I just finished the long but comprehensive economic history of the United States by Jonathan Levy, Ages of American Capitalism. If you want a review of economic history in the Unites States, this is the one book that should be on your reading list. I may have some issues with the interpretation of events by Levy especially since the 1920's where I have spent more time reviewing the history, but the depth of this work cannot be denied. The work breaks US economic history into four parts or ages. It stops with the 2008 Great Financial Crisis, but we can say that the Age of Chaos continues as we feel our way through deciding what is the proper level of regulation, innovation and change for the current era. The four ages are:
The Age of Commerce spans the colonial era through the outbreak of the Civil War and describes how the US moved from a colony to growing emerging country.
The Age of Capital traces the impact of the industrial revolution as it shapes the US economy. The volatility of the Age of Capital with labor strife, recessions and the growth of big business ultimately led to the Great Depression.
The Age of Control as a response to the Great Depression during which the government took on a more active role in the economy to solve the Depression and respond to WWII.
The Age of Chaos came upon the US as deregulation and the growth of the finance industry created a booming economy for those in finance but also significant inequalities and a lack of oversight that created the environment for the crash of 2008.
This book provides a good a good framework for thinking about US economic development and should serve as a background for thinking about business history.
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