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The practical methodologies evolved over many years, and were largely the work of John Hall, a gunsmith from Portland, Maine, and inventor of the “Hall carbine” that became notorious when muckrakers dug into the youthful Pierpont Morgan’s dealings with Civil War procurement authorities.
Charles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
It’s the Land, Stupid: How the Homebuilder Cartel Drives High Housing Prices
Matt Stollerthebignewsletter.com
American trading houses, such as Russell & Company and Augustine Heard & Co. were engaged in their tea trading with the Chinese. They were run by business gurus such as the Forbes family and Warren Delano,[89] whose grandson became the President of the United States, Franklin Delano Roosevelt.
Changho Sohn • China Worldcraft: From Beijing: Four Concise Keywords of Chinese History You Need to Know to Deal with Chinese
Bid rigging produced extraordinary margins: in the late 1890s the companies collected $345–420 per ton of armor (a compromise after the Russia–Bethlehem embarrassment) against production costs of perhaps $150. With that kind of money at stake, what patriot could pass up the chance to defraud his fellow citizens?
Charles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
Society recovers only a tenth part of the property then. Is this owing to the generosity of him in whose possession it is found, or to the remissness of the officers of justice?
Henry David Thoreau • Walden (AmazonClassics Edition)
With no way to cover their shorts, firms up and down Wall Street faced bankruptcy, as did the banks who had been financing their positions; Harriman had no choice but to back off the fight, so Morgan and Schiff could unwind their positions and forestall a crash.
Charles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
The collection of manufacturing technologies developed by Hall, Blanchard, and, later, men like Thomas Warner and Cyrus Buckland at the Springfield Armory has been dubbed “Armory practice” by the historian David Hounshell, and was a key element in the American technologic gene pool. Merritt Roe Smith has traced the numerous skilled machinists who
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