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We develop the concept of the slave-trade balance of payments and generate its table for the United States for 1790–1860. In the process, we construct new data for the slave trade, including both the physical movement and revenue figures, and we analyze these numbers. The balance of payments includes slave imports, carrying trade in slaves, purchases of slaves that fail to be imported, outfitting and provisioning slave ships, and slave-ship sales. The slave-trade balance is integrated into the standard balance of payments. Among the findings are the following: slave imports were dominated by natural growth except for one decade; US ships had the greater role than foreign ships in the import trade, but were of small—and eventually nil—consequence in the carrying trade; federal and state laws to prohibit the slave trade in all its aspects were generally effective; and the slave-trade balance of payments was a small component of the overall balance.

The Baumol effect follows from simple but deep microeconomic reasoning. All prices are relative prices, so if some goods are getting cheaper, others must be getting more expensive. Simple. But in transferring our attention about the cause of rising prices from stagnating sectors to progressive sectors, the Baumol effect radically changes our understanding of the causes, consequences, and evaluation of rising prices. Even today, the power of the Baumol effect to explain price changes through different time periods and places is underestimated. Throughout his career, Baumol returned to this simple idea many times, making it a key to his thought and his evolving views on long-term economic development.

There are racial differences in policing and treatment when people are stopped for the same crimes, and scholars have long documented and expressed concern regarding the police’s reactions to Black men. In this paper, we argue that racism is the root cause of police-involved killings of unarmed Black men. Utilizing several contemporary examples, we articulate the ways racism operates through cultural forces and institutional mechanisms to illustrate how this phenomenon lies at the intersection of public safety and public health. Thus, we begin by defining racism and describing how it is gendered to move the notion that the victims of police involved shootings overwhelmingly tend to be Black men from the margins of the explanation of the patterns to the center. Next, we discuss how the police have been used to promote public safety and public health throughout US history. We conclude by describing common explanations for contemporary police-involved shootings of unarmed Black males and why those arguments are flawed. Reframing the phenomena as gendered racism is critical for identifying points of intervention. Because neither intent nor purpose is a prerequisite of the ways that racism affects public safety and public health, the differential impact of policies and programs along racial lines is sufficient for racism to be a useful way to frame this pattern of outcomes. Incorporating gender into this framing of racism introduces that ways that Black men have been viewed, stereotyped, and treated implicitly in institutional practices and explicitly in institutional policies.

In this chapter, the authors adopt a macrofoundations perspective to explore punishment within institutional theory. Institutional theorists have long focused on a single type of punishment – retribution – including the use of sanctions, fines, and incarceration to maintain conformity. The authors expand the types of punishment that work to uphold institutions, organized by visible and hidden, and formal and informal characteristics. The four types of punishment include (1) punishment-as-retribution; (2) punishment-as-charivari; (3) punishment-as-rehabilitation; and (4) punishment-as-vigilantism. The authors develop important connections between punishment-as-charivari, which relies on shaming efforts, and burgeoning interest in organizational stigma and social evaluations. The authors also point to informal types of punishment, including punishment-as-vigilantism, to expand the variety of actors that punish wrongdoing, including actors without the legal authority to do so. Finally, the authors detail a number of questions for each type of punishment as a means to generate a future research agenda.