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  • Essay / John Steele Gordon's An Empire of Wealth - 978

    AuthorJohn Steele Gordon received his bachelor's degree in history from Vanderbilt University and then served on the staff of New York Congressmen Herman Badillo and Robert Garcia. In 1988, he published his first book, The Scarlet Woman of Wall Street, a history of Wall Street in the 1860s. He has published several other books dealing with various economic details of American history. His only qualifications for writing history books are his degree from Vanderbilt and over twenty years of writing on the same subject. However, the extensive bibliography at the end of the book indicates that he did indeed research the subject extensively. Scope of the Book The book is arranged chronologically, starting with the economic situation during the colonial period. It attempts to detail almost every economically significant event of the 21st century and ends after the terrorist attack of September 11, 2001. It is indeed a comprehensive history of the United States, but from a strictly economic. highlights all the economic success that the United States has experienced during its relatively brief existence. Gordon downplays many economic downturns, such as the Great Depression. Instead, he focuses on impressive statistics showing what a completely dominant force the United States is. For example, he claims that with only 6% of the world's land mass, the United States accounts for about 30% of the world's GDP. Furthermore, he covers his facts with layers of hyper-specific numbers. For example, Gordon cites figures to the nearest million. “The government has never spent more in one year than the $746 million it spent in 1915.” Point of view or bias...... middle of paper ...... the first 150 or so pages are topics I covered recently in a history class and made the points economic very predictable. However, the latter parts of the book piqued my interest, particularly the parts on wartime economics. List of interesting quotes, lines and facts1. Eli Whitney had to fight for a long time to obtain his patent on Cotton Gin. He ended up only getting $100,000. (Page 85)2. “Gold is a strange thing.” (Page 180)3. “No great war has ever broken out so unexpectedly or for such insignificant reason as the First World War” (page 285)4. In 1940 the GNP was $99.7 billion and in 1945 it was $211.9 billion. It has increased by 56.3% in 5 years. (Page 357)5. “While war gave birth to the computer, the computer profoundly changed the nature of war” (page 413) Works Cited Gordon, John Steele. An empire of wealth. 2004.