She shows how both Presidents Hoover and Roosevelt failed to understand the prosperity of the 1920s and heaped massive burdens on the country that more than offset the benefit of New Deal programs.

    Originally published in 1931, Only Yesterday has an exuberance and proximity to its subject—the Roaring Twenties in all its scandal and glory—that uniquely captures the feel of the era.

    Acclaimed by The Wall Street Journal as "brilliantly researched and written," the book tells the rich, panoramic story of four generations of Morgans and the powerful, secretive firms they spawned. It is the definitive account of the rise of the modern financial world. A gripping history of banking and the booms and busts that shaped the world on both sides of the Atlantic, The House of Morgan traces the trajectory of the J. P. Morgan empire from its obscure beginnings in Victorian London to the crash of 1987. Ron Chernow paints a fascinating portrait of the private saga of the Morgans and the rarefied world of the American and British elite in which they moved. Based on extensive interviews and access to the family and business archives, The House of Morgan is an investigative masterpiece, a compelling account of a remarkable institution and the men who ran it, and an essential book for understanding the money and power behind the major historical events of the last 150 years.

    Galbraith's prose has grace and wit, and he distills a good deal of sardonic fun from the whopping errors of the nation's oracles and the wondrous antics of the financial community." Now, with the stock market riding historic highs, the celebrated economist returns with new insights on the legacy of our past and the consequences of blind optimism and power plays within the financial community.

    It is the story of the men who built the transcontinental railroad—the investors who risked their businesses and money; the enlightened politicians who understood its importance; the engineers and surveyors who risked, and sometimes lost, their lives; and the Irish and Chinese immigrants, the defeated Confederate soldiers, and the other laborers who did the backbreaking and dangerous work on the tracks.The U.S. government pitted two companies—the Union Pacific and the Central Pacific Railroads—against each other in a race for funding, encouraging speed over caution. Locomotives, rails, and spikes were shipped from the East through Panama or around South America to the West or lugged across the country to the Plains. In Ambrose's hands, this enterprise, with its huge expenditure of brainpower, muscle, and sweat, comes vibrantly to life.

    By exploring the ecological and economic changes that made Chicago America's most dynamic city and the Great West its hinterland, Mr. Cronon opens a new window onto our national past. This is the story of city and country becoming ever more tightly bound in a system so powerful that it reshaped the American landscape and transformed American culture. The world that emerged is our own.Winner of the Chicago Tribune Heartland Prize

    Today, the Fed is the bedrock of the financial landscape, yet the fight to create it was so protracted and divisive that it seems a small miracle that it was ever established. For nearly a century, America, alone among developed nations, refused to consider any central or organizing agency in its financial system. Americans’ mistrust of big government and of big banks—a legacy of the country’s Jeffersonian, small-government traditions—was so widespread that modernizing reform was deemed impossible. Each bank was left to stand on its own, with no central reserve or lender of last resort. The real-world consequences of this chaotic and provincial system were frequent financial panics, bank runs, money shortages, and depressions. By the first decade of the twentieth century, it had become plain that the outmoded banking system was ill equipped to finance America’s burgeoning industry. But political will for reform was lacking. It took an economic meltdown, a high-level tour of Europe, and—improbably—a conspiratorial effort by vilified captains of Wall Street to overcome popular resistance. Finally, in 1913, Congress conceived a federalist and quintessentially American solution to the conflict that had divided bankers, farmers, populists, and ordinary Americans, and enacted the landmark Federal Reserve Act.Roger Lowenstein—acclaimed financial journalist and bestselling author of When Genius Failed and The End of Wall Street—tells the drama-laden story of how America created the Federal Reserve, thereby taking its first steps onto the world stage as a global financial power. America’s Bank showcases Lowenstein at his very finest: illuminating complex financial and political issues with striking clarity, infusing the debates of our past with all the gripping immediacy of today, and painting unforgettable portraits of Gilded Age bankers, presidents, and politicians.Lowenstein focuses on the four men at the heart of the struggle to create the Federal Reserve. These were Paul Warburg, a refined, German-born financier, recently relocated to New York, who was horrified by the primitive condition of America’s finances; Rhode Island’s Nelson W. Aldrich, the reigning power broker in the U.S. Senate and an archetypal Gilded Age legislator; Carter Glass, the ambitious, if then little-known, Virginia congressman who chaired the House Banking Committee at a crucial moment of political transition; and President Woodrow Wilson, the academician-turned-progressive-politician who forced Glass to reconcile his deep-seated differences with bankers and accept the principle (anathema to southern Democrats) of federal control. Weaving together a raucous era in American politics with a storied financial crisis and intrigue at the highest levels of Washington and Wall Street, Lowenstein brings the beginnings of one of the country’s most crucial institutions to vivid and unforgettable life. Readers of this gripping historical narrative will wonder whether they’re reading about one hundred years ago or the still-seething conflicts that mark our discussions of banking and politics today.

    Halberstam offers portraits of not only the titans of the age: Eisenhower Dulles, Oppenheimer, MacArthur, Hoover, and Nixon, but also of Harley Earl, who put fins on cars; Dick and Mac McDonald and Ray Kroc, who mass-produced the American hamburger; Kemmons Wilson, who placed his Holiday Inns along the nation's roadsides; U-2 pilot Gary Francis Powers; Grace Metalious, who wrote Peyton Place; and "Goody" Pincus, who led the team that invented the Pill.A NEW YORK TIMES BESTSELLER

    What we may not realize is that the United States was born out of debt. After the Revolution, the brilliant Alexander Hamilton was less interested in paying down the Revolutionary war debt than in using it to create a vibrant national economy. If it is not excessive, he declared, a national debt will be to us a national blessing.In a fascinating narrative brimming with colorful characters, historical accidents, and American ingenuity, business historian John Steele Gordon leads us on a tour of an American institution whose largely unknown story has been integrally entwined with our country's destiny. At key points in U.S. history, Gordon shows how the national debt has been a potent instrument of fiscal policy in keeping the world safe for democracy.But how much debt is too much? At a time when we despair of balancing even a single year's budget, Hamilton's Blessing provides much needed perspective -- and hope.

    Constitution was amended to restrict one of America’s favorite pastimes: drinking alcoholic beverages. From its start, America has been awash in drink. The sailing vessel that brought John Winthrop to the shores of the New World in 1630 carried more beer than water. By the 1820s, liquor flowed so plentifully it was cheaper than tea. That Americans would ever agree to relinquish their booze was as improbable as it was astonishing. Yet we did, and Last Call is Daniel Okrent’s dazzling explanation of why we did it, what life under Prohibition was like, and how such an unprecedented degree of government interference in the private lives of Americans changed the country forever. Writing with both wit and historical acuity, Okrent reveals how Prohibition marked a confluence of diverse forces: the growing political power of the women’s suffrage movement, which allied itself with the antiliquor campaign; the fear of small-town, native-stock Protestants that they were losing control of their country to the immigrants of the large cities; the anti-German sentiment stoked by World War I; and a variety of other unlikely factors, ranging from the rise of the automobile to the advent of the income tax. Through it all, Americans kept drinking, going to remarkably creative lengths to smuggle, sell, conceal, and convivially (and sometimes fatally) imbibe their favorite intoxicants. Last Call is peopled with vivid characters of an astonishing variety: Susan B. Anthony and Billy Sunday, William Jennings Bryan and bootlegger Sam Bronfman, Pierre S. du Pont and H. L. Mencken, Meyer Lansky and the incredible—if long-forgotten—federal official Mabel Walker Willebrandt, who throughout the twenties was the most powerful woman in the country. (Perhaps most surprising of all is Okrent’s account of Joseph P. Kennedy’s legendary, and long-misunderstood, role in the liquor business.) It’s a book rich with stories from nearly all parts of the country. Okrent’s narrative runs through smoky Manhattan speakeasies, where relations between the sexes were changed forever; California vineyards busily producing “sacramental” wine; New England fishing communities that gave up fishing for the more lucrative rum-running business; and in Washington, the halls of Congress itself, where politicians who had voted for Prohibition drank openly and without apology. Last Call is capacious, meticulous, and thrillingly told. It stands as the most complete history of Prohibition ever written and confirms Daniel Okrent’s rank as a major American writer.

    Featuring a mosaic of memories from politicians, businessmen, artists, and writers, from those who were just kids to those who remember losing a fortune, Hard Times is not only a gold mine of information but a fascinating interplay of memory and fact, revealing how the Depression affected the lives of those who experienced it firsthand.

    But how did this image arise and what exactly does it mean? In Ramp Hollow, Steven Stoll launches an original investigation into the history of Appalachia and its place in U.S. history, with a special emphasis on how generations of its inhabitants lived, worked, survived, and depended on natural resources held in common.Ramp Hollow traces the rise of the Appalachian homestead and how its self-sufficiency resisted dependence on money and the industrial society arising elsewhere in the United States--until, beginning in the nineteenth century, extractive industries kicked off a "scramble for Appalachia" that left struggling homesteaders dispossessed of their land. As the men disappeared into coal mines and timber camps, and their families moved into shantytowns or deeper into the mountains, the commons of Appalachia were, in effect, enclosed, and the fate of the region was sealed.Ramp Hollow takes a provocative look at Appalachia, and the workings of dispossession around the world, by upending our notions about progress and development. Stoll ranges widely from literature to history to economics in order to expose a devastating process whose repercussions we still feel today.

    At the heart of the story is Barry Goldwater, the renegade Republican from Arizona who loathed federal government, despised liberals, and mocked “peaceful coexistence” with the USSR. Perlstein's narrative shines a light on a whole world of conservatives and their antagonists, including William F. Buckley, Nelson Rockefeller, and Bill Moyers. Vividly written, Before the Storm is an essential book about the 1960s.

    American Colossus: The Triumph of Capitalism, 1865-1900

    Bankers and politicians alike seized upon the situation as evidence that social liberalism, which New York famously exemplified, was doomed to failure--and promised apocalyptic scenarios if the city didn't fire thousands of workers, freeze wages, and slash social services.In this vivid, gripping account, historian Kim Phillips-Fein tells the remarkable story of the crisis that engulfed the city, forever transforming the largest metropolis in the United States and reshaping ideas about government throughout the country. In doing so, she brings to life a radically different New York, the legendarily decrepit city of the 1970s. Drawing on never-before-used archival sources as well as interviews with key players in the crisis, Phillips-Fein guides us through the hairpin turns and sudden reversals that brought New York City to the edge of bankruptcy--and kept it from going over. At once a sweeping history of some of the most tumultuous times in the city's past, a colorful portrait of the unwieldy mechanics of municipal government, and an origin story of the politics of austerity, Fear City is essential reading for anyone seeking to understand the resurgent fiscal conservatism of today.