New Books in Economic and Business History

Former chief steward and union organizer Gordon Simmons joins Michael Stauch to discuss his new book on the history of labor struggles by public sector workers in West Virginia since 1969. With an emphasis on rank-and-file rebellion expressed through wildcat strikes and other job actions, Simmons provides a sweeping account of the past that has rich lessons for the present.

 

Highlights include:

●      A discussion of wildcat strikes and why West Virginia’s public sector workers waged them, again and again, in this period;

●      How a teacher wearing blue jeans sparked a battle over expressions of the counterculture in workplaces across West Virginia;

●      Why New Democrats like Joe Manchin sided against rank-and-file rebellion among public sector workers in Virginia;

●      How West Virginia public school teachers in 2018 used Facebook to organize a walkout that defied the union and won significant concessions from the state;

●      The joy of participating in “collective hell-raising” with co-workers and friends.

 

Guest: Gordon Simmons is a retired union organizer and president of the West Virginia Labor History Association. He is now employed as an investigator for the Human Rights Commission for the state of West Virginia and as an adjunct professor in philosophy at Marshall University.
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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
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Markets of Pain offers a sweeping history of the business of licit opium--following cultivators, merchants, scientists, and policymakers--and shows how this potent crop reshaped global trade, medicine, and geopolitics.

For centuries, opium has been a source of both profit and peril, its legacy entangled with addiction, imperialism, and the complex interplay of global trade and national development. While the illicit opium trade is infamous, the history of licit opium--how it was farmed, refined, and used to build modern medicine and shape state power--has remained largely untold.Drawing on archival sources from Asia, Europe, and the United States, Markets of Pain: Opium, Capitalism, and the Global History of Painkillers (Oxford UP, 2026) traces the global arc of licit opium from poppy fields and processing plants in India, Turkey, and Australia to the clinics and laboratories of modern medicine. It shows how both the Ottoman Empire and the Turkish Republic treated the opium poppy as a national resource and a means of securing global stature. In postcolonial India, by contrast, nationalist leaders initially rejected opium's imperial legacy before embracing its strategic value amid the shifting currents of the Cold War. At the heart of this story are the cultivators, scientists, bureaucrats, and policymakers who shaped the licit opium trade and grappled with its far-reaching consequences. Their work and visions demonstrate how colonial empires and postcolonial states helped forge the global pharmaceutical industry as it struggled to govern a drug it could not abandon.Markets of Pain reveals how a seemingly marginal crop became an unlikely engine of modernization, a tool of Cold War geopolitics, and a harbinger of today's global opioid crisis. Blending vivid scenes from opium's fields and factories with incisive analysis of scientific and diplomatic archives, Benjamin Robert Siegel recovers a buried history with urgent relevance for global supply chains, international power, and public health.

Markets of Pain offers an account of the global drug trade in the twentieth century, focusing on the transformation of opium from a colonial commodity into a modern resource for the American and European pharmaceutical industries. Challenging simplistic ideas of licit and illicit drugs in the twentieth century, it reveals how the modern global drug regime was formed by India and Turkey's navigation of the international anti-opium movement, the rise of the pharmaceutical industry, and the complex relationship between agriculture, medicine, and global capitalism.
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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.
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Can art change the contemporary world? In Feminism, Art, Capitalism Angela Dimitrakaki, a Professor of Contemporary Art History and Theory at the university of Edinburgh, offers a Marxist Feminist perspective on a variety of issues in both society and the cultural sector. Engaging with a huge range of examples, as well as theorising key issues such as work and labour, the long modern, communing practices and technology, the book offers a global perspective on the contradictions that feminism faces under capitalist culture. A rich examination of the book will be of interest across the humanities, as well as for anyone interested in the importance of art today.
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