Calming the Storms: The Carry Trade, the Banking School and British Financial Crises Since 1825 (Palgrave Macmillan, 2023) by Dr. Charles Read exposes, for the first time in modern scholarship, the role that the rise of the Carry Trade played in British financial crises between 1825 and 1866, how in reaction the Bank of England improved its management of monetary policy after 1866 and how those lessons have been forgotten since the 1970s.

Britain is one of the few major capitalist economies in the world to have avoided policy-induced systemic financial crises for more than 100 years of its history—between 1866 and 1973. Beforehand, it suffered a series of serious banking panics, in 1825, 1837, 1847, 1857-58 and 1866. Since the 1970s banking instability has returned again, with the global financial crisis of 2007-09 hitting Britain hard.

Economists and policymakers have asked what can be learnt from Britain’s experience of the disappearance and reappearance of crises to help efforts to prevent future ones. This book answers that question with a major reassessment of Britain’s financial history over the past two centuries. It does so by applying the long-neglected ideas of the British Banking School to explain how crises can occur because of the Carry Trade. This book is essential reading for economists and historians of modern Britain, practitioners and policymakers, as well as anyone who is affected by financial crises and their consequences.

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.

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South of the Norman city of Caen, Verrières Ridge was seen a key stepping-stone for the British Second Army if it was to break out of the Normandy bridgehead in late July 1944. Imposing in height and containing perfect terrain for armored operations, the Germans viewed it as the lynchpin to their defenses south of the city of Caen and east of the Orne river.

Following the failure of British Operation Goodwood on 18-20 July and the containment of the Canadian Operation Atlantic, further Allied attacks to seize the ridge would have to defeat arguably the strongest German armored formation in Normandy: The I. SS-Panzerkorps 'Leibstandarte.' In the second volume of this two-volume work, the fighting of 23 July-3 August is chronicled in detail, specifically the premier Anglo-Canadian operation to capture Verrières Ridge, Operation Spring on 25 July. Designed as an attack to seize the ridge and exploit south with armor, this battle saw the 2nd Canadian Corps attack savaged again by German armored reserves brought in specifically to defeat another Goodwood.

Not satisfied with this defensive victory, German armored forces would then seek to restore an earlier defensive line further north, attacking to destroy the 2nd Canadian Infantry Division. Largely unknown, these were some of the strongest and most successful German armored operations to take place in the Normandy campaign.

An interview about the first volume of Bloody Verrières is here.

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Derek Parfit (1942-2017) is the most famous philosopher most people have never heard of. Widely regarded as one of the greatest moral thinkers of the past hundred years, Parfit was anything but a public intellectual. Yet his ideas have shaped the way philosophers think about things that affect us all: equality, altruism, what we owe to future generations, and even what it means to be a person. In Parfit: A Philosopher and His Mission to Save Morality (Princeton UP, 2023), David Edmonds presents the first biography of an intriguing, obsessive, and eccentric genius.

Believing that we should be less concerned with ourselves and more with the common good, Parfit dedicated himself to the pursuit of philosophical progress to an extraordinary degree. He always wore gray trousers and a white shirt so as not to lose precious time picking out clothes, he varied his diet as little as possible, and he had only one serious non-philosophical interest: taking photos of Oxford, Venice, and St. Petersburg. In the latter half of his life, he single-mindedly devoted himself to a desperate attempt to rescue secular morality--morality without God--by arguing that it has an objective, rational basis. For Parfit, the stakes could scarcely have been higher. If he couldn't demonstrate that there are objective facts about right and wrong, he believed, his life was futile and all our lives were meaningless.

Connecting Parfit's work and life and offering a clear introduction to his profound and challenging ideas, Parfit is a powerful portrait of an extraordinary thinker who continues to have a remarkable influence on the world of ideas.

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Freddy Foks's Participant Observers: Anthropology, Colonial Development, and the Reinvention of Society in Britain (U California Press, 2023) is a novel new history of the role of social anthropology in British society from the 1920s to the 1970s. Foks follows the anthropologist Bronislaw Malinowski and his students from the seminar room and field and out into the broader world, describing how their brand of 'social anthropology' interacted with British debates debates about colonialism, marriage and the family, and urban life. Participant Observers is especially interesting because it gives attention to Margaret Read, Elizabeth Bott, Kenneth Little, Polly Hill, and other figures whose important work has not received the attention it deserves. A clearly and at times elegantly written work, this closely researched book's ambitious scope makes it notable, and its orientation to British history gives it an unusual angle that will appeal to historians of anthropology.

In this episode of the podcast, Freddy speaks with host Alex Golub about his book, the characters and events of twentieth century social anthropology, and the challenges of creating a narrative that spans several decades and an entire country.

Alex Golub is associate professor of anthropology, University of Hawai‘i at Mānoa.

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How did British society become financialised? In Are We Rich Yet? The Rise of Mass Investment Culture in Contemporary Britain (U California Press, 2022), Dr Amy Edwards, a senior lecturer in the Department of History at the University of Bristol, analyses the cultural, social, and economic history of the 1980s to understand how British society became a nation of investors. The book ranges from well-known examples, such as Yuppies and privatisation of national utilities, through to everyday examples of share shops and investment clubs. Linking the analysis to broader trends in British and in financial history, alongside issues of class and gender, the book is essential reading across the humanities and social sciences, as well as for anyone interested in why money is so important to contemporary life.

Dave O'Brien is Professor of Cultural and Creative Industries, at the University of Sheffield.

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The Heart of the Forest: Why Woods Matter (British Library, 2022) looks at threats to forest life across the globe. Dr. John Miller draws on literature, film and art to explore why woods matter to us, building on the ecological case for saving trees to raise the compelling question of their cultural value.

The Heart of the Forest explores four enduring ways in which we connect to the woods – through Refuge, Sacredness, Horror and Hope – making fascinating links between emotion and genre. For Henry David Thoreau, the woods are places beyond civilisation; for Ursula LeGuin and C S Lewis, they are loaded with otherworldly potential; and for those fleeing captivity, they can provide a welcome sanctuary. Woods can strike fear, they can inspire wonder, they can be lovely, dark and deep.

With full-colour illustration throughout, this book branches out into the British Library to find both the haunting and the hopeful in an unparalleled collection of books, manuscripts and photography. It tells a global story of how we understand trees, and its beautifully illustrated pages present a moving argument for conservation and renewal.

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.

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The ideas of equity and equality are all over the news, yet there seems to be little agreement on what exactly each term means. Political theorist and intellectual historian Teresa Bejan of Oriel College, Oxford discusses the origins of our notions of equality, from the Roman Empire to the present, focusing particularly on Early Modernity and the influence of the French Revolution and the English political movements like the Levellers, Diggers, and Quakers. Along the way, she uncovers the surprising facts like the relationship between equality and hierarchy, and that Marx was not as pro-equality as popularly believed.

Her recent 3-part Charles E. Test lecture series for the Madison Program, “First Among Equals”

Her book Mere Civility: Disagreement and the Limits of Toleration (Harvard UP, 2019).

Annika Nordquist is the Communications Coordinator of Princeton University’s James Madison Program in American Ideals and Institutions and host of the Program’s podcast, Madison’s Notes.

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The Dress Diary: Secrets from a Victorian Woman’s Wardrobe (Penguin, 2023) by Dr. Kate Strasdin presents the hidden fabric of a Victorian woman's life - from family and friends to industry and Empire - told through her unique textile scrapbook.

In 1838, a young woman was given a diary on her wedding day. Collecting snippets of fabric from a range of garments she carefully annotated each one, creating a unique record of her life and times. Her name was Mrs Anne Sykes.

Nearly two hundred years later, the diary fell into the hands of Dr. Kate Strasdin, a fashion historian and museum curator. Dr. Strasdin spent the next six years unravelling the secrets contained within the album's pages.

Piece by piece, she charts Anne's journey from the mills of Lancashire to the port of Singapore before tracing her return to England in later years. Fragments of cloth become windows into Victorian life: pirates in Borneo, the complicated etiquette of mourning, poisonous dyes, the British Empire in full swing, rioting over working conditions and the terrible human cost of Britain's cotton industry.

This is life writing that celebrates ordinary people: the hidden figures, the participants in everyday life. Through the evidence of waistcoats, ball gowns and mourning outfits, Dr. Strasdin lays bare the whole of human experience in the most intimate of mediums: the clothes we choose to wear.

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.

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In Blank Canvas: Art School Creativity From Punk to New Wave (Intellect Publishing, 2022), Simon Strange explores the relationship between art and music within education in the United Kingdom. Strange examines the diverse range of people who broke down the barriers between art, life, and the creative self. He looks at art school Britain in the 1960s and ’70s, a hotbed of experimental DIY creativity that blurred the lines between art and music. Tracing lines from the Bauhaus “blank slate” through the white heat of the Velvet Underground and the cutting edge of the Slits, Blank Canvas draws on interviews with giants of the genre across the spectrums of music, gender, and race, from Brian Eno to Pauline Black, Cabaret Voltaire to Gaye Advert. What emerges is a portrait of the era as an eclectic range of musical styles and cultures fused, erupting into a diverse flow of outspoken originality. Providing a framework for creativity within the arts and education, the book illuminates a path for the cultural evolution of both musicians and artists hoping to create the future.

Rebekah Buchanan is a Professor of English and Director of English Education at Western Illinois University. Her research focuses on feminism, activism, and literacy practices in youth culture, specifically through zines and music.

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Nostalgia for the 1980s is in the air. From Stranger Things to the relaunch of 80s franchises like Top Gun, the American entertainment industry casts the period as an age of simpler things, clearer dichotomies, and less technology. Yet not all was simple. The 1980s were the heyday of the Cold War. They were the decade of rapid social change, of deregulation and selfish consumption, of Ronald Reagan and Margaret Thatcher. They were also the decade when a new technology swept the world, setting the stage for our all-too-digital present.

A lot has been written about the rise of video in the United States, the format wars, the impact it had on the entertainment industry, on personal entertainment consumption habits, and new business models. But the rise of video was not a uniquely American phenomenon, nor was the American experience normative. In fact, wherever the new technology arrived, from the US, to the Middle East, to Eastern Europe, it reshaped social and business practices, as well as government responses to it, in ways that reflected the political, social, and economic arrangements of each space.

Johnny Walker’s Rewind, Replay: Britain and the Video Boom, 1972-1992 (Edinburgh UP, 2022) tells the story of Britain’s vide boom in the 1980s by focusing on the first video distributors who took chances on a wide range of films, from documentaries, to horror, to kids entertainment, in order to attract consumer interest. The new video shops that mushroomed across Britain turned video rental into a common practice among the public. Soon, despite a crushing recession, more and more industry players started to invest into what media at the time was dismissing as a mere ‘plaything.’ Rewind, Replay chronicles the idiosyncratic ways in which British distributors and store owners navigated various local political and economic pressures including piracy, the infamous video nasties moral panic and the government crackdown on the industry, as well as the corporate expansion of the industry which, by the end of the decade, eliminated independent distributors, and turned the pre-recorded videocassette from morally questionable enterprise into a staple of high street retail.

Oana Godeanu-Kenworthy is Teaching Professor of American Studies at Miami University of Ohio. Her book, Between Empire and Republic: America in the Colonial Canadian Imagination, came out in 2022. Twitter: @OanaGodyKenw. Oana’s webpage.

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