• Jan Eeckhout, "The Profit Paradox: How Thriving Firms Threaten the Future of Work" (Princeton UP, 2021)
    Jul 29 2024
    It is a truth universally acknowledged that as a society we want successful, profitable companies because, as Jan Eeckhout says in The Profit Paradox: How Thriving Firms Threaten the Future of Work (Princeton UP, 2021), “we tend to accept that when firms do well, the economy does well”, even when that's not true. The rising tide, in some cases, does not lift all boats. Even when a few strong players have outsized gains, the rest of the market can suffer. These trends have a ripple effect over time that effectively separate economic winners, who keep an increasingly large share of benefits, from economic losers who struggle to compete, let alone maintain the standard of living achieved by their parents. In this book, Jan Eeckhout documents how a small number of large firms have been able to gain tremendous market power through a variety of mechanisms such as price manipulation, outsourcing, and leveraging new technical innovations. None of these are inherently wrong, but when used by powerful companies to reduce or eliminate potential competition, they lead to inefficient markets that weaken society. It is a case of excessive success, as companies narrowly focus on defending and increasing their profits without significant consideration for the externalities or unintended consequences of these market failures. Eeckhout presents an optimistic outlook of how we can retain the extensive advantages of economic growth while reversing some of these more dangerous trends. His recommendations for the future include leveraging what we've learned from prior generations who faced similar challenges, and building on the incredible technical innovations that have characterized the last few decades, including recent breakthroughs in artificial intelligence. Recommended reading: The Wisdom of Crowds by James Surowiecki. 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 hr and 11 mins
  • Lucia Hulsether, "Capitalist Humanitarianism" (Duke UP, 2023)
    Jul 21 2024
    The struggle against neoliberal order has gained momentum over the last five decades – to the point that economic elites have not only adapted to the Left's critiques but incorporated them for capitalist expansion. Venture funds expose their ties to slavery and pledge to invest in racial equity. Banks pitch microloans as a path to indigenous self-determination. Fair-trade brands narrate consumption as an act of feminist solidarity with women artisans in the global South. In Capitalist Humanitarianism (Duke UP, 2023), Lucia Hulsether examines these projects and the contexts of their emergence. Blending historical and ethnographic styles, and traversing intimate and global scales, Hulsether tracks how neoliberal self-critique creates new institutional hegemonies that, in turn, reproduce racial and neocolonial dispossession. From the archives of Christian fair traders to luxury social entrepreneurship conferences, from US finance offices to Guatemalan towns flooded with their loan products, from service economy desperation to the internal contradictions of social movements, Hulsether argues that capitalist humanitarian projects are fueled as much by a profit motive as by a hope that racial capitalism can redeem the losses that accumulate in its wake. Lucia Hulsether is Assistant Professor of Religious Studies at Skidmore College. This episode’s host, Jacob Barrett, is currently a PhD student in the Department of Religious Studies at the University of North Carolina at Chapel Hill in the Religion and Culture track. For more information, visit his website thereluctantamericanist.com 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 hr and 13 mins
  • Matt Stoller, "Goliath: The 100-Year War Between Monopoly Power and Democracy" (Simon & Schuster, 2020)
    Jul 20 2024
    In Goliath: The 100-Year War Between Monopoly Power and Democracy (Simon & Schuster, 2019), Matt Stoller explains how authoritarianism and populism have returned to American politics for the first time in eighty years, as the outcome of the 2016 election shook our faith in democratic institutions. It has brought to the fore dangerous forces that many modern Americans never even knew existed. Today's bitter recriminations and panic represent more than just fear of the future, they reflect a basic confusion about what is happening and the historical backstory that brought us to this moment. The true effects of populism, a shrinking middle class, and concentrated financial wealth are only just beginning to manifest themselves under the current administrations. The lessons of Stoller's study will only grow more relevant as time passes. "An engaging call to arms," (Kirkus Reviews) Stoller illustrates here in rich detail how we arrived at this tenuous moment, and the steps we must take to create a new democracy. Matt Stoller is the Director of Research at the American Economic Liberties Project. Caleb Zakarin is the Assistant Editor of the New Books Network (Twitter: @caleb_zakarin). 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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    55 mins
  • Hamilton Nolan, "The Hammer: Power, Inequality, and the Struggle for the Soul of Labor" (Hachette Books, 2024)
    Jul 19 2024
    Inequality is America's biggest problem. Unions are the single strongest tool that working people have to fix it. Organized labor has been in decline for decades. Yet it sits today at a moment of enormous opportunity. In the wake of the pandemic, a highly visible wave of strikes and new organizing campaigns have driven the popularity of unions to historic highs. The simmering battle inside of the labor movement over how to tap into its revolutionary potential--or allow it to be squandered--will determine the economic and social course of American life for years to come. In chapters that span the country, Nolan shows readers the actual places where labor and politics meld. He highlights how organized labor can and does wield power effectively: a union that dominates Las Vegas and is trying to scale nationally; a successful decades-long campaign to organize California's child care workers; the human face of a surprising strike of factory workers trying to preserve their pathway to the middle class. Throughout, Nolan follows Sara Nelson, the fiery and charismatic head of the flight attendants' union, as she struggles with how (and whether) to assert herself as a national leader, to try to fix what is broken. The Hammer: Power, Inequality, and the Struggle for the Soul of Labor (Hachette Books, 2024) draws the line from forgotten workplaces in rural West Virginia to Washington's halls of power, and shows how labor solidarity can utterly transform American politics--if it can first transform itself. A labor journalist for more than a decade, Nolan helped unionize his own industry. The Hammer is a urgent on-the-ground excavation of the past, present, and future of the American labor movement. Hamilton Nolan is a labor journalist who writes regularly for In These Times magazine and The Guardian. He has written about labor, politics, and class war for The New York Times, the Washington Post, Gawker, Splinter, and other publications. He was the longest-serving writer in Gawker’s history, and was a leader in unionizing Gawker Media in 2015. Hamilton is a proud member of the Writers Guild of America, East. 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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    54 mins
  • David J. Hand, "Dark Data: Why What You Don't Know Matters" (Princeton UP, 2020)
    Jul 8 2024
    There is no shortage of books on the growing impact of data collection and analysis on our societies, our cultures, and our everyday lives. David Hand's new book Dark Data: Why What You Don't Know Matters (Princeton University Press, 2020) is unique in this genre for its focus on those data that aren't collected or don't get analyzed. More than an introduction to missingness and how to account for it, this book proposes that the whole of data analysis can benefit from a "dark data" perspective—that is, careful consideration of not only what is seen but what is unseen. David assembles wide-ranging examples, from the histories of science and finance to his own research and consultancy, to show how this perspective can shed new light on concepts as classical as random sampling and survey design and as cutting-edge as machine learning and the measurement of honesty. I expect the book to inspire the same enjoyment and reflection in general readers as it is sure to in statisticians and other data analysts. Suggested companion work: Caroline Criado Perez, Invisible Women: Data Bias in a World Designed for Men. Cory Brunson (he/him) is a Research Assistant Professor at the Laboratory for Systems Medicine at the University of Florida. 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 hr and 18 mins
  • Daniel Susskind, "Growth: A History and a Reckoning" (Harvard UP, 2024)
    Jul 3 2024
    Daniel Susskind examines the brief and powerful history of economic growth and puts it into perspective with human prosperity in Growth: A History and a Reckoning (Harvard UP, 2024). Susskind acknowledges the tremendous benefits of economic growth, which he credits with freeing billions of people from poverty and allowing us to live longer and healthier lives. He also recognizes the real and substantial costs of our relentless pursuit of growth at the expense of other considerations and moral challenges. Responding to the degrowth movement, Susskind counters the assumption that simply reducing growth will lead to better outcomes. In particular, Susskind points out that our key measure of growth, GDP, is one imperfect metric that is neither intended nor effective as a proxy for well-being. He recommends a more balanced "dashboard" approach that includes GDP along with other success measures. Reducing our myopic focus on GDP does not mean less growth. Susskind presents an alternate approach, arguing that we should continue to pursue growth through the creative application of new ideas that allow us to use our finite natural resources more effectively and efficiently. Ideas, he points out, are not a scarce asset but an infinite one; by shifting to focus on new ways of thinking and working Susskind shows how we can continue to pursue the benefits of growth while mitigating the high costs. Book referenced: GDP: A Brief but Affectionate History by Diane Coyle Recommended reading: Planting the Oudolf Gardens by Rory Dusoir 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 hr and 6 mins
  • Balihar Sanghera and Elmira Satybaldieva, "Rentier Capitalism and Its Discontents: Power, Morality and Resistance in Central Asia" (Palgrave MacMillan, 2021)
    Jul 2 2024
    Balihar Sanghera and Elmira Satybaldieva’s Rentier Capitalism and Its Discontents: Power, Morality and Resistance in Central Asia (Palgrave MacMillan, 2021) evaluates today’s economic political, social and ecological crises through the lens of rentier capitalism and countermovements in Central Asia. Over the last three decades, the rich and powerful have increased their wealth and political power to the detriment of social and environmental well-being. But their activities have not gone unchecked; grassroots activism has resisted the damaging effects of the neoliberal commodification of things. Providing a much-needed theorisation of the moral economy and politics of rent, this book offers in-depth case studies on finance, real estate and natural resources in Kazakhstan and Kyrgyzstan. The authors show the mechanisms of rent extraction, their moral justifications and legitimacy, and social struggles against them. This book not only offers insight into social and economic dynamics in Central Asia, but invites us all to interrogate what purpose, and whom, economies ultimately serve. Cholpon Ramizova is a London-based writer and researcher. She holds a Master's in Migration, Mobility and Development from SOAS, University of London. Her thematic interests are in migration, displacement, identity, gender, and nationalism - and more specifically on how and which ways these intersect within the Central Asia context. 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 hr and 7 mins
  • Work-from-Home is Here to Stay: Call for Flexibility in Post-pandemic Work Policies
    Jun 29 2024
    Listen to this interview of Darja Smite, Professor of Software Engineering at Blekinge Institute of Technology, Sweden, and also research scientist at SINTEF; and, Jarle Hildrum, Director, Deloitte Consulting, Norway; and also, Daniel Mendez, Professor of Software Engineering at Blekinge Institute of Technology, Sweden, and as well, Senior Scientist heading the research division Requirements Engineering at fortiss. We talk about their paper Work-from-home is here to stay: Call for flexibility in post-pandemic work policies (JSS 2023). Daniel Mendez : "Two key takeaways from our collective experience here are, No.1, figures don't need to be absolute — so, we should really focus on the essence of what we want to convey. And No.2, in terms of what we want to convey, I think that every figure ideally has one key message, one key takeaway." 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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    58 mins