This book takes a giant step out of conventional thinking, and proceeds to establish the inseparable connection that exists between the American Family and capitalism. Too often, answers to the critical questions of American family decay are sought separately from the interdependent history it shares with the economic system in which it takes place. By choosing to end our search for cause within the effect of American family decay, and by using this new freedom of inquiry, we can return to a time in our history when the American family was free of the great troubles it is undergoing today. By doing so, it is possible to discover at what point the fabric of the American family began to unravel. Once we see when the problem began and what caused it, this makes it possible to take individual and collective action to change and reproduce the American family anew, exclusive of violence and war.

This book takes a giant step out of conventional thinking, and proceeds to establish the inseparable connection that exists between the American Family and capitalism. Too often, answers to the critical questions of American family decay are sought separately from the interdependent history it shares with the economic system in which it takes place. By choosing to end our search for cause within the effect of American family decay, and by using this new freedom of inquiry, we can return to a time in our history when the American family was free of the great troubles it is undergoing today. By doing so, it is possible to discover at what point the fabric of the American family began to unravel. Once we see when the problem began and what caused it, this makes it possible to take individual and collective action to change and reproduce the American family anew, exclusive of violence and war.

Since the 18th Century, Americans have engaged in the pursuit of happiness through the consumption of material things. It is written in the Preamble to the U.S. Constitution that Americans have a right to life, liberty, and the pursuit of happiness. Interestingly, the pursuit has resulted in suicide for more white males 65 years old and over than any other age group. Louisiana is the second most unhealthiest state in America, and 40 million Americans live without any health insurance. These signs of unhappiness have continued to evolve over time. By 1950, Americans produced $43.7 billion worth of manufactured goods, and by 1958, $141 billion. The average annual salary for males was $2,831 in 1958; $1,559 for females. During this time, the American household was classified as husband-wife. In 1920, 86.0 percent were husband-wife; by 1960, this percent declined to 70.0 percent. Divorce accelerated by 1960. During the 1950s, the husband-wife household was already rapidly giving way to a new form-"Single-Parent." If this pursuit of happiness through object consumption is working, then, the reverse would be true. To grasp the social decay occurring in American society today, it is essential to understand the 1920 to 1960 period.

A leading economic historian traces the evolution of American capitalism from the colonial era to the present—and argues that we’ve reached a turning point that will define the era ahead. “A monumental achievement, sure to become a classic.”—Zachary D. Carter, author of The Price of Peace In this ambitious single-volume history of the United States, economic historian Jonathan Levy reveals how capitalism in America has evolved through four distinct ages and how the country’s economic evolution is inseparable from the nature of American life itself. The Age of Commerce spans the colonial era through the outbreak of the Civil War, and the Age of Capital traces the lasting impact of the industrial revolution. The volatility of the Age of Capital ultimately led to the Great Depression, which sparked the Age of Control, during which the government took on a more active role in the economy, and finally, in the Age of Chaos, deregulation and the growth of the finance industry created a booming economy for some but also striking inequalities and a lack of oversight that led directly to the crash of 2008. In Ages of American Capitalism, Levy proves that capitalism in the United States has never been just one thing. Instead, it has morphed through the country’s history—and it’s likely changing again right now. “A stunning accomplishment . . . an indispensable guide to understanding American history—and what’s happening in today’s economy.”—Christian Science Monitor “The best one-volume history of American capitalism.”—Sven Beckert, author of Empire of Cotton

Most US historians assume that capitalism either “came in the first ships” or was the inevitable result of the expansion of the market. Unable to analyze the dynamics of specific forms of social labour in the antebellum US, most historians of the US Civil War have privileged autonomous political and ideological factors, ignoring the deep social roots of the conflict. This book applies theoretical insights derived from the debates on the transition to capitalism in Europe to the historical literature on the US to produce a new analysis of the origins of capitalism in the US, and the social roots of the Civil War. Winner of the Paul Sweezy Marxist Sociology Book Award 2013 Short-listed for the 2011 Isaac and Tamara Deutscher Memorial Prize.