8 épisodes

Mark Thornton, coauthor of Tariffs, Blockades and Inflation: The Economics of the Civil War, offers a series of seven lectures, presented to the Auburn University Academy for Lifelong Learners, hosted at the Mises Institute.Download the complete audio of this event (ZIP) here.

The Economics of the Civil War Mises Institute

    • Podcasts

Mark Thornton, coauthor of Tariffs, Blockades and Inflation: The Economics of the Civil War, offers a series of seven lectures, presented to the Auburn University Academy for Lifelong Learners, hosted at the Mises Institute.Download the complete audio of this event (ZIP) here.

    8. The Civil War and the Growth of Government

    8. The Civil War and the Growth of Government

    Black reconstruction after the Civil War did much better than the dire predictions made. The black population recovered quickly. Many moved to urban areas. They deliberately had fewer children. Mortality declined. Income increased. No government assistance was handed out.

    7. The Cost and Consequences of the Civil War

    7. The Cost and Consequences of the Civil War

    There was a sea change in money and banking in the U.S. as a result of the Civil War. Government became the primary regulator. Metal coins gave way to paper. Mistakes of one bank infected others – it was contagion.

    6. Inflation: North and South

    6. Inflation: North and South

    Inflation is a giant rip off, a stealth tax stealing purchasing power. Money is not neutral. The first receivers of new money benefit. Savers and those on fixed incomes struggle. From 1857 until the war was a period of “free banking” where the fed had nothing to do with the banks and the states had little control over them. High economic growth and prosperity prevailed.

    5. Confederate Blockade of the South

    5. Confederate Blockade of the South

    The Confederate government blockaded the Southern economy by bad policies like impressment and trying to run the blockade themselves. The government declared that fifty percent of all cargo space had to be for the Confederate government.

    4. The Rhett Butler Effect

    4. The Rhett Butler Effect

    Blockade boat owners turned to engines for speed instead of sails. Blockade running became more expensive as the blockade became stricter. Certain prices increased much faster and higher.  Most goods desired in the South had to be imported. 

    3. The Union Blockade and Southern Strategy

    3. The Union Blockade and Southern Strategy

    Tariffs were generally favorable for the North and unfavorable for the South. They were a key political battle for forty years. The Union General Scott developed the anaconda plan to squeeze the breath out of the South. The Union Blockade was the first part of that plan. This battle at sea won the war for the Union. The land battle was a stalemate. 

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