Bücher von Robert E. Wright

This book portrays the development of a modern financial sector as the driving force behind America's economic transition from agricultural colony to industrial juggernaut. Wright applies the economic theory of information asymmetry to understandings of early US financial development, expanding on recent scholarship of finance-led economic growth.

Robert Wright argues that the ultimate causes of American economic development and transformation into a modern society can be reduced to the causes of American commercial banking. Wright analyzes why American banking arose when, and with the particular characteristics, it did.

This ground-breaking book adds an economic angle to a traditionally moral argument, demonstrating that slavery has never promoted economic growth or development, neither today nor in the past.

This text uses modern financial theories to look at old problems in early American republic historiography from new perspectives. Concepts such as information asymmetry, portfolio choice and principal-agent dilemmas open up scholarly vistas.