American Economic Policy from the Revolution to the New DealWilliam Letwin Transaction Publishers - 406 pages The documents in this volume reflect the great debates that have shaped this country's economic life. Covering a wide variety of problems, they show how each was treated at a moment when it was politically urgent. Since they were efforts at persuasion, usually addressed to a wide audience, they are coherent and self-contained and avoid technical jargon. They therefore present clear and vivid evidence of what men have desired and hoped to achieve, and explain not only much that is critical about how Americans lived in the past but much also about the inheritance of the present. From the overwhelming mass of available documents, a representative group has been chosen here. Among the twenty-nine included are: Hamilton's Report on Manufactures, which helped set the American attitude on economic growth; Andrew Jackson's veto message on the bill to renew the charter of the Bank of the United States; the first annual report of the Interstate Commerce Commission, which put the railroads under federal regulation; William Jennings Bryan's famous Cross of Gold speech, which helped him win the Democratic nomination in 1896; the conclusions of the Pujo Committee's report on the money market, which were instrumental in setting up the Federal Reserve System; and key documents on the National Recovery Administration, one of Franklin D. Roosevelt's major moves in his fight against the depression. In his introductory essay, the editor summarizes the forces and movements that helped to make American economic policy "exceedingly confused and therefore very annoying to historians and economists," But, he insists, this very confusion reduced "the extremism and disorder potentially so great in the United States . . . to remarkable moderation." William Letwin is professor emeritus at the London School of Economics. He has published many articles and reviews in learned and popular journals. He took his undergraduate work at the University of Chicago and did graduate work there and at the London School of Economics. After receiving the degree of Doctor of Philosophy from the Committee on Social Thought of the University of Chicago, he stayed on at the university as Research Associate in the Law School and Postdoctoral Fellow in the Department of Economics. |
From inside the book
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... agriculture or in manufactures, or in any other way." But, while the exclusive productiveness of agricultural labor has been thus denied and refuted, the superiority of its productiveness has been conceded without hesitation. As this ...
... agriculture, it would not be a strained conjecture, that the labor employed in the former, being at once more ... agricultural labor, turns upon the allegation, that labor employed on manufactures yields nothing equivalent to the ...
... in one way, be greater or less than the whole value produced from an equal capital and an equal quantity of labor, employed in the other way; or rather, perhaps, whether the business of agriculture, or that of 12 1789-1862.
... agricultural industry, according to a compound ratio of capital and labor. But it is on this last point that there ... agriculture. The foregoing suggestions are not designed to inculcate an opinion that manufacturing industry is more ...
... agriculture— to the prejudice of those who carry it on; and though, if it be really essential to the prosperity of any very important national manufacture, it may happen that those who are injured, in the first instance, may be ...
Contents
3 | |
B INTERNAL IMPROVEMENTS | 53 |
CORPORATION LAW | 85 |
CENTRAL BANKING | 112 |
E REGULATION OF RAILROADS | 157 |
F ANTITRUST POLICY | 199 |
G MONETARY POLICY | 247 |
H CONSERVATION | 273 |
INCOME TAXATION | 292 |
J IMMIGRATION POLICY | 323 |
1923 | 332 |
K AGRICULTURAL PRICE SUPPORTS | 342 |
THE NATIONAL RECOVERY ADMINISTRATION | 362 |
REGULATION OF THE FINANCIAL MARKET | 395 |
Other editions - View all
American Economic Policy from the Revolution to the New Deal William Letwin No preview available - 2007 |