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| economic impact of the civil war: The Economic Effects of the American Civil War Patrick Karl O'Brien, 1988 This is a critical survey of contemporary historical research into the connection between the American Civil War and the long term Economic Growth of the United States. The central focus is on the methods used by economic historians to quantify the economic effects of drastic changes in taxation, government borrowing, and military expenditure, the destruction of human and physical capital, and the demise of slavery, which resulted from the war. |
| economic impact of the civil war: The Impact of the English Civil War on the Economy of London, 1642–50 Ben Coates, 2017-03-02 When the English Civil War broke out, London’s economy was diverse and dynamic, closely connected through commercial networks with the rest of England and with Europe, Asia and North America. As such it was uniquely vulnerable to hostile acts by supporters of the king, both those at large in the country and those within the capital. Yet despite numerous difficulties, the capital remained the economic powerhouse of the nation and was arguably the single most important element in Parliament’s eventual victory. For London’s wealth enabled Parliament to take up arms in 1642 and sustained it through the difficult first year and a half of the war, without which Parliament’s ultimate victory would not have been possible. In this book the various sectors of London’s economy are examined and compared, as the war progressed. It also looks closely at the impact of war on the major pillars of the London economy, namely London’s role in external and internal trade, and manufacturing in London. The impact of the increasing burden of taxation on the capital is another key area that is studied and which yields surprising conclusions. The Civil War caused a major economic crisis in the capital, not only because of the interrelationship between its economy and that of the rest of England, but also because of its function as the hub of the social and economic networks of the kingdom and of the rest of the world. The crisis was managed, however, and one of the strengths of this study is its revelation of the means by which the city’s government sought to understand and ameliorate the unique economic circumstances which afflicted it. |
| economic impact of the civil war: The Political Economy of War and Peace Murray Wolfson, 2012-12-06 cancer n. any malignant tumor . . . Metastasis may occur via the bloodstream or the lymphatic channels or across body cavities . . . setting up secondary tumors . . . Each individual primary tumor has its own pattern . . . There are probably many causative factors . . . Treatment. . . depends on the type of tumor, the site of the primary tumor and the extent of the spread. (Oxford Concise Medical Dictionary 1996, 97) Let us begin by stating the obvious. Acts of organized violence are not necessarily of human nature, but they are endogenous events arising within the an intrinsic part evolution of complex systems of social interaction. To be sure, all wars have features in common - people are killed and property is destroyed - but in their origin wars are likely to be at least as different as the social structures from which they arise. Consequently, it is unlikely that there can be a simple theory of the causes of war or the maintenance of peace. The fact that wars are historical events need not discourage us. On the contrary, we should focus our understanding of the dimensions of each conflict, or classes of conflict, on the conjuncture of causes at hand. It follows that the study of conflict must be an interdisciplinary one. It is or a penchant for eclecticism that leads to that conclusion, but the not humility multi-dimensionality of war itself. |
| economic impact of the civil war: Modernizing a Slave Economy John Majewski, 2011-04-01 What would separate Union and Confederate countries look like if the South had won the Civil War? In fact, this was something that southern secessionists actively debated. Imagining themselves as nation builders, they understood the importance of a plan for the economic structure of the Confederacy. The traditional view assumes that Confederate slave-based agrarianism went hand in hand with a natural hostility toward industry and commerce. Turning conventional wisdom on its head, John Majewski's analysis finds that secessionists strongly believed in industrial development and state-led modernization. They blamed the South's lack of development on Union policies of discriminatory taxes on southern commerce and unfair subsidies for northern industry. Majewski argues that Confederates' opposition to a strong central government was politically tied to their struggle against northern legislative dominance. Once the Confederacy was formed, those who had advocated states' rights in the national legislature in order to defend against northern political dominance quickly came to support centralized power and a strong executive for war making and nation building. |
| economic impact of the civil war: Tariffs, Blockades, and Inflation Mark Thornton, Robert Burton Ekelund, 2004 What role did economics play in leading the United States into the Civil War in the 1860s, and how did the war affect the economies of the North and the South? Tariffs, Blockades, and Inflation uses contemporary economic analyses such as supply and demand, modern market theory, and the economics of politics to interpret events of the Civil War. Simplifying the sometimes complex intricacies of the subject matter, Thornton and Ekelund have penned a nontechnical primer that is jargon-free and accessible. Tariffs, Blockades, and Inflation also takes a comprehensive approach to its topic. It offers a cohesive and a persuasive explanation of the how, what, and why behind the many factors at work on both sides of the contest. While most books only delve into a particular aspect of the war, this title effectively bridges the gap by offering an all-encompassing, yet relatively brief, introduction to the essential economics of the Civil War. This book starts out with a look at the reasons for the beginning of the Civil War, including explaining why the war began when it did. It then examines the economic realities in both the North and South. Also covered are the different financial strategies implemented by both the Union and the Confederacy to fund the war and the reasons behind what ultimately led to Southern defeat. Finally, the economic effect of Reconstruction is discussed, including the impact it had on the former slave population. Thornton and Ekelund have contributed an overdue examination of the Civil War that will impart to students a modern way to better comprehend the conflict. Tariffs, Blockades, and Inflation offers fresh, penetrating insights into this pivotal event in American history. |
| economic impact of the civil war: The Economics of World War I Stephen Broadberry, Mark Harrison, 2005-09-29 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. |
| economic impact of the civil war: The Rise and Fall of American Growth Robert J. Gordon, 2017-08-29 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. |
| economic impact of the civil war: Conflict and Compromise Roger L. Ransom, 1989-09-29 In this book Professor Roger Ransom examines the economic and political factors that led to the attempt by Southerners to dissolve the Union in 1860, and the equally determined effort of Northerners to preserve it. Ransom argues that the system of capitalist slavery in the South not only caused the Civil War by producing tensions that could not be resolved by compromise; it also played a crucial role in the outcome of that war by crippling the southern war effort at the same time that emancipation became a unifying issue for the North. Ransom also carefully examines the impact that four years of war and the emancipation of slaves had both on the defeated South and the victorious North. -- From publisher's description. |
| economic impact of the civil war: Calculating the Value of the Union James L. Huston, 2003 While slavery is often at the heart of debates over the causes of the Civil War, historians are not agreed on precisely what aspect of slavery-with its various social, economic, political, cultural, and moral ramifications-gave rise to the sectional rift. |
| economic impact of the civil war: Sharing the Prize Gavin Wright, 2013-02-25 Southern bus boycotts and lunch counter sit-ins were famous acts of civil disobedience but were also demands for jobs in the very services being denied blacks. Gavin Wright shows that the civil rights struggle was of economic benefit to all parties: the wages of southern blacks increased dramatically but not at the expense of southern whites. |
| economic impact of the civil war: The Economic Consequences of the Peace John Maynard Keynes, 1920 John Maynard Keynes, then a rising young economist, participated in the Paris Peace Conference in 1919 as chief representative of the British Treasury and advisor to Prime Minister David Lloyd George. He resigned after desperately trying and failing to reduce the huge demands for reparations being made on Germany. The Economic Consequences of the Peace is Keynes' brilliant and prophetic analysis of the effects that the peace treaty would have both on Germany and, even more fatefully, the world. |
| economic impact of the civil war: The Economic Impact of Conflicts and the Refugee Crisis in the Middle East and North Africa Mr.Bjoern Rother, Ms.Gaelle Pierre, Davide Lombardo, Risto Herrala, Ms.Priscilla Toffano, Mr.Erik Roos, Mr.Allan G Auclair, Ms.Karina Manasseh, 2016-09-16 In recent decades, the Middle East and North Africa region (MENA) has experienced more frequent and severe conflicts than in any other region of the world, exacting a devastating human toll. The region now faces unprecedented challenges, including the emergence of violent non-state actors, significant destruction, and a refugee crisis bigger than any since World War II. This paper raises awareness of the economic costs of conflicts on the countries directly involved and on their neighbors. It argues that appropriate macroeconomic policies can help mitigate the impact of conflicts in the short term, and that fostering higher and more inclusive growth can help address some of the root causes of conflicts over the long term. The paper also highlights the crucial role of external partners, including the IMF, in helping MENA countries tackle these challenges. |
| economic impact of the civil war: Breaking the Conflict Trap World Bank, 2003-05-30 Civil war conflict is a core development issue. The existence of civil war can dramatically slow a country's development process, especially in low-income countries which are more vulnerable to civil war conflict. Conversely, development can impede civil war. When development succeeds, countries become safer when development fails, they experience a greater risk of being caught in a conflict trap. Ultimately, civil war is a failure of development. 'Breaking the Conflict Trap' identifies the dire consequences that civil war has on the development process and offers three main findings. First, civil war has adverse ripple effects that are often not taken into account by those who determine whether wars start or end. Second, some countries are more likely than others to experience civil war conflict and thus, the risks of civil war differ considerably according to a country's characteristics including its economic stability. Finally, Breaking the Conflict Trap explores viable international measures that can be taken to reduce the global incidence of civil war and proposes a practical agenda for action. This book should serve as a wake up call to anyone in the international community who still thinks that development and conflict are distinct issues. |
| economic impact of the civil war: Economic Impact of Selected Conflicts in the Middle East MissRanda Sab, 2014-06-11 Using narrative-based country-case studies, war episodes in the Middle East were examined to assess their economic impact on conflict and neighboring economies. The paper found that conflicts led to a contraction in growth, higher inflation, large fiscal and current account deficits, loss of reserves, and a weakened financial system. Post-conflict recovery depended on the economic and institutional development of the country, economic structure, duration of the war, international engagement, and prevailing security conditions. The net economic impact on neighboring countries varied according to their initial economic conditions, number and income level of refugees they hosted, economic integration, and external assistance. |
| economic impact of the civil war: Clash of Extremes Marc Egnal, 2010-01-05 Clash of Extremes takes on the reigning orthodoxy that the American Civil War was waged over high moral principles. Marc Egnal contends that economics, more than any other factor, moved the country to war in 1861. Drawing on a wealth of primary and secondary sources, Egnal shows that between 1820 and 1850, patterns of trade and production drew the North and South together and allowed sectional leaders to broker a series of compromises. After midcentury, however, all that changed as the rise of the Great Lakes economy reoriented Northern trade along east-west lines. Meanwhile, in the South, soil exhaustion, concerns about the country's westward expansion, and growing ties between the Upper South and the free states led many cotton planters to contemplate secession. The war that ensued was truly a clash of extremes. Sweeping from the 1820s through Reconstruction and filled with colorful portraits of leading individuals, Clash of Extremes emphasizes economics while giving careful consideration to social conflicts, ideology, and the rise of the antislavery movement. The result is a bold reinterpretation that will challenge the way we think about the Civil War. |
| economic impact of the civil war: U.S. History P. Scott Corbett, Volker Janssen, John M. Lund, Todd Pfannestiel, Sylvie Waskiewicz, Paul Vickery, 2024-09-10 U.S. History is designed to meet the scope and sequence requirements of most introductory courses. The text provides a balanced approach to U.S. history, considering the people, events, and ideas that have shaped the United States from both the top down (politics, economics, diplomacy) and bottom up (eyewitness accounts, lived experience). U.S. History covers key forces that form the American experience, with particular attention to issues of race, class, and gender. |
| economic impact of the civil war: Defending Slavery: Proslavery Thought in the Old South Paul Finkelman, 2019-12-16 This new edition of Defending Slavery: Proslavery Thought in the Old South introduces the vast number of ways in which educated Southern thinkers and theorists defended the institution of slavery. This book collects and explores the elaborately detailed pro-slavery arguments rooted in religion, law, politics, science, and economics. In his introduction, now updated to include the relationship between early Christianity and slavery, Paul Finkelman discusses how early world societies legitimized slavery, the distinction between Northern and Southern ideas about slavery, and how the ideology of the American Revolution prompted the need for a defense of slavery. The rich collection of documents allows for a thorough examination of these ideas through poems, images, speeches, correspondences, and essays. This edition features two new documents that highlight women’s voices and the role of women in the movement to defend slavery plus a visual document that demonstrates how the notion of black inferiority and separateness was defended through the science of the time. Document headnotes and a chronology, plus updated questions for consideration and selected bibliography help students engage with the documents to understand the minds of those who defended slavery. Available in print and e-book formats. |
| economic impact of the civil war: Syria’s Conflict Economy Jeanne Gobat, Ms.Kristina Kostial, 2016-09-07 Five years into the ongoing and tragic conflict, the paper analyzes how Syria’s economy and its people have been affected and outlines the challenges in rebuilding the economy. With extreme limitations on information, the findings of the paper are subject to an extraordinary degree of uncertainty. The key messages are: (1) that the devastating civil war has set the country back decades in terms of economic, social and human development. Syria’s GDP today is less than half of what it was before the war started and it could take two decades or more for Syria to return to its pre-conflict GDP levels; and that (2) while reconstructing damaged physical infrastructure will be a monumental task, rebuilding Syria’s human and social capital will be an even greater and lasting challenge. |
| economic impact of the civil war: How the South Won the Civil War Heather Cox Richardson, 2020-03-12 Named one of The Washington Post's 50 Notable Works of Nonfiction While the North prevailed in the Civil War, ending slavery and giving the country a new birth of freedom, Heather Cox Richardson argues in this provocative work that democracy's blood-soaked victory was ephemeral. The system that had sustained the defeated South moved westward and there established a foothold. It was a natural fit. Settlers from the East had for decades been pushing into the West, where the seizure of Mexican lands at the end of the Mexican-American War and treatment of Native Americans cemented racial hierarchies. The South and West equally depended on extractive industries-cotton in the former and mining, cattle, and oil in the latter-giving rise a new birth of white male oligarchy, despite the guarantees provided by the 13th, 14th, and 15th Amendments, and the economic opportunities afforded by expansion. To reveal why this happened, How the South Won the Civil War traces the story of the American paradox, the competing claims of equality and subordination woven into the nation's fabric and identity. At the nation's founding, it was the Eastern yeoman farmer who galvanized and symbolized the American Revolution. After the Civil War, that mantle was assumed by the Western cowboy, singlehandedly defending his land against barbarians and savages as well as from a rapacious government. New states entered the Union in the late nineteenth century and western and southern leaders found yet more common ground. As resources and people streamed into the West during the New Deal and World War II, the region's influence grew. Movement Conservatives, led by westerners Barry Goldwater, Richard Nixon, and Ronald Reagan, claimed to embody cowboy individualism and worked with Dixiecrats to embrace the ideology of the Confederacy. Richardson's searing book seizes upon the soul of the country and its ongoing struggle to provide equal opportunity to all. Debunking the myth that the Civil War released the nation from the grip of oligarchy, expunging the sins of the Founding, it reveals how and why the Old South not only survived in the West, but thrived. |
| economic impact of the civil war: On the Duration of Civil War Paul Collier, Anke Hoeffler, Mn?s Söderbom, 2001 The duration of large-scale violent civil conflict increases substantially if the society is composed of a few large ethnic groups, if there is extensive forest cover, and if the conflict has commenced since 1980. None of these factors affect the initiation of conflict. And neither the duration nor the initiation of conflict is affected by initial inequality or political repression. |
| economic impact of the civil war: Unequal Gains Peter H. Lindert, Jeffrey G. Williamson, 2017-12-05 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. |
| economic impact of the civil war: Confederate Reckoning Stephanie McCurry, 2012-05-07 Pulitzer Prize Finalist Winner of the Frederick Douglass Book Prize Winner of the Merle Curti Award “McCurry strips the Confederacy of myth and romance to reveal its doomed essence. Dedicated to the proposition that men were not created equal, the Confederacy had to fight a two-front war. Not only against Union armies, but also slaves and poor white women who rose in revolt across the South. Richly detailed and lucidly told, Confederate Reckoning is a fresh, bold take on the Civil War that every student of the conflict should read.” —Tony Horwitz, author of Confederates in the Attic “McCurry challenges us to expand our definition of politics to encompass not simply government but the entire public sphere. The struggle for Southern independence, she shows, opened the door for the mobilization of two groups previously outside the political nation—white women of the nonslaveholding class and slaves...Confederate Reckoning offers a powerful new paradigm for understanding events on the Confederate home front.” —Eric Foner, The Nation “Perhaps the highest praise one can offer McCurry’s work is to say that once we look through her eyes, it will become almost impossible to believe that we ever saw or thought otherwise...At the outset of the book, McCurry insists that she is not going to ask or answer the timeworn question of why the South lost the Civil War. Yet in her vivid and richly textured portrait of what she calls the Confederacy’s ‘undoing,’ she has in fact accomplished exactly that.” —Drew Gilpin Faust, New Republic “A brilliant, eye-opening account of how Southern white women and black slaves fatally undermined the Confederacy from within.” —Edward Bonekemper, Civil War News The story of the Confederate States of America, the proslavery, antidemocratic nation created by white Southern slaveholders to protect their property, has been told many times in heroic and martial narratives. Now, however, Stephanie McCurry tells a very different tale of the Confederate experience. When the grandiosity of Southerners’ national ambitions met the harsh realities of wartime crises, unintended consequences ensued. Although Southern statesmen and generals had built the most powerful slave regime in the Western world, they had excluded the majority of their own people—white women and slaves—and thereby sowed the seeds of their demise. Wartime scarcity of food, labor, and soldiers tested the Confederate vision at every point and created domestic crises to match those found on the battlefields. Women and slaves became critical political actors as they contested government enlistment and tax and welfare policies, and struggled for their freedom. The attempt to repress a majority of its own population backfired on the Confederate States of America as the disenfranchised demanded to be counted and considered in the great struggle over slavery, emancipation, democracy, and nationhood. That Confederate struggle played out in a highly charged international arena. The political project of the Confederacy was tried by its own people and failed. The government was forced to become accountable to women and slaves, provoking an astounding transformation of the slaveholders’ state. Confederate Reckoning is the startling story of this epic political battle in which women and slaves helped to decide the fate of the Confederacy and the outcome of the Civil War. |
| economic impact of the civil war: The Fourth Industrial Revolution Klaus Schwab, 2017-01-03 World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolution, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wearable sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manufacturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individuals. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frameworks that advance progress. |
| economic impact of the civil war: The Triumph of American Capitalism Louis Morton Hacker, 1940 Authorities cited in the text: pages 439-445. |
| economic impact of the civil war: The Sunshine Economy William B. Stronge, 2008 Before the Civil War, Florida's population hovered around 200,000. Over the next century, it increased dramatically, rising to just under three million by 1950. During the next fifty years, however, it exploded, increasing more than 500 percent to almost sixteen million. By the end of the twentieth century, the state had one of the nation's largest economies. The Sunshine Economy traces the development of the industries that spurred this major growth. It describes how Florida progressed from being one of the least populated states in the country, with an economy based on forestry products and open-range cattle farming, to the fourth most populated state, with an economy based on sunshine, tourism, retirement, citrus, and vegetables. William Stronge draws on the vast amount of statistical information available on Florida to tell the history of the remarkable transformation of the state's economy. His work is essential in understanding how Florida became a major national economic force. His insights highlight the significance of the tremendous reduction in transportation costs in driving much of the state's economic development. His perspectives also enrich our understanding of Florida's experiences during the Great Depression and the rampant inflation of the 1970s. |
| economic impact of the civil war: Ways and Means Roger Lowenstein, 2022-03-08 “Captivating . . . [Lowenstein] makes what subsequently occurred at Treasury and on Wall Street during the early 1860s seem as enthralling as what transpired on the battlefield or at the White House.” —Harold Holzer, Wall Street Journal “Ways and Means, an account of the Union’s financial policies, examines a subject long overshadowed by military narratives . . . Lowenstein is a lucid stylist, able to explain financial matters to readers who lack specialized knowledge.” —Eric Foner, New York Times Book Review From renowned journalist and master storyteller Roger Lowenstein, a revelatory financial investigation into how Lincoln and his administration used the funding of the Civil War as the catalyst to centralize the government and accomplish the most far-reaching reform in the country’s history Upon his election to the presidency, Abraham Lincoln inherited a country in crisis. Even before the Confederacy’s secession, the United States Treasury had run out of money. The government had no authority to raise taxes, no federal bank, no currency. But amid unprecedented troubles Lincoln saw opportunity—the chance to legislate in the centralizing spirit of the “more perfect union” that had first drawn him to politics. With Lincoln at the helm, the United States would now govern “for” its people: it would enact laws, establish a currency, raise armies, underwrite transportation and higher education, assist farmers, and impose taxes for them. Lincoln believed this agenda would foster the economic opportunity he had always sought for upwardly striving Americans, and which he would seek in particular for enslaved Black Americans. Salmon Chase, Lincoln’s vanquished rival and his new secretary of the Treasury, waged war on the financial front, levying taxes and marketing bonds while desperately battling to contain wartime inflation. And while the Union and Rebel armies fought increasingly savage battles, the Republican-led Congress enacted a blizzard of legislation that made the government, for the first time, a powerful presence in the lives of ordinary Americans. The impact was revolutionary. The activist 37th Congress legislated for homesteads and a transcontinental railroad and involved the federal government in education, agriculture, and eventually immigration policy. It established a progressive income tax and created the greenback—paper money. While the Union became self-sustaining, the South plunged into financial free fall, having failed to leverage its cotton wealth to finance the war. Founded in a crucible of anticentralism, the Confederacy was trapped in a static (and slave-based) agrarian economy without federal taxing power or other means of government financing, save for its overworked printing presses. This led to an epic collapse. Though Confederate troops continued to hold their own, the North’s financial advantage over the South, where citizens increasingly went hungry, proved decisive; the war was won as much (or more) in the respective treasuries as on the battlefields. Roger Lowenstein reveals the largely untold story of how Lincoln used the urgency of the Civil War to transform a union of states into a nation. Through a financial lens, he explores how this second American revolution, led by Lincoln, his cabinet, and a Congress studded with towering statesmen, changed the direction of the country and established a government of the people, by the people, and for the people. |
| economic impact of the civil war: The Gilded Age Mark Twain, Charles Dudley Warner, 1904 |
| economic impact of the civil war: Peace in the Age of Chaos Steve Killelea, 2020-10-07 While COVID-19 is reshaping our lives, this must-read book for 2021 provides some of the answers to our most pressing global challenges. Unless the world is basically peaceful, we will never get the trust, cooperation and inclusiveness to solve these issues, yet what creates peace is poorly understood. Working on an aid program in one of the most violent places in the world, North East Kivu in the DR Congo, philanthropist and business leader Steve Killelea asked himself, ‘What are the most peaceful nations?’ Unable to find an answer, he created the world’s leading measure of peace, the Global Peace Index, which receives over 16 billion media impressions annually and has become the definitive go to index for heads of state. Steve Killelea then went on to establish world-renowned think tank, the Institute for Economics and Peace. Today its work is used by organisations such as the World Bank, United Nations and Organisation for Economic Co-operation and Development (OECD) and taught in thousands of university courses around the world. Peace in the Age of Chaos tells of Steve’s personal journey to measure and understand peace. It explores the practical application of his work, which is gathering momentum at a rapid pace. In this time when we are faced with environmental, social and economic challenges, this book shows us a way forward where Positive Peace, described as creating the optimal environment for human potential to flourish, can lead to a paradigm shift in the ways societies can be managed, making them more resilient and better capable of adapting to their changing environments. |
| economic impact of the civil war: Tariffs, Blockades, and Inflation Mark Thornton, Robert Burton Ekelund, 2004 What role did economics play in leading the United States into the Civil War in the 1860s, and how did the war affect the economies of the North and the South? Tariffs, Blockades, and Inflation uses contemporary economic analyses such as supply and demand, modern market theory, and the economics of politics to interpret events of the Civil War. Simplifying the sometimes complex intricacies of the subject matter, Thornton and Ekelund have penned a nontechnical primer that is jargon-free and accessible. Tariffs, Blockades, and Inflation also takes a comprehensive approach to its topic. It offers a cohesive and a persuasive explanation of the how, what, and why behind the many factors at work on both sides of the contest. While most books only delve into a particular aspect of the war, this title effectively bridges the gap by offering an all-encompassing, yet relatively brief, introduction to the essential economics of the Civil War. This book starts out with a look at the reasons for the beginning of the Civil War, including explaining why the war began when it did. It then examines the economic realities in both the North and South. Also covered are the different financial strategies implemented by both the Union and the Confederacy to fund the war and the reasons behind what ultimately led to Southern defeat. Finally, the economic effect of Reconstruction is discussed, including the impact it had on the former slave population. Thornton and Ekelund have contributed an overdue examination of the Civil War that will impart to students a modern way to better comprehend the conflict. Tariffs, Blockades, and Inflation offers fresh, penetrating insights into this pivotal event in American history. |
| economic impact of the civil war: Yankee Leviathan Richard Franklin Bensel, 1990 Contending that intense competition for national political economy control produced secession, this study describes the impact of the American Civil War upon the late nineteenth century development of central state authority. |
| economic impact of the civil war: Compendium of the Impending Crisis of the South Hinton Rowan Helper, 1860 This book condemns slavery, by appealed to whites' rational self-interest, rather than any altruism towards blacks. Helper claimed that slavery hurt the Southern economy by preventing economic development and industrialization, and that it was the main reason why the South had progressed so much less than the North since the late 18th century. |
| economic impact of the civil war: Old South, New South Gavin Wright, 1997-01-01 In this provocative and intricate analysis of the postbellum southern economy, Gavin Wright finds in the South’s peculiar labor market the answer to the perennial question of why the region remained backward for so long. After the Civil War, Wright explains, the South continued to be a low-wage regional market embedded in a high-wage national economy. He vividly details the origins, workings, and ultimate demise of that distinct system. The post-World War II southern economy, which created today’s Sunbelt, Wright shows, is not the result of the evolution of the old system, but the product of a revolution brought on by the New Deal and World War II that shattered the South’s stagnant structure and created a genuinely new, thriving order. |
| economic impact of the civil war: The Impact of the English Civil War John Stephen Morrill, 1991 |
| economic impact of the civil war: The Confederate States of America Roger L. Ransom, 2005 What if Lee had avoided defeat at Gettysburg? In the right hands the ``what if'' question can give us unusual access to the fascinations of history. |
| economic impact of the civil war: Trading with the Enemy Philip Leigh, 2022-05-30 The Impact of Illicit Trade Between the North and South During the Civil War While Confederate blockade runners famously carried the seaborne trade for the South during the American Civil War, the amount of Southern cotton exported to Europe was only half of that shipped illicitly to the North. Most went to New England textile mills where business was better than ever, according to textile mogul Amos Lawrence. Rhode Island senator William Sprague, a mill owner and son-in-law to Treasury Secretary Salmon P. Chase, was a member of a partnership supplying weapons to the Confederacy in exchange for cotton. The trade in contraband was not confined to New England. Union General William T. Sherman claimed Confederates were supplied with weapons from Cincinnati, while General Ulysses S. Grant captured Rebel cavalry armed with carbines purchased in Union-occupied Memphis. During the last months of the war, supplies entering the Union-controlled port of Norfolk, Virginia, were one of the principal factors enabling Robert E. Lee's Confederate army to avoid starvation. Indeed, many of the supplies that passed through the Union blockade into the Confederacy originated in Northern states, instead of Europe as is commonly supposed. Merchants were not the only ones who profited; Union officers General Benjamin Butler and Admiral David Dixon Porter benefited from this black market. President Lincoln admitted that numerous military leaders and public officials were involved, but refused to stop the trade. In Trading with the Enemy: The Covert Economy During the American Civil War, New York Times Disunion contributor Philip Leigh recounts the little-known story of clandestine commerce between the North and South. Cotton was so important to the Northern economy that Yankees began growing it on the captured Sea Islands of South Carolina. Soon the neutral port of Matamoras, Mexico, became a major trading center, where nearly all the munitions shipped to the port--much of it from Northern armories--went to the Confederacy. After the fall of New Orleans and Vicksburg, a frenzy of contraband-for-cotton swept across the vast trans-Mississippi Confederacy, with Northerners sometimes buying the cotton directly from the Confederate government. A fascinating study, Trading with the Enemy adds another layer to our understanding of the Civil War. |
| economic impact of the civil war: Rebel Economies Nicola Di Cosmo, Didier Fassin, Clémence Pinaud, 2021-05-18 As a pervasive occurrence in the contemporary world, wars and their economic sources are defining social and political processes in a variety of national and transnational contexts. Rebel Economies: Warlords, Insurgents, Humanitarians explores historical, anthropological and political dimensions of war economies by non-state actors across different periods and regions, while presenting their multiple manifestations as a unified, congruent phenomenon. Through a variety of conceptual and disciplinary approaches, the authors investigate, in the past and present and across three continents, the nexuses between economy, war, social transformation and state-building, revealing in the process differences and similarities that would otherwise remain hidden. Through this broad-gauge approach, the book aims, first, to rethink much of the debate around “non-state war economies,” and, secondly, to expand the conversation by consciously treating this theme as a conspicuous and distinct aspect of both economy and war. This is not just a different approach but a fundamental departure from the ways in which current discussions over the economy of wars, civil conflicts, and revolutions, have informed research orientations over several decades. |
| economic impact of the civil war: Cotton and Race in the Making of America Gene Dattel, 2009-09-16 Since the earliest days of colonial America, the relationship between cotton and the African-American experience has been central to the history of the republic. America's most serious social tragedy, slavery and its legacy, spread only where cotton could be grown. Both before and after the Civil War, blacks were assigned to the cotton fields while a pervasive racial animosity and fear of a black migratory invasion caused white Northerners to contain blacks in the South. Gene Dattel's pioneering study explores the historical roots of these most central social issues. In telling detail Mr. Dattel shows why the vastly underappreciated story of cotton is a key to understanding America's rise to economic power. When cotton production exploded to satiate the nineteenth-century textile industry's enormous appetite, it became the first truly complex global business and thereby a major driving force in U.S. territorial expansion and sectional economic integration. It propelled New York City to commercial preeminence and fostered independent trade between Europe and the United States, providing export capital for the new nation to gain its financial sea legs in the world economy. Without slave-produced cotton, the South could never have initiated the Civil War, America's bloodiest conflict at home. Mr. Dattel's skillful historical analysis identifies the commercial forces that cotton unleashed and the pervasive nature of racial antipathy it produced. This is a story that has never been told in quite the same way before, related here with the authority of a historian with a profound knowledge of the history of international finance. With 23 black-and-white illustrations. |
| economic impact of the civil war: What Caused the Civil War?: Reflections on the South and Southern History Edward L. Ayers, 2006-08-17 “An extremely good writer, [Ayers] is well worth reading . . . on the South and Southern history.”—Stephen Sears, Boston Globe The Southern past has proven to be fertile ground for great works of history. Peculiarities of tragic proportions—a system of slavery flourishing in a land of freedom, secession and Civil War tearing at a federal Union, deep poverty persisting in a nation of fast-paced development—have fed the imaginations of some of our most accomplished historians. Foremost in their ranks today is Edward L. Ayers, author of the award-winning and ongoing study of the Civil War in the heart of America, the Valley of the Shadow Project. In wide-ranging essays on the Civil War, the New South, and the twentieth-century South, Ayers turns over the rich soil of Southern life to explore the sources of the nation's and his own history. The title essay, original here, distills his vast research and offers a fresh perspective on the nation's central historical event. |
| economic impact of the civil war: The Fragile Fabric of Union Brian D. Schoen, 2009-10-01 Winner, 2010 Bennett H. Wall Award, Southern Historical Association In this fresh study Brian Schoen views the Deep South and its cotton industry from a global perspective, revisiting old assumptions and providing new insights into the region, the political history of the United States, and the causes of the Civil War. Schoen takes a unique and broad approach. Rather than seeing the Deep South and its planters as isolated from larger intellectual, economic, and political developments, he places the region firmly within them. In doing so, he demonstrates that the region’s prominence within the modern world—and not its opposition to it—indelibly shaped Southern history. The place of “King Cotton” in the sectional thinking and budding nationalism of the Lower South seems obvious enough, but Schoen reexamines the ever-shifting landscape of international trade from the 1780s through the eve of the Civil War. He argues that the Southern cotton trade was essential to the European economy, seemingly worth any price for Europeans to protect and maintain, and something to defend aggressively in the halls of Congress. This powerful association gave the Deep South the confidence to ultimately secede from the Union. By integrating the history of the region with global events, Schoen reveals how white farmers, planters, and merchants created a “Cotton South,” preserved its profitability for many years, and ensured its dominance in the international raw cotton markets. The story he tells reveals the opportunities and costs of cotton production for the Lower South and the United States. |
| economic impact of the civil war: The Economic Causes of the English Civil War George Yerby, Taylor & Francis Group, 2021-12-13 This book substantiates the link between economic motivations and the political revolution of the mid seventeenth century. |
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