New Books in Economics

Lithium, a crucial input in the batteries powering electric vehicles, has the potential to save the world from climate change. But even green solutions come at a cost. Mining lithium is environmentally destructive. We therefore confront a dilemma: Is it possible to save the world by harming it in the process? Having spent over a decade researching mining and oil sectors in Latin America, Thea Riofrancos is a leading voice on resource extraction. In this episode, we discuss her 2025 book Extraction: The Frontiers of Green Capitalism, in which she draws on groundbreaking fieldwork on the global race for lithium. Taking readers from the breathtaking salt flats of Chile’s Atacama Desert to Nevada’s glorious Silver Peak Range to the rolling hills of the Barroso Region of Portugal, the book reveals the social and environmental costs of “critical minerals.” She takes stock of new policy paradigms in the Global South, where governments seek to leverage mineral assets to jumpstart green development. Zooming out from lithium, we also discuss the evolving geopolitics and geoeconomics of energy transition, critical minerals, and green technology supply chains. — Thea Riofrancos is an Associate Professor of Political Science at Providence College, a Strategic Co-Director of the Climate and Community Institute, and a fellow at the Transnational Institute. Her research focuses on resource extraction, climate change, the energy transition, the global lithium sector, green technologies, social movements, and the Latin American left. She explored these themes in her book, Resource Radicals: From Petro-Nationalism to Post-Extractivism in Ecuador (Duke University Press, 2020), peer-reviewed articles in Cultural Studies, World Politics, and Global Environmental Politics, and her coauthored book, A Planet to Win: Why We Need a Green New Deal (Verso Books, 2019). Her essays have appeared in outlets including The New York Times, Financial Times, The Washington Post, Foreign Policy, The Guardian, and more. Thea’s latest book, which we discuss on this episode, is Extraction: The Frontiers of Green Capitalism (W.W. Norton 2025). Extraction: The Frontiers of Green Capitalism (W.W. Norton 2025) The Security–Sustainability Nexus: Lithium Onshoring in the Global North in Global Environmental Politics 2022 Resource Radicals: From Petro-Nationalism to Post-Extractivism in Ecuador (Duke University Press, 2020) A Planet to Win: Why We Need a Green New Deal (Verso Books, 2019) Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Stealing the Future is the first book to tell the true and full story of Sam Bankman-Fried and his historic crimes. It chronicles the $11 billion FTX fraud with the detail and nuance of a financial fraud expert and cryptocurrency insider – but unlike any book before it, it also traces the ideas that enabled the crime. “Effective Altruism” and related tendencies, such as longtermism and transhumanism, remain dangerously influential in today’s Silicon Valley. Despite Bankman-Fried’s pose as a cuddly liberal philanthropist, they are now center stage in the global rise of the far right, and also lie at the heart of OpenAI, the tech darling that took FTX’s place as the face of the future. In this interview, Morris explains how some of the key thought processes that drive today's techno-billionaires and how we can spot the next fraudsters in our midst.  Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

What's the secret to scoring a reservation at a hot new restaurant? When should you enter a lottery to increase your odds of winning? Why did your neighbor's kid get into a nearby preschool while yours didn't? Who gets priority for a life-saving organ donation? These outcomes are not a matter of luck. Instead, they depend on how we navigate hidden markets that arise to decide who gets what when many of us want something and there isn't enough to go around. Every day we play in these markets, yet few of us fully understand how they work. In familiar markets, what we get depends on how much we're willing to pay. Hidden markets do not rely on prices: you can't buy your way in to a better position. Instead, what you receive hinges on the rules by which the market operates, and the choices you make in them. Judd Kessler has spent a career studying and designing these very markets. Now, he reveals the secrets of how they work, and how to maneuver in them. Whether you want to snag a coveted ticket, secure a spot in an oversubscribed college course, get better matches in the dating and job markets, do your fair share of the household chores (but no more), or more efficiently allocate your time and attention, this must-read guide will show you how to get Lucky by Design. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

No other phenomenon has shaped human history as decisively as capitalism. It structures how we live and work, how we think about ourselves and others, how we organize our politics. Sven Beckert, author of the Bancroft Prize–winning Empire of Cotton, places the story of capitalism within the largest conceivable geographical and historical framework, tracing its history during the past millennium and across the world. An epic achievement, his book takes us into merchant businesses in Aden and car factories in Turin, onto the terrifyingly violent sugar plantations in Barbados, and within the world of women workers in textile factories in today’s Cambodia. Capitalism, argues Beckert, was born global. Emerging from trading communities across Asia, Africa, and Europe, capitalism’s radical recasting of economic life rooted itself only gradually. But then it burst onto the world scene, as a powerful alliance between European states and merchants propelled them, and their economic logic, across the oceans. This, Beckert shows, was modern capitalism’s big bang, and one of its epicenters was the slave labor camps of the Caribbean. This system, with its hierarchies that haunt us still, provided the liftoff for the radical transformations of the Industrial Revolution. Fueled by vast productivity increases along with coal and oil, capitalism pulled down old ways of life to crown itself the defining force of the modern world. This epic drama, shaped by state-backed institutions and imperial expansion, corresponded at no point to an idealized dream of free markets. Drawing on archives on six continents, Capitalism locates important modes of agency, resistance, innovation, and ruthless coercion everywhere in the world, opening the aperture from heads of state to rural cultivators. Beckert shows that despite the dependence on expansion, there always have been, and are still, areas of human life that the capitalist revolution has yet to reach. By chronicling capitalism’s global history, Beckert exposes the reality of the system that now seems simply “natural.” It is said that people can more easily imagine the end of the world than the end of capitalism. If there is one ultimate lesson in this extraordinary book, it’s how to leave that behind. Though cloaked in a false timelessness and universality, capitalism is, in reality, a recent human invention. Sven Beckert doesn’t merely tote up capitalism’s debits and credits. He shows us how to look through and beyond it to imagine a different and larger world. Soumyadeep Guha is a fourth-year PhD student in the History Department at Binghamton University, New York. He is interested in historical research focusing on themes such as Agrarian/Environmental History, History of Science and Tech, Global History, and their intersections. His prospective dissertation questions are on the pre-history of the ‘Green Revolution’ in Eastern India. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

What do the economics of decolonisation mean for the future of Aotearoa? This question drives the work of Dr. Matthew Scobie and Dr. Anna Sturman as they explore the complex relationship between tangata whenua and capitalism in The Economic Possibilities of Decolonisation (Bridget Williams Books, 2024). By weaving together historical insights and contemporary analysis, this book reveals the enduring influence of Māori economies and illuminates how these perspectives could radically transform Aotearoa’s political economy for the better. 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. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics