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Building the Empire State - Political Economy in the Early Republic (Hardcover)
Loot Price: R1,758
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Building the Empire State - Political Economy in the Early Republic (Hardcover)
Series: American Business, Politics, and Society
Expected to ship within 10 - 15 working days
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Building the Empire State examines the origins of American
capitalism by tracing how and why business corporations were first
introduced into the economy of the early republic. Brian Phillips
Murphy follows the collaborations between political leaders and a
group of unelected political entrepreneurs, including Robert R.
Livingston and Alexander Hamilton, who persuaded legislative powers
to grant monopolies corporate status in order to finance and manage
civic institutions. Murphy shows how American capitalism grew out
of the convergence of political and economic interests, wherein
political culture was shaped by business strategies and
institutions as much as the reverse. Focusing on the state of New
York, a onetime mercantile colony that became home to the first
American banks, utilities, canals, and transportation
infrastructure projects, Building the Empire State surveys the
changing institutional ecology during the first five decades
following the American Revolution. Through sustained attention to
the Manhattan Company, the steamboat monopoly, the Erie Canal, and
the New York & Erie Railroad, Murphy traces the ways
entrepreneurs marshaled political and financial capital to sway
legislators to support their private plans and interests. By
playing a central role in the creation and regulation of
institutions that facilitated private commercial transactions, New
York State's political officials created formal and informal
precedents for the political economy throughout the northeastern
United States and toward the expanding westward frontier. The
political, economic, and legal consequences organizing the
marketplace in this way continue to be felt in the vast influence
and privileged position held by corporations in the present day.
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