The Wealth of Nations Rediscovered: Integration and Expansion in American Financial Markets 1780–1850
考察1780–1850年美国早期金融交易，揭示金融体系如何从殖民地时期的杂乱货币演变为支持经济增长的整合市场，对经济史和金融发展研究者有参考价值。
For decades economic historians have debated the sources of a gradual acceleration in the growth of per capita income that seems to have occurred in the United States over the half‐century following the adoption of the Federal Constitution in 1789. In this debate, internal improvements (i.e., turnpikes, roads and bridges), the expansion of commerce, and the rise of ‘agrarian capitalism’ have emerged as the traditional candidate explanations. It is only recently that financial development in general and the ‘Federalist Financial Revolution’ in particular have been properly recognised and quantified as engines that enabled these advances (Sylla 1998; Rousseau and Sylla 1999). In a new monograph, Robert E. Wright takes a detailed look at financial transactions from the early US national period (1780–1850) to show how the young nation evolved from relying upon an assortment of paper moneys and foreign coins in the colonial period to having a...