Since the 1960s, scholars and other commentators have frequently announced the imminent decline of American financial power: excessive speculation and debt are believed to have undermined the long-term basis of a stable US-led financial order. But the American financial system has repeatedly shown itself to be more resilient than such assessments suggest. This book argues that there is considerable coherence to American finance: far from being a house of cards, it is a proper edifice, built on institutional foundations with points of both strength and weakness. The book examines these foundations through a historical account of their construction: it shows how institutional transformations in the late nineteenth century created a distinctive infrastructure of financial relations and proceeds to trace the contradiction-ridden expansion of this system during the twentieth century as well as its institutional consolidation during the neoliberal era. It concludes with a discussion of the forces of instability that hit at the start of the twenty-first century.

How Wall Street concocted a more volatile and dangerous capitalism The Fall and Rise of American Finance traces the collapse and reconstitution of American financial power from the disintegration of robber baron J. P. Morgan’s vast empire to the rise of finance behemoth BlackRock. Contrary to what is taken for common sense by figures from Hillary Clinton to Bernie Sanders, Maher and Aquanno insist that financialization did not imply the hollowing out of the “real” economy or the retreat of the state. Rather, it served to intensify competitive discipline to maximize efficiency, profits, and the exploitation of labor—with the support of an increasingly authoritarian state.

Alexander Hamilton is commonly seen as the standard-bearer of an ideology-turned-political party, the Federalists, engaged in a struggle for the soul of the young United States against the Anti-Federalists, and later, the Jeffersonian Republicans. Alexander Hamilton and the Development of American Law counters such conventional wisdom with a new, more nuanced view of Hamilton as a true federalist, rather than a one-dimensional nationalist, whose most important influence on the American founding is his legal legacy. In this analytical biography, Kate Elizabeth Brown recasts our understanding of Hamilton's political career, his policy achievements, and his significant role in the American founding by considering him first and foremost as a preeminent lawyer who applied law and legal arguments to accomplish his statecraft. In particular, Brown shows how Hamilton used inherited English legal principles to accomplish his policy goals, and how state and federal jurists adapted these Hamiltonian principles into a distinct, republican jurisprudence throughout the nineteenth century. When writing his authoritative commentary on the nature of federal constitutional power in The Federalist, Hamilton juxtaposed the British constitution with the new American one he helped to create; when proposing commercial, monetary, banking, administrative, or foreign policy in Washington's cabinet, he used legal arguments to justify his desired course of action. In short, lawyering, legal innovation, and common law permeated Alexander Hamilton's professional career. Re-examining Hamilton's post-war accomplishments through the lens of law, Brown demonstrates that Hamilton's much-studied political career, as well as his contributions to republican political science, cannot be fully understood without recognizing and investigating how Hamilton used Anglo-American legal principles to achieve these ends. A critical re-evaluation of Hamilton's legacy, as well as his place in the founding era, Brown’s work also enhances and refines our understanding of the nature and history of American jurisprudence.

The Fall and Rise of American Finance traces the collapse and reconstitution of American financial power from the disintegration of robber baron J. P. Morgan's vast empire to the rise of finance behemoth BlackRock. Contrary to what is taken for common sense by figures from Hillary Clinton to Bernie Sanders, Maher and Aquanno insist that financialization did not imply the hollowing out of the "real" economy or the retreat of the state. Rather, it served to intensify competitive discipline to maximize efficiency, profits, and the exploitation of labor-with the support of an increasingly authoritarian state.

This work contains primary research texts regarding two centuries of the development of corporate finance in the US and Great Britain. It is designed to help scholars, financial managers, and public policymakers to investigate the historical background of issues in contemporary corporate finance.

In a lively critique of how international and comparative political economy misjudge the relationship between global markets and states, this book demonstrates the central place of the American state in today's world of globalized finance. The contributors set aside traditional emphases on military intervention, looking instead to economics.

"Focuses on networks of people, information, conveyances, and other resources and technologies that moved slave-based products from suppliers to buyers and users." (page 3) The book examines the credit and financial systems that grew up around trade in slaves and products made by slaves.