Donald J. Trump has sparked some soul- searching among US historians: has this happened before? Does it mean America has changed? Cue the self-laceration, cue the book deals. Two impressive volumes illustrate both agreement and disagreement, both concurring that America represents the search for something — but the jury’s out as to precisely what.
Capitalism in America: A History is by an Economist writer (Adrian Wooldridge) and a former chair of the Federal Reserve (Alan Greenspan), so you can guess where they’re coming from. The book celebrates the American thirst for self-improvement and argues that the country has long benefited from a ‘creative destruction’ driven by the market and entrepreneurs.
Here’s the story. In the beginning, America was a frontier, rich in natural resources and conquered by businessmen: Alexis de Tocqueville wrote: ‘I know of no country, indeed, where wealth has taken a stronger hold on the affections of men… the entire society is a factory.’
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