New Books in Economics

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 that “it wasn’t always this way.” Capitalism is not natural, timeless, or inevitable.

Trevor Jackson is an economic historian at the University of California, Berkeley. He previous book, Impunity and Capitalism: The Afterlives of European Financial Crises, 1690–1830, was published by Cambridge University Press in 2022.

Steven P. Rodriguez is a scholarly publishing professional and historian.
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Hello! Thanks for reaching out. I'm glad you're here! Do you have any questions or thoughts about the recent discussion with Karen Hao on AI and its societal impacts?Hello! Thanks for reaching out. I'm glad you're here! Do you have any questions or thoughts about the recent discussion with Karen Hao on AI and its societal impacts?
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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 why tensions between the US and China have escalated, threatening global commerce and stability. Finally, the author offers guidance on how business people can think about China, and what it takes to succeed, whether it's navigating the narrow corridor between what China wants and what the US will allow, partnering with rather than competing against local players, or structuring businesses to minimize risk if a catastrophic event takes place, as appears more and more likely.
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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 activate your values.
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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 instability and populism; how economic policy can best serve American workers and families; and what makes us hopeful for the country’s future during its 250th anniversary.

Hosted by Ryan Shinkel, Madison’s Notes is the podcast of Princeton University’s James Madison Program in American Ideals and Institutions. The transcript for this interview is available on our new Substack page, “Madison’s Footnotes.”
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