The Triumph of American Capitalism


Book Description

"Authorities cited in the text": pages 439-445.




American Colossus


Book Description

In a grand-scale narrative history, the bestselling author of two finalists for the Pulitzer Prize now captures the decades when capitalism was at its most unbridled and a few breathtakingly wealthy businessmen utterly transformed America from an agrarian economy to a world power. The years between the Civil War and the end of the nineteenth century saw the wholesale transformation of America from a land of small farmers and small businessmen into an industrial giant. Driven by unfathomably wealthy and powerful businessmen like J. P. Morgan, Andrew Carnegie and John D. Rockefeller, armies of workers, both male and female, were harnessed to a new vision of massive industry. A society rooted in the soil became one based in cities, and legions of immigrants were drawn to American shores. What’s more, in accomplishing its revolution, capitalism threatened to eclipse American democracy. “What do I care about the law?” bellowed Cornelius Vanderbilt. “Hain’t I got the power?” He did, and with it he and the other capitalists reshaped every aspect of American life. In American Colossus, H.W. Brands portrays the emergence, in a remarkably short time, of a recognizably modern America. The capitalist revolution left not a single area or aspect of American life untouched. It roared across the South, wrenching that region from its feudal past and integrating the southern economy into the national one. It burst over the West, dictating the destruction of Native American economies and peoples, driving the exploitation of natural resources, and making the frontier of settlement a business frontier as well. It crashed across the urban landscape of the East and North, turning cities into engines of wealth and poverty, opulence and squalor. It swamped the politics of an earlier era, capturing one major party and half of the other, inspiring the creation of a third party and determining the issues over which all three waged some of the bitterest battles in American history. Brands’s spellbinding narrative beautifully depicts the oil gushers of western Pennsylvania, the rise, in Chicago, of the first skyscraper, the exploration of the Colorado River, the cattle drives of the West, and the early passionate sparks of union life. By 1900 the America he portrays is wealthier than ever, yet prosperity is precarious, inequality rampant, and democracy stretched thin. American Colossus is an unforgettable portrait of the years when the contest between capitalism and democracy was at its sharpest, and capitalism triumphed.




The Long Gilded Age


Book Description

Presenting a new twist on classic themes of American economic and working-class history, The Long Gilded Age considers the interlocking roles of politics, labor, and internationalism in the ideologies and institutions that emerged at the turn of the twentieth century.




American Capitalism


Book Description

To understand the past and especially our own times, arguably no story is as essential to get right as the history of capitalism. Nearly all of our theories about promoting progress come from how we interpret the economic changes of the last 500 years. This past decade’s crises continue to remind us just how much capitalism changes, even as basic features like wage labor, financial markets, private property, and entrepreneurs endure. While capitalism has a global history, the United States plays a special role in that story. American Capitalism: A Reader will help you to understand how the United States became the world’s leading economic power, while revealing essential lessons about what has been and what will be possible in capitalism’s ongoing revolution. Combining a wealth of essential readings, introductions by Professors Baptist and Hyman, and questions to help guide readers through the materials and broader subject, this course reader will prepare students to think critically about the history of capitalism in America.










The Triumph of Capitalism


Book Description

Today there is widespread recognition that capitalism is the socioeconomic system of choice. This volume, perhaps the best single-volume assessment of this economic model and how it emerged, contributes to the understanding of the historic role of capitalism. After reviewing the gestation of the system, it explains the emergence of full-blown capitalism in the eighteenth century, taking it into the nineteenth and its link to the industrial revolution. The primary focus, however, is on the twentieth century, in which capitalism faced and met challenges due to world wars and depression with the aid of interventionist policies, notably Keynesian economics and the welfare state. But the failure of the postwar policy consensus to cope with the twin problems of inflation and slow economic growth led to a resurgence of greater reliance on unalloyed capitalism. Capitalist values so permeate modern culture in America that to question them seems like heresy. In 1989, the economist Robert L. Heilbroner, who had been a perceptive student of capitalism and socialism for decades, proclaimed "The Triumph of Capitalism," arguing that the contest of economic systems was over and the victory of capitalism was unambiguous. Fifteen years later, C. Fred Bergsten, Director of the Institute for International Economics, reinforced this view: "The U.S. model of capitalism and globalization dominates thinking around the world." Writer Russell Baker, dismayed by perceived degrading effects of market-obsessed management on journalism, observed that "belief in the virtue of maximized profits has acquired something like sanctity in American life." An appreciation of economic and social history, and the accompanying clash of ideas, is helpful in providing a context in which ongoing challenges may be evaluated. It is important to know that what is understood to be capitalism has changed significantly over time. The purpose of this book is to provide such context. Written by an economist, but accessible to a general public, this book is a wide-ranging assessment of today's dominant economic system and its historical development.




Ages of American Capitalism


Book Description

A leading economic historian traces the evolution of American capitalism from the colonial era to the present—and argues that we’ve reached a turning point that will define the era ahead. “A monumental achievement, sure to become a classic.”—Zachary D. Carter, author of The Price of Peace In this ambitious single-volume history of the United States, economic historian Jonathan Levy reveals how capitalism in America has evolved through four distinct ages and how the country’s economic evolution is inseparable from the nature of American life itself. The Age of Commerce spans the colonial era through the outbreak of the Civil War, and the Age of Capital traces the lasting impact of the industrial revolution. The volatility of the Age of Capital ultimately led to the Great Depression, which sparked the Age of Control, during which the government took on a more active role in the economy, and finally, in the Age of Chaos, deregulation and the growth of the finance industry created a booming economy for some but also striking inequalities and a lack of oversight that led directly to the crash of 2008. In Ages of American Capitalism, Levy proves that capitalism in the United States has never been just one thing. Instead, it has morphed through the country’s history—and it’s likely changing again right now. “A stunning accomplishment . . . an indispensable guide to understanding American history—and what’s happening in today’s economy.”—Christian Science Monitor “The best one-volume history of American capitalism.”—Sven Beckert, author of Empire of Cotton







The Corporate Reconstruction of American Capitalism, 1890-1916


Book Description

Through an examination of the judicial, legislative, and political aspects of the antitrust debates in 1890 to 1916, Sklar shows that arguments were not only over competition versus combination, but also over the question of the relations between government and the market and the state and society.