Banking Panics of the Gilded Age

Banking Panics of the Gilded Age

Author: Elmus Wicker

Publisher: Cambridge University Press

Published: 2000-09-04

Total Pages: 182

ISBN-13: 0521770238

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This study of post-Civil War banking panics has constructed estimates of bank closures and their incidence in five separate banking disturbances. The book reconstructs the course of banking panics in the interior, where suspension of cash payment was the primary effect on the average person.


The Age of Acrimony

The Age of Acrimony

Author: Jon Grinspan

Publisher: Bloomsbury Publishing USA

Published: 2021-04-27

Total Pages: 403

ISBN-13: 1635574633

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A penetrating, character-filled history “in the manner of David McCullough” (WSJ), revealing the deep roots of our tormented present-day politics. Democracy was broken. Or that was what many Americans believed in the decades after the Civil War. Shaken by economic and technological disruption, they sought safety in aggressive, tribal partisanship. The results were the loudest, closest, most violent elections in U.S. history, driven by vibrant campaigns that drew our highest-ever voter turnouts. At the century's end, reformers finally restrained this wild system, trading away participation for civility in the process. They built a calmer, cleaner democracy, but also a more distant one. Americans' voting rates crashed and never fully recovered. This is the origin story of the “normal” politics of the 20th century. Only by exploring where that civility and restraint came from can we understand what is happening to our democracy today. The Age of Acrimony charts the rise and fall of 19th-century America's unruly politics through the lives of a remarkable father-daughter dynasty. The radical congressman William “Pig Iron” Kelley and his fiery, Progressive daughter Florence Kelley led lives packed with drama, intimately tied to their nation's politics. Through their friendships and feuds, campaigns and crusades, Will and Florie trace the narrative of a democracy in crisis. In telling the tale of what it cost to cool our republic, historian Jon Grinspan reveals our divisive political system's enduring capacity to reinvent itself.


America's First Great Depression

America's First Great Depression

Author: Alasdair Roberts

Publisher: Cornell University Press

Published: 2012-04-15

Total Pages: 265

ISBN-13: 0801464676

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For a while, it seemed impossible to lose money on real estate. But then the bubble burst. The financial sector was paralyzed and the economy contracted. State and federal governments struggled to pay their domestic and foreign creditors. Washington was incapable of decisive action. The country seethed with political and social unrest. In America's First Great Depression, Alasdair Roberts describes how the United States dealt with the economic and political crisis that followed the Panic of 1837. As Roberts shows, the two decades that preceded the Panic had marked a democratic surge in the United States. However, the nation’s commitment to democracy was tested severely during this crisis. Foreign lenders questioned whether American politicians could make the unpopular decisions needed on spending and taxing. State and local officials struggled to put down riots and rebellion. A few wondered whether this was the end of America’s democratic experiment. Roberts explains how the country’s woes were complicated by its dependence on foreign trade and investment, particularly with Britain. Aware of the contemporary relevance of this story, Roberts examines how the country responded to the political and cultural aftershocks of 1837, transforming its political institutions to strike a new balance between liberty and social order, and uneasily coming to terms with its place in the global economy.


Crisis Diplomacy

Crisis Diplomacy

Author: James L. Richardson

Publisher: Cambridge University Press

Published: 1994-09-29

Total Pages: 444

ISBN-13: 9780521459877

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Although much has been written on international crises, the literature suffers from a lack of historical depth, and a proliferation of competing theoretical frameworks. Through case studies drawing on the rich historical experience of crisis diplomacy, James Richardson offers an integrated analysis based on a critical assessment of the main theoretical approaches. Due weight is given to systemic and structural factors, but also to the specific historical factors of each case, and to theories which do not presuppose rationality as well as those which do. Crisis diplomacy the major political choices made by decision makers, and their strategies, judgments and misjudgments - is found to play a crucial role in each of the case studies. This broad historical inquiry is especially timely when the ending of the Cold War has removed the settled parameters within which the superpowers conducted their crisis diplomacy.


The Crisis of the Middle-Class Constitution

The Crisis of the Middle-Class Constitution

Author: Ganesh Sitaraman

Publisher: Vintage

Published: 2017-03-14

Total Pages: 433

ISBN-13: 0451493923

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In this original, provocative contribution to the debate over economic inequality, Ganesh Sitaraman argues that a strong and sizable middle class is a prerequisite for America’s constitutional system. A New York Times Notable Book of 2017 For most of Western history, Sitaraman argues, constitutional thinkers assumed economic inequality was inevitable and inescapable—and they designed governments to prevent class divisions from spilling over into class warfare. The American Constitution is different. Compared to Europe and the ancient world, America was a society of almost unprecedented economic equality, and the founding generation saw this equality as essential for the preservation of America’s republic. Over the next two centuries, generations of Americans fought to sustain the economic preconditions for our constitutional system. But today, with economic and political inequality on the rise, Sitaraman says Americans face a choice: Will we accept rising economic inequality and risk oligarchy or will we rebuild the middle class and reclaim our republic? The Crisis of the Middle-Class Constitution is a tour de force of history, philosophy, law, and politics. It makes a compelling case that inequality is more than just a moral or economic problem; it threatens the very core of our constitutional system.


Accounting For Crises: A Marxist History Of American Accounting Theory, C.1929-2007

Accounting For Crises: A Marxist History Of American Accounting Theory, C.1929-2007

Author: Rob Bryer

Publisher: World Scientific

Published: 2023-07-07

Total Pages: 481

ISBN-13: 9811267081

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Historians have not convincingly explained modern capitalism's two major economic crises, the Great Depression of the 1930s, and the Global Financial Crisis (GFC) of 2008-2009. Accounting for Crises offers a new explanation, why both began and were more severe in the USA ('America'), based on an accounting interpretation of Marx's theory of crises. It explains their origins in capitalists' control of accumulation, which reveals important overlooked roles for Irving Fisher's accounting theory. This theory, by allowing discretion in accounts, in the context of falling rates of profit, encouraged 'swindling', overstating reported profits, and understating their risk, which facilitated and aggravated both crises. Framed by Fisher's theory, during the 1920s American accounting theorists justified discretion, which Creating the 'Big Mess' (the companion volume) concluded it management used to conservatively smooth earnings. Accounting for Crises shows that Fisher's theory , also underlays the popular new theory of investment that justified valuing shares using reported earnings, which encouraged their manipulation and legitimized 'speculation'. This, it argues, underlays America's exceptional late-1920s stock market boom, the 1929 Great Crash, and the depth and length of its Great Depression. Prominently associated with the boom, Fisher became unpopular after the crash, his name disappearing from public debate. Nevertheless, the book concludes, his theory hindered economic recovery, weakened 1930s reforms, undermined accounting regulation from the late-1930s, and following his rehabilitation from the late-1950s, underlies the Financial Accounting Standards Board's conceptual framework, which by allowing off-balance-sheet accounting for securitization-SPEs, fostered the 2007 'credit crunch' that triggered the 2008-2009 Global Financial Crisis (GFC).


Global Crisis

Global Crisis

Author: Geoffrey Parker

Publisher: Yale University Press

Published: 2013-03-15

Total Pages: 944

ISBN-13: 0300189192

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The acclaimed historian demonstrates a link between climate change and social unrest across the globe during the mid-17th century. Revolutions, droughts, famines, invasions, wars, regicides, government collapses—the calamities of the mid-seventeenth century were unprecedented in both frequency and severity. The effects of what historians call the "General Crisis" extended from England to Japan and from the Russian Empire to sub-Saharan Africa and the Americas. In this meticulously researched volume, historian Geoffrey Parker presents the firsthand testimony of men and women who experienced the many political, economic, and social crises that occurred between 1618 to the late 1680s. He also incorporates the scientific evidence of climate change during this period into the narrative, offering a strikingly new understanding of the General Crisis. Changes in weather patterns, especially longer winters and cooler and wetter summers, disrupted growing seasons and destroyed harvests. This in turn brought hunger, malnutrition, and disease; and as material conditions worsened, wars, rebellions, and revolutions rocked the world.


The Age of the Crisis of Man

The Age of the Crisis of Man

Author: Mark Greif

Publisher: Princeton University Press

Published: 2015-01-18

Total Pages: 449

ISBN-13: 1400852102

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A compelling intellectual and literary history of midcentury America In a midcentury American cultural episode forgotten today, intellectuals of all schools shared a belief that human nature was under threat. The immediate result was a glut of dense, abstract books on the "nature of man." But the dawning "age of the crisis of man," as Mark Greif calls it, was far more than a historical curiosity. In this ambitious intellectual and literary history, Greif recovers this lost line of thought to show how it influenced society, politics, and culture before, during, and long after World War II. During the 1930s and 1940s, fears of the barbarization of humanity energized New York intellectuals, Chicago protoconservatives, European Jewish émigrés, and native-born bohemians to seek "re-enlightenment," a new philosophical account of human nature and history. After the war this effort diffused, leading to a rebirth of modern human rights and a new power for the literary arts. Critics' predictions of a "death of the novel" challenged writers to invest bloodless questions of human nature with flesh and detail. Hemingway, Faulkner, and Richard Wright wrote flawed novels of abstract man. Succeeding them, Ralph Ellison, Saul Bellow, Flannery O'Connor, and Thomas Pynchon constituted a new guard who tested philosophical questions against social realities—race, religious faith, and the rise of technology—that kept difference and diversity alive. By the 1960s, the idea of "universal man" gave way to moral antihumanism, as new sensibilities and social movements transformed what had come before. Greif's reframing of a foundational debate takes us beyond old antagonisms into a new future, and gives a prehistory to the fractures of our own era.