New Books in Economic and Business History

Decisions to go to war are often framed in cost-benefit terms, and typically such assessments do not factor in longer term costs. However, recent dramatic improvements in American military medicine have had an unanticipated effect: saving more soldiers' lives has vastly increased long-term, downstream costs of war with profound consequences for global politics in an era of heighten

In 1647, the French author Étienne Cleirac asserted in his book Les us, et coustumes de la mer that the credit instruments known as bills of exchange had been invented by Jews. In The Promise and Peril of Credit: What a Forgotten Legend about Jews and Finance Tells Us about the Making of European Commercial Society (Princeton University Press, 2019), Francesca Trivellato draws upo

The astonishing behind-the-scenes story of the 1963 film Cleopatra and how it changed the face of Hollywood makes it one of the most fabled films of all time. Starring Elizabeth Taylor and Richard Burton, the film’s making soon became a cautionary tale, for the lavish extravagance of production on Cleopatra all but bankrupted 20th Century Fox and almost singlehandedly set in moti

In many countries, property law grants equal rights to men and women. Why, then, do women still accumulate less wealth than men? Combining quantitative, ethnographic, and archival research, The Gender of Capital: How Families Perpetuate Wealth Inequality (Harvard UP, 2023) explains how and why, in every class of society, women are economically disadvantaged with respect to their hu

In the early nineteenth century, the American commercial marketplace was a chaotic, unregulated environment in which knock-offs and outright frauds thrived. Appearances could be deceiving, and entrepreneurs often relied on their personal reputations to close deals and make sales. Rapid industrialization and expanding trade routes opened new markets with enormous potential, but how

Histories of North Korea typically focus on one man — Kim Il Sung — and one narrative — his grand rise to absolute power. Andre Schmid’s new book, North Korea's Mundane Revolution: Socialist Living and the Rise of Kim Il Sung, 1953-1965 (University of California Press, 2024), tells a much more complex and richly textured story. Moving away from the focus on Kim Il Sung, Sch

The creation of the postwar welfare state in Great Britain did not represent the logical progression of governmental policy over a period of generations. As George R. Boyer details in The Winding Road to the Welfare State: Economic Insecurity and Social Welfare Policy in Britain (Princeton University Press, 2019), it only emerged after decades of different legislative responses to

Guilds were prominent in medieval and early modern Europe, but their economic role has seldom been studied. In The European Guilds: An Economic Analysis (Princeton University Press, 2019), Sheilagh Ogilvie offers a wide-ranging examination of what guilds did and how they affected pre-modern economies. As Ogilvie explains, guilds were particularized institutions which created and en

As the sun set slowly on the British Empire in the years after the Second World War, the nation's stately homes were in crisis. Tottering under the weight of rising taxes and a growing sense that they had no place in twentieth-century Britain, hundreds of ancestral piles were dismantled and demolished. Yet - perhaps surprisingly - many of these great houses survived, as dukes and d

In Disruption: The Global Economic Shocks of the 1970s and the End of the Cold War (Cornell University Press, 2024), Dr. Michael De Groot argues that the global economic upheaval of the 1970s was decisive in ending the Cold War. Both the West and the Soviet bloc struggled with the slowdown of economic growth; chaos in the international monetary system; inflation; shocks in the comm