Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton:...
Transcript of Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton:...
![Page 1: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/1.jpg)
511
Economic History, Historical Analysis, and the“New History of Capitalism”
ERIC HILT
This article presents a critical survey of ten books from the history of capitalism, a newly
EJournal of Economic History
1 Journal of Economic History
-
-
The Journal of Economic History
1
![Page 2: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/2.jpg)
Hilt
-
-
economic history, which seeks to analyze historical economic behavior, historians of
![Page 3: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/3.jpg)
History of Capitalism
-
Source
TABLE 1
Empire of Cotton: A Global History.
The Half Has Never Been Told: Slavery and the Making of American Capitalism.
River of Dark Dreams: Slavery and Empire in the Cotton Kingdom
Freaks of Fortune: The Emerging World of Risk in America
Railroaded: The Transcontinentals and the Making of Modern America
Debtor Nation: The History of America in Red Ink
When Wall Street Met Main Street: The Quest for an Investor’s Democracy
Invisible Hands: The Businessmen’s Crusade Against the New Deal
Goddess of the Market: Ayn Rand and the American Right
To Serve God and Wal-Mart: The Making of Christian Free Enterprise
![Page 4: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/4.jpg)
Hilt
The Great Transformation: The Political and Economic Origins of Our Time -
utor to the Journal of Economic History-
The Great Transformation makes several arguments that are
-
that markets are natural institutions, whereas “there was nothing natural about laissez-fairetheir course…laissez-faire
-
![Page 5: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/5.jpg)
History of Capitalism 515
-
-
performs a vitally important function, but the very nature of that function makes it
Books on Slavery, Cotton and Capitalism
![Page 6: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/6.jpg)
Hilt
-
Empire of Cotton: A Global History. The
5
-
Capitalism and Slavery
-
Journal of Economic History The Half Has Never Been Told
5
![Page 7: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/7.jpg)
History of Capitalism
The Great Divergence,
-
-
The Half Has Never Been Told: Slavery and the Making of American Capitalism
-
![Page 8: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/8.jpg)
Hilt
11 The focus of The Half Has Never Been Told
all
-
The Half Has Never Been Told -
overstatements as those who have sought to minimize the viciousness of slavery have
11
Slavery and Capitalism
![Page 9: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/9.jpg)
History of Capitalism
The Half that Has Never Been Told River of Dark Dreams: Slavery and Empire in the Cotton Kingdom
River of Dark Dreams
--
-
-
-
-
These three books serve as an interesting counterpoint to the economic history
15
15
![Page 10: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/10.jpg)
Hilt
-
-
Time on the Cross
---
Time on the Cross
![Page 11: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/11.jpg)
History of Capitalism
Real-estate property owners typically have a strong incentive to support urbanization or
--
Books on Finance, Risk, and Insurance
Freaks of Fortune: The Emerging World of Capitalism and Risk in America.
-
-Freaks of Fortune can be thought of as a
re-telling of elements of The Great Transformation
![Page 12: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/12.jpg)
Hilt
-
--
![Page 13: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/13.jpg)
History of Capitalism
Railroaded: The Transcontinentals and the Making of Modern America
-
Freaks of Fortune, this book will frustrate the economic historians who
-
-
![Page 14: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/14.jpg)
Hilt
Debtor Nation: The History of America in Red Ink
When Wall Street Met Main Street: The Quest for an Investor’s Democracy chronicles the emergence of mass participation in securities markets in the
Debtor Nation
-
-
-
-
![Page 15: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/15.jpg)
History of Capitalism
When Wall Street Met Main Street
-
-
Debtor Nation
Books on Conservative Economic Doctrines of the Late Twentieth Century
-
![Page 16: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/16.jpg)
Hilt
Invisible Hands: The Businessmen’s Crusade Against the New Deal
-
-
Goddess of the Market: Ayn Rand and the American Right
Goddess of the Market
Goddess of the Market complements Invisible Hands -
-Roofs or
Ceilings-
![Page 17: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/17.jpg)
History of Capitalism
Invisible HandsTo Serve God and Wal-Mart: The Making of Christian Free
Enterprise
-
as Wal-Mart World-
-
-
![Page 18: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/18.jpg)
Hilt
these books lack any analysis of the role institutions play in shaping or constraining
might highlight sources of intertemporal continuity in the analysis of historians of capi-Freaks of Fortune Debtor Nation When Wall Street
Met Main Street
-
![Page 19: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/19.jpg)
History of Capitalism
-
Rather, it is because all statements
-gate counterfactuals not by specifying counterfactual histories, but by comparing cases
The books by historians of capitalism all make causal statements, which contain
-
the American Cotton Planter
![Page 20: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/20.jpg)
Hilt
--
-
River of Dark Dreams contains a rejection of such counterfactual analysis, might
Railroaded: The Transcontinentals and the Making of Modern America -
When Main Street Met Wall Street
![Page 21: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/21.jpg)
History of Capitalism
-
Invisible Hands Goddess of the Market both follow the
are intellectual histories, but lurking within them are counterfactuals about the impact of
-
![Page 22: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/22.jpg)
Hilt
the two communities of scholars might be for economic historians to join historians -
The two-
-
-
The emergence of the new history of capitalism marks a return to research on
--
The popularity of the books by historians of capitalism also suggests some lessons for
![Page 23: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/23.jpg)
History of Capitalism
American Economic Review
Journal of Economic Literature
The British Industrial Revolution in Global Perspective
The Half Has Never Been Told: Slavery and the Making of American Capitalism.
American History Now
Empire of Cotton: A Global History.History of Building and Loan in the United States
Goddess of the Market: Ayn Rand and the American Right
American Historical Review
The Reorganization of the American Railroad System, 1893–1900
Investment Banking in AmericaThe Visible Hand: The Managerial Revolution in American Business
Debtors and Creditors in America: Insolvency, Imprisonment for Debt, and Bankruptcy 1607–1900.
Journal of Economic History
American Economic Review
Quarterly Journal of EconomicsThe Industrious Revolution Consumer Behavior and the Household Economy,
1650 to the Present.From Slavery to Freedom: Comparative Studies in the Rise and Fall of
Atlantic SlaveryTransitions to Capitalism in Early Modern Europe
Economic History Review
Journal of Economic History
Journal of Economic Perspectives
Journal of Economic History
Economic Development in the Americas Since 1500s.
![Page 24: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/24.jpg)
Hilt
Altered Pasts: Counterfactuals in History
Power and Plenty: Trade, War, and the World Economy in the Second Millennium.
American Economic Review
American Railroads and the Transformation of the Antebellum Economy.
Railroads and American Economic Growth: Essays in Econometric History.
Without Consent or Contract: The Rise and Fall of American Slavery
Time on the Cross: The Economics of American Negro Slavery.
Agricultural History
Journal of Economic Perspectives
Walter Lippman: Public Economist
American Political Science Review
Financial History Review
Research in Economic History
Journal of Economic HistoryBusiness History
Annual Review of Financial Economics
Growth in a Traditional Society: The French Countryside, 1450–1815
Conceptualizing Capitalism: Institutions, Evolution, Future
Debtor Nation: The History of America in Red Ink.
Africans and the Industrial Revolution in England: A Study in International Trade and Development.
Explorations in Economic HistoryRiver of Dark Dreams: Slavery and Empire in the Cotton Kingdom
Enterprising America: Businesses, Banks, and Credit Markets in Historical
![Page 25: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/25.jpg)
History of Capitalism
Perspective
Freaks of Fortune: The Emerging World of Capitalism and Risk in America
Capital, A Critique of Political Economy. Volume III.
The Speculation Economy: How Finance Triumphed Over Industry.
The Enlightened Economy: An Economic History of Britain 1700–1850
To Serve God and Wal-Mart: The Making of Christian Free Enterprise.
The Half Has Never Been Told Journal of Economic History
The Cambridge History of Capitalism
The Cambridge History of Capitalism
The Economic Growth of the United States 1790–1860
Journal of Economic PerspectivesInternational Labor and Working
Class History
Creating Abundance: Biological Innovation and American Agricultural Development.
When Wall Street Met Main Street: The Quest for an Investor’s Democracy.
Political Science Quarterly
Invisible Hands: The Businessmen’s Crusade Against the New Deal
The Great Transformation: The Political and Economic Origins of Our Time
The Great Divergence: China, Europe and the Making of the Modern World Economy.
Harvard Law Review
Cotton: The Fabric that Made the Modern World.
From Market-Places to a Market Economy: The Transformation of Rural Massachusetts, 1750–1850.
American Quarterly
![Page 26: Economic History, Historical Analysis, and the“New History ... · %HFNHUW 6YHQ Empire of Cotton: A Global History. &DPEULGJH +DUYDUG 8QLYHUVLW\ 3UHVV %DSWLVW (GZDUG The Half Has](https://reader035.fdocuments.in/reader035/viewer/2022070717/5edc063cad6a402d6666832f/html5/thumbnails/26.jpg)
Hilt
Business Cycles: A Theoretical, Historical, And Statistical Analysis of the Capitalist Process
The Market Revolution: Jacksonian America, 1815–1846
Journal of Economic HistoryExplorations in
Economic HistorySocial Science
History
Journal of Economic History
Journal of the European Economic AssociationHistory and
Theory
Journal of Economic History
Railroaded: The Transcontinentals and the Making of Modern America
Capitalism and SlaveryThe Political Economy of the Cotton South
Old South, New South: Revolutions in the Southern Economy Since the Civil War.
Slavery and American Economic Development
River of Dark Dreams Journal of Economic Literature