New Books In Economics

⁠How Low Interest Rates Change the World: Global Trends Caused by Low Rates and Emerging Factors Shaping the Future of Rates⁠ (Oxford UP, 2025) explores the societal impact of changing interest rates. Taking its starting point in the remarkable four-decade decline in global interest rates from 1980 to 2020, the book examines five global trends it caused, the underlying factors that drove interest rates lower, and emerging trends likely to shape the future path of interest rates. The book contends that the steady decline in interest rates around the world from 1980 to 2020 played a pivotal role in shaping five significant global trends during the same period: soaring debt levels, escalating housing prices, surging stock markets, widening economic inequality, and increased financial risk-taking. The book also explores emerging factors likely to shape the future trajectory of interest rates. While demographic trends may keep rates low, other forces, such as rising public debt, can push them higher. The book of

In a world shaken by crises, why does the dollar continue to dominate? In Dollar Dominance: Why It Rules the Global Economy and How to Challenge It (Policy Press, 2025) Photis Lysandrou explores the interaction between global instability and the enduring strength of the dollar. Drawing on examples from the 2008 Great Financial Crisis to the COVID-19 pandemic and Russia's invasion of Ukraine, the author reveals how uncertainty and instability in global trade, production and politics drives investors towards the safety of the dollar, reinforcing its dominance over other currencies. With clear and insightful analysis, Lysandrou reveals the true global financial foundations of dollar dominance, and lays out what it would take for other currencies such as the Euro to challenge its position Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In an ever-shifting work landscape, leaders can no longer ignore their most overlooked stakeholders—their employees. In The Employee Advantage: How Putting Workers First Helps Business Thrive (PublicAffairs, 2024), behavioral economist Stephan Meier explains why organizations must value their employees as much as—if not more than—their customers: those that pivot toward an employee-centric model will be more profitable, innovative, and appealing to top talent. Through case studies of Fortune 500 companies like Costco, DHL, and Best Buy as well as smaller organizations, Meir shows why employees care about more than just money when it comes to their jobs—the same way customers care about more than just price, what mindset shifts are essential to becoming an employee-centric workplace, and how improving the employee experience benefits the business and bottom line. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcas

Epochal Crisis: The Exhaustion of Global Capitalism (Cambridge UP, 2025) is the most recent book from Professor William Robinson, Distinguished Professor of Sociology at the University of California, Santa Barbara. This title is the latest in excellent and ground-breaking titles from Professor Robinson in a distinguished career, where he began writing books on United States intervention into Nicaragua in the late 1980s and early 1990s, expanding this focus on United States hegemony more broadly in the ground-breaking book Promoting Polyarchy in 1996, up to then grappling with the totality of the capitalist world system more recently in titles such as The Global Police State in 2020, Can Global Capitalism Endure in 2022, and War, Global Capitalism and Resistance in 2024, alongside many other books. Professor Robinson’s latest instalment we discuss in this episode, Epochal Crisis, tracks the multifactorial crises that are impacting the global capitalist system today, across economic, social, ecological, polit

The U.S. dollar is the world’s most important currency. Trade is priced in dollars, the world’s central banks keep U.S. dollars in reserve, some places–including my home of Hong Kong, peg their currencies to the dollar. But what explains the U.S. dollar’s success? And why have some challengers, like the Japanese yen or the Chinese yuan, failed to gain traction? Paul Blustein, author of King Dollar: The Past and Future of the World's Dominant Currency, joins us on the show today; the book was released last year, and is now in paperback. In his book, Paul talks about how the U.S. dollar got to where it is today and punctures some of the myths surrounding dollar dominance–like the idea that the “petrodollar” made a difference. Paul is a senior associate with the Economics Program and Scholl Chair in International Business at the Center for Strategic and International Studies (CSIS). He is also the author of several critically acclaimed books about global economic affairs. A graduate of the University of Wiscon

For more than two centuries, economists and researchers have struggled with the conundrum of reconciling Adam Smith’s views on economics and ethics. While some held that Smith’s capitalism and free markets institutionalized selfishness, greed, inequality and injustice, others focused on his theory of the moral nature of all human persons and the application of conscience and self-restraint in capitalist activities. Adam Smith and Modern Economics: Reclaiming the Moral High Ground (de Gruyter, 2026) suggests that neither of these two conventional understandings alone is accurate and conducive to human flourishing. Smith put markets in the context of morality, observing that markets serve best when our moral sentiments are followed. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

How did an economic system that was the result of largely uncoordinated and unplanned individual decisions come to dominate our modern world? This is the core question that my guest, Berkeley economic historian Trevor Jackson, tries to answer in his new book, The Insatiable Machine: How Capitalism Conquered the World (Norton, 2026). Jackson begins with the origins of the global monetary system in the fifteenth century and ends in the early twentieth century, when capitalism faced its most serious challenges from communism and socialism. While wage labor and financial instruments like loans and stocks feel unremarkable today, he reminds us that “it wasn’t always this way.” Capitalism is not natural, timeless, or inevitable. Trevor Jackson is an economic historian at the University of California, Berkeley. He previous book, Impunity and Capitalism: The Afterlives of European Financial Crises, 1690–1830, was published by Cambridge University Press in 2022. Steven P. Rodriguez is a scholarly publishing professi

Hello! Thanks for reaching out. I'm glad you're here! Do you have any questions or thoughts about the recent discussion with Karen Hao on AI and its societal impacts?Hello! Thanks for reaching out. I'm glad you're here! Do you have any questions or thoughts about the recent discussion with Karen Hao on AI and its societal impacts? Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The Fragile Dragon offers a unique exploration of China's rapid transformation and its evolving commercial relationship with the West. Drawing on the author's experience as president of the American Chamber of Commerce under Presidents Obama, Trump, and Biden, the book examines key business and political developments from both Western and Chinese perspectives. The narrative intertwines the story of his family -- including an opium addict, an American codebreaker, and a Chinese revolutionary -- with broader geopolitical themes. As an American businessman of Chinese ancestry, the author had firsthand access to leaders on both sides and provides insightful analysis on why tensions between the US and China have escalated, threatening global commerce and stability. Finally, the author offers guidance on how business people can think about China, and what it takes to succeed, whether it's navigating the narrow corridor between what China wants and what the US will allow, partnering with rather than competing agains

How many times have you wanted to object, disagree, or opt out of something but ended up swallowing your words, shaking your head, and just going along? Featuring groundbreaking research, gripping stories, and easy everyday strategies, Defy reveals how to show up for yourself and others personally, professionally, and beyond. Sah’s data-driven approach shows why everyone needs the power of defiance and how to build this essential skill. In a moment when we are anxious and unsure what to do—whether we’re confronting injustice on a social scale or facing something closer to home—here are strategies to activate your values. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In this sixth episode of Season 5, I interview Mr. Chris Griswold. An alum of Wheaton College and Princeton Theological Seminary, he was formerly a senior advisor to then Senator Marco Rubio, and is currently the Policy Director for American Compass—a leading center-right public policy think-tank. Recently, he contributed to the book, The New Conservatives (2025), an anthology edited by his colleague, Oren Cass, that re-articulates a conservative economic vision for the country. Drawing on it, we discuss the crisis of America’s political economy, from questions surrounding current AI, automation, and the end of free trade; political instability and populism; how economic policy can best serve American workers and families; and what makes us hopeful for the country’s future during its 250th anniversary. Hosted by Ryan Shinkel, Madison’s Notes is the podcast of Princeton University’s James Madison Program in American Ideals and Institutions. The transcript for this interview is available on our new Substack p

Today I have the pleasure of speaking with Gary Hoover about his new book, Ladder or Lottery: Economic Promises and the Reality of Who Gets Ahead (University of California Press, 2026). Gary is Professor of Economics and Executive Director of the Murphy Institute at Tulane University. One of the most challenging aspects of life is that sometimes, despite our very best efforts, we still miss the mark. Life can feel like a lottery, where success comes down to luck or the privilege to have the resources to buy as many lottery tickets as possible. For some, life appears like a ladder. No matter where you start, all you need to do is climb to get to the top. These metaphors encapsulate the dilemmas explored by Gary in his important work, as he examines in a variety of case studies whether economic conditions look more like a ladder or more like a lottery. When enough people feel that the system is more like a lottery than a ladder, social order breaks down, protests erupt, and, on occasion, revolutions take place.

The volume addresses issues of security and risk in economic and business history. A focus lies on the study of security in order to highlight the central role of preventive measures, corresponding corporate strategies, (public) demands for measures to promote security, and the conscious avoidance of actions considered risky. It is less on questions of risk avoidance and more on the analysis of decisions and strategies for creating stability and averting potential threats. The book aims at understanding how these security-oriented interventions and forward-looking approaches have shaped economy and businesses.With contributions by Dolly Afoumba | Anna Corsten | Marie Huber | Nina Kleinöder | Christian Kleinschmidt | Andreas Langenohl | Christian Marx | Cornelia Sahling | Tim Salzer | Tonio SchwertnerThis title is also available as open access. https://www.nomos-shop.de/en/p/security-and-risk-gr-978-3-7560-3577-9 Interview host, Paula de la Cruz-Fernández Learn more about your ad choices. Visit megaphone.fm

Decolonization has long been debated across the social sciences, but the economics discipline has so far avoided such critical engagement. Decolonizing Economics: An Introduction (Polity, 2024) provides a much-needed intervention.Dutt, Alves, Kesar, and Kvangraven uncover the deeply Eurocentric foundations that shape how economists study the world today. These have rendered the discipline ill-equipped to tackle critical questions, such as structural racism, uneven development, the climate crisis, labour relations, and how structural power shapes economic outcomes. Decolonizing economics entails challenging the norms of neutrality and objectivity that economists claim to speak from, while fostering alternative ways of understanding the economy that take seriously structural power relations and contemporary processes of economic development. Readers will come to understand the political stakes of decolonization and the wide range of scholarship that already exists that can help us grasp economics from non-Euro

We chat with historian David Kirsch, Associate Professor of Management and Entrepreneurship at University of Maryland's Robert H. Smith School, about how to understand the Dot Com bubble and bust of the late 1990s and early 2000s. David both lived through the Dot Com moment as a California resident and is a scholar of technology bubbles, including through his coauthored book, Bubbles and Crashes: The Boom and Bust of Technological Innovation (Stanford University Press, 2019). We talk to him about how to think about past and contemporary bubbles from both personal and professional historical perspectives. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Doubts about the international dominance of the dollar are only growing amid worries about tariffs, political dysfunction, and fraying international alliances. Will the dollar continue to reign supreme? In Money Beyond Borders, the leading authority on international currencies, Barry Eichengreen, puts the dollar's prospects in deep historical perspective by chronicling the entire history of cross-border currencies, from the invention of coins in the seventh century BCE to the cryptocurrencies of today and the central bank digital currencies of tomorrow. Money Beyond Borders: Global Currencies from Croesus to Crypto (Princeton University Press, 2026) recounts how Greek and Roman coins became the first true international currencies. It tells how the Florentine gold florin became the "greenback of the Renaissance," and how it was succeeded by Spanish silver and a Dutch fiat currency. The book explains why the British pound dominated the international economy in the nineteenth century, why the dollar rose to the

In a region known for its export of oil, Monarchies of Extraction: The Gulf States in the Global Food System (Cambridge UP, 2026) explores how the Gulf states are simultaneously defined by the importation of food. Charting the economics and politics of the Gulf through an examination of its food system, Christian Henderson demonstrates how these states constitute a distinct social metabolism within the global food system. Starting with the pre-oil phase, this book examines the politics of agrarian change in the Gulf. In the contemporary period, Henderson considers the way that the Gulf states have evolved into 'inverted farms', where the import of prodigious quantities of agricultural commodities has enabled these economies to overcome their lack of arable land. As a result of this trade, states such as the UAE and Saudi Arabia have developed their own agribusiness sectors. Henderson further shows how food and consumption in the Gulf states constitute political questions of diet, sustainability, and boycott.

It’s one of the biggest questions in economic history: How did a richer, more advanced China fall behind Europe? Why was Europe the home of the Industrial Revolution, and not China? And what does that journey tell us about politics and culture? In Two Paths to Prosperity: Culture and Institutions in Europe and China, 1000–2000 (Princeton UP, 2025), Guido Tabellini, alongside his co-authors, argues that the answer comes from how European and Chinese organized cooperation—through corporations in Europe and through clans in China—and how that shaped each one’s society. Guido Tabellini is the Intesa Sanpaolo Chair in Political Economics and Vice President at Bocconi University. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

John is joined by the brilliant and affable Paul Kramer of Vanderbilt (The Blood of Government) to discuss Capitalism: A Global History (Penguin, 2025) by Sven Beckert, Laird Bell Professor of History at Harvard University. With Christine A. Desan (Recall This Book adores her) he is the co-director of the Program on the Study of Capitalism at Harvard University. This builds on his marvelous previous work about the global cotton trade. John wants to know about the importance of the state as money-maker and underpinner of markets. Paul asks about the key historical ruptures; the conversation goes back a millennium to traders in Aden and in China. Together Paul and Sven speculate on the role violence plays inside the “free” market that capitalist exchange established and now somewhat remarkably sustains. The singular turning-point of the late 19th century (which Sven decided to present in three interwoven chapters) comes in for sustained attention. Mentioned in the Episode Christine Desan, Making Money: Co

The Political Economy of Oil in Venezuela: Class Conflict, the State, and the World Market (Brill, 2026) is the latest book from Dr. Kristin Ciupa, Associate Professor of Sociology at the University of Regina. Published with Brill, this book provides a detailed and engaging account of the historical development of Venezuela’s political economy and interrelated oil industry. The book takes us from Venezuela prior to the advent of oil discovery where the economy was dependent on a limited range of export-oriented agricultural crops, all the way up to the Bolivarian government project instituted by Hugo Chavez. Of course, Venezuela has been at the centre of political turmoil at present, and it is crucial to get a strong, historical understanding of Venezuela’s political economy, connected as it is with broader regional and global developments, to more concretely comprehend the current moment. Ciupa situates Venezuela within not only the broader ‘Pink Tide’ that swept different parts of Latin America since the1