Episodios
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China’s breathtaking economic development has been driven by bureaucrats. Even as the country transitioned away from socialist planning toward a market economy, the economic bureaucracy retained a striking degree of influence and control over crafting and implementing policy. Yet bureaucrats are often dismissed as faceless and inconsequential, their role neglected in favor of party leaders’ top-down rule or bottom-up initiatives.<
Markets with Bureaucratic Characteristics (Columbia UP, 2024) offers a new account of economic policy making in China over the past four decades that reveals how bureaucrats have spurred large-scale transformations from within. Yingyao Wang demonstrates how competition among bureaucrats motivated by careerism has led to the emergence of new policy approaches. Second-tier economic bureaucrats instituted distinctive―and often conflicting―“policy paradigms” aimed at securing their standing and rewriting China’s long-term development plans for their own benefit. Emerging from the middle levels of the bureaucracy, these policy paradigms ultimately reorganized the Chinese economy and reshaped state-market relations. Drawing on fine-grained biographical and interview data, Wang traces how officials coalesced around shared career trajectories, generational experiences, and social networks to create new alliances and rivalries. Shedding new light on the making and trajectory of China’s ambitious economic reforms, this book also provides keen sociological insight into the relations among bureaucracy, states, and markets.
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Economist Bryan Caplan has written—and artist Ady Branzei has illustrated—this new graphic novel about housing regulation (if ‘novel’ can be applied to an imaginative essay on a nonfiction topic), Build Baby Build: The Science and Ethics of Housing Regulation (Cato Institute, 2024). The thesis of the work is that regulation has driven up the cost of housing and ‘manufactured scarcity.’ Regulation is always well intentioned but often ill considered, as Caplan shows, and every benefit—‘free’ parking, zoning restrictions, environmental considerations—is provided by a hidden cost to the consumer and the tax-payer, disproportionately born by the poor (ironically the people they are supposed to be helping).
This conversation touched on other areas where free-market principles conflict with government interventions: bike lanes, environmental policy, immigration, and public education, especially at the taxpayer-supported university, a topic that Bryan Caplan discussed last time he was on the New Books Network, in his 2018 interview with Editor-in-Chief Marshall Poe when they discussed his earlier book, The Case Against Education.
Bryan Caplan is a professor of economics at George Mason University, a senior research fellow at the Mercatus Center, an adjunct scholar at the Cato Institute; his blog on Substack is called Bet on It.
Krzysztof Odyniec is a historian of Medieval and Early Modern Europe; his dissertation is a forthcoming book, published by Brepols: Dantiscus: Diplomat and Traveller in Sixteenth-Century Europe. He is a regular host on the New Books Network also the host of the 'Almost Good Catholics' podcast.
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The word Leader often brings to mind the heroic image of a charismatic, confident, and persuasive person who seems to "know" what to do in an instinctual, gut-driven way.
In Decision Leadership: Empowering Others to Make Better Choices (Yale UP, 2022), Don A. Moore and Max H. Bazerman offer a well-researched and compelling corrective to this view.
They describe organizations as decision factories in which effective leaders are not lone heroes, but decision architects who design situations and policies that enable those around them to make wise, ethical choices that are consistent both with their own interests and the organization's values.
Built on a foundation of behavioral economics and decision science research, this book is full of real-life stories and concrete examples of the incentives, structures, and systems that can be used to guide negotiations and decision making. This approach avoids many of the common pit-falls of overconfidence and dependence on a few heroic figures, allowing strong leaders to have positive impact far beyond their limited individual range.
Authors recommended reading:
Negotiation: The Game Has Changed by Max H. Bazerman
Perfectly Confident: How to Calibrate Your Decisions Wisely by Don A. Moore
Also by these authors:
Judgment in Managerial Decision Making by Max H. Bazerman and Don A. Moore
Hosted by Meghan Cochran
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Canada is experiencing a housing shortage. Although house prices in major Canadian cities appeared to have topped out, new housing isn’t coming onto the market quickly enough. Higher interest rates have only tightened the pressure on buyers, and renters, too, as rising mortgage rates cost landlords more, which are passed along to tenants in rent increases. Even with recent federal budget commitments to bring more housing online by 2030, there will still be a shortfall of 3.5 million homes by then.
Gregor Craigie is a CBC journalist in Victoria, one of the highest-priced housing markets in the country. On his daily radio show On The Island he's been talking for over 17 years to local experts and to those across the country about housing. Craigie has travelled to many of the places he profiles in the book, and in his interviews with Canadians he presents the human face of the shortfall as he speaks with renters, owners and homeless people, exploring their varying predicaments and perspectives. He then shows, through comparable profiles of people across the globe, how other North American and international jurisdictions (Tokyo, Paris, Berlin, Helsinki, Singapore, Ireland, to name a few) are housing their citizens better, faster and with determination—solutions that could be put into practice here.
With passion, knowledge and vigour, Craigie explains how Canada reached this critical impasse and will convince those who may not yet recognize how badly our entire country is in need of change. Our Crumbling Foundation provides hope for finding our way out of the crisis by recommending a number of approaches at all levels of government. The prescription for how we’re going to house ourselves, and do so equitably, requires not just a business solution, nor simply a social solution, but rather a combination of both, working hand-in-hand with all levels of government, and quickly, in order to catch up with and outpace the needs of Canadians in this ever-intensifying crisis over a basic human right.
Gregor Craigie is the host of On The Island on CBC Radio One in Victoria. He is also the author of the nonfiction work On Borrowed Time: North America's Next Big Quake and the Radio Jet Lag.
Alex Hallbom is a Registered Professional Planner in British Columbia, Canada. He sits on the editorial board of Plan Canada, the professional publication for planners in Canada, and publishes periodically in Plan Canada and Planning West.
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Hundreds of thousands of Canadians exist on the edge. Renters fear eviction, homeowners feel trapped, and both are vulnerable to becoming homeless with a single stroke of misfortune. Unaffordable housing in Canada is tearing communities apart as long-time residents seek affordable housing elsewhere and businesses shutter because they cannot find staff who can afford to live nearby. For two generations, Canadians have watched affordable housing vanish while other nations have been tackling the problem.
In Home Truths: Fixing Canada's Housing Crisis (On Point Press, 2024), housing expert Carolyn Whitzman reviews the decades of policy that have gotten us into this mess and shows how all levels of government can work together to provide affordable housing where it is needed. Her compelling arguments for policy solutions are backed by ideas from researchers, planners, politicians, developers, and housing advocates at home and abroad.
Home Truths addresses Canada’s crisis from all sides, including exploring what adequate housing looks like, providing ideas on how to resolve homelessness, explaining why nonmarket housing is crucial for Canada, and showing how and why to tackle ever-growing wealth disparities between renters and those who own.
From policymakers, planners, developers, and observers needing to understand Canada’s housing struggles through to Canadians seeking ideas for a new way forward, Home Truths is a critical read for a nation on edge.
Carolyn Whitzman is a leading housing and senior policy researcher. She has authored, coauthored, or lead-edited six previous books, the most recent being Clara at the Door with a Revolver. She has undertaken research for the Office of the Federal Housing Advocate, the Canada Mortgage and Housing Corporation, the Alliance to End Homelessness Ottawa, and many other organizations.
Alex Hallbom is a Registered Professional Planner in British Columbia, Canada. He sits on the editorial board of Plan Canada, the professional publication for planners in Canada, and publishes periodically in Plan Canada and Planning West.
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On this episode, rural sociologist Dr. Irna Hofman explores how Tajikistan’s cotton fields illuminate shifting power dynamics in Central Asia, historically and in the present. She discusses how the Soviet Union once showcased cotton production to visiting delegations—particularly from Muslim-majority countries—as evidence of its development model. Now, as global powers, including Russia, China, and the EU, vie for influence in the region, cotton has again become a strategic commodity—used to forge political ties, secure resources, and drive infrastructure projects. Hofman highlights local communities’ active role in shaping these developments, emphasizing that rural landscapes are not simply backdrops for a “New Great Game,” but sites where broader geopolitical forces and grassroots agency intersect. Through her long-term fieldwork, she illustrates how Tajik farmers navigate and negotiate these overlapping external interests, and in doing so, reframe Central Asia’s future amidst geopolitical tensions.
Dr. Hofman specializes in agrarian and social change in Central Asia, where she has worked since 2012. She completed post-doctoral research at Oxford's Faculty of Asian and Middle Eastern Studies as part of an ERC-funded project "China, law and development." In 2019, she obtained her Ph.D. from Leiden University in the Netherlands with a dissertation focused on the political economy of agrarian transformation in Tajikistan: "Cotton, control, and continuity in disguise: The political economy of agrarian transformation in lowland Tajikistan." Her research interests span political economy, political ecology, and political sociology. In recent years, she has focused on rural labour, gender, and commodity politics. Dr. Hofman is completing a monograph based on her dissertation and post-doctoral research projects. Her research agenda for the coming years centers on the rural everyday of geopolitics, focusing on China's growing assertiveness in the global agrifood regime, shifting geographies of production, and rural labour.
Dr Irna Hofman | School of Geography and the Environment | University of Oxford
@irnahofman
Resources:
Hofman, I. (2024) Seeds of empire or seeds of friendship? The politics of the diffusion of Chinese crop seeds in Tajikistan. Journal of Agrarian Change, 24(2): e12581.
Hofman, I. (2022) Tajikistan. The people's map of global China
Hofman, I. (2021) Migration, crop diversification, and adverse incorporation: Understanding the repertoire of contention in rural Tajikistan. Canadian Journal of Development Studies, 42(4): 499-518.
Hofman, I. (2021). Chinese cotton diplomacy in Tajikistan: greasing the ties by reviving the cotton economy. Research Brief.
Hofman, I. (2018). Politics or profits along the “Silk Road”: What drives Chinese farms in Tajikistan and helps them thrive? In The Geoeconomics and Geopolitics of Chinese Development and Investment in Asia, pp. 183-208. Routledge.
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The Library of Mistakes is a library located in Edinburgh, Scotland dedicated to financial and economic history. Russell Napier, the founder and keeper of the library is a professor at The Edinburgh Business School and investment manager. In this wide-ranging discussion, Russell discusses his work as a practitioner and a scholar of financial crises. He also discusses how and why he started a library, in addition to his writing on financial history.
Professor Russell Napier is the author of The Solid Ground investment report for institutional investors and co-founder of the investment research portal ERIC- a business he now co-owns with D.C. Thomson.
Caleb Zakarin is editor of the New Books Network.
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Why has the United Kingdom, historically one of the strongest democracies in the world, become so unstable? What changed? Late Soviet Britain: Why Materialist Utopias Fail (Cambridge UP, 2023) demonstrates that a major part of the answer lies in the transformation of its state. It shows how Britain championed radical economic liberalisation only to weaken and ultimately break its own governing institutions. The crisis of democracy in rich countries has brought forward many urgent analyses of neoliberal capitalism. This book explores for the first time how the 'governing science' in Leninist and neoliberal revolutions fails for many of the same reasons. These systems may have been utterly opposed in their political values, but Abby Innes argues that when we grasp the kinship in their closed-system forms of economic reasoning and their strategies for government, we may better understand the causes of state failure in what remains an inescapably open-system reality.
Abby Innes is Associate Professor of Political Economy in the European Institute at the LSE.
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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Critics on the Left have long attacked open markets and free trade agreements for exploiting the poor and undermining labor, while those on the Right complain that they unjustly penalize workers back home. In Open: The Progressive Case for Free Trade, Immigration, and Global Capital (Harvard University Press, 2019), Kimberly Clausing takes on old and new skeptics in her compelling case that open economies are actually a force for good. Turning to the data to separate substance from spin, she shows how international trade makes countries richer, raises living standards, benefits consumers, and brings nations together. At a time when borders are closing and the safety of global supply chains is being thrown into question, she outlines a clear agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy and establish a better partnership between labor and the business community.
Kimberly Clausing holds the Eric M. Zolt Chair in Tax Law and Policy at the UCLA School of Law. During the first part of the Biden Administration, Clausing was the Deputy Assistant Secretary for Tax Analysis in the US Department of the Treasury, serving as the lead economist in the Office of Tax Policy. Prior to coming to UCLA, Clausing was the Thormund A. Miller and Walter Mintz Professor of Economics at Reed College. Professor Clausing is also a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. She has worked on economic policy research with the International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress. She has testified before the House Ways and Means Committee, the Senate Committee on Finance, the Senate Committee on the Budget, and the Joint Economic Committee. Professor Clausing received her B.A. from Carleton College in 1991 and her Ph.D. from Harvard University in 1996, both in economics.
Other New Books Networks interviews on related themes include Yale economist Penny Goldberg, former Chief Economist of the World Bank, on The Unequal Effects of Globalization, Princeton economist Leah Boustan on how immigrants have contributed to and rapidly assimilated into US society, and University of Massachusetts economist Isabella Weber on China's process of integration into the world economy.
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Digital technologies have changed how we shop, work, play, and communicate, reshaping our societies and economies. To understand digital capitalism, we need to grasp how advances in geospatial technologies underpin the construction, operation, and refinement of markets for digital goods and services.
In The Map in the Machine: Charting the Spatial Architecture of Digital Capitalism (U California Press, 2024), Luis F. Alvarez Leon examines these advances, from MapQuest and Google Maps to the rise of IP geolocation, ridesharing, and a new Earth Observation satellite ecosystem. He develops a geographical theory of digital capitalism centered on the processes of location, valuation, and marketization to provide a new vantage point from which to better understand, and intervene in, the dominant techno-economic paradigm of our time. By centering the spatiality of digital capitalism, Alvarez Leon shows how this system is the product not of seemingly intangible information clouds but rather of a vast array of technologies, practices, and infrastructures deeply rooted in place, mediated by geography, and open to contestation and change.
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China's household debt has exploded from 11% of GDP in 2006 to over 62% today—a profound transformation in a traditionally savings-focused society. How is this reshaping social relationships and daily life?
In this episode, Dr. Jiaqi Guo from the University of Turku reveals findings from her corpus analysis of China's largest debt support forum. Her research uncovers the practice of "contact bombing" (爆通讯录), where collectors harass debtors' entire social networks, causing what Chinese debtors call "social death" (社死).
With minimal institutional protection, desperate debtors are forming underground support networks and developing their own legal expertise. This cultural shift exposes a human dimension of China's economic growth that statistics alone cannot capture.
Dr. Jiaqi Guo is a University Lecturer in Chinese at the University of Turku, Finland.
This episode is hosted by Hanna Holttinen, University Teacher in Chinese language at the University of Turku, Finland.
The Nordic Asia Podcast is a collaboration sharing expertise on Asia across the Nordic region, brought to you by the following academic partners: Asia Centre, University of Tartu (Estonia), Asian studies, University of Helsinki (Finland), Centre for Asian Studies, Vytautas Magnus University (Lithuania), Centre for East Asian Studies, University of Turku (Finland) and Centre for East and South-East Asian Studies, Lund University (Sweden) and Norwegian Network for Asian Studies.
We aim to produce timely, topical and well-edited discussions of new research and developments about Asia.
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Class Meets Land: The Embodied History of Land Financialization (University of California Press, 2024) by Dr. Maria Kaika & Dr. Luca Ruggiero reveals something seemingly counterintuitive: that nineteenth-century class struggles over land are deeply implicated in the transition to twenty-first-century financial capitalism. Challenging our understanding of land financialization as a recent phenomenon propelled by high finance, Dr. Kaika and Dr. Ruggiero foreground 150 years of class struggle over land as a catalyst for assembling the global financial constellation. Narrating the close-knit histories of industrial land, industrial elites, and the working class, the authors offer a novel understanding of land financialization as a “lived” process: the outcome of a relentless, socially embodied historical unfolding, in which shifts in land’s material, economic, and symbolic roles impact both local everyday lives and global capital flows.
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.
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In the latest episode of Madison’s Notes, I spoke with Janie Nitze, co-author of Over Ruled: The Human Toll of Too Much Law (Harper, 2004), a book written alongside Supreme Court Justice Neil Gorsuch. Janie, a Harvard-educated attorney and former clerk for Justices Sonia Sotomayor and Neil Gorsuch, discussed the growing complexity of laws in America and their impact on everyday citizens. The book shares stories of ordinary Americans—fishermen in Florida, families in Montana, monks in Louisiana, and more—who find themselves caught in legal mazes created by an overwhelming and often opaque system of regulations.
Janie explained that while laws are necessary to maintain order and freedom, the sheer volume and complexity of modern regulations can undermine those principles. She highlighted how excessive laws, many of which are created by unelected agency officials, disproportionately affect those without wealth or power. Through these stories, Over Ruled shows how overregulation can erode trust in the legal system and create unintended consequences for individuals navigating their lives.
Janie’s perspective, shaped by her work at the Supreme Court, the Department of Justice, and the Privacy and Civil Liberties Oversight Board, provided a clear look at the challenges of balancing regulation and individual liberty. Over Ruled is a timely exploration of these issues, and this episode offers a deeper understanding of the human cost of too much law. Tune in to hear Janie’s insights and learn more about the stories behind the book.
Madison’s Notes is the podcast of Princeton University’s James Madison Program in American Ideals and Institutions.
Contributions to and/or sponsorship of any speaker does not constitute departmental or institutional endorsement of the specific program, speakers or views presented.
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Hollywood Unions (Rutgers UP, 2024) is a unique collection that tells the stories of the unions and guilds that have organized motion picture and television labor: IATSE, the DGA, SAG-AFTRA, and the WGA. The Hollywood unions represent a wide swath of the workers making media: from directors and stars to grips and makeup artists. People today know some of these organizations from their glitzy annual awards celebrations, but the unions’ actual importance is in bargaining with the Association of Motion Picture and Television Producers (AMPTP) on behalf of 331,000 workers in the motion picture and television industry. The Hollywood unions are not neutral institutions but rather have long histories of jurisdictional battles, competitions with rival unions, and industry-altering strikes. They have supported the industry’s workers through the Great Depression, World War II, the McCarthy era, the collapse of the studio system, the rise of television, runaway production, fights for gender parity, the digital revolution, and a global pandemic. The history of these unions has contributed to making media work sustainable in the long term and helped shape the conditions and production cultures of Hollywood.
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How Americans think about work changed profoundly over the course of the twentieth century. Thrift and persistence came to seem old-fashioned. Successful workers were increasingly expected to show initiative and enthusiasm for change—not just to do their jobs reliably but to create new opportunities for themselves and for others. Our culture of work today is more demanding than ever, even though workers haven't seen commensurate rewards.
Make Your Own Job: How the Entrepreneurial Work Ethic Exhausted America (Harvard University Press, 2025) by Dr. Erik Baker explains how this entrepreneurial work ethic took hold, from its origins in late nineteenth-century success literature to the gig economy of today, sweeping in strange bedfellows: Marcus Garvey and Henry Ford, Avon ladies and New Age hippies. Business schools and consultants exhorted managers to cultivate the entrepreneurial spirit in their subordinates, while an industry of self-help authors synthesized new ideas from psychology into a vision of work as “self-realization.” Policy experts embraced the new ethic as a remedy for urban and Third World poverty. Every social group and political tendency, it seems, has had its own exemplary entrepreneurs.
Dr. Baker argues that the entrepreneurial work ethic has given meaning to work in a world where employment is ever more precarious––and in doing so, has helped legitimize a society of mounting economic insecurity and inequality. From the advent of corporate capitalism in the Gilded Age to the economic stagnation of recent decades, Americans have become accustomed to the reality that today’s job may be gone tomorrow. Where work is hard to find and older nostrums about diligent effort fall flat, the advice to “make your own job” keeps hope alive.
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.
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Clean water, paved roads, public transit, electricity and gas, sewers, waste processing, telecommunication, even the Internet – all this infrastructure is what makes cities work and powers our lives, often seamlessly and silently. Virtually everything we do and consume depends on infrastructure. Yet, most people have little to no idea how these systems work. How is water treated? How do cities manage rainwater? Why do traffic jams exist? How is electricity generated and distributed? What happens to trash after it is picked up? How does the Internet work?
In The Infrastructure Book: How Cities Work and Power Our Lives (Prometheus Books, 2025), world-renowned urban engineering expert Sybil Derrible reveals the behind-the-scenes machinations of the foundational systems that make our societies function. Visiting sixteen cities around the world and their unique approaches to organizational challenges – from water distribution in Hong Kong to waste management in Tokyo, and from Chicago’s power grid to low Earth orbit satellites in space – this highly readable book uses fascinating case studies and historical detours to show how infrastructure works – and, sometimes, doesn’t.
With large-scale infrastructure repairs looming and the need for existing infrastructure to be transformed, the book also shows how infrastructure can be more sustainable and resilient. After reading The Infrastructure Book, readers will never look at a city the same way.
Sybil Derrible is a professor of urban engineering and director of the Complex and Sustainable Urban Networks Laboratory at the University of Illinois Chicago. He is a world-renowned scholar on infrastructure and a lead author on the United Nations Environmental Program’s Seventh Global Environment Outlook (GEO-7) report. He received the Walter L. Huber Research Prize from the American Society of Civil Engineers and a CAREER Award from the US National Science Foundation.
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Our book is: Big Box USA: The Environmental Impact of America’s Biggest Retail Stores (UP of Colorado, 2024) which presents a new look at how the big box retail store has dramatically reshaped the US economy and its ecosystems in the last half century. From the rural South to the frigid North, from inside stores to ecologies far beyond, this book examines the relationships that make up one of the most visible features of late twentieth-century and early twenty-first-century American life. The rise of big box retail since the 1960s has transformed environments on both local and global scales. Almost everyone has explored the aisles of big box stores. The allure of “everyday low prices” and brightly colored products of every kind connect shoppers with a global marketplace. Contributors join a growing conversation between business and environmental history, addressing the ways American retail institutions have affected physical and cultural ecologies around the world. Essays on Walmart, Target, Cabela’s, REI, and Bass Pro Shops assess the “bigness” of these superstores from “smokestacks to coat racks” and contend that their ecological impacts are not limited to the footprints of parking lots and manufacturing but also play a didactic role in educating consumers about their relationships with the environment. A model for historians seeking to bring business and environmental histories together in their analyses of merchant capital’s role in the landscapes of everyday life and how it has remade human relationships with nature, Big Box USA is a must-read for students and scholars of the environment, business, sustainability, retail professionals, and a general audience.
Our guest is: Dr. Rachel Gross, who is assistant professor of history at the University of Colorado Denver, where she teaches US environmental, business, and public history. She works with university and community partners to bring history into the public realm. She is the author of Shopping All the Way to the Woods: How the Outdoor Industry Sold Nature to America, and the co-editor of Big Box USA: The Environmental Impact of America’s Biggest Retail Stores.
Our host is: Dr. Christina Gessler, who is the creator, producer and show host of the Academic Life podcast. She uses her PhD in history to explore what stories we tell, and what happens to those we never tell.
Listeners may enjoy this playlist:
Disabled Ecologies
The Killer Whale Journals
Stylish Academic Writing
A Conversation with the editor of University of Wyoming Press
The Peer Review
At Every Depth
Welcome to Academic Life, the podcast for your academic journey—and beyond! You can support the show by downloading or sharing episodes. Join us again to learn from more experts inside and outside the academy, and around the world. Missed any of the 240+ Academic Life episodes? Find them here. And thank you for listening!
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At the close of the 1970s, government treasuries and central banks took a vow of perpetual self-restraint. To this day, fiscal authorities fret over soaring public debt burdens, while central bankers wring their hands at the slightest sign of rising wages. As the brief reprieve of coronavirus spending made clear, no departure from government austerity will be tolerated without a corresponding act of penance.
Yet we misunderstand the scope of neoliberal public finance if we assume austerity to be its sole setting. Beyond the zero-sum game of direct claims on state budgets lies a realm of indirect government spending that escapes the naked eye. Capital gains are multiply subsidized by a tax system that reserves its greatest rewards for financial asset holders. And for all its airs of haughty asceticism, the Federal Reserve has become adept at facilitating the inflation of asset values while ruthlessly suppressing wages. Neoliberalism is as extravagant as it is austere, and this paradox needs to be grasped if we are to challenge its core modus operandi.
In Counterrevolution: Extravagance and Austerity in Public Finance (Zone Books, 2024) Dr. Melinda Cooper examines the major schools of thought that have shaped neoliberal common sense around public finance. Focusing, in particular, on Virginia school public choice theory and supply-side economics, she shows how these currents produced distinct but ultimately complementary responses to the capitalist crisis of the 1970s. With its intellectual roots in the conservative Southern Democratic tradition, Virginia school public choice theory espoused an austere doctrine of budget balance. The supply-side movement, by contrast, advocated tax cuts without spending restraint and debt issuance without guilt, in an apparent repudiation of austerity. Yet, for all their differences, the two schools converged around the need to rein in the redistributive uses of public spending. Together, they drove a counterrevolution in public finance that deepened the divide between rich and poor and revived the fortunes of dynastic wealth.
Far-reaching as the neoliberal counterrevolution has been, Dr. Cooper still identifies a counterfactual history of unrealized possibilities in the capitalist crisis of the 1970s. She concludes by inviting us to rethink the concept of revolution and raises the question: Is another politics of extravagance possible?
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.
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We are all stuck in a money cage. Money isn’t the most important thing, but it is a thing and you can’t get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky’s The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself (Harriman House, 2024) breaks down walls around financial knowledge.
What a weathered investor knows is that stocks are not always good for the long run. They know that being stingy helps accrue wealth. They know the big thing when you buy property has nothing to do with the property. They know the big thing is less what happens to the markets in a day than if the entire system holds together. And they know what to look for if it’s time to pull out. That’s what this book will teach you: a lifetime of money learnings distilled to a thin volume, like a basic cooking recipe you can follow.
Paul Podolsky writes about macro–politics and money. For many years, he was the strategist and equity partner at the largest hedge fund in the world. Previous to that, he worked as a reporter.
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Agriculture remains a key sector of the economies of most Southeast Asian countries. It is supposed to provide nutritious, affordable, accessible and safe food to the people of SE Asia, and livelihood to more than 400 million farmers across the region. How is agriculture affected by climate change, and how can farmers cope with it? What is the relationship between farming and renewable energy installations, which require large land areas to be developed and thus encroach on agriculture? How to best manage water resources needed for farming, but threatened by climate change, and by pollution that often comes from farming?
To discuss the challenges posed by climate change, the role of adaptation, food safety issues, and the importance of effective institutions and policies in supporting and guiding agriculture in Southeast Asia, Tiho Ancev, Professor in Agricultural and Resource Economics at the School of Economics, USYD, joins the podcast. He is SSEAC’s Vietnam Country Convenor, a member of SSEAC’s executive, and member of the executive of Sydney Vietnam Academic Network (SVAN). His research interests are in the economics of climate change, the economics of agricultural policy, and the economics of water, energy, and the environment
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