New Books in Economics

There is a widespread sense throughout the developed world that
progress towards a better society has stalled. Many countries, including
the UK, have experienced persistent economic stagnation accompanied by
declining trust in institutions. Governments are struggling to respond
not only to traditional economic problems but also to newer challenges
posed by climate change, migration and technological change. Challenging Inequalities: How We Got Stuck and Where We Go Next (Princeton
University Press, 2026), written by Paul Johnson and coauthors, drawing
on the findings of the six-year IFS Deaton Review, connects these
conditions to inequality—inequality not just of income and wealth but of
health, political participation and opportunity. It not only offers a
detailed analysis of the different forms of inequalities but also an
in-depth consideration of why inequalities matter, how they have changed
and what can, or should, be done about them.

The book explains
the enduring effects of early life experiences and education and
examines the trends in employment and earnings over recent decades. It
argues that economic stagnation since the financial crises of 2008–2009
has exposed inequalities originating in the 1980s. Not only have incomes
stagnated, but so has progress towards reducing health inequalities and
dealing with inequalities across gender, ethnicity, geography, age and
educational level. The combination of earnings inequality and economic
stagnation has led to the growing importance of wealth, the increasing
concentration of economic power in an older generation and a decline in
social mobility. Economic inequalities have also resulted directly in
dangerous differences between regions and in political power across
groups.

The need to address inequality has never been more urgent. Challenging Inequalities offers
a road map for how we have arrived at such a perilous spot—and how we
can change course to achieve better outcomes for all.

Paul Johnson
is provost of the Queen’s College, University of Oxford, and former
director of the Institute for Fiscal Studies (IFS). He is the author of
the Sunday Times bestseller Follow the Money.

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.
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Can philanthropy be an anti-racist, feminist, relational, and joyful
expression of solidarity? This book argues that it not only can be for
the future we seek and for philanthropy to achieve its greatest impact,
but it must be.

Nationally recognized philanthropic
leader Dimple Abichandani revolutionizes the precepts of modern
philanthropy. Offering 10 provocative practice shifts, A New Era of Philanthropy: Ten Practices to Transform Wealth into a More Just and Sustainable Future (North
Atlantic Books, 2025) engages readers with fresh answers to the
question of how philanthropy can meet this high-stakes moment. This book
picks up where key books like Decolonizing Wealth and Winners Take All
leave off, offering a guide for donors, foundations, and non-profit
leaders navigating philanthropy in urgent times. Clear-eyed, hopeful,
and responsive to the moment, this book helps us reimagine the purpose
and norms of modern philanthropy. It is an invitation to all of us who
believe these resources can contribute to a more just future: start here.
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A surprising look at the big business of owning small businesses and what America's franchise economy means for its workers.

Walk into a McDonald's anywhere in the United States, and it will be identical to every other McDonald's in the country. Yet, that particular store is almost certainly owned and operated by an "independent" franchisee. While McDonald's presents an image of centralized uniformity to the consumer, it shows a different face to the small business owners operating its stores under its control and the workers preparing its product to its standards. How then does McDonald's--and its big business peers--manage to be two things at once?

In this revelatory work Chains of Command: The Rise and Cruel Reign of the Franchise Economy (U Chicago Press, 2026), economist Brian Callaci shows how franchisors have altered the legal treatment of corporations in their favor through a decades-long crusade of lobbying and litigation. Their efforts subsequently unleashed a slew of legal and economic sins upon the US economy and labor force, allowing multinational corporations to control continent-spanning empires while outsourcing employment and scapegoating legal responsibilities onto small businesses. The result: the unfettered growth of some of America's most recognizable businesses, at the aggregate expense of America's workers.

Remarkable in both its scale and synthesis, Callaci's story is the first chronicle of this business movement--initially resisted by US courts before experiencing a dramatic reversal of fortune after decades of campaigning by some of America's most established entrepreneurs. An urgent and erudite history, Chains of Command reveals how the US labor market was tamed one small business at a time.
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In the 1970s, as women started to enter the labor force in unprecedented numbers, economists began to examine their roles as economic actors. The result was the rise of gender economics, now a major subfield with powerful data and new methods comparing the economic lives of men and women. Yet despite decades of progress, many of the most consequential questions about gender inequality remain unresolved.

In How Economics Discovered Women: Bringing Gender Economics into the Twenty-First Century (U California Press, 2026), renowned economist and demographer Dr. Shelly Lundberg argues that the problem is not a lack of evidence but a failure to challenge entrenched economic models and outmoded assumptions about markets and gender that have limited what the field can explain.

Why does occupational segregation persist? Why do "women's jobs" pay less? Why are men falling behind in education? And why do policies like paternity leave fail to change behavior? Drawing on more than five decades in the field and integrating insights from other social sciences, Dr. Lundberg explains signs of recent progress and charts a path toward a more realistic, socially grounded economics capable of meeting the challenges of gender inequality today.

This interview was conducted by Dr. Miranda Melcher whose 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. You can find Miranda’s interviews on New Books with Miranda Melcher, wherever you get your podcasts.
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Chinese investment in the United States has become an increasingly contentious issue that is much more complicated than headlines suggest. In this episode, we reflect on recent debates in Michigan’s democratic primary and use it as a jumping-off point to examine more than 25 years of Chinese investment in the US and subnational relationships with Chinese business. We’re joined by Emily Conrad, whose research examines Chinese manufacturing investment in the US. We discuss where investment is concentrated and how local governments interact with investments, with attitudes ranging from facilitation to passivity to obstruction. We also discuss how Chinese companies navigate the present environment and varied contexts across the US. As federal scrutiny has intensified and states have introduced new restrictions on foreign land ownership and investment, Chinese firms face mounting political and regulatory headwinds. Yet, investments have not disappeared, and companies are adapting, raising questions about how geopolitics is reshaping investment, manufacturing and subnational policies and politics in the US.

Sign up for Emily’s Substack

Emily’s book The Faithless?: The Untold Story of the Electoral College

Analysis of State Attitudes towards Chinese investments over time from Conrad’s research here

Other resources from the episode:

Rhodium Group’s China cross-border monitor

YouTube podcast with Abdul al-Sayed that mentions some about China: here

Wall Street Journal article about the State Armor organization: here

NPR podcast with one of the best overviews on Gotion:here

More on Gotion:

‘No CCP in USA!’: Inside a Michigan town's unhinged war over a Chinese battery plant

A Chinese battery company bet on a small Michigan town for its U.S. expansion

Michigan Democratic U.S. Senate primary debate audio used in this episode

Tweet on the CCP by Sen. Elissa Slotkin

Financial Times article, China’s assault on Europe’s car market has barely begun

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