New Books in Economics

Forced labor and human trafficking in fisheries, albeit present in most parts of the world, have gone unnoticed for many years. Fishers at sea are out of sight for a long time, living in difficult and often inhumane conditions.But this problem does not affect just fishers: it is much more layered than we think and can impact most of our lives. How, exactly?Prof. Vasco Becker-Weinberg from the Universidade Nova de Lisboa, Portugal, and author of “Time to Get Serious about Combating Forced Labour and Human Trafficking in Fisheries,” explains further, in the fourth episode of our new themed series In Chains. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The global success of football icons like Samuel Eto'o, Didier Drogba and Mohamed Salah has fuelled the migratory projects of countless young men across the African continent who dream of following - literally and figuratively - in their footsteps. Drawing on over a decade of ethnographic research, African Football Migration: Aspirations, Experiences and Trajectories (Manchester University Press, 2022) captures and chronicles the aspirations, experiences and trajectories of those pursuing this highly prized form of transnational migration. In doing so, the book’s three authors Dr. Paul Darby, Dr. James Esson, and Dr. Christian Ungruhe uncover and trace the myriad actors, networks and institutions that affect the ability of young people across the continent to realise social mobility through football's global production network.The book sheds critical light on the barriers to social mobility erected by neoliberal capitalism, and how these are negotiated by aspiring African footballers. It also generates original interdisciplinary perspectives on the complex interplay between structural forces and human agency, as young players navigate an industry rife with commercial speculation. While a select few reach the elite levels of the game and build a successful career overseas, the book vividly illustrates how for the vast majority, 'trying their luck' through football results in involuntary immobility in post-colonial Africa. These findings are complemented by rare empirical insights from transnational African migrants at the margins of the global football industry and those navigating precarious retirement from careers as players.African Football Migration offers essential coverage of why and how African youth and young men have become actors in the global football industry, revealing the complex implications of transnational mobility, both imagined and enacted.This interview was conducted by Dr. Miranda Melcher whose doctoral work focused on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars.Unfortunately, Dr. Christian Ungruhe was unable to join this interview. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Across the twentieth century, Earth's human population increased undeniably quickly, rising from 1.6 billion people in 1900 to 6.1 billion in 2000. As population grew, it also began to take the blame for some of the world's most serious problems, from global poverty to environmental degradation, and became an object of intervention for governments and nongovernmental organizations. But the links between population, poverty, and pollution were neither obvious nor uncontested.Building the Population Bomb (Oxford University Press, 2021) by Emily Klancher Merchant tells the story of the twentieth-century population crisis by examining how scientists, philanthropists, and governments across the globe came to define the rise of the world's human numbers as a problem. It narrates the history of demography and population control in the twentieth century, examining alliances and rivalries between natural scientists concerned about the depletion of the world's natural resources, social scientists concerned about a bifurcated global economy, philanthropists aiming to preserve American political and economic hegemony, and heads of state in the Global South seeking rapid economic development. It explains how these groups forged a consensus that promoted fertility limitation at the expense of women, people of color, the world's poor, and the Earth itself.As the world's population continues to grow—with the United Nations projecting 11 billion people by the year 2100—Building the Population Bomb steps back from the conventional population debate to demonstrate that our anxieties about future population growth are not obvious but learned. Ultimately, this critical volume shows how population growth itself is not a barrier to economic, environmental, or reproductive justice; rather, it is our anxiety over population growth that distracts us from the pursuit of these urgent goals.Nicole Bourbonnais is Associate Professor of International History and Politics and Co-Director of the Gender Centre at the Graduate Institute of International and Development Studies in Geneva, Switzerland. Her research explores reproductive politics and practice from a transnational, historical perspective. Profile here: https://www.graduateinstitute.... Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The investment industry is fast approaching a point where one-third of global assets under management are invested with a sustainable objective. But do sustainable investment products do what investors expect them to do? How can an investor tell if their investments are having the social impact they want? Does that impact come at a financial cost? And how can investors weave their way through the web of confusing acronyms, conflicting agency ratings, and the mass of fund offerings, confident that they can recognize and avoid corporate greenwashing?Larry Swedroe and Sam Adams cut through the fog and bring clarity on all of this and more―providing investors with a firm plan for truly sustainable investing.The authors first define sustainable investing, illuminating the differences between ESG, SRI and impact investing, and reveal who is currently investing sustainably and why. They then move on to a comprehensive review of the academic research. Finally, this book arms you with a practical guide to investing sustainably, including how to effectively choose your asset allocation strategy, and select the managers and funds through which your money can create the change you want to see in the world.Your Essential Guide to Sustainable Investing (Harriman House, 2022) is the definitive go-to resource investors have been waiting for.John Emrich has worked for decades years in corporate finance, business valuation and fund management. He has a podcast about the investment space called Kick the Dogma. 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 Mark L. Sirower about his book (co-authored with Jeff Weirens) The Synergy Solution: How Companies Win the Mergers and Acquisitions Game (HBP, 2022).First impressions really do matter, and the M&A deals that receive a positive reaction on Announcement Day tend to outperform, over time, those deals where due diligence wasn’t practiced up front. Indeed, as this episode’s guest, Mark Sirower, notes, in two-thirds of cases a negative initial reception is a sign that the deal will never gain momentum. What leads to success? Among the key elements is focusing on the employee experience. Smart companies get “ahead of the pain” by acknowledging that workers have moved from the highest rung of Maslow’s Hierarchy of Needs (self-realization) to fearing for their material well-being, their security, i.e., the lowest, most basic rung of the ladder. In short, at a time of vast, globalized M&A deal-making, EQ has never been more important as companies navigate the emotional earthquake most employees are going to experience.Mark L. Sirower is a leader in Deloitte’s M&A and Restructuring practice and was, previously, a global M&A leader at the Boston Consulting Group. He teaches M&A at the NYU Stern School of Business and has also authored The Synergy Trap.Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Lingo. 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

Has the internet really been the main culprit behind the upheaval of the contemporary media industries? In Media Disrupted: Surviving Pirates, Cannibals, and Streaming Wars (MIT Press, 2021), Professor Amanda Lotz provides a rebuttal to persistent myths about disruption across the mediascape of the late 20th and early 21st Centuries. Through a granular reading of four media industries – newspapers, recorded music, film and television – Lotz demonstrates that the internet has had diffuse and divergent effects in each, none of which are adequately explained through simplistic narratives of piracy or cannibalism. Lotz suggests that the speed and scale of reconfiguration in these industries has stemmed more from built up consumer demand and business (mal)practices, often with deep historical roots, which have only then been catalysed by the advent of the internet.Alongside laying out what we often get wrong about the internet and the media industries, Lotz provides detailed analyses of those media businesses which managed to negotiate this tumultuous period successfully. Media Disruption helps us understand how the media industries got to where they are today and provides valuable lessons for those seeking to weather disruptions to come.Professor Amanda Lotz works at the Digital Media Research Centre at Queensland University of Technology. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debts―about the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt (Oxford University Press, 2021) offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergencies―from wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governments―now more heavily indebted than before―finally emerge from the crisis.Javier Mejia is an economist teaching at Stanford University, whose work focuses on the intersection between social networks and economic history. His interests extend to topics on entrepreneurship and political economy with a geographical specialty in Latin America and the Middle East. He received a Ph.D. in Economics from Los Andes University. He has been a Postdoctoral Associate and Lecturer at New York University--Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is a regular contributor to different news outlets. Currently, he is Forbes Magazine op-ed columnist. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Few people realize that raising children is the single largest industry in the United States. Yet this vital work receives little political support, and its primary workers—parents—labor in isolation. If they ask for help, they are made to feel inadequate; there is no centralized organization to represent their interests; and there is virtually nothing spent on research and development to help them achieve their goals. It’s almost as if parents are set up to fail—and the result is lost opportunities that limit children’s success and make us all worse off. In The Parent Trap: How to Stop Overloading Parents and Fix Our Inequality Crisis (MIT Press, 2022), Nate Hilger combines cutting-edge social science research, revealing historical case studies, and on-the-ground investigation to recast parenting as the hidden crucible of inequality.Parents are expected not only to care for their children but to help them develop the skills they will need to thrive in today’s socioeconomic reality—but most parents, including even the most caring parents on the planet, are not trained in skill development and lack the resources to get help. How do we fix this? The solution, Hilger argues, is to ask less of parents, not more. America should consider child development a public investment with a monumental payoff. We need programs inspired by Medicare—call them Familycare—to drive this investment. To make it happen, parents need to become an interest group that can wield its political power on behalf of children—who will always be the largest bloc of disenfranchised people in this country.The Parent Trap exposes the true costs of our society’s unrealistic expectations around parenting and lays out a profoundly hopeful blueprint for reform.Nate Hilger is a Harvard and Stanford-trained economist who has worked as a professor of economics at Brown University and an economist and data scientist in Silicon Valley. While in academia he was a Research Fellow at the National Bureau of Economic Research and continues to hold an affiliation with the Population Studies and Training Center at Brown. In 2020 he served as a lead policy consultant on early childhood and non-K12 child development issues for Pete Buttigieg’s presidential campaign.His academic research on child development and inequality has been published in The Quarterly Journal of Economics and other leading peer-reviewed journals, and has been featured in The New York Times, The Washington Post, and other major media outlets. He lives with his wife and son in Redwood City, California.Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco, where he leads a new Master's program in Applied Economics focused on the digital economy. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Following the recent global housing boom, tract housing development became a billion-dollar industry in Mexico. At the national level, neoliberal housing policy has overtaken debates around land reform. For Indigenous peoples, access to affordable housing remains crucial to alleviating poverty. But as palapas, traditional thatch and wood houses, are replaced by tract houses in the Yucatán Peninsula, Indigenous peoples' relationship to land, urbanism, and finance is similarly transformed, revealing a legacy of debt and dispossession.Indigenous Dispossession: Housing and Maya Indebtness in Mexico (Stanford UP, 2020) examines how Maya families grapple with the ramifications of neoliberal housing policies. M. Bianet Castellanos relates Maya migrants' experiences with housing and mortgage finance in Cancún, one of Mexico's fastest-growing cities. Their struggle to own homes reveals colonial and settler colonial structures that underpin the city's economy, built environment, and racial order. But even as Maya people contend with predatory lending practices and foreclosure, they cultivate strategies of resistance—from "waiting out" the state, to demanding Indigenous rights in urban centers. As Castellanos argues, it is through these maneuvers that Maya migrants forge a new vision of Indigenous urbanism. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

By the early 1900s, the poor farm had become a ubiquitous part of America's social welfare system. Megan Birk's history of this foundational but forgotten institution focuses on the connection between agriculture, provisions for the disadvantaged, and the daily realities of life at poor farms. Conceived as an inexpensive way to provide care for the indigent, poor farms in fact attracted wards that ranged from abused wives and the elderly to orphans, the disabled, and disaster victims. Most people arrived unable rather than unwilling to work, some because of physical problems, others due to a lack of skills or because a changing labor market had left them behind. Birk blends the personal stories of participants with institutional histories to reveal a loose-knit system that provided a measure of care to everyone without an overarching philosophy of reform or rehabilitation. In-depth and innovative, The Fundamental Institution: Poverty, Social Welfare, and Agriculture in American Poor Farms (U Illinois Press, 2022) offers an overdue portrait of rural social welfare in the United States.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