New Books in Economics

A stirring, comprehensive look at the state of women in the workforce--why women's progress has stalled, how our economy fosters unproductive competition, and how we can fix the system that holds women back.

In an era of supposed great equality, women are still falling behind in the workplace. Even with more women in the workforce than in decades past, wage gaps continue to increase. It is the most educated women who have fallen the furthest behind. Blue-collar women hold the most insecure and badly paid jobs in our economy. And even as we celebrate high-profile representation--women on the board of Fortune 500 companies and our first female vice president--women have limited recourse when they experience harassment and discrimination.

Fair Shake: Women and the Fight to Build a Just Economy (Simon & Schuster, 2023) explains that the system that governs our economy--a winner-take-all economy--is the root cause of these myriad problems. The WTA economy self-selects for aggressive, cutthroat business tactics, which creates a feedback loop that sidelines women. The authors, three legal scholars, call this feedback loop "the triple bind" if women don't compete on the same terms as men, they lose; if women do compete on the same terms as men, they're punished more harshly for their sharp elbows or actual misdeeds; and when women see that they can't win on the same terms as men, they take themselves out of the game (if they haven't been pushed out already). With odds like these stacked against them, it's no wonder women feel like, no matter how hard they work, they can't get ahead.

Fair Shake is not a "fix the woman" book; it's a "fix the system" book. It not only diagnoses the problem of what's wrong with the modern economy, but shows how, with awareness and collective action, we can build a truly just economy for all.

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The clerk attended his desk and counter at the intersection of two great themes of modern historical experience: the development of a market economy and of a society governed from below. Who better illustrates the daily practice and production of this modernity than someone of no particular account assigned with overseeing all the new buying and selling? In Accounting for Capitalism: The World the Clerk Made (U Chicago Press, 2018), Michael Zakim has written their story, a social history of capital that seeks to explain how the “bottom line” became a synonym for truth in an age shorn of absolutes, grafted onto our very sense of reason and trust.

This is a big story, told through an ostensibly marginal event: the birth of a class of “merchant clerks” in the United States in the middle of the nineteenth century. The personal trajectory of these young men from farm to metropolis, homestead to boarding house, and, most significantly, from growing things to selling them exemplified the enormous social effort required to domesticate the profit motive and turn it into the practical foundation of civic life. As Zakim reveals in his highly original study, there was nothing natural or preordained about the stunning ascendance of this capitalism and its radical transformation of the relationship between “Man and Mammon.”

Lukas Rieppel teaches history at Brown University. His new book, Assembling the Dinosaur, has recently been published by Harvard University press. You can find him online at https://sites.google.com/view/lukasrieppel/ or on twitter @lrieppel.

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We spoke with Edward Cartwright about his textbook ‘Behavioral Economics’ structured into four parts and eleven chapters. This is now the third edition published by Routledge and it is a leading advanced textbook on Behavioral Economics. Edward is also co-author with Robert Frank on the European edition of the popular Microeconomics and Behaviour textbook. Edward is associate editor at the Journal of Public Economic Theory and Fellow of the Higher Education Academy.

I asked about his personal background and about the origin of the book that at its first edition was one of the pioneering textbooks available. Edward then provided a short introduction to Behavioral Economics and located it in the mainstream / heterodox economics debate. We also discussed how Behavioral Economics contributed to modify the relationship between macro and micro. Edward mentioned the impact of Behavioral Economics to economic theory and policy making (last chapter of the book). We discussed the ethical implications of applied behavioral research and we mentioned the field of happiness economics covered in chapter 11.

Edward’s main research interests are in behavioural economics, game theory and public economics. Much of his research analyses cooperation in small groups, exploring the role of social norms, leadership, framing and communication. Another strand of work looks at conformity, prejudice and discrimination. Further research interests include cyber-security and doping in sport.

Over the last few decades behavioral economics has revolutionized the discipline. It has done so by putting the human back into economics, by recognizing that people sometimes make mistakes, care about others and are generally not as cold and calculating as economists have traditionally assumed. The results have been exciting and fascinating, and have fundamentally changed the way we look at economic behavior.

This textbook introduces all the key results and insights of behavioral economics to a student audience. Ideas such as mental accounting, prospect theory, present bias, inequality aversion and learning are explained in detail. These ideas are also applied in diverse settings such as auctions, stock market crashes, charitable donations and health care, to show why behavioral economics is crucial to understanding the world around us. Consideration is also given to what makes people happy, and how we can potentially nudge people to be happier.

Andrea Bernardi is Senior Lecturer in Employment and Organization Studies at Oxford Brookes University in the UK. He holds a doctorate in Organization Theory from the University of Milan, Bicocca. He has held teaching and research positions in Italy, China and the UK. Among his research interests are the use of history in management studies, the co-operative sector, and Chinese co-operatives. His latest project is looking at health care in rural China. He is the co-convener of the EAEPE’s permanent track on Critical Management Studies.

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Dr. Shahrukh Khan's new textbook Development Economics: A Critical Introduction (Routledge, 2019) is a fantastic book for teachers and students trying to get into the field of development economics. Covering all the major topic in the field such as foreign direct investment, foreign aid, institutions and good governance, data collection, and heterodox approaches the book immerses the reader into fundamental questions of development and underdevelopment.

What sets this work apart is both the centrality it places on covering all of the diversity in the field of development economics. From neo-Marxists to neo-liberals and everything in between, the book honors and critiques the value of each approach to understanding development. The book is easily read, engaging, and perfect for anyone looking to teach an intro to development class.

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Many studies of China's relations with and influence on Southeast Asia tend to focus on how Beijing has used its power asymmetry to achieve regional influence. Yet, scholars and pundits often fail to appreciate the complexity of the contemporary Chinese state and society, and just how fragmented, decentralized, and internationalized China is today.

In The Ripple Effect: China's Complex Presence in Southeast Asia (Oxford UP, 2024), Enze Han argues that a focus on the Chinese state alone is not sufficient for a comprehensive understanding of China's influence in Southeast Asia. Instead, we must look beyond the Chinese state, to non-state actors from China, such as private businesses and Chinese migrants. These actors affect people's perception of China in a variety of ways, and they often have wide-ranging as well as long-lasting effects on bilateral relations. Looking beyond the Chinese state's intentional influence reveals many situations that result in unanticipated changes in Southeast Asia. Han proposes that to understand this increasingly globalized China, we need more conceptual flexibility regarding which Chinese actors are important to China's relations, and how they wield this influence, whether intentional or not.

The Ripple Effect makes the case that to understand China's relationship with Southeast Asia, it is necessary to move beyond a narrow fixation on the Chinese state by scrutinizing the ordinary manifestations of China's presence in the region and recognizing the multifaceted web of actors and their effects on the dynamics between the two regions.

Enze Han is an associate professor of politics at the University of Hong Kong. He works on the international relations of East Asia, Southeast Asian politics and China-Southeast Asia relations. This is his third single-authored book from Oxford University Press.

Enze is in conversation with Duncan McCargo, President's Chair in Global Affairs at Nanyang Technological University and one of the hosts on New Books in Southeast Asian Studies. Duncan's recent co-authored article on the relationship between Thai politics and attitudes to China, mentioned during the podcast, may be found here.

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