One Nation Under Debt: Hamilton, Jefferson, and the History of What We OweMcGraw Hill Professional, 2008. gada 1. maijs - 432 lappuses 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. |
No grāmatas satura
1.5. rezultāts no 6.
... London market! Political squabbling over the debt's efficacy and a quasi-war with France (an undeclared naval war, 17981800) soon put U.S. bonds back in their place, at a discount to British bonds, but the spreads were not usually ...
... London bankers at 8 , 10 , and even higher rates of interest . " In 1672 , Charles II suddenly shut the Exchequer ( treasury ) and kept it closed a year and a half or so although only five years earlier he had issued a declaration ...
... London , a great city but financially unimportant before the Glorious Revolution , began its long career as a financial center , first for Europe , then for the world . Within a generation , London was home to a quasi - central bank ...
... London when it was discovered that he had purposely destroyed accounts to hide his tracks . ( And they say history doesn't repeat itself ! ) The directors and officers had to pay hefty penalties to the stock- holders , proportioned by ...
... London . was nurtured . Dutch and British and shared much in common with the debt of those countries , but it exhib- ited characteristics not found in either parent , no doubt due to the radically different environ- ment in which it was ...
Saturs
| 1 | |
| 17 | |
| 41 | |
The Constitution and the National Debt | 75 |
Alexander Hamiltons Grand Plan | 123 |
The Public Debt Grows Up Then Slims Down | 161 |
The Life and Times of Federal Bondholders in Virginia | 187 |
American Economic Growth | 237 |
Jacksons Triumph and Failure | 269 |
Appendix | 285 |
Notes | 333 |
Bibliography | 371 |
Index | 387 |
About the Author | 421 |
Citi izdevumi - Skatīt visu
One Nation Under Debt: Hamilton, Jefferson, and the History of What We Owe Robert E. Wright Priekšskatījums nav pieejams - 2008 |