New Books in Economic and Business History

Baruch Fischhoff's Bounded Disciplines and Unbounded Problems: A Vision for Management Science (Oxford University Press, 2025), part of the Clarendon Lectures in Management series) tackles a central tension in academia that disciplines are organized around narrow, bounded methods and theories, while the real-world problems society faces such as climate change, public health, financial crises, technology risk are messy, unbounded, and refuse to respect departmental boundaries. Fischhoff argues that business schools are uniquely positioned to bridge this gap because they already house faculty with both rigorous analytical training and applied, real-world orientation. The book proposes concrete ways management schools can restructure incentives, training, and collaboration so scholars can excel in their discipline while still meaningfully engaging with intractable societal problems.
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Since the advent of computers, society has fantasized about conversing with machines. In Divination Engines: Natural Language Processing, Artificial Intelligence, and the Making of Algorithmic Culture
(University of Chicago Press, 2026), Dr. Xiaochang Li shows readers how
that dream both fueled the demand for data and set the stage for
today’s generative AI. 

With original research and clear
explanations, Dr. Li elucidates the origins of what’s
known as natural language processing (NLP) and the heated
twentieth-century debates between computer scientists, linguists, and
communication engineers that shaped today’s technology. Starting with
early devices that recorded, analyzed, and attempted to interpret human
speech, she demonstrates
how computer speech recognition, particularly efforts led by Bell Labs
and IBM, advanced technology by deemphasizing linguistic meaning in
favor of statistical prediction. In other words, researchers gradually
abandoned systems that sought to understand human language, opting
instead for work-arounds
that simply predicted patterns in speech and text data. That solution
became incredibly and surprisingly adaptable. As Dr. Li reveals,
transforming linguistic questions into engineering ones ushered in the
routine operation of search engines, spam filters, and the varied
content sorting and recommendation mechanisms that regulate the access,
circulation, and legitimacy of information across every platform. But
this has all come at the cost of forever requiring copious and
ever-growing amounts of new data.

At its core, Divination Engines
illuminates how the artifacts of human communication—speech, text, and
images—have become both the fodder for and products of computers. This
connection between communication and computation, Li shows, has given
rise to data-driven analytics, machine learning, and today’s algorithmic
culture.

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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Blue Sea, Black Gold, Red Banner: The South Caucasus and Scandinavia, 1880s–1920s
(Northern Illinois University Press, 2026) tells the story of the
historical connections between two geographically distant and culturally
distinct regions on the edges of Europe: Scandinavia and the South
Caucasus. From the late nineteenth century, maritime trade fostered new
commercial links and consular relations. Scandinavian merchants,
particularly in Batumi and Baku, played key roles. The discovery of oil
along the Caspian Sea shores attracted Scandinavian entrepreneurs,
notably the Swedish Nobel family, helping to develop Baku into a booming
industrial hub.

Tom
Trier focuses on the years of upheaval surrounding World War I and the
collapse of the Russian Empire, when Georgia—along with Armenia and
Azerbaijan—briefly emerged
as an independent republic. The four-decade relationship ended abruptly
during the Bolshevik Red Army's invasion of the South Caucasus from
1920 to 1921. Drawing on both Scandinavian and Georgian perspectives, Blue Sea, Black Gold, Red Banner
examines how Nordic merchants, consuls, and diplomats navigated the
shifting political landscape and how Georgia's social democratic
leadership looked to neutral Scandinavia as a gateway to broader
European political, diplomatic, and economic engagement.

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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It is quite easy to find corruption within nonprofits. This is particularly the case in the subsector of not-for-profits that are incorporated as traditional 501(c)(3) entities. With the continuing erosion of public confidence in charities, these institutions must act now, both individually and collectively, to bolster trust and ensure public support for nonprofits that has been a hallmark of American democracy.

This book explores the causes of malfeasance in the nonprofit realm. It examines how the current inadequate regulatory environment—together with inherent “agency” problems―can lead organizations astray as they turn away from fulfilling donor wishes to instead act in their own self-interest. The book highlights the distinction between “soft corruption” in the nonprofit sector and “hard corruption.” The former includes the misuse of donor funds that do not cross the line into illegality and the latter covers explicitly illegal misappropriation of contributions.

In Foul Play in the Nonprofit Sector: Analyzing Corruption in US Charities (Palgrave Macmillan, 2024), economist Mark S. LeClair provides constructive overviews regarding charity evaluation. Is it truly fair to judge nonprofits on their financials? The financial figures so frequently dictate the value of a nonprofit, and this often isn’t the best way to judge a charity’s performance. The manuscript includes suggestions for internal sectoral changes and regulatory reforms that can deter corruption at nonprofits.
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In our recent conversation about Protecting Workers? Crisis, COVID-19 and South Asia, the editors Kanchana N. Ruwanpura and Wilfried Swenden reflect on the need to move beyond treating the pandemic as a singular, isolated shock. Our discussion reflected on the deeper mechanics of knowledge production, how we reflect on crisis beyond its immediate occurrence, how we conceptualize South Asia today, and the process of bringing such a dynamic volume together.

A central theme was the necessity of examining crisis as a revealing, prolonged condition rather than a temporary disruption. The COVID-19 pandemic exposed pre-existing structural vulnerabilities across Bangladesh, India, Nepal, Pakistan, and Sri Lanka. Theorizing through this moment meant examining how state strategies and worker realities collided when formal safety nets faltered, forcing us to rethink South Asia not merely as a fixed geographic region, but as a shared space of cascading socio-economic pressures and labor struggles. While this volume traces state policy and institutional shifts, the core strength of the volume lies in highlighting the resourcefulness and claim-making capacities of workers fighting for justice. Assembling these regional perspectives provides a critical blueprint for rethinking state-society relations, labor rights, and collective action in post-pandemic South Asia.
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