the Bank as part of the physical and cultural landscape of the City: an aggressive property developer, a vulnerable institution seeking to secure its buildings, and an enterprise necessarily accessible to the public. She considers the aesthetics of its headquarters--one of London's finest buildings--and the messages of creditworthiness embedded in that architecture and in the very visible actions of the Bank's clerks. Murphy's uniquely intimate account shows how the eighteenth-century Bank was able to deliver a set of services that were essential to the state and commanded the confidence of the public.Anne L. Murphy is Professor of History and Executive Dean of the Faculty of Humanities and Social Sciences. She joined the University of Portsmouth in March 2021. Prior to this she worked at the University of Hertfordshire and the University of Exeter.  Previously she spent twelve years working in the City trading interest rate and foreign exchange derivatives.Her research focuses on early modern financial markets and publications include articles in Past and Present, Economic History Review, History, Financial History Review and Women's History Review. Her previous monographs are The Origins of English Financial Markets: investment and speculation before the South Sea Bubble (2010) and  The Worlds of the Jeake Family of Rye, 1640-1736 (2018).References: -Previous NBN podcasts on money, namely Lawrence H. White and Dror Goldberg. -Books by Amy Froide's Silent Partners: Women as Public Investors during Britain's Financial Revolution, 1690-1750 and Daniel Abramson's Building the Bank of England: Money, Architecture, Society 1694-1942. Bernardo Batiz-Lazo is currently straddling between Newcastle and Mexico City. You can find him on twitter on issues related to business history of banking, fintech, payments and other musings. Not always in that order. @BatizLazo Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

What does data science tell us about art auctions? This episode is syndicated from the new Harvard Data Science Review Podcast. Published by the MIT Press, Harvard Data Science Review is an open access multidisciplinary journal that defines and shapes data science as a scientifically rigorous field based on the principled and purposed production, processing, parsing and analysis of data.In this episode, the journal’s Features Editor Liberty Vittert and Editor in Chief Xiao-Li Meng discuss art auctions with art curator Dan Cameron and Artnome’s Jason Bailey.If you enjoy this preview of the Harvard Data Science Review podcast, find the journal on twitter at @TheHDSR and remember to subscribe to their podcast on your favorite platform. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How common is financial malpractice in big, well known financial companies? Is it so common that it should really be seen as a business model more than an occasional aberration by rogue traders? These are questions posed by Ronen Palan and Anastasia Nesvetailova in their book Sabotage: The Business of Finance (PublicAffairs, 2020). Listen to Owen Bennett-Jones discuss the future of big finance with Anastasia Nesvetailova.Owen Bennett-Jones is a freelance journalist and writer. A former BBC correspondent and presenter he has been a resident foreign correspondent in Bucharest, Geneva, Islamabad, Hanoi and Beirut. He is recently wrote a history of the Bhutto dynasty which was published by Yale University Press. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Charles Kindleberger ranks as one of the twentieth century's best known and most influential international economists. This book traces the evolution of his thinking in the context of a 'key-currency' approach to the rise of the dollar system, here revealed as the indispensable framework for global economic development since World War II. Unlike most of his colleagues, Kindleberger was deeply interested in history, and his economics brimmed with real people and institutional details. His research at the New York Fed and BIS during the Great Depression, his wartime intelligence work, and his role in administering the Marshall Plan gave him deep insight into how the international financial system really operated. A biography of both the dollar and a man, Money and Empire (Cambridge University Press, 2022) also the story of the development of ideas about how money works. It throws revealing light on the underlying economic forces and political obstacles shaping our globalized world.Perry Mehrling is Professor of International Political Economy at Boston University.Caleb Zakarin is the Assistant Editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Does a strong state mean a weak market? This is a common misconception amongst economists. Many view the state as either taxing and regulating the market too much or too little. However, the truth is that state capacity is just not well conceptualized in economic theory.James A. Robinson is a political scientist, economist, and professor at the University of Chicago. His recent book, co-authored with Daron Acemoglu, The Narrow Corridor: States, Societies, and the Fate of Liberty, explores the critical balance needed between state and society and how liberty can continue to thrive despite threats from both sides.James and Greg explore the correlation between inclusive political institutions and economic growth and prosperity and why the absence of state capacity in developing nations is a major contributing factor to their economic struggles. This highlights the necessity for a genuine debate on whether strong governments and effective state institutions facilitate or stifle independence and innovation.Gregory LaBlanc is a lifelong educator with degrees in History, PPE, Business, and Law, Greg currently teaches at Berkeley, Stanford, and HEC Paris. He has taught in multiple disciplines, from Engineering to Economics, from Biology to Business, from Psychology to Philosophy. He is the host of the unSILOed podcast. unSILOed is produced by University FM. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics