Today I talked to Sue Unerman about her new book Belonging: The Key to Transforming and Maintaining Diversity, Inclusions and Equality at Work (Bloomsbury, 2020) How is it that $8 billion a year gets thrown at diversity training and yet next-to-nothing changes? One person who isn’t giving up is Sue Unerman, who along with her co-authors Kathryn Jacob and Mark Edwards favors a full-court press of changes in order to improve the degree to which women get represented in the ranks of senior management at companies. From how meetings are run, to how teams are built, and of course who gets promoted and receives how much in compensation, the scope of this episode is broad. A particular focus is detrimental “banter” that’s hardly as light-hearted as it’s made out to be. Add to that the Glass Slipper problem of people trying to fit into a culture that should, instead, be blown wide-open and allow all types, and you’ve got a feel for how Unerman is urging reforms. Sue Unerman is the Chief Transformation Office at MediaCom, the largest media agency in the UK with over 200 clients. Along with Kathryn Jacob, she is also the co-author of The Glass Wall. Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Politics. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com.  Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

New Books in Economics

Sue Unerman, "Belonging: The Key to Transforming and Maintaining Diversity, Inclusions and Equality at Work" (Bloomsbury, 2020)

In this episode, Daniel Peris, the host of the “Keep Calm and Carry On Investing” podcast, and David Finegold have a wide-ranging discussion of economics and governance questions inherent in K-12 and higher education. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The Economics of Higher Education

A century ago, it was a given that a woman with a college degree had to choose between having a career and a family. Today, there are more female college graduates than ever before, and more women want to have a career and family, yet challenges persist at work and at home. This book traces how generations of women have responded to the problem of balancing career and family as the twentieth century experienced a sea change in gender equality, revealing why true equity for dual career couples remains frustratingly out of reach. Drawing on decades of her own groundbreaking research, Claudia Goldin provides a fresh, in-depth look at the diverse experiences of college-educated women from the 1900s to today, examining the aspirations they formed—and the barriers they faced—in terms of career, job, marriage, and children. She shows how many professions are “greedy,” paying disproportionately more for long hours and weekend work, and how this perpetuates disparities between women and men. Goldin demonstrates how the era of COVID-19 has severely hindered women’s advancement, yet how the growth of remote and flexible work may be the pandemic’s silver lining. Antidiscrimination laws and unbiased managers, while valuable, are not enough. Career and Family: Women’s Century-Long Journey toward Equity (Princeton UP, 2021) explains why we must make fundamental changes to the way we work and how we value caregiving if we are ever to achieve gender equality and couple equity. Marshall Poe is the founder and editor of the New Books Network. He can be reached at marshallpoe@newbooksnetwork.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Claudia Goldin, "Career and Family: Women’s Century-Long Journey toward Equity" (Princeton UP, 2021)

Today I talked to Jackie Fast about her new book Rule Breaker: Rebellious Leadership for the Future of Work (Kogan Page, 2021). Imagine finding yourself in a career sector, sponsorship, because it’s the way to get a visa and stay in England. Well, that’s what happened to Jackie Fast. And as things turned out, she was very good at sponsorship work. In a few years her ability to put two brands together for a campaign, or more, a kind of temporary Merger and Acquisition, meant she was spending time doing work for Richard Branson on an island he owns in the Caribbean. From the vantage point of her highly successful, entrepreneurial career, what strikes Fast is, indeed, how fast the world is changing. Few if any older executives will manage the transition, she believes, to a world where the internet has democratized big business and where Millennials and Gen Z members favor a values-based approach that puts meaningful work you enjoy front and center in their career aspirations. Jackie Fast is the founder of the venture capital firm Sandbox Studios, which invests in celebrity-owned brands and has worked with The Rolling Stones, Red Bull, Zoom, Formula One, Virgin, Allianz and Universal Music among others. Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Politics. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Jackie Fast, "Rule Breaker: Rebellious Leadership for the Future of Work" (Kogan Page, 2021)

Jeffrey Hooke's The Myth of Private Equity: An Inside Look at Wall Street's Transformative Investments (Columbia Business School, 2021) is a scathing indictment of the high-flying world of private equity. Piece by piece, Hooke takes apart the PE value proposition and shows, instead of the claimed "higher returns and lower volatility", a startling record of poor performance, exorbitant fees, completely opaque reporting, and a network of enablers that allow the business model to proceed.  Daniel Peris is Senior Vice President at Federated Hermes in Pittsburgh. He can be reached at DanielxPeris@gmail.com or via Twitter @HistoryInvestor. His History and Investing blog and Keep Calm & Carry On Investing podcast are at https://strategicdividendinves... Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Jeffrey C. Hooke, "The Myth of Private Equity: An Inside Look at Wall Street's Transformative Investments" (Columbia Business School, 2021)

An event-by-event look at how institutionalized racism harms the health of African Americans in the twenty-first century A crucial component of anti-Black racism is the unconscionable disparity in health outcomes between Black and white Americans.  Sickening: Anti-Black Racism and Health Disparities in the United States (U Minnesota Press, 2021) examines this institutionalized inequality through dramatic, concrete events from the past two decades, revealing how unequal living conditions and inadequate medical care have become routine. From the spike in chronic disease after Hurricane Katrina to the lack of protection for Black residents during the Flint water crisis--and even the life-threatening childbirth experience for tennis star Serena Williams--author Anne Pollock takes readers on a journey through the diversity of anti-Black racism operating in healthcare. She goes beneath the surface to deconstruct the structures that make these events possible, including mass incarceration, police brutality, and the hypervisibility of Black athletes' bodies. Ultimately, Sickening shows what these shocking events reveal about the everyday racialization of health in the United States. Concluding with a vital examination of racialized healthcare during the COVID pandemic and the Black Lives Matter rebellions of 2020, Sickening cuts through the mind-numbing statistics to vividly portray healthcare inequalities. In a gripping and passionate style, Pollock shows the devastating reality and consequences of systemic racism on the lives and health of Black Americans. Claire Clark is a medical educator, historian of medicine, and associate professor in the University of Kentucky’s College of Medicine. She teaches and writes about health behavior in historical context. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Anne Pollock, "Sickening: Anti-Black Racism and Health Disparities in the United States" (U Minnesota Press, 2021)

Today I talked to Soo Bong Peer about her new book The Essential Diversity Mindset: How to Cultivate a More Inclusive Culture and Environment (Career Press, 2021) In 1967, bans on interracial marriages were finally declared unconstitutional in America. Only a decade earlier than that, merely 4% of Americans endorsed them. Today, the figure is 87% approval. So clearly, progress has been made in a country whose citizens are often multiracial as well as in interracial marriages and relationships. How can the momentum to accepting people as they are and not by dividing us based on race, gender and sexual orientation be reignited in these divisive times? Soo Bong Peer’s suggestions are of both a personal and systemic nature, ranging from practicing greater empathy to having leaders seek to be more open to dialogue with employees with distinctly different perspectives and experiences from theirs. One idea, inspired by this book: to cite Roger Ebert, movies “are like a machine that generates empathy.” So instead of movie night at home or lecture-style, lunch-’n-learn sessions at company headquarters, maybe movies-at-lunch should become a Friday feature! Soo Bong Peer is a strategy consultant and executive coach for Fortune 500 companies. The daughter of a prominent South Korean general and ambassador to Mexico, she has lived in multiple countries, including the U.S. for the past 50 years. Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Politics. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Soo Bong Peer, "The Essential Diversity Mindset: How to Cultivate a More Inclusive Culture and Environment" (Career Press, 2021)

Neoclassical economic theory shows that under the right conditions, prices alone can guide markets to efficient outcomes. But what if it it’s hard to find the right price? In many important markets, a buyer’s willingness to pay for one good (say, the right to use a certain part of the radio spectrum range in San Francisco) will depend on the price of another complementary good (the right to use that same spectrum in Los Angeles). The number of possible combinations can rapidly become incalculably complex. Such complex markets require new collaborations between economists and computer scientists to create designs that are both incentive compatible and computationally tractable. In Discovering Prices: Auction Design in Markets with Complex Constraints (Columbia UP, 2017), 2020 Economics Nobel Memorial Prize winner Paul Milgrom discusses some of the new economics theory he has developed to help address these challenging contexts, in which neither unfettered market forces nor top-down planning will work well. In our interview we explore these ideas in the context of the most complex auction ever created, the FCC’s broadcast incentive auction. This auction, designed and planned by a team led by Professor Milgrom with his company Auctionomics, purchased underutilized broadcast spectrum from television stations and sold it onward to telecoms providers. This reallocation helped improve wireless network performance and pave the way for 5G wireless services, while also generating over $7 billion for the US treasury. Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco, where he leads a new digital economy-focused Master's program in Applied Economics. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Paul Milgrom, "Discovering Prices: Auction Design in Markets with Complex Constraints" (Columbia UP, 2017)

In Who Gets What — and Why: The New Economics of Matchmaking and Market Design (Mariner Books, 2015), Nobel Memorial Prize Winner Alvin Roth explains his pioneering work in the study of matching markets such as kidney exchange, marriage, job placements for new doctors and new professors, and enrollments in schools or colleges. In these markets, “buyers” and “sellers” must each chose the other, and getting the prices right is only a small part of what makes for a successful transaction, if cash is even involved at all. Roth’s work has led the way in taking microeconomics outside the halls of academic theory to become a practical “engineering” tool for policymakers and businesses. In our interview, we range far beyond the examples from the book to discuss the implications of his work for the design of tech’s market-making “platform” businesses like Airbnb, Amazon, Lyft, or Uber, the challenges he faces when countries or people view some kinds of transactions as “repugnant” or morally unacceptable, and the reasons why San Francisco’s school district (unlike Boston’s or New York’s) chose not to implement the un-gameable school choice plan his team devised for them. Host Peter Lorentzen is an Associate Professor in the Department of Economics at the University of San Francisco, where he leads a new digital economy-focused Master's program in Applied Economics. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Alvin E. Roth, "Who Gets What--and Why: The New Economics of Matchmaking and Market Design" (HMH, 2015)

Today I talked to Martin Reeves and Jack Fuller about their new book The Imagination Machine: How to Spark New Ideas and Create Your Company’s Future (Harvard Business Review Press, 2021).  Since the 1990s, the fade rate (i.e., the inability of companies to stay out ahead of their closest rivals) has gone from sustaining a lead on average for 10 years to now merely a single year. So focusing on offer innovation alone won’t suffice. A company that will survive and thrive must re-imagine really every aspect of the company’s culture and operations to succeed. That move requires an open mind and an inquisitive spirit not averse to surprise but, instead, welcoming of them. Who better than these two authors to take on that task? Reeves is in his own words a “failed” musician and biologist turned businessperson, and Fuller likewise prefers to go “inside” people and organizations to understand how their minds and even their very “souls” perform. This is an episode devoted, in short, to how can a company re-humanize itself in an age when converging forces requires a wholesale change. Martin Reeves is a Senior Partner and Managing Director at BCG, i.e., the Boston Consulting Group. He’s also the Chairman of the BCG Henderson Institute, BCG’s internal think tank. Jack Fuller is a former special project manager at the BCG Henderson Institute, and the founder of Casati Health, a company that reimagines mental and physical health. He’s a Rhodes Scholar with a background that combines neuroscience and philosophical theology. Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Politics. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Martin Reeves and Jack Fuller, "The Imagination Machine: How to Spark New Ideas and Create Your Company’s Future" (HBR Press, 2021)

This is a book about the American Dream: how to understand this central principle of American public philosophy, the ways in which it is threatened by a number of winner-take-all economic trends, and how to make it a reality for workers and their families in the 21st century. Integrating political philosophy and the history of political thought with recent work in economics, political science, and sociology, Joshua Preiss' book Just Work for All: The American Dream in the 21st Century (Taylor & Francis, 2020) calls for renewed political and policy commitment to "just work." Such a commitment is essential to combat the negative moral externalities of an economy where the fruits of growth are increasingly claimed by a relatively small portion of the population: slower growth, rising inequality, declining absolute mobility, dying communities, the erosion of social solidarity, lack of faith in political leaders and institutions, exploding debt, ethnic and nationalist backlash, widespread hopelessness, and the rapid rise in what economists Angus Deaton and Anne Case call deaths of despair. Covid-19 threatens to pour gasoline on these winner-take-all fires, further concentrating economic and political power in the hands of those best suited to withstand (and even profit from) the pandemic-driven economic crisis. In this book, the author provides a model for understanding the American Dream and making it a reality in a post-Covid-19 economy. A tour de force, this book is essential reading for scholars and researchers of political philosophy, political economy, political theory, and economics, as well as for the layperson trying to make sense of the post-pandemic world. Tom Discenna is Professor of Communication at Oakland University whose work examines issues of academic labor and communicative labor more broadly. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Joshua Preiss, "Just Work for All: The American Dream in the 21st Century" (Taylor & Francis, 2020)

Today I talked to Maya Hu-Chan about her new book Saving Face: How to Preserve Dignity and Build Trust (Berrett-Koehler Publishers, 2020) There are so many sayings that involve the face, but perhaps none is more central to at least Asian culture than “saving face.” That’s because it represents retaining one’s dignity versus being embarrassed or humiliated in front of others. In truth, though, everyone wants nothing more than to be appreciated, as the psychologist William James recognized long ago. In this episode, Maya Hu-Chan puts “faces” into a business context for listeners. In a meeting between Western versus Eastern executives, for instance, how will a long silence be handled? Odds are usually that it’s the Americans who will jump in first, breaking the silence. Given more than 20 years of international business experience, Hu-Chan takes listeners through why regional, company and individual personality differences matter so much. Are you a high-context or low-context person? It’s time to find out by taking in this episode that involves the platinum rule, i.e., treating others they way they wanted to be treated. Maya Hu-Chan is the founder and president of Global Leadership Associates and the co-author of Global Leadership: The Next Generation. She’s trained and coached leaders from Fortune 500 companies to non-profits around the world. Dan Hill, PhD, is the author of nine books and leads Sensory Logic, Inc. (https://www.sensorylogic.com). His new book is Blah, Blah, Blah: A Snarky Guide to Office Politics. To check out his related “Dan Hill’s EQ Spotlight” blog, visit https://emotionswizard.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Maya Hu-Chan, "Saving Face: How to Preserve Dignity and Build Trust" (Berrett-Koehler, 2020)

Actuarial thinking is everywhere in contemporary America, an often unnoticed byproduct of the postwar insurance industry’s political and economic influence. Calculations of risk permeate our institutions, influencing how we understand and manage crime, education, medicine, finance, and other social issues. In Insurance Era: Risk, Governance, and the Privatization of Security in Postwar America (The University of Chicago Press, 2021), Caley Horan charts the social and economic power of private insurers since 1945, arguing that these institutions’ actuarial practices played a crucial and unexplored role in insinuating the social, political, and economic frameworks of neoliberalism into everyday life. Through a careful analysis of insurance marketing, consumption, investment, and regulation, Horan asserts that postwar America’s obsession with safety and security fueled the exponential expansion of the insurance industry and the growing importance of risk management in other fields. Horan shows that the rise and dissemination of neoliberal values did not happen on its own: they were the result of a project to unsocialize risk, shrinking the state’s commitment to providing support, and heaping burdens upon the people often least capable of bearing them. Caley Horan is Associate Professor of History at the Massachusetts Institute of Technology. Ashton Merck is a Postdoctoral Research Scholar in Interdisciplinary Risk Sciences at NC State University. She can be found on Twitter @awmerck. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Caley Horan, "Insurance Era: Risk, Governance, and the Privatization of Security in Postwar America" (U Chicago Press, 2021)

How can ideas from sociology help us understand history and economics? In Trade and Nation: How Companies and Politics Reshaped Economic Thought (Columbia UP, 2021), Emily Erikson, Associate Professor of Sociology at Yale and Academic Director of the Fox International Fellowship, explores the major shift, which occurred during the seventeenth century, in the history and philosophy of economics. The book combines computational methods from sociology with a detailed and close engagement with historical sources and the philosophy of economics. It demonstrates how a key set of merchants proved highly influential in setting the terms of economics, in the context of the specific conditions and institutional settings in England during the period. The book also offers comparative analysis, adding depth to the numerous methods of testing its core hypothesis about what really drove the changes in economics. Clearly written, and deeply engaging, the book is essential reading for scholars in economics and the social sciences, as well as in history and the humanities. Dave O'Brien is Chancellor's Fellow, Cultural and Creative Industries, at the University of Edinburgh's College of Art. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Emily Erikson, "Trade and Nation: How Companies and Politics Reshaped Economic Thought" (Columbia UP, 2021)

Interviews with Economists about their New Books

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New Books in Economics

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