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Tracking the movement of finance capital toward far-flung investment frontiers, Noam Maggor reconceives the emergence of modern capitalism in the United States. Brahmin Capitalism reveals the decisive role of established wealth in the transformation of the American economy in the decades after the Civil War, leading the way to the nationally integrated corporate capitalism of the twentieth century. Maggor’s provocative history of the Gilded Age explores how the moneyed elite in Boston—the quintessential East Coast establishment—leveraged their wealth to forge transcontinental networks of commodities, labor, and transportation. With the decline of cotton-based textile manufacturing in New England and the abolition of slavery, these gentleman bankers traveled far and wide in search of new business opportunities and found them in the mines, railroads, and industries of the Great West. Their investments spawned new political and social conflict, in both the urbanizing East and the expanding West. In contests that had lasting implications for wealth, government, and inequality, financial power collided with more democratic visions of economic progress. Rather than being driven inexorably by technologies like the railroad and telegraph, the new capitalist geography was a grand and highly contentious undertaking, Maggor shows, one that proved pivotal for the rise of the United States as the world’s leading industrial nation.
A New York Times Bestseller An NPR Best Book of the Year The epic successor to one of the most important books of the century: at once a retelling of global history, a scathing critique of contemporary politics, and a bold proposal for a new and fairer economic system. Thomas Piketty’s bestselling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system. Our economy, Piketty observes, is not a natural fact. Markets, profits, and capital are all historical constructs that depend on choices. Piketty explores the material and ideological interactions of conflicting social groups that have given us slavery, serfdom, colonialism, communism, and hypercapitalism, shaping the lives of billions. He concludes that the great driver of human progress over the centuries has been the struggle for equality and education and not, as often argued, the assertion of property rights or the pursuit of stability. The new era of extreme inequality that has derailed that progress since the 1980s, he shows, is partly a reaction against communism, but it is also the fruit of ignorance, intellectual specialization, and our drift toward the dead-end politics of identity. Once we understand this, we can begin to envision a more balanced approach to economics and politics. Piketty argues for a new “participatory” socialism, a system founded on an ideology of equality, social property, education, and the sharing of knowledge and power. Capital and Ideology is destined to be one of the indispensable books of our time, a work that will not only help us understand the world, but that will change it.
It?s no secret that certain social groups have predominated India?s business and trading history, with business traditionally being the preserve of particular `Bania? communities. However, the past four or so decades have seen a widening of the social base of Indian capital, such that the social profile of Indian business has expanded beyond recognition, and entrepreneurship and commerce in India are no longer the exclusive bastion of the old mercantile castes. In this meticulously researched book ? acclaimed for being the first social history to document and understand India?s new entrepreneurial groups ? Harish Damodaran looks to answer who the new `wealth creators? are, as he traces the transitional entry of India?s middle and lower peasant castes into the business world. Combining analytical rigour with journalistic flair, India?s New Capitalists is an essential read for anyone seeking to understand the culture and evolution of business in contemporary South Asia.
A Companion to the Gilded Age and Progressive Era presents a collection of new historiographic essays covering the years between 1877 and 1920, a period which saw the U.S. emerge from the ashes of Reconstruction to become a world power. The single, definitive resource for the latest state of knowledge relating to the history and historiography of the Gilded Age and Progressive Era Features contributions by leading scholars in a wide range of relevant specialties Coverage of the period includes geographic, social, cultural, economic, political, diplomatic, ethnic, racial, gendered, religious, global, and ecological themes and approaches In today’s era, often referred to as a “second Gilded Age,” this book offers relevant historical analysis of the factors that helped create contemporary society Fills an important chronological gap in period-based American history collections
Capitalist private property in land and buildings – real estate – is the ground of modern cities, materially, politically, and economically. It is foundational to their development and core to much theoretical work on the urban environment. It is also a central, pressing matter of political contestation in contemporary cities. Yet it remains largely without a history. This Element examines the modern city as a propertied space, defining real estate as a technology of (dis)possession and using it to move across scales of analysis, from the local spatiality of particular built spaces to the networks of legal, political, and economic imperatives that constitute property and operate at national and international levels. This combination of territorial embeddedness with more wide-ranging institutional relationships charts a route to an urban history that allows the city to speak as a global agent and artefact without dispensing with the role of states and local circumstance.
India today is a vibrant free-market democracy, a nation well on its way to overcoming decades of widespread poverty. The nation’s rise is one of the great international stories of the late twentieth century, and in India Unbound the acclaimed columnist Gurcharan Das offers a sweeping economic history of India from independence to the new millennium. Das shows how India’s policies after 1947 condemned the nation to a hobbled economy until 1991, when the government instituted sweeping reforms that paved the way for extraordinary growth. Das traces these developments and tells the stories of the major players from Nehru through today. As the former CEO of Proctor & Gamble India, Das offers a unique insider’s perspective and he deftly interweaves memoir with history, creating a book that is at once vigorously analytical and vividly written. Impassioned, erudite, and eminently readable, India Unbound is a must for anyone interested in the global economy and its future.
This book maps the development of a regional elite and its persistence as an economic upper class through the nineteenth century. Farrell’s study traces the kinship networks and overlapping business ties of the most economically prominent Brahmin families from the beginning of industrialization in the 1820s to the early twentieth century. Archival sources such as genealogies, family papers, and business records are used to address two issues of concern to those who study social stratification and the structure of power in industrializing societies: in what ways have traditional forms of social organization, such as kinship, been responsive to the social and economic changes brought by industrialization; and how active a role did an early economic elite play in shaping the direction of social change and in preserving its own group power and privilege over time.
A history of artisan production in colonial and post-independence India, and its role in the country's society and economics.
The bestselling author of Overthrow and The Brothers brings to life the forgotten political debate that set America’s interventionist course in the world for the twentieth century and beyond. How should the United States act in the world? Americans cannot decide. Sometimes we burn with righteous anger, launching foreign wars and deposing governments. Then we retreat—until the cycle begins again. No matter how often we debate this question, none of what we say is original. Every argument is a pale shadow of the first and greatest debate, which erupted more than a century ago. Its themes resurface every time Americans argue whether to intervene in a foreign country. Revealing a piece of forgotten history, Stephen Kinzer transports us to the dawn of the twentieth century, when the United States first found itself with the chance to dominate faraway lands. That prospect thrilled some Americans. It horrified others. Their debate gripped the nation. The country’s best-known political and intellectual leaders took sides. Theodore Roosevelt, Henry Cabot Lodge, and William Randolph Hearst pushed for imperial expansion; Mark Twain, Booker T. Washington, and Andrew Carnegie preached restraint. Only once before—in the period when the United States was founded—have so many brilliant Americans so eloquently debated a question so fraught with meaning for all humanity. All Americans, regardless of political perspective, can take inspiration from the titans who faced off in this epic confrontation. Their words are amazingly current. Every argument over America’s role in the world grows from this one. It all starts here.
The progressive economics writer redefines the national conversation about American freedom “Mike Konczal [is] one of our most powerful advocates of financial reform‚ [a] heroic critic of austerity‚ and a huge resource for progressives.”—Paul Krugman Health insurance, student loan debt, retirement security, child care, work-life balance, access to home ownership—these are the issues driving America’s current political debates. And they are all linked, as this brilliant and timely book reveals, by a single question: should we allow the free market to determine our lives? In the tradition of Naomi Klein’s The Shock Doctrine, noted economic commentator Mike Konczal answers this question with a resounding no. Freedom from the Market blends passionate political argument and a bold new take on American history to reveal that, from the earliest days of the republic, Americans have defined freedom as what we keep free from the control of the market. With chapters on the history of the Homestead Act and land ownership, the eight-hour work day and free time, social insurance and Social Security, World War II day cares, Medicare and desegregation, free public colleges, intellectual property, and the public corporation, Konczal shows how citizens have fought to ensure that everyone has access to the conditions that make us free. At a time when millions of Americans—and more and more politicians—are questioning the unregulated free market, Freedom from the Market offers a new narrative, and new intellectual ammunition, for the fight that lies ahead.