Founding Finance

Download or read book Founding Finance written by William Hogeland and published by University of Texas Press. This book was released on 2012-10-01 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author of The Whiskey Rebellion “dig[s] beneath history’s surface and note[s] both the populist and anti-populist dimensions of the nation’s founding” (Library Journal). Recent movements such as the Tea Party and anti-tax “constitutional conservatism” lay claim to the finance and taxation ideas of America’s founders, but how much do we really know about the dramatic clashes over finance and economics that marked the founding of America? Dissenting from both right-wing claims and certain liberal preconceptions, Founding Finance brings to life the violent conflicts over economics, class, and finance that played directly, and in many ways ironically, into the hardball politics of forming the nation and ratifying the Constitution—conflicts that still continue to affect our politics, legislation, and debate today. Mixing lively narrative with fresh views of America’s founders, William Hogeland offers a new perspective on America’s economic infancy: foreclosure crises that make our current one look mild; investment bubbles in land and securities that drove rich men to high-risk borrowing and mad displays of ostentation before dropping them into debtors’ prisons; depressions longer and deeper than the great one of the twentieth century; crony mercantilism, war profiteering, and government corruption that undermine any nostalgia for a virtuous early republic; and predatory lending of scarce cash at exorbitant, unregulated rates, which forced people into bankruptcy, landlessness, and working in the factories and on the commercial farms of their creditors. This story exposes and corrects a perpetual historical denial—by movements across the political spectrum—of America’s all-important founding economic clashes, a denial that weakens and cheapens public discourse on American finance just when we need it most.

Download or read book Financial Founding Fathers written by Robert E. Wright and published by University of Chicago Press. This book was released on 2006-05 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors chronicle how a different group of nine founding fathers forged the wealth and institutions necessary to transform the American colonies from a diffuse alliance of contending business interests into one cohesive economic superpower.

Download or read book Alexander Hamilton on Finance, Credit, and Debt written by Richard Sylla and published by Columbia University Press. This book was released on 2018-03-06 with total page 527 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A treasure trove for financial and public policy geeks . . . will also help lay readers go beyond the hit musical in understanding Hamilton’s lasting significance.” —Publishers Weekly While serving as the first treasury secretary from 1789 to 1795, Alexander Hamilton engineered a financial revolution. He established the treasury debt market, the dollar, and a central bank, while strategically prompting private entrepreneurs to establish securities markets and stock exchanges and encouraging state governments to charter a number of commercial banks and other business corporations. Yet despite a recent surge of interest in Hamilton, US financial modernization has not been fully recognized as one of his greatest achievements. This book traces the development of Hamilton’s financial thinking, policies, and actions through a selection of his writings. Financial historians and Hamilton experts Richard Sylla and David J. Cowen provide commentary that demonstrates the impact Hamilton had on the modern economic system, guiding readers through Hamilton’s distinguished career. It showcases Hamilton’s thoughts on the nation’s founding, the need for a strong central government, problems such as a depreciating paper currency and weak public credit, and the architecture of the financial system. His great state papers on public credit, the national bank, the mint, and manufactures instructed reform of the nation’s finances and jumpstarted economic growth. Hamilton practiced what he preached: he played a key role in the founding of three banks and a manufacturing corporation—and his deft political maneuvering and economic savvy saved the fledgling republic’s economy during the country’s first full-blown financial crisis in 1792. “A fascinating examination of Hamiltonian economics.” —The Washington Times

Download or read book Adventure Finance written by Aunnie Patton Power and published by Springer Nature. This book was released on 2021-05-28 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The venture capital model doesn’t work—at least not for 99% of startups and small businesses. In this 99% are a lot of companies with incredible potential: businesses headed by female founders and those from diverse racial backgrounds, organizations headquartered outside of venture capital hubs, and purpose-driven enterprises that are creating social and environmental impact alongside financial success. Counter to what the press-savvy venture capital world would have you believe, there are a lot of funding options out there for startups and small businesses. Adventure Finance is designed to help you understand some of these options, and walk you through real examples of how other founders and funders have put them to use. In simple, approachable language, the book breaks down the different types of funding options available from revenue-based financing to recoverable grants to redeemable equity to distributed ownership and more. Through a mix of storytelling and frameworks, based on a decade of research and experience in investing in early-stage companies, this book will give you the ability to determine how each of these structures can contribute to your own funding journey. The goal for this book is to shift the conversation about startup funding and help founders and funders widen the spectrum of “mainstream” investment options in order to make the venture financing world more inclusive and purpose-driven.

Download or read book The Founders and Finance written by Thomas K. McCraw and published by Harvard University Press. This book was released on 2012-10-08 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1776 the United States government started out on a shoestring and quickly went bankrupt fighting its War of Independence against Britain. At the war’s end, the national government owed tremendous sums to foreign creditors and its own citizens. But lacking the power to tax, it had no means to repay them. The Founders and Finance is the first book to tell the story of how foreign-born financial specialists—immigrants—solved the fiscal crisis and set the United States on a path to long-term economic success. Pulitzer Prize–winning author Thomas K. McCraw analyzes the skills and worldliness of Alexander Hamilton (from the Danish Virgin Islands), Albert Gallatin (from the Republic of Geneva), and other immigrant founders who guided the nation to prosperity. Their expertise with liquid capital far exceeded that of native-born plantation owners Washington, Jefferson, and Madison, who well understood the management of land and slaves but had only a vague knowledge of financial instruments—currencies, stocks, and bonds. The very rootlessness of America’s immigrant leaders gave them a better understanding of money, credit, and banks, and the way each could be made to serve the public good. The remarkable financial innovations designed by Hamilton, Gallatin, and other immigrants enabled the United States to control its debts, to pay for the Louisiana Purchase of 1803, and—barely—to fight the War of 1812, which preserved the nation’s hard-won independence from Britain.

Download or read book Founding Choices written by Douglas A. Irwin and published by University of Chicago Press. This book was released on 2011-01-15 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers of the National Bureau of Economic Research conference held at Dartmouth College on May 8-9, 2009.

Download or read book Underwriters of the United States written by Hannah Farber and published by UNC Press Books. This book was released on 2021-10-28 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unassuming but formidable, American maritime insurers used their position at the pinnacle of global trade to shape the new nation. The international information they gathered and the capital they generated enabled them to play central roles in state building and economic development. During the Revolution, they helped the U.S. negotiate foreign loans, sell state debts, and establish a single national bank. Afterward, they increased their influence by lending money to the federal government and to its citizens. Even as federal and state governments began to encroach on their domain, maritime insurers adapted, preserving their autonomy and authority through extensive involvement in the formation of commercial law. Leveraging their claims to unmatched expertise, they operated free from government interference while simultaneously embedding themselves into the nation's institutional fabric. By the early nineteenth century, insurers were no longer just risk assessors. They were nation builders and market makers. Deeply and imaginatively researched, Underwriters of the United States uses marine insurers to reveal a startlingly original story of risk, money, and power in the founding era.