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Alexander the Great

[Na] Leader of the Macedonians. Born in 356 bc, Alexander was tutored in his early years by Aristotle before succeeding his father Philip as king of Macedonia and the mainland of ...

Report on Manufactures

Report on Manufactures   Reference library

Doug Bradburn

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013
Subject:
Social sciences, Business and Management, Economics
Length:
1,227 words

...Manufactures Secretary of the Treasury Alexander Hamilton prepared his Report on Manufactures over the summer of 1791 as his third great state paper on American economic development. His first two papers, the Report on the Public Credit and the Report on a National Bank , had been extraordinarily successful. Despite opposition, both plans led to major legislation that transformed public credit and the management of national finances. The first report led to the assumption of states’ debts from the American Revolution and the refinancing of foreign...

Gallatin, Albert, and Economic Development

Gallatin, Albert, and Economic Development   Reference library

Doug Bradburn

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013

...$1 million per year during the tenure of Secretary of the Treasury Alexander Hamilton, expressed a vision of economy in government expenditures, and called for the national debt to be rapidly extinguished. As the leading Republican expert in matters of finance, Gallatin was the natural choice of President Thomas Jefferson for secretary of the treasury, and he remained in that position until 1813 when he was sent to Europe by President James Madison to help negotiate an end to the War of 1812 . At the Department of the Treasury he stood for a clear...

Financial and Banking Promotion and Regulation

Financial and Banking Promotion and Regulation   Reference library

Jennifer Taub

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013

...created the Bank of North America (BNA) to help finance the Revolutionary War. A year later, the BNA stopped being a creature of central government when it received a charter from the state of Pennsylvania. In 1790 , Alexander Hamilton, the secretary of the treasury, recommended to the U.S. Congress that it charter a national bank that would be majority-owned by shareholders. Such a bank would be modeled after central banks abroad and would support trade and industry, foster economic development, and manage the federal government's funds. The plan...

Reserve Army of Labor

Reserve Army of Labor   Reference library

Joshua B. Freeman and Steve Fraser

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013

...and the more radical among them questioned the viability and morality of the “wages system” itself. Mass demonstrations by the unemployed, demanding relief and radical social change, episodically shook the social order from the 1870s through the 1930s. The Great Depression brought to a climax and an end the protracted period during which exigencies of the reserve army of labor highlighted the underlying malfunctioning of capitalism. The deep economic downturn was so unsettling that politicians and legislators had little choice but to accept the recurrent...

Telephone

Telephone   Reference library

Claude S. Fischer

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013

... In 1876 , Alexander Graham Bell devised the technology for the electronic communication of the human voice between two points—a technology involving variations in an electric current responding to the sound waves created by human speech. By 1878 a “switchboard” permitted any telephone user to reach any other user in the same network. Further advances in the nineteenth century extended the effective distance of the telephone to hundreds of miles, reduced electrical interference, simplified the instrument, and expanded the number of telephones that...

Tariffs

Tariffs   Reference library

Paul P. Abrahams

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013
Subject:
Social sciences, Business and Management, Economics
Length:
1,292 words

...(1) to protect the domestic economy and specific economic sectors from foreign competition and (2) to raise government revenues. Even before the founding of the United States, British attempts to regulate imperial trade through tariffs and taxes precipitated resistance in the American colonies. Hence, the Constitution of 1789 gave the new federal government control of overseas commerce, and Congress set low tariff rates solely to raise revenue to cover public expenses and obligations. The first secretary of the treasury, Alexander Hamilton, proposed...

Workers’ Self-Management

Workers’ Self-Management   Reference library

Joseph R. Blasi

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013

... Cooperatives ; Cooperatives and Worker Management ; Employee Representation Plans ; Industrial Democracy ; Rockefeller Plan, The ; and Welfare Capitalism . ] Bibliography Adams, Herbert B. , ed. History of Coöperation in the United States . Baltimore: N. Murray for Johns Hopkins University, 1888. Includes studies by various authors. Blasi, Joseph R. George Washington, Thomas Jefferson, and Alexander Hamilton: An Early Case of Shared Capitalism in American History . New Brunswick, N.J.: Rutgers University School of Management and Labor Relations...

Economic Regulation

Economic Regulation   Reference library

Thomas K. McCraw

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013
Subject:
Social sciences, Business and Management, Economics
Length:
2,103 words

...regulatory mechanisms were essential as well. The Monetary System and the Capital Markets.  All cash-and-credit economies, including the American one, also require a monetary authority—typically a central bank—to regulate the supply and value of money. In colonial America, banks were almost nonexistent, but after independence Alexander Hamilton's First Bank of the United States ( 1791–1811 ) served some functions of a central bank until its twenty-year charter expired and was not renewed. The Second Bank of the United States ( 1816–1836 ) was even more...

Economic Theories and Thought

Economic Theories and Thought   Reference library

Stanley L. Engerman

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013
Subject:
Social sciences, Business and Management, Economics
Length:
2,197 words

...economic commissions in the 1920s. The Keynesian Revolution.  The Great Depression of the 1930s led to some disillusionment with the standard economic models, particularly when the decline persisted for longer than had earlier economic downturns. Thus the analysis of the British economist John Maynard Keynes attracted considerable attention, and under the influence of the Harvard economist Alvin Hansen and his students, including Paul Samuelson, Keynesianism dominated macroeconomic theory in the 1940s and 1950s. Keynes modified the standard classical model,...

Unemployment

Unemployment   Reference library

Max Fraser

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013
Subject:
Social sciences, Business and Management, Economics
Length:
1,696 words

...public works projects, and to debate the merits of unemployment insurance. In 1932 , Wisconsin became the first state to pass legislation providing unemployment insurance—three years after the beginning of the most severe employment crisis in American history. In the first three months of the Great Depression, the ranks of the unemployed jumped from 429,000 to more than 4 million; by 1933 , more than one quarter of the American workforce was out of work, and in cities like Toledo, Ohio, the rate approached 80 percent. The unemployed organized to demand...

Taxation

Taxation   Reference library

W. Elliot Brownlee

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013
Subject:
Social sciences, Business and Management, Economics
Length:
3,810 words

...direct taxes, such as property taxes, to the states in proportion to their population, rather than to the value of their property. The First Tax Regime under the Constitution, 1789–1861.  The financial program of Alexander Hamilton, the first secretary of the treasury, established tariffs, set at low rates, as the major source of the federal government's revenue. Tariff revenues paid off the Revolutionary War debts and financed the Quasi-War with France in the late 1790s and President Thomas Jefferson's war against the Barbary pirates. Tariff revenues, in...

Business Growth and Decline

Business Growth and Decline   Reference library

Thomas K. McCraw

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013
Subject:
Social sciences, Business and Management, Economics
Length:
4,361 words

...had burst, beginning with the seventeenth-century Dutch tulip craze and continuing with the late 1990s Internet stock bubble. When the real estate bubble burst in 2008, it threatened to collapse the entire global financial sector, the United States’ included. The bubble burst had all the makings of another great crash and great depression on the order of that of the 1930s. In the United States, only prompt and financially generous intervention by the federal government and the Federal Reserve Board rescued major banks, insurance companies, and investment...

Trade Policy, Federal

Trade Policy, Federal   Reference library

Judith Stein

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
2013
Subject:
Social sciences, Business and Management, Economics
Length:
10,421 words

...the nation's major microeconomic policy initiative. Trade Policy of Ronald Reagan.  Carter's successor, Ronald Reagan, also believed in free trade. Initially Reagan thought that his domestic policies, mainly tax cuts, to stimulate the economy would reduce the foreign-trade deficit. Early on, Secretary of Transportation Drew Lewis argued that protection from the flood of Japanese imports would enable the auto industry to attract the capital it needed to convert to the manufacture of small cars. Secretary of State Alexander Haig and Secretary of the...

HIV/AIDS, Economics of

HIV/AIDS, Economics of   Reference library

The New Oxford Companion to Economics in India (3 ed.)

Reference type:
Subject Reference
Current Version:
2012

...AIDS , Manila, Asian Development Bank. Chandrasekaran P. , G. Dallabetta , V. Loo , S. Rao , H. Gayle , and A. Alexander . 2006. ‘ Containing HIV/AIDS in India: The Unfinished Agenda ’, Lancet Infectious Diseases, 6: 508–21. Das, Sanghamitra , Abhiroop Mukhopadhyay , and Tridip Ray . 2009. ‘Economic Cost of HIV and AIDS in India’, in Markus Haacker and Mariam Claeson (eds), HIV and AIDS in India: An Economic Development Risk , Washington DC, World Bank, pp. 123–54. Godbole, S. and S. Mehendale . 2005. ‘ HIV/AIDS Epidemic in India: Risk...

Gerschenkron, Alexander

Gerschenkron, Alexander   Reference library

The Oxford Encyclopedia of Economic History

Reference type:
Subject Reference
Current Version:
2005
Subject:
Social sciences, Economics
Length:
631 words

...History. In the words of the Memorial Minute presented to the Harvard faculty in 1987 , “He was one of the greatest historical economists of our time.” Bibliography Dawidoff, Nicholas . The Fly Swatter: How My Grandfather Made His Way in the World . New York, 2002. A biographical memoir of Gerschenkron's life and influence. Gerschenkron, Alexander . Economic Backwardness in Historical Perspective . Cambridge, 1962. Gerschenkron, Alexander . Continuity in History and Other Essays . Cambridge, 1968. McCloskey, D. N. If You're So Smart: The Narrative of...

Galt, Alexander Tilloch

Galt, Alexander Tilloch (1817–93)   Reference library

The Biographical Dictionary of American Economists

Reference type:
Subject Reference
Current Version:
2010
Subject:
Social sciences, Economics
Length:
923 words

...Alexander Tilloch ( 1817–93 ) Sir Alexander Tilloch Galt, one of the most prominent founders of the Dominion of Canada, was born in London on 6 September 1817 . He died in Montreal on 19 September 1893 . His father was the famous Scottish writer John Galt . In 1835 Galt came to the crown colony of Lower Canada, the future province of Quebec. Galt lived in the English settlement in the Eastern Townships of Quebec and rose through the ranks of the British American Land Company, which he came to head in 1844 . In 1837 , the French habitants of Lower...

Goldenweiser, Emanuel Alexander

Goldenweiser, Emanuel Alexander (1883–1953)   Reference library

The Biographical Dictionary of American Economists

Reference type:
Subject Reference
Current Version:
2010
Subject:
Social sciences, Economics
Length:
808 words

...the Immigration Commission, Census Bureau, and Department of Agriculture. His true career began, though, in 1919 when he joined the Federal Reserve Board. Beginning as a statistician, Goldenweiser rose through the agency to eventually become the Director of the Division of Research and Statistics by 1926 . He continued in his position as research director until 1945 . In his position he both witnessed and participated in the key monetary decisions before, during, and after the Great Depression. As director, Goldenweiser encountered the beginnings of the...

Seton, William

Seton, William (1673–1744)   Reference library

The Biographical Dictionary of British Economists

Reference type:
Subject Reference
Current Version:
2010
Subject:
Social sciences, Economics
Length:
618 words

..., probably at Edinburgh, and died there in 1744 . He was the eldest son of Sir Alexander Seton, Lord Pitmedden, a notable Scottish advocate and judge. Nothing his known of him until he became MP for Aberdeen in the Scottish parliament, taking over the seat once held by his father, in 1702 and holding it until the Union. He became known as one of the ‘country Whig’ party, equally opposed to Catholicism and corruption at Court, and was in favour of limiting the Power of the monarchy. He incurred the displeasure of William III on several occasions, and was...

Rickards, George Kettilby

Rickards, George Kettilby (1812–89)   Reference library

The Biographical Dictionary of British Economists

Reference type:
Subject Reference
Current Version:
2010
Subject:
Social sciences, Economics
Length:
421 words

...provide the means to overcome the Malthusian dilemma, says Rickards. The book is notable for the frequent references to foreign scholarship, outside the narrow tradition of British discussions of Malthus ; among the authorities Rickards cites are Frederic Bastiat, Alexander Hill Everett and Henry Carey. Apart from this, as an academic and teacher, Rickards made little impact. BIBLIOGRAPHY Remarks on the Laws relating to Attempts against the Person of the Sovereign (1842). Population and Capital (1854). The Financial Policy of War (1855). The House of...

Jamaica

Jamaica   Reference library

The Oxford Encyclopedia of Economic History

Reference type:
Subject Reference
Current Version:
2005
Subject:
Social sciences, Economics
Length:
1,963 words

...the tax base in the private sector shrank, forcing the government to resort to borrowing. The resulting growth of the public debt imposed a great burden on the economy. And the worldwide recession triggered by the sharp increase in oil in 1973 reduced export revenues. In response, the government, unable to reach an agreement with the bauxite companies, legislated a substantial increase in the levy on bauxite production to meet the higher cost of oil imports. But the balance of payments continued to worsen, forcing the government to seek assistance from the...

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