American economic growth, business cycles
(1870-2005) - economic growth swamps economic
fluctuations over time; 1929 and
1933 - American economy shrank by 30%, foreign
trade slowed, unemployment reached 25% in 1933 (15 million
people out of work); 43-month contraction, 13-month conclusion
in 1937-38; 1940 -
output regained 1929 level (preparations for World War II
underway); no similar decade in 135 years;
1946 - Congress passed Employment Act of
1946, mandated broad government economic policy, created
President’s Council of Economic Advisers; discovered number of
"automatic stabilizers" created as part of New Deal (before
1946 - business cycles more frequent, swings greater,
economy often operated below long-term norm 2% growth rate;
after World War II - recessions milder, less frequent; growth
steady); recessions - 1981-82 (associated with Volcker
disinflation); 1974-75 (associated with OPEC price increases,
commercial real estate crash); each lasted 16 months from peak
to trough.
Source: Macroeconomics by Charles I.
Jones; New York : W.W. Norton, c2002; Professor of Economics
(University of California, Berkeley), Research Associate of the
National Bureau of Economic Research; (http://www.economicprincipals.com/wp-content/uploads/2008/12/american-growth-friday.jpg);
dates above shifted about five years to right, elongated
horizontal scale in years between 1970 and 2000 (does not change
the point; shape of line is correct)
June 27, 1884 - President
Chester Arthur signed bill sponsored by Representative James
Hopkins of Pennsylvania to establish a Bureau of Labor to
collect information on the subject of working people and the
"means of promoting their material, social, intellectual, and
moral prosperity" (placed in the Department of the Interior);
1886 - Bureau of Labor Statistics (principal fact-finding agency
for Federal Government in broad field of labor economics and
statistics) published First Annual Report (496-page study of
industrial depressions); March 21, 1888 -
President Grover Cleveland signed bill making Department of
Labor independent of the Department of Interior; 1913
- Bureau of Labor Statistics began calculating the Consumer
Price Index (CPI) - measure of average change over time in
prices paid by urban consumers for market basket of consumer
goods and services (84,000 prices in about 200 categories
measured in 2008); March 4, 1913 - William Howard
Taft signed Public Law 426-62, created U. S. Department of Labor
(included Bureau of Labor Statistics); July 1915 -
BLS began publication of Monthly Labor Review.
Consumer Price Index US 1913-2004
(source: U.S. Department Of Labor -Bureau of Labor Statistics;
http://www.freebase.com/api/trans/raw/guid/9202a8c04000641f8000000004978698)
1920
- Wesley Clair Mitchell, professor of economics (Columbia
University), introduced "business cycle" analysis; founded
National Bureau of Economic Research (NBER) to pursue
quantitative studies of U.S. business cycles;
private, nonprofit, nonpartisan research organization dedicated
to promoting a greater understanding of how the economy works.
Personal Saving
Rate - 2000-2009
(source: Bureau of Economic
Analysis; http://www.bea.gov/briefrm/saving.gif)
Consumer Sentiment
1975-2010
(source:
Federal Reserve Bank of St. Louis;
http://research.stlouisfed.org/fred2/data/UMCSENT_Max_630_378.png)
(http://inflationdata.com/inflation/images/charts/Average_Annual%20_Inflation%20_Decade.gif)
March 2007
- Center for Budget and Policy Priorities
released new study - how the progressivity of the federal tax system
has changed over time (effective federal tax rates going back to
1960, including income, payroll, corporate, and estate taxes;
data for income groups reaching up to the top one-hundredth of
one percent [.01 percent] of the population):
(http://www.cbpp.org/3-29-07tax-f1.jpg)
January 19, 2008
- Unemployment and recessions:
(http://graphics8.nytimes.com/images/2008/01/19/business/0119charts.jpg)
April 9, 2008
- Wage Stagnation:
(http://graphics8.nytimes.com/images/2008/04/09/business/20080409_LEONHARDT_GRAPHIC.jpg)
April 2008
- Job Growth Change from previous
quarter expressed as % (shading indicates national
recession;
(http://graphics8.nytimes.com/images/2008/04/28/nyregion/0428-met-YORK-sub-web.gif)
May 7, 2008
- Consumer Price Index (1998-2008)
(http://graphics8.nytimes.com/images/2008/05/07/business/20080507_LEONHARDT_GRAPH.jpg)
June 2008
- Consumer Confidence at 16 Year Low
(http://graphics8.nytimes.com/images/2008/06/25/business/0625-biz-webECON.jpg)
July 19, 2008
- Economic Slowdown - Home Price Index, Percentage of
People with Jobs (3-month moving average),
Year-over-Year Change in Real Consumer Spending (3-month
moving average) - 1988 - 2008 (recessions in brown).
(source: Standard & Poor's/Case-Shiller; Bureau of Labor Statistics;
Bureau of Economic Analysis;
http://graphics8.nytimes.com/images/2008/07/19/business/aoneFUll.jpg)
July 29, 2008
- Budget deficit for 2009 fiscal year projected to reach
half a trillion dollars; lower as % of GDP, than some
earlier deficits:
(http://graphics8.nytimes.com/images/2008/07/29/business/20080729_BUDGET_GRAPHIC.gif)
August 2, 2008
- Unemployment at 5.7% in July 2008 (highest level in
more than 4 years - steady loss of jobs (463,000 since
January 2008).
(http://graphics8.nytimes.com/images/2008/08/02/business/0802-biz-webECON.gif)
August 20, 2008 - Producer
prices rose to highest rate in 27 years in July 2008;
housing starts fell to lowest rate in 17 years.
(http://graphics8.nytimes.com/images/2008/08/20/business/economy/econlarge.jpg)
August 30, 2008
- Out of recession
(http://graphics8.nytimes.com/images/2008/08/30/business/chartsFull.jpg)
September 2008
- Minimum wage raised to $6.55 per hour (up from $5.85
per hour) = $13,624 per year (75.9 million people paid
by hour in 2007, 58.5% of workplace; 2.3% made minimum
wage or less); Fair Labor Standards Act became law in
1938; established time-and-a-half pay for overtime;
restricted child labor; set minimum wage at $.25 per
hour (equivalent to $10.11 in 2008 dollars).
(http://graphics8.nytimes.com/images/2008/08/31/business/0831-sbn-webCOUNT.gif)
September 13,
2008 - Misery Index (sum of unemployment rate,
inflation rate over preceding 12 months); only 3 presidential
terms in which misery index rose at least 4 percentage points
over 12-month span. (1949-53, 1973-77, 1977-1981 peak at 21.9% -
incumbent party lost following election.
(http://graphics8.nytimes.com/images/2008/09/13/business/13chart-graf.jpg)
The US Misery Index by
President 1948 to 2007
Misery Index = Unemployment
rate + Inflation rate
President |
Time Period |
Average Misery Index |
|
Jimmy
Carter |
1977 - 1980 |
16.27 |
Gerald
Ford |
1974 - 1976 |
15.93 |
Ronald
Reagan |
1981 - 1988 |
12.19 |
George
H.W. Bush |
1989 - 1992 |
10.68 |
Richard Nixon |
1969 - 1973 |
9.98 |
George
W. Bush |
2001 - 2007 |
7.89 |
Harry
Truman |
1948 - 1952 |
7.87 |
William J. Clinton |
1993 - 2000 |
7.80 |
John
F. Kennedy |
1961 - 1962 |
7.27 |
Lyndon
Johnson |
1963 - 1968 |
6.78 |
Dwight
Eisenhower |
1953 - 1960 |
6.26 |
(http://www.miseryindex.us/indexbypresident.asp)
November 2008
- Bureau of Labor Statistics reported that U. S. employers shed
533,000 jobs, 11th consecutive monthly decline;
largest one-month job loss
since December 1974; unemployment rate rose to
6.7 percent; National Bureau of Economic Research ruled that a
recession (12th since the Depression) began in December 2007 =
longest since Great Depression (previous record was 16 months,
in severe recessions of mid-1970s and early 1980s);
largest decline in consumer confidence in history of
Reuters/University of Michigan Survey of Consumers (started
polling in 1950s) - falling home and stock prices, fewer work
hours, smaller bonuses, less overtime, disappearing jobs; more
than 1.9 million jobs lost since January 2008; fresh reports of
cutbacks or declines in construction spending, home sales,
consumer spending, business investment, exports;
December 4, 2008 -
International Council of Shopping Centers described November
sales at stores open at least a year as weakest in more
than 30 years; economists estimated that the gross
domestic product contracted at annual rate of 4% or more in
fourth quarter; Mortgage Bankers Association's National
Delinquency Survey reported record 1.35 million homes in
foreclosure in third quarter 2008, drove foreclosure
rate to 2.97% (76% increase from 2007).
(http://graphics8.nytimes.com/images/2008/12/05/technology/1206-biz-webIDLE.gif)
(http://graphics8.nytimes.com/images/2008/12/08/business/08econ-graf01.jpg)
November 8, 2008 - U. S.
Labor Department reported U.S. unemployment rate soared
to 14-year high in October; supported economists'
warnings that current downturn will rival worst
recessions since end of World War II.
(source: Labor Department;
http://s.wsj.net/public/resources/images/P1-AN570A_WJOBS_NS_20081107221355.gif)
December 17, 2008
- CPI was 3% lower in November 2008 than in August - steepest
drop since 1933; deflationary:
(http://graphics8.nytimes.com/images/2008/12/17/business/1217-biz-web-subLEONHARDT-copy.gif)
February 26, 2009 -
Taxes have remained fairly constant relative to size of the
American economy (about 18% of gross domestic product) for
half-century; 1950s and 1960s - American economy grow fastest in
last 60 years, top marginal tax rate 90%; late 1990s - economy
grow fastest in last generation, Clinton briefly raised federal
taxes to 20% of G.D.P.; last three decades - pretax income of
top 1% of earners has soared, their total federal tax rate has
fallen to 31% (from 37%; source:
Congressional Budget Office); benefits
from higher taxes (security, education, health) outweigh costs,
if spent well by government.
(http://graphics8.nytimes.com/images/2009/02/25/business/25LEON_xBIG.jpg)
May 2009 - American trade deficit fell to 2.4% (as a
percent of gross domestic product) in the first quarter of
2009 (less than half of the deficit n the first quarter of
2008); smallest deficit in a decade; fastest rate of collapse
ever; global economic imbalances shrunk by recession (Americans
are no longer buying
exports from countries which supplied products); not
being caused by a rebound in American exports - peaked at 13.7%
in the third quarter of 2008, down to 10.9% in first quarter
2009 (imports fell to 13.3% of G.D.P. from a peak of 18.6%,
based on nominal dollar values, in part reflects the fall in oil
prices, adjusted for inflation).
(http://graphics8.nytimes.com/images/2009/05/01/business/
June 6, 2009 - Americans spent less than they
spent a year ago - first time since World War II; sharpest rise
in U. S. savings rate since the government began calculating the
statistic in the 1950s. April 2009 - savings rate rose to a
14-year high of 5.7% of disposable income (record high of 14.6%
in May 1975); chart - trends in personal consumption spending
and savings rates (3-month moving averages smooth gyrations,
savings rate averaged 4.8% over 3-month period); April 1961 -
smallest year-over-year rise in consumption spending (1.8%
increase over 12 month period; nominal dollars, not adjusted for
inflation); 2009 - year-over-year figures down in every month;
sharpest falloff in consumer spending in the current cycle for
purchase of durable goods (vehicles and furniture); spending on
nondurable goods (food and clothing) down for the first time
since the 1940s, continuing to fall; consumer spending on
services still rising, at the lowest level in memory (rising
payments for medical services); late 2008 - spending on durable
goods down 12.6%, year-over-year (largest in more than 50
years).
(http://graphics8.nytimes.com/images/2009/06/05/business/0606-biz-webCHARTS.gif)
June 8, 2009 - Decline in Net
Worth of American Households
(http://chartporn.org/wp-content/uploads/2009/06/image16.png)
July 24, 2009
- Index of (10) Economic Indicators: 1)
rising at rate which has accurately indicated end of every
recession since 1959; 2) does not foretell
strength of economic upturn; June 2009 - rose
for third consecutive month (12.8% annualized rate); strongest
indicators - financial; since 1960 - 6/7
recessions (except 1990-1991) ended in month index showed
12% annualized gain (or 1-2months before); Conference
Board's Index of 'coincident indicators' - down in 8
consecutive months, 17/19 past months, down 6.4% from peak in
November 2007 (= steepest recession since 1960; previous
steepest decline - 5.6% during 1973=1975 recession).
(http://graphics8.nytimes.com/images/2009/07/24/
business/20090725_CHARTS_GRAPHIC.jpg)
August 21, 2009 -
Rise of super-rich hit wall
(http://graphics8.nytimes.com/images/2009/08/20/business/0821-nat-webINEQUALITY.gif)
September 26,
2009 -
1Q 1954
- Total debt less than $500 billion;
2Q 2009
- domestic debt declined 0.3%, to $50.8 trillion (not seasonally
adjusted, quarter-to-quarter comparisons risky) -first decline
since first quarter of 1954;
2Q 2008-2Q 2009:
National debt rose by more than
a third, far more than at any time since World War II; went to:
1) investments in financial institutions to keep them alive; 2)
programs aimed at stimulating the private economy (government
picked up part of the cost for some home buyers and some auto
buyers); Total domestic debt (owed by
individuals, governments and businesses) - climbed 3.7%
(smallest increase since the Fed started calculations in the
early 1950s): 1) nonfinancial businesses
increased their debt by 1.3% (paid back more in old loans than
took out in new ones); 2) total
household debt fell by 1.7%; mortgage debt (largest
component of household debt) fell at a 1.8% pace (first, of 10
recessions since the Fed began collecting numbers, in which the
amount of home mortgage debt fell, some from
foreclosures);
1990-2009
- Biggest increase in debt in America came from financial
companies (financial innovation vs. actual economic activity):
1) debt issued by financial companies with
guarantees rose at a 10.2% (guaranteed by underlying
assets. as home mortgages, or by equivalent of government debt,
borrowed by government-sponsored enterprises, as Fannie Mae);
2) debt issued by financial
companies without guarantees rose at a 10.6% rate;
3) debt of nonfinancial businesses climbed
5.9%; 4) 1990 - nonfinancial businesses in the
United States borrowed $1.70 for every dollar borrowed by the
financial sector (guaranteed by government or not); 2009 - 68
cents.
(http://graphics8.nytimes.com/images/2009/09/26/business/0926-biz-CHARTSweb.gif)
October
2009 - Global view
of the housing bubble:
2000-2007
- remarkable run-up in global home prices; trend
reversed abruptly; 2008
- value of US residential real estate fell 10% (erased
more than $3.4 trillion of household wealth); the global
average declined by almost 4%; slide could persist for
some time, could depress global consumption.
(ttp://www.mckinseyquarterly.com/newsletters/image/Sept09_CF.jpg)
January 17, 2009 - Job Loss and Economic Rebounds:
1950 -
Five periods in which employment declines
lasted as long as 10 consecutive months; job market came back
quickly after three periods (loss of jobs during the decline was
at least 2.3% of the work force); 1990-1991 -
highest unemployment level was 6.8% (peaked at 7.8% in June
1992, 15 months after the recession ended); 2001
recession - the unemployment rate rose to 5.5% (topped
out at 6.3% more than a year later); December
2007 - Employment peaked; employment
declined for 22 consecutive months (down 5.2%) = deeper, longer
than any time since 1950; more than the 1991 and 2002 declines
put together;
November 2009 - tiny gain of 4,000 jobs
(source: Labor Department estimates); December 2009
- renewed loss of jobs.
(http://graphics8.nytimes.com/images/2010/01/15/business/0116-biz-webCHARTS.gif)
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debt, supply of money, early efforts to present systematized
text-book statements of political economy, protection versus
free trade, railroad regulation, poverty in relation to
institutions, competition versus monopoly, social structure in
relation to economic policy, monetary theory, socio-economic
role of religion, 'labour question', organisation of labour,
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Supply-side economics--United States; United States--Economic
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economics"), Reagan economic revolution of 1982-89: 1) tax cuts
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--United States; Income distribution --United States;
Globalization; United States --Economic policy --2001-.
Dark secret of economics laid
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about best way to organize society to produce, distribute
resources and opportunities (not objective scientific
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Economics (University of Maryland); Senior Vice President,
Director of the Economics, Labor, and Population Department at
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Business cycles--United States; Statics and dynamics (Social
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Eds. Scott Derks and Tony Smith (2005).
The Value of a Dollar: Colonial Era to the Civil War, 1600-1865.
(Millerton, NY: Grey House Pub., 436 p.). Marketing Director For
South Carolina Department Of Commerce. Purchasing power--United
States--History; Prices--United States--History; Wages--United
States--History; Cost and standard of living--United
States--History.
James L. Dietz (1986).
Economic History of Puerto Rico: Institutional Change and
Capitalist Development. (Princeton, NJ: Princeton
University Press, 337 p.). Investments--Puerto Rico--History;
Capitalism--Puerto Rico--History; Puerto Rico--Economic
conditions; Puerto Rico--Commerce--History; Puerto
Rico--History.
Richard B. DuBoff (1989).
Accumulation & Power: An Economic History of the United States.
(Armonk, NY: M.E. Sharpe, 223 p.). Saving and investment--United
States--History; Capital investments--United States--History;
Monopolies--United States--History; Competition--United
States--History; Capitalism--United States--History.
Eds. Stanley L. Engerman and Robert E. Gallman
(1986).
Long-Term Factors in American Economic Growth. (Chicago,
IL: University of Chicago Press, 884 p.). John H. Munro
Professor of Economics and Professor of History (University of
Rochester); Kenan Professor of Economics and History (University
of North Carolina, Chapel Hill). North America--Economic
conditions; United States--Economic conditions.
--- (1996-2000).
The Cambridge Economic History of the United States.
(New York, NY: Cambridge University Press, 3 vols.). United
States--Economic conditions. Incomplete Contents: v. 1. The
colonial era -- v. 2. The long nineteenth century -- v. 3. The
twentieth century.
Harold U. Faulkner (1976).
American Economic History. (New York, NY: Harper, 514 p.
[9th ed.]). United States--Economic conditions.
Joseph Finkelstein (1992).
The American Economy from the Great Crash to the Third
Industrial Revolution. (Arlington Heights, IL: Harlan
Davidson, 277 p.). United States--Economic
conditions--1918-1945; United States--Economic
conditions--1945-; United States--Economic policy.
Price Fishback ... [et al.] (2007).
Government and the American Economy: A New History.
(Chicago, IL: University of Chicago Press, 500 p.). Frank and
Clara Kramer Professor of Economics (University of Arizona).
United States--Economic policy; United States--History.
America’s democratic experiment
allowed individuals and interest groups to shape structure,
policies of government, which, in turn, have fostered economic
success, innovation by emphasizing private property
rights, rule of law, protections of individual freedom.
Robert William Fogel (1964).
Railroads and American Economic Growth: Essays in Econometric
History. (Baltimore, MD: Johns Hopkins Press, 296 p.).
Charles R. Walgreen Professor of American Institutions, Director
for the Center for Population Economics (University of Chicago)
and Winner - Nobel Prize for Economics in 1993.
Railroads--United States--History; United States--Economic
conditions.
Robert William Fogel and Stanley L. Engerman
(1974).
Time on the Cross; The Economics of American Negro Slavery.
(Boston, MA: Little, Brown, 286 p.). Charles R. Walgreen
Professor of American Institutions, Director for the Center for
Population Economics (University of Chicago) and Winner - Nobel
Prize for Economics in 1993; Professor of Economics and History
(University of Rochester). Slavery--Economic aspects--United
States; Slavery--United States--Econometric models. Winner of
Bancroft Prize. Sweeping
reexamination of economic foundations of American Negro slavery
- entirely new portrayal of slavery's past.
Paul W. Gates (1989).
The Farmer's Age: Agriculture, 1815-1860. (Armonk, NY:
M.E. Sharpe, 460 p. [orig. pub. 1960]). Agriculture--Economic
aspects--United States--History--19th century; United
States--Economic conditions--To 1865.
Paul W. Gates (1965).
Agriculture and the Civil War. (New York, NY: Knopf, 383
p.). Agriculture--Economic aspects--United States; United
States--History--Civil War, 1861-1865--Economic aspects.
Eugene D. Genovese, with a new introduction
(1989).
The Political Economy of Slavery: Studies in the Economy &
Society of the Slave South. (Middletown, CT: Wesleyan
University Press, 335 p. [2nd ed.]). Distinguished Professor of
Arts and Sciences in the College of Arts and Sciences
(University of Rochester). Slavery--Economic aspects--United
States; Slavery--Economic aspects--Southern States; United
States--Economic conditions; Southern States--Economic
conditions.
Claudia D. Goldin (1990).
Understanding the Gender Gap: An Economic History of American
Women. (New York, NY: Oxford University Press, 287 p.).
Women--Employment--United States--History; Sex discrimination in
employment--United States--History.
Colin Gordon (1994).
New Deals: Business, Labor, and Politics in America, 1920-1935.
(New York, NY: Cambridge University Press, 329 p.). New Deal,
1933-1939; Labor policy--United States--History--20th century;
United States--Economic policy--To 1933; United States--Economic
policy--1933-1945; United States--Politics and
government--1933-1945.
John Steele Gordon (2004).
An Empire of Wealth: The Epic History of America's Economic
Power. (New York, NY: HarperCollins, 480 p.). Columnist,
American Heritage Magazine. Economic conditions -- U. S.;
Economic history--U. S. Birth,
development of American economy; first country to dominate world
through creation of wealth; major technology in 20th century
originated in United States, spread
American culture, perspective
around globe.
James Grant (1996).
The Trouble with Prosperity : The Loss of Fear, the Rise of
Speculation, and the Risk to American Savings. (New
York, NY: Times Books, 348 p.). Business cycles--United
States--History--20th century; United States--Economic
conditions.
Norman S.B. Gras (1967). Business History
of the United States about 1650 to 1950's. (Ann Arbor, MI:
Lithographed by Edwards Bros.; distributed by the Lincoln
Educational Foundation, New York, 470 p.). Professor of Business
History (Harvard Business School). United
States--Commerce--History. Condensed from his unpublished
three-volume manuscript by Ethel C. Gras.
William Greenleaf (1968).
American Economic Development Since 1860. (New York,
NY: Harper & Row, 391 p.). United States--Economic conditions;
United States--Economic policy; United
States--History--1865---Sources.
Ernie Gross (2002).
Advances and Innovations in American Daily Life, 1600s-1930s.
(Jefferson, NC: McFarland, 298 p.). Technological
innovations--United States--History; United States--Social life
and customs.
Songho Ha (2009).
The Rise and Fall of the American System: Nationalism and the
Development of the American Economy, 1800-1837.
(London, UK: Pickering & Chatto, 256 p.). Department of History
(University of Alaska Anchorage). Rise and fall, underlying
causes of its failure, of the American system between the end of
the war in 1815 and the Panic of 1837 (implemented by U.S.
government to develop national domestic market);
started as expression of
American nationalism; resulted in intensifying sectional
conflicts within young republic; only implemented in minor
cases, national market failed to emerge; 1840 - South bought
just 8% of East's production (less from West).
Louis M. Hacker (1961).
Major Documents in American Economic History.
(Princeton, NJ: Van Nostrand, 2 vols.). United States--Economic
conditions. v. 2. The problems of a world power (the 20th
century).
Louis M. Hacker (1961).
Major Documents in American Economic History, Vol.2: the
Problems of a World Power, the 20th Century. (Princeton,
NJ: Van Nostrand, 2 vols.). United States--Economic conditions.
v. 1. From an agrarian to an industrial economy (1785-1900).
Oscar and Mary F. Handlin (1975).
The Wealth of the American People: A History of American
Affluence. (New York, NY: McGraw-Hill, 266 p.). United
States--Economic conditions.
Robert L. Heilbroner, Aaron Singer (1999).
The Economic Transformation of America: 1600 to the Present.
(Fort Worth, TX: Harcourt Brace College Publishers, 390 p. [4th
ed.]). Industrialization--United States--History; United
States--Economic conditions. Development of capitalism, age of
machines through voices of business leaders, working people,
inventors, unusual cast of presidents, generals, patriots.
R. Rudy Higgens-Evenson (2003).
The Price of Progress: Public Services, Taxation, and the
American Corporate State, 1877 to 1929. (Baltimore, MD:
Johns Hopkins University Press, 168 p.). Government spending
policy--United States--States; Taxation--United
States--History--States; Corporate state--United
States--History; United States--Politics and government; United
States--Economic conditions.
Charles Hoffmann (1970).
The Depression of the Nineties; An Economic History.
(Westport, CT: Greenwood Pub. Corp., 326 p.). Depressions--1893;
United States--Economic conditions--1865-1918.
Richard Holt (1995).
The Reluctant Superpower: A History of America’s Global Economic
Reach. (New York, NY: Kodansha International, 320 p.).
Free enterprise--United States--History; Keynesian
economics--History; United States--Foreign economic
relations--History; United States--Economic conditions; United
States--Economic policy.
Daniel Walker Howe (2007).
What Hath God Wrought: The Transformation of America, 1815-1848.
(New York, NY: Oxford University Press, 904 p.). Rhodes
Professor of American History Emeritus (Oxford University),
Professor of History Emeritus (University of California, Los
Angeles). Social change--United States--History--19th century;
United States--History--1815-1861; United States--Foreign
relations--1815-1861; United States--Politics and
government--1815-1861; United States--Economic conditions--To
1865. End of the War of
1812 (1815) to the end of the Mexican American War (1848) -
political, military events with social, economic, cultural
history: 1) revolutionary improvements in transportation,
communications that 2) accelerated extension of American empire;
3) railroads, canals, newspapers, telegraph dramatically lowered
travel times, spurred spread of information; 4) prompted
emergence of mass political parties, stimulated America's
economic development from overwhelmingly rural country to
diversified economy in which commerce, industry took their place
alongside agriculture; 5) rise of Andrew Jackson and his
Democratic party; 6) power of religion to shape many aspects of
American life (slavery, antislavery, women's rights , other
reform movements, politics, education, literature; 7) bitterly
controversial, brilliantly executed war against Mexico to gain
California, Texas for the United States.
Michael Hudson (1975).
Economics and Technology in 19th Century American Thought.
(New York, NY: Garland Pub., 426 p.). Distinguished Research
Professor of Economics (University of Missouri, Kansas City).
Economics --United States --History. First generation of
Pennsylvanian Protectionists; Boston Protectionists;
Border-State Protectionism until the New York Mainstream
emerged; Henry Carey's generation after Civil War; Opponents of
Protectionists; Generalists.
James Hudnut-Beumler (2007).
In Pursuit of the Almighty’s Dollar: A History of Money and
American Protestantism. (Chapel Hill, NC: University of
North Carolina Press, 288 p.). Dean of Vanderbilt Divinity
School. Economics--Religious aspects--Christianity;
Money--Religious aspects--Christianity; Protestantism--United
States--History; Protestant churches--United States--History;
Protestant churches--Doctrines--History; Stewardship, Christian;
Money--United States--History; United States--Church history.
Economics of American
Protestantism; how economic pressures have helped shape what it
means to be faithful.
Thomas P. Hughes (1989).
American Genesis: A Century of Invention and Technological
Enthusiasm, 1870-1970. (New York, NY: Viking, 529 p.).
Technology--United States--History.
Jonathan Hughes, Louis P. Cain (2003).
American Economic History. (Boston, MA: Addison Wesley,
666 p. [6th ed.]). United States--Economic conditions.
James L. Huston (2003).
Calculating the Value of the Union: Slavery, Property Rights,
and the Economic Origins of the Civil War. (Chapel Hill,
NC: University of North Carolina Press, 394 p.). Professor of
history (Oklahoma State University). Slavery--Economic
aspects--United States--History; Right of property--United
States--History; United States--History--Civil War,
1861-1865--Causes; United States--History--Civil War,
1861-1865--Economic aspects. Property rights, as they
pertained to slavery, was at center of Civil War.
ed. Jerry Jasinowski (1998).
The Rising Tide: The Leading Minds of Business and Economics
Chart a Course Toward Higher Growth and Prosperity. (New
York, NY: Wiley, 274 p.). Economic development; Competition,
International; United States--Economic policy--1993-.
Walter W. Jennings (1928). Introduction to
American Economic History. (New York, NY: Thomas Y. Crowell
Company, 546 p.). United States--Economic conditions.
Ed. Richard R. John (2006).
Ruling Passions: Political Economy in Nineteenth-Century America. (University
Park, PA, Pennsylvania State University Press, p.). Professor of
History (University of Illinois, Chicago).United States
--Economic conditions --To 1865; United States --Economic
conditions --1865-1918; United States --Economic policy --To
1933; United States --Politics and government --19th century.
Edgar Augustus Jerome Johnson (1961).
American Economic Thought in the Seventeenth Century. (New
York, NY: Russell & Russell, 292 p. [orig. pub. 1932]).
Economics--United States--History.
--- (1973).
The Foundations of American Economic Freedom; Government and
Enterprise in the Age of Washington. (Minneapolis, MN:
University of Minnesota Press, 335 p.). Industrial
policy--United States--History; Free enterprise; United
States--Economic policy.
Robert E. Kelly; foreword by Nelson Benton
(2008).
The National Debt of the United States, 1941 to 2008.
(Jefferson, NC: McFarland & Co., 393 p.). Debts, Public --United
States; Budget deficits --United States; Government spending
policy --United States. Administrations of 12 presidents (Roosevelt through George W.
Bush), annual budget deficits, interest expenses that fed
national debt are examined in detail; what areas of government
incurred overspending, how much was overspent.
Edward C. Kirkland (1961).
Industry Comes of Age: Business, Labor, and Public Policy,
1860-1897. (New York, NY: Holt, Rinehart and Winston,
445 p.). United States--Economic conditions. Series: The
Economic history of the United States.
--- (1969).
A History of American Economic Life. (New York, NY:
Appleton-Century-Crofts, 623 p. [4th ed.]). Business Historian.
United States--Economic conditions.
Anne Kelly Knowles (1997).
Calvinists Incorporated: Welsh Immigrants on Ohio’s Industrial
Frontier. (Chicago, IL: University of Chicago Press, 330
p.). Lecturer in Geography at the Institute of Earth Studies
(University of Wales, Aberystwyth). Welsh
Americans--Ohio--Ethnic identity--Case studies;
Calvinists--Ohio--Case studies; Industrialization--Ohio--Jackson
County--History--19th century; Industrialization--Ohio--Gallia
County--History--19th century; Capitalism--Ohio--Jackson
County--History--19th century; Capitalism--Ohio--Gallia
County--History--19th century; Ohio--Historical geography--Case
studies; Jackson County (Ohio)--Economic conditions; Gallia
County (Ohio)--Economic conditions; Cardiganshire
(Wales)--Emigration and immigration--History--19th century.
Rural capitalist
transformation, immigrants became involved with
industrialization of region as workers, investors in Welsh-owned
charcoal iron companies; how these strict Calvinists responded
to moral dilemmas posed by leaving native land, experiencing
economic success in United States.
George Kozmetsky and Piyu Yue (2005).
The Economic Transformation of the United States, 1950-2000:
Focusing on the Technological Revolution, the Service Sector
Expansion, and the Cultural, Ideological, and Demographic
Changes. (West Lafayette, IN: Purdue University Press,
493 p.). United States--Economic conditions--20th century;
United States--Economic conditions--20th century--Statistics.
Herman E. Krooss (1970).
Executive Opinion; What Business Leaders Said and Thought on
Economic Issues, 1920s-1960s. (Garden City, NY:
Doubleday, 438 p.). Businesspeople--United States;
Executives--United States.
--- (1974).
American Economic Development; The Progress of a Business
Civilization. (Englewood Cliffs, NJ: Prentice-Hall, 564
p.). United States--Economic conditions.
Stanley Lebergott (1964).
Manpower in Economic Growth; The American Record Since 1800.
(New York, NY: McGraw-Hill, 561 p.). Manpower--United
States--History; Labor economics. Labor force (people) at center of
economic history; demand, supply of labor is central focus;
fundamental data (estimates of labor force, industrial
composition, unemployment, real wages, self-employment) relied
on by economic historians since published.
Harold C. Livesay (1979).
American Made: Men Who Shaped the American Economy.
(Boston, MA: Little, Brown, 310 p.). Businessmen -- United
States -- Biography.
Jeffrey Madrick (1997).
The End of Affluence: The Causes and Consequences of America's
Economic Dilemma. (New York, NY: Random House, 223 p.).
Former Economics Reporter (NBC). United States--Economic
conditions--1971-1981; United States--Economic
conditions--1981-.
Eds. John W. Malsberger, James N. Marshall (2008).
The American Economic History Reader: Documents and Readings.
(New York, NY: Routledge, 556 p.). Department Chair Professor of
History (Muhlenberg College); Professor of Accounting, Business
& Economics (Muhlenberg College). Economics --United States
--History; United States --Economic conditions; United States
--Economic policy. Colonial period to present; 65 primary documents, 33 essays, 13 chapters
(just over half cover post-1900 topics): 1) mercantilism and the colonial economy; 2) the
economy of the new nation; railroads; slavery; 3) labor in
industrializing America; 4) the rise of big business; 5) the New
Era of the 1920s; 6) the Great Contraction; 7) the New Deal,
World War II, and Keynes;8) the postwar Keynesian consensus; 9)
the collapse of that consensus in 1969-1980; 10) Reaganomics;
11) Clintonomics.
Ed. Deidre N. McCloskey (1993).
Second Thoughts: Myths and Morals of U.S. Economic History.
(New York, NY: Oxford University Press, 208 p.). Academic.
United States--Economic conditions; United States--Economic
policy.
Robert A. McGuire (2003).
To Form a More Perfect Union: A New Economic Interpretation of
the United States Constitution. (New York, NY: Oxford
University Press, 395 p.). United States. Constitutional
Convention (1787); United States. Constitution--Economic
aspects; Constitutional history--United States; Constitutional
law--Economic aspects--United States; Economic liberties (U.S.
Constitution); United States--Economic conditions--To 1865.
Richard B. McKenzie (1994).
What Went Right in the 1980s. (San Francisco, CA:
Pacific Research Institute for Public Policy, 397 p.).
Professor, Economics and Walter B. Gerken Chair of Enterprise &
Society (University of California, Irvine). Economic
indicators--United States; United States--Economic
conditions--1981-2001. 1980s weren't decade of greed: charitable giving rose
dramatically, employment spiraled upward; balancing of conventional (contrasting) wisdom.
David R. Meyer (2003).
The Roots of American Industrialization. (Baltimore, MD:
Johns Hopkins University Press, 333 p.). Professor of Sociology
and Urban Studies (Brown University). Industrialization--United
States--History--19th century.; United States--Economic
conditions--To 1865. How
eastern United States made successful transformation from
agricultural to industrial economy - 1) 1790 - 1820; 2)
1820 - 1860; agriculture and industry were mutually reinforcing.
Broadus Mitchell (1947).
Depression Decade; From New Era Through New Deal, 1929-1941.
(New York, NY: Rinehart, 462 p.). Depressions--1929--United
States; New Deal, 1933-1939; United States--Economic
conditions--1918-1945.
Marina Moskowitz (2004).
Standard of Living: The Measure of the Middle Class in Modern
America. (Baltimore, MD: Johns Hopkins University Press,
300 p.). Lecturer in History, Director of the Andrew Hook Centre
for American Studies (University of Glasgow). Middle
class--United States--History; Cost and standard of
living--United States--History.
David C. Mowery, Nathan Rosenberg (1998).
Paths of Innovation: Technological Change in 20th Century
America. (New York, NY: Cambridge University Press, 214
p.). Technology--United States--History--20th century; Internal
combustion engines--United States--History--20th century;
Electric engineering--United States--History--20th century;
Chemical engineering--United States--History--20th century.
ed. David C. Mowery (1999).
U.S. Industry in 2000: Studies in Competitive Performance.
(Washington, DC: National Academy Press, 411 p.).
Industries--United States--Forecasting--Congresses; Economic
forecasting--United States--Congresses; United States--Economic
conditions--1981---Congresses.
Allan Nevins (1927).
The Emergence of Modern America, 1865-1878. (New York,
NY: Macmillan, 446 p.). United States--Economic conditions;
United States--Social conditions; United States--Civilization.
Albert W. Niemi, Jr. (1975).
U.S. Economic History: A Survey of the Major Issues.
(Chicago, IL: Rand McNally College Pub. Co.,, 361 p.). United
States--Economic conditions.
Joao F. Normano (1943). The Spirit of
American Economics; A Study in the History of Economic Ideas in
the United States Prior to the Great Depression. (New York,
NY: John Day Company, 252 p.). Economics--United
States--History; Economics--Canada--History.
Douglass C. North and Lance E. Davis (1971).
Institutional Change and American Economic Growth. (New
York, NY: Cambridge University Press, 282 p.). United
States--Economic conditions; United States--Economic
conditions--Mathematical models.
Bernard D. Nossiter (1990).
Fat Years and Lean: The American Economy Since Roosevelt.
(New York, NY: Harper & Row, 271 p.). United States--Economic
conditions--1918-1945; United States--Economic
conditions--1945-; United States--Economic policy.
Brendan O'Flaherty (1996).
Making Room: The Economics of Homelessness.
(Cambridge, MA: Harvard University Press, 349 p.).
Professor of Economics (Columbia University).
Homelessness --United States; Homelessness --Canada;
Housing --United States; Housing --Canada; Housing
policy --United States; Housing policy --Canada.
Economic analysis of homelessness (six
cities) - about markets; new homelessness trend (started in 1980s)
- response
to changes in housing market, linked to widening gap in
incomes of rich, poor, accompanied by rising rents for
poor people, continued housing abandonment; resulting
shrinkage in size of middle class, fewer hand-me-downs
for poor, higher rents for available low-quality
housing; differing rates of homelessness in North
America, Europe, from one city to next, interesting
changes in composition of homeless populations;
distinction between homeless people on streets every
day, those "officially" counted as homeless.
Brendan O'Flaherty (2005).
City Economics. (Cambridge, MA: Harvard University
Press, 587 p.). Professor of Economics (Columbia University).
Urban economics; Urban policy; Sociology, Urban.
Verbal,
geometric, arithmetic analysis of economics of
cities.
Michael J. Panzner (2009).
When Giants Fall: An Economic Roadmap for the End of the
American Era. (Hoboken, NJ: Wiley, 264 p.). FT
Knowledge/New York Institute of Finance faculty member.
International economic relations --21st century; Natural
resources; Geopolitics --21st century; Balance of power;
United States --Economic conditions --21st century.
Coming age of post-American dominance in perspective,
far-reaching effects on lives, economic
opportunities; how widespread
economic changes will impact
businesses, investors; why individuals will be forced to
rethink livelihoods, lifestyles, living arrangements;
key economic, political, geopolitical, social issues to
realities of earning a living, protecting, preserving
wealth, running a business, looking after loved ones;
achieve financial security, stability in increasingly
uncertain, dangerous world.
Randall E. Parker (2007).
The Economics of the Great Depression: A Twenty-First Century
Look Back at the Economics of the Interwar Era.
(Cheltenham, UK: Edward Elgar, 257 p.). Professor of Economics
(East Carolina University). Depressions--1929--United States;
United States--Economic conditions--1918-1945.
Evolution, current state of
economic literature on Great Depression: status of
remaining debates, what economists do, do not know about
economics of interwar era, new directions economic research is
taking to better understand.
ed. Edwin J. Perkins (1977).
Men and Organizations: The American Economy in the Twentieth
Century. (New York, NY: Putnam, 201 p.). United
States--Economic conditions.
Edwin J. Perkins (1988).
The Economy of Colonial America. (New York, NY: Columbia
University Press, 251 p. [2nd ed.]). United States--Economic
conditions--To 1865.
Edwin J. Perkins and Gary M. Walton (1985).
A Prosperous People: The Growth of the American Economy.
(Englewood Cliffs, NJ: Prentice-Hall, 240 p.). United
States--Economic conditions.
ed. George L. Perry, James Tobin (2000).
Economic Events, Ideas, and Policies: The 1960s and After.
(Washington, DC: Brookings Institution Press, 365 p.). United
States--Economic policy--1961-1971; United States--Economic
policy; Money--Europe--History--20th century; United
States--Economic conditions--1961-1971; United States--Economic
conditions.
Ed. Glenn Porter (1980).
Encyclopedia of American Economic History: Studies of the
Principal Movements and Ideas. (New York, NY: Scribner,
3 vols.; 1,286 p.). United States--Economic conditions.
Contents: Chandler, A. D. Rise and evolution of big business;
Vernon, R. and Wortzel, H. Multinational enterprise; Tedlow, R.
S. Advertising and public relations; Baughman, J. P. Management.
Barry W. Poulson (1981).
Economic History of the United States. (New York, NY:
Macmillan, 672 p.). Professor of Economics (University of
Colorado). United States--Economic conditions.
Clyde Prestowitz (2010).
The Betrayal of American Prosperity: Free Market Delusions,
America’s Decline, and How We Must Compete in the Post-Dollar
Era. (New York, NY, Free Press, 288 p.). Founder of
the Economic Strategy Institute. United States --Economic
policy; United States --Economic conditions --21st century;
United States --Commercial policy; United States --Foreign
economic relations --China; China --Foreign economic relations
--United States. Erosion
of fundamental pillars of American economic economic might,
leadership started well before 2008 financial crisis - supported
home industries, protected market against unfair trade, made
world’s finest products, led technological innovation, strong
savers; post-WWII - consumption, not production drove economy;
free trade always a win-win; all globalization is good; market
is always right, government regulation or intervention in
economy always causes more harm than good; didn’t matter that
factories fled overseas (moving to "higher ground" of services);
flawed orthodoxy gutted American economy (2008 financial crisis
only most blatant, recent consequence); great challenge in
competing with economic juggernaut of China, other fast-rising
economies; dramatic changes to confront painful permanent slide
in standard of living; dollar will no longer world’s currency;
military strength whittled away; increasingly subject to will of
China, Russia, Saudi Arabia, various malcontents.
Roger L. Ransom, Richard Sutch (2001).
One Kind of Freedom: The Economic Consequences of Emancipation.
(New York, NY: Cambridge University Press, 458 p. [2nd ed.]).
Professor of History and Economics (University of California,
Riverside); Distinguished Professor of Economics (University of
California, Riverside). Afro-Americans--Southern
States--Economic conditions; Southern States--Economic
conditions; Southern States--History--1865-1951.
Best introduction to early post-emancipation, post-bellum, economy of the
South; economic institutions that replaced slavery, conditions
under which ex-slaves were allowed to enter economic life of
United States following the Civil War.
Sidney Ratner, James H. Soltow, Richard Sylla
(1993).
The Evolution of the American Economy: Growth, Welfare, and
Decision Making. (New York, NY: Macmillan, 599 p.).
United States--Economic conditions; United States--Economic
policy.
Heather Cox Richardson (1997).
The Greatest Nation of the Earth: Republican Economic Policies
During the Civil War. (Cambridge, MA: Harvard University
Press, 342 p.). Associate Professor, Department of History
(University of Massachusetts). Republican Party (U.S. : 1854-
)--History; United States--Economic policy--To 1933; United
States--Economic conditions--To 1865; United
States--History--Civil War, 1861-1865.
Hugh Rockoff (1984).
Drastic Measures: A History of Wage and Price Controls in the
United States. (New York, NY: Cambridge University
Press, 289 p.). Wage-price policy--United States--History.
Nathan Rosenberg (1972).
Technology and American Economic Growth. (New York, NY:
Harper & Row, 211 p.). Technological innovations--United
States--History.
Nathan Rosenberg & L.E. Birdzell, Jr. (1986).
How the West Grew Rich: The Economic Transformation of the
Industrial World. (New York, NY: Basic Books, 353 p.).
Capitalism--History; Economic history; Europe--Economic
conditions; United States--Economic conditions.
Samuel Rosenberg (2003).
American Economic Development Since 1945: Growth, Decline, and
Rejuvenation. (New York, NY: Palgrave Macmillan, 339
p.). United States--Economic conditions--1945-; United
States--Economic policy.
Todd Sandler and Keith Hartley (1995).
The Economics of Defense. (New York, NY: Cambridge
University Press, 387 p.). Robert R. and Katheryn A. Dockson
Chair of International Relations and Economics (University of
Southern California); Professor of Economics and Director,
Centre for Defence Economics (University of York, UK). Economic
conversion--United States; United States--Defenses--Economic
aspects; United States--Military policy. Economic analysis of defense and
peace issues.
Steven A. Sass (1986). Entrepreneurial
Historians and History: Leadership and Rationality in American
Economic Historiography, 1940-1960. (New York, NY: Garland,
301 p.). Economic history--Research--United States; United
States--Economic conditions--Historiography. Series: American
business history.
eds. Bruce R. Scott and George C. Lodge
(1985).
U.S. Competitiveness in the World Economy. (Boston, MA:
Harvard Business School Press, 543 p.). Competition,
International; United States--Foreign economic relations.
Ronald E. Seavoy (2006).
An Economic History of the United States: From 1607 to the
Present. (New York, NY: Routledge, 368 p.). United
States--Economic conditions. 1607 to the modern age,
documented history of how the American economy has propelled the
nation into a position of world leadership.
Tom Shachtman (1997).
Around the Block: The Business of a Neighborhood. (New
York, NY: Harcourt Brace, 325 p.). Small business--Social
aspects--New York (State)--New York--Case studies;
Neighborhood--New York (State)--New York--Case studies; Chelsea
(Manhattan, New York, N.Y.).
George Shea and edited by Alfred L. Malabre,
Jr. (1968).
Forty Years on Wall Street; Appraisals of the Economic Scene.
(Princeton, NJ: Dow Jones, 254 p.). United States--Economic
conditions.
"Adam Smith" (1990). The Roaring 80's.
(New York, NY: Penguin, 303 p. (orig. pub. 19880). Economic
history--1971-1990; United States--Economic conditions--1981-.
Page Smith (1990).
The Rise of Industrial America: A People's History of the
Post-Reconstruction Era. (New York, NY: Penguin, 965 p.
[orig. pub. 1984]). United States--History--1865-1898.
Walter Buckingham Smith and Arthur Harrison
Cole (1969).
Fluctuations in American Business, 1790-1860. (New York,
NY: Russell & Russell, 195 p. [orig. pub. 1935]). Prices--United
States--History; United States--Economic conditions--To 1865.
Robert L. Smitley (1933).
Popular Financial Delusions. (Philadelphia, PA: Ronald
Swain Co., 338 p.). Economics--Miscellanea; Finance--United
States; United States--Economic conditions--1918-1945.
Robert Sobel (2000).
The Great Boom, 1950-2000: How a Generation of Americans Created
the World's Most Prosperous Society. (New York, NY: St.
Martin's Press, 450 p.). Professor (Hofstra University).
Veterans--United States; United States--Economic
conditions--1945-; United States--Social conditions--1945-.
Steve Solomon (1986). Small Business USA:
The Role of Small Companies in Sparking America's Economic
Transformation. (New York, NY: Crown, 358 p.). Small
business--United States.
George Henry Soule (1947).
Prosperity Decade; From War to Depression: 1917-1929.
(New York, NY: Rinehart, 365 p.). United States--Economic
conditions--1918-1945.
--- (1952).
Economic Forces in American History. (New York, NY:
Sloane, 568 p.). United States--Economic conditions.
Thomas A. Stapleford (2009).
The Cost of Living in America: A Political History of Economic
Statistics, 1880-2000.
(New York, NY, Cambridge University Press, 421 p.). Assistant
Professor in the Program of Liberal Studies (University of Notre
Dame). Cost and standard of living -- United States --
History. Inside Bureau of Labor Statistics; Consumer Price Index
- history, context; account of quantitative knowledge that
underpins much of American political economy; choices made in
constructing, using cost-of-living statistics, why those choices
matter for understanding American history, contemporary
political and economic life; process of determining what it cost
to live in America deeply political, contested over course of
twentieth century.
Benn Steil and Robert E. Litan (2006).
Financial Statecraft: The Role of Financial Markets in American
Foreign Policy. (New Haven, CT: Yale University Press,
208 p.). Director of International Economics at the Council on
Foreign Relations; vice president of research and policy at the
Kauffman Foundation and senior fellow in the Economic Studies
Program at the Brookings Institution. Financial institutions
--United States; Capital movements --Government policy --United
States; International finance; International relations; United
States --Foreign relations. Aspects of economic statecraft
directed at influencing international capital flows; nearly $2
trillion worth of currency moves cross-border every day (roughly
90% accounted for by financial flows unrelated to trade in
goods, services—a stunning inversion of figures in 1970); how
precisely has American government practiced financial
statecraft? how effectively? how be more effective?
Herbert Stein (1986).
Washington Bedtime Stories : The Politics of Money and Jobs.
(New York, NY: Free Press, 381 p.). U.S. Economic Policy,
1981-1993, 1993-; Finance-Public.
--- (1994).
Presidential Economics: The Making of Economic Policy from
Roosevelt to Clinton. (Washington, DC: AEI Press
(American Enterprise Institute for Public Policy Research), 3 rd
ed., 495 p.). Economic Policy, U.S. Government 1933-1945,
1945-1989, 1989-, Presidents-History 20th Century.
Herbert Stein & Murray Foss (1995).
The New Illustrated Guide to the American Economy.
(Washington, DC: AEI Press, Publisher for the American
Enterprise Institute, 273 p.). United States--Economic
conditions--1981.
Judith Stein (2010).
Pivotal Decade: How the United States Traded Factories for
Finance in the Seventies. (New Haven, CT: Yale
University Press, 367 p.). Professor of History (City College
and Graduate Center of the City University of New York).
Keynesian economics; Financial institutions --United States;
United States --Economic policy --1971-1981; United States
--Politics and government --1969-1974; United States --Politics
and government --1974-1977; United States --Politics and
government --1977-1981. 1970s- end of age
of factory; era of postwar liberalism,
created by New Deal - practices, high wages, regulated capital
produced robust economic growth, greater income equality; high
oil prices, economic competition from Japan,
Germany battered American economy, required new policies; war
waged against inflation, not against unemployment;
government promoted balanced budget instead of growth; beginning
of age of finance, subsequent deregulation, free trade, low
taxation, weak unions that has fostered inequality, now worst
recession in sixty years.
Joseph E. Stiglitz (2003).
The Roaring Nineties: A New History of the World's Most
Prosperous Decade. (New York, NY: Norton, 256 p.). 2001
Nobel Prize Winner (Economics), Chairman of Clinton's Council of
Economic Advisers, Chief Economist (World Bank). Enron
Corp.--Accounting; Globalization; United States--Economic
conditions--1981-2001; United States--Economic
policy--1993-2001.
Steven Stoll (2008).
The Great Delusion: A Mad inventor, Death in the Tropics, and
the Utopian Origins of Economic Growth. (New York, NY:
Hill and Wang, 210 p.). Associate Professor of History (Fordham
University). Etzler, J. A. (John Adolphus); Conservation of
natural resources --United States --History; Utopias --United
States --History; United States --Economic conditions.
Endless
economic growth rests on belief in limitless abundance of
natural world. Life of strange, brooding 19th-century German
engineer, technological utopian who pursued universal wealth
from inexhaustible forces of nature; economic growth as we know it, not as measured by gross
domestic product, but as expectation that society depends on
continued physical expansion in order to survive.
George Rogers Taylor (1989).
The Transportation Revolution 1815-1860. (Armonk. NY:
M.E. Sharpe, 490 p. [orig. pub. 1951]). Transportation--United
States--History--19th century; United States--Economic
conditions--To 1865.
Andrew Tobias (1980).
Getting by on $100,000 a Year, and Other Sad Tales. (New
York, NY: Simon & Schuster, 264 p.). Finance, Personal;
Business; United States--Economic conditions--1971-1981.
Charles Manfred Thompson and Fred Mitchell
Jones (1939).
Economic Development of the United States: A First Course.
(New York, NY: Macmillan, 794 p.). United States--Economic
conditions; United States--Economic policy.
Alvin Toffler and Heidi Toffler (2006).
Revolutionary Wealth. (New York, NY: Knopf, 492 p.).
Economic forecasting; Wealth; Social change; Social prediction;
Economic history--1945- ; Social history--1945- ; Civilization,
Modern--1950-Twenty-first century--Forecasts.
How tomorrow’s wealth will be
created, who will get it, how; not just about money,
cannot be understood in terms of industrial-age economics.
Lynn Turgeon (1996).
Bastard Keynesianism: The Evolution of Economic Thinking and
Policymaking Since World War II. (Westport, CT:
Greenwood Press, 156 p.). Keynesian economics; United
States--Economic policy; United States--Economic
conditions--1945-.
Thurman W. Van Metre (1921). Economic
History of the United States. (New York, NY: Holt, 672 p.).
United States--Economic policy; United States--Economic
conditions--1918-1945.
Harold G. Vatter (1963).
The U.S. Economy in the 1950's; An Economic History.
(New York, NY: Norton, 308 p.). American Economic History and
the History of Economic Thought (Portland State University).
United States--Economic conditions--1945-.
--- (1975).
The Drive to Industrial Maturity: The U. S. Economy, 1860-1914.
(Westport, CT: Greenwood Press, 368 p.). American Economic
History and the History of Economic Thought (Portland State
University). Industries--United States; United
States--Economic conditions--1865-1918; United States--Economic
conditions--To 1865.
--- 1985).
The U.S. Economy in World War II. (New York, NY:
Columbia University Press, 198 p.). American Economic History
and the History of Economic Thought (Portland State University).
United States--Economic conditions--1918-1945; United
States--Economic conditions--1945-; United States--Economic
policy--1933-1945; United States--Economic policy--1945-1960.
Eds. Harold G. Vatter and John F. Walker
(1996).
History of the U.S. Economy Since World War II. (Armonk,
NY: M.E. Sharpe, 499 p.). United States--Economic
conditions--1945- ; United States--Economic policy.
Gary M. Walton and Hugh Rockoff (2004).
History of the American Economy. (Fort Worth, TX: Dryden
Press, 640 p. [10th ed.]). United States--Economic conditions.
Wyatt C. Wells (2003).
American Capitalism, 1945-2000: Continuity and Change from Mass
Production to the Information Society. (Chicago, IL:
Ivan R. Dee, 224 p.). Distinguished Research Associate Professor
of History (Auburn University, Montgomery). United
States--Economic conditions--1945-; United States--Economic
policy.
Chester W. Wright (1949).
Economic History of the United States. (New York, NY:
McGraw-Hill, 941 p. [2nd ed.]). United States--Economic
conditions.
Gavin Wright (1978).
The Political Economy of the Cotton South: Households, Markets,
and Wealth in the Nineteenth Century. (New York, NY:
Norton, 205 p.). Cotton trade--Southern States--History;
Southern States--Economic conditions.
--- (1996).
Old South, New South: Revolutions in the Southern Economy since
the Civil War. (Baton Rouge, LA: Louisiana State
University Press, 321 p.). Industries--Southern States--History;
Southern States--Economic conditions.
Gavin Wright (2006).
Slavery and American Economic Development. (Baton Rouge,
LA: Louisiana State University Press, 162 p.). William Robertson
Coe Professor in American Economic History (Stanford
University). Slavery--Economic aspects--United States; Right of
property--United States--History.; United States--Economic
conditions--To 1865. Slavery as set of property rights which vested slave's human
capital in slave owner rather than slave. Property rights,
not personhood, defined system; rejection of former in favor of
latter ultimately distinguished North from South with respect to
labor.
Robert E. Wright (2008).
One Nation Under Debt: Hamilton, Jefferson, and the History of
What We Owe. (New York, NY: McGraw-Hill, 419 p.).
Teaches Financial History at Stern School of Business (New York
University), Curator for the Museum of American Finance. Debts,
Public -- United States; Budget deficits -- United States;
Government spending policy -- United States. America's first national debt
arose from immense sums needed to conduct American Revolution;
key events that shaped U.S. financial system; how actions of
forefathers laid groundwork for today's debt; how political
leaders accumulated massive new debts to ensure popularity;
critical evolutionary developments how, by end of Andrew
Jackson's administration, America's financial system contributed
to national growth while new national, state debts amassed,
sealed fate for future generations.
Andrew L. Yarrow (2010).
Measuring America: How Economic Growth Came To Define American
Greatness in the Late Twentieth Century. (Amherst,
MA: University of Massachusetts Press, 240 p.). Vice President
and Washington Director of Public Agenda. Economics -- United
States -- Sociological aspects; Public opinion -- United States;
Nationalism -- United States; United States -- Economic
conditions -- 20th century; United States -- Social conditions
-- 20th century. Rise of economic thinking
in U.S. after World War II; how economic ideas came to have
vastly greater influence on American culture, how those ideas
dovetailed with growing belief that meaning and
value of United States resided in its material outpu; how, why
this new way of “measuring America” developed, how it was
expressed, what it has meant, means for Americans today.
Thomas W. Zeiler (1992).
American Trade and Power in the 1960’s. (New York, NY:
Columbia University Press, 371 p.). United States--Commercial
policy--History--20th century; United
States--Commerce--History--20th century; United States--Economic
conditions--1961-1971.
_______________________________________________________________
U. S. Business
Cycle Expansion/Contractions (1854-2007)
http://wwwdev.nber.org/cycles/cyclesmain.html
Business Cycle Dating Committee of the National Bureau of
Economic Research (contractions [recessions] start at the peak
of a business cycle and end at the trough; prior to 1979, there
were no formal announcements of business cycle turning points).
The NBER does not define a recession in terms of two consecutive
quarters of decline in real GDP. Rather, a recession is a
significant decline in economic activity spread across the
economy, lasting more than a few months, normally visible in
real GDP, real income, employment, industrial production, and
wholesale-retail sales.
United States Misery Index
www.miseryindex.us
The misery index was initiated by economist Arthur Okun, an
adviser to President Lyndon Johnson in the 1960's. It is simply
the unemployment rate added to the inflation rate. It is assumed
that both a higher rate of unemployment and a worsening of
inflation both create economic and social costs for a country. A
combination of rising inflation and more people of out of work
implies a deterioration in economic performance and a rise in
the misery index.
U. S. Economy at a Glance
http://stats.bls.gov/eag/
Six months of key economic data displayed in an easy-to-use
format, including unemployment rate, average hourly earnings,
consumer price index, producer price index, U.S. import price
index, and productivity. Provides economic data charts for each
state as well as links to Bureau of Labor Statistics reports.
Subjects: United States -- Economic conditions.
What Was the GDP
Then?
http://www.eh.net/hmit/gdp/
Gross Domestic Product (GDP) is the market value of all final
goods and services produced within a country during a given time
period. There are two ways to measure GDP: 1) Nominal GDP is the
dollar value of production at current-year prices. For example,
nominal GDP in 1990, $5,803 billion, is calculated using year
1990 prices for goods and services; 2) Real GDP is the dollar
value of production using a given base year prices. For example,
real GDP in 1990, $7,112 billion in year 2000 dollars, is
calculated using 2000 prices for goods and services. Five values
can be determined for any year, or range of years, between 1790
and 2005: Nominal GDP, Real GDP, GDP Deflator, Population
Nominal GDP per capita, Real GDP per capita.
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