This collection of fifteen essays presents the views of some of the world's most distinguished economists on what is emerging as the central topic of the twenty-first century: long-term economic growth.

This collection of fifteen essays presents the views of some of the world's most distinguished economists on what is emerging as the central topic of the twenty-first century: long-term economic growth.

Winner of the Alice Hanson Jones Prize, Economic History Association A Choice Outstanding Academic Title of the Year The civil rights movement was also a struggle for economic justice, one that until now has not had its own history. Sharing the Prize demonstrates the significant material gains black southerners made-in improved job opportunities, quality of education, and health care-from the 1960s to the 1970s and beyond. Because black advances did not come at the expense of southern whites, Gavin Wright argues, the civil rights struggle was that rarest of social revolutions: one that benefits both sides. "Wright argues that government action spurred by the civil-rights movement corrected a misfiring market, generating large economic gains that private companies had been unable to seize on their own." -The Economist "Written...with the care and imagination [Wright] displayed in his superb work on slavery and the southern economy since the Civil War, this excellent economic history offers the best empirical account to date of the effects the civil rights revolution had on southern labor markets, schools, and other important institutions...With much of the nation persuaded that a post-racial age has begun, Wright's analytical history...takes on fresh urgency." -Ira Katznelson, New York Review of Books

Though it had helped define the New South era, the first wave of regional industrialization had clearly lost momentum even before the Great Depression. These nine original case studies look at how World War II and its aftermath transformed the economy, culture, and politics of the South.From perspectives grounded in geography, law, history, sociology, and economics, several contributors look at southern industrial sectors old and new: aircraft and defense, cotton textiles, timber and pulp, carpeting, oil refining and petrochemicals, and automobiles. One essay challenges the perception that southern industrial growth was spurred by a disproportionate share of federal investment during and after the war. In covering the variety of technological, managerial, and spatial transitions brought about by the South's "second wave" of industrialization, the case studies also identify a set of themes crucial to understanding regional dynamics: investment and development; workforce training; planning, cost-containment, and environmental concerns; equal employment opportunities; rural-to-urban shifts and the decay of local economies entrepreneurism; and coordination of supply, service, and manufacturing processes. From boardroom to factory floor, the variety of perspectives in The Second Wave will significantly widen our understanding of the dramatic reshaping of the region in the decades after 1940.

In this provocative and intricate analysis of the postbellum southern economy, Gavin Wright finds in the South's peculiar labor market the answer to the perennial question of why the region remained backward for so long. After the Civil War, Wright explains, the South continued to be a low-wage regional market embedded in a high-wage national economy. He vividly details the origins, workings, and ultimate demise of that distinct system. The post-World War II southern economy, which created today's Sunbelt, Wright shows, is not the result of the evolution of the old system, but the product of a revolution brought on by the New Deal and World War II that shattered the South's stagnant structure and created a genuinely new, thriving order.

Slavery and American Economic Development is a small book with a big interpretative punch. It is one of those rare books about a familiar subject that manages to seem fresh and new. Charles B. Dew, Journal of Interdisciplinary History A stunning reinterpretation of southern economic history and what is perhaps the most important book in the field since Time on the Cross. . . . I frequently found myself forced to rethink long-held positions. Russell R. Menard, Civil War History Through an analysis of slavery as an economic institution, Gavin Wright presents an innovative look at the economic divergence between North and South in the antebellum era. He draws a distinction between slavery as a form of work organization the aspect that has dominated historical debates and slavery as a set of property rights. Slave-based commerce remained central to the eighteenth-century rise of the Atlantic economy, not because slave plantations were superior as a method of organizing production, but because slaves could be put to work on sugar plantations that could not have attracted free labor on economically viable terms. Gavin Wright is William Robertson Coe Professor in American Economic History at Stanford University and the author of The Political Economy of the Cotton South and Old South, New South: Revolutions in the Southern Economy Since the Civil War, winner of the Frank L. and Harriet C. Owsley Award of the Southern Historical Association. He served as president of the Economic History Association and the Agricultural History Society.