An Economy Of Strangers

This is a wonderful book, very well written and accessible to a wide audience.

The Company of Strangers shows us the remarkable strangeness, and fragility, of our everyday lives. This completely revised and updated edition includes a new chapter analyzing how the rise and fall of social trust explain the unsustainable boom in the global economy over the past decade and the financial crisis that succeeded it. Drawing on insights from biology, anthropology, history, psychology, and literature, Paul Seabright explores how our evolved ability of abstract reasoning has allowed institutions like money, markets, cities, and the banking system to provide the foundations of social trust that we need in our everyday lives. Even the simple acts of buying food and clothing depend on an astonishing web of interaction that spans the globe. How did humans develop the ability to trust total strangers with providing our most basic needs?

One of the most persistent, powerful, and dangerous notions in the history of the Jews in the diaspora is the prodigious talent attributed to them in all things economic. From the medieval Jewish usurer through the early-modern port-Jew and court-Jew to the grand financier of the nineteenth and twentieth centuries and contemporary investors, Jews loom large in the economic imagination. For capitalists and Marxists, libertarians and radical reformers, Jews are intertwined with the economy. This association has become so natural that we often overlook the history behind the making and remaking of the complex cluster of perceptions about Jews and economy, which emerged within different historical contexts to meet a variety of personal and societal anxieties and needs. In An Economy of Strangers, Avinoam Yuval-Naeh historicizes this association by focusing on one specific time and place—the financial revolution that England underwent from the late seventeenth century that coincided with the reestablishment of the Jewish population there for the first time in almost four hundred years. European Christian societies had to that point shunned finance and constructed a normative system to avoid it, relying on the figure of the Jew as a foil. But as the economy modernized in the seventeenth century, finance became the hinge of national power. Finance’s rise in England provoked intense national debates. Could financial economy, based on lending money on interest, be accommodated within Christian state and society when it had previously been understood as a Jewish practice? By projecting the modern economy and the Jewish community onto each other, the Christian majority imbued them with interrelated meanings. This braiding together of parallel developments, Yuval-Naeh argues, reveals in a meaningful way how the contemporary and wide-ranging association of Jews with the modern economy could be created.

Borjas (economics, U. of California, Santa Barbara) provides a pinched, crabby, misanthropic and xenophobic account of immigration that will likely please political conservatives, social troglodytes, and greedy entrepreneurs. Basically, he bemoans the low quality of recent immigrant labor, and, implicitly at least, the low quality of the immigrants themselves. Where did his family come from? Annotation copyrighted by Book News, Inc., Portland, OR

A “meticulously researched and buoyantly written” (Esquire) look at what happens when we talk to strangers, and why it affects everything from our own health and well-being to the rise and fall of nations in the tradition of Susan Cain’s Quiet and Yuval Noah Harari’s Sapiens “This lively, searching work makes the case that welcoming ‘others’ isn’t just the bedrock of civilization, it’s the surest path to the best of what life has to offer.”—Ayad Akhtar, Pulitzer Prize–winning author of Homeland Elegies In our cities, we stand in silence at the pharmacy and in check-out lines at the grocery store, distracted by our phones, barely acknowledging one another, even as rates of loneliness skyrocket. Online, we retreat into ideological silos reinforced by algorithms designed to serve us only familiar ideas and like-minded users. In our politics, we are increasingly consumed by a fear of people we’ve never met. But what if strangers—so often blamed for our most pressing political, social, and personal problems—are actually the solution? In The Power of Strangers, Joe Keohane sets out on a journey to discover what happens when we bridge the distance between us and people we don’t know. He learns that while we’re wired to sometimes fear, distrust, and even hate strangers, people and societies that have learned to connect with strangers benefit immensely. Digging into a growing body of cutting-edge research on the surprising social and psychological benefits that come from talking to strangers, Keohane finds that even passing interactions can enhance empathy, happiness, and cognitive development, ease loneliness and isolation, and root us in the world, deepening our sense of belonging. And all the while, Keohane gathers practical tips from experts on how to talk to strangers, and tries them out himself in the wild, to awkward, entertaining, and frequently poignant effect. Warm, witty, erudite, and profound, equal parts sweeping history and self-help journey, this deeply researched book will inspire readers to see everything—from major geopolitical shifts to trips to the corner store—in an entirely new light, showing them that talking to strangers isn’t just a way to live; it’s a way to survive.

With rapid commercialization, a booming urban economy, and the relaxation of state migration policies, over 100 million peasants, known as China’s “floating population,” have streamed into large cities seeking employment and a better life. This massive flow of rural migrants directly challenges Chinese socialist modes of state control. This book traces the profound transformations of space, power relations, and social networks within a mobile population that has broken through the constraints of the government’s household registration system. The author explores this important social change through a detailed ethnographic account of the construction, destruction, and eventual reconstruction of the largest migrant community in Beijing. She focuses on the informal privatization of space and power in this community through analyzing the ways migrant leaders build their power base by controlling housing and market spaces and mobilizing social networks. The author argues that to gain a deeper understanding of recent Chinese social and political transformations, one must examine not only to what extent state power still dominates everyday social life, but also how the aims and methods of late socialist governance change under new social and economic conditions. In revealing the complexities and uncertainties of the shifting power and social relations in post-Mao China, this book challenges the common notion that sees recent changes as an inevitable move toward liberal capitalism and democracy.

An up-to-date and comparative look at immigration in Europe, the United States, and Canada Strangers No More is the first book to compare immigrant integration across key Western countries. Focusing on low-status newcomers and their children, it examines how they are making their way in four critical European countries—France, Germany, Great Britain, and the Netherlands—and, across the Atlantic, in the United States and Canada. This systematic, data-rich comparison reveals their progress and the barriers they face in an array of institutions—from labor markets and neighborhoods to educational and political systems—and considers the controversial questions of religion, race, identity, and intermarriage. Richard Alba and Nancy Foner shed new light on questions at the heart of concerns about immigration. They analyze why immigrant religion is a more significant divide in Western Europe than in the United States, where race is a more severe obstacle. They look at why, despite fears in Europe about the rise of immigrant ghettoes, residential segregation is much less of a problem for immigrant minorities there than in the United States. They explore why everywhere, growing economic inequality and the proliferation of precarious, low-wage jobs pose dilemmas for the second generation. They also evaluate perspectives often proposed to explain the success of immigrant integration in certain countries, including nationally specific models, the political economy, and the histories of Canada and the United States as settler societies. Strangers No More delves into issues of pivotal importance for the present and future of Western societies, where immigrants and their children form ever-larger shares of the population.

This book offers unique insights into how Adam Smith understood globalization, and examines how he incorporated his knowledge of the world and globalization into his classical political economy. Although Smith lived in society that was far from globalized, he experienced the beginning of globalization. Smith considered the most developed society the commercial society: the society that results from people meeting with strangers. Among Enlightenment thinkers, Smith was one of the most important figures with respect to interaction in the world, and it is through his lens that the authors view the impact of the mixing of diverse peoples. Firstly, the book describes how Smith was influenced by information from around the world. Leaving eighteenth-century Europe, including Smith’s native Scotland, people travelled, traded, and immigrated to far-flung parts of the globe, sometimes writing books and pamphlets about their travels. Informed by these writers, Smith took into consideration the world beyond Europe and strangers with non-European backgrounds. Against that background, the book reinterprets Smith’s moral philosophy. In The Theory of Moral Sentiments, Smith developed his moral philosophy, in which he examined how people form opinions through their meetings with strangers. He researched how encounters with strangers created the sharing of social rules. As such, the book studies how Smith believed that people in dissimilar communities come to share common concepts of morality and justice. Lastly, it provides an innovative reading of Smith’s political economy. In The Wealth of Nations, Smith established the market model of economic society. However, he saw the limitations of that model since it does not consider the impact of money on economy and international trade. He also recognized the limitations of his own equilibrium theory of market, the theory that is still influential today.