New Books in Economic and Business History

Empire of Poverty: The Moral-Political Economy of the Spanish Empire (Oxford University Press, 2024) by Dr. Julia McClure examines how changing concepts of poverty in the long-sixteenth century helped shape the deep structures of states and empires and the contours of imperial inequalities. While poverty is often understood to have become a political subject with the birth of political economy in the eighteenth century, this book points to the longer history of poverty as a political subject and a more complicated relationship between moral and political economies. It focuses upon the critical transformations taking place in the long-sixteenth century, with the emergence of the world´s first global empire and the development of colonial capitalism.

The book explores how the 'moral-political economy of poverty' - defined as a new and changing conceptualisation of and approach to poverty, across laws, institutions, and acts of resistance - played a critical role in the development and governance of the Spanish Empire. In so doing it offers insights into the negotiated nature of sovereignty, the construction of inequalities, and strategies of resistance. Empire of Poverty explains how the combined processes of the transition to global capitalism and imperialism in the long-sixteenth century wrought a moral crisis which led to the transformation of poverty and reconceptualization of the poor and how the newly emerging beliefs, laws, and institutions of poverty helped structure the inequalities of the new global order.

This interview was conducted by Dr. Miranda Melcher whose book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. You can find Miranda’s interviews on New Books with Miranda Melcher, wherever you get your podcasts.

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The Silk Road may be the most famous trade network in history. But the flow of silk from China to the Middle East and Europe isn’t the only textile trade that’s made its mark on Central Asia, the subject of Chris Aslan’s latest book Unravelling the Silk Road: Travels and Textiles in Central Asia (Icon Books, 2024), recently published in paperback.

Drawing on over a decade’s worth of experience in countries like Uzbekistan and Kyrgyzstan, Aslan notes that there’s really three “roads”: In addition to the famed Silk Road, there’s also the Wool Road, tied to nomads across Central Asia, and the Cotton Road, a modern-day source of economic growth–and environmental damage.

You can find more reviews, excerpts, interviews, and essays at The Asian Review of Books, including its review of Unravelling the Silk Road. Follow on Twitter at @BookReviewsAsia.

Nicholas Gordon is an editor for a global magazine, and a reviewer for the Asian Review of Books. He can be found on Twitter at@nickrigordon.

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Today I interviewed Charles Hecker about Zero Sum. The Arc of International Business in Russia (Oxford UP, 2025).

Hecker, a journalist and business consultant, speaks with dozens of Western business executives, bankers, and financiers who reaped immense profits for themselves and their companies in the Russian market, which suddenly opened to foreigners after decades of state planning and economic autarky.

These “riskophile” Westerners recall the early post-Soviet Russia as an unchartered territory where business “had a body count” and “violence was cheap, routine and almost casual”.

In the 2000s Russia, now stabilized by Putin, offered unparalleled opportunities for those who had learnt to navigate its murky, gray environment.

While some expressed concern over the unchallenged primacy of the supreme ruler presiding over arbitrary redistribution of property in favor of his cronies and the rapid consolidation of state ownership, the squeamish were far outnumbered by the opportunistic.

Following Russia’s large-scale invasion of Ukraine in February 2022 and the subsequent imposition of sweeping Western sanctions forced most Westerners to flee, often selling their companies for a fraction of their value and, in some cases, even giving it for free to their Russian partners.

Looking back some regret “looking the other way” at the rampant corruption and lawlessness, while others admit that enrichment in Russia was always destined to be short-lived.

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Embodying Normalcy: Women’s Work in Neoliberal Times (Lexington Books, 2024) calls attention to how women in the United States do a type of unpaid work to embody the latest trends for the purpose of achieving success in neoliberal culture. Using TLC reality shows, lifestyle and beauty influencers, Brazilian butt lift TikToks, and celebrities like Kim Kardashian as her archive, Lucia Soriano delivers four case studies that draw on gender studies, media studies, disability studies, and American studies to illustrate how the prerequisite for women to succeed in neoliberal culture calls for them to treat their bodies as projects that must be transformed every day.

Author Lucia Soriano is assistant professor in women’s, gender, and sexuality studies and ethnic studies at Albion College.

The episode is hosted by Ailin Zhou, PhD student in Film & Digital Media at University of California - Santa Cruz.

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In Driven: The Race to Create the Autonomous Car (Simon & Schuster, 2022), Alex Davies tells the enlightening and significant story of the effort to create driverless cars and the intense competition among tech heavyweights such as Google, Uber, and Tesla to move this technology forward. Autonomous vehicles (AVs) have been one of the most hyped technologies of recent years, but early promises that they would quickly become common place have not borne fruit. Alex Davies set forth the twisted paths of this technology’s evolution from its genesis to the current moment. The idea began with the Defense Advanced Research Projects Agency (DARPA), which aimed to create a land-based equivalent to the drone, a vehicle that could operate in war zones without risking human lives. DARPA established “Grand Challenges” that enticed future-oriented thinkers including amateurs and students to help drive the technology from fantasy to reality. Carnegie-Mellon University and other universities played a major role. The technology got the attention of Silicon Valley companies like Google and Uber. Next arriving were the major US automakers, GM and Ford, who initiated their programs of their own to commercialize the technology, and Chinese companies also showed an intense interest. As road testing went forward, however, the challenges became far more apparent. The difficulties of traversing diverse terrains under varying weather conditions without a driver came out to be far more daunting than expected. Progress was made but in no way as fast as the developers of the technology hoped. The early enthusiasm of the key players dissipated as they came to realize that AI-assisted driverless transportation faced formidable barriers. This book provides fabulous insights into the key characters in this story and how they struggled with a technology that was not ready for rush-hour driving It is a fast-paced, exciting account of how autonomous technology emerged, the main players, the conflicts between companies, and state of the technology today. The book provides the reader with a genuine feel for how real happens. The writing is fantastic because of the emphasis on that details that come from the many conversations that Davies had with people at the center of the story.

Hosted by Alfred Marcus, Edson Spencer Professor of Strategy and Technology University of Minnesota Carlson School of Management.

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Tens of millions of children in the United States participate in youth sport, a pastime widely believed to be part of a good childhood. Yet most children who enter youth sport are driven to quit by the time they enter adolescence, and many more are sidelined by its high financial burdens. Until now, there has been little legal scholarly attention paid to youth sport or its reform. In More Than Play: How Law, Policy, and Politics Shape American Youth Sport (University of California Press, 2025) Dr. Dionne Koller sets the stage for a different approach by illuminating the law and policy assumptions supporting a model that puts children's bodies to work in an activity that generates significant surplus value. In doing so, she identifies the wide array of beneficiaries who have a stake in a system that is much more than just play—and the political choices that protect these parties' interests at children's expense.

This interview was conducted by Dr. Miranda Melcher whose book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. You can find Miranda’s interviews on New Books with Miranda Melcher, wherever you get your podcasts.

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The Chinese Communist Party’s complex and contradictory embrace of capitalism has played a pivotal role in shaping China’s economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping’s recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China’s economic trajectory and its global trade relationships.

Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute’s China Economic Watch blog, the co-founder of the Federal Reserve’s Pacific Exchanges blog and podcast, and the founder of Seafarer’s Prevailing Winds blog.

His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions.

Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master’s degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute.

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This book from Cambridge University Professor Tim Minshall provides an enlightening view of how the world of manufacturing world has an immense influence on our lives. We all reside in a world of multiple manufactured products, which include our clothing, food, furniture, electronics, automobiles, and so many other products upon which we rely, including commercial aviation, pharmeceuticals, baked good, and medical devices.

Nonetheless, the processes by which these items are made and enter our lives are nearly unknown to us. How often do we think about from where these items come, how they are made, and how they come into our lives?

Professor Minshall delivers answers in How Things Are Made: A Journey Through the Hidden World of Manufacturing (Ecco, 2025). The book traces the amazing paths that everyday products take to enter our lives, showing how products are designed, delivered, and assembled in small shops and giant factories throughout the work. The book depicts the role that global shipping hubs plays as well as the role that home delivery is playing in providing us with the products we want and upon which we depend. The book also delves into the important question of how we can improve the resiliency of the global manufacturing system. What makes the book special is that Professor Minshall pays substantial attention to the impacts of global manufacturing on nature and on how we can move to a more sustainable future.

Brimming with vitality and sparkling examples, this book depicts the grand system of global of manufacturing that allows us to have all the products we need for virtually every aspect of our existence. By making sense of this astonishing and largely concealed world, Professor Minshall is enabling us to make better choices for ourselves, our communities, and the planet.

Alfred Marcus is Edson Spencer Professor Chair of Strategy and Technology Leadership at the Carlson School of Management, University of Minnesota.

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Drawing together the evidence of archaeology, palaeoecology, climate history and the historical record, this first environmental history of Scotland explores the interaction of human populations with land, waters, forests and wildlife.

A Land Won From Waste: Scotland AD 400–1400 (John Donald/Birlinn, 2025) by Professor Richard Oram takes the reader from the climatic highs of the Late Iron Age to the depths of the war-torn and plague-ravaged fourteenth century. Departing from traditional frameworks that divide Scotland’s history into periods based on kings’ reigns or major political events, discussion instead follows the major shifts in climate that divide these fourteen centuries into epochs, each with its own distinct characteristics. Starting amidst the fields and forests shaped across the eight millennia of Scotland’s prehistory, where we encounter the imprint of past generations of hunters and gatherers, farmers and fishermen, as well as the legacies of climate impacts and pathogens, the book explores the depths of the Late Antique Little Ice Age and the long climb back to the ‘Golden Age’ of the twelfth- and thirteenth-century Medieval Climate Anomaly, to end with the slide through crop-failure, famine, war and disease of what is reputed to be the ‘worst century in human history’.

Also listen to Dr. Oram’s previous New Books Network interview on the “sequel” to this book, covering the period 1400-1850: Where Men No More May Reap or Sow: The Little Ice Age.

 This interview was conducted by Dr. Miranda Melcher whose book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. You can find Miranda’s interviews on New Books with Miranda Melcher, wherever you get your podcasts.

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The Texture of Change: Dress, Self-Fashioning, and History in Western Africa, 1700 – 1850 (Ohio UP, 2024) examines historical change across a broad region of western Africa—from Saint Louis, Senegal, to Freetown, Sierra Leone—through the development of textile commerce, consumption, and dress. Indigo-dyed and printed cotton, wool, linen, and silk cloths constituted major trade items that linked African producers and consumers to exchange networks that were both regional and global. While much of the historiography of commerce in Africa in the eighteenth century has focused on the Atlantic slave trade and its impact, this study follows the global cloth trade to account for the broad extent and multiple modes of western Africa’s engagement with Europe, Asia, and the Americas.

Jody Benjamin analyzes a range of archival, visual, oral, and material sources drawn from three continents to illuminate entanglements between local textile industries and global commerce and between the politics of Islamic reform and encroaching European colonial power. The study highlights the roles of a diverse range of historical actors mentioned only glancingly in core-periphery or Atlantic-centered framings: women indigo dyers, maroon cotton farmers, petty traveling merchants, caravan guides, and African Diaspora settlers. It argues that their combined choices within a set of ecological, political, and economic constraints structured networks connecting the Atlantic and Indian Ocean perimeters.

Jody Benjamin is a social and cultural historian of western Africa with expertise in the period between 1650 and 1850. His research is informed by a methodological concern to center the diverse experiences and perspectives of Africans in ways that transcend the limitations of the colonial archive.

In broad terms, Prof. Benjamin’s scholarship interrogates the multiple connections between west African, African diaspora and global histories through the lens of material culture, technology, labor, gender and race to reshape how historians think about western Africa’s role in the history of global capitalism and its connections to contemporary questions of global inequality.

Dr. Benjamin’s work has been supported by the National Endowment for the Humanities (NEH), the University of California Regents, University of California Humanities Research Initiative (UCHRI), the Hellman Fellows Fund, and the John Carter Brown Library at Brown University. From 2022-2023, he was the Principal Investigator for a Mellon Sawyer Seminar, “Unarchiving Blackness,” exploring archival practices in African and African Diaspora Studies. Prior to Howard University, Dr. Benjamin taught at the University of California, Riverside.

You can learn more about his work here.

Afua Baafi Quarshie is a Ph.D. candidate in history at the Johns Hopkins University. Her research focuses on mothering and childhood in post-independence Ghana.

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