Search results for ""Author Robert E. Wright""

The nature of America's early economy has been hotly contested for several decades. Historians have often focused on the question of when America became 'capitalist,' while economists have tried to determine when American economic growth sped up. In The Origins of Commercial Banking in America, Robert E. Wright argues that the ultimate causes of American economic development and transformation into a modern society can be reduced to the causes of American banking. In the first full analysis of the origins of American commercial banking since Bray Hammond's monumental study forty-five years ago, Wright skillfully examines the political and economic forces that contributed to the origins and rise of banks in cities such as Philadelphia, New York, and Boston, as well as in smaller towns servicing rural America. Wright expertly assesses the impact of the war for independence, Superintendent of Finance Robert Morris' policies under the Confederation, the economic and political effects of the postwar depression of 1784-86, the attempts of the Constitutional Convention of 1787 to address the country's economic problems, and Secretary of the Treasury Alexander Hamilton's financial program under the new Constitution. Wright looks at both the macro and micro sides of issues—how state and national governments addressed problems and chartered (and sometimes unchartered banks) as well as how private individuals tried to cope with the need to obtain capital and the effects on them of early bankruptcy laws. He describes the varied and sometimes arcane financial and commercial instruments that existed both before and after the establishment of banks, and how they fostered economic development. We are introduced to an emerging capitalist system struggling to provide capital needed by America's voracious economy. The Origins of Commercial Banking in America is essential reading for anyone interested in the political and economic origins of the early republic.

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From bank bailouts and corporate scandals to the financial panic of 2008 and its lingering effects, corporate governance in America has been wracked by crises. Amid a weakening system of checks and balances in which corporate executives have little incentive to protect shareholder interests, U.S. corporations are growing larger and more irresponsible at the same time. But dependence on corporate profit was crucial to the early republic's growth, success, and security: despite protests that incorporated business was an inefficient and potentially corrupting system, U.S. state governments chartered more corporations per capita than any other nation—including Britain—effectively making the United States a "corporation nation." Drawing on legal and economic history, Robert E. Wright traces the development and decline of corporate institutions in America, connecting today's financial failures to deteriorating corporate law. In the nineteenth century, checks and balances kept managerial interests aligned with those of stockholders, and public opinion grew supportive as corporations raised billions of dollars to finance infrastructure such as transportation networks, financial systems, and manufacturing operations. But many of these checks and balances were dismantled after the Civil War, creating a space for the managerial malfeasance that spiraled into economic crisis in the twenty-first century. Bolstered with archival and original data, including the first complete count of American business corporations before the Civil War, Corporation Nation makes a compelling argument for improved internal governance and more effective external government regulation.

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When Americans think of investment and finance, they think of Wall Street - though this was not always the case. During the dawn of the Republic, Philadelphia was the center of American finance. The first stock exchange in the nation was founded there in 1790, and around it the bustling thoroughfare known as Chestnut Street was home to the nation's most powerful financial institutions. "The First Wall Street" recounts the fascinating history of Chestnut Street and its forgotten role in the birth of American finance. According to Robert E. Wright, Philadelphia, known for its cultivation of liberty and freedom, blossomed into a financial epicenter during the nation's colonial period. The continent's most prodigious minds and talented financiers flocked to Philly in droves, and by the eve of the Revolution, the Quaker City was the most financially sophisticated region in North America. "The First Wall Street" reveals how the city played a leading role in the financing of the American Revolution and emerged from that titanic struggle with not just the wealth it forged in the crucible of war, but an invaluable amount of human capital as well. This capital helped make Philadelphia home to the Bank of the United States, the U.S. Mint, an active securities exchange, and several banks and insurance companies - all clustered in or around Chestnut Street. But as the decades passed, financial institutions were lured to New York, and by the late 1820s only the powerful Second Bank of the United States upheld Philadelphia's financial stature. But when Andrew Jackson vetoed its charter, he sealed the fate of Chestnut Street forever - and of Wall Street too. Finely nuanced and elegantly written, "The First Wall Street" will appeal to anyone interested in the history of the United States and the origins of its unrivaled economy.

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Changing Scotland uses longitudinal data from the British Household Panel Survey to improve our knowledge and understanding of the impact of devolution on the lives of people in Scotland. It is the first time that BHPS data has been used in this way. The book provides a detailed examination of social, economic, demographic and political differences, especially those involving dynamic behaviour such as residential mobility, unemployment duration, job mobility, income inequality, poverty, health and deprivation, national identity, family structure and other aspects of individual's lives as they change over time. This data provides a 'baseline' for policy formulation and for analysing the impact of subsequent differential developments arising out of devolution. The book is also an invaluable resource for establishing pre-existing differences between England and Scotland and evaluating the impact of policy initiatives by the Scottish Executive.

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Turn Crisis Into CashMoney matters got a lot scarier in 2020 and there is no end to the volatility in sight. Crisis means danger but also opportunity. To turn a profit during the next bust, or the next burst of inflation, individual investors and businesspeople must understand the economics of money, banking, and finance.That's what this book provides, in concise and understandable prose, with pictures. Understand inflation and interest rates, stock prices, money and monetary policy, and the basics of information and macroeconomic theory in short order.You might not beat the market after reading just this book, but if you learn its lessons the market won't beat up your business or investment portfolio the next time the economy tanks due to pandemic, war, high taxes, or alien invasion.

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Turn Crisis Into CashMoney matters got a lot scarier in 2020 and there is no end to the volatility in sight. Crisis means danger but also opportunity. To turn a profit during the next bust, or the next burst of inflation, individual investors and businesspeople must understand the economics of money, banking, and finance.That's what this book provides, in concise and understandable prose, with pictures. Understand inflation and interest rates, stock prices, money and monetary policy, and the basics of information and macroeconomic theory in short order.You might not beat the market after reading just this book, but if you learn its lessons the market won't beat up your business or investment portfolio the next time the economy tanks due to pandemic, war, high taxes, or alien invasion.

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A lively history of one of America's oldest publishing houses, published in conjunction with Wiley's bicentennial Founded in New York City when Thomas Jefferson was president, Wiley has been a significant player in the publishing industry for two centuries. Now, on the occasion of Wiley's bicentennial, a distinguished team of authors brings Wiley's rich history to life, showing how the company has reacted to trends within the publishing industry as well as to larger economic, social, and cultural forces. Knowledge for Generations sheds light on the long-term strengths and weaknesses of Wiley's business, illuminates the continuities and changes over time, and shows how family ownership has influenced the company's strategies, values, and corporate culture. Drawing on unrestricted access to company archives and interviews with key executives, the authors capture a story of sustained business success, intriguing personalities, and dramatic changes in the industry. Illustrated throughout with illuminating photographs and graphics, Knowledge for Generations is a must-read for anyone interested in the history of publishing.

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This innovative book presents a series of up-to-date analyses of the economics of outdoor recreation. The distinguished group of authors covers real-world recreation management issues and applies economic understanding to these problems. An extensive introduction by the editors details the historical background of economists' interests in this subject, and reveals how economics can provide practical insights into improving how we manage our natural recreation areas.The book is divided into three parts, each of which focuses on a specific environmental resource: mountains, forests, and rivers and the sea. An array of valuation methods - including stated preference and revealed preference techniques - are then applied to various outdoor recreation activities which occur in these different settings. These include such diverse pursuits as rock climbing, skiing, fishing, hunting and whale watching. The authors clearly demonstrate how recreation modelling can offer a productive link between people (their preferences and behaviour) and the natural environment.With extensive empirical examples from Europe and North America, this book will be of great value to economists, governments and NGOs who are interested in the environment, development and tourism. It will also be a valuable source of reference for policymakers concerned with land use and natural resource management, and students of environmental and resource economics.

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