This monograph by Steven Horwitzand Peter Boettke explains howpolicymakers created the housing bubble,the recession of 2008, and, if they keepon compunding their mistakes, couldbe setting us up for a lost decadeof our own.
Before William Faulkner, there was Colonel William C. Falkner (1825–1889), the great-grandfather of the prominent and well-known Mississippi writer. The first biography of Falkner was a dissertation by the late Donald Duclos, which was completed in 1961, and while Faulkner scholars have briefly touched on the life of the Colonel due to his influence on the writer’s work and life, there have been no new biographies dedicated to Falkner until now. To the Ramparts of Infinity: Colonel W. C. Falkner and the Ripley Railroad seeks to fill this gap in scholarship and Mississippi history by providing a biography of the Colonel, sketching out the cultural landscape of Ripley, Mississippi, and alluding to Falkner’s influence on his great-grandson’s Yoknapatawpha cycle of stories. While the primary thrust of the narrative is to provide a sound biography on Falkner, author Jack D. Elliott Jr. also seeks to identify sites in Ripley that were associated with the Colonel and his family. This is accomplished in part within the main narrative, but the sites are specifically focused on, summarized, and organized into an appendix entitled “A Field Guide to Colonel Falkner’s Ripley.” There, the sites are listed along with old and contemporary photographs of buildings. Maps of the area, plotting military action as well as the railroads, are also included, providing essential material for readers to understand the geographical background of the area in this period of Mississippi history.
Money, Banking, and the Business Cycle provides a comprehensive framework for analyzing these mechanisms, and offers a robust prescription for reducing financial instability over the long-term. Volume I bridges tough economic theory with empirical evidence.
Each year, North Americans spend as much money fixing up their homes as they do buying new ones. This obsession with improving our dwellings has given rise to a multibillion-dollar industry that includes countless books, consumer magazines, a cable television network, and thousands of home improvement stores. Building a Market charts the rise of the home improvement industry in the United States and Canada from the end of World War I into the late 1950s. Drawing on the insights of business, social, and urban historians, and making use of a wide range of documentary sources, Richard Harris shows how the middle-class preference for home ownership first emerged in the 1920s—and how manufacturers, retailers, and the federal government combined to establish the massive home improvement market and a pervasive culture of Do-It-Yourself. Deeply insightful, Building a Market is the carefully crafted history of the emergence and evolution of a home improvement revolution that changed not just American culture but the American landscape as well.
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.