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Author: Alasdair Roberts
Publisher: Cornell University Press
ISBN: 0801464676
Category : History
Languages : en
Pages : 265
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Book Description
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.
Author: Alasdair Roberts
Publisher: Cornell University Press
ISBN: 0801464676
Category : History
Languages : en
Pages : 265
Get Book Here
Book Description
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.
Author: Andrew H. Browning
Publisher: University of Missouri Press
ISBN: 0826274250
Category : History
Languages : en
Pages : 451
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Book Description
The Panic of 1819 tells the story of the first nationwide economic collapse to strike the United States. Much more than a banking crisis or real estate bubble, the Panic was the culmination of an economic wave that rolled through the United States, forming before the War of 1812, cresting with the land and cotton boom of 1818, and crashing just as the nation confronted the crisis over slavery in Missouri. The Panic introduced Americans to the new phenomenon of boom and bust, changed the country's attitudes towards wealth and poverty, spurred the political movement that became Jacksonian Democracy, and helped create the sectional divide that would lead to the Civil War. Although it stands as one of the turning points of American history, few Americans today have heard of the Panic of 1819, with the result that we continue to ignore its lessons—and repeat its mistakes.
Author: Murray N Rothbard
Publisher:
ISBN: 9781639235285
Category : Social Science
Languages : en
Pages : 0
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Book Description
This book is an analysis of the causes of the Great Depression of 1929. The author concludes that the Depression was caused not by laissez-faire capitalism, but by government intervention in the economy. The author argues that the Hoover administration violated the tradition of previous American depressions by intervening in an unprecedented way and that the result was a disastrous prolongation of unemployment and depression so that a typical business cycle became a lingering disease.
Author: Murray Newton Rothbard
Publisher: Ludwig von Mises Institute
ISBN: 1610163702
Category : Depressions
Languages : en
Pages : 286
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Book Description
Author: Walter Friedman
Publisher: Princeton University Press
ISBN: 0691159114
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
A gripping history of the pioneers who sought to use science to predict financial markets The period leading up to the Great Depression witnessed the rise of the economic forecasters, pioneers who sought to use the tools of science to predict the future, with the aim of profiting from their forecasts. This book chronicles the lives and careers of the men who defined this first wave of economic fortune tellers, men such as Roger Babson, Irving Fisher, John Moody, C. J. Bullock, and Warren Persons. They competed to sell their distinctive methods of prediction to investors and businesses, and thrived in the boom years that followed World War I. Yet, almost to a man, they failed to predict the devastating crash of 1929. Walter Friedman paints vivid portraits of entrepreneurs who shared a belief that the rational world of numbers and reason could tame--or at least foresee--the irrational gyrations of the market. Despite their failures, this first generation of economic forecasters helped to make the prediction of economic trends a central economic activity, and shed light on the mechanics of financial markets by providing a range of statistics and information about individual firms. They also raised questions that are still relevant today. What is science and what is merely guesswork in forecasting? What motivates people to buy forecasts? Does the act of forecasting set in motion unforeseen events that can counteract the forecast made? Masterful and compelling, Fortune Tellers highlights the risk and uncertainty that are inherent to capitalism itself.
Author: Dale Maharidge
Publisher: Univ of California Press
ISBN: 0520274512
Category : Business & Economics
Languages : en
Pages : 276
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Book Description
"Updated edition with a new preface and afterword"--Cover.
Author: Marc Favreau
Publisher: Little, Brown Books for Young Readers
ISBN: 031654583X
Category : Juvenile Nonfiction
Languages : en
Pages : 256
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Book Description
The incredible true story of how real people weathered one of the most turbulent periods in American history—the Great Depression—and emerged triumphant. From the sweeping consequences of the stock market crash to the riveting stories of individuals and communities caught up in a real American dystopia, discover how the country we live in today was built in response to a time when people from all walks of life fell victim to poverty, insecurity, and fear. Meet fascinating historical characters like Herbert Hoover, Franklin Delano and Eleanor Roosevelt, Frances Perkins, Dorothea Lange, Walter White, and Mary McLeod Bethune. See what life was like for regular Americans as the country went from the highs of the Roaring Twenties to the lows of the Great Depression, before bouncing back again during World War II. Explore pivotal scenes such as the creation of the New Deal, life in the Dust Bowl, the sit-down strikes in Michigan, the Scottsboro case, and the rise of Father Coughlin. Packed with photographs and firsthand accounts, and written with a keen understanding of the upheaval of the 1930s, Crash shares the incredible story of how America survived—and, ultimately, thrived.
Author: Murray Newton Rothbard
Publisher: Ludwig von Mises Institute
ISBN: 1610161378
Category : Business & Economics
Languages : en
Pages : 412
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Book Description
Applied Austrian economics doesn't get better than this. Murray N. Rothbard's America's Great Depression is a staple of modern economic literature and crucial for understanding a pivotal event in American and world history. The book remains canonical today because the debate is still very alive. This book applies Austrian business cycle theory to understanding the onset of the 1929 Great Depression. Rothbard first summarizes the Austrian theory and offers a criticism of competing theories, including the views of Keynes. Rothbard then considers Federal Reserve policy in the 1920s, showing its inflationary character. The influence of Benjamin Strong, the Governor of the New York Federal Reserve Bank, was especially important. In part, his expansionary policy was motivated by his desire to help Britain sustain the pound. Strong was close friends with Montagu Norman, the Governor of the Bank of England. After the 1929 crash, Herbert Hoover followed an interventionist policy that prefigured the New Deal. He favored keeping wage rates high and thus contributed to rising unemployment. Against the popular stereotype, Rothbard shows that Hoover was not a partisan of laissez-faire.
Author: Eric Rauchway
Publisher: Oxford University Press
ISBN: 0199716919
Category : History
Languages : en
Pages : 161
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Book Description
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. Rauchway first describes how the roots of the Great Depression lay in America's post-war economic policies--described as "laissez-faire with a vengeance"--which in effect isolated our nation from the world economy just when the world needed the United States most. He shows how the magnitude of the resulting economic upheaval, and the ineffectiveness of the old ways of dealing with financial hardships, set the stage for Roosevelt's vigorous (and sometimes unconstitutional) Depression-fighting policies. Indeed, Rauchway stresses that the New Deal only makes sense as a response to this global economic disaster. The book examines a key sampling of New Deal programs, ranging from the National Recovery Agency and the Securities and Exchange Commission, to the Public Works Administration and Social Security, revealing why some worked and others did not. In the end, Rauchway concludes, it was the coming of World War II that finally generated the political will to spend the massive amounts of public money needed to put Americans back to work. And only the Cold War saw the full implementation of New Deal policies abroad--including the United Nations, the World Bank, and the International Monetary Fund. Today we can look back at the New Deal and, for the first time, see its full complexity. Rauchway captures this complexity in a remarkably short space, making this book an ideal introduction to one of the great policy revolutions in history. About the Series: Oxford's Very Short Introductions offers concise and original introductions to a wide range of subjects--from Islam to Sociology, Politics to Classics, and Literary Theory to History. Not simply a textbook of definitions, each volume provides trenchant and provocative--yet always balanced and complete--discussions of the central issues in a given topic. Every Very Short Introduction gives a readable evolution of the subject in question, demonstrating how it has developed and influenced society. Whatever the area of study, whatever the topic that fascinates the reader, the series has a handy and affordable guide that will likely prove indispensable.
Author: Cheryl Lynn Greenberg
Publisher: Rowman & Littlefield Publishers
ISBN: 1442200510
Category : History
Languages : en
Pages : 201
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Book Description
The Great Depression hit Americans hard, but none harder than African Americans and the working poor. To Ask for an Equal Chance explores black experiences during this period and the intertwined challenges posed by race and class. "Last hired, first fired," black workers lost their jobs at twice the rate of whites, and faced greater obstacles in their search for economic security. Black workers, who were generally urban newcomers, impoverished and lacking industrial skills, were already at a disadvantage. These difficulties were intensified by an overt, and in the South legally entrenched, system of racial segregation and discrimination. New federal programs offered hope as they redefined government's responsibility for its citizens, but local implementation often proved racially discriminatory. As Cheryl Lynn Greenberg makes clear, African Americans were not passive victims of economic catastrophe or white racism; they responded to such challenges in a variety of political, social, and communal ways. The book explores both the external realities facing African Americans and individual and communal responses to them. While experiences varied depending on many factors including class, location, gender and community size, there are also unifying and overarching realities that applied universally. To Ask for an Equal Chance straddles the particular, with examinations of specific communities and experiences, and the general, with explorations of the broader effects of racism, discrimination, family, class, and political organizing.
