FROM THE PUBLISHER

What role did economics play in leading the United States into the Civil War in the 1860s, and how did the war affect the economies of the North and the South? Tariffs, Blockades, and Inflation uses contemporary economic analyses such as supply and demand, modern market theory, and the economics of politics to interpret events of the Civil War.

Simplifying the sometimes complex intricacies of the subject matter, Thornton and Ekelund have penned a nontechnical primer that is jargon-free and accessible. Tariffs, Blockades, and Inflation also takes a comprehensive approach to its topic. It offers a cohesive and a persuasive explanation of the how, what, and why behind the many factors at work on both sides of the contest. While most books only delve into a particular aspect of the war, this title effectively bridges the gap by offering an all-encompassing, yet relatively brief, introduction to the essential economics of the Civil War.

This book starts out with a look at the reasons for the beginning of the Civil War, including explaining why the war began when it did. It then examines the economic realities in both the North and South. Also covered are the different financial strategies implemented by both the Union and the Confederacy to fund the war and the reasons behind what ultimately led to Southern defeat. Finally, the economic effect of Reconstruction is discussed, including the impact it had on the former slave population.

Thornton and Ekelund have contributed an overdue examination of the Civil War that will impart to readers a modern way to better comprehend the conflict. Tariffs, Blockades, and Inflation offers fresh, penetrating insights into this pivotal event in American history.

SYNOPSIS

Thornton (senior fellow, Ludwig Von Mises Institute) and Ekelund (economics, Auburn U.) introduce concepts from contemporary economic theory and apply them to the history of the American Civil War. Sidestepping the question of slavery, they primarily on questions of the Northern blockade, inflation, tariffs, and their impacts, describing, for example, how the fixed prices imposed by running the blockade caused relatively lower relative costs for luxury goods, thereby encouraging runners to concentrate on bringing luxuries into the progressively poorer South (dubbed the "Rhett Butler Effect" by the authors). Annotation ©2004 Book News, Inc., Portland, OR

WHAT PEOPLE ARE SAYING