New Books in Economic and Business History New Books Network

Think that today's debates about the role of the Federal Reserve Bank, financial regulation, "too big to fail", etc. are new? Think again. Who should control banks, who should regulate banks, what should banks even do--these questions have been debated since the founding of the Republic. Replace CNBC's David Faber with Alexander Hamilton, and Joe Kernan with Thomas Jefferson (or James Madison) and the arguments about banking, moral hazard, and regulation would be largely the same, though the attire would be quite different.
Kathleen Day's new book Broken Bargain: Bankers, Bailouts, and the Struggle to Tame Wall Street (Yale University Press, 2019) provides a detailed two-century history of the give and take between government authority and financial institutions (and the individuals caught between them). The challenges over time have changed--the absence of a single currency in the early 19th century, insufficient credit in the late 19th century, the roaring and patently stupid 1920s, and then the whole range of financial innovations in the postwar period--but the key issues recur over and over again. Day sides in the end with the need for consistent regulation from impartial and empowered bureaucrats, but alas, the last two centuries have shown that they are hard to come by. Not everyone will agree with her take on banks and regulation, but there can be no doubt about the underlying "capitalism is messy" theme running through our history and this book.
Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter @Back2BizBook or at http://www.strategicdividendinvestor.com
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Selling French Sex: Prostitution, Trafficking, and Global Migrations (Cambridge UP, 2024) is an illuminating account of the cultural, social, and economic history of the sale of 'French sex'. It explores the discourses and experiences surrounding the early twentieth century debate on sex trafficking, which mobilized various international reform movements to combat the coerced prostitution of young women abroad. According to popular legend and empirical studies, French women were present in brothels all over the world, where they were the most desired and best paid in the business. But were they trafficking victims or willing migrants? In this timely book, Elisa Camiscioli reconstructs the networks and mechanisms of cross-border migrations for sexual labor; elucidates women's motives for leaving and staying; and explains why French migrant sexual labor occupied such a prominent place in the underworld of prostitution, as well as in the imaginaries of anti-trafficking campaigners, immigration officials, and ordinary consumers of vice.
Elisa Camiscioli is a professor of history at Binghamton University. She specializes in immigration to and from France, sex trafficking, and race and sexual politics in modern France and its empire. She completed a B.A., cum laude, at University of Pennsylvania and earned a M.A. and Ph.D. from the University of Chicago. In addition to a number of peer-reviewed articles, she is the author of Reproducing the French Race: Immigration, Intimacy, and Embodiment in the Early Twentieth Century (Duke University Press. 2009). Dr. Camiscioli was co-editor of the Journal of Women's History from 2015 to 2020.
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Profit ― getting more out of something than you put into it ― is the original genius of homo sapiens, who learned how to unleash the energy stored in wood, exploit the land, and refashion ecosystems. As civilization developed, we found more and more ways of extracting surplus value from the earth, often deploying brutally effective methods to discipline people to do the work needed.
In Profit: An Environmental History (Polity Press, 2022), Historian Mark Stoll explains how capitalism supercharged this process and traces its many environmental consequences. The financial innovations of medieval Italy created trade networks that, with the European discovery of the Americas, made possible vast profits and sweeping cultural changes, to the detriment of millions of slaves and indigenous Americans; the industrial age united the world in trade and led to an energy revolution that changed lives everywhere. But when efficient production left society awash in goods, a new sort of capitalism, predicated on endless individual consumption, took its place.
This story of incredible ingenuity and villainy begins in the Doge’s palace in medieval Venice and ends with Jeff Bezos aboard his own spacecraft. Mark Stoll’s revolutionary account places environmental factors at the heart of capitalism’s progress and reveals the long shadow of its terrible consequences.
Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.
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In this special episode, we talk to two authors about the role of financial institutions in enslavement. Sharon Ann Murphy, associate professor of history, argues in Banking on Slavery Financing Southern Expansion in the Antebellum United States (University of Chicago Press, 2023) that Southern banks’ willingness to use enslaved people as loan collateral led to the exponential growth of Southern enslavement during the 1820-30s. In filmmaker, producer, and author David Montero’s book, The Stolen Wealth of Slavery: A Case for Reparations (Hatchette Book Group, 2024), he follows Wall Street bankers and large Northern banks were critical to the financing of slavery and, in turn, who massed incredible wealth from enslavement.
Dr. N’Kosi Oates is a curator and assistant professor. He earned his Ph.D. in Africana Studies at Brown University. Find him on Twitter at DrNKosiOates.
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From Dust They Came: Government Camps and the Religion of Reform in New Deal California (NYU Press, 2023) tells the story of the federal government’s Depression-era effort to redeem Dust Bowl refugees in rural California through the religion of reform.
During the Depression hundreds of thousands of families left the Great Plains and Southwest to look for farm work in California. Seeing destitute white families living in filthy shelters, reform-minded New Deal officials built a series of camps to provide shelter and community. 
Drawn from the archives of the federal camp system, Jonathan H. Ebel tells the story of the religious dynamics in and around the farm labor camps, making the case that they served as mission sites for the conversion of migrants to more modern ways of living and believing, centered around ideas of virtuous citizenship based on a foundation of seemingly secular values such as cleanliness, hard work, and family life. The migrants, particularly those who came from charismatic and conservative Protestant faiths, sometimes had different ideas about right living. 
Ebel shows how the New Deal program was animated simultaneously by humanitarian concern and by the belief that these poor white migrants and their religious practices needed to be transformed for them to achieve a better life in a modernized, secular world. 
Recommended reading: 
The Last Report on the Miracles at Little No Horse by Louise Erdrich
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The United States was an upside-down British Empire. It had an agrarian economy, few large investors, and no territorial holdings outside of North America. However, decades before the Spanish-American War, the United States quietly began to establish an empire across thousands of miles of Pacific Ocean.
While conventional wisdom suggests that large interests – the military and major business interests – drove American imperialism, The Price of Empire: American Entrepreneurs and the Origins of America's First Pacific Empire (Cambridge University Press, 2024) argues that early American imperialism was driven by small entrepreneurs. When commodity prices boomed, these small entrepreneurs took risks, racing ahead of the American state. Yet when profits were threatened, they clamored for the US government to follow them into the Pacific.
Through novel, intriguing stories of American small businessmen, this book shows how American entrepreneurs manipulated the United States into pursuing imperial projects in the Pacific. It explores their travels abroad and highlights the consequences of contemporary struggles for justice in the Pacific.
Our guests today are: Miles M. Evers, who is an Assistant Professor of Political Science at the University of Connecticut; and Eric Grynaviski, who is an Associate Professor of Political Science and International Affairs at George Washington University.
Our host is Eleonora Mattiacci, an Assistant Professor of Political Science at Amherst College. She is the author of "Volatile States in International Politics" (Oxford University Press, 2023).
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