B005HFI0X2 EBOK (70 page)

global rebalancing of America’s role needed, 456–461

Great Recession and irrational fears about deficits, 454–456

infrastructure policy proposed, 466–467

innovation policy proposed, 461–463

maldistribution of income and wealth, 469–471

manufacturing policy proposed, 463–465

middle class rebuilding strategies, 471–475

social contract in, 475–477

Niles, Hezekiah, 104, 125

Nimitz, Chester, 328

Nixon, Richard, 10, 375–376, 380, 381, 457

NLS (oNLine system), 419

Nobel, Alfred, 202

Norris, George, 338

North, Simeon, 96, 97

North American Aviation, 321

North Atlantic Treaty Organization (NATO), 332

North Carolina National Bank, 434

Northeast, modernization of, before Civil War, 119–120, 122

Northern Pacific Railroad, 152, 165, 232

Northern Securities Corporation, 227, 232

Northwest Ordinances, 120

Norway, 371

nostalgic historical preservation, deindustrialization and, 4

Notes on the State of Virginia
(Jefferson), 44

Noyce, Robert, 414

nuclear power plants, 339

Nullification Crisis, 109–110

Nusbaum, Aaron, 164

Nye, Gerald P., 240

Obama, Barack, 448–449

Occupy Wall Street movement, 449

Oersted, Hans Christian, 190

Office of Price Administration (OPA), 326

Office of Scientific Research and Development (OSRD), 396, 401, 403

Office of War Mobilization, 310

O-Grab-Me embargo, 43, 69

Ohain, Hans von, 404–405

Ohio-Steamboat Navigation Company, 88

Ohio Telegraph Company, 162

oil industry, 160–161, 200–201

imports and US trade deficit, 430–431

oil glut of 1980s, 388

pipelines and, 316

price of oil in 1970s, 381

waste and regulation of, post–World War II, 333–336

Oklahoma, 178

Oldham, W. S., 131

oligopolies

in twenty-first century, 427, 437

after World War II, 347–349

Olney, Richard, 173

Omaha Platform, 179

opium trade, 64–66, 100

Oppenheimer, J. Robert, 397, 404

Organization of Petroleum Exporting Countries (OPEC), 336, 381, 433–434

Oruktor Amphibolos, 91

OTC derivatives, 436

Other People’s Money: And How the Bankers Use It
(Brandeis), 232

Otis, Elisha Graves, 209

Otis Elevator, 209, 217

Otto, Nikolaus August, 199

Otto engine, 199

Ottoman Empire, 100

Outcault, Richard and Felton, 164

Pacific Fur Company, 72

Pacific Railroad Act, 151–152, 155

Pacific Telegraph Act (1860), 159

Packard, David, 416

Page, Larry, 420

Pahlavi, Muhammad Reza Shah, 335

Panama Canal, 238

Panic of 1792, 41–42

Panic of 1837, 116, 118, 167

Panic of 1893, 166, 173, 221–222

Panic of 1907, 222

Parish, David, 70–72

Park Chung-hee, 374

Parkinson, George, 39

Parris, Hugh G., 379

Parsonage, Edward E., 242

Parsons, Charles, 198

Parsons, William, 198

Paterson, New Jersey, 1–4, 40, 451–452

Paterson, William, 2

Patient Protection and Affordable Care Act (2010), 449

Patman, Wright, 253

Patten, Simon, 147

Patterson, John H., 410

Paulson, Henry, 447

Pax Americana

in Cold War, 331–333, 368–376, 456–457

moving beyond, in Next American economy, 456–461

Peabody, George, 219

peak associations, 296

Peek, George Nelson, 289

penicillin, 315

Pennsylvania

canals and, 55

coal in, 94–95

infrastructure in, 121

labor violence and, 173

oil and, 77–78, 161, 200

protectionism and, 104–105, 145, 146–147, 149

whiskey tax and, 35

Pennsylvania, University of, 147

Pennsylvania Railroad, 162

Pennsylvania Society for the Encouragement of Manufactures and the Useful Arts, 39

Pension Benefit Guarantee Corporation, 441

People’s Party, 179

Perfect Merchant, The
(Savary), 32

Perkin-Elmer, 414

Perkins, Frances, 288, 297

Perkins, Thomas Handasyd, 64

Perkins, Tom, 418

Pershing, John J., 310

Persia, 100

personal computers, 416–417, 427

Peterson, Pete, 376

Pettis, Spencer, 117

Phoebus cartel, 259

Pidgeon, Walter, 322

Pinchot, Gifford, 336

pipelines, 316

Plankton, Armour & Co., 160

plastics, 203

Plaza Accord, 389, 429

plutonomies, 443

political economy, Hamilton’s study of, 31–33

Pope Manufacturing Company, 97

Populism, 179

Porter, Cole, 288

POSCO, 374

Postlethwayt, Malachy, 31–32, 33

Potomac Company, 58–59

Powderly, Terence, 172

Powers, James, 407

Pratt and Whitney, 427

preindustrial economy, 19

canals and, 53–57

characteristics of, 49–52

early financial systems and federal assumption of state war debts, 26–37

England’s mercantilism and, 21–26

Hudson River valley landowners and tenants, 60–62

merchants and traders, 62–78

slavery and, 57–60

state-sponsored economic development and protective tariffs, 37–47

price-fixing, “ruinous competition” and, 215–216

Priestly, Joseph, 189, 190

Principles of Political Economy
(Carey), 105

producerism, of Jefferson, 14–15.
See also
New Freedom

Bryan and, 182

Hamilton’s developmental economics contrasted, 15–17

productivity growth, innovation and, 461–463

Progress and Poverty
(George), 179

progressivism, 182, 223–225.
See also
New Freedom; New Nationalism

Promise of American Life, The
(Croly), 225

protectionism.
See
tariffs

Public Credit Act of 1869, 148

public employment, proposal for Next American Economy, 474

public purpose banks, 467–469

Public Utility Holding Company Act (1935), 337, 346

Public Works Administration (PWA), 288

publishing industry, 164

Pujo, Arsène, 231

Pujo Committee, 231–232

Pulitzer, Joseph, 158, 164

Pullman Company, 220

Pullman Palace Car Company, 173

Pulteney Associates, 29

Purnell Act (1925), 204

Putnam’s Magazine
, 98

racism.
See
civil rights era; Latinos; slavery

radio, 206–207, 257

Radio Corporation of America (RCA), 207–208

Railroad Administration, 243

railroads, 8–9, 82

agricultural sector and, 178–179

consolidation in late nineteenth century, 217–218

corruption and speculation and, 155–158

deregulation of, 382

financial difficulties of early, 153–155

labor violence and, 172–173

late nineteenth century assets, 214

Lincoln and, 143–144

“Morganization” and, 220–221

nationwide strike, 1877, 165–166

oil and, 161

retail businesses and, 163–164

role in Civil War, 135

telegraph and, 159

transcontinental, 143–144, 151–153

Rand, Ayn, 156

Rand, James, 413

Randolph, A. Philip, 323–324

Randolph, Edmund, 36, 40

rationing, during World War II, 326

Ratzel, Friedrich, 125

Rayburn, Sam, 284, 334

Raymond, Daniel, 104

Raytheon, 414–415

Reagan, Ronald, 182, 317, 376, 457

deregulation and, 387–388

New Deal and, 304

supply-side economics and, 11, 378, 390

War on Poverty and, 358–359

Realpolitik, 375–376, 457

Reciprocal Trade Agreements Act (RTAP), 368

Reconstruction Finance Corporation (RFC), 277, 279, 284, 289, 308–309, 311, 316, 355, 380, 467

Reed, Dr. Walter, 238

Regulation Q, 355, 385

Relation of the State to Industrial Action
(Carter), 225

relief programs.
See
social contract

Remington, Philo, 210

Remington Rand, 407–408, 413

Rensselaer Polytechnic Institute, 61

Report on Manufactures (Hamilton), 2, 31, 37–39, 40, 104

research and development

government support of innovation, 203–208, 398

proposed federal R&D bank, 462–463

during World War II, 315

after World War II, 349

Resselaerwyck, 60, 62

retail sector, growth after World War I, 252–253

Reuther, Walter, 353

Revenue Act (1932), 280

Reverse Plaza Accord, 429

Reynolds Metal Company, 312

Rhode Island, 27, 29

Ricardo, David, 78–79, 224

Richardson, Sid, 316

Richberg, Donald, 288

Riegle-Neal Act, 386

rifles, Civil War improvements and, 136

Robinson, Joan, 378

Robinson-Patman Act, 253

Rockefeller, Frank, 160

Rockefeller, John D., 160–161, 214, 222

Rockwell, Norman, 322

Roebuck, Alvah Curtis, 164

Rolls-Royce, 427

Romer, Christine, 448

Roosevelt, Franklin Delano, 28, 65, 178, 239, 379, 482

court-packing and, 294

gold standard and, 376

Great Depression and, 270, 275, 337, 338, 341

Hoover’s associationalism and, 257, 258

labor standards and, 343

labor unions and, 297–299

Manhattan Project and, 403–404

New Deal and, 10, 285, 288, 289, 290, 294, 297, 305, 361

progressivism and, 224, 305

on progress of steam age, 184–185

radio and, 207

V. Bush and, 401–402

World War II, 307–308, 314, 315, 320, 322

Roosevelt, Nicholas, 88

Roosevelt, Theodore

on Bryan, 182

conservation and, 379

corollary to Monroe Doctrine, 237–238

Morgan and financial panic, 222

New Nationalism and, 9–10, 225, 226–227

trade and, 146, 263

Rosenwald, Julius, 164

Rosie the Riveter, 321–322

Royal Dutch Shell, 333, 335

rubber, 201–202

synthetic, 312–314, 348

“ruinous competition,” price-fixing and, 215–216

Rumsey, James, 57

Rural Electrification Administration (REA), 337

Rush, William, 66

Russia, 146, 205, 240, 429.
See also
Soviet Union

Rutter, Brad, 409

Sachs, Alexander, 403

Saint Lawrence Seaway, 276, 315–316

Salomon, Haym, 27–28

Samuelson, Paul, 357, 378

Sandalwood trade, 75

Sarnoff, David, 207

satellites, 405–406, 420

Saudi Arabia, 335, 381

Saunders, Clarence, 252

Savary, Philemon-Louis, 32

Savary des Bruslons, Jacques, 32–33

savings and loans (S&Ls), 355, 363, 385

Sawyer, William, 195

Scammon, Charles Melville, 77

Scarborough, William, 124

Schechter, Joe, 294–295

Schechter
opinion, 293–295, 361

Schelp, Helmut, 405

Schmidt, Eric, 420

Schumacher, E. F., 379

Schumpeter, Joseph, 5, 79, 224

Schuyler, Henry, 61

Schuyler, Philip, 53

Schwab, Charles M., 163, 243

Science, the Endless Frontier
(V. Bush), 398, 402

Scioto scandal, 41

Scott, H. Lee, 426

Scott, Tom, 162

Sears, Richard Warren, 163–164

Sears, Roebuck, 163–164, 253, 340, 425

Sears Holdings, 437

Seattle Computer Products, 417

Second American Republic, 5–6, 8–10, 150, 481

Second Industrial Revolution (Motor Age), 187, 397, 453–454

corporate mergers and antitrust issues, 213–233

economic growth and global trade imbalances, 255–267

Great Depression, 269–283

innovations and their effects on US, 189–211

New Deal and, 10, 11, 283–306

New Deal’s dismantling, 363–391

post–World War II expansion, demographic changes, and government regulation, 329–362

World War I, 235–255

World War II, 307–328

Securities and Exchange Commission (SEC), 289, 337, 347, 349, 435

securitization, of mortgage loans, 444–446

Semi-Automatic Business Research Environment (SABRE), 413

Semi-Automatic Ground Environment (SAGE), 412–413

Seneca Chief
, 53, 54

Seton, William, 41

shadow banking system, 436

Shannon, Claude, 407–408

sharecropping, in post–Civil War South, 175–176

Shasta Dam, 338

Shays, Daniel, 30

Sherman, William Tecumseh, 135

Sherman Antitrust Act (1890), 16, 173, 215, 226–227, 232, 300

Sherwood, Robert, 305

shipbuilding, in World War II, 327–328

Shipping Board, 243

Shlaes, Amity, 294

Shockley, William, 414, 416

Sholes, Christopher Latham, 210

Shukert, Johann, 194

Siam, 100

Siemens, Werner, 190

Simons, Henry, 279

Singapore, 375, 377, 432

Singer, Isaac Merritt, 97

Singh, Narendra, 443

Six Percent Club, 41

Sixteenth Amendment, to US Constitution, 138, 231

skyscrapers, 209–210

Slater, Samuel, 85, 86

slavery

banned in Midwest, 121

economic stagnation in South and, 122–125

financial cost of abolition of, 139

Girard and, 67–68

slave owners exempt from CSA draft, 134

steam navigation’s impact on, 89

Tariff of Abominations and Nullification Crisis, 110

Washington and Jefferson and, 57–60