Book picks similar to
The Founders and Finance: How Hamilton, Gallatin, and Other Immigrants Forged a New Economy by Thomas K. McCraw
history
economics
american-history
finance
Hard Times: An Oral History of the Great Depression
Studs Terkel - 1970
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.
The Accidental Superpower: The Next Generation of American Preeminence and the Coming Global Disorder
Peter Zeihan - 2014
Empires were abolished and replaced by a global arrangement enforced by the U.S. Navy. With all the world's oceans safe for the first time in history, markets and resources were made available for everyone. Enemies became partners.We think of this system as normal - it is not. We live in an artificial world on borrowed time.In The Accidental Superpower, international strategist Peter Zeihan examines how the hard rules of geography are eroding the American commitment to free trade; how much of the planet is aging into a mass retirement that will enervate markets and capital supplies; and how, against all odds, it is the ever-ravenous American economy that - alone among the developed nations - is rapidly approaching energy independence. Combined, these factors are doing nothing less than overturning the global system and ushering in a new (dis)order. For most, that is a disaster-in-waiting, but not for the Americans. The shale revolution allows Americans to sidestep an increasingly dangerous energy market. Only the United States boasts a youth population large enough to escape the sucking maw of global aging. Most important, geography will matter more than ever in a de-globalizing world, and America's geography is simply sublime.
Liberty's Exiles: American Loyalists in the Revolutionary World
Maya Jasanoff - 2011
Patriots celebrated their departure and the confirmation of U.S. independence. But for tens of thousands of American loyalists, the British evacuation spelled worry, not jubilation. What would happen to them in the new United States? Would they and their families be safe? Facing grave doubts about their futures, some sixty thousand loyalists—one in forty members of the American population—decided to leave their homes and become refugees elsewhere in the British Empire. They sailed for Britain, for Canada, for Jamaica, and for the Bahamas; some ventured as far as Sierra Leone and India. Wherever they went, the voyage out of America was a fresh beginning, and it carried them into a dynamic if uncertain new world.A groundbreaking history of the revolutionary era, Liberty’s Exiles tells the story of this remarkable global diaspora. Through painstaking archival research and vivid storytelling, award-winning historian Maya Jasanoff re-creates the journeys of ordinary individuals whose lives were overturned by extraordinary events. She tells of refugees like Elizabeth Johnston, a young mother from Georgia, who spent nearly thirty years as a migrant, searching for a home in Britain, Jamaica, and Canada. And of David George, a black preacher born into slavery, who found freedom and faith in the British Empire, and eventually led his followers to seek a new Jerusalem in Sierra Leone. Mohawk leader Joseph Brant resettled his people under British protection in Ontario, while the adventurer William Augustus Bowles tried to shape a loyalist Creek state in Florida. For all these people and more, it was the British Empire—not the United States—that held the promise of “life, liberty, and the pursuit of happiness.” Yet as they dispersed across the empire, the loyalists also carried things from their former homes, revealing an enduring American influence on the wider British world.Ambitious, original, and personality-filled, Liberty’s Exiles is at once an intimate narrative history and a provocative new analysis—a book that explores an unknown dimension of America’s founding to illuminate the meanings of liberty itself.
The Faiths of Our Fathers: What America's Founders Really Believed
Alf J. Mapp Jr. - 1955
Did our founders advocate Christianity or atheism? In The Faiths of Our Fathers, widely acclaimed historian Alf J. Mapp, Jr. cuts through the historical uncertainty to accurately portray the religious beliefs of eleven of America's founding fathers, including John Adams, Benjamin Franklin, Thomas Jefferson, and James Madison. He discovers men with religious beliefs as diverse as their political opinions. These profiles shed light on not only the lives and times of the revolutionary generation but also the role of religion in public life throughout American history.
Democracy in Chains: The Deep History of the Radical Right's Stealth Plan for America
Nancy MacLean - 2017
The capitalist radical right has been working not simply to change who rules, but to fundamentally alter the rules of democratic governance. But billionaires did not launch this movement; a white intellectual in the embattled Jim Crow South did. Democracy in Chains names its true architect—the Nobel Prize-winning political economist James McGill Buchanan—and dissects the operation he and his colleagues designed over six decades to alter every branch of government to disempower the majority.In a brilliant and engrossing narrative, Nancy MacLean shows how Buchanan forged his ideas about government in a last gasp attempt to preserve the white elite’s power in the wake of Brown v. Board of Education. In response to the widening of American democracy, he developed a brilliant, if diabolical, plan to undermine the ability of the majority to use its numbers to level the playing field between the rich and powerful and the rest of us. Corporate donors and their right-wing foundations were only too eager to support Buchanan’s work in teaching others how to divide America into “makers” and “takers.” And when a multibillionaire on a messianic mission to rewrite the social contract of the modern world, Charles Koch, discovered Buchanan, he created a vast, relentless, and multi-armed machine to carry out Buchanan’s strategy. Without Buchanan's ideas and Koch's money, the libertarian right would not have succeeded in its stealth takeover of the Republican Party as a delivery mechanism. Now, with Mike Pence as Vice President, the cause has a longtime loyalist in the White House, not to mention a phalanx of Republicans in the House, the Senate, a majority of state governments, and the courts, all carrying out the plan. That plan includes harsher laws to undermine unions, privatizing everything from schools to health care and Social Security, and keeping as many of us as possible from voting. Based on ten years of unique research, Democracy in Chains tells a chilling story of right-wing academics and big money run amok. This revelatory work of scholarship is also a call to arms to protect the achievements of twentieth-century American self-government.
American Icon: Alan Mulally and the Fight to Save Ford Motor Company
Bryce G. Hoffman - 2012
With the auto industry careening toward ruin, Congress offered all three Detroit automakers a bailout. General Motors and Chrysler grabbed the taxpayer lifeline, but Ford decided to save itself. Under the leadership of charismatic CEO Alan Mulally, Ford had already put together a bold plan to unify its divided global operations, transform its lackluster product lineup, and overcome a dysfunctional culture of infighting, backstabbing, and excuses. It was an extraordinary risk, but it was the only way the Ford family—America’s last great industrial dynasty—could hold on to their company. Mulally and his team pulled off one of the greatest comebacks in business history. As the rest of Detroit collapsed, Ford went from the brink of bankruptcy to being the most profitable automaker in the world. American Icon is the compelling, behind-the-scenes account of that epic turnaround. On the verge of collapse, Ford went outside the auto industry and recruited Mulally—the man who had already saved Boeing from the deathblow of 9/11—to lead a sweeping restructuring of a company that had been unable to overcome decades of mismanagement and denial. Mulally applied the principles he developed at Boeing to streamline Ford’s inefficient operations, force its fractious executives to work together as a team, and spark a product renaissance in Dearborn. He also convinced the United Auto Workers to join his fight for the soul of American manufacturing. Bryce Hoffman reveals the untold story of the covert meetings with UAW leaders that led to a game-changing contract, Bill Ford’s battle to hold the Ford family together when many were ready to cash in their stock and write off the company, and the secret alliance with Toyota and Honda that helped prop up the American automotive supply base. In one of the great management narratives of our time, Hoffman puts the reader inside the boardroom as Mulally uses his celebrated Business Plan Review meetings to drive change and force Ford to deal with the painful realities of the American auto industry. Hoffman was granted unprecedented access to Ford’s top executives and top-secret company documents. He spent countless hours with Alan Mulally, Bill Ford, the Ford family, former executives, labor leaders, and company directors. In the bestselling tradition of Too Big to Fail and The Big Short, American Icon is narrative nonfiction at its vivid and colorful best.
13 Bankers: The Wall Street Takeover and the Next Financial Meltdown
Simon Johnson - 2010
Anchored by six megabanks—Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley—which together control assets amounting, astonishingly, to more than 60 percent of the country’s gross domestic product, these financial institutions (now more emphatically “too big to fail”) continue to hold the global economy hostage, threatening yet another financial meltdown with their excessive risk-taking and toxic “business as usual” practices. How did this come to be—and what is to be done? These are the central concerns of 13 Bankers, a brilliant, historically informed account of our troubled political economy. In 13 Bankers, Simon Johnson—one of the most prominent and frequently cited economists in America (former chief economist of the International Monetary Fund, Professor of Entrepreneurship at MIT, and author of the controversial “The Quiet Coup” in The Atlantic)—and James Kwak give a wide-ranging, meticulous, and bracing account of recent U.S. financial history within the context of previous showdowns between American democracy and Big Finance: from Thomas Jefferson to Andrew Jackson, from Theodore Roosevelt to Franklin Delano Roosevelt. They convincingly show why our future is imperiled by the ideology of finance (finance is good, unregulated finance is better, unfettered finance run amok is best) and by Wall Street’s political control of government policy pertaining to it. As the authors insist, the choice that America faces is stark: whether Washington will accede to the vested interests of an unbridled financial sector that runs up profits in good years and dumps its losses on taxpayers in lean years, or reform through stringent regulation the banking system as first and foremost an engine of economic growth. To restore health and balance to our economy, Johnson and Kwak make a radical yet feasible and focused proposal: reconfigure the megabanks to be “small enough to fail.” Lucid, authoritative, crucial for its timeliness, 13 Bankers is certain to be one of the most discussed and debated books of 2010.
The Hemingses of Monticello: An American Family
Annette Gordon-Reed - 2008
Now, historian and legal scholar Annette Gordon-Reed traces the Hemings family from its origins in Virginia in the 1700s to the family’s dispersal after Jefferson’s death in 1826.In the mid-1700s the English captain of a trading ship that made runs between England and the Virginia colony fathered a child by an enslaved woman living near Williamsburg. The woman, whose name is unknown and who is believed to have been born in Africa, was owned by the Eppeses, a prominent Virginia family. The captain, whose surname was Hemings, and the woman had a daughter. They named her Elizabeth.So begins The Hemingses of Monticello, Annette Gordon-Reed’s “riveting history” of the Hemings family, whose story comes to vivid life in this brilliantly researched and deeply moving work. Gordon-Reed, author of the highly acclaimed historiography Thomas Jefferson and Sally Hemings: An American Controversy, unearths startling new information about the Hemingses, Jefferson, and his white family. Although the book presents the most detailed and richly drawn portrait ever written of Sarah Hemings, better known by her nickname Sally, who bore seven children by Jefferson over the course of their thirty-eight-year liaison, The Hemingses of Monticello tells more than the story of her life with Jefferson and their children. The Hemingses as a whole take their rightful place in the narrative of the family’s extraordinary engagement with one of history’s most important figures.Not only do we meet Elizabeth Hemings—the family matriarch and mother to twelve children, six by John Wayles, a poor English immigrant who rose to great wealth in the Virginia colony—but we follow the Hemings family as they become the property of Jefferson through his marriage to Martha Wayles. The Hemings-Wayles children, siblings to Martha, played pivotal roles in the life at Jefferson’s estate.We follow the Hemingses to Paris, where James Hemings trained as a chef in one of the most prestigious kitchens in France and where Sally arrived as a fourteen-year-old chaperone for Jefferson’s daughter Polly; to Philadelphia, where James Hemings acted as the major domo to the newly appointed secretary of state; to Charlottesville, where Mary Hemings lived with her partner, a prosperous white merchant who left her and their children a home and property; to Richmond, where Robert Hemings engineered a plan for his freedom; and finally to Monticello, that iconic home on the mountain, from where most of Jefferson’s slaves, many of them Hemings family members, were sold at auction six months after his death in 1826.As The Hemingses of Monticello makes vividly clear, Monticello can no longer be known only as the home of a remarkable American leader, the author of the Declaration of Independence; nor can the story of the Hemingses, whose close blood ties to our third president have been expunged from history until very recently, be left out of the telling of America’s story. With its empathetic and insightful consideration of human beings acting in almost unimaginably difficult and complicated family circumstances, The Hemingses of Monticello is history as great literature. It is a remarkable achievement.
Goliath: The 100-Year War Between Monopoly Power and Democracy
Matt Stoller - 2019
A concentration of power, whether in the hands of a military dictator or a JP Morgan, was understood as autocratic and dangerous to individual liberty and democracy. This idea stretched back to the country’s founding. In the 1930s, people observed that the Great Depression was caused by financial concentration in the hands of a few whose misuse of their power induced a financial collapse. They drew on this tradition to craft the New Deal. In Goliath, Matt Stoller explains how authoritarianism and populism have returned to American politics for the first time in eighty years, as the outcome of the 2016 election shook our faith in democratic institutions. It has brought to the fore dangerous forces that many modern Americans never even knew existed. Today’s bitter recriminations and panic represent more than just fear of the future, they reflect a basic confusion about what is happening and the historical backstory that brought us to this moment. The true effects of populism, a shrinking middle class, and concentrated financial wealth are only just beginning to manifest themselves under the current administrations. The lessons of Stoller’s study will only grow more relevant as time passes. Building upon his viral article in The Atlantic, “How the Democrats Killed Their Populist Soul,” Stoller illustrates in rich detail how we arrived at this tenuous moment, and the steps we must take to create a new democracy.
Greenback: The Almighty Dollar and the Invention of America
Jason Goodwin - 2003
Paper money, invented in Boston in 1698, was a classic of American ingenuity-and American disregard for authority and tradition. With the wry and admiring eye of a modern Tocqueville, Jason Goodwin has written a biography of the dollar, giving us the story of its astonishing career through the wilds of American history. "Greenback" looks at the dollar over the years as a form of art, a kind of advertising, a reflection of American attitudes, and a builder of empires. Goodwin shows us how the dollar rolled out the frontier and peopled the Plains; how it erected the great cities; how it expressed the urges of democracy and opportunity. And, above all, Goodwin introduces us to the people who championed-or ambushed-the dollar over the years: presidents, artists, pioneers, and frontiersmen; bankers, shady and upright; safecrackers, crooks, and dreamers of every stripe. It's a vast and colorful cast of characters, who all agreed on one thing: getting the money right was the key to unlocking liberty and the pursuit of happiness."Greenback" delves into folklore and the development of printing, investigates wildcats and counterfeiters, explains why a buck is a buck and how Dixie got its name. Like Goodwin's "Lords of the Horizons," another story of empire, "Greenback" brings together an array of quirky detail and surprising-often hilarious-anecdote to tell the story of America through its best-beloved product.
The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century
Walter Scheidel - 2017
Tracing the global history of inequality from the Stone Age to today, Walter Scheidel shows that inequality never dies peacefully. Inequality declines when carnage and disaster strike and increases when peace and stability return. The Great Leveler is the first book to chart the crucial role of violent shocks in reducing inequality over the full sweep of human history around the world.Ever since humans began to farm, herd livestock, and pass on their assets to future generations, economic inequality has been a defining feature of civilization. Over thousands of years, only violent events have significantly lessened inequality. The "Four Horsemen" of leveling—mass-mobilization warfare, transformative revolutions, state collapse, and catastrophic plagues—have repeatedly destroyed the fortunes of the rich. Scheidel identifies and examines these processes, from the crises of the earliest civilizations to the cataclysmic world wars and communist revolutions of the twentieth century. Today, the violence that reduced inequality in the past seems to have diminished, and that is a good thing. But it casts serious doubt on the prospects for a more equal future.An essential contribution to the debate about inequality, The Great Leveler provides important new insights about why inequality is so persistent—and why it is unlikely to decline anytime soon.
The End of Alchemy: Money, Banking, and the Future of the Global Economy
Mervyn A. King - 2016
We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance.The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation.How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.
When the United States Spoke French: Five Refugees Who Shaped a Nation
François Furstenberg - 2014
When the United States Spoke French explores the republic’s formative years from the viewpoint of a distinguished circle of five Frenchmen taking refuge in America. When the French Revolution broke out, these men had been among its leaders. They were liberal aristocrats and ardent Anglophiles, convinced of the superiority of the British system of monarchy and constitution. They also idealized the new American republic, which seemed to them an embodiment of the Enlightenment ideals they celebrated. But soon the Revolutionary movement got ahead of them, and they found themselves chased across the Atlantic.François Furstenberg follows these five men—Charles-Maurice de Talleyrand-Périgord, Napoleon’s future foreign minister; theoristreformer Rochefoucauld, the duc de Liancourt; Louis-Marie Vicomte de Noailles; Moreau de Saint-Méry; and Constantin-François Chasseboeuf, Comte Volney—as they left their homes and families in France, crossed the Atlantic, and landed in Philadelphia—then America’s capital, its principal port, and by far its most cosmopolitan city and the home of the wealthiest merchants and financiers. The book vividly reconstructs their American adventures, following along as they integrated themselves into the city and its elite social networks, began speculating on backcountry lands, and eventually became enmeshed in Franco-American diplomacy. Through their stories, we see some of the most famous events of early American history in a new light, from the diplomatic struggles of the 1790s to the Haitian Revolution to the Louisiana Purchase in 1803.By the end of this period, the United States was on its way to becoming a major global power. Through this small circle of men, we find new ways to understand the connections between U.S. and world history, and gain fresh insight into American history’s most critical era. Beautifully written and brilliantly argued, When the United States Spoke French offers a fresh perspective on the tumultuous years of the young nation, when the first great republican experiments were put to the test.Lin-Manuel Miranda’s smash Broadway musical Hamilton has sparked new interest in the Revolutionary War and the Founding Fathers. In addition to Alexander Hamilton, the production also features George Washington, Thomas Jefferson, James Madison, Aaron Burr, Lafayette, and many more.
Eliza Hamilton: The Extraordinary Life and Times of the Wife of Alexander Hamilton
Tilar J. Mazzeo - 2018
Fans fell in love with Eliza Hamilton—Alexander Hamilton’s devoted wife—in Lin-Manuel Miranda’s phenomenal musical Hamilton. But they don’t know her full story. A strong pioneer woman, a loving sister, a caring mother, and in her later years, a generous philanthropist, Eliza had many sides—and this fascinating biography brings her multi-faceted personality to vivid life. Eliza Hamilton: The Extraordinary Life and Times of The Wife of Alexander Hamilton follows Eliza through her early years in New York, into the ups and downs of her married life with Alexander, beyond the aftermath of his tragic murder, and finally to her involvement in many projects that cemented her legacy as one of the unsung heroes of our nation’s early days. Featuring Mazzeo’s “impeccable research and crafting” (Library Journal), and perfect for fans of the richly detailed historical books by Ron Chernow and Erik Larson, Eliza Hamilton is the captivating account of the woman behind the famous man.
Crashed: How a Decade of Financial Crises Changed the World
Adam Tooze - 2018
In fact it was a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. In the United States and Europe, it caused a fundamental reconsideration of capitalist democracy, eventually leading to the war in the Ukraine, the chaos of Greece, Brexit, and Trump.It was the greatest crisis to have struck Western societies since the end of the Cold War, but was it inevitable? And is it over? Crashed is a dramatic new narrative resting on original themes: the haphazard nature of economic development and the erratic path of debt around the world; the unseen way individual countries and regions are linked together in deeply unequal relationships through financial interdependence, investment, politics, and force; the ways the financial crisis interacted with the spectacular rise of social media, the crisis of middle-class America, the rise of China, and global struggles over fossil fuels.Finally, Tooze asks, given this history, what now are the prospects for a liberal, stable, and coherent world order?