B005HFI0X2 EBOK (61 page)

37.
Woodrow Wilson, “The Puritan” (December 22, 1900), in
The Papers of Woodrow Wilson
, ed. Arthur S. Link (Princeton, NJ: Princeton University Press, 1966–1994), 1:365.

38.
Woodrow Wilson, “Law or Personal Power” (address delivered before the National Democratic Club, New York, April 13, 1908), in
The Papers of Woodrow Wilson
, 2:30–31.

39.
Woodrow Wilson, “What Jefferson Would Do,” in
The Papers of Woodrow Wilson
, 2:424.

40.
Woodrow Wilson, “The Tariff and the Trusts” (February 24, 1912),
The Papers of Woodrow Wilson
, 2:410–11.

41.
Woodrow Wilson, “Acceptance Address” (Seagirt, NJ, April 7, 1912, Official Report of the Democratic National Committee), 407; quoted in Martin J. Sklar,
The Corporate Reconstruction of American Capitalism, 1890–1916: The Market, the Law, and Politics
(Cambridge, UK: Cambridge University Press, 1988), 419.

42.
Quoted in Thomas McCraw,
Prophets of Regulation: Charles Francis Adams, Louis D. Brandeis, James M. Landis, Alfred Kahn
(Cambridge, MA: Harvard University Press, 1984), 108.

43.
Brandeis,
Other People’s Money
, 4–5.

44.
Charles Francis Adams, Statement of December 15, 1884, 4
Ry & Corp.
L.J. 579 (1888); quoted in Letwin, “Congress and the Sherman Antitrust Law: 1887–1890,” 223.

45.
Ida Tarbell,
All in the Day’s Work
(New York: Macmillan, 1939), 364; quoted in Strouse,
Morgan
, 622.

46.
Brandeis,
Other People’s Money
, 51.

47.
Quoted in Ron Chernow,
Titan: The Life of John D. Rockefeller, Sr
. (New York: Random House, 1998), 541.

CHAPTER 10: THE NEW ERA

1.
Herbert Hoover,
Nation’s Business
, June 5, 1924, 7–8; quoted in Butler Shaffer,
In Restraint of Trade: The Business Campaign Against Competition, 1918–1938
(Cranbury, NJ: Associated University Presses, 1997), 52.

2.
Gary Cross and Rick Szostak,
Technology and American Society: A History
(Englewood Cliffs, NJ: Prentice-Hall, 1995), 194.

3.
Marc Allen Eisner,
From Warfare State to Welfare State: World War I, Compensatory State Building, and the Limits of the Modern Order
(University Park: Pennsylvania State University Press, 2000), 60.

4.
Ibid.

5.
Paul A. C. Koistinen,
Mobilizing for Modern War: The Political Economy of American Warfare, 1865–1919
(Lawrence: University Press of Kansas, 1997), 116.

6.
Eisner,
From Warfare State to Welfare State
, 52.

7.
Koistinen,
Mobilizing for Modern War
, 121.

8.
Jeff Frieden, “Sectoral Conflict and Foreign Economic Policy, 1914–1940,”
International Organization
42, no. 1 (Winter 1988): 71.

9.
F. Carrington Weems,
America and Munitions
:
The Works of Messrs. J. P. Morgan & Co. in the World War
(New York: Privately printed, 1923), 268; quoted in Koistinen,
Mobilizing for Modern War
, 115.

10.
Table 6.2, “The Financing of World War I, World War II, and the Korean War (Billions of Dollars),” in Michael Edelstein, “War and the American Economy in the Twentieth Century,” in
The Cambridge Economic History of the United States
, ed. Stanley L. Engermann and Robert E. Gallman (Cambridge, UK: Cambridge University Press), 3:351.

11.
Koistinen,
Mobilizing for Modern War
, 264.

12.
Ibid., 265.

13.
Eisner,
From Warfare State to Welfare State
, 55.

14.
Edmund M. Coffman,
The War to End All Wars: The American Military Experience in World War I
(Lexington: University Press of Kentucky, 1967), 15.

15.
Koistinen,
Mobilizing for Modern War
, 211.

16.
Eisner,
From Warfare State to Welfare State
, 65.

17.
Koistinen,
Mobilizing for Modern War
, 212.

18.
Eisner,
From Warfare State to Welfare State
, 73.

19.
Koistinen,
Mobilizing for Modern War
, 262.

20.
Eisner,
From Warfare State to Welfare State
, 68.

21.
“Herbert Hoover,” The White House, www.whitehouse.gov (accessed November 1, 2011).

22.
Koistinen,
Mobilizing for Modern War
, 281–85.

23.
Eisner,
From Warfare State to Welfare State
, 81.

24.
Bernard Baruch,
American Industry in the War
(New York: Prentice-Hall, 1941), 104.

25.
Koistinen,
Mobilizing for Modern War
, 279.

26.
Eric F. Goldman,
Rendezvous with Destiny: A History of Modern American Reform
(New York: Alfred A. Knopf, 1958), 307–308, quoted in Eisner,
From Warfare State to Welfare State
, 90.

27.
Daniel Yergin,
The Quest: Energy, Security, and the Remaking of the Modern World
(New York: Penguin, 2011), 675.

28.
Cross and Szostak,
Technology and American Society
, 234.

29.
Ton Korver,
The Fictitious Commodity: A Study of the U.S. Labor Market, 1880–1940
(New York: Greenwood Press, 1990), 108.

30.
Edward J. Taaffe, Howard L. Gauthier, and Morton E. O’Kelley,
Geography of Transportation
(Upper Saddle River, NJ: Prentice-Hall, 1973), 176.

31.
Cross and Szostak,
Technology and American Society
, 235.

32.
Yergin,
The Quest
, 674.

33.
Quoted in David A. Hounshell,
From the American System to Mass Production, 1800–1932: The Development of Manufacturing Technology in the United States
(Baltimore and London: Johns Hopkins University Press, 1984), 1.

34.
Henry Ford, “Mass Production,”
Encyclopaedia Britannica
(1926).

35.
Yergin,
The Quest
, 234.

36.
Ibid., 345.

37.
Thomas Parke Hughes,
American Genesis: A Century of Invention and Technological Evolution, 1870–1970
(Chicago: University of Chicago Press, 2004), 230.

38.
Bob Ortega,
In Sam We Trust: The Untold Story of Sam Walton and How Wal-Mart Is Devouring the World
(New York: Random House, 1998), 39.

39.
Peter Fearon,
The Origins and Nature of the Great Slump, 1929–1932
(London and Basingstoke, UK: Macmillan, 1979), 29.

40.
R. I. Nelson,
Merger Movements in American History, 1895–1956
(Princeton, NJ: Princeton University Press, 1959), 94.

41.
Adolf A. Berle and Gardiner C. Means,
The Modern Corporation and Private Property
(New York: Harcourt, Brace & World, 1932), 56; William Lazonick and Mary O’Sullivan, “Finance and Industrial Development, Part I: The United States and the United Kingdom,”
Financial History Review
4 (1997): 7–29.

42.
Ellis W. Hawley, “Herbert Hoover, the Commerce Secretariat, and the Vision of an ‘Associative State,’ 1921–28,”
Journal of American History
61, no. 1 (June 1974): 128.

43.
Ibid., 129.

44.
Oswald Garrison Villard, “Presidential Possibilities: Herbert C. Hoover,”
The Nation
, February 29, 1928, 235.

45.
William Edward Leuchtenberg,
Herbert Hoover
(New York: Henry Holt, 2009), 148.

46.
Ibid., 82.

47.
Herbert Hoover,
American Individualism
(New York: Doubleday, Page, 1923), 11.

48.
Herbert Clark Hoover,
The Memoirs of Herbert Hoover: The Cabinet and the Presidency, 1920–1933
(New York: Macmillan, 1952), 2:108.

49.
Hawley, “Herbert Hoover,” 132.

50.
Eugene Lyons,
Our Unknown Ex-President: A Portrait of Herbert Hoover
(Garden City, NY: Doubleday, 1948), 231.

51.
Hawley, “Herbert Hoover,” 118n7.

52.
Frederic M. Scherer, “International Competition Policy and Economic Development,” Discussion Paper no. 96–26, Zentrum für Europäische Wirtschaftsforschung, Industrial Economics and International Management Series, 9. See also Frederic M. Scherer,
Competition Policies for an Integrated World Economy
(Washington, DC: Brookings Institution, 1994).

53.
Andrew R. Dick, “When Are Cartels Stable Contracts?”
Journal of Law Economics
39, no. 1 (April 1996): 246–47.

54.
Ibid., 246.

55.
Ibid., 249.

56.
Wyatt Wells,
Antitrust and the Formation of the Postwar World
(New York: Columbia University Press, 2002), 20–21.

57.
Vernon M. Briggs,
Immigration and American Unionism
(Ithaca, NY: Cornell University Press, 2001), 97.

58.
Harry A. Millis and Royal E. Montgomery,
Labor’s Progress and Some Basic Labor Problems
(New York: McGraw-Hill, 1938), 31.

59.
Stanley Lebergott,
Manpower in Economic Growth: The American Record Since 1800
(New York: McGraw-Hill, 1964), 27.

60.
Frank Stricker, “Affluence for Whom? Another Look at Prosperity and the Working Class in the 1920s,” in
The Labor History Reader
, ed. Daniel J. Leab (Urbana and Chicago: University of Illinois, 1985), 76.

61.
William E. Leuchtenberg,
The Perils of Prosperity: 1914–1932
(Chicago and London: University of Chicago Press, 1958), 179ff.

62.
Cross and Szostak,
Technology and American Society
, 230.

63.
Ibid., 230.

64.
Gene Smiley, “The U.S. Economy in the 1920s,” Economic History Services, http://eh.net/encyclopedia/article/smiley.1920s.final (accessed November 2, 2011).

65.
Leuchtenberg,
The Perils of Prosperity
; Korver,
The Fictitious Commodity
, 96.

66.
Robert P. Keller, “Factor Income Distribution in the United States during the 1920’s: A Re-examination of Fact and Theory,”
Journal of Economic History
33, no. 1,
The Tasks of Economic History
(March 1973): 252–73.

67.
Leuchtenberg,
The Perils of Prosperity
, 193.

68.
Stricker, “Affluence for Whom?,” 296, graph 1; Korver,
The Fictitious Commodity
, 125.

69.
Charles F. Holt, “Who Benefited from the Prosperity of the Twenties?”
Explorations in Economic History
14, no. 3 (Summer 1977): 277–89.

70.
Fearon,
The Origins and Nature of the Great Slump
, 34.

71.
Table 13, “Percent Distribution of the World’s Manufacturing Production, 1913–38,” in A. G. Kenwood and A. L. Lougheed,
The Growth of the International Economy, 1820–1980
(London: Allen & Unwin, 1983), 183.

72.
James D. Richardson, ed.,
Messages and Papers of the Presidents
(Washington, DC: US Government Printing Office, 1896–99), 6403; quoted in Alfred E. Eckes Jr.,
Opening America’s Market
(Chapel Hill: University of North Carolina Press, 1995), 77–78.

73.
Congressional Record
35, pts. 3–5, 57th Cong., 1st Sess. (27 February 1902), 2201–2202.

74.
Paul Bairoch, “International Industrialization Levels, 1750–1980,”
Journal of European Economic History
11 (1982): 292, 299.

75.
Herman Schwartz, “Hegemony, International Debt, and International Economic Instability,” in Chronis Polychroniu, ed.,
Perspectives and Issues in International Political Economy
(New York: Praeger, 1992).

76.
Jeff Frieden, “Sectoral Conflict and Foreign Economic Policy, 1914–1940,”
International Organization
42, no. 1,
The State and American Foreign Policy
(Winter 1998): 63–64.

77.
Quoted in Mary Jane Maltz,
The Many Lives of Otto Kahn
(New York: Macmillan, 1963), 204; cited in Frieden, “Sectoral Conflict and Foreign Economic Policy.”

78.
Quoted in David Burner,
Herbert Hoover: A Public Life
(New York: Alfred A. Knopf, 1979), 186; cited in Frieden, “Sectoral Conflict and Foreign Economic Policy,” 80.

79.
Quoted in Dan P. Silverman,
Reconstructing Europe after the Great War
(Cambridge, MA: Harvard University Press, 1982), 239; Frieden, “Sectoral Conflict and Foreign Economic Policy, 1914–1940,” 59–90.

80.
Fred L. Israel, ed.,
The State of the Union Messages of the Presidents
(New York: Chelsea House, 1967), 3:2693; quoted in Alfred E. Eckes Jr.,
Opening America’s Market
(Chapel Hill: University of North Carolina Press, 1995), 301n56.

81.
Norman H. Davis, “Trade Barriers and Customs Duties,”
Proceedings of the Academy of Political Science
12, no. 4 (January 1928): 69–76; quoted in Jeffrey A. Frieden,
Banking on the World: The Politics of American International Finance
(New York: Harper & Row, 1987), 50.

CHAPTER 11: A NEW DEAL FOR AMERICA

1.
Franklin Delano Roosevelt, Address at the Democratic State Convention, Syracuse, New York, September 29, 1936.