B005HFI0X2 EBOK (71 page)

Sloan, Alfred P., 249, 298, 301, 367

Small Is Beautiful
(Schumacher), 379

Smith, Adam, 12, 24, 31, 38, 52, 78, 101, 103–104, 224, 461, 463

Smith, Al, 301–302

Smith, Charles G., 415

Smith-Lever Act (1914), 204

social contract

Great Depression relief programs, 281, 285–300, 304

proposals for Next American economy, 475–477

unemployment insurance, 257, 361, 454

social democracy, in Europe, 11

Socialist Party of America, 173

Social Science and National Economy
(Thompson), 147

Social Security, 296–297, 360–361, 438, 441, 475, 476

Society for Establishing Useful Manufactures (SUM), 2, 39–40

Soil Conservation and Domestic Allotment Act (1936), 346

Somervell, Brehon, 311

Sonneborn, Harry, 342

Soros, George, 388

South

alliance with Midwest, 126–127

black codes in, 175–176

incorporation into US mainstream, post–World War II, 343–344

industrial growth during World War II, 316–320

shrinking of wealth, after Civil War, 174–175

slavery and economic stagnation in, 122–125

South Carolina, 124, 130

South Improvement Company, 161

South Korea, 374–375, 377, 429, 432, 459

Soviet Union.
See also
Russia

Cold War and, 331–332, 369

manufacturing capacity after World War I, 263

space program, 205–206, 405–406

Specie Circular, 116

Spencer, Percy, 415

Sprague, Frank, 208

stagflation, 368

Staggers Act (1980), 155

stakeholder concept of corporation, 351–353

Stalin, Joseph, 261, 332

Standard/IG Company, 313

Standard Oil Company, 161, 230, 232–233, 315

Standard Oil of California, 333, 335

Standard Oil of New Jersey, 313–314, 333, 335

Standard Oil of New York, 333, 335

Stanford, Leland, 416

Stanley Steamers, 246

Starley, John K., 200

state capitalism, 432

state-owned enterprises (SOEs), in Korea, 374–375

Statue of Liberty, 168–169

Steagall, Henry B., 286

steam power.
See
First Industrial Revolution (steam power)

Steele, Osman, 62

steel industry, 162–163, 202, 217–218, 257

Steel Workers Organizing Committee (SWOC), 299

Stephens, Alexander, 140

Stephenson, George, 91

Sterling, Ross, 334

Stettinius, Edward R., 239

Stevens, Edwin Augustus, 91

Stevens, John, 91–92

Stevens, Robert Livingston, 91

Stillman, James, 232

Stimson, Henry L., 323

stimulus programs, 454–455

stock market

crash of 1929, 269–270, 271

crash of 1987, 12

evolution after World War I, 254–255

stock ownership and financial-market capitalism, 437–439, 470

Strategic Materials Act, 308

streetcars, 208–209

Strong, Benjamin, 222

student loans, 476–477

suburbanization, 208–209, 341–342, 344–345

Suffolk Bank of Massachusetts, 167

Sumner, William Graham, 223

supply-side economics

deregulation and its effects, 386–391

growth of conservativism and, 376–380

Supreme Court.
See also
specific rulings

antitrust activism, 232–233

FDR and packing of, 294

National Industrial Recovery Act and, 10

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

Sussex
, 239

Swan, Joseph, 194

Sweden, 371

Swift, Gustavus, 160

Switzerland, 371

Swope, Gerard, 259, 277, 289

Swope Plan, 277–278, 289

synthetic rubber, 312–314, 348

Szilard, Leo, 401, 402–403

Tabulating Machine Company, 407, 410

Taft, William Howard, 244

Taft-Harley Act (1947), 296, 353

Taiwan, 375, 377, 432

takeover artists, 366, 436

Taney, Roger, 115

Tarbell, Ida, 230, 314

Target, 437

tariffs

in 1920s, 266–267

Brandeis and New Freedom, 230

in Clay’s American System, 107

early twentieth century trade imbalances and, 262–267

Great Depression causes and, 271–272

Lincoln and protective, 9, 144–145

Lowell and textile manufacturing, 86

to pay for War of Independence debt, 38

in preindustrial United States, 35, 40–41, 43–46

tariff of 1870, 163

Tariff of Abominations and Nullification Crisis, 109–110

Taussig, Charles, 302

Taussig, Frank W., 146

taxes

conservative belief in benefits of cutting, 378–379, 457, 470

excise taxes, 35, 137–138, 305

financial transaction tax, proposed, 469

Hoover and Great Depression mistakes, 280

income taxes, 137–138, 230–231, 240–241, 325

redistribution of income and, 474–475

on retained earnings, 299

social insurance paid from, in Next American Economy, 475–477

tax subsidies and, 442, 475

Tea Party movement, 449

telecommunications, deregulation of, 382

telegraph industry, 93–94, 135, 159, 193

telephone industry, 250–251, 347

television, 207–208, 348

Tellier, Charles, 203

Temporary National Economic Committee (TNEC), 300

Tennessee Valley Authority (TVA), 337–338, 379–380, 404

Terman, Frederick, 416

Tesla, Nikola, 9, 192–193, 196

Texaco, 333, 335

Texas, 317–318, 334–335, 336

Texas Instruments, 318, 414

Texas Railroad Commission (TRC), 334, 381

textile manufacturing, 86–87, 120, 126–127

Thailand, 429

Thatcher, Margaret, 11, 386–387

Third American Republic, 5–6, 10–12, 336, 481

Third Industrial Revolution (information age), 270, 393–394, 453–454

banks and financial-market capitalism, 434–440

computer evolution, 407–409

globalization and current-account deficits, 423–434

Great Compression of incomes, 440–441

information technology, 399–400, 407–421

jet engines, 404–405

maldistribution of income and financial crisis, 441–450

nuclear power, 397–398, 402–404

space programs, 405–406

Thompson, Robert Ellis, 147

Thomson-Houston Company, 196, 197

Thornton, William, 97

Thurow, Lester, 359

Timber and Stone Act, 178

Timber Culture Act (1873), 178

Time
, 399

time capsules, 395–396

Times
(London), 133

time zones, railroads and, 163

tires, 201–202

Tizard, Henry, 403

Tobin tax, 469

Todd, Lyman Beecher, 140

Tomkins Square Riot, 165

Tom Thumb
, 93

Tousard, Louis de, 96

township and village enterprises (TVEs), in China, 431

trade.
See also
current-account deficits

Foreign Trade Zone 49 and government-private cooperation, 452–453

NIRA and, 295

trade associations during World War I, 245–246

Trade Boards Act of 1909 (England), 290

transatlantic telegraph cable, 94

transcontinental railroad, 143–144, 151–153

Transportation Act (1920), 154

Travelers Insurance, 386

Treatise on Electricity and Magnetism
(Maxwell), 190

Treaty of the Six Nations, 159

Treaty of Wang Hiya, 65

Trevithick, Richard, 91

Trollope, Frances, 54

Troubled Assets Relief Program (TARP), 447

trucking, deregulation of, 382

Truman, Harry S., 239, 314, 332, 336, 346, 369, 402

Tugwell, Rexford, 279–280, 299, 302

Turbinia
(ship), 199

Turkey, 369

Turner, Frederick Jackson, 178

Twain, Mark (Samuel Langhorne Clemens), 210, 233

Tweed, William “Boss,” 158

typewriters, 210

Underwood Tariff Act (1913), 230

unemployment

Cold War and trade concessions to allies, 369

in Great Depression, 270, 281, 308

in Great Recession, 448–449

unemployment insurance, 257, 361, 454

in Volcker recession, 386–388

in World War II, 320

Union Pacific Railroad, 74, 143, 151–153, 155–156, 158

unit banks, 116–167, 218–221, 229, 231, 254, 286

United Auto Workers (UAW), 299, 353

United Farm Workers, 358

United Mine Workers, 321

United States Steel Corporation, 161

United States v. Butler
, 346

United States v. Darby
, 294

United Steel, 217

UNIVAC, 413

Untermyer, Samuel, 231

UPS, 437

urban areas, nineteenth century changes in, 208–211

US Agency for International Development (USAID), 374

US Rubber, 349

USS
Merrimack
, 137

USS
Monitor
, 137

US Steel, 216, 220, 226, 233, 299, 327

utilities, deregulation of, 364–365, 384–385

Vail, Alfred, 94

value-added tax (VAT), 476

Van Buren, Martin, 109, 111, 113, 116

Van Depoele, Charles, 208

Vanderbilt, Cornelius, 89–90, 157–158

Vanderbilt, William, 154

Vanderbilt, William H., 220

Vanderlip, Frank A., 222–223, 243

Van Deusen, James, 61

Vanity Fair
, 77–78

Van Rensselaer, Martha Schuyler, 61

Van Rensselaer, Stephen III, 49, 60–61, 62

Van Rensselaer, Stephen IV, 62

Van Rensselaer, William, 62

Veblen, Thorstein, 350, 351

venture capital, 418

Verein fur Sozialwissenschaft
, 147

Virginia

canals and, 55

infrastructure in, 121

War of Independence debts and, 29, 33–34

Washington and, 40, 87–89

Volcker, Paul, 386–387

Volta, Alessandro, 190

Volunteers in Service to America (VISTA), 359

von Mises, Ludwig, 288–289

Voting Rights Act (1965), 357

Wachovia Bank, 67–68

Wadsworth, Decius, 96

wages.
See also
maldistribution of income

economic growth after World War I and, 256–257

Great Depression and, 278–279, 290–291

NIRA and minimum, 295

Wagner, Herbert, 405

Wagner, Robert, 288

Wagner Act, 295–296

Wallace, Henry, 284

Wall Street Journal
, 378

Walmart, 425–426, 437

Walpole, Robert, 33

Walsh, Frank P., 244

Walter, Rosalind Palmer, 322

Walton, Sam and Bud, 425

Wanniski, Jude, 271

War Assets Administration, 348

Warburg, Paul M., 222

Wardman, Ervin, 164

War Emergency Pipelines, Inc., 316

War Finance Corporation, 243, 245, 361

War Industries Board (WIB), 241–243, 245, 277, 288, 289

War of 1812, 43, 47, 61, 70–71, 106

War of Independence

financing and debts of, 26–30

origins of, 22, 26

War on Poverty, 358–359

War Production Board, 310, 311

Warren, Thomas, 97

War Resources Board, 308

Washington, DC, compromises on locating US capital, 34

Washington, George, 2, 203, 481–482

Articles of Confederation, 30

Hamilton and manufacturing, 31, 40

on military preparedness, 464

slavery and, 57–60

tariffs and, 35

Washington, Martha, 59–60

Washington Mutual, 427, 434

Watson, Thomas Jr., 413–414

Watson, Thomas Sr., 408–413

Watt, James, 6, 79, 81, 84, 191

Wayland, Francis, 104

“Wealth” (Carnegie), 13

Wealth of Nations, The
(Smith), 24, 52, 103–104

Webb-Pomerene Act (1918), 258

Webster, Daniel, 114, 127, 201

Weed Sewing Machine Company, 97

Welch, Jack, 436

welfare capitalism, 86, 260–261, 318, 441–442

welfare programs, success of, 359

welfare statism, 442

Wells, David Ames, 214–215

West, and closing of frontier, 177–178

Western Union, 159, 193

West Germany, 331–332, 428–429

Westinghouse, George, 196–197

Westinghouse Corporation, 196–199, 207, 246, 395–396, 404

whaling industry, 76–78

Wharton, Joseph, 146–147

Wharton School of Finance and Economy, 147

Wheatstone, Charles, 190

Whitney, Asa, 155

Whitney, Eli, 96, 123

Whitney, Henry, 209

Whittle, Frank, 404–405

Wiener, Norbert, 408

Wigfall, Louis T., 133

Wilbur, Ray Lyman, 257

Wilcocks, Benjamin Chew, 64

Wilkinson, Lewis, 97

William II, Kaiser, 237

Williams, Lee G., 358

Willing, Charles, 26

Willing, Thomas, 26–27, 29

Wilson, Charles Erwin “Engine Charlie,” 351, 367, 426

Wilson, Woodrow, 10, 182, 206, 222

Fourteen Points, 239

money trust and, 231

New Freedom and, 228–229

World War I and, 235, 238–239, 240, 241, 244

Wingner, Eugene, 402–403

Wither Bound?
(F. Roosevelt), 401–402

women, in World War II workforce, 322–323

Wood, Fernando, 127

Woodward, Henry, 194

Woolens Act, 24

Woolworth, Frank W., 253

Works Financing (“Spend-Lend”) Bill, 302, 303

Works Projects Administration, 284, 304

World Bank, 368

World War I, 235–255

aviation and, 205

debt repayment, 264, 276–277

financing of, 239–241

industrial and retail growth after, 246–255

New Deal agencies and, 289

origins of, 236–239

private-government cooperation and, 241–246