American Economic History

In The Hellhound of Wall Street, Michael Perino recounts in riveting detail the 1933 hearings that put Wall Street on trial for the Great Crash. Never before in American history had so many financial titans been called to account before the public, and they had come within a few weeks of emerging unscathed. By the time Ferdinand Pecora, a Sicilian immigrant and former New York prosecutor, took over as chief counsel, the investigation had dragged on ineffectively for nearly a year and was universally written off as dead....

In this sometimes shocking and always riveting book, Robert G. Kaiser who has covered Congress, the White House and national politics for The Washington Post since 1963, explains how and why over the last four decades, Washington became a dysfunctional capital.

From the American Revolution through the Civil Rights movement, Americans have long mobilized against political, social, and economic privilege. Hierarchies based on inheritance, wealth, and political preferment were treated as obnoxious and a threat to democracy. Mass movements envisioned a new world supplanting dog-eat-dog capitalism. But over the last half-century that political will and cultural imagination have vanished. Why? The Age of Acquiescence seeks to solve that mystery.

Behind every financial crisis lurks a "political bubble" - policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles - arising from a potent combination of beliefs, institutions, and interests - aid, abet, and amplify risk.

From the 1830s onward, a succession of well-born Britons headed west to the great American wilderness to find adventure and fulfillment. They brought their dogs, sporting guns, valets, and all the attitudes and prejudices of their class. Prairie Fever explores why the West had such a strong romantic appeal for them at a time when their inherited wealth and passion for sport had no American equivalent.

For some of the world's most powerful people, the Empire State Building is the ultimate prize. In a riveting chronicle of betrayal, revenge, family rivalry, and raw greed, Wall Street Journal columnist Pacelle tells the compelling tale of the Empire State Building ownership battle of the 1980s and '90s, bringing to life a colorful cast of characters that includes Donald Trump, Leona Helmsley, and the eccentric Japanese billionaire Hideki Yokoi.

For Jobs and Freedom: Race and Labor in America since 1865 describes the African American struggle to obtain equal rights in the workplace and organized labor's response to their demands. Award-winning historian Robert H. Zieger asserts that the promise of jobs was similar to the 40-acres-and-a-mule restitution pledged to African Americans during the Reconstruction era. The inconsistencies between rhetoric and action encouraged workers, both men and women, to organize themselves into unions to fight against unfair hiring practices and workplace discrimination.

A lyrical work of narrative nonfiction that portrays how the largest domestic oil discovery in half a century transformed a forgotten corner of the American West into a crucible of breakneck capitalism. As North Dakota became the nation's second-largest oil producer, Maya Rao set out in steel-toe boots to join a wave of drifters, dreamers, entrepreneurs, and criminals. With an eye for the dark, absurd, and humorous, Rao fearlessly immersed herself in their world to chronicle this modern-day gold rush, from its heady beginnings to OPEC's price war against the US oil industry.

America’s unique prosperity is based on its creation of a middle class. In the 20th century, that middle class provided the workforce, the educated skills, and the demand that gave life to the world’s greatest consumer economy. It was innovative and dynamic; it eclipsed old imperial systems and colonial archetypes. It gave rise to a dream: that if you worked hard and followed the rules you would prosper in America, and your children would enjoy a better life than yours. Incredibly, however, for more than 30 years, government and big business in America have conspired to roll back the American dream....

It may be hard to believe in an era of Walmart, Citizens United, and the Koch brothers, but corporations are on the decline. The number of American companies listed on the stock market dropped by half between 1996 and 2012. In recent years we've seen some of the most storied corporations go bankrupt (General Motors, Chrysler, Eastman Kodak) or disappear entirely (Bethlehem Steel, Lehman Brothers, Borders).

Author John F. Wasik tracks Lincoln from his time in the 1830s as a young Illinois state legislator pushing for internal improvements; through his work as a lawyer representing the Illinois Central Railroad in the 1840s; to his presidential fight for the Transcontinental Railroad; and his support of land-grant colleges that educated a nation. These brick-and-mortar developments were essential to how the nation could lift citizens above poverty and its isolating origins.

Conceived in the early 1800s and completed in 1825, the Erie Canal was the boldest and biggest American engineering project of its century, with enduring political, social, and economic effects. It was the Erie Canal that first opened up the West to American enterprise and imagination, bringing vast riches and a far-reaching vision to a rapidly expanding nation.In this compelling narrative, author Gerard Koeppel tells the complete, sweeping story of the creation of the canal.

Born in Italy, University of Chicago economist Luigi Zingales witnessed firsthand the consequences of high inflation and unemployment - paired with rampant nepotism and cronyism - on a country’s economy. This experience profoundly shaped his professional interests, and in 1988 he arrived in the United States, armed with a political passion and the belief that economists should not merely interpret the world, but should change it for the better.

This book chronicles the creation of Everglades National Park, the largest subtropical wilderness in the United States. Prior to the park's creation, the Everglades was seen as a reviled and useless swamp, unfit for typical recreational or development projects. Park advocates drew on new ideas concerning the value of biota and ecology, the importance of wilderness, and the need to protect habitats, marine ecosystems, and plant life to redefine the Everglades. Using these ideas, the Everglades began to be recognized as an ecologically valuable and fragile wetland.

Despite Brazil being part of the BRIC nations, those with the most potential for growth in the global economy, Brazil is considered economically backwards in many ways. You get an idea of this when you look deeper into its politics and economic policies. In this edition of Summary Shorts, we will analyze and summarize the ideas put forth in Brazillionaires, a book that truly exposes the dark side of Brazil's rise and arguably its inexorable fall.

Just as the industrial capitalism of the 19th century gave way to corporate capitalism in the 20th, recent decades have witnessed corporate capitalism evolving into a new phase, which Ehrenreich calls "Third Wave Capitalism." Third Wave Capitalism is marked by apparent contradictions: Rapid growth in productivity and lagging wages; fabulous wealth for the one percent and the persistence of high levels of poverty; increases in the standard of living and increases in mental illness, and much more.

In The Company Town, Hardy Green, who has covered American business for over a decade, offers a compelling analysis of the emergence of these communities and their role in shaping the American economy, beginning in the country's earliest years....

Private foundations have been the dynamo of social change since their invention at the beginning of the last century. Yet just over 10 percent of the public knows they even exist; and for those who are aware of them, as well as even those who seek grants from them, their internal workings remain a complete mystery

Black Picket Fences is a stark, moving, and candid look at a section of America that is too often ignored by both scholars and the media: the Black middle class. The result of living for three years in "Groveland", a Black middle-class neighborhood on Chicago's South Side, sociologist Mary Pattillo-McCoy has written a book that explores both the advantages and the boundaries that exist for members of the Black middle class.

In 1980, Exxon U.S.A., the world's largest corporation, began development of a five-billion-dollar oil shale industry in the pristine Colorado River Valley. Within eighteen months, Exxon had canceled its elaborate Colony project and 2,100 workers were immediately laid off. Boomtown Blues chronicles the social, environmental, and economic havoc created by one of the most expensive boom and bust cycles in the history of the American West.