American Economic History

Freed Black women organizing for protection in the Reconstruction-era South. Jewish immigrant garment workers braving deadly conditions for a sliver of independence. Asian American fieldworkers rejecting government-sanctioned indentured servitude across the Pacific. Incarcerated workers advocating for basic human rights and fair wages. The queer Black labor leader who helped orchestrate America’s civil rights movement. These are only some of the heroes who propelled American labor’s relentless push for fairness and equal protection under the law.

Built in the 1940s atop an infamous Italian slum, Cabrini-Green grew to 23 towers and a population of 20,000 - all of it packed onto just 70 acres a few blocks from Chicago's ritzy Gold Coast. Cabrini-Green became synonymous with crime, squalor, and the failure of government. For the many who lived there, it was also a much-needed resource - it was home. By 2011, every high-rise had been razed, the island of black poverty engulfed by the white affluence around it, the families dispersed.

Have you ever wondered why, despite decades of economic development, civil rights legislation and welfare programs, the economic status of African Americans always seem to lag behind nearly every other group? Why do members of other ethnic groups come to America from foreign countries and, within a few years, own most of the businesses in Black communities and, at the same time, treat us with utter contempt? Even when a few African Americans experience economic success, such as entertainers and athletes, why is it that so many of them end up penniless after generating millions of dollars in...

What happens when you take on the establishment? In Adults in the Room, renowned economist and former finance minister of Greece Yanis Varoufakis gives the full, blistering account of his momentous clash with the mightiest economic and political forces on earth.

Fifteen Cents on the Dollar follows the lives of four Black Millennial professionals and a banking company founded with the stated mission of closing the Black-white wealth gap. That company, known as Greenwood, a reference to the historic Black Wall Street district in Tulsa, Oklahoma, generated immense excitement and hope among people looking for new ways of business that might lead to greater equity. But the twists and turns of Greenwood’s journey also raise tough questions about what equality really means.

Two decades into the twenty-first century, the stagnation of living standards has become the defining trend of American life. Life expectancy has declined, economic inequality has soared, and, after some progress, the Black-white wage gap is once again as large as it was in the 1950s. How did this happen in the world’s most powerful country? And what happened to the “American dream”—the promise of a happier, healthier, more prosperous future—which was once such an inextricable part of our national identity?

In 1654, 23 Jewish families arrived in New Amsterdam (now New York) aboard a French privateer. They were the Sephardim, members of a proud orthodox sect that had served as royal advisors and honored professionals under Moorish rule in Spain and Portugal but were then exiled by intolerant monarchs. A small, closed, and intensely private community, the Sephardim soon established themselves as businessmen and financiers. They became powerful forces in society, with some, like banker Haym Salomon, even providing financial support to George Washington's army during the American Revolution.

From Lewis and Clark's 1804 expedition to the 2014 uprising in Ferguson, American history has been made in St. Louis. And as Walter Johnson shows in this searing book, the city exemplifies how imperialism, racism, and capitalism have persistently entwined to corrupt the nation's past. St. Louis was a staging post for Indian removal and imperial expansion, and its wealth grew on the backs of its poor Black residents, from slavery through redlining and urban renewal.

One of the greatest challenges for the African American community is a severe lack of power. Like caged animals in the zoo, millions of black people in America and across the world often feel that our lives are controlled by other people or that opportunities only enter our lives when they are created by our oppressors. This debilitating mindset can lead to hopelessness, depression and decision-making that is driven by fear rather than desire. Instead of believing that we possess the ability to improve our lives, we simply wait and hope that White Americans will one day have a change of heart.

For all the attempts to understand the state of American politics and the blue/red divide, we've ignored what economic and cultural loss can do to pride. What happens, Arlie Russell Hochschild asks, when a proud people in a hard-hit region suffer the deep loss of pride and are confronted with a powerful political appeal that makes it feel "stolen"? Hochschild's research drew her to Pikeville, Kentucky, in the heart of Appalachia, within the whitest and second-poorest congressional district in the nation.

This is an anecdotal approach to teaching high school students that history and economics are intertwined. The audiobook is designed to give the student a thumbnail sketch of a dozen events of merit in American history intertwined with the basic economic laws.

In The Unwinding, George Packer, author of The Assassins’ Gate: America in Iraq, tells the story of the United States over the past three decades in an utterly original way, with his characteristically sharp eye for detail and gift for weaving together complex narratives. The Unwinding portrays a superpower in danger of coming apart at the seams, its elites no longer elite, its institutions no longer working, its ordinary people left to improvise their own schemes for success and salvation.

Over the last generation, the United States has undergone seismic changes. Stable institutions have given way to frictionless transactions, which are celebrated no matter what collateral damage they generate. The concentration of great wealth has coincided with the fraying of social ties and the rise of inequality. How did all this come about? In Transaction Man, Nicholas Lemann explains the United States’ - and the world’s - great transformation by examining three remarkable individuals who epitomized and helped create their eras

Respected scholar William Bennett reacquaints America with its heritage in the second volume of America: The Last Best Hope (Volume II). This engaging narrative slices through the cobwebs of time, memory, and prevailing cynicism to reinvigorate America with an informed patriotism.

Billionaire Wilderness takes you inside the exclusive world of the ultra-wealthy, showing how today's richest people are using the natural environment to solve the existential dilemmas they face. Justin Farrell spent five years in Teton County, Wyoming, the richest county in the United States and a community where income inequality is the worst in the nation. He conducted hundreds of in-depth interviews, gaining unprecedented access to tech CEOs, Wall Street financiers, oil magnates, and other prominent figures in business and politics.

In Crash Course, Ingrassia answers the big questions: Was Detroit's self-destruction inevitable? What were the key turning points? Why did Japanese automakers manage American workers better than the American companies themselves? Ingrassia also describes dysfunctional corporate cultures (even as GM's market share plunged, the company continued business as usual) and Detroit's perverse system of "inverse layoffs" (which allowed union members to invoke seniority to avoid work).

When the Emancipation Proclamation was signed in 1863, the black community owned less than one percent of the United States' total wealth. More than 150 years later, that number has barely budged. The Color of Money pursues the persistence of this racial wealth gap by focusing on the generators of wealth in the black community: black banks. The catch-22 of black banking is that the very institutions needed to help communities escape the deep poverty caused by discrimination and segregation inevitably became victims of that same poverty.

In looking at the forces that shaped the 2016 presidential election, one thing is clear: Much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans. This is a belief held equally on both sides of political spectrum, and it seems only to be gaining momentum.

With command and wit, William J. Bennett reacquaints Americans with their heritage in an engaging narrative that cuts through the cobwebs of time, memory, and prevailing cynicism. Washington, Franklin, Lincoln, Roosevelt, and others reemerge not as marble icons or dust-dry names in a textbook, but as full-blooded, heroic pioneers whose far-reaching vision forged a nation that attracted - that still attracts - millions yearning to breathe free.

How did InBev, a Belgian company controlled by Brazilians, take over one of America's most beloved brands after barely a whimper of a fight? With timing - and some unexpected help from powerful members of the Busch dynasty, the very family that had run the company for more than a century. From the very heart of America's heartland to the European continent to Brazil, Dethroning the King is the ultimate corporate caper and a fascinating case study that's both wide-reaching and profound.