New Books in Economic and Business History

In the last years of his life, Karl Marx expanded his research in new directions-studying recent anthropological discoveries, analyzing communal forms of ownership in precapitalist societies, supporting the populist movement in Russia, and expressing critiques of colonial oppression in India, Ireland, Algeria, and Egypt. Between 1881 and 1883, he also traveled beyond Europe for the first and only time. Focusing on these last years of Marx's life, this book dispels two key misrepresentations of his work: that Marx ceased to write late in life, and that he was a Eurocentric and economic thinker fixated on class conflict alone. 

With The Last Years of Karl Marx: An Intellectual Biography (Stanford UP, 2020), Marcello Musto claims a renewed relevance for the late work of Marx, highlighting unpublished or previously neglected writings, many of which remain unavailable in English. Readers are invited to reconsider Marx's critique of European colonialism, his ideas on non-Western societies, and his theories on the possibility of revolution in noncapitalist countries. From Marx's late manuscripts, notebooks, and letters emerge an author markedly different from the one represented by many of his contemporary critics and followers alike. As Marx currently experiences a significant rediscovery, this volume fills a gap in the popularly accepted biography and suggests an innovative reassessment of some of his key concepts.

Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel.

California's Silicon Valley is home to the greatest concentration of designers in the world: corporate design offices at flagship technology companies and volunteers at nonprofit NGOs; global design consultancies and boutique studios; research laboratories and academic design programs. Together they form the interconnected network that is Silicon Valley. Apple products are famously “Designed in California,” but, as Barry Katz shows in this first-ever, extensively illustrated history, the role of design in Silicon Valley began decades before Steve Jobs and Steve Wozniak dreamed up Apple in a garage.

In Make it New, Katz tells how design helped transform Silicon Valley into the most powerful engine of innovation in the world. From Hewlett-Packard and Ampex in the 1950s to Google and Facebook today, design has provided the bridge between research and development, art and engineering, technical performance and human behavior. Katz traces the origins of all of the leading consultancies—including IDEO, frog, and Lunar—and shows the process by which some of the world's most influential companies came to place design at the center of their business strategies. At the same time, universities, foundations, and even governments have learned to apply “design thinking” to their missions. Drawing on unprecedented access to a vast array of primary sources and interviews with nearly every influential design leader—including Douglas Engelbart, Steve Jobs, and Don Norman—Katz reveals design to be the missing link in Silicon Valley's ecosystem of innovation.

Barry M. Katz is Professor of Industrial and Interaction Design at California College of the Arts, Consulting Professor in the Design Group at Stanford University, and Fellow at IDEO, Inc. He is coauthor of Change by Design, with Tim Brown, and NONOBJECT, with Branko Lukić (MIT Press).

As Nazi Germany began to conquer Europe, America’s military was unprepared, too small, and poorly supplied. The Nazis were supported by robust German factories that created a seemingly endless flow of arms, trucks, tanks, airplanes, and submarines. The United States, emerging from the Great Depression, was skeptical of American involvement in Europe and not ready to wage war. Hardened isolationists predicted disaster if the country went to war.

In V Is For Victory: Franklin Roosevelt's American Revolution and the Triumph of World War II (Scribner, 2023), Craig Nelson traces how Franklin D. Roosevelt steadily and sometimes secretively put America on a war footing by convincing America’s top industrialists such as Henry Ford Jr. to retool their factories, by diverting the country’s supplies of raw materials to the war effort, and above all by convincing the American people to endure shortages, to work in wartime factories, and to send their sons into harm’s way. Within a few years, the nation’s workers were producing thousands of airplanes and tanks, hundreds of warships and submarines. Under FDR’s resolute leadership, victory at land and sea and air across the globe began at home in America—a powerful and essential narrative largely overlooked in conventional histories of the war but which, in Nelson’s skilled, authoritative hands, becomes an illuminating and important work destined to become an American history classic.

AJ Woodhams hosts the "War Books" podcast. You can subscribe on Apple here and on Spotify here. War Books is on YouTube, Facebook and Instagram.

The rise of the Indian information technology industry is a remarkable economic success story. Software and services exports from India amounted to less than $100 million in 1990, and today come close to $100 billion. But, as Dinesh Sharma explains in The Outsourcer, Indian IT's success has a long prehistory; it did not begin with software support, or with American firms' eager recruitment of cheap and plentiful programming labor, or with India's economic liberalization of the 1990s. The foundations of India's IT revolution were laid long ago, even before the country's independence from British rule in 1947, as leading Indian scientists established research institutes that became centers for the development of computer science and technology. The “miracle” of Indian IT is actually a story about the long work of converting skills and knowledge into capital and wealth. With The Outsourcer, Sharma offers the first comprehensive history of the forces that drove India's IT success.

Sharma describes India's early development of computer technology, part of the country's efforts to achieve national self-sufficiency, and shows that excessive state control stifled IT industry growth before economic policy changed in 1991. He traces the rise and fall (and return) of IBM in India and the emergence of pioneering indigenous hardware and software firms. He describes the satellite communication links and state-sponsored, tax-free technology parks that made software-related outsourcing by foreign firms viable, and the tsunami of outsourcing operations at the beginning of the new millennium. It is the convergence of many factors, from the tradition of technical education to the rise of entrepreneurship to advances in communication technology, that have made the spectacular growth of India's IT industry possible.

Dinesh C. Sharma is a journalist and author with thirty years of experience reporting on science, technology, and innovation.

California owes its origins and sunny prosperity to slavery. Spanish invaders captured Indigenous people to build the chain of Catholic missions. Russian otter hunters shipped Alaska Natives--the first slaves transported into California--and launched a Pacific slave triangle to China. Plantation slaves were marched across the plains for the Gold Rush. San Quentin Prison incubated California's carceral state. Kidnapped Chinese girls were sold in caged brothels in early San Francisco. Indian boarding schools supplied new farms and hotels with unfree child workers.

By looking west to California, Jean Pfaelzer upends our understanding of slavery as a North-South struggle and reveals how the enslaved in California fought, fled, and resisted human bondage. In unyielding research and vivid interviews, Pfaelzer exposes how California gorged on slavery, an appetite that persists today in a global trade in human beings lured by promises of jobs but who instead are imprisoned in sweatshops and remote marijuana grows, or sold as nannies and sex workers.

California, a Slave State (Yale UP, 2023) shreds California's utopian brand, rewrites our understanding of the West, and redefines America's uneasy paths to freedom.

In this episode I met with the editors of the Elgar Publishing Handbook of Historical Methods for Management, Stephanie Decker, Professor of Strategy, University of Birmingham Business School, in the UK, and Professor of African Business History, University of Gothenburg in Sweden, William M. Foster, Professor of Management at the University of Alberta in Canada, and Elena Giovannoni, Professor of Accounting at the Royal Holloway University in London, and the University of Siena in Italy.

The Handbook of Historical Methods for Management is invaluable for researchers seeking to expand their methodological toolkit. Not only does it showcase a variety of interdisciplinary approaches to the study of management, the Handbook also provides both practical guidance and conceptual insights that present an inclusive overview of historical techniques for management. Authored by leading experts in the field, this timely Handbook provides practical examples that explain the different processes involved in historical methods of enquiry. It introduces a wide variety of topics such as archival research, organizational memory, materiality, and ANTi-history, offering insights into the complexity of this broad field.

Ultimately, the chapters revitalise historical methods in managementand organizational studies through careful, interdisciplinary methodological guidance. This comprehensive Handbook is essential for business, economics and management scholars seeking to clarify their studies. It will additionally be valuable for those in management positions striving to learn more about historical perspectives used to study the field.

Episode hosted by Paula de la Cruz-Fernández, host of the Economic and Business History Channel and editor of the New Books Network en español.

In The Money Revolution: How to Finance the Next American Century, economist and bestselling author Richard Duncan lays out a farsighted strategy to maximize the United States' unmatched financial and technological potential. In compelling fashion, the author shows that the United States can and should invest in the industries and technologies of the future on an unprecedented scale in order to ignite a new technological revolution that would cement the country’s geopolitical preeminence, greatly enhance human wellbeing, and create unimaginable wealth. This book also features a history of the Federal Reserve.

Richard Duncan has served as Global Head of Investment Strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington, D.C., and headed equity research departments for James Capel Securities and Salomon Brothers in Bangkok, Thailand. He is now the publisher of Macro Watch, a video-newsletter that analyzes the forces driving the global economy in the 21st Century.

Caleb Zakarin is the Assistant Editor of the New Books Network.

Shipwrecks and the Bounty of the Sea (Oxford University Press, 2022), Dr. David Cressy is a work of social history examining community relationships, law, and seafaring over the long early modern period. It explores the politics of the coastline, the economy of scavenging, and the law of 'wreck of the sea' from the beginning of the reign of Elizabeth I to the end of the reign of George II. England's coastlines were heavily trafficked by naval and commercial shipping, but an unfortunate percentage was cast away or lost.

Shipwrecks were disasters for merchants and mariners, but opportunities for shore dwellers. As the proverb said, it was an ill wind that blew nobody any good. Lords of manors, local officials, officers of the Admiralty, and coastal commoners competed for maritime cargoes and the windfall of wreckage, which they regarded as providential godsends or entitlements by right. A varied haul of commodities, wines, furnishings, and bullion came ashore, much of it claimed by the crown. The people engaged in salvaging these wrecks came to be called 'wreckers', and gained a reputation as violent and barbarous plunderers. Close attention to statements of witnesses and reports of survivors shows this image to be largely undeserved. Dramatic evidence from previously unexplored manuscript sources reveals coastal communities in action, collaborating as well as competing, as they harvested the bounty of the sea.

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.

By providing capital to back the ideas and efforts of others, venture capitalists can make absurd amounts of money. But there is another way of looking at it – venture capitalists take huge risks and produce great benefits. Many of the companies we rely on today began with a punt by a venture capitalist. Sebastian Mallaby discusses venture capitalists with Owen Bennett Jones. Mallaby is the author of The Power Law: Venture Capital and the Making of the New Future (Penguin, 2022) among other books. 

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.

Writer and design critic Alexandra Lange talks about her book, Meet Me by the Fountain: An Inside History of the Shopping Mall (Bloombury, 2023), with Peoples & Things host, Lee Vinsel. Meet Me by the Fountain is a history of the American shopping mall from its emergence to recent attempts to reinvent and reconceptualize the shells of “dead” shopping centers. Along the way, it details the mall’s many ironies and contradictions and how it became the center and icon of community and culture, especially youth culture, in the late 20th century. Lange and Vinsel also discuss Lange’s larger career and her work as an architecture and design critic.

Lee Vinsel is an associate professor in the Department of Science, Technology and Society at Virginia Tech. He studies human life with technology, with particular focus on the relationship between government, business, and technological change. His first book, Moving Violations: Automobiles, Experts, and Regulations in the United States, was published by Johns Hopkins University Press in July 2019.