From its origins in the 1840s, Dallas developed quickly into a prosperous market town. After acquiring two railroads in the 1870s, the city became the commercial and financial center of North Central Texas. Early urban development featured competition and cooperation between the city’s business leadership, women’s groups, and coalitions formed by Populists, socialists, and organized labor. Notably, the city’s African Americans were marginalized economically and excluded from civic affairs. By the end of the 1930s, city building became more exclusive even for the white population. A new generation of business leaders threatened by disputes over Progressive Era social reforms and city planning, the revival of the Ku Klux Klan, and attempts to organize industrial workers used its control of local media, at-large elections, and repression to dominate civic affairs until the 1970s.
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Dallas
Patricia Evridge Hill
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Cold War in the American Working Class
Rosemary Feurer
The US working class and the institutional labor movement was shaped by anticommunism. Anticommunism preceded the founding of the Soviet Union and the Cold War, and this early history affected the later experience. It reinforced conservative positions on union issues even in the period before the Cold War, and forged the alliances that influenced the labor movement’s direction, including the campaign to organize the South, the methods and structures of unions, and US labor’s foreign policy positions. While the Communist Party of the USA (CP) was a hierarchical organization straitjacketed by an allegiance to the Soviet Union, the unions it fostered cultivated radical democratic methods, while anticommunism often justified opposition to militancy and obstructed progressive policies. In the hottest moments of the postwar development of domestic anticommunism, unions and their members were vilified and purged from the labor movement, forced to take loyalty oaths, and fired for their association with the CP. The Cold War in the working class removed critical perspectives on capitalism, reinforced a moderate and conservative labor officialdom, and led to conformity with the state on foreign policy issues.
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Financial Crises in American History
Christoph Nitschke and Mark Rose
U.S. history is full of frequent and often devastating financial crises. They have coincided with business cycle downturns, but they have been rooted in the political design of markets. Financial crises have also drawn from changes in the underpinning cultures, knowledge systems, and ideologies of marketplace transactions. The United States’ political and economic development spawned, guided, and modified general factors in crisis causation. Broadly viewed, the reasons for financial crises have been recurrent in their form but historically specific in their configuration: causation has always revolved around relatively sudden reversals of investor perceptions of commercial growth, stock market gains, monetary availability, currency stability, and political predictability. The United States’ 19th-century financial crises, which happened in rapid succession, are best described as disturbances tied to market making, nation building, and empire creation. Ongoing changes in America’s financial system aided rapid national growth through the efficient distribution of credit to a spatially and organizationally changing economy. But complex political processes—whether Western expansion, the development of incorporation laws, or the nation’s foreign relations—also underlay the easy availability of credit. The relationship between systemic instability and ideas and ideals of economic growth, politically enacted, was then mirrored in the 19th century. Following the “Golden Age” of crash-free capitalism in the two decades after the Second World War, the recurrence of financial crises in American history coincided with the dominance of the market in statecraft. Banking and other crises were a product of political economy. The Global Financial Crisis of 2007–2008 not only once again changed the regulatory environment in an attempt to correct past mistakes, but also considerably broadened the discursive situation of financial crises as academic topics.
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US Antitrust Law and Policy in Historical Perspective
Laura Phillips Sawyer
The key pieces of antitrust legislation in the United States—the Sherman Antitrust Act of 1890 and the Clayton Act of 1914—contain broad language that has afforded the courts wide latitude in interpreting and enforcing the law. This article chronicles the judiciary’s shifting interpretations of antitrust law and policy over the past 125 years. It argues that jurists, law enforcement agencies, and private litigants have revised their approaches to antitrust to accommodate economic shocks, technological developments, and predominant economic wisdom. Over time an economic logic that prioritizes lowest consumer prices as a signal of allocative efficiency—known as the consumer welfare standard—has replaced the older political objectives of antitrust, such as protecting independent proprietors or small businesses, or reducing wealth transfers from consumers to producers. However, a new group of progressive activists has again called for revamping antitrust so as to revive enforcement against dominant firms, especially in digital markets, and to refocus attention on the political effects of antitrust law and policy. This shift suggests that antitrust may remain a contested field for scholarly and popular debate.
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The Role of Congress in the History of US Foreign Relations
Clay Silver Katsky
While presidents have historically been the driving force behind foreign policy decision-making, Congress has used its constitutional authority to influence the process. The nation’s founders designed a system of checks and balances aimed at establishing a degree of equilibrium in foreign affairs powers. Though the president is the commander-in-chief of the armed forces and the country’s chief diplomat, Congress holds responsibility for declaring war and can also exert influence over foreign relations through its powers over taxation and appropriation, while the Senate possesses authority to approve or reject international agreements. This separation of powers compels the executive branch to work with Congress to achieve foreign policy goals, but it also sets up conflict over what policies best serve national interests and the appropriate balance between executive and legislative authority. Since the founding of the Republic, presidential power over foreign relations has accreted in fits and starts at the legislature’s expense. When core American interests have come under threat, legislators have undermined or surrendered their power by accepting presidents’ claims that defense of national interests required strong executive action. This trend peaked during the Cold War, when invocations of national security enabled the executive to amass unprecedented control over America’s foreign affairs.
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Lobbying and Business Associations
Benjamin C. Waterhouse
Political lobbying has always played a key role in American governance, but the concept of paid influence peddling has been marked by a persistent tension throughout the country’s history. On the one hand, lobbying represents a democratic process by which citizens maintain open access to government. On the other, the outsized clout of certain groups engenders corruption and perpetuates inequality. The practice of lobbying itself has reflected broader social, political, and economic changes, particularly in the scope of state power and the scale of business organization. During the Gilded Age, associational activity flourished and lobbying became increasingly the province of organized trade associations. By the early 20th century, a wide range at political reforms worked to counter the political influence of corporations. Even after the Great Depression and New Deal recast the administrative and regulatory role of the federal government, business associations remained the primary vehicle through which corporations and their designated lobbyists influenced government policy. By the 1970s, corporate lobbyists had become more effective and better organized, and trade associations spurred a broad-based political mobilization of business. Business lobbying expanded in the latter decades of the 20th century; while the number of companies with a lobbying presence leveled off in the 1980s and 1990s, the number of lobbyists per company increased steadily and corporate lobbyists grew increasingly professionalized. A series of high-profile political scandals involving lobbyists in 2005 and 2006 sparked another effort at regulation. Yet despite popular disapproval of lobbying and distaste for politicians, efforts to substantially curtail the activities of lobbyists and trade associations did not achieve significant success.
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Chile-US Relations
Patrick William Kelly
The relationship between Chile and the United States pivoted on the intertwined questions of how much political and economic influence Americans would exert over Chile and the degree to which Chileans could chart their own path. Given Chile’s tradition of constitutional government and relative economic development, it established itself as a regional power player in Latin America. Unencumbered by direct US military interventions that marked the history of the Caribbean, Central America, and Mexico, Chile was a leader in movements to promote Pan-Americanism, inter-American solidarity, and anti-imperialism. But the advent of the Cold War in the 1940s, and especially after the 1959 Cuban Revolution, brought an increase in bilateral tensions. The United States turned Chile into a “model democracy” for the Alliance for Progress, but frustration over its failures to enact meaningful social and economic reform polarized Chilean society, resulting in the election of Marxist Salvador Allende in 1970. The most contentious period in US-Chilean relations was during the Nixon administration when it worked, alongside anti-Allende Chileans, to destabilize Allende’s government, which the Chilean military overthrew on September 11, 1973. The Pinochet dictatorship (1973–1990), while anti-Communist, clashed with the United States over Pinochet’s radicalization of the Cold War and the issue of Chilean human rights abuses. The Reagan administration—which came to power on a platform that reversed the Carter administration’s critique of Chile—reversed course and began to support the return of democracy to Chile, which took place in 1990. Since then, Pinochet’s legacy of neoliberal restructuring of the Chilean economy looms large, overshadowed perhaps only by his unexpected role in fomenting a global culture of human rights that has ended the era of impunity for Latin American dictators.
