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Author : Jessica M. Lepler
Publisher : Cambridge University Press
Page : 357 pages
File Size : 54,9 Mb
Release : 2013-09-23
Category : Business & Economics
ISBN : 9780521116534
Reveals how people transformed their experiences of financial crisis into a single event that would serve as a turning point in American history.
Author : Alasdair Roberts
Publisher : Cornell University Press
Page : 265 pages
File Size : 41,8 Mb
Release : 2012-04-15
Category : History
ISBN : 9780801464676
For a while, it seemed impossible to lose money on real estate. But then the bubble burst. The financial sector was paralyzed and the economy contracted. State and federal governments struggled to pay their domestic and foreign creditors. Washington was incapable of decisive action. The country seethed with political and social unrest. In America's First Great Depression, Alasdair Roberts describes how the United States dealt with the economic and political crisis that followed the Panic of 1837. As Roberts shows, the two decades that preceded the Panic had marked a democratic surge in the United States. However, the nation’s commitment to democracy was tested severely during this crisis. Foreign lenders questioned whether American politicians could make the unpopular decisions needed on spending and taxing. State and local officials struggled to put down riots and rebellion. A few wondered whether this was the end of America’s democratic experiment. Roberts explains how the country’s woes were complicated by its dependence on foreign trade and investment, particularly with Britain. Aware of the contemporary relevance of this story, Roberts examines how the country responded to the political and cultural aftershocks of 1837, transforming its political institutions to strike a new balance between liberty and social order, and uneasily coming to terms with its place in the global economy.
Author : John Lauritz Larson
Publisher : Cambridge University Press
Page : 225 pages
File Size : 48,5 Mb
Release : 2009-09-14
Category : History
ISBN : 9781139483421
The mass industrial democracy that is the modern United States bears little resemblance to the simple agrarian republic that gave it birth. The market revolution is the reason for this dramatic - and ironic - metamorphosis. The resulting tangled frameworks of democracy and capitalism still dominate the world as it responds to the panic of 2008. Early Americans experienced what we now call 'modernization'. The exhilaration - and pain - they endured have been repeated in nearly every part of the globe. Born of freedom and ambition, the market revolution in America fed on democracy and individualism even while it generated inequality, dependency, and unimagined wealth and power. In this book, John Lauritz Larson explores the lure of market capitalism and the beginnings of industrialization in the United States. His research combines an appreciation for enterprise and innovation with recognition of negative and unanticipated consequences of the transition to capitalism and relates economic change directly to American freedom and self-determination, links that remain entirely relevant today.
Author : Clément Juglar
Publisher : Unknown
Page : 170 pages
File Size : 53,6 Mb
Release : 1893
Category : Business cycles
ISBN : HARVARD:HNT153
Author : Sharon Ann Murphy
Publisher : JHU Press
Page : 207 pages
File Size : 50,6 Mb
Release : 2017-03-15
Category : History
ISBN : 9781421421766
How the contentious world of nineteenth-century banking shaped the United States. Pieces of paper that claimed to be good for two dollars upon redemption at a distant bank. Foreign coins that fluctuated in value from town to town. Stock certificates issued by turnpike or canal companies—worth something . . . or perhaps nothing. IOUs from farmers or tradesmen, passed around by people who could not know the person who first issued them. Money and banking in antebellum America offered a glaring example of free-market capitalism run amok—unregulated, exuberant, and heading pell-mell toward the next “panic” of burst bubbles and hard times. In Other People’s Money, Sharon Ann Murphy explains how banking and money worked before the federal government, spurred by the chaos of the Civil War, created the national system of US paper currency. Murphy traces the evolution of banking in America from the founding of the nation, when politicians debated the constitutionality of chartering a national bank, to Andrew Jackson’s role in the Bank War of the early 1830s, to the problems of financing a large-scale war. She reveals how, ultimately, the monetary and banking structures that emerged from the Civil War also provided the basis for our modern financial system, from its formation under the Federal Reserve in 1913 to the present. Touching on the significant role that numerous historical figures played in shaping American banking—including Alexander Hamilton, James Madison, Benjamin Franklin, Henry Clay, Daniel Webster, and Louis Brandeis—Other People’s Money is an engaging guide to the heated political fights that surrounded banking in early America as well as to the economic causes and consequences of the financial system that emerged from the turmoil. By helping readers understand the financial history of this period and the way banking shaped the society in which ordinary Americans lived and worked, this book broadens and deepens our knowledge of the Early American Republic.
Author : Scott Reynolds Nelson
Publisher : Vintage
Page : 370 pages
File Size : 55,8 Mb
Release : 2013-06-04
Category : History
ISBN : 9780307474322
Pundits will argue that the 2008 financial crisis was the first crash in American history driven by consumer debt. But in this spirited, highly engaging account, Scott Reynolds Nelson demonstrates that consumer debt has underpinned almost every major financial panic in the nation’s history. From William Duer’s attempts to profit off the country’s post-Revolutionary War debt to an 1815 plan to sell English coats to Americans on credit, to the debt-fueled railroad expansion that precipitated the 1857 crash: in each case, the chain of banks, brokers, moneylenders, and insurance companies that separated borrowers and lenders made it impossible to distinguish good loans from bad. Bound up in this history are stories of national banks funded by smugglers, fistfights in Congress over the gold standard, America’s early dependence on British bankers, and how presidential campaigns were forged in controversies over private debt. An irreverent, wholly accessible, eye-opening book.
Author : Andrew H. Browning
Publisher : University of Missouri Press
Page : 451 pages
File Size : 55,8 Mb
Release : 2019-04-01
Category : History
ISBN : 9780826274250
The Panic of 1819 tells the story of the first nationwide economic collapse to strike the United States. Much more than a banking crisis or real estate bubble, the Panic was the culmination of an economic wave that rolled through the United States, forming before the War of 1812, cresting with the land and cotton boom of 1818, and crashing just as the nation confronted the crisis over slavery in Missouri. The Panic introduced Americans to the new phenomenon of boom and bust, changed the country's attitudes towards wealth and poverty, spurred the political movement that became Jacksonian Democracy, and helped create the sectional divide that would lead to the Civil War. Although it stands as one of the turning points of American history, few Americans today have heard of the Panic of 1819, with the result that we continue to ignore its lessons—and repeat its mistakes.
Author : Charles W. Calomiris,Stephen H. Haber
Publisher : Princeton University Press
Page : 584 pages
File Size : 51,6 Mb
Release : 2015-08-04
Category : Business & Economics
ISBN : 9780691168357
Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.
Author : Elmus Wicker
Publisher : Cambridge University Press
Page : 180 pages
File Size : 47,5 Mb
Release : 2006-03-30
Category : Business & Economics
ISBN : 0521025478
This is the first major study of post-Civil War banking panics in almost a century. The author has constructed for the first time estimates of bank closures and their incidence in each of the five separate banking disturbances. The author also reevaluates the role of the New York Clearing House in forestalling several panics and explains why it failed to do so in 1893 and 1907, concluding that structural defects of the National Banking Act were not the primary cause of the panics.
Author : Philip F. Gura
Publisher : Harvard University Press
Page : 328 pages
File Size : 49,8 Mb
Release : 2017-04-10
Category : History
ISBN : 9780674978140
Banks failed, inequality grew, people were out of work, and slavery threatened to rend the nation in two. The Panic of 1837 drew forth reformers who, animated by self-reliance, became prophets of a new moral order that would make America great again. Philip Gura captures a Romantic moment that was soon overtaken by civil war and postwar pragmatism.
Author : M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara
Publisher : World Bank Publications
Page : 403 pages
File Size : 53,8 Mb
Release : 2021-03-03
Category : Business & Economics
ISBN : 9781464815454
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author : Michael Zakim,Gary J. Kornblith
Publisher : University of Chicago Press
Page : 368 pages
File Size : 54,6 Mb
Release : 2012-02
Category : Business & Economics
ISBN : 9780226451091
Most scholarship on nineteenth-century America’s transformation into a market society has focused on consumption, romanticized visions of workers, and analysis of firms and factories. Building on but moving past these studies, Capitalism Takes Command presents a history of family farming, general incorporation laws, mortgage payments, inheritance practices, office systems, and risk management—an inventory of the means by which capitalism became America’s new revolutionary tradition. This multidisciplinary collection of essays argues not only that capitalism reached far beyond the purview of the economy, but also that the revolution was not confined to the destruction of an agrarian past. As business ceaselessly revised its own practices, a new demographic of private bankers, insurance brokers, investors in securities, and start-up manufacturers, among many others, assumed center stage, displacing older elites and forms of property. Explaining how capital became an “ism” and how business became a political philosophy, Capitalism Takes Command brings the economy back into American social and cultural history.
Author : Carmen M. Reinhart,Kenneth S. Rogoff
Publisher : Princeton University Press
Page : 513 pages
File Size : 41,5 Mb
Release : 2011-08-07
Category : Business & Economics
ISBN : 9780691152646
An empirical investigation of financial crises during the last 800 years.
Author : Nancy A. Hewitt
Publisher : John Wiley & Sons
Page : 512 pages
File Size : 46,9 Mb
Release : 2008-04-15
Category : History
ISBN : 9780470998588
This collection of twenty-four original essays by leading scholars in American women's history highlights the most recent important scholarship on the key debates and future directions of this popular and contemporary field. Covers the breadth of American Women's history, including the colonial family, marriage, health, sexuality, education, immigration, work, consumer culture, and feminism. Surveys and evaluates the best scholarship on every important era and topic. Includes expanded bibliography of titles to guide further research.
Author : Emily Pawley
Publisher : University of Chicago Press
Page : 310 pages
File Size : 41,7 Mb
Release : 2022-06-07
Category : Business & Economics
ISBN : 9780226820026
"In the seemingly mundane Northern farm of early America and the people who sought to improve its productivity and efficiency, Emily Pawley finds a world rich with innovative practices and marked by a developing interrelationship between scientific knowledge, industrial methods, and capitalism. Agricultural "improvers" became increasingly scientistic, driving tremendous increases in the range and volume of agricultural output-and transforming American conceptions of expertise, success, and exploitation. Pawley's focus on soil, fertilizer, apples, mulberries, agricultural fairs, and experimental stations shows each nominally dull subject to have been an area of intellectual ferment and sharp contestation: mercantile, epistemological, and otherwise"--