Freaks of Fortune

Freaks of Fortune
Author: Jonathan Levy
Publisher: Harvard University Press
Total Pages: 425
Release: 2012-10-29
Genre: Business & Economics
ISBN: 0674067207

Until the early nineteenth century, "risk" was a specialized term: it was the commodity exchanged in a marine insurance contract. Freaks of Fortune tells the story of how the modern concept of risk emerged in the United States. Born on the high seas, risk migrated inland and became essential to the financial management of an inherently uncertain capitalist future. Focusing on the hopes and anxieties of ordinary people, Jonathan Levy shows how risk developed through the extraordinary growth of new financial institutions-insurance corporations, savings banks, mortgage-backed securities markets, commodities futures markets, and securities markets-while posing inescapable moral questions. For at the heart of risk's rise was a new vision of freedom. To be a free individual, whether an emancipated slave, a plains farmer, or a Wall Street financier, was to take, assume, and manage one's own personal risk. Yet this often meant offloading that same risk onto a series of new financial institutions, which together have only recently acquired the name "financial services industry." Levy traces the fate of a new vision of personal freedom, as it unfolded in the new economic reality created by the American financial system. Amid the nineteenth-century's waning faith in God's providence, Americans increasingly confronted unanticipated challenges to their independence and security in the boom and bust chance-world of capitalism. Freaks of Fortuneis one of the first books to excavate the historical origins of our own financialized times and risk-defined lives.

Ages of American Capitalism

Ages of American Capitalism
Author: Jonathan Levy
Publisher: Random House Trade Paperbacks
Total Pages: 945
Release: 2022-04-05
Genre: Business & Economics
ISBN: 0812985184

A leading economic historian traces the evolution of American capitalism from the colonial era to the present—and argues that we’ve reached a turning point that will define the era ahead. “A monumental achievement, sure to become a classic.”—Zachary D. Carter, author of The Price of Peace In this ambitious single-volume history of the United States, economic historian Jonathan Levy reveals how capitalism in America has evolved through four distinct ages and how the country’s economic evolution is inseparable from the nature of American life itself. The Age of Commerce spans the colonial era through the outbreak of the Civil War, and the Age of Capital traces the lasting impact of the industrial revolution. The volatility of the Age of Capital ultimately led to the Great Depression, which sparked the Age of Control, during which the government took on a more active role in the economy, and finally, in the Age of Chaos, deregulation and the growth of the finance industry created a booming economy for some but also striking inequalities and a lack of oversight that led directly to the crash of 2008. In Ages of American Capitalism, Levy proves that capitalism in the United States has never been just one thing. Instead, it has morphed through the country’s history—and it’s likely changing again right now. “A stunning accomplishment . . . an indispensable guide to understanding American history—and what’s happening in today’s economy.”—Christian Science Monitor “The best one-volume history of American capitalism.”—Sven Beckert, author of Empire of Cotton

Fortune Tellers

Fortune Tellers
Author: Walter A Friedman
Publisher: Princeton University Press
Total Pages: 288
Release: 2013-12-01
Genre: Business & Economics
ISBN: 0691159114

A gripping history of the pioneers who sought to use science to predict financial markets The period leading up to the Great Depression witnessed the rise of the economic forecasters, pioneers who sought to use the tools of science to predict the future, with the aim of profiting from their forecasts. This book chronicles the lives and careers of the men who defined this first wave of economic fortune tellers, men such as Roger Babson, Irving Fisher, John Moody, C. J. Bullock, and Warren Persons. They competed to sell their distinctive methods of prediction to investors and businesses, and thrived in the boom years that followed World War I. Yet, almost to a man, they failed to predict the devastating crash of 1929. Walter Friedman paints vivid portraits of entrepreneurs who shared a belief that the rational world of numbers and reason could tame--or at least foresee--the irrational gyrations of the market. Despite their failures, this first generation of economic forecasters helped to make the prediction of economic trends a central economic activity, and shed light on the mechanics of financial markets by providing a range of statistics and information about individual firms. They also raised questions that are still relevant today. What is science and what is merely guesswork in forecasting? What motivates people to buy forecasts? Does the act of forecasting set in motion unforeseen events that can counteract the forecast made? Masterful and compelling, Fortune Tellers highlights the risk and uncertainty that are inherent to capitalism itself.

Freak Show

Freak Show
Author: Robert Bogdan
Publisher: University of Chicago Press
Total Pages: 338
Release: 2014-12-10
Genre: Performing Arts
ISBN: 022622743X

This cultural history of the travelling freak show in America chronicles the rise and fall of the industry as attitudes about disability evolved. From 1840 until 1940, hundreds of freak shows crisscrossed the United States, from the smallest towns to the largest cities, exhibiting their casts of dwarfs, giants, Siamese twins, bearded ladies, savages, snake charmers, fire eaters, and other oddities. By today’s standards such displays would be considered cruel and exploitative—the pornography of disability. Yet for one hundred years the freak show was widely accepted as one of America’s most popular forms of entertainment. Robert Bogdan’s fascinating social history brings to life the world of the freak show and explores the culture that nurtured and, later, abandoned it. In uncovering this neglected chapter of show business, he describes in detail the flimflam artistry behind the shows, the promoters and the audiences, and the gradual evolution of public opinion from awe to embarrassment. Freaks were not born, Bogdan reveals; they were manufactured by the amusement world, usually with the active participation of the freaks themselves. Many of the "human curiosities" found fame and fortune, until the ascent of professional medicine transformed them from marvels into pathological specimens.

Brahmin Capitalism

Brahmin Capitalism
Author: Noam Maggor
Publisher: Harvard University Press
Total Pages: 299
Release: 2017-02-20
Genre: History
ISBN: 0674971469

Tracking the movement of finance capital toward far-flung investment frontiers, Noam Maggor reconceives the emergence of modern capitalism in the United States. Brahmin Capitalism reveals the decisive role of established wealth in the transformation of the American economy in the decades after the Civil War, leading the way to the nationally integrated corporate capitalism of the twentieth century. Maggor’s provocative history of the Gilded Age explores how the moneyed elite in Boston—the quintessential East Coast establishment—leveraged their wealth to forge transcontinental networks of commodities, labor, and transportation. With the decline of cotton-based textile manufacturing in New England and the abolition of slavery, these gentleman bankers traveled far and wide in search of new business opportunities and found them in the mines, railroads, and industries of the Great West. Their investments spawned new political and social conflict, in both the urbanizing East and the expanding West. In contests that had lasting implications for wealth, government, and inequality, financial power collided with more democratic visions of economic progress. Rather than being driven inexorably by technologies like the railroad and telegraph, the new capitalist geography was a grand and highly contentious undertaking, Maggor shows, one that proved pivotal for the rise of the United States as the world’s leading industrial nation.

Street Freak

Street Freak
Author: Jared Dillian
Publisher: Simon and Schuster
Total Pages: 368
Release: 2012-09-11
Genre: Biography & Autobiography
ISBN: 1439181276

Erroneously states "1st Touchstone hardcover edition" in paperback copy.

A Nation of Counterfeiters

A Nation of Counterfeiters
Author: Stephen Mihm
Publisher: Harvard University Press
Total Pages: 470
Release: 2009-06-30
Genre: History
ISBN: 0674041011

Prior to the Civil War, the United States did not have a single, national currency. Counterfeiters flourished amid this anarchy, putting vast quantities of bogus bills into circulation. Their success, Mihm reveals, is more than an entertaining tale of criminal enterprise: it is the story of the rise of a country defined by freewheeling capitalism and little government control. Mihm shows how eventually the older monetary system was dismantled, along with the counterfeit economy it sustained.

Freak Out

Freak Out
Author: Pauline Butcher
Publisher: Plexus Publishing
Total Pages: 551
Release: 2023-09-11
Genre: Biography & Autobiography
ISBN: 0859657159

This new, completely revised and updated edition contains a wealth of new material, excerpts from the author's diaries and private letters home about life in Hollywood. In 1967, 21-year-old Pauline Butcher was working for a London secretarial agency when a call came through from a Mr Frank Zappa asking for a typist.The assignment would change her life forever. For three years, Pauline served as Zappa's PA, moving with him, his family and the Mothers of Invention, to a log cabin in Laurel Canyon in the Hollywood Hills, where the 'straight' young English girl mixed with Oscar winners and rock royalty. Freak Out! is the captivating story of a naive young English girl thrust into the mad world of a musical legend as well as the most intimate portrait of Frank Zappa ever written.

The Pricing of Progress

The Pricing of Progress
Author: Eli Cook
Publisher: Harvard University Press
Total Pages: 365
Release: 2017-09-25
Genre: History
ISBN: 0674982541

How did Americans come to quantify their society’s progress and well-being in units of money? In today’s GDP-run world, prices are the standard measure of not only our goods and commodities but our environment, our communities, our nation, even our self-worth. The Pricing of Progress traces the long history of how and why we moderns adopted the monetizing values and valuations of capitalism as an indicator of human prosperity while losing sight of earlier social and moral metrics that did not put a price on everyday life. Eli Cook roots the rise of economic indicators in the emergence of modern capitalism and the contested history of English enclosure, Caribbean slavery, American industrialization, economic thought, and corporate power. He explores how the maximization of market production became the chief objective of American economic and social policy. We see how distinctly capitalist quantification techniques used to manage or invest in railroad corporations, textile factories, real estate holdings, or cotton plantations escaped the confines of the business world and seeped into every nook and cranny of society. As economic elites quantified the nation as a for-profit, capitalized investment, the progress of its inhabitants, free or enslaved, came to be valued according to their moneymaking abilities. Today as in the nineteenth century, political struggles rage over who gets to determine the statistical yardsticks used to gauge the “health” of our economy and nation. The Pricing of Progress helps us grasp the limits and dangers of entrusting economic indicators to measure social welfare and moral goals.