• An Existential Fight between Green and Carbon Assets (with Mark Blyth)
    Nov 21 2024
    Welcome to What Just Happened, a Recall This Book experiment. In it you will hear three friends of RTB reacting to the 2024 election and discussing the coming four years. Mark Blyth (whose planned February 2020 appearance was scrubbed by the pandemic) is an international economist from Brown University, whose many books for both scholars and a popular audience include Great Transformations (2002), Angrynomics (2020; with Eric Lonergan) and (with Nicolo Fraccaroli) Inflation: A Guide for Users and Losers (New York: Norton 2025). Learn more about your ad choices. Visit megaphone.fm/adchoices
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    34 mins
  • Nick Bernards, "Fictions of Financialization: Rethinking Speculation, Exploitation and Twenty-First Century Capitalism" (Pluto Press, 2024)
    Nov 18 2024
    Since the global financial crisis that began in 2008, the role of the financial sector in contemporary capitalism has come under increasing scrutiny. In the global North, the expansion of the financial sector over the last 40 years has paralleled a decline in manufacturing employment and an increase in personal indebtedness, giving rise to the perception that speculation and usury have come to replace production as the engine of economic growth. In the global South, financial liberalization has exacerbated long-standing patterns of boom-and-bust cycles, and the growth of the financial sector has caused anxieties that speculative investments in natural resource extraction, urban real estate, and rural farm land are dispossessing and displacing people rather than improving human development. Overall, the growth of the financial sector has created the perception that we’re entering a new phase in capitalism’s history in which speculation and rent-seeking have displaced production as the engines of economic growth. My guest today, the political economist Nick Bernards, challenges this narrative. In his new book, Fictions of Financialization: Rethinking Speculation, Exploitation and Twenty-First Century Capitalism (Pluto Press, 2024), Bernards argues that we need to re-center labor in narratives about the expansion of finance, that speculation and the subsumption of nature are always central to capitalism, and that major private-sector financial institutions have actually been reluctant to invest in major development projects in the global south. The main problem with the growth of finance is that it makes more exploitation, displacement, and environmental damage – in short, more capitalism – possible. Nick Bernards is Associate Professor of Global Sustainable Development at the University of Warwick. He is the author of A Critical History of Poverty Finance (Pluto, 2022) and The Global Governance of Precarity (Routledge, 2018). Learn more about your ad choices. Visit megaphone.fm/adchoices
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    1 hr and 25 mins
  • D. Andrew Johnson, "Enslaved Native Americans and the Making of Colonial South Carolina" (Johns Hopkins UP, 2024)
    Nov 18 2024
    In 1708, the governor of South Carolina responded to a request from London to provide a detailed account of the colony's population. Among the groups included in this report was an often-overlooked segment—Native Americans, who comprised roughly a quarter of the colony’s enslaved population. However, not long after, references to enslaved Native people largely disappeared from the historical record. In Enslaved Native Americans and the Making of Colonial South Carolina (Johns Hopkins University Press, 2024), D. Andrew Johnson argues that Native Americans played a pivotal role in shaping South Carolina's economy and culture. Through extensive research, including a database of over 15,000 references to enslaved individuals, Dr. Johnson employs an interdisciplinary approach to expand the historical narrative and center the experiences of enslaved Native people. In addition to his archival work, he uses spatial analysis and archaeological evidence to explore Native slavery within the context of plantation life. While much of their impact was erased from mainstream history, the contributions of enslaved Native people were evident in the agricultural technologies they introduced, their influence on Creole culture, and the wealth and power amassed by early colonists as a result of their labor. D. Andrew Johnson is a historian of early-modern America and the Atlantic. He is the coeditor of Atlantic Environments and the American South. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    41 mins
  • Victor P. Petrov, "Balkan Cyberia: Cold War Computing, Bulgarian Modernization, and the Information Age Behind the Iron Curtain" (MIT Press, 2023)
    Nov 18 2024
    Balkan Cyberia: Cold War Computing, Bulgarian Modernisation, and the Information Age Behind the Iron Curtain (MIT Press, 2023) examines the history of the computer industry in socialist Bulgaria. Combining the histories of technology and political economy with that of the Cold War and the modern Balkans, Balkan Cyberia challenges the notions of backwardness, the importance of small states in large geopolitical systems, the nature of the Iron Curtain, and the concept of 1989 as a convenient end-point in the history of communism. By drawing on Bulgarian, Indian, and Russian archives, as well as a range of interviews, this work reveals how a small Balkan state used its unique advantages to gain major markets, and in the process transform its political thinking. A local and a global story at the same time, the story of the Bulgarian computer offers unique insights into the history of the twentieth century information age. Iva Glisic is a historian and art historian specialising in modern Russia and the Balkans. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    58 mins
  • Laura F. Edwards, "Only the Clothes on Her Back: Clothing and the Hidden History of Power in the Nineteenth-Century United States" (Oxford UP, 2022)
    Nov 18 2024
    What can dresses, bedlinens, waistcoats, pantaloons, shoes, and kerchiefs tell us about the legal status of the least powerful members of American society? In the hands of eminent historian Laura F. Edwards, these textiles tell a revealing story of ordinary people and how they made use of their material goods' economic and legal value in the period between the Revolution and the Civil War. Only the Clothes on Her Back: Clothing and the Hidden History of Power in the Nineteenth-Century United States (Oxford University Press, 2022) by Dr. Laura F. Edwards uncovers practices, commonly known then, but now long forgotten, which made textiles—clothing, cloth, bedding, and accessories, such as shoes and hats—a unique form of property that people without rights could own and exchange. The value of textiles depended on law, and it was law that turned these goods into a secure form of property for marginalized people, who not only used these textiles as currency, credit, and capital, but also as entree into the new republic's economy and governing institutions. Dr. Edwards grounds the laws relating to textiles in engaging stories from the lives of everyday Americans. Wives wove linen and kept the proceeds, enslaved people traded coats and shoes, and poor people invested in fabrics, which they carefully preserved in trunks. Dr. Edwards shows that these stories are about far more than cloth and clothing; they reshape our understanding of law and the economy in America. Based on painstaking archival research from fifteen states, Only the Clothes on Her Back reconstructs this hidden history of power, tracing it from the governing order of the early republic in which textiles' legal principles flourished to the textiles' legal downfall in the mid-nineteenth century when they were crowded out by the rising power of rights. This interview was conducted by Dr. Miranda Melcher whose new 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. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    55 mins
  • Lizhi Liu, "From Click to Boom: The Political Economy of E-Commerce in China" (Princeton UP, 2024)
    Nov 16 2024
    How do states build vital institutions for market development? Too often, governments confront technical or political barriers to providing the rule of law, contract enforcement, and loan access. In From Click to Boom: The Political Economy of E-Commerce in China (Princeton, 2024) Lizhi Liu suggests a digital solution: governments strategically outsourcing tasks of institutional development and enforcement to digital platforms—a process she calls “institutional outsourcing.” China’s e-commerce boom showcases this digital path to development. In merely two decades, China built from scratch a two-trillion-dollar e-commerce market, with 800 million users, seventy million jobs, and nearly fifty percent of global online retail sales. Contrary to conventional wisdom, Liu argues, this market boom occurred because of weak government institutions, not despite them. Gaps in government institutions compelled e-commerce platforms to build powerful private institutions for contract enforcement, fraud detection, and dispute resolution. For a surprisingly long period, the authoritarian government acquiesced, endorsed, and even partnered with this private institutional building despite its disruptive nature. Drawing on a plethora of interviews, original surveys, proprietary data, and a field experiment, Liu shows that the resulting e-commerce boom had far-reaching effects on China. Institutional outsourcing nonetheless harbors its own challenges. With inadequate regulation, platforms may abuse market power, while excessive regulation stifles institutional innovation. China’s regulatory oscillations toward platforms—from laissez-faire to crackdown and back to support—underscore the struggle to strike the right balance. Lizhi Liu is assistant professor at the McDonough School of Business at Georgetown University, where she is also a faculty affiliate of the Department of Government. Her work has been published by American Economic Review: Insights, Studies in Comparative International Development, Minnesota Law Review, Oxford University Press, and Princeton University Press. She was also listed as a Poets&Quants Top 50 Undergraduate Business Professor of 2021. She holds degrees in Political Science (PhD), Statistics (MS), and International Policy Studies (MA) from Stanford University and in International Relations (LLB) from Renmin University of China. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, a nonresident scholar at the UCSD 21st Century China Center, an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations, and is currently a visiting scholar at the Stanford Center on China’s Economy and Institutions. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master’s of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Lorentzen’s other NBN interviews relating to China’s tech sector include Trafficking Data, on how Chinese and American firms exploit user data, The Tao of Alibaba, on Alibaba’s business model and organizational culture, Surveillance State, on China’s digital surveillance, Prototype Nation, on the culture and politics of China’s innovation economy. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    57 mins
  • The Disappearance and Return of Inequality Studies in Economics
    Nov 13 2024
    This is episode three Cited Podcast’s new season, the Use & Abuse of Economic Expertise. This season tells stories of the political and scholarly battles behind the economic ideas that shape our world. For a full list of credits, and for the rest of the episodes, visit the series page. For much of the 20th century, few economists studied inequality. “Watching the study of inequality was like watching the grass grow,” is the way inequality scholar James K. Galbraith put it to us. Yet, the inequality studies grass is growing today–really, it’s something of a lush jungle. Arguably, the return of inequality studies is biggest change that has happened in economics over the last decade or so. Why did it return? Just as importantly, how could it have possibly disappeared? On this episode, we survey the broad political and intellectual history of inequality studies in economics. First, economist Branko Milanovic, author of Visions of Inequality: From the French Revolution to the End of the Cold War, introduces us to a few of the reasons why inequality was marginalized, including the mathematization of the economic mainstream. In short, we sidelined the political in political economy. Then, political theorist Michael Thompson, author of The Politics of Inequality: A Political History of the Idea of Economic Inequality in America, introduces us to the work of Frank Knight and other market-friendly economists who provided ideological justification for widening inequality. Finally, inequality scholar Poornima Paidipaty, speaks to us about the return of inequality studies, particularly through the landmark work of Thomas Piketty. Yet, Paidipaty and her co-author Pedro Ramos Pinto highlight some of the limits of Picketty’s vision in their article “Revisiting the “Great Levelling”: The limits of Piketty’s Capital and Ideology for understanding the rise of late 20th century inequality.” Learn more about your ad choices. Visit megaphone.fm/adchoices
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    1 hr and 10 mins
  • Anne Berg, "Empire of Rags and Bones: Waste and War in Nazi Germany" (Oxford UP, 2024)
    Nov 11 2024
    Paper, bottles, metal scrap, kitchen garbage, rubber, hair, fat, rags, and bones--the Nazi empire demanded its population obsessively collect anything that could be reused or recycled. Entrepreneurs, policy makers, and ordinary citizens conjured up countless schemes to squeeze value from waste or invent new purposes for defunct or spent material, no matter the cost to people or the environment. As World War II dragged on, rescued loot--much of it waste--clogged transport routes and piled up in warehouses across Europe. Historicizing the much-championed ideal of zero waste, Anne Berg shows that the management of waste was central to the politics of war and to the genesis of genocide in the Nazi Germany. Destruction and recycling were part of an overarching strategy to redress raw material shortages, procure lebensraum, and cleanse the continent of Jews and others considered undesirable. Fostering cooperation between the administration, the party, the German Army, the SS, and industry, resource extending schemes obscured the crucial political role played by virtually all German citizens to whom salvaging, scrapping, and recycling were promoted as inherently virtuous and orderly behaviors. Throughout Nazi occupied-Europe, Jews, POWs, concentration camp inmates, and enemy civilians were forced to recycle the loot, discards, and debris of the Nazi race war. In the end, the materials that were fully exploited and the people who had been bled dry were cast aside, buried, burned, or left to rot. Nonetheless, waste reclamation did not have the power to win the war. Illuminating how the Nazis inverted the economy of value, rescuing discards and murdering people, Empire of Rags and Bones: Waste and War in Nazi Germany (Oxford UP, 2024) offers an original perspective on genocide, racial ideology, and World War II. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    1 hr and 1 min