New Books in Economics

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Joshua Specht, "Red Meat Republic: A Hoof-to-Table History of How Beef Changed America" (Princeton UP, 2019)
Why do Americans eat so much beef? In Red Meat Republic: A Hoof-to-Table History of How Beef Changed America (Princeton University Press, 2019), the historian Joshua Specht provides a history that shows how our diets and consumer choices remain rooted in nineteenth century enterprises. A century and half ago, he writes, the colonialism and appropriation of indigenous lands enabled the expansion of western ranch outfits. These corporate ranchers controlled loose commodity chains, until powerful corporate meat packers in Chicago seized the economic order through the tools of modern capitalism (scientific management, standardization, labor suppression). These capitalists expanded the supply chains to far-flung consumers in New York and around the globe. But as meat became a staple of the American diet, and measure of progress, consumers cared more about the price and taste than the violence to people, animals, and environment behind the scenes. “America made modern beef” Specht writes, “at the same time that beef made America modern.” Ryan Driskell Tate is a Ph.D. candidate in American history at Rutgers University. He is completing a book on fossil-fuels and energy development in the American West. He teaches courses on modern US history, environmental history, and histories of labor and capitalism. @rydriskelltate Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics
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Yong-Shik Lee, "Law and Development: Theory and Practice, 2nd edition" (Routledge, 2021)
Law and Development: Theory and Practice, 2nd edition (Routledge, 2021) examines the theory and practice of law and development. It introduces the General Theory of Law and Development, an innovative approach which explains the mechanisms by which law impacts development. This book analyzes the process of economic development in South Korea, South Africa, and the United States from legal and institutional perspectives. The book also explains why the concept of "development" is not only relevant to developing countries but to developed economies as well. The new edition includes five new chapters addressing the relationships between law and economic development in several key areas, including property rights, political governance, business transactions, state industrial promotion, and international trade and development. This interview covers the main themes of this book, covers some of his papers, the relationship of his work to other scholars, and serves as a foundation for understanding Dr. Lee’s work more broadly. His latest book, Sustainable Peace in Northeast Asia will be the subject of a second interview. Yong-Shik Lee is a scholar in law and development, and is currently Director of the Law and Development Institute and a Professor at West Virginia University. Dr. Lee graduated in economics from the University of California at Berkeley and received law degrees from the University of Cambridge. Previous books include Reclaiming Development in the World Trading System; Microtrade: A New System of Trade Toward Poverty Elimination; Law and Development Perspective on International Trade Law; and Safeguard Measures in World Trade: The Legal Analysis. His latest book, Sustainable Peace in Northeast Asia, was published by Anthem Press. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics
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1:15:53
Dan Davies, "The Unaccountability Machine: Why Big Systems Make Terrible Decisions—and How the World Lost Its Mind" (U of Chicago Press, 2025)
For this episode of Liminal Library, I interviewed Dan Davies about The Unaccountability Machine: Why Big Systems Make Terrible Decisions—and How the World Lost Its Mind (U Chicago Press, 2025). Davies examines how we've systematically engineered responsibility out of our institutions, creating a world where major decisions happen without clear human accountability. Davies draws on Stafford Beer's cybernetics to explain how modern organizations function as systems with their own patterns and responses. As he puts it, "the system is not conscious and so does not have incentives, but it has consistent patterns of response to stimuli." This isn't about individual moral failures – it's about the industrialization of decision-making itself. We've moved from Harry Truman's "The Buck Stops Here" to complex processes and standardized criteria that diffuse responsibility across multiple layers. When things go wrong – financial crises, environmental failures, social breakdowns – no single person can be held accountable because no single person actually made the decision. Davies traces this transformation through three revolutions: the managerial revolution that shifted control from owners to professional administrators, the cybernetic revolution that offered tools to understand these systems but never fully materialized, and the neoliberal revolution that reshaped society while ignoring that increasingly, systems rather than people make the decisions affecting our lives. These accountability machines, as Davies calls them, operate according to their own logic and constraints. Understanding them is essential for grasping why institutional failures seem both inevitable and impossible to prevent within our current frameworks. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics
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Peter Conti-Brown and Sean H. Vanatta, "Private Finance, Public Power: A History of Bank Supervision in America" (Princeton UP, 2025)
What does it mean to supervise a bank? And why does it matter who holds that power? In this episode, Sean H. Vanatta joins us to explore the hidden machinery behind American finance, as told in his new book Private Finance, Public Power: A History of Bank Supervision in America (Princeton UP, 2025), co-authored with Peter Conti-Brown. Spanning nearly 150 years, the book traces the evolution of bank supervision from a patchwork of state-level oversight to a complex, layered system involving federal agencies, private actors, and political discretion. Sean takes us from the wildcat banks of the 1830s to the rise of the Federal Reserve, through crises, reforms, and the quiet work of bank examiners who shaped the rules behind the scenes. We discuss why supervision differs from regulation, how discretion has become central to managing financial risk, and what the collapse of Silicon Valley Bank in 2023 reveals about the enduring tension between private profit and public responsibility. Along the way, Sean shares stories of forgotten institutions, colourful characters, and the surprising role of gender and civil rights in shaping financial oversight. Whether you're a policymaker, historian, or simply curious about how money and power interact, this conversation offers a fresh perspective on the institutions that quietly govern our financial lives. Tune in for a rich and engaging journey through the history and current state of banking politics.The interview on "Plastic Capitalism" is available here Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics
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Thane Gustafson, "Perfect Storm: Russia's Failed Economic Opening, the Hurricane of War and Sanctions, and the Uncertain Future" (Oxford UP, 2025)
Russia's invasion of Ukraine in 2022 brought a tragic close to a thirty-year period of history that began with the collapse of the Soviet Union and the reopening of Russia to the West after six decades of Soviet isolation. The opening lasted for three tumultuous decades and ended with a new closing, driven by the Ukrainian war, the imposition of Western sanctions, and the Russian responses to them. In Perfect Storm: Russia's Failed Economic Opening, the Hurricane of War and Sanctions, and the Uncertain Future (Oxford University Press, 2025), Russia analyst Thane Gustafson reinterprets the story of Russia's failed opening to the West, focusing on its economic, technological, and social aspects, and the role they played in its ultimate failure. These parallel events are essential for understanding what happened and what went wrong. Yet they have received much less attention than the military and geopolitical aspects of the current conflict. Gustafson tells the story of the West's entry into Russia, the arrival of Russians into the West, and the conflicting emotions and responses these aroused on both sides, contributing to the ultimate breakdown of relations and the unprecedented hurricane of Western sanctions. The book concludes with an examination of possible futures under a new generation of leaders. A measured and nuanced account of the evolution of Russia's economic relations with the world, Perfect Storm illuminates the longer history of Russia's opening to the West, from its achievements and disappointments to the complexity of the post-invasion sanctions regime and Russia's responses to them. Thane Gustafson is Professor of Government at Georgetown University. He is the author of many books, including Klimat (2021), The Bridge (2020), and Wheel of Fortune (2012). Caleb Zakarin is editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics
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