New Books in Economics

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 fou...

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 custo...

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...

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 paperba...

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 morali...

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 th...

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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...

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 activ...

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 instabil...

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 la...

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 Cors...

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 econo...

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 mo...

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 be...

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', whe...

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 millenniu...

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...

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 be...

Societal grand challenges have taken a toll on humanity, which finds itself at a crossroads. The concentration of wealth and economic inequality, the dominance of Big Tech firms, the loss of privacy and free choice, and the overconsumption and abuse of natural resources have been reinforced by globalization. Regulation, legislation, international treaties, and government and corporate policies have fallen short of offering sufficient remedies. The Cooperative Economy: A Solution for Society(Routledge, 2023) offers a bold solution: a new economic system, free from the design flaws that have contributed to these societal grand challenges. The cooperative economy is an ethical co...