New Books in Economic and Business History

In The Tame and the Wild: People and Animals after 1492 (Harvard University Press, 2024), Dr. Marcy Norton offers a dramatic new interpretation of the encounter between Europe and the Americas that reveals the crucial role of animals in the shaping of the modern world. When the men and women of the island of Guanahani first made contact with Christopher Columbus and his crew on October 12, 1492, the cultural differences between the two groups were vaster than the oceans that had separated them. There is perhaps no better demonstration than the divide in their respective ways of relating to animals. In this book, Dr. Norton tells a new history of the colonisation of the Americas, one that places wildlife and livestock at the centre of the story. She reveals that the encounters between European and Native American beliefs about animal life transformed societies on both sides of the Atlantic. Europeans’ strategies and motives for conquest were inseparable from the horses that carried them in military campaigns and the dogs they deployed to terrorise Native peoples. Even more crucial were the sheep, cattle, pigs, and chickens whose flesh became food and whose skins became valuable commodities. Yet as central as the domestication of animals was to European plans in the Americas, Native peoples’ own practices around animals proved just as crucial in shaping the world after 1492. Cultures throughout the Caribbean, Amazonia, and Mexico were deeply invested in familiarisation: the practice of capturing wild animals—not only parrots and monkeys but even tapir, deer, and manatee—and turning some of them into “companion species.” These taming practices not only influenced the way Indigenous people responded to human and nonhuman intruders but also transformed European culture itself, paving the way for both zoological science and the modern pet. This interview was conducted by Dr. Miranda Melcher whose forthcoming 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

In Seven Crashes: The Economic Crises That Shaped Globalization (Yale UP, 2023), distinguished economic historian Harold James offers a fresh perspective on the past two centuries of globalization and the pivotal moments that shaped it. James analyzes seven major economic crises that occurred over this period, including the late 1840s, the simultaneous stock market shocks of 1873, the First World War years, the Great Depression era, the 1970s, the Global Financial Crisis of 2007-2008, and most recently the Covid-19 crisis. Through his insightful analysis, he illustrates how some of these crises contributed to increased cross-border integration of labor, goods, and capital markets, while others resulted in significant deglobalization. James classifies the crises into two categories: those caused by shortages and those driven by demand. He explains how shortages have led to greater globalization as markets expanded and producers innovated to increase supply, as evidenced by events such as the First World War and the oil shocks of the 1970s. In contrast, demand-driven crises, such as those that caused the Great Depression and the Global Financial Crisis of 2007-2008, have typically led to international trade contraction and decreased globalization, often accompanied by widespread skepticism of governments. To support his findings, James examines the writings of key observers who shaped our understanding of each crisis, including Karl Marx in 1848, Stanley Jevons, Léon Walras, and Carl Menger in the 1870s, German Treasury Secretary Karl Helfferich in the First World War, John Maynard Keynes in the Great Depression, Milton Friedman and Friedrich Hayek in the 1970s, Ben Bernanke in 2008, and Larry Summers and Raj Chetty in 2020. Overall, James' work provides an insightful and thought-provoking analysis of the relationship between economic crises and globalization over the past two centuries, and sheds light on the potential trajectory of future economic developments. Javier Mejia is an economist at Stanford University who specializes in the intersection of social networks and economic history. His research interests also include entrepreneurship and political economy, with a particular focus on Latin America and the Middle East. He holds a Ph.D. in Economics from Los Andes University. Mejia has previously been a Postdoctoral Associate and Lecturer at New York University-Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is also a frequent contributor to various news outlets, currently serving as an op-ed columnist for Forbes Magazine. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Great Migration saw more than six million African Americans leave the US South between 1910 and 1970. Though the experiences of migrant laborers are well-known, countless African Americans also left the South to pursue entrepreneurial opportunities and viewed business as key to Black liberation. Detroit's status as a mecca for Black entrepreneurship illuminates this overlooked aspect of the Great Migration story. In Freedom Enterprise, Kendra D. Boyd uses "migrant entrepreneurship" as a lens through which to understand the entwined histories of Black-owned business, racial capitalism, and urban space. Freedom Enterprise follows Black Southerners' journeys to Detroit during the initial wave of migration in the 1910s and 1920s, through their efforts to build a prosperous Black business community in the 1930s and 1940s, to the destruction of that community through urban renewal projects and freeway construction in the 1950s and 1960s. Combining business and social history methods to analyze an eclectic archive, Boyd chronicles migrant entrepreneurs' experiences, highlighting tales of racial and economic violence, Black women's business organizing, illegal business, communist entrepreneurs, and cooperative economics. Boyd uses the framework of racial capitalism to examine migrant entrepreneurs' experiences in twentieth-century America. In the Jim Crow South, African Americans worried about white mobs taking away their property, wealth, and lives. Though they sought refuge in Detroit, migrant entrepreneurs subsequently faced the loss of their livelihoods and the businesses they had spent decades building to the bulldozers of state-sponsored urban redevelopment initiatives. Southern migrants' "freedom enterprise"--their undertaking of attaining freedom through business--was curtailed by the reality of operating within the confines of US racial capitalism. In tracing Black entrepreneurs across the Great Migration, Freedom Enterprise provides important insights into African Americans' activism for racial and economic justice and continued racialized wealth disparities. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Earth Transformed. An Untold History (Knopf, 2023) is a captivating and informative book that reveals how climate change has been a driving force behind the development and decline of civilizations across the centuries. The author, Peter Frankopan, takes readers on a journey through history, showcasing how natural phenomena such as volcanic eruptions, El Niño, and solar flare activity have shaped the course of human events. Frankopan's extensive research, coupled with his accessible writing style, makes for an engaging read that reframes our understanding of the world and our place in it. One of the strengths of The Earth Transformed is the way in which Frankopan connects seemingly disparate events to highlight the far-reaching impact of climate change. For example, he explains how the Vikings emerged as a result of catastrophic crop failure, and how the collapse of cotton prices due to unusual climate patterns led to regime change in eleventh-century Baghdad. Through such connections, Frankopan demonstrates how past empires that failed to act sustainably were met with catastrophe, providing valuable lessons for our current environmental crisis. Overall, The Earth Transformed is a timely and important book that sheds light on the enduring relationship between humans and the natural world. It challenges readers to reckon with our species' impact on the environment and to consider how we can act sustainably to prevent further harm. Frankopan's interdisciplinary approach, combining historical research with scientific insights, makes for a compelling and thought-provoking read that will leave readers with a new perspective on the world around us. Javier Mejia is an economist at Stanford University who specializes in the intersection of social networks and economic history. His research interests also include entrepreneurship and political economy, with a particular focus on Latin America and the Middle East. He holds a Ph.D. in Economics from Los Andes University. Mejia has previously been a Postdoctoral Associate and Lecturer at New York University-Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is also a frequent contributor to various news outlets, currently serving as an op-ed columnist for Forbes Magazine. Learn more about your ad choices. Visit megaphone.fm/adchoices

Stealing the Future is the first book to tell the true and full story of Sam Bankman-Fried and his historic crimes. It chronicles the $11 billion FTX fraud with the detail and nuance of a financial fraud expert and cryptocurrency insider – but unlike any book before it, it also traces the ideas that enabled the crime. “Effective Altruism” and related tendencies, such as longtermism and transhumanism, remain dangerously influential in today’s Silicon Valley. Despite Bankman-Fried’s pose as a cuddly liberal philanthropist, they are now center stage in the global rise of the far right, and also lie at the heart of OpenAI, the tech darling that took FTX’s place as the face of the future. In this interview, Morris explains how some of the key thought processes that drive today's techno-billionaires and how we can spot the next fraudsters in our midst.  Learn more about your ad choices. Visit megaphone.fm/adchoices