Showing titles in Economic History

Crisis seems to follow crisis. Inequality is rising, growth is stagnant, the environment is suffering, and the COVID-19 pandemic has exposed every crack in the system. We hear more calls for radical change, even the overthrow of capitalism. But the answer to our problems is not revolution. The answer is to create a better capitalism by understanding and harnessing the power of creative destruction - innovation that disrupts, but that over the past 200 years has also lifted societies to previously unimagined prosperity.

Early in the 21st century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, R&D, or software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, from tech firms and pharma companies to coffee shops and gyms, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success.

The two great financial crises of the past century are the Great Depression of the 1930s and the Great Recession, which began in 2008. Both occurred against the backdrop of sharp credit booms, dubious banking practices, and a fragile and unstable global financial system. Pain and suffering were widespread.

China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country's rise without leading to its wholesale assimilation to global neoliberalism. This book uncovers the fierce contest about economic reforms that shaped China's path.

A best-selling historian's gripping account of the powerful men who controlled America's financial destiny. From the first days of the United States, a battle raged over money. On one side were the democrats, who wanted cheap money and feared the concentration of financial interests in the hands of a few. On the other were the capitalists who sought the soundness of a national bank and the profits that came with it.

What accounts for the rise of the state, the creation of the first global system, and the dominance of the West? The conventional answer asserts that superior technology, tactics, and institutions forged by Darwinian military competition gave Europeans a decisive advantage in war from 1500 onward. Empires of the Weak argues that Europeans had no general military superiority in the early modern era. Sharman shows instead that European expansion is better explained by deference to strong Asian and African polities, disease in the Americas, and maritime supremacy earned by default.

In the 30 years after the Civil War, the United States blew by Great Britain to become the greatest economic power in world history. That is a well-known period in history, when titans like Andrew Carnegie, John D. Rockefeller, and J. P. Morgan walked the earth. But as Charles R. Morris shows us, the platform for that spectacular growth spurt was built in the first half of the century. By the 1820s, America was already the world's most productive manufacturer and the most intensely commercialized society in history.

Through perseverance, solid ingenuity, and unwavering determination, family-run companies - dynasties - have dominated wealth and business throughout the last two centuries. One third of Fortune 500 firms are family owned and, in most cases, the ideal of the family business is one synonymous with continuity, watchful leadership, and dedication to success. But what happens when bad behavior, extravagance, and laziness, all very real enemies of industry, are allowed to proliferate?

According to McCloskey, our modern world was not the product of new markets and innovations but rather the result of shifting opinions about them. An utterly fascinating sequel to her critically acclaimed book The Bourgeois Virtues, Bourgeois Dignity is a feast of intellectual riches from one of our most spirited and ambitious historians - a work that will forever change our understanding of how the power of persuasion shapes our economic lives.

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

Historians and economists commonly cite natural disasters and foreign invasions to explain cultural collapses. The problem is, human families have been suffering and overcoming disasters for thousands of years. Humans cover most of the earth; they have learned to live on polar ice and in arid deserts. They have adapted to tropical islands and rain forests. Humans live literally everywhere. And wherever humans wander, they create cultures and civilizations. Civilizations fall apart when human economies and cultures collapse. The question is--what forces, over long, long time periods, divide ...

Based upon the premise that mankind experienced virtually zero economic growth from the dawn of time until 1820, this provocative, big-picture book identifies the four conditions necessary for sustained economic progress - property rights, scientific rationalism, capital markets, and communications and transportation technology - and then analyzes their gradual appearance and impact throughout every corner of the globe.

Andrew Lambert, author of The Challenge - winner of the prestigious Anderson Medal - turns his attention to Athens, Carthage, Venice, the Dutch Republic, and Britain, examining how their identities as "seapowers" informed their actions and enabled them to achieve success disproportionate to their size. Lambert demonstrates how creating maritime identities made these states more dynamic, open, and inclusive than their lumbering continental rivals. Only when they forgot this aspect of their identity did these nations begin to decline.

When Jefferson acquired the Louisiana Territory, he envisioned an "empire for liberty" populated by self-sufficient white farmers. Cleared of Native Americans and the remnants of European empires by Andrew Jackson, the Mississippi Valley was transformed instead into a booming capitalist economy commanded by wealthy planters, powered by steam engines, and dependent on the coerced labor of slaves.

Alexander Hamilton has become a global celebrity. Millions know his name and imagine knowing the man. But what did he really want for the country? What risks did he run in pursuing those vaulting ambitions? Who tried to stop him? How did they fight? It's ironic that the Hamilton revival has obscured the man's most dramatic battles and hardest-won achievements—as well as downplaying unsettling aspects of his legacy.

The New Deal shaped our nation's politics for decades, and was seen by many as tantamount to the "American Way" itself. Now, in this superb compact history, Eric Rauchway offers an informed account of the New Deal and the Great Depression, illuminating its successes and failures.

Continuing his groundbreaking analysis of economic structures, Douglass North develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies. Institutions exist due to the uncertainties involved in human interaction; they are the constraints devised to structure that interaction. Yet, institutions vary widely in their consequences for economic performance; some economies develop institutions that produce growth and development, while others develop institutions that produce stagnation.

The American economy is strong in large part because nobody believes that America would ever default on its debt. Yet in 1933, Franklin D. Roosevelt did just that, when in a bid to pull the country out of depression, he depreciated the US dollar in relation to gold, effectively annulling all debt contracts. American Default is the story of this forgotten chapter in America's history.

In the late 1630s, lured by the promise of the New World, Andrea Stuart's earliest known maternal ancestor, George Ashby, set sail from England to settle in Barbados. He fell into the life of a sugar plantation owner by mere chance, but by the time he harvested his first crop, a revolution was fully under way, binding together ambitious White entrepreneurs and enslaved Black workers in a strangling embrace....

The story of modern management generally looks to the factories of England and New England for its genesis. But after scouring through old accounting books, Caitlin Rosenthal discovered that Southern planter-capitalists practiced an early form of scientific management. They took meticulous notes, carefully recording daily profits and productivity, and subjected their slaves to experiments and incentive strategies comprised of rewards and brutal punishment.