Beyond Sputnik and the Space Race
Beyond Sputnik and the Space Race

Author: Hugh R. Slotten

Publisher: JHU Press

Published: 2022-02-08

Total Pages: 256

ISBN-13: 1421441233

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A fascinating account of how the United States established the first global satellite communications system to project geopolitical leadership during the Cold War. On July 20, 1969, the world watched, spellbound, as NASA astronaut Neil Armstrong stepped off the Apollo 11 lunar module to walk on the moon. NASA estimated that 20 percent of the planet's population—nearly 650 million people—watched the moon landing footage, which was made possible by the first global satellite communications system, the International Telecommunications Satellite Organization, or Intelsat. In Beyond Sputnik and the Space Race, Hugh R. Slotten analyzes the efforts of US officials, especially during the Kennedy administration, to establish this satellite communication system and open it to all countries of the world. Locked in competition with the Soviet Union for both military superiority and international prestige, President John F. Kennedy overturned the Eisenhower administration's policy of treating satellite communications as simply an extension of traditionally regulated telecommunications. Instead of allowing private communications companies to set up separate systems that would likely primarily serve major "developed" regions, the new administration decided to take the lead in establishing a single world system. Explaining how the East-West Cold War conflict became increasingly influenced by North-South tensions during this period, Slotten highlights the growing importance of non-aligned countries in Asia, Latin America, and Africa. He also underscores the importance of a political economy of "total Cold War" in which many crucial aspects of US society became tied to imperatives of national security and geopolitical prestige. Drawing on detailed archival records to examine the full range of decisionmakers involved in the Intelsat system, Beyond Sputnik and the Space Race spotlights mid- and lower-level agency staff usually ignored by historians. One of the few works to analyze the establishment of a major global infrastructure project, this book provides an outstanding analytical overview of the history of global electronic communications from the mid-nineteenth century to the present.

Dividends of Development
Dividends of Development

Author: Mary A. O'Sullivan

Publisher: Oxford University Press

Published: 2016-10-20

Total Pages: 360

ISBN-13: 0191092533

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The unprecedented importance of finance in our societies, as well as its central role in provoking economic crises, has generated an enormous interest in understanding the historical origins and evolution of modern financial systems. Today the U.S. economy is seen as an archetype of a capitalist system in which securities markets play a central role. Moreover, these markets have had a high profile in some of the most dramatic moments in U.S. history, often in the context of crises. Dividends of Development: Securities Markets in the History of U.S. Capitalism, 1865-1922, explains how U.S. securities markets became central to the institutional fabric of U.S. capitalism. After the Civil War, these markets had a narrowly circumscribed relationship to the country's real economy, being largely dominated by railroad securities. Moreover, their role in the U.S. financial system was of limited significance given the relatively modest resources that financial institutions committed to investment in, and lending on, corporate securities. That situation was to undergo fundamental change from the Civil War through the end of World War 1 but the development of U.S. securities markets did not occur as a result of a smooth, or even, linear process. Instead, the book shows that the transformation of U.S. securities markets occurred through a process that was volatile and time-consuming, unscripted by powerful actors, and driven, above all else, by the dramatic but unstable character of the nation's economic development. These claims about the trajectory, the operation, and the underlying dynamics of the development of U.S. securities markets are brought together in a novel synthesis that portrays the historical evolution of securities markets in the United States as the "dividends" of the country's distinctive trajectory of economic development.