Forim@ge Books > Economic History > A House Dividing: Economic Development in Pennsylvania and by John Majewski

A House Dividing: Economic Development in Pennsylvania and by John Majewski

By John Majewski

Professor Majewski compares Virginia and Pennsylvania to provide an explanation for how slavery undermined the improvement of the southern economic climate. at the start of the 19th century, citizens in each one country financed transportation advancements to elevate land values and spur advertisement progress. even though, by way of the 1830s, Philadelphia capitalists begun financing Pennsylvania's railroad community, development built-in platforms that reached the Midwest. Virginia's railroads remained a suite of strains with out western connections. the shortcoming of a big urban that can offer capital and site visitors for large-scale railroads used to be the weak point of Virginia's slave financial system.

Show description

Read or Download A House Dividing: Economic Development in Pennsylvania and Virginia Before the Civil War (Studies in Economic History and Policy) PDF

Best economic history books

Against the Gods: The Remarkable Story of Risk

With the inventory marketplace breaking files virtually day-by-day, leaving longtime marketplace analysts shaking their heads and revising their forecasts, a research of the concept that of chance turns out really well timed. Peter Bernstein has written a complete historical past of man's efforts to appreciate possibility and chance, starting with early gamblers in historical Greece, carrying on with throughout the 17th-century French mathematicians Pascal and Fermat and as much as glossy chaos thought.

Routledge Handbook of Major Events in Economic History (Routledge International Handbooks)

The guide of significant occasions in fiscal historical past goals to introduce readers to the $64000 macroeconomic occasions of the earlier 200 years. The chapters endeavour to provide an explanation for what went on and why throughout the most vital financial epochs of the 19th, 20th and early twenty-first centuries and the way the place we're at the present time matches during this ancient timeline.

The Inexact and Separate Science of Economics

This booklet deals a accomplished advent to the basics of ordinary economics, to the ideas economists hire in utilising their theories to unravel specific difficulties, and to the ways that economists examine their theories. the writer issues out that monetary theorists percentage a imaginative and prescient of monetary thought as a "separate" technology, believing unmarried concept targeting one reason, rational "greed," can seize the elemental gains of the full monetary realm.

The Rise and Rise of Road Transport, 1700–1990

So much books approximately Britain's delivery background have focused on canals and railways. it's now transparent good deal of site visitors glided by highway even prior to turnpikes, and that items in addition to passenger companies have been even more hugely built than formerly inspiration. improvement of highway delivery endured throughout the Canal and Railway a while and extended with the arrival of extra effective yet extra environmentally harmful motorcars.

Additional resources for A House Dividing: Economic Development in Pennsylvania and Virginia Before the Civil War (Studies in Economic History and Policy)

Sample text

Albemarle, of course, was hardly unique among Virginia counties. 28 To leave for the West, however popular, was not an easy decision. For many families, the tightly-spun web of kinship networks and social ties offered a powerful inducement to stay. Kin could provide needed credit to expand a farm, emergency labor during the harvest, or financial assistance during hard times. Even young men who resented the smothering constraints of community had to think twice about leaving these reciprocal networks.

After surveying the Rivanna in 1765, Jefferson concluded that clearing a series of small obstructions could convert the stream into a navigable waterway. The young planter secured an act from the colonial assembly that authorized a trusteeship to undertake the "laudable and useful" enterprise. Jefferson and other prominent gentlemen became trustees, collecting voluntary subscriptions and then paying local contractors to remove the obstructions. 1 The trusteeship was not a complete success - a series of navigation and canal companies would attempt to build more permanent improvements over the next 100 years - but Jefferson took considerable pride in his public-spirited efforts.

Stockholders hoped to reap rewards for their investment not so much through direct returns (such as dividends and stock appreciation), but from indirect benefits (increased commerce and higher land values). The financial performance of these transportation corporations, in fact, ranged from merely bad to completely catastrophic: Revenues were low, dividends were rare, and shares often became worthless. For this reason, it is best to think of most transportation enterprises of the early nineteenth century as "developmental corporations" that promised to enrich stockholders less through dividends than by bringing the fruits of market development to local communities.

Download PDF sample

Rated 4.92 of 5 – based on 9 votes