A collection of essays on class politics in America
In popular retellings of American history, capitalism generally doesn’t feature much as part of the founding or development of the nation. Instead, it is alluded to in figurative terms as opportunity, entrepreneurial vigor, material abundance, and the seven-league boots of manifest destiny.
In this collection of essays, Steve Fraser, the preeminent historian of American capitalism, sets the record straight, rewriting the arc of the American saga with class conflict center stage and mounting a serious challenge to the consoling fantasy of American exceptionalism. From the colonial era to Trump, Fraser recovers the repressed history of debtors’ prisons and disaster capitalism, of confidence men and the reserve armies of the unemployed. In language that is dynamic and compelling, he demonstrates that class is a fundamental feature of American political life and provides essential intellectual tools for a shrewd reading of American history.
Steve Fraser is an author, an editor, and a historian whose many publications include the award-winning books Labor Will Rule: Sidney Hillman and the Rise of American Labor and Every Man a Speculator: A History of Wall Street in American Life. He is senior lecturer at the University of Pennsylvania and cofounder of the American Empire Project, Metropolitan Books. He has written for the New York Times, the Los Angeles Times, the Nation, and the American Prospect.
How not to open a book: an introduction that’s more than 10% of the total book length, then opening with the second longest and least compelling essay.
The writing style is loquacious; the focus on key individuals over policy makes it often read as American history through the great man theory. The most interesting sections are about convict labor, riots, unions, and mass class movements, not specific industrialists.
Would not necessarily recommend, but the analysis is fine and I have no issue with the conclusions. Instead, I’d recommend The America Empire Project, which the author co-founded.
This collection of essays is a must read for anyone interested in the story of capitalism and history of unions and collective action. I found the essays in the first two parts much more compelling and fascinating reads than the last part (although who isn't tired reading about Trump?), and I very much enjoyed the essay about monetizing natural disasters. It is a poignant look at economics and society in general.