Edited by SVEN BECKERT AND CHRISTINE DESAN A M E R IC A N C A PI TA L I SM COLUMBIA STUDIES IN THE HISTORY OF U.S CAPITALISM COLUMBIA STUDIES IN THE HISTORY OF U.S CAPITALISM Series Editors: Devin Fergus, Louis Hyman, Bethany Moreton, and Julia Ott Capitalism has served as an engine of growth, a source of inequality, and a catalyst for conflict in American history While remaking our material world, capitalism’s myriad forms have altered—and been shaped by— our most fundamental experiences of race, gender, sexuality, nation, and citizenship This series takes the full mea sure of the complexity and significance of capitalism, placing it squarely back at the center of the American experience By drawing insight and inspiration from a range of disciplines and alloying novel methods of social and cultural analysis with the traditions of labor and business history, our authors take history “from the bottom up” all the way to the top Capital of Capital: Money, Banking, and Power in New York City, by Steven H Jaffe and Jessica Lautin From Head Shops to Whole Foods: The Rise and Fall of Activist Entrepreneurs, by Joshua Clark Davis Creditworthy: A History of Credit Surveillance and Financial Identity in Amer ica, by Josh Lauer A M E R IC A N C A PI TA L I SM New Histories EDITED BY SVEN BECKERT AND CHRISTINE DESAN Columbia University Press New York Columbia University Press Publishers Since 1893 New York Chichester, West Sussex cup.columbia.edu Copyright © 2018 Columbia University Press All rights reserved Library of Congress Cataloging-in-Publication Data Names: Beckert, Sven, editor | Desan, Christine, editor Title: American capitalism : new histories / edited by Sven Beckert and Christine Desan Description: New York : Columbia University Press, [2018] | Series: Columbia studies in the history of U.S capitalism | Includes index Identifiers: LCCN 2017028907 (print) | LCCN 2017054108 (ebook) | ISBN 9780231546065 (ebook) | ISBN 9780231185240 (hardcover : alk paper) Subjects: LCSH: Capitalism—United States—History | United States— Economic conditions | United States—Economic policy | United States— Commerce—History Classification: LCC HB501 (ebook) | LCC HB501 A5698 2018 (print) | DDC 330.973—dc23 LC record available at https://lccn.loc.gov/2017028907 Columbia University Press books are printed on permanent and durable acid-free paper Printed in the United States of America Cover design: Nancy Rouemy To Morton Horwitz, who brought law and history together to illuminate capitalism • CONTENTS Acknowledgments ix Introduction PART I MAKING MARKETS The Capitalist Constitution 35 WO O DY H O LT O N What Was the Great Bull Market? Value, Valuation, and Financial History 63 J U L IA O T T The New York City Fiscal Crisis and the Idea of the State 96 KIM PHILLIPS-FEIN PART II CL AIMING AND CONTESTING CAPITALISM Utopian Capitalism 119 R I C HA R D W H I T E The Sovereign Market and Sex Difference: Human Rights in America 140 A M Y D RU S TA N L E Y viii Contents Negro Cloth: Mastering the Market for Slave Clothing in Antebellum America 170 SETH ROCKMAN Revulsions of Capital: Slavery and Political Economy in the Epoch of the Turner Rebellion, Virginia, 1829–1832 195 CHRISTOPHER TOMLINS PART III “KNOWING” CAPITAL Risk, Uncertainty, and Data: Managing Risk in Twentieth-Century America 221 M A RY P O O V E Y Representations of Capitalism in the Gilded Age and Progressive Era 236 PETER KNIGHT 10 Value of Life: Insurance, Slavery, and Expertise 257 M I C HA E L R A L P H PART IV REFIGURING SPACE FROM THE LOCAL TO THE GLOBAL 11 War by Other Means: Mercantilism and Free Trade in the Age of the American Revolution 285 ELIGA H GOULD 12 “Innovative Solutions to Modern Agriculture”: Capitalist Farming, Global Competition, and the Devolution of the U.S Rice Industry 303 PETER A COCLANIS 13 Importing the Crystal Palace 337 M I C HA E L Z A K I M 14 Plantation Dispossessions: The Global Travel of Agricultural Racial Capitalism 361 K R I S M A N JA P R A Selected Bibliography 389 List of Contributors 403 Index 407 ACKNOWL EDGMENTS T his book has been made possible by many people and institutions First, and most important, we want to thank the students, scholars, and other participants who have animated the Workshop on the Political Economy of Modern Capitalism for many years Their creativity, energy, and insight drove the discussions that made this book possible A special thanks to Alexander Keyssar, who helped create the Workshop, and to Arthur Patton-Hock, who has provided the managerial prowess that keeps the Workshop going We are grateful to Larissa Kennedy, Monnikue McCall, and the directors of the Charles Warren Center, Liz Cohen, Joyce Chaplin, Nancy Cott, Walter Johnson, and Vince Brown for their support We have also benefited from the support of the Harvard Law School, the Harvard University Graduate School of Arts and Sciences, and the David Howe Fund for Business and Economic History for the resources that have enabled us to run the Workshop for so many years A big thank-you also to the Harvard History Department, including Mary McConnell, for long-running support of the Workshop in general, and of this book in particular Many people contributed to the production of this volume, including Shaun Nichols, Rachel Steely, and Martha Shulman Peter Knight at the University of Manchester, Christopher McKenna at the University of Oxford, and Julia Ott at the New School convened a series of conferences that stimulated the book We also greatly appreciate the energy and dedication that the speakers and commentators at the 2011 Conference on the New History of American Capitalism brought to Harvard University Thanks particularly to Seth Rockman, 418 Index industrial capitalism (cont.) as plantation-mirror, 381; prices and, 343; profit versus science and, 343; prosperity and, 135–36; Pujo Committee and, 249; rice and, 324, 326, 327; slavery and, 365; southern, 348; surplus-value and, 67; valuations and, 342; wealth and power and, 247 See also machines; manufacturing; plantation dispossessions; rice and innovation; sugar industry; World’s Fair (Crystal Palace) (NYC) (1853) industrial trusts, 237 inequality: capitalism and, 10; Great Bull Market and, 83; industrial capitalism and, 128; Jackson on, 123–24; postWorld War I, 72; republican economy and, 122; Turner’s Virginia and, 196; utopian capitalism and, 135, 136 See also discrimination; equality; poor people; wealth information (data): access to, 21, 22, 65–66, 222; corporate taxes and, 21, 223–31, 233n3; enslaved Caribbean blacks and, 371–74; insurance and, 260–61; Negro cloth and, 174–79, 185; objectivity and, 229; rice and, 324, 327; rice/enslaved African Americans and, 327; risk/ uncertainty and, 21, 221, 228–32; stock tickers and, 241; World’s Fair (NYC) and, 344 See also efficient markets theory; knowledge; quantification (data/statistics); representations infrastructure, 47, 79, 203–4, 212–13, 260, 326, 370 See also housing; railroads; telecommunications Inikori, J E., 371 innovation, 174, 306–7, 310, 332n38, 343, 371 See also expertise; rice and innovation; technologies institutional scholars, 13 insurance, 292 See also life insurance and enslaved African Americans “Insurance Business Amongst Negroes” (Du Bois), 273 intangible assets, 226, 233n6 International Rice Research Institute, 307 interstate commerce See Commerce Clause/13th Amendment inventory, 276n9 investment: British reparations to slaveowners and, 369–71; Contracts Clause and, 36, 39–43, 54; corporations and, 225; democracy and, 15; in government, 16; plantation economies and, 364; post–Revolutionary War recession and, 54; returns on, 72, 85n16, 206, 213–14, 226; stock watering and, 224–25; Turner’s rebellion and, 203; U.S Constitution and, 47–48 See also bonds; capital; citizen investors; corporations; credit; debt; predictions; speculation; stock market investment trusts, 75–77, 79, 82, 94n115, 101 Investors’ Agency, 249 “invisible hand,” 239, 240 “involuntary consumers,” 177, 192n19 Iowa, 309, 315 ironworkers, enslaved, 281n75 Italy, 296, 321, 322 “It’s the Economy, Stupid: An Activist History of the American Founding” (Gould), 300n29 Jackson, Andrew, and Jacksonians, 18, 53, 122, 123–24, 128, 180, 182, 193n33 Jacob (enslaved African American), 267 Jaffee, David, 172 Jamaica, 292, 364, 366t, 367–68, 373, 377 Jamaican Revolt of 1831–32, 377 “Jap” rice, 316 Java, 324, 369, 374, 375, 376, 379 Javits, Jacob, 96, 109 Jay, John, 39, 41 Jefferson, Thomas: fiscal affairs of, 61n67; on government intervention, 126; Indian land and, 41, 42; land speculation and, 42; married women’s property acts and, 52–53; mercantilism/ free trade and, 297; mercantilism versus free trade and, 290–91, 292, 296; republican economy and, 122; utopian capitalism and, 128 Jenkinson, Charles, 296 Jewish communities, 289 Jim Crow South, 365 Johnson, Alvin S., 232n1 Johnson, Walter, 178, 278n25, 278n32, 281n75 Index 419 J P Morgan & Co., 249, 252 See also Rockefeller-Morgan group jute, 374, 380 Kanawha County (WV), 264 Kaufman, George S., 306 Keep the New York Stock Exchange in New York City Committee, 103 Kennedy, Edward, 143 Kennedy, Larissa, 278n25 Kentucky, 48, 50–51, 61n62, 266 Kentucky Penitentiary, 280n69 Kenya, 378 Kerala, 369 kerseys, 174, 176, 178 Keynes, John Maynard, and Keynesian theory, 5, 68, 228, 256n27 Key to Wall Street Mysteries, The (H M Williams), 242 Kharia people, 376 Kidder, Peabody, 77 Kincaid, Jamaica, 24–25, 382 Kindleberger, Charles, 65–68 King, Martin Luther, Jr., 143 King, Rufus, 297 King, Roswell, Jr., 178 Kiusha rices, 316, 327 Klein, Maury, 65 Knapp, Seaman A., 312–13, 313–14, 316 Knight, Frank, 21, 221, 224, 228–29, 232n1, 331n22 See also risk versus uncertainty Knights of Labor, 121, 130, 131–32 knowledge: access to, 231; bioprospecting and, 329n6; commodification of, 306– 7; economists and, 20–21, 236; Negro cloth and, 174, 179, 192n24; overviews, 12, 20–22; plantation dispossessions and, 369, 371–74; representations and, 21–22; rice and, 315; rice/slavery and, 317, 319; systems of, 345–46 See also expertise; information (data); innovation; representations; science; technologies Knowles, Charles, and Knowles Riot of 1747, 287 Knox, Alexander, 206 Kol people, 376 Koninghen Esther (schooner), 293 Kumar, Prakash, 371–72 labor: British slave compensation and, 371; capitalism and, 119–20, 364; circulation of, 196, 197, 212–14; citizen investors and, 73; Commerce Clause and, 157; commodified, 5, 22, 196, 208, 213, 364; corporations and, 225; division of, 345, 372; Du Bois’s theory of, 274; economic growth and, 44; historians of, 8–9, 11; household, 13; indentured, 362, 363; insurance and, 261; machines and, 344, 348, 352, 359n29; market and, 17–18; mining, 22, 379; model villages and, 381; monetization of, 20, 201; Negro cloth and, 171, 179; New York City Crisis and, 98, 104, 105, 108–9, 109–10; productive, 20, 196, 202; rice/sugar compared, 326; rights of, 121, 123; taxable, 201; utopian capitalism and, 120, 121, 122–23, 131; Virginia representation and, 20, 195–202, 203, 204, 206, 208, 212–13; war and, 374; World’s Fair (NYC) and, 339, 348–55 See also African Americans and their labor, enslaved; coerced labor; contract freedom; farmers; free labor; immigrants; industrial capitalism; plantation dispossessions; serfdom; surplus-value; unions, labor; wage labor and wages; working conditions Laborie, P J., 371, 372–73 Lafayette, Marquis de, 41 Lafollette, Robert M., Jr., 81 La Follette, Robert M., Sr., 76 Lake Charles (LA), 313 land: apportionment and, 20, 200; Asia and, 376; farm implements and, 341–42; freehold, 196, 198, 201; Madison’s speculation in, 41–43; monetization of, 201; multinational corporations and, 379; plantation complex enclosures and, 363, 368; plantation dispossessions and, 369, 382; property versus, 201; regulation acts and, 374–75; rice and, 311, 312–13, 316, 319; suffrage and, 201; surveying, 375; vacant, 198 See also freeholders; real estate investment trusts; speculation Lasch, Christopher, 97 Latin America, 376, 381 Laurens, Henry, 288 420 Index law, 8, 54, 259–60, 275n8 See also family law; Hate Crimes Prevention Act of 2009 and other laws; public/private dichotomy; regulation; replevin laws; stay laws; U.S Constitution law and order, 77 Lawrence, Abbott, 192n29 laws, 140 Lay, John O., 266 League of Armed Neutrality, 289 Lee, Charles, 37 legal history, 8, 13 Leigh, Benjamin Watkins, 195, 200, 207, 215n1 leisure, 345–46, 353–54 Lerman, Nina E., 172 less developed countries (LDCs), 306, 307 Lewis, Ronald L., 281n75 liability, limited, 225, 226 liberalism: antimonopolists and, 124–25; British industrial capitalism and, 365; capitalism and, 120; corporate capitalism and, 120, 126; economic development and, 345; Gilded Age, 130; independence and, 126–27; individual actors and, 6–7; knowledge and, 346; legal history and, 8; mercantilism/free trade and, 286, 290, 297–98; New York City Crisis and, 112n5; plantation dispossessions and, 361, 365–66t, 374–75, 377, 378–79, 381–82; republican economy and, 121; utopian capitalism and, 18; wage labor and, 11 See also Jefferson, Thomas and other liberals liberation, 18, 24–25, 155 See also abolition of slavery Liberia, 376 Liberty (sloop), 287, 288 licensing, 343 Life and Diary of John Floyd (Ambler), 216n39 life insurance and enslaved African Americans: coal mining and, 257–58, 261–64, 277n25, 279n41; commodification of laborer and, 22, 266–67; database of, 278n25; expertise and, 257–58, 259, 262, 264, 266–68, 269, 272, 274, 280n58; history of insurance and, 254n4, 258–61, 259, 264–66, 275n8; manumission and, 269–72; overviews, 22, 266–69; postemancipation era and, 272–74, 273; trade in enslaved African Americans and, 264–65, 267–68, 269, 277n15 See also Richmond Fire Association and other insurers “ ‘Life in the midst of death’ ” (Ralph), 280n70 limited liability, 225, 226 Lincoln, Abraham, 122, 123, 128 Lindsay, John, 103 line graphs, 242 literary theory, Liverpool, 365 livestock, 307, 322 Livingston, James, 32n56 Livingston family (NYC), 337 Locke, Jon, 123 Lockett, Squire, 279n43 Lockheed, 105 Lombardy, 322 London Society of Equitable Assurances on Lives and Survivorships, 265 London World’s Fair See Crystal Palace (London) (1851) Long, Edward, 293, 294 long depression (1873–1896), 374 long-run interests, 135 Louisiana: GM rice and, 307; Negro cloth and, 187; plantation dispossessions and, 364, 369, 373; railroads and, 312; rice and, 303, 312–13, 315, 325–26, 328, 332n38 See also cotton Louis XVI, 42 Louvre (Paris), 345 Low, Ned, 285, 293 Lowell, 348 Luce, Charles, 107 Lucy (enslaved African American), 280n58 lumber, 287 Lustig, R Jeffrey, 126–27 Lyell, Charles, 348 lynchings, 365 “Machinery and Modern Industry” (Marx), 352 machines: British export of, 344; Crystal Palace (London) and, 341–42; labor and, 344, 348–49, 352, 359n28; plantation dispossessions and, 372; as Index 421 representations, 237, 245–47, 246f, 255n25; rice and, 314–15; 2008 crisis and, 153–54; West Indian Method and, 368 See also industrial capitalism; manufacturing and manufacturers; technologies Mackenzie, Donald, 256n37 MacPherson, David, 324 Madison, James, 39, 40, 41–43, 290, 297 Malaya, 369, 375, 379, 380 Mallary, Rollin, 180 manias and panics, 50, 51, 53, 65, 66, 238 See also boom-and-bust cycles; panics and manias Mann, Horace, 146 manufacturing and manufacturers, 172, 181, 183, 186, 193n39, 340, 342, 343, 347–48, 365, 374 See also industrial capitalism; machines manumission, 198, 269–72 See also abolition of slavery Mao Tse Tung, 378 Marbury v Madison (1803), 49 marginalism, 132, 228, 244 Mariátegui, José, 378 marketing, advertising, and public relations, 72, 73, 76–77, 79–81, 82, 89n62, 91n79, 175–76 See also media married women’s property acts, 15, 37, 52–54, 55, 61n66, 61n68, 62n70, 62n72, 62n74, 62n76 Marschak, Jacob, 231–32 Marshall, John, 50, 53, 155 Martin, Jordan, 279n43 Marx, Karl and Marxian approaches, 11, 66–67, 85n26, 304, 339, 352, 355, 359n28, 364–65, 384n14 Mary Jane (enslaved African American), 280n58 Mason, George, 55n2 Mason v Haile (1827), 49 Massachusetts, 44, 53, 147–48, 172, 180, 182, 234n6, 287, 292–93, 340, 364 mathematical modeling, 153–54, 221, 231–32 Mather, Cotton, 292 McAdoo, William G., 227 McCallum, Daniel, 250, 256n31 McCarter, James, 186 McCormick, Cyrus, 342, 343–44 McCraw, Thomas, McDuffie, George, 183 McKeown, Adam, 380 McNeill, George, 132 McTyre, Thomas, 263–64 media, 74, 80, 107–8, 112n3 See also advertising Melville, Herman, 356n4 mentalité, 327, 330–31 See also beliefs mercantilism versus free trade: BritishFrench detente and, 367; early U.S and, 291–98; global and imbrications and, 290; mercantilism described, 286–87, 299n9; overviews, 22–23, 285–86; plantation complex and, 363; Revolutionary War and, 286–91, 300n29; rice and, 323; war and, 285–86, 287, 288, 289, 290–91, 301n46; World’s Fair (NYC) and, 339 Mercer, John Francis, 40 Mercer, Richard, 294 merchant capitalism, 343 Merrily We Roll Along (Sondheim), 306 middle class (bourgeoisie), 99, 109, 345, 355, 374 Midwest U.S., 313, 314, 315 migrants and migration, 197, 211, 309, 380 military force, 374, 375, 382 See also war military models, 130, 131 Mill, James, 210 Mill, John Stuart, 129, 130, 131, 352 Mill, Nicholas, 264 Miller, Peter, 232 Mills, Nicholas, 264 mining labor, 22, 363, 379 See also coal mining Minsky, Hyman, 66 Mirowski, Philip, 244, 255n24 Mississippi, 52–54, 62n72, 62n74, 62n76, 187, 303, 340, 369, 373 See also cotton Missouri, 50, 52, 303, 315, 339 Mitchell, John, 101, 113n13, 180 Mitchell, Lawrence E., 233n5 Mitchell, Timothy, 12–13, 346 Mitchell, Wesley Clair, 229–30, 234n13 mobility, 272, 274, 280n68 modernity, 276n8, 306, 328, 355, 358n19 monetization, 20, 213, 234n9, 259, 274 money, 4, 5, 35–36, 37, 48 See also currency; paper money 422 Index Money Trust investigation (1912), 237, 250 Monnereau, Elias, 371 monocropping, 363, 369 monopolies, 126, 225, 291, 362, 378 See also antimonopolists Monroe, James, 41–42 Monsanto, 307 Monte Cristi, 294 Moody, John, 250, 251, 252 morality: abolition and, 365; bookkeeping and, 276n9; boundless market and, 161; churches and, 265; economic values and, 141; individual actors and, 239; industrial revolution and, 345; life insurance and, 265–66, 268–69; Negro cloth and, 178–79, 182; political economy and, 244; public/privet dichotomy and, 310; rationality versus, 327; slavery and, 210–11; Violence against Women Act and, 156, 157; wealth and, 328; White Slave Traffic Act and, 152; World’s Fair (NYC) and, 339, 345 See also conspiracies; dignity; equality; fairness; human rights; life insurance and enslaved African Americans; social justice “Moral Significance of the Crystal Palace” (Bellows), 339 More Heat than Light: Economics as Social Physics, Physics as Nature’s Economics (Mirowski), 255n24 Morgan, J P., 239, 249–50 Morgan Stanley, 97 Morgenstern, Oskar, 231 Morris, Lewis (father), 293, 294 Morris, Lewis (son), 294 Morris, Richard, 294, 301n46 mortality, 265–66 mortgage-backed securities, 253 multinational corporations, 366t, 377–81, 377f See also Unilever, Ltd and others Mumford, Lewis, 359n29 municipal government, 16, 98, 101–2, 104, 109–11, 344 See also New York City Crisis; public/private dichotomy; World’s Fair (Crystal Palace) (New York City) (1853) mutual aid societies, 273, 274 Narrative of the Life of Noah Davis, A (Davis), 270, 272 Nathan (enslaved African American), 264 National Bureau of Economic Research (NBER), 229–30, 234n13, 247 nationalization (government ownership), 4, 71, 72, 73, 74, 75, 77 National Organization of Women, 154, 156 Native American Indians, 41, 42, 47, 69, 162n2 Nature of Capital and Income, The (I. Fisher), 233n3 Negro cloth: competition and, 173–74, 186, 187; described, 19, 170–71, 270–71; economic development and, 172; information/knowledge and, 174–79, 185, 192n24; markets for, 170, 174, 175–76, 181, 185–88; New England industry and, 19, 172; overview, 19; state policy/politics and, 173; tariff of 1828 and, 19, 173, 179–88, 193n33; workers and, 171, 179 neoclassical models, 3, 5–6, 65, 222, 244, 245 Neuborne, Burt, 156 New Deal, 10, 83, 101, 135, 156, 230 New England industrialization, 19, 172, 174, 180, 182, 189n6 new history of American capitalism, 5, 9–14, 281n75 New Jersey, 45, 155, 234n6, 340, 346 New York City, 97, 99, 175, 287, 294, 354, 364 See also New York City Crisis; World’s Fair (Crystal Palace) (NYC) (1853) New York City Crisis: bonds and, 97; donations for, 109, 115n60; housing and, 9, 96, 99; impacts of, 97–100, 106–8; municipal and state bonds and, 101–2; public/private dichotomy, 16–17, 98, 99–110; short-term public debt and, 96–97, 100–101, 104; weak municipal government and, 98, 104, 109–11 “New York: Disaster in Microcosm” (Simon), 105 New York State, 45–46, 49, 97, 105, 234n6, 337, 340, 353, 354 See also New York City; Rockefeller, Nelson New York Stock Exchange, 78–80, 91n79, 101, 102–4, 244 Niles, Hezekiah, 180–81, 183, 184–85 North, Douglass, 32n57 Index 423 North, the (American), 11, 14, 19, 30n39, 122 See also Boston (MA) and other cities; industrial capitalism; Rhode Island and other states; South/North relations; World’s Fair (Crystal Palace) (NYC) (1853) North Carolina, 45, 50, 184, 266, 268, 315, 317, 364, 369 Northup, Solomon, 266 “Note on the Inter-Regional Trade in Manufactures in 1840, A” (Uselding), 190n8 Nott, Josiah, 266 Nullification Crisis (1832), 87, 183 Obama, Barack, 142 objectivity, 8, 12, 229, 242, 245 Offley, David, 194n43 Ogden v Saunders (1827), 49–50 oils, 375, 379, 380 Old Southwest U.S., 312, 315, 316–17 Olmstead, Alan L., 308 Olmstead, Frederick Law, 281n75 options and futures, 237, 253, 303 Organisation for Economic Co-operation and Development (OECD), 307 organization charts, 250, 256n31 “Origin of Slavery and its Effects on the Progress of Civilization” (Dew), 208–9 Other People’s Money (Brandeis), 252 Out of Our Past (Degler), 304 Pacioli, Luca Bartolemeo de, 276n9 Paine, Thomas, 288, 291–92, 296 panics and manias, 50, 51, 53, 65, 66, 238 See also recessions paper money, 38, 40, 43, 45–46, 49, 50, 55, 55n2 See also currency; scrip system patents, 344, 353 Patton-Hock, Arthur, 278n25 Peabody, George, 340 peace, world, 356n9 Peace Convention (London), 341 “peasantry,” 215n2 Pennsylvania, 45, 56n8, 262, 288 See also Philadelphia (PA); whiskey excise Pennsylvania Railroad, 250 pensions and retirement, 75–76, 78 performativity, 85n28 Persistent Poverty (Beckford), 378 persons, 155, 161, 225, 230, 269, 363 See also circulation of persons; Commerce Clause/13th Amendment Philadelphia (PA), 175, 193n39, 260, 339, 364 Pickles, William, 301n43 Pierce, Benjamin, 354 Pierce, Franklin, 349 Pietz, William, 275n7 Piketty, Thomas, 10, 72 Pincus, Steve, 300n29 Pinter, Harold, 306 piracy and privateers, 57n18, 292–96, 296–97 Pitney, Mahon, 234n9 plantation dispossessions: abolition and, 24–25; abolition of slavery and, 361–63, 364–65, 368–74, 382; Asia and, 24, 369, 370–71, 373, 376; Caribbean/North America and, 363–64; consumers and, 380–81; global importance of, 363–80, 366t, 367f, 368f; knowledge and, 369, 371–74; liberalism and, 361, 365–66t, 374–75, 377, 378–79, 381–82; overviews, 24–25, 363, 381–82 See also sugar industry Plumb plan, 71, 72, 74 Polanyi, Karl, 141 political economy, 9, 10–12, 244, 299n9 See also government; income; law; politics; public/private dichotomy; trade; wealth political history, 193n33 politics (political culture), 16, 17, 82–83, 98–99, 108–9, 176–77, 211, 298n2 See also conservatism; liberalism; progressivism; public/private dichotomy; republicanism (independent producers) Pollard, Thomas, 280n60 Pollard, William, 263–64 Polly (enslaved African American), 280n58 Pomeranz, Ken, 31n52 poor people, 54, 104, 126, 129, 135, 239, 322, 339 population, 200, 324, 326 populism, 9, 82, 120, 250 Populist Vision, The (Postel), 120, 136n2 Portugal, 289, 361, 366, 378 Postel, Charles, 120, 136n2 Potomac River canal company, 42 424 Index Potrykus, Ingo, 307 Potter, Joseph, 179 power, 21, 22, 24, 229, 239, 247, 249, 250–53, 305, 370, 384n14 See also colonialism; elites (aristocracy); government; mercantilism versus free trade; wealth Prado, Caio, Jr., 306 Preda, Alex, 244 predictions (projections), 20–21, 66, 68, 222, 232, 237, 242, 318 See also futures and options; risk versus uncertainty; speculation; uncertainty Prentiss, John, 53 press gangs, 287, 288, 297, 375 prices: Babson charts and, 242, 243; black lives and, 274; brokers’ loans and, 81–82; Crystal Palace (London) and, 343; hydraulic machine and, 245–47, 246f; industrial capitalism and, 343; insurance and, 265; manufacturing and, 342; Marx and, 85n26; mathematical models and, 232; perfect capitalism and, 222; plantation commodities and, 379–80; of plantation-dispossession labor, 370; plantation dispossessions and, 374; railroad discrimination and, 125–26; rationality and, 66; representations and, 253; rice and, 325; stock ticker information and, 241; valuations and, 65–68, 84n4; World’s Fair (NYC) and, 342–43, 353 See also monetization; tariffs; valuations; wages Price Statistics Section of the War Industries Board, 229 Primm, John S., 280n58 Prinsep, John, 371–72 private activity versus public authority, profits: corporations and, 225, 229–30; definition of capitalism and, 4–5; farmers and, 23; GMOs and, 307; individual actors and, 25; manufacturing and, 343; “the market” and, 5; mentalité, 310; net versus excess, 223, 227–28; perfect capitalism and, 222; plantation dispossessions and, 364; science versus, 343; wages and, 275n8; World’s Fair (NYC) and, 338 Progress and Poverty (George), 126 Progressive Era, 64, 152, 247, 254n4 See also representations progressivism, 71, 76, 82 “Prohibition of Certain Hate Crime Acts,” 143–44 property: “allodial” theory of, 198; as capital, 64; citizen investors and, 73; fairness and, 224; freedom and, 127–28; government debt repayment and, 32n57; Jefferson on, 126; land versus, 201; law and, 8; the market and, 5; NY Stock Exchange on, 79; persons as, 363; slavery and, 20, 200, 206, 259, 268, 369; suffrage and, 200; U.S Constitution and, 15; U.S Supreme Court and, 226; Virginia valuation bill, 52; World War I bonds and, 69 See also capital; intangible assets; married women’s property acts; nationalization (government ownership) property rights, 340 property tender legislation, 40 protectionism, 340, 362 public/private dichotomy: Bank of the United States and, 123–24; Commerce Clause and, 144, 145, 146, 149, 158–59; commodification of innovation and, 306–7; corporations and, 124, 224; Declaration on the Elimination of Violence against Women and, 154; democracy and, 14; Great Bull Market and, 78, 79; Hate Crimes Act and, 18, 144, 146, 160; human rights and, 18–19; knowledge and, 307; new history and, 10; New York City Crisis and, 16–17, 98, 99–110; self-interest and, 11; vice/virtue and, 310; Violence against Women Act and, 153–56; World’s Fair (NYC) and, 344, 351 See also bonds; general welfare; government; law; nationalization (government ownership); social programs; individual actors public relations, advertising, and marketing, 72, 73, 76–77, 79–81, 82, 89n62, 91n79, 175–76 See also media Pujo Committee report, 237, 247–53, 248f Putnam’s Monthly, 338–39, 345, 346, 347, 354–55, 356n4 Index 425 quantification (data/statistics), 7, 13, 20, 263–64, 269, 372, 378–79, 387n83 See also information (data); mathematical modeling; monetization; prices; valuations race, 5, 11, 51, 270, 364, 365 See also African Americans and their labor, enslaved; plantation dispossessions; white manhood democracy railroad brotherhoods, 18, 121, 131, 132–34, 337, 357 railroads: coal and, 262; customer/ employee stock ownership plans and, 74; discounting techniques and, 93n97; federal subsidies and, 124; first American, 261; as first corporations, 233n5; Floyd’s emancipation scheme and, 203–4, 212–13; labor organizations and, 121; land grants and, 124, 125; Law of Deodand and, 275n7; nationalization of, 71; plantation complex and, 363; plantation dispossessions and, 369, 370; rice and, 312–13; wages and, 133 See also railroad brotherhoods; Union Pacific and other railroads; unions, labor Railways and the Republic (Hudson), 124–25 Ralph, Michael, 280n70 Rand, Ayn, 135 Randolph, A Phillip, 273 Randolph, Martha Jefferson, 52, 61n67 Randolph, Thomas Jefferson, 205–6 rape: Commerce Clause and, 145, 156–57, 159–60, 161; as hate crime, 159, 168n71; in marriage, 19, 145, 147–49, 153, 154, 155, 156, 158, 161, 167n53; slavery and, 147–48; statistics, 155, 167n49 See also Violence Against Women Act of 1994 rationality/irrationality, 65–66, 135, 226–27, 232, 242–43, 310, 316, 327 See also bureaucratization; science Ravenel, William, 187 real estate investment trusts, 101 recessions, 36, 38, 44–45, 46, 54, 71 See also boom-and-bust cycles; economic growth and development; Great Depression of 1930s; panics and manias; 2008 crisis Reconstruction, 9, 142, 146–47, 274, 364–65 “Refusal to Work: From the Postemancipation Caribbean to PostFordist Empire, The” (Taylor), 387n83 regulation: citizen investors and, 73; corporate taxes and, 226; Great Bull Market and, 68, 75; mercantilism/free trade and, 297–98; New York City Crisis and, 100, 101; NY Stock Exchange on, 80; plantation dispossessions and, 374–75; power and transportation and, 74; 21st century and, 154; utilities and, 75; utopian capitalism and, 125, 134–36 See also mercantilism versus free trade Reinhart, Carmen, 65 religion and churches, 60n52, 129, 149, 265 replevin laws, 50–51, 61n62 representation, political, 20, 51, 198–202, 212, 226 See also democracy; suffrage representations (Gilded Age/Progressive Era): Babson charts and, 237, 241–44, 243f; cartoons and, 237, 238–41, 240f; knowledge production and, 21–22; machines as, 245–47, 246f, 255n25; overviews, 21, 236–37; Pujo Committee report and, 237, 247–53, 248f; 21st century and, 244, 253–54; ways of seeing and, 236 See also abstraction; knowledge republicanism, economic (independent producers): corporations and, 238; enslaved African Americans and, 122, 206–7, 210; global imbrications and, 338; machines and, 352; mass production and, 340; utopian capitalism and, 119–20, 121–23, 127, 131, 132 See also freeholders Republicans and Republican Party, 81, 122, 124, 297 retirement and pensions, 75–76, 78 Reuben (enslaved African American), 264 Review of the Debate in the Virginia Legislature of 1831 and 1832 (Dew), 208–12 Revolutionary War, 39, 44, 286–91, 300n29, 318, 324 “revulsions of capital,” 197, 210, 214, 214n1, 215n1, 216n39 See also Turner’s Virginia Reynoso, Alvaro, 371 Rhode, Paul W., 308 426 Index Rhode Island, 45, 46, 50, 53, 172, 184–85, 340, 364 rice and innovation: Africa and, 321, 327, 335n63, 336n77; Asia and, 323, 324–25, 326, 335n63; devolution of, 305–6, 329n10; enslaved African Americans and, 304–5, 312, 317–18, 319–20, 322, 325, 327, 334n53, 335n63; exporter worldrankings and, 330n17; “ghost acres” and, 323, 335n60; global importance of, 13, 311, 321–27; GMOs and, 303–4, 306, 307–8, 327–28, 328n1, 330n14; government and, 331n22, 332n38; history of, 304–5, 308, 309–11, 312–28; Navigation Acts and, 287; overview, 23–24, 304–5; plantation dispossessions and, 309; U.S number of acres (2012) and, 331n23; why rice?, 320–21 See also South Atlantic zone Richland, W Bernard, 115n60 Riddle, Edward, 337, 354 rights, natural, 206 “Rights of a Battered Women” (congressional witness), 154 Risk, Uncertainty, and Profit (Knight), 232n1, 331n22 risk versus uncertainty: corporate taxes and, 21, 223–30, 231; data and, 21, 221, 228–32; overview, 20–21; uncertainty and, 221–23 River of Dark Dreams: Slavery and Empire in Cotton Kingdom (Johnson), 278n32, 281n75 Roane, William H., 205 Robinson, Cedric, 365 Rockefeller, John D., 129, 130–31, 239 Rockefeller, Nelson, 101, 103 Rockefeller-Morgan group, 251–52 Rodman, Daniel, 185 Rodney, George, 289–90 Rogoff, Kenneth, 65 Rohatyn, Felix, 106 Roitman, Janet, 98 Roosevelt, Theodore, 226, 230 Rose (enslaved British Guyanan), 362 rubber, 361, 375, 379, 380, 381 Rumsfeld, Donald, 104 Rush, Benjamin, 36 Russia, 71–72, 108, 289 Ruttan, Vernon W., 332n38 Ryan, Allan A., 78–79 Sacramento Valley (CA), 308, 311, 313, 315, 316–17, 328 Saint-Domingue, 294, 366t, 367–68, 369, 371–72, 373 Santa Clara decision (1886), 225 Sanyal, Kalyan, 383n14 Sarkar, Benoy Kumar, 378 Saunders, Edward W., 150–51, 152 savings, 64, 69, 74, 272 See also austerity; consumers and consumption Schiebinger, Londa, 305 Schmidt, Helmut, 107 Schroeder, Patricia, 155 Schumpeter, Joseph, 2, 18, 135–36 Schumpeter, Joseph A., 356n9 Schuyler family (NYC), 337 science: Babson chart and, 242; capital and, 259–60; coal mines and, 262, 263–64; economic models and, 244–45, 255n24; global importance and, 345–46; government oversight and, 226–27; mentalité, 310; Negro cloth and, 174, 177; plantation complex and, 363, 367–68; plantation dispossessions and, 375; as public or private property, 338; rice and, 327; scholarship on, 31n46; World’s Fair (NYC) and, 346 See also Bayer CropScience; bioprospecting; GMOs (genetically modified organisms); knowledge; Nott, Josiah and other scientists; technologies scientism, 305 Scotland and the Scottish, 369, 370 Scott (Judge), 259 Scott, Joan, Scott, Joel, 280n69 scripomania, 49 scrip system, 381 Scudder, Philip, 249 sea, the, 291, 292, 293 See also Caribbean; Indian Ocean Sea Island planters, 176, 178 Second Anglo-Burmese War (1852), 324 Sedgwick, Theodore, 350–51 self-interest, 5, 11, 21, 39, 40–43, 231 See also profits; individual actors Seligman, E R., 233n3 sequestration act (VA), 49 Index 427 serfdom, 134, 209, 375 Seven Years’ War, 287, 288 Sharp, Solomon, 51 Shays’ Rebellion (1786), 44, 53 Shepard, Matthew, 142 Shepherd, Lucy, 272 Sherman Anti-Trust Act (1890), 233n6 Shih, Shu-mei, 363 shipping See transportation and shipping Shipstead, Hendrick, 81 Shivji, Issa, 383n14 Shu-Mei Shih, 363 Simmel, Georg, 339 Simmons, E H H., 81–82 Simon, William, 104–5, 106, 113n34 Singer, I M., 343, 352 Sisson, Frank H., 76 Six Nations of the Iroquois, 41 Skipwith, Peyton H., 185 Sklansky, Jeffrey, 236 Sklar, Martin, 233n6 Skocpol, Theda, Slaughterhouse Cases of 1873, 147 “Slave Insurance Database, The,” 278n25 Slave Insurance Treasury, 278n25, 280n58 slavery See African Americans and their labor, enslaved; Caribbean blacks and their labor, enslaved slave South, the (American): British industrial capitalism and, 365; Caribbean and, 363–64; debt and tax relief and, 61n66; economic incentive and, 7; industry and, 348; Jim Crow, 365; multinational corporations and, 377f; new history and, 11, 14; the North versus, 14, 19, 30n39; plantation dispossessions and, 361, 368–69, 368f; slaveholders as sovereigns and, 217n49; slaveholders versus non-slave holders, 197–98; Virginia slaveholders and, 204, 214; White Slave Traffic Act and, 151–52 See also African Americans and their labor, enslaved; cotton; life insurance and enslaved African Americans; Negro cloth; rice and innovation; South Atlantic zone; South Carolina and other slave states; south central states; southwestern U.S.; Turner’s Virginia Smith, Adam, 6, 23, 126, 285, 295, 298, 352 Smith, Robert, 279n43 smuggling, 194n43, 288, 293–96, 301n43, 302n61 social conflict, 68, 69, 82 See also strikes, protests, riots and insurrections (resistance) social construction of value, 67–68 social history, 7, 8, 172 See also Blackmar, Elizabeth and other social historians social justice, 223, 227, 229–30 social knowledge, 174 social organization, 97, 130–31 social programs, 75–76, 77 See also general welfare; public/private dichotomy “social reproduction of seriousness,” 346, 358n18 solidarity, 8, 19, 74, 201 Sondheim, Stephen, 306 Souter, David, 158 South, the (American) See slave South, the (American) South, Global, the, 363, 369, 374, 381 South Atlantic zone: plantation dispossessions and, 364, 366, 368f; rice and, 309, 312, 316–28, 333n42, 334n53 See also Georgia; South Carolina South Carolina, 36, 38, 45, 56n7, 61n68, 180, 181, 183 See also Charleston (SC); South Atlantic zone south central states, 308, 311 South/North relations, 171–72, 186, 268 See also Nullification Crisis (1832) southwestern U.S., 174, 187–88, 333 See also Old Southwest U.S Southwest Immigration Company, 312–13 space and time, 13–14, 22–25, 276n8 See also leisure Spain, 294, 361, 366, 367, 371 See also Cuba Spalding, Thomas, 177 specialization (division of labor), 345, 372 speculation: Gould and, 239–40f; information and, 228; Madison and, 41–43; national bank and, 49; new history and, 13; representations and, 244; rice land and, 313; U.S Constitution and, 48, 59n38; wealth transfers and, 44; World’s Fair (NYC) and, 350–51, 352, 353 See also futures and options; life insurance and enslaved African Americans 428 Index Speculation Economy, The (L E Mitchell), 233n5 Spencer, Herbert, 127–28 Stamp Act, 287, 288, 293 Stanton, Elizabeth Cady, 141, 154 state governments (U.S.): bonds and, 101–2; “business income” and, 227; Commerce Clause and, 43–46, 49–50, 54; corporations and, 233n6; democracy and, 46; economic modeling and, 247; Federalist Papers on, 41; international conventions and, 166n45; married women’s property acts and, 15, 37, 52–54, 55, 61n66, 61n68, 62n70, 62n72, 62n74, 62n76; Negro cloth and, 173; paper currency and, 45; tax and debt relief and, 37, 38–39, 40, 43–44, 46, 47, 49–50; taxes on farmers and, 37; World’s Fair (NYC) and, 340, 344 See also public/private dichotomy; state versus federal power; Turner’s Virginia; Virginia and other states states (national governments), 6–7, 13, 25, 56nn7–8, 80 See also Britain and other states; government; mercantilism versus free trade; nationalization; U.S (federal) government state versus federal power: antebellum tariffs and, 179–80, 183; Contracts Clause and, 50–51, 52; sex-based crimes and, 142–43; sex trafficking and, 150–51; Violence against Women Act and, 154–55, 157; Woolens Bill and, 183 See also state governments (U.S.); U.S Supreme Court “Statistics of Southern Slave Plantation” (Nott), 266 stay laws, 40, 50 steam, 319, 327, 338, 339, 347–48, 352, 359n28 steamboats, 149, 155, 157, 266, 267f Stephen, James, 296 Stevenson, James, 182 Stewart, Alvan, 192n29 stock market: abstraction and, 153–54, 237, 241, 244; cartoons and, 239–41, 240f; charts and, 241–42; prices/rationality and, 66; as representation, 237; representation and, 238–39; World’s Fair (NYC) and, 337, 338, 350, 353 See also bucket shops; futures and options; Great Bull Market; New York Stock Exchange stock watering, 224–25, 226–27 Stone, Henry B., 133 strikes, protests, riots and insurrections (resistance): AT&T and, 72; Civil War as strike, 274; multinational corporations and, 379; New York City Crisis and, 107, 108–10, 109; of 1919, 72; plantation dispossessions and, 376, 377; St. Eustatius capture and, 289; Third World and, 378, 379, 381; trade in enslaved people and, 271; working conditions and, 281n75 See also Knowles Riot of 1747 and others; social conflict Sturges v Crowninshield (1819), 49 Stutz Motor Car Company, 78 Suarez-Villa, Luis, 306 subsidies, 47, 71, 100, 124, 126, 308, 311, 317, 373 suffrage, 20, 70, 83, 142, 143, 198–201, 212 See also apportionment sugar industry: abolition of slavery and, 368; Brazil and, 366; British abolition of slavery and, 361; British industrial capitalism and, 365; Caribbean and, 367; Cuba and, 384n23; global importance of, 13; Haitian Revolution and, 210; innovation by enslaved people and, 371; knowledge and, 369, 371; labor demand for, 374; Louisiana and, 312; mercantilism and, 287; multinational corporations and, 378, 379, 381; Negro cloth and, 174, 180; plantation dispossessions and, 361, 364, 365, 366, 366t, 367–69, 370, 371, 374, 375, 378, 379, 380, 381, 384n23; rice compared, 326; smuggling and, 294; subsidies for, 294; urban labor and, 325; Virginia and, 364; West Indian method and, 368; World’s Fair and, 348 Sumner, William Graham, 127–28, 130 Supremacy Clause (U.S Constitution), 49 surplus-labor, 359n28 surplus-value, 66–67, 85n26, 353 Swan, Dale, 325 Index 429 Sweet, Sarah, 179 “swing to the east,” 370 systems theory, 255n25 Tadiar, Neferti, 383n14 Taft, William A., 226 Taney, Roger B., 53 tariffs: Articles of Confederation and, 57n18; of 1816/1824, 171, 180, 181; of 1828, 19, 173, 179–88, 193n33; of 1832/1833, 183; mercantilism versus, 286; Negro cloth and, 184; U.S Constitution and, 47 tasking system, 327, 334n49 task-wages, 381 Tate & Lyle Ltd., 378, 379 tax and debt relief: Commerce Clause and, 49–50; federal government and, 32n57; paper currency and, 45–46; state governments and, 37, 38–39, 40, 43–44, 46, 47, 49–50; U.S Constitution and, 40, 43, 45 taxes: apportionment and, 226; corporate, 21, 223–31, 226, 233n3; information and, 228–29; land versus property and, 201; municipal and state bonds and, 102; Negro cloth and, 173; New York City Crisis and, 98, 100, 103–4, 110; 1920s U.S government and, 75; paper currency and, 45; personal income, 226; progressive income, 228; stock transfer, 16; transfers (redistribution) of wealth and, 44, 226, 230; uncertainty/ entrepreneurs and, 224; U.S government and, 46–47; Virginia emancipation debate and, 200, 203; wartime, 227; Woolens Bill as, 181 See also Stamp Act; tariffs; tax and debt relief; whiskey excise Taylor, Christopher, 387n83 tea, 369, 374, 375, 376, 379, 381 technocapitalism, 306, 327, 329n11 technologies: art and, 358n19; farm implements and, 341–42; Great Bull Market and, 65; investors and, 64; poor people and, 126; resource possibilities and, 310; rice and, 309, 327; the South and, 348; World’s Fair (NYC) and, 339, 344 See also GMOs (genetically modified organisms); industrial capitalism; information; innovation; knowledge; machines; rice and innovation telecommunications, 72, 73, 380 Texas, 53, 303, 312, 313, 315, 332n38 See also cotton Theory of Games and Economic Behavior (von Neumann and Morgenstern), 231 Third World, 24, 377–78, 378–79, 382 Thompkins, Joseph, 264 Thompson, Alexander, 313 Thornton, Tyrel, 280n58 ticker tape, 244 Tidewater region (VA), 197, 199, 200–201 Tilly, Charles, timber, 313, 346, 379 time and space, 13–14, 22–25, 276n8 See also leisure Time for Truth, A (Simon), 105 Time on the Cross (Fogel and Engerman), Tinker, Hugh, 375–76, 380 tobacco, 13, 287, 366t Tocqueville, Alexis de, 342 Tomlins, Christopher, 297–98 trade, 47, 48, 298n2, 380 See also mercantilism versus free trade; trade in enslaved people; transportation and shipping trade in enslaved people, 12, 206, 211, 264–65, 266, 267–68, 269, 277n15, 361, 367 See also circulation of persons; human trafficking Transformation of American Law, The (Horwitz), translocality, 276n8 transportation and shipping, 74–75, 249, 262, 277n15, 364, 369, 370, 374, 380 See also piracy and privateers; railroads; smuggling; trade; trade in enslaved people Treanor, William, 49 treaties, 149 Trinidad, 369, 378, 379 Trustees of Dartmouth College v Woodward (1819), 49, 60n52 trusts, 237, 250–53 Tucker, Nathaniel Beverly, 196–97 Tufts, Aaron, 182 430 Index Turner, Nat, and his rebellion, 19–20, 195, 203, 204, 206, 214, 215n1, 215n11, 377 See also Virginia Slave Rebellion (1831) Turner, Reuben, 264 Turner’s Virginia: background, 195–97; circulation of labor and, 212–14; emancipation of enslaved African Americans and, 196, 197, 199, 202–12, 213, 214; land versus labor and, 20, 195–202, 203, 204, 206, 208, 212–13; overview, 19–20 2008 crisis, 2, 16, 21, 222, 253–54 Tytler, Robert Boyd, 370 uncertainty, 67, 231–32, 244 See also predictions; risk versus uncertainty Unilever, Ltd., 378, 379, 381 Union Pacific, 121, 124, 129, 132, 134 Union Pacific Employees’ [sic] Magazine, 132 unions, labor, 16, 69–70, 71, 72, 73, 74, 97, 102, 107, 134–35 See also American Federation of Labor and other unions; brotherhoods; labor; strikes, protests, riots and insurrections (resistance) United Fruit Company, 378 United Nations, 142, 149, 153–54, 166nn45–46 United Negro Improvement Association, 71 United States See also government; railroads; Revolutionary War and other events; the South and other regions; state governments; U.S (federal) government U.S Articles of Confederation, 39, 43, 57n18 U.S Bill of Rights, 35 U.S Congress, 40, 81, 103–4, 106, 125, 150, 157, 226, 290, 292, 340 U.S Constitution: Article I, section 9, 226; Article VI, 50; boom and bust cycles and, 47, 48–49; capitalist development and, 15, 59n38; democracy and, 37–38, 43, 46; economic growth and, 47–48; 15th Amendment of, 54; 14th Amendment, 54, 156; gender and, 18–19; recession of 1780s and, 44–46; Reconstruction Amendments, 142; state-issued bills of credit and, 48; Supremacy Clause, 49; 13th Amendment, 18, 161n2, 165n35, 280n69 See also Commerce Clause/13th Amendment; Contracts Clause (Article I, Section 10); Madison, James and other framers; U.S Articles of Confederation U.S federal courts, 50, 227 U.S (federal) government, 8, 97, 104–5, 106–8, 124, 224, 226–27, 344 See also Ford, Gerald and other presidents; municipal government; nationalization; other entries beginning “U.S .”; public/private dichotomy; state versus federal power; subsidies; tariffs; taxes; U.S Constitution U.S Government Savings division, 71 U.S Supreme Court: “business income” and, 227; Commerce Clause and, 37, 49–50, 53–54, 156; corporations and, 225, 233n6; personal income tax and, 226; “persons” and, 230, 255; property and, 53, 226; railroads and public interest and, 125; slavery’s badges and, 147; women’s rights and, 19, 53, 147–48, 153–61 See also Marshall, John and other judges; United States v Morrison (2000) and other decisions U.S Treasury Department, 69, 71, 106, 340 United States v Morrison (2000), 157–60 unity of mankind, 345 Universal Declaration of Human Rights, 166n46 universality, 276n8, 339 “universal society,” 289 Untermyer, Samuel, 249, 250 Upshur, Abel, 200, 201, 202 Uselding, Paul J., 190n8 utilities, 74, 75, 375 utility, 244, 346, 353 utopian capitalism, 17–18, 20, 64, 119–21, 121–27, 134–36 See also antimonopolists valuations: abstractions and, 237; capitalism and, 64; citizen investors and, 78–80, 82; of corporations, 223, 224, 227–28, 230–31, 233n6, 247; of enslaved African Americans, 268; entrepreneurs and, 224–25; Index 431 of human lives, 265; individual actors and, 86n33; of labor, 275n8; of land, 201; prices and, 65–68, 84n4; representations and, 153–54; social construction of value and, 67–68, 85n26, 86n33; 2008 crisis and, 253 See also commodification; predictions (projections); prices; quantification (data/statistics) valuation studies, 85n28 Van Buren, Martin, 193n33 Vanderbilt, Cornelius, 239 Van Riper, Lewis, 242 Veblen effect, 68 Vermont, 50, 180, 340 violence, 18–19, 166n46, 266–67, 362, 363, 368, 372–73, 378–79, 379 See also coerced labor; military force; rape; Turner, Nat, and his rebellion; Violence Against Women Act of 1994; war; war Violence Against Women Act of 1994, 19, 153–61, 167n53 Virginia: debt and tax relief and, 42, 49, 51–52, 61n66; domestic trade in enslaved people and, 266; insurance and, 260; life insurance/enslaved African Americans and, 261–64, 267–68; Negro cloth and, 175; plantation dispossessions and, 369; plantation economies and, 364; sex trafficking and, 151; slave population of (1830–1832), 209; Woolens Bill and, 180 See also coal mining; Turner’s Virginia Virginia Constitutional Convention (1829–1830), 196, 197, 199–202, 215n2, 215n11 Virginia Slave Rebellion (1831), 377 See also Turner, Nat, and his rebellion von Neumann, John, 231 wage labor and wages: African American enslaved labor versus, 184; Crystal Palace (London) and, 340; definition of capitalism and, 4–5; enslaved labor versus, 184; equality and, 133–34; Fatal Accidents Act of 1846 and, 275n7; laws and, 140; Marx on, 11; NY Stock Exchange on, 80; profit and, 275n8; railroads and, 133; utopian capitalism and, 121, 131, 132–33 See also contract freedom; free labor; scrip system; surplus-labor; unions, labor; working conditions wage slavery, 126 Wainwright, Bishop, 349 Wall Street, 237, 244 See also elites; New York Stock Exchange war: land/labor and, 374; mercantilism versus free trade and, 285–86, 287, 288, 289, 290–91, 301n46; plantation dispossessions and, 309, 369; privateers and, 292; recessions and, 44–45; smuggling and, 295; trade and, 298n2 See also World War I and other wars Ware v Hylton (1796), 49 War in Disguise (Stephen), 296 War News from Mexico (Woodville), 171 Washington, Booker T., 273 Washington, George, 38, 41–42, 47, 49, 290, 297 Washington, Madison, 269–71 Watkins, Jabez B., 313 wealth: anticipated future income and, 228, 233n3; corporate, 229–30; corporate additions to U.S economy, 233n5; enslaved African Americans and, 196, 197, 202, 317; free labor as, 202; morality and, 328; multinational corporations and, 379; plantation dispossessions and, 364; Pujo Committee and, 247, 249; racial capitalism and, 365; regulation and, 374–75; rice and, 311, 317; transfers and distributions of, 20, 44, 47, 126, 197, 226, 229–30; Turner’s Virginia and, 199–200; World’s Fair (NYC) and, 339 See also capital; elites (aristocracy); income; inequality; labor; land; property Wealth of Nations (A Smith), 285, 352 Weber, Max, 127, 298n5, 339 West, the (American), 9, 375 See also Old Southwest U.S West Indian Method, 368, 369, 371–73 See also plantation dispossessions West Indies, 292, 369–70 See also Caribbean; plantation dispossessions; Saint-Domingue and other locales West Virginia, 197, 198, 264 “What Is Called History at the End of Modernity?” (Livingston), 32n56 432 Index wheat, 287, 311, 314–15, 322 Whigs, 61n66, 123, 193n29, 339 whiskey excise, 46–47 White, Richard, white manhood democracy, 18, 20, 121–23, 135, 137n4, 146, 196, 199–200, 201 See also free labor White Slave Traffic Act of 1910, 18, 149–53 Whitman, Walt, 339 Wilkins & Black, 175 Williams, David Rogerson, 184 Williams, H M., 241–42 Williams, William Appleman, 286 Wilson, James, 36 Wilson, Sarah A., 115n60 Winston, Joseph, 264 Winter, Gabriel, 176 women: commodification of, 18–19; enslaved, 53, 266–67, 280n58; married women’s property acts and, 15, 37, 52–54, 55, 61n66, 61n68, 62n70, 62n72, 62n74, 62n76; U.S Supreme Court and, 19, 53, 147–48, 153–61; violence against, 18–19, 166n46; World War I bonds and, 69–70 See also Declaration on the Elimination of Violence against Women (UN); gender (sex difference); married women’s property acts; rape; Stanton, Elizabeth Cady and other women; suffragists; Violence Against Women Act of 1994 Woodson, Carter G., 273–74 Woodville, Richard Caton, 171 Woolens Bill (tariff of 1828), 19, 173, 179–88 Woolridge, Abraham S., 263, 277n20, 279n37 Woolridge, Archibald L., 277n20, 279n37 working class See labor working conditions, 18, 121, 126, 129, 131, 133–34, 257, 262, 272, 278n32, 281n75 See also mining labor; pensions and retirement World’s Fair (Crystal Palace) (NYC) (1853), 24, 337–38, 339, 344–51, 348–55, 355n1 World War I, 16, 65, 67n45, 69–71, 72, 73, 74, 77, 78, 82, 99, 229, 380 World War II, 99 Wray, Leonard, 373 Wright, Elizur, 265 Wynter, Sylvia, 383n14 York, Benjamin and Nathan, 264 Young, Allyn J., 233n1 ... Title: American capitalism : new histories / edited by Sven Beckert and Christine Desan Description: New York : Columbia University Press, [2018] | Series: Columbia studies in the history of U.S capitalism. .. economy of capitalism. 28 Finally, writers on American capitalism were deeply influenced by a cohort of historians who had long written on the American political economy The history of American capitalism. .. change and political economy and provided a fertile ground for the new story of American capitalism. 29 The new history of American capitalism emerged as scholars in history, law, and political science