American Economic History

John Harvey Kellogg was one of America's most beloved physicians; a best-selling author, lecturer, and health-magazine publisher; founder of the Battle Creek Sanitarium; and patron saint of the pursuit of wellness. His youngest brother, Will, was the founder of the Battle Creek Toasted Corn Flake Company. In The Kelloggs, Howard Markel tells the sweeping saga of these two extraordinary men, whose lifelong competition and enmity toward one another changed America's notion of health and wellness and who helped change the course of American medicine, nutrition, wellness, and diet.

Race for Profit uncovers how exploitative real estate practices continued well after housing discrimination was banned. The same racist structures and individuals remained intact after redlining's end, and close relationships between regulators and the industry created incentives to ignore improprieties. Meanwhile, new policies meant to encourage low-income homeownership created new methods to exploit Black homeowners.

The definitive volume on Enron's amazing rise and scandalous fall, from an award-winning team of Fortune investigative reporters.

Racism and discrimination have choked economic opportunity for African Americans at nearly every turn. At several historic moments, the trajectory of racial inequality could have been altered dramatically. Perhaps no moment was more opportune than the early days of Reconstruction, when the US government temporarily implemented a major redistribution of land from former slaveholders to the newly emancipated enslaved.

Drive through rural America and you’ll see small town after small town empty and decaying. As you drive past the abandoned manufacturing plants and shuttered Victorian homes once inhabited by its workers and executives, you can picture what the town was like forty years ago. A thriving community where the company president and assembly line worker went to the same church and whose children went to the same school.

If you asked most people what forces led to today’s unprecedented income inequality and financial crashes, no one would say the Federal Reserve. For most of its history, the Fed has enjoyed the fawning adoration of the press. When the economy grew, it was credited to the Fed. When the economy imploded in 2008, the Fed got credit for rescuing us.

In the years immediately after the Civil War, tens of thousands of former slaves deposited millions of dollars into the Freedman's Bank. African Americans envisioned this new bank as a launching pad for economic growth and self-determination. But only nine years after it opened, their trust was betrayed and the Freedman's Bank collapsed. Fully informed by new archival findings, historian Justene Hill Edwards unearths a major turning point in American history in this comprehensive account of the Freedman's Bank and its depositors

No company embodied American ingenuity, innovation, and industrial power more spectacularly and more consistently than the General Electric Company. GE once developed and manufactured many of the inventions we take for granted today, nearly everything from the lightbulb to the jet engine. GE also built a cult of financial and leadership success envied across the globe and became the world’s most valuable and most admired company. But even at the height of its prestige and influence, cracks were forming in its formidable foundation.

The Left Behind Blacks: What’s Stopping Many from Moving Forward—And How to Change It For decades, Black Americans have been told that government programs and political loyalty are the keys to progress. Yet, despite trillions spent on social welfare, public housing, and affirmative action, Black Americans struggle economically more than many other racial groups. If these policies were truly the solution, why does Black America continue to lag behind in education, business ownership, and wealth accumulation? The answer is clear: government dependency has hurt Black communities more than ...

In a grand-scale narrative history, the bestselling author of two finalists for the Pulitzer Prize now captures the decades when capitalism was at its most unbridled and a few breathtakingly wealthy businessmen utterly transformed America from an agrarian economy to a world power.

Worshiped by Tea Party politicians but loathed by sane economists, gold has influenced American monetary policy and has exerted an irrational influence on the national psyche for centuries. It is an existential quest that extends to today, as millions of investors remain entranced by the metal and as right-wing presidential candidates present it as the antidote to our economic woes.

A gripping, groundbreaking biography of the combative man whose genius and force of will created modern capitalism. Founder of a dynasty, builder of the original Grand Central, creator of an impossibly vast fortune, Cornelius “Commodore” Vanderbilt is an American icon. Humbly born on Staten Island during George Washington’s presidency, he rose from boatman to builder of the nation’s largest fleet of steamships to lord of a railroad empire.

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?

Throughout the 20th century, "free enterprise" has been a contested keyword in American politics, and the cornerstone of a conservative philosophy that seeks to limit government involvement into economic matters. Lawrence B. Glickman shows how the idea first gained traction in American discourse and was championed by opponents of the New Deal. Those politicians, believing free enterprise to be a fundamental American value, held it up as an antidote to a liberalism that they maintained would lead toward totalitarian statism.

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.

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).

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.

Albert Richardson and Junius Browne, two correspondents for the New York Tribune, were captured at the Battle of Vicksburg and spent 20 months in horrific Confederate prisons before escaping and making their way to Union territory. Their amazing, long-forgotten odyssey is one of the great escape stories in American history, packed with drama, courage, horrors and heroics, plus many moments of antic comedy.

“Genius is one percent inspiration and ninety-nine percent perspiration.” This phrase, arguably Thomas Edison’s most famous quote, has been drilled into the minds of generations of Americans. A fairly straightforward iteration of the idea that innovation, discovery, and ingenuity are the result of drive and grit above all, it has also come to represent much darker myths: that hard work always leads to success and that achievement is the product of individuals and not communities.

A landmark work from one of the preeminent historians of our time: the first published biography of Andrew W. Mellon, the American colossus who bestrode the worlds of industry, government, and philanthropy, leaving his transformative stamp on each. Following a boyhood in 19th-century Pittsburgh, during which he learned from his Scotch-Irish immigrant father the lessons of self-sufficiency and wealth accumulation, Andrew Mellon overcame painful shyness to become one of America's greatest financiers.