Public Choice Analyses of American Economic History (eBook)

Volume 2

Joshua Hall, Marcus Witcher (Herausgeber)

eBook Download: PDF

2018 | 1st ed. 2018
IX, 178 Seiten
Springer International Publishing (Verlag)
978-3-319-95819-4 (ISBN)

Infos

This book - the second of two volumes- looks at episodes in American economic history from a public choice perspective. Each chapter discusses citizens, special interests, and government officials responding to economic incentives in both markets and politics. In doing so, the book provides fresh insights into important periods of American history, from the First Nationalist Movement of 1783 to the perpetual renewal of the Federal Reserve in 1927. This volume features the work of prominent economic historians such as Hugh Rockoff; well-known public choice scholars such as Joshua Hall and J.R. Clark; and younger scholars such as Marcus Witcher and Zachary Gocenour. This book will be useful for researchers and students interested in economics, history, political science, economic history, public choice, and political economy.

Joshua C. Hall is an associate professor of economics at West Virginia University and Director of the Center for Free Enterprise within the College of Business and Economics. He earned his bachelor and master degrees in economics from Ohio University and his Ph.D. from West Virginia University in 2007. Prior to returning to his alma mater, he was the Elbert H. Neese, Jr. Professor of Economics at Beloit College and an Economist with the Joint Economic Committee of the U.S. Congress. Hall is a past President of the Association of Private Enterprise Education. In addition to being a co-author on the widely-cited Economic Freedom of the World annual report, he is author of over 100 academic journal articles.

Marcus M. Witcher is a postdoctoral professor of history at West Virginia University. He earned his bachelor degree in history with a minor in economics from the University of Central Arkansas. He then received his masters and PhD in history from the University of Alabama. Marcus is currently revising his book manuscript Getting Right with Reagan: Conservatives and the Fortieth President, 1980-2016. He has published four peer-reviewed articles, six book reviews, and has presented his work at over ten academic conferences

Inhalt

Acknowledgements 6
Contents 7
Contributors 8
1 An Economic Analysis of the 1st Nationalist Movement of 1783 9
1.1 Introduction 10
1.2 The First ``Nationalist Movement,'' 1781 and 1783 11
1.3 Overview of the Methodology 13
1.4 Choosing the Nationalism Votes 14
1.5 Calculating NAT, the Voting Index Measure 16
1.6 The Deconstruction of NAT 21
1.6.1 State-Level Delegate Variables 21
1.6.2 Individual Delegate Variables 24
1.7 Results 25
1.8 Quantitative Measures of Nationalist Sentiment 27
1.9 Conclusion 32
References 32
2 After Johnny Came Marching Home: The Political Economy of Veterans' Benefits in the Nineteenth Century 35
2.1 Veterans' Benefits by War 36
2.2 What Explains the Level of Benefits? 37
2.3 Service Pensions for Veterans of the Antebellum Wars 39
2.4 Service Pensions: The Revolutionary War 42
2.5 Land Grants 49
2.6 Service Pensions: The War of 1812 and the Mexican War 54
2.7 Service Pensions: The Civil War 57
2.8 Some Tentative Generalizations 60
References 64
3 Asian Exclusion in American Immigration Policy 65
3.1 Introduction 65
3.2 Legislative History 67
3.3 Data 70
3.3.1 NOMINATE 71
3.4 Analysis 72
3.5 Concluding Remarks 74
References 75
4 The Political Economy of the Arbitration Act of 1888 77
4.1 Introduction 78
4.2 Legislative Activity 79
4.3 Determinants of Voting Behavior 82
4.3.1 Modeling Voting Behavior 82
4.3.2 Constituent Interests 83
4.3.3 Representative Self-Interest 88
4.4 The Voting Data 90
4.5 Econometric Modeling of Voting and Abstention Behavior 91
4.6 Estimation and Results 98
4.7 Examination of the Non-voting House Members 103
4.8 Conclusion 104
References 106
5 The Political Economy of Bank Entry Restrictions: A Theory of Unit Banking 107
5.1 Introduction 108
5.1.1 Entry Barriers in U.S. History 109
5.2 Theory 111
5.2.1 Branch Banking, Diversification, and Loan Pricing 111
5.2.1.1 Timeline of Events 112
5.2.1.2 Solution of the Model 113
5.2.2 Period 2: Lending Period 113
5.2.2.1 Type A Borrowers 114
5.2.2.2 Type B Borrowers 114
5.2.2.3 Unit Banks 116
5.2.2.4 Collateral and Credit Allocation 117
5.2.2.5 Branch Bank Behavior: Interest Rate Offers and Credit Allocation Across Regions 119
5.2.3 Analysis of Voting Period 121
5.3 Conclusions 123
Appendix 124
References 127
6 Partisanship and Electoral Reform: Change in Congressional Cohesion, 1877–1932 128
6.1 Introduction 128
6.2 Explanations for Partisan Decline in the `Golden Age of Party' 129
6.3 Hypotheses 132
6.4 Data 133
6.5 Analysis 136
6.6 Conclusion 143
References 144
7 The Economics and Politics of Unit Banking: Evidence from the McFadden Banking Bill of 1927 146
7.1 Introduction 146
7.2 Historical Background on the American Banking System, 1783 to 1926 147
7.3 The House Debate 151
7.4 The Senate Debate 156
7.5 The Conference Committee 161
7.6 The ABA, Lobbying, and the Passage of the McFadeen Banking Bill 166
7.7 Conclusion 170
References 172
8 Immigrant Ethnic Composition and the Adoption of Women's Suffrage in the United States 174
8.1 Introduction 174
8.2 Data and Empirical Approach 177
8.3 Empirical Results 179
8.4 Conclusion 182
Appendix 183
References 184

Produkt-Details

• Erscheint lt. Verlag: 4.10.2018
• Reihe/Serie: Studies in Public Choice
• Zusatzinfo: IX, 178 p. 17 illus., 5 illus. in color.
• Verlagsort: Cham
• Sprache: englisch
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre
• Schlagworte: Economic History • Economics • Electoral analysis • insurance • Political Economy • Public Choice
• ISBN-10: 3-319-95819-4 / 3319958194
• ISBN-13: 978-3-319-95819-4 / 9783319958194