Winners of wars have shaped economic institutions and trade patterns. Wars have influenced technological developments. Above all, recurring war has drained wealth, disrupted markets, and depressed economic growth. Economic Effects of War Wars are expensive in money and other resourcesdestructive of capital and human capitaland disruptive of trade, resource availability, labor management.
The standard of living of the modern age was born during this time of phenomenal transition. The middle class lived better than kings a century earlier.
And yet this period in history is mostly ignored in the classroom. Those who do address it are keen to debunk the overall trends and instead focus on the plight of small sectors, generally seeking to debunk the idea that it was a period of growth.
The finest response to the "revisionist" view was written by a young Robert Higgs. Fresh out of graduate school and not yet exposed to the Austrian literature, he used the tools he had to shore up the reputation of the Gilded Age and explain that the growth was real and it happened due to free markets and sound money.
The result is a book that still has no match as a rigorous account of the economic history of the time.
Among many other insights, he explains the wonderful effects of population movements from the country to the city and how this led to new forms of communication and sharing of ideas among the commercial classes. He explains how falling prices were not a disaster but rather a benefit to the population.
He defends the hands-off approach of the presidency and the absence of bureaucratic management. He shows that this period was the greatest triumph for mankind since the industrial revolution itself.
In this new edition, Higgs writes a new introduction to repudiates some of his methodological approach which he now finds to be excessively empirical and not drawing on the causal-realist tradition.
That said, the book holds up as an economic history. It is a fantastic thing to have this book available again to counter the propaganda that the Gilded Age was nothing but a time of Robber Barons and rising class conflict.
On the contrary, he argues, the masses have never before or even after benefited so much from an economic transformation.Facts, information and articles about Slavery In America, one of the causes of the civil war Slavery In America summary: Slavery in America began in the ea.
Was the American Civil War caused by slavery or economics Disagreements between the Nortrhern states and the Southern states had been evident for over thrity years prior to the war. The Civil War began with a largely symbolic battle at Fort Sumter, a battle in which the only fatality was a (southern) horse. Yet it immediately raised to national crisis a conflict that had been spilling blood regionally for decades. The perspective of what would quickly become the “Confederate. Course Summary History The American Civil War Era has been evaluated and recommended for 3 semester hours and may be transferred to over 2, colleges and universities.
MENU. VIDEOS. But if your image of the South’s plantation economy is a refined, agrarian ideal that changed little in two-and-a-half centuries, before the loathsome Yankees put an end.
, Billie. Letter, 2 January Accession 4 pages. Letter, 2 January , from a soldier named Billie at Petersburg, Virginia, to his sister Maggie describing the wintery weather conditions around Petersburg during the siege of Federal Government Growth Before the New Deal By Randall G. Holcombe Undoubtedly the biggest event in the growth of the federal government was the Civil War, which established its supremacy over the states.
and eventually to the whole economy. 6 When the federal income tax was introduced in , the highest tax bracket was 7 percent.
Academic papers on Colonial & Pre-Colonial America. The Treatment of the Indians by the Spanish in the New World 6 pages in length. Discusses the Spanish in the New World and how they considered the natives to be slave labor.
From Pre-Columbian to the New Millennium. The word history comes from the Greek word historía which means "to learn or know by inquiry." In the pieces that follow, we encourage you to probe, dispute, dig deeper — inquire.
History is not static. economy was dependent on the export of cotton Note: To receive maximum credit, two differences between the Northern and Southern economies before the Civil War found in .