New Books in Economic and Business History

The Meddlers: Sovereignty, Empire, and the Birth of Global Economic Governance (Harvard University Press, 2022) presents a pioneering history that traces the origins of global economic governance—and the political conflicts it generates—to the aftermath of World War I.

International economic institutions like the International Monetary Fund and World Bank exert incredible influence over the domestic policies of many states. These institutions date from the end of World War II and amassed power during the neoliberal era of the late twentieth century. But as Jamie Martin shows, if we want to understand their deeper origins and the ideas and dynamics that shaped their controversial powers, we must turn back to the explosive political struggles that attended the birth of global economic governance in the early twentieth century.

In The Meddlers, Dr. Jamie Martin tells the story of the first international institutions to govern the world economy, including the League of Nations and Bank for International Settlements, created after World War I. These institutions endowed civil servants, bankers, and colonial authorities from Europe and the United States with extraordinary powers: to enforce austerity, coordinate the policies of independent central banks, oversee development programs, and regulate commodity prices. In a highly unequal world, they faced a new political challenge: was it possible to reach into sovereign states and empires to intervene in domestic economic policies without generating a backlash?

Dr. Martin follows the intense political conflicts provoked by the earliest international efforts to govern capitalism—from Weimar Germany to the Balkans, Nationalist China to colonial Malaya, and the Chilean desert to Wall Street. The Meddlers shows how the fraught problems of sovereignty and democracy posed by institutions like the IMF are not unique to late twentieth-century globalization, but instead first emerged during an earlier period of imperial competition, world war, and economic crisis.

Jamie Martin is Assistant Professor of History and of Social Studies at Harvard University.

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.

Capitalism in Chaos: How the Business Elites of Europe Prospered in the Era of the Great War (Cornell UP, 2022) explores an often-overlooked consequence and paradox of the First World War—the prosperity of business elites and bankers in service of the war effort during the destruction of capital and wealth by belligerent armies. This study of business life amid war and massive geopolitical changes follows industrialists and policymakers in Central Europe as the region became crucially important for German and subsequently French plans of economic and geopolitical expansion in the late nineteenth and early twentieth centuries. Based on extensive research in sixteen archives, five languages, and four states, Máté Rigó demonstrates that wartime destruction and the birth of "war millionaires" were two sides of the same coin. Despite the recent centenaries of the Great War and the Versailles peace treaties, knowledge of the overall impact of war and border changes on business life remains sporadic, based on scant statistics and misleading national foci. Consequently, most histories remain wedded to the viewpoint of national governments and commercial connections across national borders. Capitalism in Chaos changes the static historical perspective by presenting Europe's East as the economic engine of the continent. 

Rigó accomplishes this paradigm shift by focusing on both supranational regions—including East-Central and Western Europe—as well as the eastern and western peripheries of Central Europe, Alsace-Lorraine and Transylvania, from the 1870s until the 1920s. As a result, Capitalism in Chaos offers a concrete, lively history of economics during major world crises, with a contemporary consciousness toward inequality and disparity during a time of collapse.

Roland Clark is a Reader in Modern European History at the University of Liverpool, a Senior Fellow with the Centre for Analysis of the Radical Right, and the Principal Investigator of an AHRC-funded project on European Fascist Movements.

From the United Kingdom to Italy, from Brazil to the Gambia to the USA, Philip Lymbery, the internationally acclaimed author of Farmageddon, goes behind the scenes of industrial farming and confronts 'Big Agriculture', where mega-farms, chemicals and animal cages are sweeping the countryside and jeopardising the air we breathe, the water we drink, the food we eat and the nature that we treasure.

In his investigations, however, he also finds hope in the pioneers who are battling to bring landscapes back to life, who are rethinking farming methods, rediscovering traditional techniques and developing technologies to feed an ever-expanding global population.

Impassioned, balanced and persuasive, Sixty Harvests Left: How to Reach a Nature-Friendly Future (Bloomsbury, 2022) not only demonstrates why future harvests matter more than ever, but reveals how we can restore our planet for a nature-friendly future.

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.

Working Backstage: A Cultural History and Ethnography of Technical Theater Labor (University of Michigan Press, 2021) by Dr. Christin Essin illuminates the work of New York City’s theater technicians, shining a light on the essential contributions of unionized stagehands, carpenters, electricians, sound engineers, properties artisans, wardrobe crews, makeup artists, and child guardians. Too-often dismissed or misunderstood as mere functionaries, these technicians are deeply engaged in creative problem-solving and perform collaborative, intricate choreographed work that parallels the performances of actors, singers, and dancers onstage. Although their contributions have fueled the Broadway machine, their contributions have been left out of most theater histories.

Theater historian Dr. Essin offers clear and evocative descriptions of this invaluable labor, based on her archival research and interviews with more than 100 backstage technicians, members of the New York locals of the International Alliance of Theatrical Stage Employees. A former theater technician herself, Dr. Essin provides readers with an insider’s view of the Broadway stage, from the suspended lighting bridge of electricians operating followspots for A Chorus Line; the automation deck where carpenters move the massive scenic towers for Newsies; the makeup process in the dressing room for The Lion King; the offstage wings of Matilda the Musical, where guardians guide child actors to entrances and exits.

Working Backstage makes a significant contribution to theater studies and also to labor studies, exploring the politics of the unions that serve backstage professionals, protecting their rights and insuring safe working conditions. Illuminating the history of this typically hidden workforce, the book provides uncommon insights into the business of Broadway and its backstage working relationships among cast and crew members.

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.

Shrimp is easily America’s favorite seafood, but its very popularity is the wellspring of problems that threaten the shrimp industry’s existence. Asian-Cajun Fusion: Shrimp from the Bay to the Bayou (University of Mississippi Press, 2022) by Carl A. Brasseaux and Donald W. Davis provides insightful analysis of this paradox and a detailed, thorough history of the industry in Louisiana.

Dried shrimp technology was part of the cultural heritage Pearl River Chinese immigrants introduced into the Americas in the mid-nineteenth century. As early as 1870, Chinese natives built shrimp-drying operations in Louisiana’s wetlands and exported the product to Asia through the port of San Francisco. This trade internationalized the shrimp industry. About three years before Louisiana’s Chinese community began their export endeavors, manufactured ice became available in New Orleans, and the Dunbar family introduced patented canning technology. The convergence of these ancient and modern technologies shaped the evolution of the northern Gulf Coast’s shrimp industry to the present.

Coastal Louisiana’s historic connection to the Pacific Rim endures. Not only does the region continue to export dried shrimp to Asian markets domestically and internationally, but since 2000 the region’s large Vietnamese immigrant population has increasingly dominated Louisiana’s fresh shrimp harvest. Louisiana shrimp constitute the American gold standard of raw seafood excellence. Yet, in the second decade of the twenty-first century, cheap imports are forcing the nation’s domestic shrimp industry to rediscover its economic roots. “Fresh off the boat” signs and real-time internet connections with active trawlers are reestablishing the industry’s ties to local consumers. Direct marketing has opened the industry to middle-class customers who meet the boats at the docks. This “right off the boat” paradigm appears to be leading the way to reestablishment of sustainable aquatic resources. All-one-can-eat shrimp buffets are not going to disappear, but the Louisiana shrimp industry’s fate will ultimately be determined by discerning consumers’ palates.

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.

Leah Cargin (Ph.D student, University of Oklahoma) speaks with Elizabeth Quay Hutchison (Professor, University of New Mexico) about Hutchison’s recent book, Workers Like All the Rest of Them: Domestic Service and the Rights of Labor in Twentieth-Century Chile (Duke University Press, 2021).

In this episode, Leah Cargin invites Elizabeth Hutchison to consider the long-term influences that have shaped her personal and professional interests in Latin American history and gender history, and to reflect on how these commitments led to this recent book. Hutchison introduces us to a few of the cooks, nannies, gardeners, and housekeepers who mobilized for recognition as workers in twentieth-century Chile, including Doña Elba Bravo and Aída Moreno Valenzuela. Rooted in oral histories with leaders and allies of the domestic service workers’ movement, Hutchison analyzes how changing constructions of domestic service labor impacted women’s work in this underpaid and under-regulated sector over the course of the twentieth century. The ‘living archive’ of activists’ testimony, in combination with congressional and associational records, enables Hutchison to narrate large-scale social and political change in Chile, centering the perspective of women domestic workers, and showcasing the alliances they forged with leadership in the Catholic Church, left-wing political organizations, and feminist organizations. Throughout this conversation, Hutchison observes the obligations and rewards of politically- and socially-engaged scholarship.

Today I talked to Eric Posner about his book How Antitrust Failed Workers (Oxford UP, 2021).

When anti-trust cases are brought forward, typically they involve monopolies exercising undue power in regards to products or services. Rarely do labor issues get the same treatment. Reasons vary from the previous power of unions, to the expense and risk of going to trial, to whether the potential for unfair, uncompetitive practices get scrutinized at all. Posner points in this episode to why the laws may need strengthening. Issues include stagnant wages, and the use and abuse of non-poaching, non-complete and arbitration clauses in the contracts that workers sign. Add in the practice of gig workers and rising inequality issues related to household wealth, and you can’t find a more timely topic than this one.

Eric Posner is a professor of Law at the University of Chicago. He’s currently on leave and working for the Anti-Trust Division of the U.S. Justice Department. (Note that his views do not necessarily reflect those of the Justice Department.) Two previous books by Posner were each separately chosen as a book of the year in 2018, one by The Economist and the other by The Financial Times.

Dan Hill, PhD, is the author of ten books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His newest book is Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com.

Before the craft beer revolution, Coors was a hot commodity. Impossible to find outside a few states in the West, the beer had a level of "cool" that only comes from scarcity. However, this veneer of desirability masked all manner of unfair and discriminatory labor practices within the Coors Brewing Company itself. 

In Brewing a Boycott: How a Grassroots Coalition Fought Coors and Remade American Consumer Activism (UNC Press, 2021), La Verne University professor Allyson Brantley describes how labor activists built a coalition that punctured the aura surrounding the iconic beer brand and created lasting change within the company. Chicano activists, union organizers, and LGBTQ protesters found common ground in aligning against Coors, and the story of their boycott movement - its failures as well as its successes - shows that activism and coalition building were vibrant and viable strategies, even during the depths of Reagan era conservatism. The story of Coors is the story of corporate union busting, New Right conservatism, and grassroots activism, all poured into one can.

Dr. Stephen R. Hausmann is an assistant professor of history at the University of St. Thomas in Minnesota.

Why did the Cold War come to a peaceful end? And why did neoliberal economics sweep across the world in the late twentieth century? In this pathbreaking study, Fritz Bartel argues that the answer to these questions is one and the same. The Cold War began as a competition between capitalist and communist governments to expand their social contracts as they raced to deliver their people a better life. But the economic shocks of the 1970s made promises of better living untenable on both sides of the Iron Curtain. Energy and financial markets placed immense pressure on governments to discipline their social contracts. Rather than make promises, political leaders were forced to break them.

In a sweeping narrative, The Triumph of Broken Promises (Harvard University Press, 2022) tells the story of how the pressure to break promises spurred the end of the Cold War. In the West, neoliberalism provided Western leaders like Ronald Reagan and Margaret Thatcher with the political and ideological tools to shut down industries, impose austerity, and favor the interests of capital over labor. But in Eastern Europe, revolutionaries like Lech Walesa in Poland resisted any attempt at imposing market discipline. Mikhail Gorbachev tried in vain to reform the Soviet system, but the necessary changes ultimately presented too great a challenge.

Faced with imposing economic discipline antithetical to communist ideals, Soviet-style governments found their legitimacy irreparably damaged. But in the West, politicians could promote austerity as an antidote to the excesses of ideological opponents, setting the stage for the rise of the neoliberal global economy.

Fritz Bartel is Assistant Professor of International Affairs at the Bush School of Government and Public Service at Texas A&M University.

Caleb Zakarin is the Assistant Editor of the New Books Network (Twitter: @caleb_zakarin).

From one of the world's leading economists, a grand narrative of the century that made us richer than ever, yet left us unsatisfied Before 1870, humanity lived in dire poverty, with a slow crawl of invention offset by a growing population. Then came a great shift: invention sprinted forward, doubling our technological capabilities each generation and utterly transforming the economy again and again. Our ancestors would have presumed we would have used such powers to build utopia. But it was not so. When 1870-2010 ended, the world instead saw global warming; economic depression, uncertainty, and inequality; and broad rejection of the status quo. 

Brad DeLong's Slouching Towards Utopia: An Economic History of the Twentieth Century (Basic Books, 2022) tells the story of how this unprecedented explosion of material wealth occurred, how it transformed the globe--and why it failed to deliver us to utopia. Of remarkable breadth and ambition, it uncovers the last century to have been less a march of progress than a slouch in the right direction.

Javier Mejia is a Postdoctoral Research Fellow at the Political Science Department at Stanford University.