Ben Bernanke: “Like being a paleontologist”

More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed’s philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The third episode of the second series covers Janet Yellen – not only the first woman to become Fed Chair but the first person of either sex to lead the Fed, the Treasury, and the Council of Economic Advisors. To discuss Ben Bernanke’s successor, Tim is joined by Jon Hilsenrath, author of Yellen: The Trailblazing Economist Who Navigated an Era of Upheaval (Harper Collins, 2022). “Bernanke was a consensus builder,” says Hilsenrath. “He wasn't the kind of guy who was going to push people on a personal level out of their comfort zones … Yellen was a bit of a bulldog there, but she was also a bulldog with the Fed staff. I mean, she had a view that the world was on fire and that they, you know, and that they had to be moving like people putting out a fire”. In 2023, Hilsenrath left the Wall Street Journal after a 26-year career during which he developed a market reputation as a pre-eminent Fed-watcher. He’s still watching the Fed but now for his own advisory firm. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed’s philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. Episode two of the second series covers the life and crisis-era times of Ben Bernanke, the man who filled Alan Greenspan’s big shoes and ran the Fed from 2006 to 2014. A shy but world-renowned monetary economist and historian of the Great Depression, Bernanke was left holding the proverbial bomb when the financial system came close to collapse in 2008. To discuss Bernanke, Tim is joined by David Wessel, author of In FED We Trust: Ben Bernanke's War on the Great Panic (Crown, 2010). “It wasn't obvious when he was appointed to the Fed in 2006 that having somebody who had spent their life studying the Great Depression would be well equipped to be Alan Greenspan's successor,” says Wessel. “I have sometimes said it was a like being a paleontologist. It's very nice that you know a lot about dinosaurs, but what use is that to us today until one day a Stegosaurus appears on the horizon. And it was remarkable good fortune for the country and the world that there was a guy who happened to have studied all the mistakes that the Fed made in the 1920s and the 1930s in a position to do something about it when a situation, not all that dissimilar, appears both to his surprise and to almost everybody else's”. Wessel is two-time Pulitzer Prize winning journalist who now runs the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution. For 30 years, he worked at the Wall Street Journal - reporting mostly from Washington and covering economics and the Fed. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

Territorial expansion is typically understood as a centrally driven and often strategic activity. But Nicholas D. Anderson’s new book, Inadvertent Expansion (Cornell University Press, 2025), shows that nearly a quarter of great power coercive territorial acquisitions since the nineteenth century have in fact been instances of what the author calls “inadvertent expansion.” A two-step process, inadvertent expansion first involves agents on the periphery of a state or empire acquiring territory without the authorization or knowledge of higher-ups. Leaders in the capital must then decide whether to accept or reject the already-acquired territory. Through cases ranging from those of the United States in Florida and Texas to Japan in Manchuria and Germany in East Africa, Anderson shows that inadvertent expansion is rooted in a principal-agent problem. When leaders in the capital fail to exert or have limited control over their agents on the periphery, unauthorized efforts to take territory are more likely to occur. Yet it is only when the geopolitical risks associated with keeping the acquired territory are perceived to be low that leaders are more likely to accept such expansion. Accentuating the influence of small, seemingly insignificant actors over the foreign policy behavior of powerful states, Inadvertent Expansion offers new insights into how the boundaries of states and empires came to be and captures timeless dynamics between state leaders and their peripheral agents. Our guest is Nicholas D. Anderson, an Assistant Professor of Political Science and International Affairs at The George Washington University. Our host is Eleonora Mattiacci, an Associate Professor of Political Science at Amherst College. She is the author of "Volatile States in International Politics" (Oxford University Press, 2023). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed’s philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The first episode of the second series explores Alan Greenspan, the chairman who followed Paul Volcker and ran the Fed from 1987 until 2006. Once bestowed with “Maestro” status, Greenspan – who turns 100 in March 2026 – has seen his reputation deflate in the wake of the post-2008 financial crisis. To discuss the fallen Maestro, Tim is joined by Sebastian Mallaby, author of The Man Who Knew: The Life and Times of Alan Greenspan (Bloomsbury, 2016). “Greenspan was the man who knew,” says Mallaby. “He was the man who knew that bubbles were extremely destructive, and yet he was not the man who acted against those bubbles. So, whilst he was great on inflation and on stabilising the price of eggs, he was not good on asset-price inflation or stabilising the price of nest eggs”. A former journalist at The Economist and the Washington Post, Mallaby is the prize-winning author of The World's Banker – a portrait of the World Bank under James Wolfensohn – and More Money Than God: Hedge Funds and the Making of a New Elite. He is now the Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

Why are young men leaning right while young women shift left? Hosts Nina dos Santos and Owen Bennett-Jones speak with NYU’s Scott Galloway, political analyst Sophie Stowers, and commentator Oliver Dean to explore the forces behind this growing divide. Whether it’s a broken social contract where young people no longer believe they will lead better, more prosperous lives than their parents or the work of algorithms that feed off rage and division, the implications are profound. This podcast was recorded live at NYU London, in front of an audience of students who are part of a generation searching for increasingly radical solutions to fix society. Guests Scott Galloway is a Professor of Marketing at NYU Stern School of Business where he teaches Brand Strategy and Digital Marketing to second-year MBA students. He is also a Bestselling author, professor and entrepreneur. Sophie Stowers - A Research Associate at UK in a Changing Europe. Her background is in British and European politics, and her research focuses on UK-EU relations, British politics and parties, and public opinion. She previously worked as a Parliamentary Assistant. Oliver Dean a political commentator with Young Voices UK. He studies History and Politics at the London School of Economics and Political Science where he is the Treasurer of the LSE Hayek Society. Producer: Pearse Lynch Executive Producer: Lucinda Knight Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

In this episode of International Horizons, RBI director John Torpey speaks with Stephen Hanson and Jeffrey Kopstein, co-authors of The Assault on the State: How the Global Attack on Modern Government Endangers Our Future (Polity Press, 2024). In this conversation, they discuss how today’s right-wing movements, from the United States to Hungary, are waging a new form of politics that undermines the very foundations of the modern, rules-based state. Drawing on Max Weber’s concept of “patrimonialism,” Hanson and Kopstein explore how these leaders erode public trust, demolish impersonal bureaucracies, and replace rational governance with personal loyalty and whim. Along the way, they examine the role of conspiracy theories, the rise of “deep state” narratives, and the uneasy alliances connecting libertarians, Christian nationalists, and advocates of an all-powerful executive. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

In today's post-Roe v. Wade world, U.S. maternal mortality is on the rise and laws regarding contraception, involuntary sterilization, access to reproductive health services, and criminalization of people who are gestating are changing by the minute. Today I’m joined by Dr. Caitlin Killian, the editor of and one of the contributors to a new book from Bloomsbury Academic, Understanding Reproduction in Social Contexts: A Reader. I’m also pleased to host two of the chapter authors, Drs. Nancy Hiemstra and Jaya Keaney. Using a reproductive justice framework, Understanding Reproduction in Social Contexts walks students through the social landscape around reproduction through the life course. Chapters by cutting-edge reproductive scholars, practitioners, and advocates address the social control of fertility and pregnancy, the promises and perils of assisted reproductive technologies, experiences of pregnancy, miscarriage, abortion, and birth, and how individuals make sense of and respond to the cultural, social, and political forces that condition their reproductive lives. The book takes an intersectional approach and considers how gender, sexuality, fatness, disability, class, race, and immigration status impact both an individual's health and the healthcare they receive. The reader includes timely topics such as increased legal limitations on abortion, transpeople and reproduction, and new developments in assisted reproduction and family formation. The book can support undergraduate and graduate courses on families, gender, public health, reproduction, and sexuality – and I’m pleased to have contributed a chapter. Dr. Caitlin Killian is a Professor of Sociology at Drew University specializing in gender, families, reproduction, and immigration. We featured her book, Failing Moms: Social Condemnation and Criminalization of Mothers (Polity 2023) previously on New Books Network. Her articles have appeared in Contexts magazine and The Conversation, as well as numerous academic journals, and she has done work for the United Nations on sexual and reproductive health and rights and on Syrian refugee women Dr. Nancy Hiemstra is a political, cultural, and feminist geographer and Associate Professor in the Department of Women's, Gender, and Sexuality Studies at Stony Brook University. Her scholarship focuses on how border and immigration policies shape patterns and consequences of human mobility. Her 2019 book Detain and Deport: The Chaotic U.S. Immigration Enforcement Regime examined the U.S. detention and deportation system, and her forthcoming book (with Deirdre Conlon) Immigration Detention Inc: The Big Business of Locking Up Migrants scrutinizes how profit making goals drive the expanding use of detention. Dr Jaya Keaney is Lecturer in Gender Studies in the School of Social and Political Sciences at the University of Melbourne. She writes, researches, and teaches in the fields of feminist technoscience, queer and feminist theory, and cultural studies. Her research across these fields explores reproduction, racism, and queer feminist practices of embodiment and inheritance. Jaya is the author of Making Gaybies: Queer Reproduction and Multiracial Feeling (Duke University Press, 2023), which was a finalist for the 2024 Rachel Carson Prize. Her writing has also appeared in journals such as Body and Society, Science Technology & Human Values, and the Duke University Press edited collection Long Term: Essays on Queer Commitment (2021). Mentioned: Susan’s interview with Caitlin on Failing Moms: The Social Condemnation and Criminalization of Mothers (Polity, 2024). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

The recent coronavirus pandemic proved that the time-old notion seems now truer than ever: that science and politics represent a clash of cultures. But why should scientists simply “stick to the facts” and leave politics to the politicians when the world seems to be falling down around us? Drawing on his experience as both a research scientist and an expert advisor at the centre of government, Ian Boyd takes an empirical approach to examining the current state of the relationship between science and politics. He argues that the way politicians and scientists work together today results in a science that is on tap for ideological (mis)use, and governance that fails to serve humanity’s most fundamental needs. Justice is unlikely―perhaps impossible―while science is not a fully integrated part of the systems for collective decision-making across society. In Science and Politics (Polity, 2024), Boyd presents an impassioned argument for a series of conceptual and structural innovations that could resolve this fundamental tension, revealing how a radical intermingling of these (apparently contradictory) professions might provide the world with better politics and better science. Professor Sir Ian Boyd is currently a professor at the University of St Andrews and Chair of the UK Research Integrity Office. He was Chief Scientific Adviser to the UK Government on Food and the Environment (2012-2019). He is a marine and polar scientist and previously served as the first Director of the Scottish Oceans Institute at St Andrews Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

Liberalism is in trouble. As a set of ideas, it has lost much of its historical authority in guiding public policy and personal behaviour. In this post-liberal climate, Russell Blackford asks whether liberalism is truly over. How We Became Post-Liberal: The Rise and Fall of Toleration (Bloomsbury, 2023) examines how Western liberal democracies became nations where traditional liberal principles of toleration (religious and otherwise), individual liberty and freedom of speech are frequently dismissed as outdated or twisted to support conservative policies. Blackford traces the lineage of liberalism from problems of toleration that emerged when Christianity triumphed in the late centuries of classical antiquity, with comparison to non-Western civilizations. The political and philosophical story culminates in the recent development – over the past 30 to 50 years – of post-liberal ideologies in the West. At each stage, Blackford discusses arguments for and against liberal principles, identifying why no argument to date has been totally successful in convincing opponents, while maintaining that liberalism's ideas and language are still worth saving. From campus wars over academic freedom to the Charlie Hebdo attack and the murder of Samuel Paty, this is an indispensable guide for anyone wanting to understand the why, what and how of the post-liberal world. Russell Blackford is a philosopher, legal scholar, literary critic based at the University of Newcastle, New South Wales, Australia. He is the author of Freedom of Religion and the Secular State (2012), Humanity Enhanced (2014), The Mystery of Moral Authority (2016), and Science Fiction and the Moral Imagination (2017). In 2014, he was inducted as a Laureate of the International Academy of Humanism. Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter. Let's face it, most of the popular podcasts out there are dumb. NBN features scholars (like you!), providing an enriching alternative to students. We partner with presses like Oxford, Princeton, and Cambridge to make academic research accessible to all. Please consider sharing the New Books Network with your students. Download this poster here to spread the word. Please share this interview on Instagram, LinkedIn, or Bluesky. Don't forget to subscribe to our Substack here to receive our weekly newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

Figures of Freedom: Representations of Agency in a Time of Crisis takes on the idea and terminology of freedom, examining our understanding of this concept and our relationship to the word itself as well as what it means to society, culture, and politics. Randy Laist and Brian A. Dixon, two scholars who often explore popular culture to better understand the society and politics all around us, have brought their admirable skills to Figures of Freedom, where they have assembled a broad array of contributors exploring freedom in a host of different venues and artifacts. The thrust of the book is to examine representations of freedom in the early 21st century, and the authors look at this evolving nature of freedom in popular culture 21st century texts, where they trace this shifting discourse across time and geography. Broad questions are at the heart of Figures of Freedom: who gets to be free? What is freedom? How does freedom work or play out in different situations and settings? Is freedom itself an archaic idea in the face of rising dictatorships and authoritarian governments, where voices of freedom are being silenced? Freedom is often a concept and term that one understands from an individualistic perspective—my freedom is constrained by governmental actions or limited by societal norms or protected by the Bill of Rights. Liberty, which is often connected to freedom, especially in American discourse, is considered by these authors as more communal, and as part of a delicate balance within the U.S. constitutional system, but the advocacy for individual freedom has eclipsed liberty in the 21st century. Laist and Dixon frame their book by examining some of the facets of freedom, which may be ugly (Elizabeth Anker’s conception in her 2022 book), or masculinized (Linda Zerilli’s idea in her 2005 book), or colonial (Mimi Thi Nguyen thoughts in her 2012 book), or otherwise characterized by some quality constraining some dimensions of freedom. The contributing authors take up many of these concepts and use them to explore these ideas within a variety of narrative popular culture artifacts from the first part of the 21st century. These include, but are not limited to, Matthew Weiner’s television series Mad Men, Don DeLillo’s Zero K, Jonathan Franzen’s Freedom, Ta-Nehisi Coate’s Between the World and Me, Colson Whitehead’s Underground Railroad, Pixar’s Toy Story films, Sam Esmail’s television series Mr. Robot, and many more. Figures of Freedom: Representations of Agency in a Time on Crisis wrestles with what it means to be free and how we, as citizens, consume this idea through many of our cultural artifacts. At times, we may feel free but are, in fact, limited by unseen or unknown political, cultural, or societal constraints. Laist and Dixon compel us to consider our own understanding of freedom, particular in context of the idea of liberty, and how these ideas are shaped and shifted by the world around us, especially in the ways we see freedom represented within film and literary narratives. Lilly J. Goren is a professor of political science at Carroll University in Waukesha, WI. She is co-editor of The Politics of the Marvel Cinematic Universe (University Press of Kansas, 2022), as well as co-editor of the award winning book, Women and the White House: Gender, Popular Culture, and Presidential Politics (University Press of Kentucky, 2012). Email her at [email protected] or find her at Bluesky: @gorenlj.bsky.social Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science