America Between the Civil War and the 20th Century: 1865 to by Jeff Wallenfeldt, Britannica Educational Publishing

By Jeff Wallenfeldt, Britannica Educational Publishing

The newly reunified usa skilled a tenuous peace following the yank Civil warfare. It was once a interval characterised by way of nice technological advances, but in addition through elevated political, fiscal, and social polarization. This penetrating examine American background among the Civil warfare and twentieth century comprises firsthand bills that display the existing ideologies of the time and make clear major humans and occasions.

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Before the 1920s, Nicholas finds, investors’ valuations of companies were largely determined by their investments in physical capital. During the 1920s, however, investors appear to have increased their appreciation for firms’ investments in intellectual capital as well. Using the number and significance (gauged by citations) of firms’ patented inventions as a measure, Nicholas estimates that intellectual capital rose from a minuscule fraction of the stock market valuation of firms to roughly 40 percent during the 1920s.

And Kenneth L. Sokoloff. 1999c. ’’ In Naomi R. Lamoreaux, Daniel M. G. , Learning by Doing in Markets, Firms, and Countries (19–57). Chicago: University of Chicago Press. , and Kenneth L. Sokoloff. 2001. ’’ American Economic Review 91, 39–44. , and Kenneth L. Sokoloff. 2003. S. ’’ In Stanley L. , Finance, Intermediaries, and Economic Development (209–246). Cambridge: Cambridge University Press. , and Kenneth L. Sokoloff. 2005. ’’ Working paper W11654, NBER, Cambridge, Mass. Lerner, Josh. 2001.

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