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Books > Social sciences > Politics & government > Political structure & processes > Elections & referenda
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Electoral Capitalism - The Party System in New York's Gilded Age (Hardcover)
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Electoral Capitalism - The Party System in New York's Gilded Age (Hardcover)
Series: American Governance: Politics, Policy, and Public Law
Expected to ship within 12 - 17 working days
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Vast fortunes grew out of the party system during the Gilded Age.
In New York, party leaders experimented with novel ways to
accumulate capital for political competition and personal business.
Partisans established banks. They drove a speculative frenzy in
finance, real estate, and railroads. And they built empires that
stretched from mining to steamboats, and from liquor distilleries
to newspapers. Control over political property-party organizations,
public charters, taxpayer subsidies, and political offices-served
to form governing coalitions, and to mobilize voting blocs. In
Electoral Capitalism, Jeffrey D. Broxmeyer reappraises the
controversy over wealth inequality, and why this period was so
combustible. As ranks of the dispossessed swelled, an outpouring of
claims transformed the old spoils system into relief for the
politically connected poor. A vibrant but scorned culture of petty
officeholding thus emerged. By the turn of the century, an upsurge
of grassroots protest sought to dislodge political bosses from
their apex by severing the link between party and capital.
Examining New York, and its outsized role in national affairs,
Broxmeyer demonstrates that electoral capitalism was a category of
entrepreneurship in which the capture of public office and the
accumulation of wealth were mutually reinforcing. The book uncovers
hidden economic ties that wove together presidents, senators, and
mayors with business allies, spoilsmen, and voters. Today, great
political fortunes have dramatically returned. As current public
debates invite parallels with the Gilded Age, Broxmeyer offers
historical and theoretical tools to make sense of how politics
begets wealth.
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