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Brahmin Capitalism - Frontiers of Wealth and Populism in America's First Gilded Age (Hardcover)
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Brahmin Capitalism - Frontiers of Wealth and Populism in America's First Gilded Age (Hardcover)
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Tracking the movement of finance capital toward far-flung
investment frontiers, Noam Maggor reconceives the emergence of
modern capitalism in the United States. Brahmin Capitalism reveals
the decisive role of established wealth in the transformation of
the American economy in the decades after the Civil War, leading
the way to the nationally integrated corporate capitalism of the
twentieth century. Maggor's provocative history of the Gilded Age
explores how the moneyed elite in Boston-the quintessential East
Coast establishment-leveraged their wealth to forge
transcontinental networks of commodities, labor, and
transportation. With the decline of cotton-based textile
manufacturing in New England and the abolition of slavery, these
gentleman bankers traveled far and wide in search of new business
opportunities and found them in the mines, railroads, and
industries of the Great West. Their investments spawned new
political and social conflict, in both the urbanizing East and the
expanding West. In contests that had lasting implications for
wealth, government, and inequality, financial power collided with
more democratic visions of economic progress. Rather than being
driven inexorably by technologies like the railroad and telegraph,
the new capitalist geography was a grand and highly contentious
undertaking, Maggor shows, one that proved pivotal for the rise of
the United States as the world's leading industrial nation.
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