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The Impact of the Economic Crisis on the U.S. Postal Service

Author: United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Subcommittee on Federal Financial Management, Government Information, Federal Services, and International Security
Publisher:
ISBN:
Category : Postal service
Languages : en
Pages : 100

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Addressing the US Postal Service's Financial Crisis

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The U.S. Postal Service in Crisis

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How the Post Office Created America

Author: Winifred Gallagher
Publisher: Penguin
ISBN: 0399564039
Category : History
Languages : en
Pages : 336

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Book Description
A masterful history of a long underappreciated institution, How the Post Office Created America examines the surprising role of the postal service in our nation’s political, social, economic, and physical development. The founders established the post office before they had even signed the Declaration of Independence, and for a very long time, it was the U.S. government’s largest and most important endeavor—indeed, it was the government for most citizens. This was no conventional mail network but the central nervous system of the new body politic, designed to bind thirteen quarrelsome colonies into the United States by delivering news about public affairs to every citizen—a radical idea that appalled Europe’s great powers. America’s uniquely democratic post powerfully shaped its lively, argumentative culture of uncensored ideas and opinions and made it the world’s information and communications superpower with astonishing speed. Winifred Gallagher presents the history of the post office as America’s own story, told from a fresh perspective over more than two centuries. The mandate to deliver the mail—then “the media”—imposed the federal footprint on vast, often contested parts of the continent and transformed a wilderness into a social landscape of post roads and villages centered on post offices. The post was the catalyst of the nation’s transportation grid, from the stagecoach lines to the airlines, and the lifeline of the great migration from the Atlantic to the Pacific. It enabled America to shift from an agrarian to an industrial economy and to develop the publishing industry, the consumer culture, and the political party system. Still one of the country’s two major civilian employers, the post was the first to hire women, African Americans, and other minorities for positions in public life. Starved by two world wars and the Great Depression, confronted with the country’s increasingly anti-institutional mind-set, and struggling with its doubled mail volume, the post stumbled badly in the turbulent 1960s. Distracted by the ensuing modernization of its traditional services, however, it failed to transition from paper mail to email, which prescient observers saw as its logical next step. Now the post office is at a crossroads. Before deciding its future, Americans should understand what this grand yet overlooked institution has accomplished since 1775 and consider what it should and could contribute in the twenty-first century. Gallagher argues that now, more than ever before, the imperiled post office deserves this effort, because just as the founders anticipated, it created forward-looking, communication-oriented, idea-driven America.

Neither Snow Nor Rain

Author: Devin Leonard
Publisher: Open Road + Grove/Atlantic
ISBN: 0802189970
Category : History
Languages : en
Pages : 381

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“[The] book makes you care what happens to its main protagonist, the U.S. Postal Service itself. And, as such, it leaves you at the end in suspense.” —USA Today Founded by Benjamin Franklin, the United States Postal Service was the information network that bound far-flung Americans together, and yet, it is slowly vanishing. Critics say it is slow and archaic. Mail volume is down. The workforce is shrinking. Post offices are closing. In Neither Snow Nor Rain, journalist Devin Leonard tackles the fascinating, centuries-long history of the USPS, from the first letter carriers through Franklin’s days, when postmasters worked out of their homes and post roads cut new paths through the wilderness. Under Andrew Jackson, the post office was molded into a vast patronage machine, and by the 1870s, over seventy percent of federal employees were postal workers. As the country boomed, USPS aggressively developed new technology, from mobile post offices on railroads and airmail service to mechanical sorting machines and optical character readers. Neither Snow Nor Rain is a rich, multifaceted history, full of remarkable characters, from the stamp-collecting FDR, to the revolutionaries who challenged USPS’s monopoly on mail, to the renegade union members who brought the system—and the country—to a halt in the 1970s. “Delectably readable . . . Leonard’s account offers surprises on almost every other page . . . [and] delivers both the triumphs and travails with clarity, wit and heart.” —Chicago Tribune

Finding Solutions to the Challenges Facing the U.S. Postal Service

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The Financial Crisis Inquiry Report, Authorized Edition

Author: United States. Financial Crisis Inquiry Commission
Publisher: Public Affairs
ISBN: 1610390415
Category : Business & Economics
Languages : en
Pages : 578

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Book Description
Examines the causes of the financial crisis that began in 2008 and reveals the weaknesses found in financial regulation, excessive borrowing, and breaches in accountability.

Activities of the Committee on Homeland Security and Governmental Affairs

Author: United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs
Publisher:
ISBN:
Category : Constitutional law
Languages : en
Pages : 204

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The Economic Effects Of 9/11

Author: Congressional Research Service Library o
Publisher:
ISBN: 9781410220653
Category : Business & Economics
Languages : en
Pages : 68

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Book Description
The tragedy of September 11, 2001 was so sudden and devastating that it may be difficult at this point in time to write dispassionately and objectively about its effects on the U.S. economy. This retrospective review will attempt such an undertaking. The loss of lives and property on 9/11 was not large enough to have had a measurable effect on the productive capacity of the United States even though it had a very significant localized effect on New York City and, to a lesser degree, on the greater Washington, D.C. area. Thus, for 9/11 to affect the economy it would have had to have affected the price of an important input, such as energy, or had an adverse effect on aggregate demand via such mechanisms as consumer and business confidence, a financial panic or liquidity crisis, or an international run on the dollar. It was initially thought that aggregate demand was seriously affected, for while the existing data showed that GDP growth was low in the first half of 2001, data published in October showed that GDP had contracted during the 3rd quarter. This led to the claim that "The terrorist attacks pushed a weak economy over the edge into an outright recession." We now know, based on revised data, this is not so. At the time of 9/11 the economy was in its third consecutive quarter of contraction; positive growth resumed in the 4th quarter. This would suggest that any effects from 9/11 on demand were short lived. While this may be true, several events took place before, on, and shortly after 9/11, that made recovery either more rapid than it might have been or made it possible to take place. First, the Federal Reserve had eased credit during the first half of 2001 to stimulate aggregate demand. The economy responds to policy changes with a lag in time. Thus, the public response may have been felt in the 4th quarter giving the appearance that 9/11 had only a limited effect. Second, the Federal Reserve on and immediately after 9/11 took appropriate action to avert a financial panic and liquidity shortage. This was supplemented by support from foreign central banks to shore up the dollar in world markets and limited the contagion of 9/11 from spreading to other national economies. Nevertheless, U.S. trade with other countries, especially Canada, was disrupted. While oil prices spiked briefly, they quickly returned to their pre-9/11 levels. Thus, it can be argued, timely action contained the short run economic effects of 9/11 on the overall economy. Over the longer run 9/11 will adversely affect U.S. productivity growth because resources are being and will be used to ensure the security of production, distribution, finance, and communication.

Financial Crises Explanations, Types, and Implications

Author: Mr.Stijn Claessens
Publisher: International Monetary Fund
ISBN: 1475561008
Category : Business & Economics
Languages : en
Pages : 66

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Book Description
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.