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Founding Finance - How Debt, Speculation, Foreclosures, Protests, and Crackdowns Made Us a Nation (Paperback)
Loot Price: R418
Discovery Miles 4 180
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Founding Finance - How Debt, Speculation, Foreclosures, Protests, and Crackdowns Made Us a Nation (Paperback)
Series: Discovering America
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Loot Price R418
Discovery Miles 4 180
Expected to ship within 12 - 17 working days
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Recent movements such as the Tea Party and anti-tax "constitutional
conservatism" lay claim to the finance and taxation ideas of
America's founders, but how much do we really know about the
dramatic clashes over finance and economics that marked the
founding of America? Dissenting from both right-wing claims and
certain liberal preconceptions, Founding Finance brings to life the
violent conflicts over economics, class, and finance that played
directly, and in many ways ironically, into the hardball politics
of forming the nation and ratifying the Constitution-conflicts that
still continue to affect our politics, legislation, and debate
today. Mixing lively narrative with fresh views of America's
founders, William Hogeland offers a new perspective on America's
economic infancy: foreclosure crises that make our current one look
mild; investment bubbles in land and securities that drove rich men
to high-risk borrowing and mad displays of ostentation before
dropping them into debtors' prisons; depressions longer and deeper
than the great one of the twentieth century; crony mercantilism,
war profiteering, and government corruption that undermine any
nostalgia for a virtuous early republic; and predatory lending of
scarce cash at exorbitant, unregulated rates, which forced people
into bankruptcy, landlessness, and working in the factories and on
the commercial farms of their creditors. This story exposes and
corrects a perpetual historical denial-by movements across the
political spectrum-of America's all-important founding economic
clashes, a denial that weakens and cheapens public discourse on
American finance just when we need it most.
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