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Books > History > History of specific subjects > Economic history
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Cotton Capitalists - American Jewish Entrepreneurship in the Reconstruction Era (Hardcover)
Loot Price: R1,447
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Cotton Capitalists - American Jewish Entrepreneurship in the Reconstruction Era (Hardcover)
Series: Goldstein-Goren Series in American Jewish History
Expected to ship within 10 - 15 working days
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Honorable Mention, 2019 Saul Viener Book Prize, given by the
American Jewish Historical Society A vivid history of the American
Jewish merchants who concentrated in the nation's most important
economic sector In the nineteenth century, Jewish merchants created
a thriving niche economy in the United States' most important
industry-cotton-positioning themselves at the forefront of
expansion during the Reconstruction Era. Jewish success in the
cotton industry was transformative for both Jewish communities and
their development, and for the broader economic restructuring of
the South. Cotton Capitalists analyzes this niche economy and
reveals its origins. Michael R. Cohen argues that Jewish merchants'
status as a minority fueled their success by fostering ethnic
networks of trust. Trust in the nineteenth century was the
cornerstone of economic transactions, and this trust was largely
fostered by ethnicity. Much as money flowed along ethnic lines
between Anglo-American banks, Jewish merchants in the Gulf South
used their own ethnic ties with other Jewish-owned firms in New
York, as well as Jewish investors across the globe, to capitalize
their businesses. They relied on these family connections to direct
Northern credit and goods to the war-torn South, avoiding the
constraints of the anti-Jewish prejudices which had previously
denied them access to credit, allowing them to survive economic
downturns. These American Jewish merchants reveal that ethnicity
matters in the development of global capitalism. Ethnic minorities
are and have frequently been at the forefront of entrepreneurship,
finding innovative ways to expand narrow sectors of the economy.
While this was certainly the case for Jews, it has also been true
for other immigrant groups more broadly. The story of Jews in the
American cotton trade is far more than the story of American Jewish
success and integration-it is the story of the role of ethnicity in
the development of global capitalism.
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