New Books in Economic and Business History

Brent Goldfarb and David Kirsch, professors of entrepreneurship and strategy at the University of Maryland's Robert H. Smith School of Business, talk about their book, Bubbles and Crashes: The Boom and Bust of Technological Innovation, with Peoples & Things host Lee Vinsel. Bubbles and Crashes puts forward a parsimonious model of how and when economic bubbles develop around new technologies. In the conversation, Goldfarb and Kirsch reflect on a variety of topics, including why it matters that Elon Musk is such a good story teller, whether we are currently in a technology bubble, and what we can do to prevent bubbles in the future.

Seeing cigarette smoking as a cultural phenomenon of Western modernity is perhaps easier when the test case is outside the US where the narrative is dominated by Big Bad Tobacco and litigation. Tricia Starks's two volume study does just that. Her second volume, Cigarettes and Soviets: Smoking in the USSR (Cornell University Press, 2022) traces the rise and fall of cigarettes during the Soviet period. (Her first volume covered the pre-Revolutionary era.) In a beautifully written and jargon-free account illustrated with dozens of color plates, Starks tracks how the early revolutionaries tried unsuccessfully to combat mass smoking, how subsequent Soviet leaders made peace with it, and how in the post-war period, Soviet health authorities slowly made inroads against smoking, albeit with different arguments than those used in the anti-tobacco campaigns in the West.

Daniel Peris is Senior Vice President at Federated Hermes in Pittsburgh. He can be reached at [email protected] or via Twitter @HistoryInvestor. His History and Investing blog and Keep Calm & Carry On Investing podcast are here.

On this episode, Martín Garrido Lepe y Beatriz Rodriguez-Satizabal talk with Clemente Penna winner of the Tamás Szmrecsányi Prize for thesis in economic history of the period 1810 to 1913 during the second edition of the Prize for the best PhD thesis in Latin American economic history, awarded by the Peruvian Association of Economic History, in the VII Latin American Congress of Economic History.

By analysing newspaper, notary books, debt ligation, judicial attachments and bills of exchange registries, Clemente investigates the build up of a strong private non-banking credit market with complex relationships between “the business of slavery”, the property rights, and the access to capital.

The Red de Historia Económica Iberoamericana (RHEI) is an organization that seeks to help in the dissemination of research by young researchers in Ibero-American Economic History. In this space broadcast by NBN Español, we conducted a series of interviews where recently graduated authors present their doctoral theses.

Hosts: Beatriz Rodriguez-Satizabal, Universidad del Pacífico (Perú) and Martín Garrido Lepe, Universidad de Barcelona (España)

In the middle of the 20th century, there was a passionate affair, between the Soviet empire and newly independent West African states. It was a short, intense, and acrimonious love story built on shared dreams for a noncapitalist future. Alessandro Iandolo’s new book, Arrested Development: The Soviet Union in Ghana, Guinea, and Mali, 1955-1968 (Cornell UP, 2022), explores the history of this unlikely romance. The book traces the rise and fall of the Soviet Union’s engagement with these three West African nations, which Iandolo argues were at the center of the Soviet search for development in the Third World.

Elisa Prosperetti is an Assistant Professor in International History at the National Institute of Education in Singapore. Her research focuses on the connected histories of education and development in postcolonial West Africa. Contact her at here.

Historian Ruth Schwartz Cowan talks about her book, More Work for Mother, with Peoples & Things host Lee Vinsel. The book examines the history of how Americans industrialized their homes over the past two hundred years and how supposedly labor-saving technologies led women to do increased housework. Cowan also reflects on what it was like to work as a professor as a woman and mother in the 1970s and how families have changed their relationship to technology and housework in the nearly forty years since the book was published.

This episode is a roundtable discussion on the influence of the neoliberal project on higher education. Our guests are Professor Emeritus Frank Fear from Michigan State University, Professor Claire Polster from the University of Regina, and Professor Ruben Martinez from Michigan State University. The conversation is wide-ranging across topics such as the quantification of higher education and the concept of students as customers.

John Kaag is Professor and Chair of Philosophy at UMass Lowell and External Professor at the Santa Fe Institute. John W. Traphagan, Ph.D. is Professor and Mitsubishi Heavy Industries Fellow in the Department of Religious Studies at the University of Texas at Austin, where he is also a professor in the Program in Human Dimensions of Organizations.

Efficiency has moved from a technique for measuring machines to a widely held moral value. But at what cost?

Guests

Order at the Bazaar: Power and Trade in Central Asia (Cornell UP, 2017) delves into the role of bazaars in the political economy and development of Central Asia. Bazaars are the economic bedrock for many throughout the region--they are the entrepreneurial hubs of Central Asia. However, they are often regarded as mafia-governed environments that are largely populated by the dispossessed. By immersing herself in the bazaars of Kyrgyzstan, Regine A. Spector learned that some are rather best characterized as islands of order in a chaotic national context.

Spector draws on interviews, archival sources, and participant observation to show how traders, landowners, and municipal officials create order in the absence of a coherent government apparatus and bureaucratic state. Merchants have adapted Soviet institutions, including trade unions, and pre-Soviet practices, such as using village elders as the arbiters of disputes, to the urban bazaar by building and asserting their own authority. Spector's findings have relevance beyond the bazaars and borders of one small country; they teach us how economic development operates when the rule of law is weak.

Tracing practical reason from its origins to its modern and contemporary permutations, the Greek discovery of practical reason, as the skilled performance of strategic thinking in public and private affairs, was an intellectual breakthrough that remains both a feature of and a bug in our modern world. Countering arguments that rational choice-making is a contingent product of modernity, The Greeks and the Rational: The Discovery of Practical Reason (U California Press, 2022) traces the long history of theorizing rationality back to ancient Greece. In this book, Josiah Ober explores how ancient Greek sophists, historians, and philosophers developed sophisticated and systematic ideas about practical reason. At the same time, they recognized its limits—that not every decision can be reduced to mechanistic calculations of optimal outcomes. Ober finds contemporary echoes of this tradition in the application of game theory to political science, economics, and business management. The Greeks and the Rational offers a striking revisionist history with widespread implications for the study of ancient Greek civilization, the history of thought, and human rationality itself.

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.

For some, automation will usher in a labor-free utopia; for others, it signals a disastrous age-to-come. Yet whether seen as dream or nightmare, automation, argues Munn, is ultimately a fable that rests on a set of triple fictions. There is the myth of full autonomy, claiming that machines will take over production and supplant humans. But far from being self-acting, technical solutions are piecemeal; their support and maintenance reveals the immense human labor behind "autonomous" processes. There is the myth of universal automation, with technologies framed as a desituated force sweeping the globe. But this fiction ignores the social, cultural, and geographical forces that shape technologies at a local level. And, there is the myth of automating everyone, the generic figure of "the human" at the heart of automation claims. But labor is socially stratified and so automation's fallout will be highly uneven, falling heavier on some (immigrants, people of color, women) than others. 

In Automation Is a Myth (Stanford UP, 2022), Munn moves from machine minders in China to warehouse pickers in the United States to explore the ways that new technologies do (and don't) reconfigure labor. Combining this rich array of human stories with insights from media and cultural studies, Munn points to a more nuanced, localized, and racialized understanding of the "future of work."

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. Twitter.