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The Merchants' Capital - New Orleans and the Political Economy of the Nineteenth-Century South (Hardcover, New)
Loot Price: R2,282
Discovery Miles 22 820
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The Merchants' Capital - New Orleans and the Political Economy of the Nineteenth-Century South (Hardcover, New)
Series: Cambridge Studies on the American South
Expected to ship within 12 - 19 working days
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As cotton production shifted toward the southwestern states during
the first half of the nineteenth century, New Orleans became
increasingly important to the South's plantation economy. Handling
the city's wide-ranging commerce was a globally oriented business
community that represented a qualitatively unique form of wealth
accumulation - merchant capital - that was based on the extraction
of profit from exchange processes. However, like the slave-based
mode of production with which they were allied, New Orleans
merchants faced growing pressures during the antebellum era. Their
complacent failure to improve the port's infrastructure or invest
in manufacturing left them vulnerable to competition from the
fast-developing industrial economy of the North, weaknesses that
were fatally exposed during the Civil War and Reconstruction.
Changes to regional and national economic structures after the
Union victory prevented New Orleans from recovering its commercial
dominance, and the former first-rank American city quickly devolved
into a notorious site of political corruption and endemic poverty.
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