American Economic Growth and Standards of Living before the Civil War PDF Download

Author: Robert E. Gallman
Publisher: University of Chicago Press
ISBN: 0226279472
Category : Business & Economics
Languages : en
Pages : 410

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Book Description
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.

Author: Robert J. Gordon
Publisher: Princeton University Press
ISBN: 1400888956
Category : Business & Economics
Languages : en
Pages : 785

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Book Description
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.

Author: Peter H. Lindert
Publisher: Princeton University Press
ISBN: 0691178275
Category : Business & Economics
Languages : en
Pages : 420

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Book Description
A book that rewrites the history of American prosperity and inequality Unequal Gains offers a radically new understanding of the economic evolution of the United States, providing a complete picture of the uneven progress of America from colonial times to today. While other economic historians base their accounts on American wealth, Peter Lindert and Jeffrey Williamson focus instead on income—and the result is a bold reassessment of the American economic experience. America has been exceptional in its rising inequality after an egalitarian start, but not in its long-run growth. America had already achieved world income leadership by 1700, not just in the twentieth century as is commonly thought. Long before independence, American colonists enjoyed higher living standards than Britain—and America's income advantage today is no greater than it was three hundred years ago. But that advantage was lost during the Revolution, lost again during the Civil War, and lost a third time during the Great Depression, though it was regained after each crisis. In addition, Lindert and Williamson show how income inequality among Americans rose steeply in two great waves—from 1774 to 1860 and from the 1970s to today—rising more than in any other wealthy nation in the world. Unequal Gains also demonstrates how the widening income gaps have always touched every social group, from the richest to the poorest. The book sheds critical light on the forces that shaped American income history, and situates that history in a broad global context. Economic writing at its most stimulating, Unequal Gains provides a vitally needed perspective on who has benefited most from American growth, and why.

Author: Stephen Broadberry
Publisher: Cambridge University Press
ISBN: 1139448358
Category : History
Languages : en
Pages : 363

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Book Description
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.

Author: Robert A. Margo
Publisher: University of Chicago Press
ISBN: 0226505022
Category : Political Science
Languages : en
Pages : 214

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Book Description
Research by economists and economic historians has greatly expanded our knowledge of labor markets and real wages in the United States since the Civil War, but the period from 1820 to 1860 has been far less studied. Robert Margo fills this gap by collecting and analyzing the payroll records of civilians hired by the United States Army and the 1850 and 1860 manuscript federal Censuses of Social Statistics. New wage series are constructed for three occupational groups—common laborers, artisans, and white-collar workers—in each of the four major census regions—Northeast, Midwest, South Atlantic, and South Central—over the period 1820 to 1860, and also for California between 1847 and 1860. Margo uses these data, along with previously collected evidence on prices, to explore a variety of issues central to antebellum economic development. This volume makes a significant contribution to economic history by presenting a vast amount of previously unexamined data to advance the understanding of the history of wages and labor markets in the antebellum economy.

Author: Jefferson Cowie
Publisher: Princeton University Press
ISBN: 069117573X
Category : History
Languages : en
Pages : 286

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Book Description
How the New Deal was a unique historical moment and what this reveals about U.S. politics, economics, and culture Where does the New Deal fit in the big picture of American history? What does it mean for us today? What happened to the economic equality it once engendered? In The Great Exception, Jefferson Cowie provides new answers to these important questions. In the period between the Great Depression and the 1970s, he argues, the United States government achieved a unique level of equality, using its considerable resources on behalf of working Americans in ways that it had not before and has not since. If there is to be a comparable battle for collective economic rights today, Cowie argues, it needs to build on an understanding of the unique political foundation for the New Deal. Anyone who wants to come to terms with the politics of inequality in the United States will need to read The Great Exception.

Author: Heather Cox Richardson
Publisher: Harvard University Press
ISBN: 9780674059658
Category : History
Languages : en
Pages : 364

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Book Description
While fighting a war for the Union, the Republican party attempted to construct the world's most powerful and most socially advanced nation. Rejecting the common assumption that wartime domestic legislation was a series of piecemeal reactions to wartime necessities, Heather Cox Richardson argues that party members systematically engineered pathbreaking laws to promote their distinctive theory of political economy. Republicans were a dynamic, progressive party, the author shows, that championed a specific type of economic growth. They floated billions of dollars in bonds, developed a national currency and banking system, imposed income taxes and high tariffs, passed homestead legislation, launched the Union Pacific railroad, and eventually called for the end of slavery. Their aim was to encourage the economic success of individual Americans and to create a millennium for American farmers, laborers, and small capitalists. However, Richardson demonstrates, while Republicans were trying to construct a nation of prosperous individuals, they were laying the foundation for rapid industrial expansion, corporate corruption, and popular protest. They created a newly active national government that they determined to use only to promote unregulated economic development. Unwittingly, they ushered in the Gilded Age.

Author: Alan Greenspan
Publisher: Penguin
ISBN: 0735222452
Category : Business & Economics
Languages : en
Pages : 530

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Book Description
From the legendary former Fed Chairman and the acclaimed Economist writer and historian, the full, epic story of America's evolution from a small patchwork of threadbare colonies to the most powerful engine of wealth and innovation the world has ever seen. Shortlisted for the 2018 Financial Times and McKinsey Business Book of the Year Award From even the start of his fabled career, Alan Greenspan was duly famous for his deep understanding of even the most arcane corners of the American economy, and his restless curiosity to know even more. To the extent possible, he has made a science of understanding how the US economy works almost as a living organism--how it grows and changes, surges and stalls. He has made a particular study of the question of productivity growth, at the heart of which is the riddle of innovation. Where does innovation come from, and how does it spread through a society? And why do some eras see the fruits of innovation spread more democratically, and others, including our own, see the opposite? In Capitalism in America, Greenspan distills a lifetime of grappling with these questions into a thrilling and profound master reckoning with the decisive drivers of the US economy over the course of its history. In partnership with the celebrated Economist journalist and historian Adrian Wooldridge, he unfolds a tale involving vast landscapes, titanic figures, triumphant breakthroughs, enlightenment ideals as well as terrible moral failings. Every crucial debate is here--from the role of slavery in the antebellum Southern economy to the real impact of FDR's New Deal to America's violent mood swings in its openness to global trade and its impact. But to read Capitalism in America is above all to be stirred deeply by the extraordinary productive energies unleashed by millions of ordinary Americans that have driven this country to unprecedented heights of power and prosperity. At heart, the authors argue, America's genius has been its unique tolerance for the effects of creative destruction, the ceaseless churn of the old giving way to the new, driven by new people and new ideas. Often messy and painful, creative destruction has also lifted almost all Americans to standards of living unimaginable to even the wealthiest citizens of the world a few generations past. A sense of justice and human decency demands that those who bear the brunt of the pain of change be protected, but America has always accepted more pain for more gain, and its vaunted rise cannot otherwise be understood, or its challenges faced, without recognizing this legacy. For now, in our time, productivity growth has stalled again, stirring up the populist furies. There's no better moment to apply the lessons of history to the most pressing question we face, that of whether the United States will preserve its preeminence, or see its leadership pass to other, inevitably less democratic powers.

Author: Jonathan Levy
Publisher: Random House Trade Paperbacks
ISBN: 0812985184
Category : Business & Economics
Languages : en
Pages : 945

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Book Description
A leading economic historian traces the evolution of American capitalism from the colonial era to the present—and argues that we’ve reached a turning point that will define the era ahead. “A monumental achievement, sure to become a classic.”—Zachary D. Carter, author of The Price of Peace In this ambitious single-volume history of the United States, economic historian Jonathan Levy reveals how capitalism in America has evolved through four distinct ages and how the country’s economic evolution is inseparable from the nature of American life itself. The Age of Commerce spans the colonial era through the outbreak of the Civil War, and the Age of Capital traces the lasting impact of the industrial revolution. The volatility of the Age of Capital ultimately led to the Great Depression, which sparked the Age of Control, during which the government took on a more active role in the economy, and finally, in the Age of Chaos, deregulation and the growth of the finance industry created a booming economy for some but also striking inequalities and a lack of oversight that led directly to the crash of 2008. In Ages of American Capitalism, Levy proves that capitalism in the United States has never been just one thing. Instead, it has morphed through the country’s history—and it’s likely changing again right now. “A stunning accomplishment . . . an indispensable guide to understanding American history—and what’s happening in today’s economy.”—Christian Science Monitor “The best one-volume history of American capitalism.”—Sven Beckert, author of Empire of Cotton

Author: National Defense University (U S )
Publisher: Government Printing Office
ISBN:
Category : Business & Economics
Languages : en
Pages : 132

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Book Description
On August 24-25, 2010, the National Defense University held a conference titled “Economic Security: Neglected Dimension of National Security?” to explore the economic element of national power. This special collection of selected papers from the conference represents the view of several keynote speakers and participants in six panel discussions. It explores the complexity surrounding this subject and examines the major elements that, interacting as a system, define the economic component of national security.