November 3, 2014 / by admin / American History / No Comments

Land of Promise: An Economic History of the United States

Land of Promise: An Economic History of the United States

Michael Lind

Language: English

Pages: 592

ISBN: 0061834815

Format: PDF / Kindle (mobi) / ePub


A sweeping and original work of economic history by Michael Lind, one of America’s leading intellectuals, Land of Promise recounts the epic story of America’s rise to become the world’s dominant economy. As ideological free marketers continue to square off against Keynesians in Congress and the press, economic policy remains at the center of political debate.

Land of Promise: An Economic History of the United States offers a much-needed historical framework that sheds new light on our past—wisdom that offers lessons essential to our future. Building upon the strength and lucidity of his New York Times Notable Books The Next American Nation and Hamilton’s Republic, Lind delivers a necessary and revelatory examination of the roots of American prosperity—insight that will prove invaluable to anyone interested in exploring how we can move forward.

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and the Lightning THE MOTOR AGE Chapter 8: Franklin’s Baby: Electricity, Automobiles, and the Second Industrial Revolution Chapter 9: The Day of Combination Chapter 10: The New Era Chapter 11: A New Deal for America Chapter 12: Arsenal of Democracy Chapter 13: The Glorious Thirty Years Chapter 14: The Great Dismantling THE INFORMATION AGE Chapter 15: As We May Think: The Third Industrial Revolution Chapter 16: The Bubble Economy Chapter 17: The Next American

Corcoran Papers, box 589, Library of Congress; quoted in Janeway, The Fall of the House of Roosevelt, 5. See also Schlesinger, The Age of Roosevelt, vol. 3, The Politics of Upheaval, 280. 64. Amity Shlaes, The Forgotten Man: A New History of the Great Depression (New York: HarperCollins, 2007). 65. “Arch Foes of NRA Vote for New Deal; All 16 Ballots in the Schechter Family Went to President Poultry Man Reveals,” New York Times, November 4, 1936; quoted in Eric Rauchway, “Big Gonif, Redux,”

Ibid., 207. 14. Richard A. Leyes II and William A. Fleming, The History of North American Small Gas Turbine Aircraft Engines (Washington, DC: Smithsonian Institution, 1999), 236–37. 15. John E. Steiner, “Jet Aviation Development: A Company Perspective,” in The Jet Age: Forty Years of Jet Aviation, ed. Walter J. Boyne and Donald S. Lopez (Washington, DC: National Air and Space Museum/Smithsonian, 1979), 142; Peter J. Hugill, Global Communications Since 1844 (Baltimore: Johns Hopkins University

Atlantic, 398, 399 Atlas Shrugged (Rand), 156 atomic bomb, 396–397, 402–404 Atomic Energy Commission (AEC), 339 Augusta Powder Works, 134 Australia, 146, 432 banking system in, 166–167 economic growth of, 371 immigration and, 479–480 wages in, 290 World War I, 240 Austria, 270, 371 automobiles demographic changes post–World War II and, 342 development of early, 200, 246–249 aviation industry deregulation of, 382, 383 government support of, 204–206, 257 World War II, 318

This allowed the United States to make a million tons of rubber a year during World War II, even after Japan had conquered Southeast Asia. Although steel was superior to wrought iron, in premodern times its cost limited its use to valuable implements like swords and plowshares. In 1856, Henry Bessemer discovered a method to make steel cheap. The Bessemer converter, followed by other innovations, radically reduced the cost of steel, benefiting existing industries like railroads and making

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