Advertisement
| economics of the north and south: 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. |
| economics of the north and south: 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. |
| economics of the north and south: 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. |
| economics of the north and south: Trade and the Environment Brian R. Copeland, M. Scott Taylor, 2005-08-07 Nowhere has the divide between advocates and critics of globalization been more striking than in debates over free trade and the environment. And yet the literature on the subject is high on rhetoric and low on results. This book is the first to systematically investigate the subject using both economic theory and empirical analysis. Brian Copeland and Scott Taylor establish a powerful theoretical framework for examining the impact of international trade on local pollution levels, and use it to offer a uniquely integrated treatment of the links between economic growth, liberalized trade, and the environment. The results will surprise many. The authors set out the two leading theories linking international trade to environmental outcomes, develop the empirical implications, and examine their validity using data on measured sulfur dioxide concentrations from over 100 cities worldwide during the period from 1971 to 1986. The empirical results are provocative. For an average country in the sample, free trade is good for the environment. There is little evidence that developing countries will specialize in pollution-intensive products with further trade. In fact, the results suggest just the opposite: free trade will shift pollution-intensive goods production from poor countries with lax regulation to rich countries with tight regulation, thereby lowering world pollution. The results also suggest that pollution declines amid economic growth fueled by economy-wide technological progress but rises when growth is fueled by capital accumulation alone. Lucidly argued and authoritatively written, this book will provide students and researchers of international trade and environmental economics a more reliable way of thinking about this contentious issue, and the methodological tools with which to do so. |
| economics of the north and south: 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. |
| economics of the north and south: 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. |
| economics of the north and south: The Business of Slavery and the Rise of American Capitalism, 1815-1860 Jack Lawrence Schermerhorn, Calvin Schermerhorn, 2015-01-01 Focuses on networks of people, information, conveyances, and other resources and technologies that moved slave-based products from suppliers to buyers and users. (page 3) The book examines the credit and financial systems that grew up around trade in slaves and products made by slaves. |
| economics of the north and south: The Long Twentieth Century Giovanni Arrighi, 1994 Winner of the American Sociological Association PEWS Award (1995) for Distinguished Scholarship The Long Twentieth Century traces the epochal shifts in the relationship between capital accumulation and state formation over a 700-year period. Giovanni Arrighi masterfully synthesizes social theory, comparative history and historical narrative in this account of the structures and agencies which have shaped the course of world history over the millennium. Borrowing from Braudel, Arrighi argues that the history of capitalism has unfolded as a succession of long centuries—ages during which a hegemonic power deploying a novel combination of economic and political networks secured control over an expanding world-economic space. The modest beginnings, rise and violent unravel-ing of the links forged between capital, state power, and geopolitics by hegemonic classes and states are explored with dramatic intensity. From this perspective, Arrighi explains the changing fortunes of Florentine, Venetian, Genoese, Dutch, English, and finally American capitalism. The book concludes with an examination of the forces which have shaped and are now poised to undermine America's world power. |
| economics of the north and south: Slavery's Capitalism Sven Beckert, Seth Rockman, 2016-07-28 During the nineteenth century, the United States entered the ranks of the world's most advanced and dynamic economies. At the same time, the nation sustained an expansive and brutal system of human bondage. This was no mere coincidence. Slavery's Capitalism argues for slavery's centrality to the emergence of American capitalism in the decades between the Revolution and the Civil War. According to editors Sven Beckert and Seth Rockman, the issue is not whether slavery itself was or was not capitalist but, rather, the impossibility of understanding the nation's spectacular pattern of economic development without situating slavery front and center. American capitalism—renowned for its celebration of market competition, private property, and the self-made man—has its origins in an American slavery predicated on the abhorrent notion that human beings could be legally owned and compelled to work under force of violence. Drawing on the expertise of sixteen scholars who are at the forefront of rewriting the history of American economic development, Slavery's Capitalism identifies slavery as the primary force driving key innovations in entrepreneurship, finance, accounting, management, and political economy that are too often attributed to the so-called free market. Approaching the study of slavery as the originating catalyst for the Industrial Revolution and modern capitalism casts new light on American credit markets, practices of offshore investment, and understandings of human capital. Rather than seeing slavery as outside the institutional structures of capitalism, the essayists recover slavery's importance to the American economic past and prompt enduring questions about the relationship of market freedom to human freedom. Contributors: Edward E. Baptist, Sven Beckert, Daina Ramey Berry, Kathryn Boodry, Alfred L. Brophy, Stephen Chambers, Eric Kimball, John Majewski, Bonnie Martin, Seth Rockman, Daniel B. Rood, Caitlin Rosenthal, Joshua D. Rothman, Calvin Schermerhorn, Andrew Shankman, Craig Steven Wilder. |
| economics of the north and south: The Half Has Never Been Told Edward E Baptist, 2016-10-25 A groundbreaking history demonstrating that America's economic supremacy was built on the backs of enslaved people Winner of the 2015 Avery O. Craven Prize from the Organization of American Historians Winner of the 2015 Sidney Hillman Prize Americans tend to cast slavery as a pre-modern institution -- the nation's original sin, perhaps, but isolated in time and divorced from America's later success. But to do so robs the millions who suffered in bondage of their full legacy. As historian Edward E. Baptist reveals in The Half Has Never Been Told, the expansion of slavery in the first eight decades after American independence drove the evolution and modernization of the United States. In the span of a single lifetime, the South grew from a narrow coastal strip of worn-out tobacco plantations to a continental cotton empire, and the United States grew into a modern, industrial, and capitalist economy. Told through the intimate testimonies of survivors of slavery, plantation records, newspapers, as well as the words of politicians and entrepreneurs, The Half Has Never Been Told offers a radical new interpretation of American history. |
| economics of the north and south: The Economics of Emancipation Kathleen Mary Butler, 2017-12-15 The British Slavery Abolition Act of 1834 provided a grant of u20 million to compensate the owners of West Indian slaves for the loss of their human 'property.' In this first comparative analysis of the impact of the award on the colonies, Mary Butler focuses on Jamaica and Barbados, two of Britain's premier sugar islands. The Economics of Emancipation examines the effect of compensated emancipation on colonial credit, landownership, plantation land values, and the broader spheres of international trade and finance. Butler also brings the role and status of women as creditors and plantation owners into focus for the first time. Through her analysis of rarely used chancery court records, attorneys' letters, and compensation returns, Butler underscores the fragility of the colonial economies of Jamaica and Barbados, illustrates the changing relationship between planters and merchants, and offers new insights into the social and political history of the West Indies and Britain. |
| economics of the north and south: More Pricks Than Kicks Samuel Beckett, 2007-12-01 Samuel Beckett, the recipient of the 1969 Nobel Prize for Literature and one of the greatest writers of our century, first published these ten short stories in 1934; they originally formed part of an unfinished novel. They trace the career of the first of Beckett’s antiheroes, Belacqua Shuah. Belacqua is a student, a philanderer, and a failure, and Beckett portrays the various aspects of his troubled existence: he studies Dante, attempts an ill-fated courtship, witnesses grotesque incidents in the streets of Dublin, attends vapid parties, endures his marriage, and meets his accidental death. These early stories point to the qualities of precision, restraint, satire, and poetry found in Beckett’s mature works, and reveal the beginning stages of Beckett’s underlying theme of bewilderment in the face of suffering. |
| economics of the north and south: The Economics of Contemporary Latin America Beatriz Armendariz, Felipe Larrain B., 2017-05-05 Analysis of Latin America's economy focusing on development, covering the colonial roots of inequality, boom and bust cycles, labor markets, and fiscal and monetary policy. Latin America is richly endowed with natural resources, fertile land, and vibrant cultures. Yet the region remains much poorer than its neighbors to the north. Most Latin American countries have not achieved standards of living and stable institutions comparable to those found in developed countries, have experienced repeated boom-bust cycles, and remain heavily reliant on primary commodities. This book studies the historical roots of Latin America's contemporary economic and social development, focusing on poverty and income inequality dating back to colonial times. It addresses today's legacies of the market-friendly reforms that took hold in the 1980s and 1990s by examining successful stabilizations and homemade monetary and fiscal institutional reforms. It offers a detailed analysis of trade and financial liberalization, twenty–first century-growth, and the decline in poverty and income inequality. Finally, the book offers an overall analysis of inclusive growth policies for development—including gender issues and the informal sector—and the challenges that lie ahead for the region, with special attention to pressing demands by the vibrant and vocal middle class, youth unemployment, and indigenous populations. |
| economics of the north and south: 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. |
| economics of the north and south: Indians, Settlers, and Slaves in a Frontier Exchange Economy Daniel H. Usner Jr., 2014-01-01 In this pioneering book Daniel Usner examines the economic and cultural interactions among the Indians, Europeans, and African slaves of colonial Louisiana, including the province of West Florida. Rather than focusing on a single cultural group or on a particular economic activity, this study traces the complex social linkages among Indian villages, colonial plantations, hunting camps, military outposts, and port towns across a large region of pre-cotton South. Usner begins by providing a chronological overview of events from French settlement of the area in 1699 to Spanish acquisition of West Florida after the Revolution. He then shows how early confrontations and transactions shaped the formation of Louisiana into a distinct colonial region with a social system based on mutual needs of subsistence. Usner's focus on commerce allows him to illuminate the motives in the contest for empire among the French, English, and Spanish, as well as to trace the personal networks of communication and exchange that existed among the territory's inhabitants. By revealing the economic and social world of early Louisianians, he lays the groundwork for a better understanding of later Southern society. |
| economics of the north and south: Why Nations Fail Daron Acemoglu, James A. Robinson, 2013-09-17 Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world. |
| economics of the north and south: The National System of Political Economy Friedrich List, 1916 |
| economics of the north and south: Steamboats and the Rise of the Cotton Kingdom Robert H. Gudmestad, 2011-10-24 In Steamboats and the Rise of the Cotton Kingdom Robert Gudmestad offers new insights into the remarkable and significant history of transportation and commerce in the antebellum South. He examines the wide-ranging influence of steamboats on the Southern economy. From carrying cash crops to market, to contributing to slave productivity, increasing the flexibility of labor, and connecting southerners to overlapping orbits of regional, national, and international markets, steamboats not only benefitted slaveholders and northern industries but also affected cotton production. |
| economics of the north and south: Indigenous Economics Ronald L. Trosper, 2022-08-23 What does “development” mean for Indigenous peoples? Indigenous Economics lays out an alternative path showing that conscious attention to relationships among humans and the natural world creates flourishing social-ecological economies. Economist Ronald L. Trosper draws on examples from North and South America, Aotearoa/New Zealand, and Australia to argue that Indigenous worldviews centering care and good relationships provide critical and sustainable economic models in a world under increasing pressure from biodiversity loss and climate change. He explains the structure of relational Indigenous economic theory, providing principles based on his own and others’ work with tribal nations and Indigenous communities. Trosper explains how sustainability is created at every level when relational Indigenous economic theory is applied—micro, meso, and macro. Good relationships support personal and community autonomy, replacing the individualism/collectivism dichotomy with relational leadership and entrepreneurship. Basing economies on relationships requires changing governance from the top-down approaches of nation-states and international corporations; instead, each community creates its own territorial relationships, creating plurinational relational states. This book offers an important alternative to classic economic theory. In Indigenous Economics, support for Indigenous communities’ development and Indigenous peoples’ well-being go hand-in-hand. Publication of this book is made possible in part by the Alfred P. Sloan Foundation Program in Public Understanding of Science. |
| economics of the north and south: Global Economic History: A Very Short Introduction Robert C. Allen, 2011-09-15 Why are some countries rich and others poor? In 1500, the income differences were small, but they have grown dramatically since Columbus reached America. Since then, the interplay between geography, globalization, technological change, and economic policy has determined the wealth and poverty of nations. The industrial revolution was Britain's path breaking response to the challenge of globalization. Western Europe and North America joined Britain to form a club of rich nations by pursuing four polices-creating a national market by abolishing internal tariffs and investing in transportation, erecting an external tariff to protect their fledgling industries from British competition, banks to stabilize the currency and mobilize domestic savings for investment, and mass education to prepare people for industrial work. Together these countries pioneered new technologies that have made them ever richer. Before the Industrial Revolution, most of the world's manufacturing was done in Asia, but industries from Casablanca to Canton were destroyed by western competition in the nineteenth century, and Asia was transformed into 'underdeveloped countries' specializing in agriculture. The spread of economic development has been slow since modern technology was invented to fit the needs of rich countries and is ill adapted to the economic and geographical conditions of poor countries. A few countries - Japan, Soviet Russia, South Korea, Taiwan, and perhaps China - have, nonetheless, caught up with the West through creative responses to the technological challenge and with Big Push industrialization that has achieved rapid growth through investment coordination. Whether other countries can emulate the success of East Asia is a challenge for the future. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable. |
| economics of the north and south: Comparative Economics in a Transforming World Economy John Barkley Rosser, 2004 The second edition of an innovative undergraduate textbook in Comparative Economic Systems that goes beyond the traditional dichotomies. |
| economics of the north and south: An Intimate Economy Alexandra J. Finley, 2020-07-06 Alexandra Finley adds crucial new dimensions to the boisterous debate over the relationship between slavery and capitalism by placing women's labor at the center of the antebellum slave trade, focusing particularly on slave traders' ability to profit from enslaved women's domestic, reproductive, and sexual labor. The slave market infiltrated every aspect of southern society, including the most personal spaces of the household, the body, and the self. Finley shows how women's work was necessary to the functioning of the slave trade, and thus to the spread of slavery to the Lower South, the expansion of cotton production, and the profits accompanying both of these markets. Through the personal histories of four enslaved women, Finley explores the intangible costs of the slave market, moving beyond ledgers, bills of sales, and statements of profit and loss to consider the often incalculable but nevertheless invaluable place of women's emotional, sexual, and domestic labor in the economy. The details of these women's lives reveal the complex intersections of economy, race, and family at the heart of antebellum society. |
| economics of the north and south: 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. |
| economics of the north and south: The New South Henry Woodfin Grady, 1890 |
| economics of the north and south: 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. |
| economics of the north and south: Alexander Hamilton's Famous Report on Manufactures United States. Department of the Treasury, Alexander Hamilton, 1892 |
| economics of the north and south: A Farewell to Alms Gregory Clark, 2008-12-29 Why are some parts of the world so rich and others so poor? Why did the Industrial Revolution--and the unprecedented economic growth that came with it--occur in eighteenth-century England, and not at some other time, or in some other place? Why didn't industrialization make the whole world rich--and why did it make large parts of the world even poorer? In A Farewell to Alms, Gregory Clark tackles these profound questions and suggests a new and provocative way in which culture--not exploitation, geography, or resources--explains the wealth, and the poverty, of nations. Countering the prevailing theory that the Industrial Revolution was sparked by the sudden development of stable political, legal, and economic institutions in seventeenth-century Europe, Clark shows that such institutions existed long before industrialization. He argues instead that these institutions gradually led to deep cultural changes by encouraging people to abandon hunter-gatherer instincts-violence, impatience, and economy of effort-and adopt economic habits-hard work, rationality, and education. The problem, Clark says, is that only societies that have long histories of settlement and security seem to develop the cultural characteristics and effective workforces that enable economic growth. For the many societies that have not enjoyed long periods of stability, industrialization has not been a blessing. Clark also dissects the notion, championed by Jared Diamond in Guns, Germs, and Steel, that natural endowments such as geography account for differences in the wealth of nations. A brilliant and sobering challenge to the idea that poor societies can be economically developed through outside intervention, A Farewell to Alms may change the way global economic history is understood. |
| economics of the north and south: Value Chains Intan Suwandi, 2019-08-22 Award-winning book showcases case studies uncovering the exploitation of labor and class in the Global South Winner of the 2018 Paul M. Sweezy—Paul A. Baran Memorial Award for original work regarding the political economy of imperialism, Value Chains examines the exploitation of labor in the Global South. Focusing on the issue of labor within global value chains, this book offers a deft empirical analysis of unit labor costs that is closely related to Marx’s own theory of exploitation. Value Chains uncovers the concrete processes through which multinational corporations, located primarily in the Global North, capture value from the Global South. We are brought face to face with various state-of-the-art corporate strategies that enforce “economical” and “flexible” production, including labor management methods, aimed to reassert the imperial dominance of the North, while continuing the dependency of the Global South and polarizing the global economy. Case studies of Indonesian suppliers exemplify the growing burden borne by the workers of the Global South, whose labor creates the surplus value that enriches the capitalists of the North, as well as the secondary capitals of the South. Today, those who control the value chains and siphon off the profits are primarily financial interests with vast economic and political power—the power that must be broken if the global working class is to liberate itself. Suwandi’s book depicts in concrete detail the relations of unequal exchange that structure today’s world economy. This study, up-to-date and richly documented, puts labor and class back at the center of our understanding of the world capitalist system. |
| economics of the north and south: 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. |
| economics of the north and south: 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. |
| economics of the north and south: Capitalism and Slavery Eric Williams, 2014-06-30 Slavery helped finance the Industrial Revolution in England. Plantation owners, shipbuilders, and merchants connected with the slave trade accumulated vast fortunes that established banks and heavy industry in Europe and expanded the reach of capitalism worldwide. Eric Williams advanced these powerful ideas in Capitalism and Slavery, published in 1944. Years ahead of its time, his profound critique became the foundation for studies of imperialism and economic development. Binding an economic view of history with strong moral argument, Williams's study of the role of slavery in financing the Industrial Revolution refuted traditional ideas of economic and moral progress and firmly established the centrality of the African slave trade in European economic development. He also showed that mature industrial capitalism in turn helped destroy the slave system. Establishing the exploitation of commercial capitalism and its link to racial attitudes, Williams employed a historicist vision that set the tone for future studies. In a new introduction, Colin Palmer assesses the lasting impact of Williams's groundbreaking work and analyzes the heated scholarly debates it generated when it first appeared. |
| economics of the north and south: Refracted Economies Rebecca Jane Hall, 2022 Refracted Economies examines the gendered impact of the diamond industry in the Canadian Northwest Territories. |
| economics of the north and south: The Long Shadow of Informality Franziska Ohnsorge, Shu Yu, 2022-02-09 A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging market and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic--unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes--including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity. |
| economics of the north and south: Dark Work Christy Clark-Pujara, 2018-03-06 Tells the story of one state in particular whose role in the slave trade was outsized: Rhode Island Historians have written expansively about the slave economy and its vital role in early American economic life. Like their northern neighbors, Rhode Islanders bought and sold slaves and supplies that sustained plantations throughout the Americas; however, nowhere else was this business so important. During the colonial period trade with West Indian planters provided Rhode Islanders with molasses, the key ingredient for their number one export: rum. More than 60 percent of all the slave ships that left North America left from Rhode Island. During the antebellum period Rhode Islanders were the leading producers of “negro cloth,” a coarse wool-cotton material made especially for enslaved blacks in the American South. Clark-Pujara draws on the documents of the state, the business, organizational, and personal records of their enslavers, and the few first-hand accounts left by enslaved and free black Rhode Islanders to reconstruct their lived experiences. The business of slavery encouraged slaveholding, slowed emancipation and led to circumscribed black freedom. Enslaved and free black people pushed back against their bondage and the restrictions placed on their freedom. It is convenient, especially for northerners, to think of slavery as southern institution. The erasure or marginalization of the northern black experience and the centrality of the business of slavery to the northern economy allows for a dangerous fiction—that North has no history of racism to overcome. But we cannot afford such a delusion if we are to truly reconcile with our past. |
| economics of the north and south: What We Owe Each Other Minouche Shafik, 2022-08-23 From one of the leading policy experts of our time, an urgent rethinking of how we can better support each other to thrive Whether we realize it or not, all of us participate in the social contract every day through mutual obligations among our family, community, place of work, and fellow citizens. Caring for others, paying taxes, and benefiting from public services define the social contract that supports and binds us together as a society. Today, however, our social contract has been broken by changing gender roles, technology, new models of work, aging, and the perils of climate change. Minouche Shafik takes us through stages of life we all experience—raising children, getting educated, falling ill, working, growing old—and shows how a reordering of our societies is possible. Drawing on evidence and examples from around the world, she shows how every country can provide citizens with the basics to have a decent life and be able to contribute to society. But we owe each other more than this. A more generous and inclusive society would also share more risks collectively and ask everyone to contribute for as long as they can so that everyone can fulfill their potential. What We Owe Each Other identifies the key elements of a better social contract that recognizes our interdependencies, supports and invests more in each other, and expects more of individuals in return. Powerful, hopeful, and thought-provoking, What We Owe Each Other provides practical solutions to current challenges and demonstrates how we can build a better society—together. |
| economics of the north and south: The Negro in the South, His Economic Progress in Relation to His Moral and Religious Development Booker T. Washington, William Edward Burghardt Du Bois, 1907 Four lectures given as part of an endowed Lectureship on Christian Sociology at Philadelphia Divinity School. Washington's two lectures concern the economic development of African Americans both during and after slavery. He argues that slavery enabled the freedman to become a success, and that economic and industrial development improves both the moral and the religious life of African Americans. Du Bois argues that slavery hindered the South in its industrial development, leaving an agriculture-based economy out of step with the world around it. His second lecture argues that Southern white religion has been broadly unjust to slaves and former slaves, and how in so doing it has betrayed its own hypocrisy. |
| economics of the north and south: The Economics of the Middle East and North Africa (MENA) Joseph Pelzman, 2012-06-26 The Middle East and North Africa (MENA) is a large, complex, and diverse region, which faces a wide range of economic issues. The MENA group includes Algeria, Bahrain, Cyprus, Djibouti, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, Turkey, United Arab Emirates, and Yemen. This book uses analytical tools drawn from the trade, labor, finance, and development literature to critically analyze and compare these countries' economic policies. The approach taken in this book is to focus on the economic policies and institutional arrangements which have evolved in MENA and which may serve to explain the differences in each country's economic performance. The key objective of the book is to unravel the context-specific variety of growth-promoting policies within MENA rather than focus on specific countries. This book stresses that the poor performance of Arab MENA can be chiefly explained by their aversion to a Western paradigm of market economics. In the advanced industrial countries and in Israel, “globalization” is largely viewed in economic terms — the free movement of goods, services, labor and capital across borders. In the Arab MENA, however, “globalization” is viewed in largely ideological terms and has been regarded as a new version of imperialism. Consequently, the Arab MENA region remains one of the most un-globalized regions in the world. The book serves as both a textbook and a summary of the very large literature on MENA. It examines the following economic realities of the region and compares them across the MENA economies: Technology gap and comparative developmentThe value of education and human capital developmentWater and food securityThe economics and politics of oilPopulation growth, role of gender, and labor mobilityThe role of the state as economic actorThe economic value of democracyThe prospects for regional integration |
| economics of the north and south: 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. |
| economics of the north and south: Complicity Anne Farrow, Joel Lang, Jenifer Frank, 2007-12-18 A startling and superbly researched book demythologizing the North’s role in American slavery “The hardest question is what to do when human rights give way to profits. . . . Complicity is a story of the skeletons that remain in this nation’s closet.”—San Francisco Chronicle The North’s profit from—indeed, dependence on—slavery has mostly been a shameful and well-kept secret . . . until now. Complicity reveals the cruel truth about the lucrative Triangle Trade of molasses, rum, and slaves that linked the North to the West Indies and Africa. It also discloses the reality of Northern empires built on tainted profits—run, in some cases, by abolitionists—and exposes the thousand-acre plantations that existed in towns such as Salem, Connecticut. Here, too, are eye-opening accounts of the individuals who profited directly from slavery far from the Mason-Dixon line. Culled from long-ignored documents and reports—and bolstered by rarely seen photos, publications, maps, and period drawings—Complicity is a fascinating and sobering work that actually does what so many books pretend to do: shed light on America’s past. |
| economics of the north and south: Analyzing Oppression Ann E. Cudd, 2006 Analyzing Oppression presents a new, integrated theory of social oppression, which tackles the fundamental question that no theory of oppression has satisfactorily answered: if there is no natural hierarchy among humans, why are some cases of oppression so persistent? Cudd argues that the explanation lies in the coercive co-opting of the oppressed to join in their own oppression. This answer sets the stage for analysis throughout the book, as it explores the questions of how and why the oppressed join in their oppression. Cudd argues that oppression is an institutionally structured harm perpetrated on social groups by other groups using direct and indirect material, economic, and psychological force. Among the most important and insidious of the indirect forces is an economic force that operates through oppressed persons' own rational choices. This force constitutes the central feature of analysis, and the book argues that this force is especially insidious because it conceals the fact of oppression from the oppressed and from others who would be sympathetic to their plight. The oppressed come to believe that they suffer personal failings and this belief appears to absolve society from responsibility. While on Cudd's view oppression is grounded in material exploitation and physical deprivation, it cannot be long sustained without corresponding psychological forces. Cudd examines the direct and indirect psychological forces that generate and sustain oppression. She discusses strategies that groups have used to resist oppression and argues that all persons have a moral responsibility to resist in some way. In the concluding chapter Cudd proposes a concept of freedom that would be possible for humans in a world that is actively opposing oppression, arguing that freedom for each individual is only possible when we achieve freedom for all others. |
Economics - Wikipedia
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) [1] [2] is a behavioral science that studies the production, distribution, and consumption of goods and services. [3] [4]Economics focuses on …
Economics Defined With Types, Indicators, and Systems
Jun 28, 2024 · Economics is a branch of the social sciences focused on the production, distribution, and consumption of goods and services. Microeconomics is a type of economics …
Economics | Definition, History, Examples, Types, & Facts
May 12, 2025 · economics, social science that seeks to analyze and describe the production, distribution, and consumption of wealth. In the 19th century economics was the hobby of …
The A to Z of economics | The Economist
In economics, a transfer is a payment of money without any goods or services being exchanged in return. Governments make transfers in the form of welfare benefits but individuals make …
What is Economics? - American Economic Association
Economics is a broad discipline that helps us understand historical trends, interpret today’s headlines, and make predictions about the coming years. Economics ranges from the very …
What is Economics? Definition of Economics, Economics …
Economics Economics is the study of scarcity and how it affects the use of resources, the production of goods and services, the growth of production and well-being over time, and many …
What is Economics? - Northwestern University
Economics is the study of how we make choices in the face of scarcity and how those choices motivate behavior. THE FIELD OF ECONOMICS. As individuals, families, and nations, we …
What Is Economics? - Econlib
Economics is the study of given ends and scarce means. Lionel Robbins, biography, from the Concise Encyclopedia of Economics: Robbins’ most famous book was An Essay on the Nature …
What is Economics - Definition, Methods, Types - Research Method
Mar 26, 2024 · Economics. Economics is a social science that analyzes how people make decisions to satisfy their wants and needs, given limited resources. It explores the processes …
What is Economics - Definitions, Criticisms. Modern Economic …
Instead, economics was merely used to analyze the action of individuals, using stylized mathematical models. Modern Definition of Economics The modern definition, attributed to the …
Economics - Wikipedia
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) [1] [2] is a behavioral science that studies the production, distribution, and consumption of goods and services. [3] [4]Economics focuses on the …
Economics Defined With Types, Indicators, and Systems
Jun 28, 2024 · Economics is a branch of the social sciences focused on the production, distribution, and consumption of goods and services. Microeconomics is a type of economics …
Economics | Definition, History, Examples, Types, & Facts
May 12, 2025 · economics, social science that seeks to analyze and describe the production, distribution, and consumption of wealth. In the 19th century economics was the hobby of …
The A to Z of economics | The Economist
In economics, a transfer is a payment of money without any goods or services being exchanged in return. Governments make transfers in the form of welfare benefits but individuals make …
What is Economics? - American Economic Association
Economics is a broad discipline that helps us understand historical trends, interpret today’s headlines, and make predictions about the coming years. Economics ranges from the very …
What is Economics? Definition of Economics, Economics Meaning …
Economics Economics is the study of scarcity and how it affects the use of resources, the production of goods and services, the growth of production and well-being over time, and many …
What is Economics? - Northwestern University
Economics is the study of how we make choices in the face of scarcity and how those choices motivate behavior. THE FIELD OF ECONOMICS. As individuals, families, and nations, we …
What Is Economics? - Econlib
Economics is the study of given ends and scarce means. Lionel Robbins, biography, from the Concise Encyclopedia of Economics: Robbins’ most famous book was An Essay on the Nature …
What is Economics - Definition, Methods, Types - Research Method
Mar 26, 2024 · Economics. Economics is a social science that analyzes how people make decisions to satisfy their wants and needs, given limited resources. It explores the processes …
What is Economics - Definitions, Criticisms. Modern Economic …
Instead, economics was merely used to analyze the action of individuals, using stylized mathematical models. Modern Definition of Economics The modern definition, attributed to the …
