The Review of Austrian Economics, 14:4, 353–362, 2001. c 2001 Kluwer Academic Publishers. Manufactured in The Netherlands. Book Reviews Howard Bodenhorn, A History of Banking in Antebellum America: Financial Markets and Economic Development in an Era of Nation-Building. Cambridge: Cambridge University Press, 2000. Xxi + 260 pp. Hardback $59.95, Paperback $22.95. Thank goodness, a book on antebellum American banking that is not primarily about banking policy (Jackson versus Biddle, state banking debates). Howard Bodenhorn instead explores topics that the textbooks have largely ignored: what kinds of business antebellum banks did, and how they contributed to economic growth and development. His monograph will be useful to anyone who teaches money and banking or the economic history of the United States. (I teach both, so I will ﬁnd it doubly useful.) Readers of this journal should note that Bodenhorn favorably cites Schumpeter on economic development, but does not draw on Austrian monetary or capital theory. The book is largely an integrated compilation of the author’s articles published over the last eight years. Bodenhorn (p. 23) rightly emphasizes that “banks can affect economic development either by increasing the pool of savings available to potential investors or by directing capital into more efﬁcient
The Review of Austrian Economics – Springer Journals
Published: Oct 6, 2004
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