One Nation Under Debt: Hamilton, Jefferson, and the History of What We Owe

One Nation Under Debt: Hamilton, Jefferson, and the History of What We Owe

Author: Robert E. Wright

Publisher: McGraw Hill Professional

Published: 2008-05-01

Total Pages: 433

ISBN-13: 0071543945

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Like its current citizens, the United States was born in debt-a debt so deep that it threatened to destroy the young nation. Thomas Jefferson considered the national debt a monstrous fraud on posterity, while Alexander Hamilton believed debt would help America prosper. Both, as it turns out, were right. One Nation Under Debt explores the untold history of America's first national debt, which arose from the immense sums needed to conduct the American Revolution. Noted economic historian Robert Wright, Ph.D. tells in riveting narrative how a subjugated but enlightened people cast off a great tyrant-“but their liberty, won with promises as well as with the blood of patriots, came at a high price.” He brings to life the key events that shaped the U.S. financial system and explains how the actions of our forefathers laid the groundwork for the debt we still carry today. As an economically tenuous nation by Revolution's end, America's people struggled to get on their feet. Wright outlines how the formation of a new government originally reduced the nation's debt-but, as debt was critical to this government's survival, it resurfaced, to be beaten back once more. Wright then reveals how political leaders began accumulating massive new debts to ensure their popularity, setting the financial stage for decades to come. Wright traces critical evolutionary developments-from Alexander Hamilton's creation of the nation's first modern capital market, to the use of national bonds to further financial goals, to the drafting of state constitutions that created non-predatory governments. He shows how, by the end of Andrew Jackson's administration, America's financial system was contributing to national growth while at the same time new national and state debts were amassing, sealing the fate for future generations.


Book Synopsis One Nation Under Debt: Hamilton, Jefferson, and the History of What We Owe by : Robert E. Wright

Download or read book One Nation Under Debt: Hamilton, Jefferson, and the History of What We Owe written by Robert E. Wright and published by McGraw Hill Professional. This book was released on 2008-05-01 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: Like its current citizens, the United States was born in debt-a debt so deep that it threatened to destroy the young nation. Thomas Jefferson considered the national debt a monstrous fraud on posterity, while Alexander Hamilton believed debt would help America prosper. Both, as it turns out, were right. One Nation Under Debt explores the untold history of America's first national debt, which arose from the immense sums needed to conduct the American Revolution. Noted economic historian Robert Wright, Ph.D. tells in riveting narrative how a subjugated but enlightened people cast off a great tyrant-“but their liberty, won with promises as well as with the blood of patriots, came at a high price.” He brings to life the key events that shaped the U.S. financial system and explains how the actions of our forefathers laid the groundwork for the debt we still carry today. As an economically tenuous nation by Revolution's end, America's people struggled to get on their feet. Wright outlines how the formation of a new government originally reduced the nation's debt-but, as debt was critical to this government's survival, it resurfaced, to be beaten back once more. Wright then reveals how political leaders began accumulating massive new debts to ensure their popularity, setting the financial stage for decades to come. Wright traces critical evolutionary developments-from Alexander Hamilton's creation of the nation's first modern capital market, to the use of national bonds to further financial goals, to the drafting of state constitutions that created non-predatory governments. He shows how, by the end of Andrew Jackson's administration, America's financial system was contributing to national growth while at the same time new national and state debts were amassing, sealing the fate for future generations.

Hamilton's Blessing

Hamilton's Blessing

Author: John Steele Gordon

Publisher: Bloomsbury Publishing USA

Published: 2010-04-05

Total Pages: 238

ISBN-13: 0802717993

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"Reprint. Originally published in 1997."--T.p. verso.


Book Synopsis Hamilton's Blessing by : John Steele Gordon

Download or read book Hamilton's Blessing written by John Steele Gordon and published by Bloomsbury Publishing USA. This book was released on 2010-04-05 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Reprint. Originally published in 1997."--T.p. verso.

Broke

Broke

Author: Glenn Beck

Publisher: Simon and Schuster

Published: 2012-08-28

Total Pages: 416

ISBN-13: 1451693443

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Briefly surveys more than two centures of American political history to describe how the country has been broken spiritually, politically and financially and advocates a return to core values to restore America's economic and spiritual health.


Book Synopsis Broke by : Glenn Beck

Download or read book Broke written by Glenn Beck and published by Simon and Schuster. This book was released on 2012-08-28 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Briefly surveys more than two centures of American political history to describe how the country has been broken spiritually, politically and financially and advocates a return to core values to restore America's economic and spiritual health.

Knowledge and the Wealth of Nations: A Story of Economic Discovery

Knowledge and the Wealth of Nations: A Story of Economic Discovery

Author: David Warsh

Publisher: W. W. Norton & Company

Published: 2007-05-17

Total Pages: 449

ISBN-13: 0393329887

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Chronicling the story of what has come to be called the new growth theory, this text helps to explain dominant first-mover firms like IBM or Microsoft, underscores the value of intellectual property, and provides essential advice to those concerned with the expansion of the economy.


Book Synopsis Knowledge and the Wealth of Nations: A Story of Economic Discovery by : David Warsh

Download or read book Knowledge and the Wealth of Nations: A Story of Economic Discovery written by David Warsh and published by W. W. Norton & Company. This book was released on 2007-05-17 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chronicling the story of what has come to be called the new growth theory, this text helps to explain dominant first-mover firms like IBM or Microsoft, underscores the value of intellectual property, and provides essential advice to those concerned with the expansion of the economy.

White House Burning

White House Burning

Author: Simon Johnson

Publisher: Vintage

Published: 2013-02-12

Total Pages: 386

ISBN-13: 0307947645

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From the authors of the national bestseller 13 Bankers, a chilling account of America’s unprecedented debt crisis: how it came to pass, why it threatens to topple the nation as a superpower, and what needs to be done about it. With bracing clarity, White House Burning explains why the national debt matters to your everyday life. Simon Johnson and James Kwak describe how the government has been able to pay off its debt in the past, even after the massive deficits incurred as a result of World War II, and analyze why this is near-impossible today. They closely examine, among other factors, macroeconomic shifts of the 1970s, Reaganism and the rise of conservatism, and demographic changes that led to the growth of major—and extremely popular—social insurance programs. What is unquestionably clear is how recent financial turmoil exacerbated the debt crisis while creating a political climate in which it is even more difficult to solve.


Book Synopsis White House Burning by : Simon Johnson

Download or read book White House Burning written by Simon Johnson and published by Vintage. This book was released on 2013-02-12 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the authors of the national bestseller 13 Bankers, a chilling account of America’s unprecedented debt crisis: how it came to pass, why it threatens to topple the nation as a superpower, and what needs to be done about it. With bracing clarity, White House Burning explains why the national debt matters to your everyday life. Simon Johnson and James Kwak describe how the government has been able to pay off its debt in the past, even after the massive deficits incurred as a result of World War II, and analyze why this is near-impossible today. They closely examine, among other factors, macroeconomic shifts of the 1970s, Reaganism and the rise of conservatism, and demographic changes that led to the growth of major—and extremely popular—social insurance programs. What is unquestionably clear is how recent financial turmoil exacerbated the debt crisis while creating a political climate in which it is even more difficult to solve.

The Oxford Handbook of the American Revolution

The Oxford Handbook of the American Revolution

Author: Edward G. Gray

Publisher: Oxford University Press

Published: 2015

Total Pages: 696

ISBN-13: 0190257768

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The Oxford Handbook of the American Revolution draws on a wealth of new scholarship to create a vibrant dialogue among varied approaches to the revolution that made the United States. In thirty-three essays written by authorities on the period, the Handbook brings to life the diverse multitudes of colonial North America and their extraordinary struggles before, during, and after the eight-year-long civil war that secured the independence of thirteen rebel colonies from their erstwhile colonial parent. The chapters explore battles and diplomacy, economics and finance, law and culture, politics and society, gender, race, and religion. Its diverse cast of characters includes ordinary farmers and artisans, free and enslaved African Americans, Indians, and British and American statesmen and military leaders. In addition to expanding the Revolution's who, the Handbook broadens its where, portraying an event that far transcended the boundaries of what was to become the United States. It offers readers an American Revolution whose impact ranged far beyond the thirteen colonies. The Handbook's range of interpretive and methodological approaches captures the full scope of current revolutionary-era scholarship. Its authors, British and American scholars spanning several generations, include social, cultural, military, and imperial historians, as well as those who study politics, diplomacy, literature, gender, and sexuality. Together and separately, these essays demonstrate that the American Revolution remains a vibrant and inviting a subject of inquiry. Nothing comparable has been published in decades.


Book Synopsis The Oxford Handbook of the American Revolution by : Edward G. Gray

Download or read book The Oxford Handbook of the American Revolution written by Edward G. Gray and published by Oxford University Press. This book was released on 2015 with total page 696 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of the American Revolution draws on a wealth of new scholarship to create a vibrant dialogue among varied approaches to the revolution that made the United States. In thirty-three essays written by authorities on the period, the Handbook brings to life the diverse multitudes of colonial North America and their extraordinary struggles before, during, and after the eight-year-long civil war that secured the independence of thirteen rebel colonies from their erstwhile colonial parent. The chapters explore battles and diplomacy, economics and finance, law and culture, politics and society, gender, race, and religion. Its diverse cast of characters includes ordinary farmers and artisans, free and enslaved African Americans, Indians, and British and American statesmen and military leaders. In addition to expanding the Revolution's who, the Handbook broadens its where, portraying an event that far transcended the boundaries of what was to become the United States. It offers readers an American Revolution whose impact ranged far beyond the thirteen colonies. The Handbook's range of interpretive and methodological approaches captures the full scope of current revolutionary-era scholarship. Its authors, British and American scholars spanning several generations, include social, cultural, military, and imperial historians, as well as those who study politics, diplomacy, literature, gender, and sexuality. Together and separately, these essays demonstrate that the American Revolution remains a vibrant and inviting a subject of inquiry. Nothing comparable has been published in decades.

Reconstructing the National Bank Controversy

Reconstructing the National Bank Controversy

Author: Eric Lomazoff

Publisher: University of Chicago Press

Published: 2018-11-07

Total Pages: 256

ISBN-13: 022657959X

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The Bank of the United States sparked several rounds of intense debate over the meaning of the Constitution’s Necessary and Proper Clause, which authorizes the federal government to make laws that are “necessary” for exercising its other powers. Our standard account of the national bank controversy, however, is incomplete. The controversy was much more dynamic than a two-sided debate over a single constitutional provision and was shaped as much by politics as by law. With Reconstructing the National Bank Controversy, Eric Lomazoff offers a far more robust account of the constitutional politics of national banking between 1791 and 1832. During that time, three forces—changes within the Bank itself, growing tension over federal power within the Republican coalition, and the endurance of monetary turmoil beyond the War of 1812 —drove the development of our first major debate over the scope of federal power at least as much as the formal dimensions of the Constitution or the absence of a shared legal definition for the word “necessary.” These three forces—sometimes alone, sometimes in combination—repeatedly reshaped the terms on which the Bank’s constitutionality was contested. Lomazoff documents how these three dimensions of the polity changed over time and traces the manner in which they periodically led federal officials to adjust their claims about the Bank’s constitutionality. This includes the emergence of the Coinage Clause—which gives Congress power to “coin money, regulate the value thereof”—as a novel justification for the institution. He concludes the book by explaining why a more robust account of the national bank controversy can help us understand the constitutional basis for modern American monetary politics.


Book Synopsis Reconstructing the National Bank Controversy by : Eric Lomazoff

Download or read book Reconstructing the National Bank Controversy written by Eric Lomazoff and published by University of Chicago Press. This book was released on 2018-11-07 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Bank of the United States sparked several rounds of intense debate over the meaning of the Constitution’s Necessary and Proper Clause, which authorizes the federal government to make laws that are “necessary” for exercising its other powers. Our standard account of the national bank controversy, however, is incomplete. The controversy was much more dynamic than a two-sided debate over a single constitutional provision and was shaped as much by politics as by law. With Reconstructing the National Bank Controversy, Eric Lomazoff offers a far more robust account of the constitutional politics of national banking between 1791 and 1832. During that time, three forces—changes within the Bank itself, growing tension over federal power within the Republican coalition, and the endurance of monetary turmoil beyond the War of 1812 —drove the development of our first major debate over the scope of federal power at least as much as the formal dimensions of the Constitution or the absence of a shared legal definition for the word “necessary.” These three forces—sometimes alone, sometimes in combination—repeatedly reshaped the terms on which the Bank’s constitutionality was contested. Lomazoff documents how these three dimensions of the polity changed over time and traces the manner in which they periodically led federal officials to adjust their claims about the Bank’s constitutionality. This includes the emergence of the Coinage Clause—which gives Congress power to “coin money, regulate the value thereof”—as a novel justification for the institution. He concludes the book by explaining why a more robust account of the national bank controversy can help us understand the constitutional basis for modern American monetary politics.

Back on the Road to Serfdom

Back on the Road to Serfdom

Author: Thomas Woods

Publisher: Simon and Schuster

Published: 2023-09-26

Total Pages: 177

ISBN-13: 1684516684

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Leviathan is back The threat of statism has reemerged in force. The federal government has radically expanded its power—through bailouts, “stimulus” packages, a trillion-dollar health-care plan, “jobs bills,” massive expansions of the money supply, and much more. But such interventionism did not suddenly materialize with the recent economic collapse. The dangerous trends of government growth, debt increases, encroachments on individual liberty, and attacks on the free market began years earlier and continued no matter which political party was in power. This shift toward statism “will not end happily,” declares bestselling author Thomas E. Woods. In Back on the Road to Serfdom, Woods brings together ten top scholars to examine why the size and scope of government has exploded, and to reveal the devastating consequences of succumbing to the statist temptation. Spanning history, economics, politics, religion, and the arts, Back on the Road to Serfdom shows: · How government interventionism endangers America’s prosperity and the vital culture of entrepreneurship · The roots of statism: from the seminal conflict between Thomas Jefferson and Alexander Hamilton to the vast expansion of federal power in the twentieth century · Why the standard explanation for the recent economic crisis is so terribly wrong—and why the government’s frenzied responses to the downturn only exacerbate the problems · Why the European welfare state is not a model to aspire to but a disaster to be avoided · How an intrusive state not only harms the economy but also imperils individual liberty and undermines the role of civil society · The fatal flaws in the now-common arguments against free markets and free trade · How big business is helping government pave the road to serfdom · Why the Judeo-Christian tradition does not demand support for the welfare state, but in fact values the free market · How the arrogance of government power extends even to the cultural realm—and how central planning is just as inefficient and destructive there It’s been more than sixty-five years since F. A. Hayek published his seminal work The Road to Serfdom. Now this impeccably timed book provides another desperately needed warning about—and corrective to—the dangers of statism.


Book Synopsis Back on the Road to Serfdom by : Thomas Woods

Download or read book Back on the Road to Serfdom written by Thomas Woods and published by Simon and Schuster. This book was released on 2023-09-26 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leviathan is back The threat of statism has reemerged in force. The federal government has radically expanded its power—through bailouts, “stimulus” packages, a trillion-dollar health-care plan, “jobs bills,” massive expansions of the money supply, and much more. But such interventionism did not suddenly materialize with the recent economic collapse. The dangerous trends of government growth, debt increases, encroachments on individual liberty, and attacks on the free market began years earlier and continued no matter which political party was in power. This shift toward statism “will not end happily,” declares bestselling author Thomas E. Woods. In Back on the Road to Serfdom, Woods brings together ten top scholars to examine why the size and scope of government has exploded, and to reveal the devastating consequences of succumbing to the statist temptation. Spanning history, economics, politics, religion, and the arts, Back on the Road to Serfdom shows: · How government interventionism endangers America’s prosperity and the vital culture of entrepreneurship · The roots of statism: from the seminal conflict between Thomas Jefferson and Alexander Hamilton to the vast expansion of federal power in the twentieth century · Why the standard explanation for the recent economic crisis is so terribly wrong—and why the government’s frenzied responses to the downturn only exacerbate the problems · Why the European welfare state is not a model to aspire to but a disaster to be avoided · How an intrusive state not only harms the economy but also imperils individual liberty and undermines the role of civil society · The fatal flaws in the now-common arguments against free markets and free trade · How big business is helping government pave the road to serfdom · Why the Judeo-Christian tradition does not demand support for the welfare state, but in fact values the free market · How the arrogance of government power extends even to the cultural realm—and how central planning is just as inefficient and destructive there It’s been more than sixty-five years since F. A. Hayek published his seminal work The Road to Serfdom. Now this impeccably timed book provides another desperately needed warning about—and corrective to—the dangers of statism.

Charting an American Republic

Charting an American Republic

Author: Jude M. Pfister

Publisher: McFarland

Published: 2016-09-08

Total Pages: 267

ISBN-13: 1476662312

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With the American revolutionaries in discord following victory at Yorktown and the Paris Peace Treaty of 1783, the proposed federal Constitution of 1787 faced an uncertain future when it was sent to the states for ratification. Sensing an historic moment, three authors--Alexander Hamilton, James Madison and John Jay--circulated 85 essays among their fellow statesmen, arguing for a strong federal union. Next to the Constitution itself, The Federalist papers are the most referenced statement of the Founding Fathers' intentions in forming the U.S. government. This book takes a fresh look at the papers in the context of the times in which they were created.


Book Synopsis Charting an American Republic by : Jude M. Pfister

Download or read book Charting an American Republic written by Jude M. Pfister and published by McFarland. This book was released on 2016-09-08 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the American revolutionaries in discord following victory at Yorktown and the Paris Peace Treaty of 1783, the proposed federal Constitution of 1787 faced an uncertain future when it was sent to the states for ratification. Sensing an historic moment, three authors--Alexander Hamilton, James Madison and John Jay--circulated 85 essays among their fellow statesmen, arguing for a strong federal union. Next to the Constitution itself, The Federalist papers are the most referenced statement of the Founding Fathers' intentions in forming the U.S. government. This book takes a fresh look at the papers in the context of the times in which they were created.

13 Bankers

13 Bankers

Author: Simon Johnson

Publisher: Vintage

Published: 2011-01-11

Total Pages: 338

ISBN-13: 030747660X

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In spite of its key role in creating the ruinous financial crisis of 2008, the American banking industry has grown bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks whose assets amount to more than 60 percent of the country’s gross domestic product, this oligarchy proved it could first hold the global economy hostage and then use its political muscle to fight off meaningful reform. 13 Bankers brilliantly charts the rise to power of the financial sector and forcefully argues that we must break up the big banks if we want to avoid future financial catastrophes. Updated, with additional analysis of the government’s recent attempt to reform the banking industry, this is a timely and expert account of our troubled political economy.


Book Synopsis 13 Bankers by : Simon Johnson

Download or read book 13 Bankers written by Simon Johnson and published by Vintage. This book was released on 2011-01-11 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: In spite of its key role in creating the ruinous financial crisis of 2008, the American banking industry has grown bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks whose assets amount to more than 60 percent of the country’s gross domestic product, this oligarchy proved it could first hold the global economy hostage and then use its political muscle to fight off meaningful reform. 13 Bankers brilliantly charts the rise to power of the financial sector and forcefully argues that we must break up the big banks if we want to avoid future financial catastrophes. Updated, with additional analysis of the government’s recent attempt to reform the banking industry, this is a timely and expert account of our troubled political economy.