New Books in Economic and Business History

Up to Heaven and Down to Hell (Princeton UP, 2021) is a vivid and sometimes heartbreaking account of what happens when one of the most momentous decisions about the well-being of our communities and our planet--whether or not to extract shale gas and oil from the very land beneath our feet--is largely a private choice that millions of ordinary people make without the public's consent.

The United States is the only country in the world where property rights commonly extend up to heaven and down to hell, which means that landowners have the exclusive right to lease their subsurface mineral estates to petroleum companies. Colin Jerolmack spent eight months living with rural communities outside of Williamsport as they confronted the tension between property rights and the commonwealth. In this deeply intimate book, he reveals how the decision to lease brings financial rewards but can also cause irreparable harm to neighbors, to communal resources like air and water, and even to oneself.

Up to Heaven and Down to Hell casts America's ideas about freedom and property rights in a troubling new light, revealing how your personal choices can undermine your neighbors' liberty, and how the exercise of individual rights can bring unintended environmental consequences for us all.

Sebastián Rojas Cabal is a Ph.D. student in the Sociology Department at Princeton University.

Societies all over the world are getting older, the result of the fact that we are living longer and having fewer children. At some point in the near future, much of the developed world will have at least twenty percent of their national populations over the age of sixty-five. Bradley Schurman calls this the Super Age. Today, Italy, Japan, and Germany have already reached the Super Age, and another ten countries will have gone over the tipping point in 2021. Thirty-five countries will be part of this club by the end of the decade. This seismic shift in the world population can portend a period of tremendous growth--or leave swaths of us behind.

In The Super Age: Decoding Our Demographic Destiny (Harper Business, 2022), Schurman explains how changing demographics will affect government and business and touch all of our lives. Fewer people working and paying income taxes, due to outdated employment and retirement practices, could mean less money feeding popular programs such as Social Security and Medicare--with greater numbers relying on them. The forced retirement or redundancy of older workers could impact business by creating a shortage of workers, which would likely drive wages up and result in inflation. Corporations, too, must rethink marketing strategies--older consumers are already purchasing the majority of new cars, and they are a growing and vitally important market for health technologies and housing. Architects and designers must re-create homes and communities that are more inclusive of people of all ages and abilities.

If we aren't prepared for the changes to come, Schurman warns, we face economic stagnation, increased isolation of at-risk populations, and accelerated decline of rural communities. Instead, we can plan now to harness the benefits of the Super Age: extended and healthier lives, more generational cooperation at work and home, and new markets and products to explore. The choice is ours to make.

Galina Limorenko is a doctoral candidate in Neuroscience with a focus on biochemistry and molecular biology of neurodegenerative diseases at EPFL in Switzerland. To discuss and propose the book for an interview you can reach her at [email protected].

What can years of ethnographic engagement with rural Indonesia teach us about capitalism, development, and resistance? On this episode of Ethnographic Marginalia, our guest is Dr. Tania Li, Professor of Anthropology at the University of Toronto. Tania tells us about three decades of research on development programs, local activism, and class formation in rural Indonesia. She talks about her own frustrations as a development practitioner led her to study development programs for the book The Will to Improve. She then describes how research over 20 years on how families’ lives changed with the introduction of capitalist relations in rural Indonesian highlands led to her next book, Land’s End. Finally, she explains the collaborative methodology behind her new book Plantation Life: Corporate Occupation in Indonesia's Oil Palm Zone (Duke UP, 2021), co-authored with Pujo Semedi. She talks about the insights that emerged from their different perspectives and positionality, how they used the project to inspire a whole generation of Indonesian anthropologists, and their joint efforts to avoid a colonial dynamic in their writing process.

Alex Diamond is a Ph.D. candidate in sociology at the University of Texas, Austin. Sneha Annavarapu is a postdoctoral researcher at the University of Chicago.

Heroic science. Chaotic politics. Billionaire entrepreneurs. Award-winning journalist Brendan Borrell brings the defining story of our times alive through compulsively readable, first-time reporting on the players leading the fight against a vicious virus. The First Shots: The Epic Rivalries and Heroic Science Behind the Race to the Coronavirus Vaccine (Mariner Books, 2021), soon to be the subject of an HBO limited series with superstar director and producer Adam McKay (Succession, Vice, The Big Short), draws on exclusive, high-level access to weave together the intense vaccine-race conflicts among hard-driving, heroic scientists and the epic rivalries among Washington power players that shaped 18 months of fear, resolve, and triumph.

From infectious disease expert Michael Callahan, an American doctor secretly on the ground in Wuhan in January 2020 to gauge the terrifying ravages of Disease X; to Robert (Dr. Bob) Kadlec, one of Operation Warp Speed’s architects, whose audacious plans for the American people run straight into the buzz saw of the Trump White House factions; to Stéphane Bancel of upstart Moderna Therapeutics going toe-to-toe with pharma behemoth Pfizer, The First Shots lays bare, in a way we have not seen, the full stunning story behind the medical science “moon shot” of our lifetimes.

Galina Limorenko is a doctoral candidate in Neuroscience with a focus on biochemistry and molecular biology of neurodegenerative diseases at EPFL in Switzerland. To discuss and propose the book for an interview you can reach her at [email protected].

During World War I, the British Empire enlisted half a million young men, predominantly from the countryside of Egypt, in the Egyptian Labor Corps (ELC) and put them to work handling military logistics in Europe and the Middle East. British authorities reneged on their promise not to draw Egyptians into the war, and, as Kyle Anderson shows, the ELC was seen by many in Egypt as a form of slavery. The Egyptian Labor Corps: Race, Space, and Place in the First World War (U Texas Press, 2021) tells the forgotten story of these young men, culminating in the essential part they came to play in the 1919 Egyptian Revolution. 

Combining sources from archives in four countries, Anderson explores Britain’s role in Egypt during this period and how the ELC came to be, as well as the experiences and hardships these men endured. As he examines the ways they coped—through music, theater, drugs, religion, strikes, and mutiny—he illustrates how Egyptian nationalists, seeing their countrymen in a state akin to slavery, began to grasp that they had been racialized as “people of color.” Documenting the history of the ELC and its work during the First World War, The Egyptian Labor Corps also provides a fascinating reinterpretation of the 1919 revolution through the lens of critical race theory.

Christopher S. Rose is a social historian of medicine focusing on Egypt and the Eastern Mediterranean in the 19th and 20th century. He currently teaches History at St. Edward's University in Austin, Texas and Our Lady of the Lake University in San Antonio, Texas.

Tracing the dramatic conflicts both inside organized medicine and between the medical profession and the larger society over quality, equality, and economy in health care, Peter A. Swenson illuminates the history of American medical politics from the late nineteenth century to the present. Disorder: A History of Reform, Reaction, and Money in American Medicine (Yale UP, 2021) chronicles the role of medical reformers in the progressive movement around the beginning of the twentieth century and the American Medical Association’s dramatic turn to conservatism later. Addressing topics such as public health, medical education, pharmaceutical regulation, and health-care access, Swenson paints a disturbing picture of the entanglements of medicine, politics, and profit seeking that explain why the United States remains the only economically advanced democracy without universal health care. Swenson does, however, see a potentially brighter future as a vanguard of physicians push once again for progressive reforms and the adoption of inclusive, effective, and affordable practices.

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.

This collection of articles, edited by Matthew Romaniello, Alison Smith,  Tricia Starks, takes up the history of material culture over the past several centuries of Russian history. Widely diverse objects such as maps, textiles, building materials, cigarette cases,fish guts (yes...), samovars, samizdat, and even the T-34 tank are viewed in light of their role in Russian society. Hence the collection's striking and unusual title: The Life Cycle of Russian Things: From Fish Guts to Faberge, 1600 to the Present (Bloomsbury Academic, 2022).  

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 at https://strategicdividendinves...

In Nature′s Evil: A Cultural History of Natural Resources (Polity Press, 2021), Alexander Etkind views the history of humankind through the prism of natural resources – how we acquire them, use them, value them, trade them, exploit them. History needs a cast of characters, and in this story the leading actors are peat and hemp, grain and iron, fur and oil, each with its own tale to tell.

The uneven spread of available resources was the prime mover for trade, which in turn led to the accumulation of wealth, the growth of inequality and the proliferation of evil. Different sorts of raw material have different political implications and give rise to different social institutions. When a country switches its reliance from one commodity to another, this often leads to wars and revolutions. But none of these crises goes to waste – they all lead to dramatic changes in the relations between matter, labour and the state.

Our world is the result of a fragile pact between people and nature. As we stand on the verge of climate catastrophe, nature has joined us in our struggle to distinguish between good and evil. And since we have failed to change the world, now is the moment to understand how it works.

Galina Limorenko is a doctoral candidate in Neuroscience with a focus on biochemistry and molecular biology of neurodegenerative diseases at EPFL in Switzerland. To discuss and propose the book for an interview you can reach her at [email protected].

Following World War II the American government and philanthropic foundations fundamentally remade American universities into sites for producing knowledge about the world as a collection of distinct nation-states. As neoliberal reforms took hold in the 1980s, visions of the world made popular within area studies and international studies found themselves challenged by ideas and educational policies that originated in business schools and international financial institutions. Academics within these institutions reimagined the world instead as a single global market and higher education as a commodity to be bought and sold. By the 1990s, American universities embraced this language of globalization, and globalization eventually became the organizing logic of higher education. 

In Making the World Global: U.S. Universities and the Production of the Global Imaginary (Duke UP, 2019), Isaac A. Kamola examines how the relationships among universities, the American state, philanthropic organizations, and international financial institutions created the conditions that made it possible to imagine the world as global. Examining the Center for International Studies, Harvard Business School, the World Bank, the Social Science Research Council, and NYU, Kamola demonstrates that how we imagine the world is always symptomatic of the material relations within which knowledge is produced.

Dr. Kamola is currently an Associate Professor of Political Science and President of the American Association of University Professors (AAUP) chapter at Trinity College in Hartford, Connecticut.

Sara Katz is a postdoctoral associate in the history department at Duke University.

Diaspora’s Homeland: Modern China in the Age of Global Migration (Duke University Press, 2018) by Shelly Chan provides a broad historical study of how the mass migration of more than twenty million Chinese overseas influenced China’s politics, economics, and culture. Chan develops the concept of “diaspora moments” – a series of recurring disjunctions in which migrant temporalities come into tension with local, national, and global ones – to map the multiple historical geographies in which the Chinese homeland and diaspora emerge. Chan describes several distinct moments, including the lifting of the Qing emigration ban in 1893 and the legacy of indentured Chinese migration to the Americas, intellectual debates in the 1920s and 1930s about whether Chinese emigration in the South China Seas (Nanyang) and Southeast Asia constituted colonization and whether Confucianism should be the basis for a modern Chinese identity. She also looks at the intersection of gender, returns to China of displaced Chinese from Southeast Asia, and Communist campaigns in the 1950s and 1960s. Adopting a transnational frame, Chan narrates Chinese history through a reconceptualization of diaspora to show how mass migration helped establish China as a nation-state within a global system.

Shelly Chan is an associate professor of history at the University of California, Santa Cruz, specializing in modern China and the Chinese diaspora.

Shatrunjay Mall is a PhD candidate at the Department of History at the University of Wisconsin-Madison. He works on transnational Asian history, and his dissertation explores intellectual, political, and cultural intersections and affinities that emerged between Indian anti-colonialism and imperial Japan in the twentieth century.