New Books In Economics

Chains of Command: The Rise and Cruel Reign of the Franchise Economy (University of Chicago Press, 2026) is a surprising look at the big business of owning small businesses and what America's franchise economy means for its workers. Walk into a McDonald's anywhere in the United States, and it will be identical to every other McDonald's in the country. Yet, that particular store is almost certainly owned and operated by an "independent" franchisee. While McDonald's presents an image of centralized uniformity to the consumer, it shows a different face to the small business owners operating its stores under its control and the workers preparing its product to its standards. How then does McDonald's—and its big business peers—manage to be two things at once? In this revelatory work, economist Brian Callaci shows how franchisors have altered the legal treatment of corporations in their favor through a decades-long crusade of lobbying and litigation. Their efforts subsequently unleashed a slew of legal