Ages of American capitalism : a history of the United States / Jonathan Levy.

Format:

Book

Author/Creator:

Levy, Jonathan, 1978- author.

Language:

English

Subjects (All):

Capitalism--United States--History.

Capitalism.

United States--Economic conditions.

United States.

Economic history.

Genre:

History

Physical Description:

xxviii, 908 pages : illustrations, maps ; 24 cm

Edition:

Random House trade paperback edition.

Place of Publication:

New York : Random House, 2022.

Summary:

Today, in the midst of a new economic crisis and severe political discord, the nature of capitalism in United States is at a crossroads. Since the market crash and Great Recession of 2008, historian Jonathan Levy has been teaching a course to help his students understand everything that had happened to reach that disaster and the current state of the economy, but in doing so he discovered something more fundamental about American history. Now, in an ambitious single-volume history of the United States, he reveals how, from the beginning of U.S. history to the present, capitalism in America has evolved through four distinct ages and how the country's economic evolution is inseparable from the nature of American life itself. The Age of Commerce spans the colonial era through the outbreak of the Civil War, a period of history in which economic growth and output largely depended on enslaved labor and was limited by what could be drawn from the land and where it could be traded. The Age of Capital traces the impact of the first major leap in economic development following the Civil War: the industrial revolution, when capitalists set capital down in factories to produce commercial goods, fueled by labor moving into cities. But investments in the new industrial economy led to great volatility, most dramatically with the onset of the Great Depression in 1929. The Depression immediately sparked the Age of Control, when the government took on a more active role in the economy, first trying to jump-start it and then funding military production during World War II. Skepticism of government intervention in the Cold War combined with recession and stagflation in the 1970s led to a crisis of industrial capitalism and the withdrawal of political will for regulation. In the Age of Chaos that followed, the combination of deregulation and the growth of the finance industry created a booming economy for some but also striking inequalities and a lack of oversight that led directly to the crash of 2008. In Ages of American Capitalism, Jonathan Levy proves that, contrary to political dogma, capitalism in the United States has never been just one thing. Instead, it has morphed throughout the country's history--and it's likely changing again right now.

Contents:

Book one: The age of commerce, 1660-1860. Preface: Commerce

Mercantilism

Organic economy, household economy

Republican political economy

Capitalism and the democracy

Confidence games

Between slavery and freedom

Book two: The age of capital, 1860-1932. Preface: Capital

Civil War and the reconstruction of capital

Industrialization

Class war and home life

The populist revolt

Fordism

The Great Depression

Book three: The age of control, 1932-1980. Preface: Control

New Deal capitalism

New world hegemon

Postwar hinge

Consumerism

Ordeal of a golden age

Crisis of industrial capital

Book four: The age of chaos, 1980-. Preface: Chaos

Magic of the market

The new economy

The great moderation

The Great Recession

Afterword.

Notes:

Originally published: 2021.

Includes bibliographical references (pages 747-866) and index.

ISBN:

9780812985184

0812985184

OCLC:

1273915227

Publisher Number:

90104833723