1.

Record Nr.

UNINA9910255053403321

Autore

Lu Qian

Titolo

From Partisan Banking to Open Access : The Emergence of Free Banking in Early Nineteenth Century Massachusetts / / by Qian Lu

Pubbl/distr/stampa

Cham : , : Springer International Publishing : , : Imprint : Palgrave Pivot, , 2017

ISBN

9783319676456

3319676458

Edizione

[1st ed. 2017.]

Descrizione fisica

1 online resource (XXVIII, 189 p. 47 illus., 45 illus. in color.)

Collana

Palgrave Studies in Economic History, , 2662-6500

Disciplina

330.9

Soggetti

Economic history

Finance

History

International economic relations

Macroeconomics

Financial services industry

North America - Economic conditions

Economic History

Financial History

International Political Economy'

Macroeconomics and Monetary Economics

Financial Services

North American Economics

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Nota di bibliografia

Includes bibliographical references and index.

Nota di contenuto

Chapter 1: Was the U.S. Born Modern? -- Chapter 2: The History of Partisan Banking -- Chapter 3: Empirical Studies on Bankers, Legislators, and Political Parties, 1790-1859 -- Chapter 4: Empirical Studies on Political Connection of Suffolk Legislators, 1790-1859 -- Chapter 5: Empirical Studies on Bankers' Wealth and Bank Balance Sheets -- Chapter 6: An Intra-Elite Explanation of Open Access -- Chapter 7: Conclusion: Democracy, Civil Society, Elites, and Impersonal Rules.



Sommario/riassunto

How did banking in early nineteenth-century Massachusetts evolve? Lu provides a compelling narrative about the connection between inclusive political systems and open access economies, hypothesizing that entry into banking was firstly made upon partisan grounds before later becoming open access/free entry. Lu investigates state level institutional change and studies the transition to open access from an economic perspective. What was the relationship between banking and political elites? Why were elites, who enjoyed privileges under dominant institutions, willing to dissolve these institutions and eliminate their privileges? The author provides new insights into American economic history, explaining how a society moves from limited access to one of openness.