This benchmark volume addresses the debate over the effects of early industrialization on standards of living during the decades before the Civil War. Its contributors demonstrate that the aggregate antebellum economy was growing faster than any other large economy had grown before. Despite the dramatic economic growth and rise in income levels, questions remain as to the general quality of life during this era. Was the improvement in income widely shared? How did economic growth affect the nature of work? Did higher levels of income lead to improved health and longevity? The authors address these questions by analyzing new estimates of labor force participation, real wages, and productivity, as well as of the distribution of income, height, and nutrition.
cancer n. any malignant tumor . . . Metastasis may occur via the bloodstream or the lymphatic channels or across body cavities . . . setting up secondary tumors . . . Each individual primary tumor has its own pattern . . . There are probably many causative factors . . . Treatment. . . depends on the type of tumor, the site of the primary tumor and the extent of the spread. (Oxford Concise Medical Dictionary 1996, 97) Let us begin by stating the obvious. Acts of organized violence are not necessarily of human nature, but they are endogenous events arising within the an intrinsic part evolution of complex systems of social interaction. To be sure, all wars have features in common - people are killed and property is destroyed - but in their origin wars are likely to be at least as different as the social structures from which they arise. Consequently, it is unlikely that there can be a simple theory of the causes of war or the maintenance of peace. The fact that wars are historical events need not discourage us. On the contrary, we should focus our understanding of the dimensions of each conflict, or classes of conflict, on the conjuncture of causes at hand. It follows that the study of conflict must be an interdisciplinary one. It is or a penchant for eclecticism that leads to that conclusion, but the not humility multi-dimensionality of war itself.
What role did economics play in leading the United States into the Civil War in the 1860s, and how did the war affect the economies of the North and the South? Tariffs, Blockades, and Inflation uses contemporary economic analyses such as supply and demand, modern market theory, and the economics of politics to interpret events of the Civil War. Simplifying the sometimes complex intricacies of the subject matter, Thornton and Ekelund have penned a nontechnical primer that is jargon-free and accessible. Tariffs, Blockades, and Inflation also takes a comprehensive approach to its topic. It offers a cohesive and a persuasive explanation of the how, what, and why behind the many factors at work on both sides of the contest. While most books only delve into a particular aspect of the war, this title effectively bridges the gap by offering an all-encompassing, yet relatively brief, introduction to the essential economics of the Civil War. This book starts out with a look at the reasons for the beginning of the Civil War, including explaining why the war began when it did. It then examines the economic realities in both the North and South. Also covered are the different financial strategies implemented by both the Union and the Confederacy to fund the war and the reasons behind what ultimately led to Southern defeat. Finally, the economic effect of Reconstruction is discussed, including the impact it had on the former slave population. Thornton and Ekelund have contributed an overdue examination of the Civil War that will impart to students a modern way to better comprehend the conflict. Tariffs, Blockades, and Inflation offers fresh, penetrating insights into this pivotal event in American history.
What would separate Union and Confederate countries look like if the South had won the Civil War? In fact, this was something that southern secessionists actively debated. Imagining themselves as nation builders, they understood the importance of a plan for the economic structure of the Confederacy. The traditional view assumes that Confederate slave-based agrarianism went hand in hand with a natural hostility toward industry and commerce. Turning conventional wisdom on its head, John Majewski's analysis finds that secessionists strongly believed in industrial development and state-led modernization. They blamed the South's lack of development on Union policies of discriminatory taxes on southern commerce and unfair subsidies for northern industry. Majewski argues that Confederates' opposition to a strong central government was politically tied to their struggle against northern legislative dominance. Once the Confederacy was formed, those who had advocated states' rights in the national legislature in order to defend against northern political dominance quickly came to support centralized power and a strong executive for war making and nation building.
How America's high standard of living came to be and why future growth is under threat In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.
This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.
This is a critical survey of contemporary historical research into the connection between the American Civil War and the long term Economic Growth of the United States. The central focus is on the methods used by economic historians to quantify the economic effects of drastic changes in taxation, government borrowing, and military expenditure, the destruction of human and physical capital, and the demise of slavery, which resulted from the war.
In this book Professor Roger Ransom examines the economic and political factors that led to the attempt by Southerners to dissolve the Union in 1860, and the equally determined effort of Northerners to preserve it. Ransom argues that the system of capitalist slavery in the South not only "caused" the Civil War by producing tensions that could not be resolved by compromise; it also played a crucial role in the outcome of that war by crippling the southern war effort at the same time that emancipation became a unifying issue for the North. Ransom also carefully examines the impact that four years of war and the emancipation of slaves had both on the defeated South and the victorious North. -- From publisher's description.
While slavery is often at the heart of debates over the causes of the Civil War, historians are not agreed on precisely what aspect of slavery-with its various social, economic, political, cultural, and moral ramifications-gave rise to the sectional rift.
“Captivating . . . [Lowenstein] makes what subsequently occurred at Treasury and on Wall Street during the early 1860s seem as enthralling as what transpired on the battlefield or at the White House.” —Harold Holzer, Wall Street Journal “Ways and Means, an account of the Union’s financial policies, examines a subject long overshadowed by military narratives . . . Lowenstein is a lucid stylist, able to explain financial matters to readers who lack specialized knowledge.” —Eric Foner, New York Times Book Review From renowned journalist and master storyteller Roger Lowenstein, a revelatory financial investigation into how Lincoln and his administration used the funding of the Civil War as the catalyst to centralize the government and accomplish the most far-reaching reform in the country’s history Upon his election to the presidency, Abraham Lincoln inherited a country in crisis. Even before the Confederacy’s secession, the United States Treasury had run out of money. The government had no authority to raise taxes, no federal bank, no currency. But amid unprecedented troubles Lincoln saw opportunity—the chance to legislate in the centralizing spirit of the “more perfect union” that had first drawn him to politics. With Lincoln at the helm, the United States would now govern “for” its people: it would enact laws, establish a currency, raise armies, underwrite transportation and higher education, assist farmers, and impose taxes for them. Lincoln believed this agenda would foster the economic opportunity he had always sought for upwardly striving Americans, and which he would seek in particular for enslaved Black Americans. Salmon Chase, Lincoln’s vanquished rival and his new secretary of the Treasury, waged war on the financial front, levying taxes and marketing bonds while desperately battling to contain wartime inflation. And while the Union and Rebel armies fought increasingly savage battles, the Republican-led Congress enacted a blizzard of legislation that made the government, for the first time, a powerful presence in the lives of ordinary Americans. The impact was revolutionary. The activist 37th Congress legislated for homesteads and a transcontinental railroad and involved the federal government in education, agriculture, and eventually immigration policy. It established a progressive income tax and created the greenback—paper money. While the Union became self-sustaining, the South plunged into financial free fall, having failed to leverage its cotton wealth to finance the war. Founded in a crucible of anticentralism, the Confederacy was trapped in a static (and slave-based) agrarian economy without federal taxing power or other means of government financing, save for its overworked printing presses. This led to an epic collapse. Though Confederate troops continued to hold their own, the North’s financial advantage over the South, where citizens increasingly went hungry, proved decisive; the war was won as much (or more) in the respective treasuries as on the battlefields. Roger Lowenstein reveals the largely untold story of how Lincoln used the urgency of the Civil War to transform a union of states into a nation. Through a financial lens, he explores how this second American revolution, led by Lincoln, his cabinet, and a Congress studded with towering statesmen, changed the direction of the country and established a government of the people, by the people, and for the people.
