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Rating:  -
This is simply, a superb book. I thought I knew about American history, but many of the articles in the book really opened my eyes. The author explodes a number of myths, including the underlying reasons for the Great Depression.
What saddens my is that this type of history is not being taught to our children. That is why I suggest that every American should read this book. Wouldn't be bad to have the ideas and history televised in the same way as "Free To Choose".
Hmmm, come to think of it, this book should be required reading for all Europeans who tell us how horrible we are to be Americans. It is very uplifting.
Rating:  -
Gordon's intent is to present an accessible yet highly informative history of American business and in this effort he largely succeeds. I especially enjoyed this book because I have a strong interest in American history but am far from an expert in economics matters. Yet Gordon was able to educate me on issues such as the gold standard vs free silver debate of the late 19th century. He writes in a clear, simple prose that enables potentially complicated subjects to become more understandable to the lay reader. Basically, I learned more from this book than any other I have read so far this year.
But Gordon is a pro-business conservative and his writings are clearly a celebration of America's financial and technological truimphs without much interest in the shortcomings of our especially "individualistic" form of capitalism. For example, he hardly mentions the environmental degradation often caused by unregulated business practices or the extreme inequalities of wealth and poverty that exist in our nation.
Still Gordon is far from a dogmatic thinker and he does provide criticism about the excesses of unregulated capitalism when he considers it appropriate. For example, he makes a convincing case that Andrew Jackson's decision to close the central bank was a disaster that led to numerous financial panics and economic downturns until the establishment of the Federal Reserve System in 1913.
Yes, Gordon is a bit biased and perhaps too celebratory about the virtues of American business. But still the book is very well written and offers so much useful knowledge that it deserves to be read.
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An Empire of Wealth - The Epic History of American Economic Power, by John Steele Gordon, is a marvelous one volume narrative on the economic history of the United States. While Gordon's work is clearly not ground breaking in terms of research, he synthesizes four hundred years of progress into a very readable and even entertaining book. Writing anything on this topic in such a fashion is clearly a challenge and one the author certainly aces.
Gordon writes about the root causes and pivotal events, inventions and American ingenuity that propelled the economy upward. He also handles the precipitants of economic downturns and depressions very concisely. His ability to put into context many statistics is something that more academic writers could learn from. The book is loaded with "gems". Include are: "Considered as a `public work,' the GI Bill proved to be the Erie Canal of the new, postindustrial economy that was then, quite unrecognized, coming into being". On capitalism and industry (with specific regard to Standard Oil), "Monopolies, like everyone else, want to maximize their profits, not their prices. Lower prices, which increase demand, and increased efficiency, which cuts costs, is usually the best way to achieve the highest possible profits". Gordon also handles the political aspects of all periods very well with valid criticisms of Jefferson and Jackson and insightful writing on Hoover, Roosevelt and Reagan. While he is obviously a free market thinker it does not cloud his reasoning about the need for a central bank, missing after Jackson disbanded the Bank of the United States. He also notes Keynes "General Theory" and the role for government spending in a depressed economy.
The reader is given a bibliography of some great books about American history that, while largely not academic in nature, are intellectually stimulating and allow for further reading on a topic that perhaps was covered in this book in less detail than might have been desired. This is a very well written and fascinating read. If a reader has any interest at all in this topic, it is very much a must read.
Rating: -
This is a marvelous history book which I enjoyed a lot. Besides,it is beautifully written and never dull. By reading this book, I was able to fathom America's economic might. Amid praise, I have to say that I object certain comments made throughout the book by Mr. Gordon because, more than fact, they seem to convey his bias as a deeply conservative thinker. Nevertheless, the story that evolves through the pages of this book is truly an epic. This book manages to be informative and entertaining at the same time. The book itself is easy to read (close to double space between lines) and has a handsome cover. I am looking forward to read other books authored by Mr. Gordon.
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One of my favorite books I read was "The Great Game" by John Steele Gordon
which is the reason why I bought this book, it was very informative but it got me upset a lot for some reason that I haven't been able to identify yet
I had to quit reading it with 75 pages left
It would be a great book if I were a Capitalist which I am not, I think I got really angry because I was reading about how Capitalism really is I did learn a lot about my country though which is more saddening than anything though
1. money-stock market and corporations
2. beauty-Hollywood and whores
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