American Business History

This volume explores the variety of business enterprise in the United States and analyzes its presence in the country's economy, its evolution over time, and its meaning in society.

The United States has always proved an inviting home for boosters, sharp dealers, and outright swindlers. Worship of entrepreneurial freedom has complicated the task of distinguishing aggressive salesmanship from unacceptable deceit, especially on the frontiers of innovation. At the same time, competitive pressures have often nudged respectable firms to embrace deception. As a result, fraud has been a key feature of American business since its beginnings.

Rockefeller was the quintessential industrialist. He created an industry out of nascent oil and gas start-ups during a time when none existed. His strategies and tactics may not have been approved by all, but he was certain he was doing God’s work. We live in a world today that is based on the actions of John D. Rockefeller. Everything we do and how we live are the result of oil and its power. This inherent structure is based on what one man did when the oil industry was just starting off.

New York Times best-selling author and Pulitzer Prize finalist Arthur Herman pens this fascinating look at how two businessmen turned the U.S. into a military powerhouse during World War II. In 1940, FDR asked General Motors CEO William Knudsen to oversee the production of guns, tanks, and planes needed for the war. Meanwhile, industrialist Henry J. Kaiser presided over the building of “Liberty ships” - vessels that came to symbolize America’s great wartime output.

In looking at the forces that shaped the 2016 presidential election, one thing is clear: Much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans. This is a belief held equally on both sides of political spectrum, and it seems only to be gaining momentum.

A remarkable debut by one of America's premier young reporters on financial corruption, American Kleptocracy offers the first explosive investigation into how the United States of America built the largest illicit offshore finance system the world has ever known.

The definitive volume on Enron's amazing rise and scandalous fall, from an award-winning team of Fortune investigative reporters.

In Prince of Darkness, a groundbreaking and vivid account, eminent historian Shane White reveals the larger-than-life story of a man who defied every convention of his time. He wheeled and dealed in the lily-white business world, he married a White woman, he bought a mansion in rural New Jersey, he owned railroad stock on trains he was not legally allowed to ride, and generally he set his White contemporaries' teeth on edge when he wasn't just plain outsmarting them.

From 1783, when German immigrant John Jacob Astor first arrived in the United States, until 2009, when Brooke Astor’s son, Anthony Marshall, was convicted of defrauding his elderly mother, the Astor name occupied a unique place in American society. The family fortune, first made by a beaver trapping business that grew into an empire, was then amplified by holdings in Manhattan real estate. Over the ensuing generations, Astors ruled Gilded Age New York society and inserted themselves into political and cultural life, but also suffered the most famous loss on the Titanic.

The National Football League's current dominance has obscured how professional football got its start. In The League, John Eisenberg reveals that Art Rooney, George Halas, Tim Mara, George Preston Marshall, and Bert Bell took an immense risk by investing in the professional game. At that time, the sport barely registered on the national scene. The five owners succeeded only because at critical junctures in the 1920s, 1930s, and 1940s, each sacrificed the short-term success of his team for the longer-term good of the League.

A behind-the-scenes, revelatory history of McKinsey & Company, America's most influential and controversial business consulting firm, told by one of the nation's leading financial journalists. In The Firm, Duff McDonald uncovers how these high-powered, high-priced business savants have ushered in waves of structural, financial, and technological shifts. With unrivaled access to company documents and current and former employees, McDonald reveals the inner workings of what just might be the most influential private organization in America.

In When Women Ran Fifth Avenue, journalist Julie Satow draws back the curtain on three visionaries who took great risks, forging new paths for the women who followed in their footsteps. This stylish account, rich with personal drama and trade secrets, captures the department store in all its glitz, decadence, and fun, and showcases the women who made that beautifully curated world go round.

A gripping, groundbreaking biography of the combative man whose genius and force of will created modern capitalism. Founder of a dynasty, builder of the original Grand Central, creator of an impossibly vast fortune, Cornelius “Commodore” Vanderbilt is an American icon. Humbly born on Staten Island during George Washington’s presidency, he rose from boatman to builder of the nation’s largest fleet of steamships to lord of a railroad empire.

American monopolies dominate, control, and consume most of the energy of our entire economic system; they function the same way as cancer does in a body, and like cancer, they weaken our systems while threatening to crash the entire body economics. American monopolies have also seized massive political power and use it to maintain their obscene profits and CEO salaries while crushing small competitors.

Steve Coll investigates the largest and most powerful private corporation in the United States, revealing the true extent of its power. ExxonMobil’s annual revenues are larger than the economic activity in the great majority of countries. In many of the countries where it conducts business, ExxonMobil’s sway over politics and security is greater than that of the United States embassy. In Washington, ExxonMobil spends more money lobbying Congress and the White House than almost any other corporation. Yet despite its outsized influence, it is a black box.

Two decades into the twenty-first century, the stagnation of living standards has become the defining trend of American life. Life expectancy has declined, economic inequality has soared, and, after some progress, the Black-white wage gap is once again as large as it was in the 1950s. How did this happen in the world’s most powerful country? And what happened to the “American dream”—the promise of a happier, healthier, more prosperous future—which was once such an inextricable part of our national identity?

The modern American economy was the creation of four men: Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan. They were the giants of the Gilded Age, a moment of riotous growth that established America as the richest, most inventive, and most productive country on the planet. Acclaimed author Charles R. Morris vividly brings these men and their times to life. The Tycoons tells the incredible story of how these four determined men wrenched the economy into the modern age, inventing a nation of full economic participation that could not have been imagined earlier.

In The Secret History of the American Empire, Perkins zeroes in on hot spots around the world and, drawing on interviews with other hit men, jackals, reporters, and activists, examines the current geopolitical crisis. Instability is the norm; it's clear that the world we've created is dangerous and no longer sustainable. How did we get here? Who's responsible? What good have we done and at what cost? And what can we do to change things for the next generations?

From the days of the Mayflower and the Virginia Company, America has been a place for people to dream, invent, build, tinker, and bet the farm in pursuit of a better life. Americana takes us on a 400-year journey of this spirit of innovation and ambition through a series of Next Big Things - the inventions, techniques, and industries that drove American history forward: from the telegraph, the railroad, guns, radio, and banking, to flight, suburbia, and sneakers, culminating with the Internet and mobile technology at the turn of the 21st century.

When Pulitzer Prize-winning journalist Bill Dedman noticed in 2009 a grand home for sale, unoccupied for nearly 60 years, he stumbled through a surprising portal into American history. Empty Mansions is a rich mystery of wealth and loss, connecting the Gilded Age opulence of the 19th century with a 21st-century battle over a $300 million inheritance. At its heart is a reclusive heiress named Huguette Clark, a woman so secretive that, at the time of her death at age 104, no new photograph of her had been seen in decades.