*Ages of American Capitalism* – Marginal REVOLUTION

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The creator is Jonathan Levy (U. Chicago) and the subtitle is A History of the United States, noting it’s principally an financial historical past from a left-mercantilist, nation-building standpoint.  Thus far on p.95 I fairly just like the guide, right here is one excerpt:

Mockingly sufficient, in some respects Jefferson’s Empire of Liberty got here to resemble the eighteenth-century British empire.  Congress revoked all inner taxes.  The army finances was reduce in half.  A provision of the 1789 Structure, the Commerce Clause, granted Congress the authority to control commerce “among the many a number of states,” forbidding interstate mercantilist discrimination.  The consequence was to verify state discrimination, opening up a unitary industrial area and growing the extent of markets and thus the demand for items.  Empires, whereas forging widespread political jurisdiction, accommodate pluralism and distinction in rule, typically in order that totally different parts within the empire would possibly interact in commerce.  On this respect, the Louisiana Buy, in essence, handed america its personal model of a West Indies within the decrease Mississippi Valley.  By 1810 already 16 % of the U.S. slave inhabitants lived within the trans-Appalachian West.  New slave-based triangular trades appeared on the North American continent, in a terrific counterclockwise nationwide wheel of commerce.

741 pp. of textual content on this one, I’m curious to see what comes subsequent.  And my colleague Steven Pearlstein wrote a very good review of the book.

 

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