Knowledge that Transforms

Mark Carlson of Board of Governors of the Federal Reserve System reviews “Seven Crashes: The Economic Crises that Shaped Globalization” by Harold James. The Econlit abstract of this book begins: “Explores the transformative effect of supply crises on globalization, promoting the argument that new institutions arise out of responses to these disruptions and that this changes the way that people conceive of the economic process.”

Carl Kitchens of Florida State University reviews “Democracy in Power: A History of Electrification in the United States” by Sandeep Vaheesan. The Econlit abstract of this book begins: “Explores the history of public control of power systems in the United States, assessing how the United States has, at least partially, averted a net-zero oligarchy in power.”

Jonathan H. Adler of William and Mary Law School reviews “The Chevron Doctrine: Its Rise and Fall, and the Future of the Administrative State” by Thomas W. Merrill. The Econlit abstract of this book begins: “Explores the standard that courts apply in determining whether an administrative agency has correctly interpreted the statute under which it operates, delving into where this standard – the Chevron doctrine – came from, how it spread, and arguments over its adequacy.”

Evelyn (Wamboye) Nyadwera of Penn State DuBois reviews “Africa and Preferential Trade: An Unpredictable Path for Development” by Richard E. Mshomba. The Econlit abstract of this book begins: “Explores nonreciprocal preferential trade arrangements as a form of foreign aid, considering potential benefits and risks of using such arrangements as a means of addressing economic challenges in least-developed countries (LDCs).”

Eric Chyn of University of Texas at Austin reviews “Savings and Trust: The Rise and Betrayal of the Freedman's Bank” by Justene Hill Edwards. The Econlit abstract of this book begins: “Chronicles the history of the Freedman's Bank from the perspective of the freed people who invested in the bank as depositors and the experiences of the bank's administrators, detailing how Black depositors' experiences with the bank, and the federal government's unwillingness to hold the perpetrators of its demise accountable, represented an under-explored aspect of the White racial violence that characterized Black people's lives during the Reconstruction and during the Gilded Age.”

Sarah Bloom Raskin of Colin W. Brown Distinguished Professor of Practice, Duke University School of Law reviews “Our Money: Monetary Policy as if Democracy Matters” by Leah Downey. The Econlit abstract of this book begins: “Explores how decisions about who gets to decide if, when, and on what terms money is created influence the possibilities for collective self-government, investigating the institutional arrangements that determine who makes these choices.”

Ross B. Emmett of Arizona State University reviews “Just Price in the Markets: A History” by Charles R. Geisst. The Econlit abstract of this book begins: “Traces the historical development of price theory, focusing on debates about the role of equity and morals in society from the time of Aristotle to the emergence of the law of one price.”

Charles Shapiro of University of California, Berkeley reviews “Rethinking Merger Analysis” by Louis Kaplow. The Econlit abstract of this book begins: “Explores major questions relevant to the analysis of horizontal mergers, assessing the appropriate way to set research agendas, formulate policy, and determine how best to analyze proposed mergers.”

Editor's Note Our policy is to annotate all English-language books on economics and related subjects that are sent to us. A very small number of foreign-language books are called to our attention and annotated by our consulting editors or others. Our staff does not monitor and order books published; therefore, if an annotation of a book does not appear six months after the publication date, please write to us or the publisher concerning the book.

The categories listed below are used to classify books, book reviews, journal articles, and dissertations indexed in JEL and EconLit. New changes to the classification system appear as soon as possible on www.econlit.org . The JEL classification system may be used freely for scholarly purposes. We suggest the following format: “JEL: A10, B10, etc.”