American Bonds


Book Description

How the American government has long used financial credit programs to create economic opportunities Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation’s founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, American Bonds examines the evolution of securitization and federal credit programs. Sarah Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America’s complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government’s role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization. Illuminating America’s market-heavy social policies, American Bonds illustrates how political institutions became involved in the nation’s lending practices.




Bonds of Union


Book Description

This vivid history of the Civil War era reveals how unexpected bonds of union forged among diverse peoples in the Ohio-Kentucky borderlands furthered emancipation through a period of spiraling chaos between 1830 and 1865. Moving beyond familiar arguments about Lincoln's deft politics or regional commercial ties, Bridget Ford recovers the potent religious, racial, and political attachments holding the country together at one of its most likely breaking points, the Ohio River. Living in a bitterly contested region, the Americans examined here--Protestant and Catholic, black and white, northerner and southerner--made zealous efforts to understand the daily lives and struggles of those on the opposite side of vexing human and ideological divides. In their common pursuits of religious devotionalism, universal public education regardless of race, and relief from suffering during wartime, Ford discovers a surprisingly capacious and inclusive sense of political union in the Civil War era. While accounting for the era's many disintegrative forces, Ford reveals the imaginative work that went into bridging stark differences in lived experience, and she posits that work as a precondition for slavery's end and the Union's persistence.




Social and Political Bonds


Book Description

Warning specifically against official moralistic rhetoric, the ignoring of civic demands, and hidden acts of power by anonymous governmental bureaucracies and lobbyists, F.M. Barnard uses an approach that blurs the boundaries of specialized fields of study in order to recognize the degree to which individual choice influences political force. He also shows how any attempt to achieve a balance between the state and society requires a developed political judgement and a measured view of what can be politically attained and demanded. A masterfully clear work that synthesizes centuries of political theory, Social and Political Bonds makes a powerful and well-reasoned case for the benefits of civic involvement and governmental cooperation.




Partisan Bonds


Book Description

Political scientists have long painted American voters' dependence on partisan cues at the ballot box as a discouraging consequence of their overall ignorance about politics. Taking on this conventional wisdom, Jeffrey D. Grynaviski advances the provocative theory that voters instead rely on these cues because party brand names provide credible information about how politicians are likely to act in office, despite the weakness of formal party organization in the United States. Among the important empirical implications of his theory, which he carefully supports with rigorous data analysis, are that voter uncertainty about a party's issue positions varies with the level of party unity it exhibits in government, that party preferences in the electorate are strongest among the most certain voters, and that party brand names have meaningful consequences for the electoral strategies of party leaders and individual candidates for office.




Bonds of Civility


Book Description

This book combines sociological insights in organizations with cultural history.




A Theory of Political Obligation


Book Description

Margaret Gilbert offers an incisive new approach to a classic problem of political philosophy: when and why should I do what the laws of my country tell me to do? Beginning with carefully argued accounts of social groups in general and political societies in particular, the author argues that in central, standard senses of the relevant terms membership in a political society in and of itself obligates one to support that society's political institutions. The obligations in questionare not moral requirements derived from general moral principles, as is often supposed, but a matter of one's participation in a special kind of commitment: joint commitment. An agreement is sufficient but not necessary to generate such a commitment. Gilbert uses the phrase 'plural subject' to referto all of those who are jointly committed in some way. She therefore labels the theory offered in this book the plural subject theory of political obligation.The author concentrates on the exposition of this theory, carefully explaining how and in what sense joint commitments obligate. She also explores a classic theory of political obligation --- actual contract theory --- according to which one is obligated to conform to the laws of one's country because one agreed to do so. She offers a new interpretation of this theory in light of a theory of plural subject theory of agreements. She argues that actual contract theory has more merit than has beenthought, though the more general plural subject theory is to be preferred. She compares and contrasts plural subject theory with identification theory, relationship theory, and the theory of fair play. She brings it to bear on some classic situations of crisis, and, in the concluding chapter,suggests a number of avenues for related empirical and moral inquiry.Clearly and compellingly written, A Theory of Political Obligation will be essential reading for political philosophers and theorists.




The Bonds of Inequality


Book Description

Indebtedness, like inequality, has become a ubiquitous condition in the United States. Yet few have probed American cities’ dependence on municipal debt or how the terms of municipal finance structure racial privileges, entrench spatial neglect, elide democratic input, and distribute wealth and power. In this passionate and deeply researched book, Destin Jenkins shows in vivid detail how, beyond the borrowing decisions of American cities and beneath their quotidian infrastructure, there lurks a world of politics and finance that is rarely seen, let alone understood. Focusing on San Francisco, The Bonds of Inequality offers a singular view of the postwar city, one where the dynamics that drove its creation encompassed not only local politicians but also banks, credit rating firms, insurance companies, and the national municipal bond market. Moving between the local and the national, The Bonds of Inequality uncovers how racial inequalities in San Francisco were intrinsically tied to municipal finance arrangements and how these arrangements were central in determining the distribution of resources in the city. By homing in on financing and its imperatives, Jenkins boldly rewrites the history of modern American cities, revealing the hidden strings that bind debt and power, race and inequity, democracy and capitalism.




Bonds of War


Book Description

How does one package and sell confidence in the stability of a nation riven by civil strife? This was the question that loomed before the Philadelphia financial house of Jay Cooke & Company,&8239;entrusted&8239;by the US government with an unprecedented sale of bonds to finance the Union war effort in the early days of the American Civil War.&8239;How the government and its agents marketed these bonds revealed a version of the war the public was willing to buy and buy into, based not just in the full faith and credit of the United States but also in the success of its armies and its long-term vision for open markets. From Maine to California, and in foreign halls of power and economic influence,&8239;thousands of agents were deployed to&8239;sell&8239;a clear message: Union victory was unleashing the American economy itself. This fascinating work of&8239;financial and political history&8239;during&8239;the Civil War&8239;era&8239;shows&8239;how the marketing and sale of bonds crossed the Atlantic to Europe and beyond, helping ensure foreign countries' vested interest in the Union's success. Indeed, David K. Thomson demonstrates how Europe, and ultimately all corners of the globe, grew deeply interdependent on American finance during, and in the immediate aftermath of, the American Civil War.&8239;




Super PACs


Book Description

The passage of Citizens United by the Supreme Court in 2010 sparked a renewed debate about campaign spending by large political action committees, or Super PACs. Its ruling said that it is okay for corporations and labor unions to spend as much as they want in advertising and other methods to convince people to vote for or against a candidate. This book provides a wide range of opinions on the issue. Includes primary and secondary sources from a variety of perspectives; eyewitnesses, scientific journals, government officials, and many others.




Mobilizing the Home Front


Book Description

Kimble examines the U.S. Treasury’s eight war bond drives that raised over $185 billion—the largest single domestic propaganda campaign known to that time. The campaign enlisted such figures as Judy Garland, Norman Rockwell, Irving Berlin, and Donald Duck to cultivate national morale and convince Americans to buy war bonds.