New Books Network

In The Making of Modern Corporate Finance: A History of the Ideas and How They Help Build the Wealth of Nations (Columbia Business School Publishing, 2025) Donald Chew profiles key figures in the development of modern corporate finance while emphasizing their counterintuitive lessons for shareholders, companies, and countries. He deals with such questions as: Why did the stagflation of the 1970s prove so painful and protracted? What explains the U.S. stock market’s forty-year run of 12 percent average annual returns? Why is Japan still mired in a decades-long recession? What accounts for the resilience of U.S. stock markets in the wake of COVID and the Fed’s interest rate hikes? Chew argues that answers to these questions lie ideas formulated and tested by finance scholars―notably, an efficient stock market in which prices reflect the long-run values of public companies and a market for corporate control that exerts pressure on management.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

How the war on drugs created the gold standard treatment for addiction--until America's opioid crisis got privatized for profit, to the detriment of patients.

Despite epidemic levels of overdoses in the United States, by 2020, only twenty percent of Americans suffering from opioid use disorder (OUD) received medication-assisted treatment (MAT), the gold standard of addiction treatment, which uses methadone, buprenorphine, or naltrexone to reduce illicit drug use and curb the symptoms of withdrawal. While MAT is the most effective treatment available for OUD, it's also the most controversial, the most expensive, and the most difficult to access. And yet, the medications at the center of this treatment--and the private industries that distribute them--generate roughly sixteen billion dollars each year, on par with national sales of coffee and pet food.

In Addiction, Inc: Medication-Assisted Treatment and America's Forgotten War on Drugs, historian Emily Dufton explains how this promising avenue of treatment emerged during President Richard Nixon's war on drugs in 1971 as a radical experiment in public health, when hundreds of federally-funded treatment clinics opened nationwide. Dufton then explores how these nationalized clinics gave way to an immensely profitable private industry that offers poor care at high costs to an insufficient number of people. Drawing on original research and over a hundred interviews with policymakers, medical experts, pharmaceutical lobbyists, and patients and their families, she tells a gripping story of squandered potential and missed opportunities, as MAT transformed from a revolutionary political project launched from the White House itself into a commercial success--and a public health disaster.

Urgent, eye-opening, and deeply human, Addiction, Inc. reveals how, over the past fifty years, the United States built an addiction treatment system that made recovery harder instead of easier, and what it will take to change its course.

Despite epidemic levels of overdoses in the United States, by 2020, only twenty percent of Americans suffering from opioid use disorder (OUD) received medication-assisted treatment (MAT), the gold standard of addiction treatment, which uses methadone, buprenorphine, or naltrexone to reduce illicit drug use and curb the symptoms of withdrawal. While MAT is the most effective treatment available for OUD, it's also the most controversial, the most expensive, and the most difficult to access. And yet, the medications at the center of this treatment--and the private industries that distribute them--generate roughly sixteen billion dollars each year, on par with national sales of coffee and pet food.

In Addiction, Inc., historian Emily Dufton explains how this promising avenue of treatment emerged during President Richard Nixon's war on drugs in 1971 as a radical experiment in public health, when hundreds of federally-funded treatment clinics opened nationwide. Dufton then explores how these nationalized clinics gave way to an immensely profitable private industry that offers poor care at high costs to an insufficient number of people. Drawing on original research and over a hundred interviews with policymakers, medical experts, pharmaceutical lobbyists, and patients and their families, she tells a gripping story of squandered potential and missed opportunities, as MAT transformed from a revolutionary political project launched from the White House itself into a commercial success--and a public health disaster.

Urgent, eye-opening, and deeply human, Addiction, Inc. reveals how, over the past fifty years, the United States built an addiction treatment system that made recovery harder instead of easier, and what it will take to change its course.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

All over the world, masses of people watch, follow, document, and obsess over baseball. Everything remarkable about the impact of baseball derives from the game's history and cultural status as events that draw people together in these ways. Understanding baseball as a cultural phenomenon is therefore less a matter of mastering the vocabulary of the game or merely recollecting its iconic stadiums, players, and stats. While all those details compel insiders and inspire fans, baseball's peculiar and persistent appeal can only be understood by adopting a wider lens. It requires reckoning with the history of structured competition. The classic backyard game of catch between a father and son draws meaning from its associations with the organized sport and its history. The challenge lies less in finding one perfect spot to look, but rather in identifying the many different places where baseball has accumulated significance.

Out of the Ballpark: How to Think about Baseball (Oxford University Press, 2026) reconsiders the character, meaning, and delights of the game by exploring both baseball's unusual features and the sport's many resonances with other aspects of modern life. To this end, it abandons several assumptions and mythologies that underlie most approaches to histories of baseball: that it is unique among sports and fundamentally different from other kinds of entertainment; that it is specific to the United States; that it has changed fundamentally in recent years; and that the keys to understanding it lie primarily in examining what happens on the field of play.

Instead, David M. Henkin moves across time and space to examine baseball's history since the nineteenth century and beyond US borders. He takes readers inside the structures of clubs and leagues, interprets the sacred scripture of rulebooks, and illuminates some of baseball's rites and rituals that are often associated with honor and manhood. He charts baseball's significance along the routes of American and Japanese imperial expansion and the shifting maps of race and ethnicity in the US. Baseball is found at negotiating tables that pit capital against labor and in pivotal moments in the history of mass media. Here, we are shown how baseball might offer a complex and capacious space for thinking about such things as spectatorship, success, community, order, and contingency in the modern world.

David M. Henkin is Professor of History at the University of California, Berkeley, where he has taught courses on society and culture in nineteenth-century America for close to three decades.

Caleb Zakarin is CEO and Publisher of the New Books Network.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

From the beginning of the seventeenth century, French colonies and trading posts sprawled across the Atlantic and Indian Oceans. In the first pan-imperial history of the early French Empire in the English language, Mélanie Lamotte shows how an increasingly cohesive legal culture came to govern the lives of enslaved and free people of African, Malagasy, South Asian, and Native American descent. She also illuminates the important role played by these populations in the development of the empire, from Louisiana to Guadeloupe, Senegambia, Madagascar, Isle Bourbon, and India.

The early French Empire has often been portrayed as a fragmented conglomerate of isolated colonies or regions. Yet Lamotte shows that racial policies issued by the metropole, as well as by officials in the Atlantic and Indian Oceans, significantly influenced one another. Rather than focusing on the actions of administrators, however, Lamotte also reveals the extensive influence of people on the ground—especially those of non-European descent. Through their sexuality and their labor, along with their socio-economic and political endeavors, they played a critical role in building the empire and setting its limits. As they sought justice for themselves, strove to protect their kin, and aimed to improve their social conditions, these individuals also pushed against the advancement of white dominion in unexpected ways.

Archivally rich and rigorously documented, By Flesh and Toil: How Sex, Race, and Labor Shaped the Early French Empire (Harvard UP, 2026) illuminates the transoceanic connections that united the French colonial world—and recasts people of African, Malagasy, South Asian, and Native American descent as key actors in the story of empire-building.

This interview is conducted by Dr Lewis Wade, a Humboldt Research Fellow at the University of Bamberg. He is the author of the prize-winning Privilege, Economy and State in Old Regime France and can be found on Bluesky @wadehistory.bsky.social.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

What happens if we turn to James Baldwin, not just for the amazing quotations and excellent photos, but as a critical theorist? What if we read his nonfiction philosophically? What can Baldwin help us understand and do now? In So Unimaginable a Price: Baldwin and the Black Atlantic (Northwestern UP, 2025), John Drabinski takes up this project to give a sustained philosophical reading of Baldwin’s nonfiction. Drabinski does so to understand the event of Baldwin’s contributions in the context of the Black Atlantic. Baldwin was a thinker who looked to the United States, even when in exile. But he was also in the broader context of the mid-twentieth century Black Atlantic, of which he was surely aware but wrote little—what if we read for what was absent from Baldwin’s texts?
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network