New Books in Economics

In Company Towns: Industry Power and the Historical Foundations of Public Mistrust (University of Chicago Press, 2026), Dr. Elizabeth Mitchell Elder examines the long-lasting political legacies of mining-company dominance in the Midwest and Appalachia. While the economic consequences of deindustrialization are well-known, Dr. Elder shifts the focus to a more insidious problem: the political dysfunction that took root long before the mines shut down.

Drawing on historical and administrative data, Dr. Elder shows that the coal industry hindered the growth of local government capacity in the places where it was dominant. Mining companies also engaged in outright corruption to shape local governments, practices which local elites then carried forward. When mining companies withdrew, they left behind not just economic decline, but local governments ill-equipped to govern.

These patterns have had enduring consequences for public life. Dr. Elder shows how these historical experiences have fueled a broader cynicism toward government, in which citizens expect little from public institutions and doubt the usefulness of elections. Company Towns underscores the consequences of corporate dominance for state capacity, public opinion, and democratic accountability 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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In his new book, The Political Economy of Security (Princeton University Press, 2026), Stephen Brooks provides a systematic empirical and theoretical examination of how economic factors influence security affairs. Empirically, he analyzes how various economic variables affect interstate war, terrorism, and civil war; in total, sixteen pathways are examined. 

Brooks shows that the relationship between economic factors and conflict is complex and multifaceted; discrete economic factors—such as international trade, economic development, and globalized manufacturing, to name a few—are sometimes helpful for promoting peace and stability, but at other times are detrimental. Brooks also develops a stronger theoretical foundation for guiding future research on the economics-security interaction.

Drawing on Adam Smith, he provides a more complete range of answers to the three key conceptual questions analysts must consider: how economic goals relate to security goals; what economic factors to focus on; and how economic actors influence security policies.Combining an innovative theoretical understanding with empirical rigor, Brooks’s account will reshape our understanding of the political economy of security.

Our guest is Professor Stephen Brooks, a Professor of Government at Dartmouth.

Our host is Eleonora Mattiacci, an Associate Professor of Political Science at Amherst College. She is the author of "Volatile States in International Politics" (Oxford University Press, 2023).
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We all understand that knowledge shapes the fate of business and the growth of nations, but few of us are aware of the principles that govern its motion. The Infinite Alphabet: And the Laws of Knowledge (Allen Lane, 2026) unravels the laws describing the growth and diffusion of knowledge by taking you from a failed attempt to build a city of knowledge in Ecuador to the growth of China's innovation economy. Through dozens of stories, you will learn why aircraft manufacturers in Italy began manufacturing scooters after the Second World War and how migrants like Samuel Slater shaped the industrial fabric of the United States. Knowledge is the secret to the wealth of nations. But to understand it, we must accept that it is not a single thing, but an ever-growing tapestry of unique ideas, experiences and received wisdom. An Infinite Alphabet that we are only beginning to fathom. César A. Hidalgo, a world-renowned scholar for his work on economic complexity, will walk you through the "three laws" and the many principles that govern how knowledge grows, moves, and decays. By the end of this journey, you will understand why knowledge grows exponentially in the electronics industry and what mechanisms govern its diffusion across geographic borders, social networks, and professional boundaries. Together these principles will teach you how knowledge shapes the world.

César A. Hidalgo is a physicist, professor, and author known for pioneering work in economic complexity, data visualization, and applied artificial intelligence. For nine years he led MIT's Collective Learning Group before moving to France to found the Center for Collective Learning (CCL), an international research laboratory with offices at the Toulouse School of Economics and Corvinus University of Budapest.

Caleb Zakarin is CEO and Publisher of the New Books Network.
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Today I’m speaking with economist Bryan Caplan about education and bullshit, with a particular focus on his book, The Case Against Education: Why the Education System Is a Waste of Time and Money (Princeton University Press, 2018).

In our modern economy, possessing a college degree feels like a necessity for professional advancement. The age of good jobs for college dropouts is largely gone as more people spend more time in the classroom, writing papers, taking tests, and, of course, goofing off. On the one hand, policymakers celebrate the additional degrees attained by more people. Surely a more educated society means a more intelligent and productive one. It’s no secret that college grads make more money than dropouts, and high school grads make more than those who didn’t complete 12th grade.

Why is this the case? Does more education truly endow students with the skills necessary to succeed in the working world, or does education merely serve to certify that an individual has the intelligence and people skills needed to succeed? If the primary value of education is to signal conformity to employers’ expectations, then education as we know it is a waste of time, energy, and money.

Degrees range in practicality, but most—like economics—hardly spend time teaching the kinds of skills that translate to the jobs most graduates actually take. As Bryan puts it, “As far as I can tell, the only marketable skill I teach is how to be an economics professor.” The world certainly needs some economics professors, but the sentiment behind the point reflects an undeniable dirty little secret. Professors, by and large, teach students about their favorite subjects, not skills for career success.

For years, I’ve trumpeted the line that the purpose of higher education is not to teach skills but rather to teach students how to think. The Case Against Education deflates this argument with statistics and great humor. As the type of student who loved taking Russian literature, political philosophy, and economic history, I’m thrilled to speak with Bryan Caplan about bullshit and education.

Bryan Caplan is Professor of Economics at George Mason University.

Caleb Zakarin is CEO and Publisher of the New Books Network.
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As European empires crumbled in the 20th century, the power structures that had dominated the world for centuries were up for renegotiation. Yet instead of a rebirth for democracy, what emerged was a silent coup – namely, the unstoppable rise of global corporate power.
Exposing the origins of this epic power grab as well as its present-day consequences, Silent Coup: How Corporations Overthrew Democracy (Bloomsbury, 2023) by Claire Provost & Matt Kennard is the result of two investigative journalist's reports from 30 countries around the world. It provides an explosive guide to the rise of a corporate empire that now dictates how resources are allocated, how territories are governed, and how justice is defined.
This interview was conducted by Dr. Miranda Melcher whose doctoral work focused 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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Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics