CURRICULUM VITAE
(January 2014)
RICHARD SYLLA
OFFICE
Dept. of Economics, KMC 8-65
Stern School of Business
New York University
44 W. 4th Street
New York, NY 10012-1126
(212) 998-0869
Fax (212) 995-4218
email [email protected]
PERSONAL DATA
Born at Harvey, Illinois
Married, two children, six grandchildren
EDUCATION
A.B. Summa Cum Laude, Harvard University, 1962.
Indian Statistical Institute, Calcutta, 1962-63 (Rotary scholar).
A.M., Harvard University, 1965.
Ph.D., Harvard University, 1969.
ACADEMIC AND RESEARCH POSITIONS
Current
Henry Kaufman Professor of the History of Financial Institutions and
Markets and Professor of Economics, New York University, 1990 Research Associate, National Bureau of Economic Research, 1983- .
.
Previous
Teaching Fellow in Economics and Social Studies, 1967-68, Harvard
University.
Professor of Economics and Business, 1968-90; Associate head, Division of
Economics and Business, 1987-89, North Carolina State University.
Visiting Assistant Professor of Economics, Harvard, Summer 1969.
Senior Associate Member, St. Antony's College, Oxford University, UK,
1975-present (in residence 1975-76).
Editor, Journal of Economic History, 1978-1984.
Visiting Professor of Economics, University of Pennsylvania, Spring 1983.
Visiting Professor of Economics, University of North Carolina at Chapel
Hill, Spring 1988
HONOR SOCIETIES
Omicron Delta Epsilon, Harvard, elected 1961.
Phi Beta Kappa, Harvard, elected 1962.
Wake County (North Carolina) Phi Beta Kappa Association, 1968-90. Executive
Committee, 1971-72 1987-88; Vice President, 1972-73; President, 1973-74;
Membership Chairman, 1983-84, Executive Committee, 1987-88.
PROFESSIONAL MEMBERSHIPS, OFFICES, ETC.
American Economic Association.
Southern Economic Association. Elected Vice President, 1982.
Economic History Association. Nominating Committee, 1970-71; Program
Committee, 1973-74; Ex officio trustee, 1978-84. Elected trustee
1984-88. Elected Vice President, 1987-88. Investment Committee, 199095, 1999- . President-elect, 1999-2000. President, 2000-2001.
Economic History Society (UK).
Social Science History Association.
Business History Conference. Elected trustee, 1991-94, 2002-04.
President-elect, 2004-05. President, 2005-06.
Cliometrics Society. Elected trustee, 1997-2000; elected chair of board of
trustees, 1998-99, 1999-2000; Fellow, 2013.
European Economic History Association.
Trustee, Museum of American Finance (Smithsonian Affiliate), 2002- ; Vice
Chairman of Board of Trustees, 2007-10; Chairman, 2010- .
Member, Academic Advisory Board, European Association for Banking and
Financial History, 2005-09.
FELLOWSHIPS, PROFESSIONAL AWARDS, AND GRANTS
Harvard College Honorary Scholarship, 1958-62.
Rotary International Scholarship, 1962-63.
Harvard Graduate Fellowship, 1963-65; Teaching Fellowship, 1964-68;
Economic History Fellowship, 1965-68.
Arthur H. Cole Prize, Economic History Association, 1970.
National Endowment for the Humanities, Fellowship for Independent Study and
Research, 1975-76.
Mini Grant for Teaching Effectiveness, North Carolina State University,
1977.
ACLS Overseas Travel Grant, 1978 (United Kingdom), 1982 (Hungary).
National Endowment for the Humanities, Summer Research Fellowship, 1980.
National Bureau of Economic Research, research grants, 1982-present.
National Science Foundation grant, "Economics of State and Local
Government...1790-1980," 1985-87. (Administered by National Bureau of
Economic Research; $132,840.)
National Science Foundation grant, "Economics of State and Local
Government...1790-1980," 1987-89. (Administered by National Bureau of
Economic Research; $140,000.)
National Science Foundation grant, "Economics of State and Local
Government...1790-1980," 1989-91. (Administered by National Bureau of
Economic Research; $169,456.)
National Science Foundation grant, "Economics of State and Local
Government...1790-1980," 1991-94. (Administered by National Bureau of
Economic Research; $232,609.)
Citibank Award for Excellence in Teaching, Stern School, NYU, May 1994.
Alfred P. Sloan Foundation grant, "Financial Innovation in U.S. History,",
1995-97. (Administered by National Bureau of Economic Research;
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$114,000.)
National Science Foundation grant, "America's First Securities Markets,
1787-1836: Emergence, Development, Integration," 1998-2002.
(Administered by NBER; $182,246.)
Fellow, Charles Warren Center for Studies in American History, Harvard,
2003-04.
Berkley Center/Kauffman Foundation research grant, Stern, NYU, 2005NYU University Research Challenge Fund grant, 2006-06.
National Science Foundation grant, “U.S. Corporate Development, 1801-1860,”
2008-10. (Administered by National Bureau of Economic Research;
$297,363.)
Lifetime Achievement Award, Business History Conference, March 2011.
Appointed member of Federal Reserve System’s Centennial Advisory Council,
Fall 2011.
American Academy of Arts & Sciences, elected Fellow, 2012
Cliometric Society, elected Fellow, 2013
PUBLICATIONS, AND OTHER PROFESSIONAL ACTIVITIES
A.
BOOKS
The American Capital Market, 1846-1914 (New York: Arno Press, 1975).
Evolution of the American Economy: Growth, Welfare, and Decision-Making
(New York: Basic Books, 1980). Co-authors: Sidney Ratner and James H.
Soltow. Second edition (New York: Macmillan, 1993).
A History of Interest Rates, 3rd ed. (New Brunswick, NJ: Rutgers
University Press, 1991), Italian translation, 1994; 3rd ed. revised
(1996); 4th ed. (John Wiley & Sons, 2005); Korean translation, 2011.
Co-author: Sidney Homer.
Patterns of European Industrialization: The Nineteenth Century (London:
Routledge, 1991). Co-editor: Gianni Toniolo.
Anglo-American Financial Systems: Institutions and Markets in the
Twentieth Century (Burr Ridge, IL: Irwin Professional Publishing, 1995).
Co-editor: Michael D. Bordo
The State, the Financial System, and Economic Modernization (Cambridge:
Cambridge University Press, 1999). Co-editors: Richard Tilly and
Gabriel Tortella. Translated into Chinese and published in China, 2002.
History of Corporate Finance: Development of Anglo-American Securities
Markets, Financial Practices, Theories and Laws (London: Pickering &
Chatto, 2003), 6 vols. Robert E. Wright, ed., Richard Sylla, advisory ed.
and author of preface, vol. 1, ix-xi. A compilation of classic historical
works on corporate finance.
Founding Choices: American Economic Policy in the 1790s (Chicago:
University of Chicago Press, 2011). Co-editor: Douglas A. Irwin.
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B.
JOURNAL ARTICLES AND CHAPTERS
"Finance and Capital in the United States, 1850-1900," Journal of Economic
History, (December 1967), 621-24.
"La `New Economic History'--Metodi, Obiettivi, Limiti," Quaderni Storici
delle Marche, 11 (Maggio-Agosto 1969), 229-264 (with Gianni Toniolo).
Republished in Lo Sviluppo Economico Italiano 1861-1940, G. Toniolo, ed.
(Roma-Bari: Laterza, 1973), 41-70.
"Federal Policy, Banking Market Structure, and Capital Mobilization in the
United States, 1863-1913," Journal of Economic History, 29 (December
1969), 657-686. Reprinted in Robert Whaples and Dianne C. Betts, eds.,
Historical Perspectives on the American Economy (1995), 482-508.
"The United States, 1863-1913," in Rondo Cameron, ed., Banking and
Economic Development: Some Lessons of History (New York, Oxford
University Press, 1972), Chapter VIII, 232-262.
"American Banking and Growth in the Nineteenth Century: A Partial View
of the Terrain," Explorations in Economic History, 9 (Winter 1971-72),
197-227.
"Seeking Optimum Profit Production Decisions," The American Association
of Petroleum Geologists Bulletin, 58 (January 1974), 133-138 (with
Victor V. Cavaroc).
"Forgotten Men of Money: Private Bankers in Early U.S. History," Journal
of Economic History, 36 (March 1976), 173-188.
"Financial Intermediaries in Economic History: Quantitative Research on
the Seminal Hypotheses of Davis and Gerschenkron," in R. Gallman, ed.,
Recent Developments in the Study of Business and Economic History
(Greenwich CN: JAI Press, 1977), 55-80.
"Small-Business Banking in the United States, 1780-1920," in Stuart
Bruchey, ed., Small Business and American Life: A History (New York:
Columbia University Press, 1980).
"The Changing Nature of American Public Debt, 1690-1835," in La Dette
Publique aux XVlle et XIXe Siecles son Developpement sur le Plan Local,
Regional et National (with John A. James), Colloque InternationalInternational Colloquium, Spa 12-16 IX 1978 Actes-Handelingen
(Brussels, 1980), 243-272.
"Monetary Innovation in America," Journal of Economic History, 42 (March
1982), 21-30.
"Monetary Innovation and Crises in American Economic History," in Paul
Wachtel, ed., Crises in the Economic and Financial Structure (Lexington
MA: D.C. Heath, 1982), 23-40.
4
"American Banks and the Finance of Industry, 1880-1920: Perspectives on
the Visible Hand," Eighth International Congress of Economic History,
in V.I. Boykin, ed., Transformation of Bank Structures in the
Industrial Period (Budapest: Akademiai Kiado, 1982), 43-51. Reprinted
in Rondo Cameron, ed., Financing Industrialization (Cambridge: Edward
Elgar, 1992), vol. 2, 253-61.
"Early American Banking: The Significance of the Corporate
Form,"Business and Economic History, Second Series, 14 (1985),
105-123.
"Long-Term Trends in State and Local Finance: Sources and Uses of Funds
in North Carolina, 1800-1977," in Stanley L. Engerman and Robert E.
Gallman, eds., Long-Term Factors in American Economic Growth (Chicago:
University of Chicago Press, 1986), 819-68.
"Banks and State Public Finance in the New Republic, 1790-1860,"Journal
of Economic History 47 (June 1987), 391-403. Co-authors: John B.
Legler and John J. Wallis.
"The Autonomy of Monetary Authorities: The Case of the U.S. Federal
Reserve System" in Gianni Toniolo, ed. Central Banks' Independence in
Historical Perspective (Berlin and New York: Walter de Gruyter,
l988),l7-38. Italian version: "L'autonomia della banca centrale:
il caso del Federal Reserve System negli Stati Uniti," in Donato
Masciandaro and Sergio Ristuccia, eds., L'autonomia delle banche
centrali (Milan: Edizioni Comunita, 1988), 9-33.
"U.S. City Finances and the Growth of Government, 1850-1902,"Journal of
Economic History 48 (June 1988), 347-56. Co-authors: J. B. Legler
and J. J. Wallis
"Financial Market Panics and Volatility in the Long Run, 1830-1988,"
Eugene N. White, ed., Crashes and Panics: The Lessons of History
(New York: Dow-Jones Irwin, 1990). Co-authors: J. W. Wilson and C.
P. Jones. Reprinted in Michael Bordo, ed., Financial Crises
(Cambridge: Edward Elgar, 1992).
"Patterns of European Industrialization during the Nineteenth Century,"
in Sylla and Toniolo, eds., Patterns of European Industrialization
(1991), 1-28. Co-author: Gianni Toniolo.
"The Role of Banks," in Sylla and Toniolo, eds., Patterns of European
Industrialization (1991), 45-63.
"U.S. Banks in International Finance," in Rondo Cameron and V. I.
Bovykin, eds., International Banking, 1870-1914 (New York: Oxford
University Press, 1992), 48-71. Co-author: Vincent Carosso.
"Should We Reregulate the Banks," in Donald McCloskey, ed., Second
Thoughts: Myths and Morals of U.S. Economic History (New York: Oxford
University Press, 1993), 123-31.
5
"The Progressive Era and the Political Economy of Big Government,"
Critical Review 5 (Fall 1992), 531-57.
"U.S. Financial Markets and Long-Term Economic Growth, 1790-1989," in
Donald Schaefer and Thomas Weiss, eds., American Development in
Historical Perspective (Stanford: Stanford University Press, 1994),
29-52, n 263-66. Co-authors: Jack W. Wilson and Charles P. Jones.
"The Transformation of Financial Capitalism: An Essay on the History of
American Capital Markets," Financial Markets, Institutions &
Instruments 2, no. 2 (1993). Co-author: George David Smith.
"The Interaction of Taxation and Regulation in Nineteenth-Century U.S.
Banking," in Claudia Goldin and Gary Libecap, eds., The Regulated
Economy: An Historical Approach to Political Economy (Chicago:
University of Chicago Press for NBER, 1994), 121-44. Co-authors: John
J. Wallis and John B. Legler.
"Capital Markets," in Stanley I. Kutler, et al., eds., Encyclopedia of
the United States in the Twentieth Century, (New York: Charles
Scribner's Sons/Simon & Schuster, 1996), Vol. III, 1209-42. Coauthor: George David Smith.
"Information and Capital Market Regulation in Anglo-American Finance,"
in Michael Bordo and Richard Sylla, eds., Anglo-American Financial
Systems (Burr Ridge, IL: Irwin Professional Publishing, 1995), 179205. Co-author: George David Smith
"The 1930s Financial Reforms in Historical Perspective," in Dimitri B.
Papadimitriou, ed., Stability in the Financial System (New York: St.
Martin's Press, 1996), 13-25.
"The Rise of Securities Markets: What Can Governments Do?," in Gerard
Caprio, ed., Reforming Finance: Some Lessons of History (Cambridge
University Press, 1997), 198-215.
"U.S. Securities Markets and the Banking System, 1790-1840," Federal
Reserve Bank of St. Louis Review 80, no. 3 (May/June 1998), 83103.
"The Anatomy of Sovereign Debt Crises: Lessons from the American State
Defaults of the 1840s," Japan and the World Economy 10 (1998),
267-93. Co-author: John Joseph Wallis.
"Shaping the U.S. Financial System, 1690-1913: The Dominant Role of
Public Finance," in R. Sylla, R. Tilly, and G. Tortella, eds., The
State, the Financial System, and Economic Modernization
(Cambridge: Cambridge University Press, 1999), 249-70.
"Finance and Economic Growth: Three Decades Post-Cameron," in Clara
Eugenia Nunez, ed., Finance and the Making of Modern Capitalism
(Seville: International Economic History Association, 1998), 1120.
6
“Emerging Markets in History: The United States, Japan, and Argentina,"
in R. Sato, R.V. Ramachandran, and K. Mino, eds.,
Global Competition and Integration (Boston: Kluwer Academic
Publishers, 1999), 427-46.
"Sinking Funds as Credible Commitments: Two Centuries of U.S. National
Debt Experience," Japan and the World Economy 11 (1999), 199-222
(with J.W. Wilson).
“Experimental Federalism: The Economics of American Government, 17891914,” in S.L. Engerman and R.E. Gallman, eds., The Cambridge
Economic History of the United States. Vol. II, The Long
Nineteenth Century (Cambridge: Cambridge University Press, 2000),
483-541, 924-30.
“The New Media Boom in Historical Perspective,” Prometheus—The Journal
of Issues in Technological Change, Information Economic, Communications
and Science Policy 19, 1 (March 2001), 7-26.
“Financial Systems and Economic Modernization: A New Historical
Perspective,” in T. Negishi et al., eds., Economic Theory,
Dynamics and Markets: Essays in Honor of Ryuzo Sato (Boston:
Kluwer Academic Publishers, 2001), 495-504.
“The United States: Financial Innovation and Adaptation,” in M.D. Bordo
and R. Cortes-Conde, eds., Transferring Wealth and Power from the Old to
the New World (Cambridge: Cambridge University Press, 2001), 231-58.
“Razvivaioushchiisya rinok EsShaA, 1790-1860, Globalazyatsiya I
‘Negativnaya reaktsiya’” (“The US Emerging Market, 1790-1860:
Globalization and Backlash”), in “Rossya y Mir (Russia and the World)
(Moscow: Rosspen, 2001), 153-90. (In Russian.)
“US Banks and Europe: Strategy and Attitudes,” in S. Battilossi and Y.
Cassis, eds., European Banks and the American Challenge: Competition and
Cooperation in International Banking Under Bretton Woods (Oxford: Oxford
University Press, 2002), 53-73.
“Financial Systems and Economic Modernization,” Journal of Economic
History 62, 2 (June 2002), 279-92.
“A Historical Primer on the Business of Credit Rating,” in Richard M.
Levich, G. Majnoni, and C. Reinhart, eds., Ratings, Rating Agencies and
the Global Financial System (Boston: Kluwer Academic Publishers, 2002),
19-40.
“The Breakdown of Bretton Woods and the Revival of Financial
Globalization,” Jahrbuch fur Wirtschaftsgeschichte 1 (2002), 81-88.
“Financial Systems, Economic Growth, and Globalization.” In M. D. Bordo,
A. M. Taylor, and J. G. Williamson, eds., Globalization in Historical
Perspective (Chicago: University of Chicago Press, 2003), 373-413. With
Peter L. Rousseau.
7
“Integration of U.S. Capital Markets: Southern Stock Markets and the
Case of New Orleans, 1871-1913,” in Stanley L. Engerman, et al., eds.,
Finance, Intermediaries, and Economic Development (Cambridge: Cambridge
University Press, 2003), 132-56. With John B. Legler.
“The Global Impact of the Internet: Widening the Economic Gap between
Wealthy and Poor Nations?”, Prometheus—The Journal of Issues in
Technological Change, Innovation, Information Economics, Communications
and Science Policy 21, 1 (March 2003), 3-22. With Henry C. Lucas, Jr.
“Financial systems, risk management, and entrepreneurship: historical
perspectives,” Japan and the World Economy 15 (2003), 447-458.
“Venture Capital in Financial Systems: Historical and Modern
Perspectives,” in A. Ginsberg and I. Hasan, eds., New Venture
Investment: Choices and Consequences (Amsterdam: Elsevier, 2003), 153168.
“Hamilton and the Federalist Financial Revolution, 1789-1795,” New York
Journal of American History 65, 3 (Spring 2004), 32-39.
“Is there an Alternative to Gold?”, in Prospects for a Resumption of the
Gold Standard, Economic Education Bulletin 44, 9 (September 2004),
American Institute for Economic Research, 27-41.
“Networks and History’s Generalizations: Comparing the Financial Systems
of Germany, Japan, Great Britain, and the United States,” Business and
Economic History On-Line 2 (2004),
http://www.thebhc.org/publications/BEHonline/2004/beh2004.html. With
Robert E. Wright
“Emerging Financial Markets and Early US Growth,” Explorations in
Economic History, 42 (Jan. 2005), 1-26. With Peter L. Rousseau.
“Origins of the New York Stock Exchange,” Chap. 17 in The Origins of
Value: The Financial Innovations That Created Modern Capital Markets,
William N. Goetzmann and K. Geert Rouwenhorst, eds., Oxford Univ. Press,
2005, 299-312.
“Charles P. Kindleberger: Reluctant Yet Seminal Historian.” Atlantic
Economic Journal 33, 1 (March 2005), 29-33.
“The Transition to a Monetary Union in the United States, 1787-1795,”
Financial History Review 13 (April 2006), 73-96.
“Schumpeter Redux: Review article of R. Rajan and L. Zingales’s Saving
Capitalism from the Capitalists, Journal of Economic Literature, 44
(June 2006), 391-404.
“Financial Revolutions and Economic Growth,” Explorations in Economic
History 43(Jan. 2006), 1-12. With Peter L. Rousseau.
8
“Political Economy of Financial Development: Canada and the United
States in the Mirror of the Other, 1790-1840,” Enterprise & Society 7
(December 2006), 653-65.
“Integration of Trans-Atlantic Capital Markets, 1790-1845,” Review of
Finance 10 (2006), 613-44. With J. W. Wilson and R. E. Wright.
“Reversing Financial Reversals: Government and the Financial System
since 1789,” in Price Fishback, ed., Government and the American Economy
from Colonial Times to the Present (University of Chicago Press, 2007),
Chap. 5, pp. 115-47.
“The Political Economy of Early US Financial Development,” in Political
Institutiona and Financial Development, Stephen Haber, Douglass C.
North, and Barry Weingast, eds. (Stanford: Stanford University Press,
2008), 60-91.
“Comparing the UK and US Financial Systems, 1790-1830,” in The Origins
and Development of Financial Markets and Institutions, Jeremy Atack and
Larry Neal, eds. (Cambridge: Cambridge University Press, 2009), Chap. 7,
209-40.
“Alexander Hamilton, Central Banker: Crisis Management and the Lender of
Last Resort during the US Panic of 1792,” Business History Review 83
(Spring 2009), 61-86. With R. E. Wright and D. J. Cowen.
“Lessons from five US Crises: 1792, 1837-42, 1873, 1907, and 1930-33,”
Bankhistorisches Archiv: Banking and Finance in Historical Perspective
47 (2009), 15-30.
“Political Economy of Supplying Money to a Growing Economy: Monetary
Regimes and the Search for an Anchor to Stabilize the Value of Money,”
Theoretical Inquiries in Law 11 (January 2010), 1-27.
“What we can Learn from the Swedish Financial Revolution: An
International Comparison”, in The Swedish Financial Revolution, Anders
Ögren, ed. (Basingstoke: Palgrave Macmillan, 2010) 204-23. With Anders
Ögren.
“What price did the USA pay for abandoning its central bank in 1836?”,
in Homenaje a Gabriel Tortella: Las Claves del Desarollo Economico y
Social, J. Morilla et al., eds. (Madrid: LID Editorial Epressarial S.L.
and Universidad de Alcala, 2010), 684-93.
“A Bird’s-Eye View: The Dodd-Frank Wall Street Reform and Consumer
Protection Act”, Prologue in Regulating Wall Street: The Dodd-Frank Act
and the New Architecture of Global Finance, V. V. Archarya et al., eds,
(Hoboken: Wiley, 2011), 1-32. With V. V. Archarya, T. Cooley, M.
Richardson, and I. Walter.
“The Power of Central Banks and the Future of the Federal Reserve
System,” Chapter 2 in Regulating Wall Street: The Dodd-Frank Act and the
New Architecture of Global Finance, V. V. Archarya et al., eds,
9
(Hoboken: Wiley, 2011), 35-50. With T. Cooley, K. Schoenholtz, G. D.
Smith, and P. Wachtel.
“The Significance of Founding Choices: Editors’ Introduction”, in
Founding Choices: American Economic Policy in the 1790s, Douglas Irwin
and Richard Sylla, eds. (Chicago: University of Chicago Press, 2011), 121. With Douglas A. Irwin.
“Financial Foundations: Public Credit, the National Bank, and Securities
Markets”, in Founding Choices: American Economic Policy in the 1790s,
Douglas Irwin and Richard Sylla, eds. (Chicago: University of Chicago
Press, 2011), 59-88.
“Corporate Governance and Stockholder/Stakeholder Activism in the United
States, 1790-1860,” in Origins of Shareholder Advocacy, Jonathan
Koppell, ed. (Basingstoke: Palgrave- Macmillan, 2011 forthcoming), 23151. With Robert E. Wright.
“How Important Historically were Financial Systems for Growth in the
U.K., U.S., Germany, and Japan?”, Working Paper for World Bank. Coauthors: Franklin Allen, Forest Capie, Caroline Fohlin, Hideaki
Miyajima, Yishay Yafeh, and Geoffrey Wood.
“Wall Street Transitions, 1880-1920: From national to world financial
centre”, in Financial Centres and International Capital Flows in the
Nineteenth and Twentieth Centuries, Y. Cassis and L. Quennouelle-Corre,
eds. Oxford: Oxford University Press, 2011, 161-78.
"The Dodd-Frank Wall Street Reform and Consumer Protection Act:
Accomplishments and Limitations," Journal of Applied Corporate Finance
23 (Winter 2011), 43-56. Co-authors: V. Acharya, T. Cooley, M.
Richardson, and I. Walter.
“Alexander Hamilton and North American Banking”, in Biographies of the
Financial World, Anders Perlinge and Hans Sjogren, eds. (Stockholm:
Gidlunds Forlag, 2012),37-50.
“U.S. Government Debt Has Always Been Different”, in Is U.S. Government
Debt Different?, Franklin Allen et al., eds. Philadelphia: FIP Press,
2012. Chap. 1, 1-11.
“Alexander Hamilton,” in Handbook of Key Global Financial Markets,
Institutions, and Infrastructure, Gerard Caprio, ed. (Oxford: Elsevier
Inc., 2013), Vol. 1, 151-59.
“Corporation Formation in the United States, 1790-1860: Law and Politics
in Comparative Contexts,” Business History 55, 4(2013), 653-69.
Co-author: Robert E. Wright.
“The American Corporation”, Daedalus 142 (2) (Spring 2013),102-18.
author: Ralph Gomory.
Co-
“Early U.S. Struggles with Fiscal Federalism: Lessons for Europe?”,
Comparative Economic Studies 56 (2) (June 2014), forthcoming.
10
C.
JOURNAL EDITORSHIP AND EDITORIAL BOARDS
Journal of Economic History, Editor, Vol. 38, Nos. 3-4, Vols. 39, 40,
41, 42, 43 and 44 (Nos. 1-3) 1978-84.
Editorial Boards of Financial History, 1991- ; Economic and Financial
History Abstracts, 1997- ; Financial History Review, 1998- ;
Enterprise and Society, 1999; History of Finance Abstracts, 2009- .
D.
BOOK REVIEWS, SHORT ARTICLES, COMMENTS, AND DISCUSSIONS
Review of Money and American Society 1865-1880, by Walter T.K. Nugent,
Journal of Political Economy 77 (Dec. 1969), 1045-46.
"Types of Investments," Tar Heel Economist, North Carolina Agricultural
Extension Service (September 1970), 2-3 (with R. Charles Brooks).
Review of Monetary Statistics of the United States: Estimates, Sources,
Methods, by Milton Friedman and Anna Jacobson Schwartz, The Journal
of Finance, 26 (March 1971), 202-204.
Review of British Investment in American Railways, 1834-1898, by Dorothy
R. Adler, Technology and Culture, 13 (January 1972), 78-79.
Review article on The Bank of the State of South Carolina: A General and
Political History, by J. Mauldin Lesesne; Investment Banking in
America: A History, by Vincent P. Carosso; and A Financial History
of the United States, by Margaret G. Myers, Journal of Interdisciplinary
History, 3 (August 1972), 408-413.
"Economic History von unten nach oben and von oben nach unten: A Reply
to Fritz Redlich," Explorations in Economic History, 10 (Spring 1973),
315-18.
Review of The Myths of Anti-Trust, by D. T. Armentano, The Wall Street
Review of Books, 1 (Sept. 1973), 328-32.
"Public Utilities in the Economy" and "Issues in Utility Regulation,"
Tarheel Economist, North Carolina Agricultural Extension Service
(Oct. 1974), 1-3.
Review of Capitalism and Material Life, by Fernand Braudel, The Wall
Street Review of Books 2 (Dec. 1984), 312-18.
11
"The Denigration of Cotton and Other Dissertations: A Discussion,"
Journal of Economic History, 35 (March 1975), 291-95.
Review of Time on the Cross-The Economics of American Negro Slavery,
by Robert William Fogel and Stanley L. Engerman, The North Carolina
Historical Review, 52 (July 1975), 313-14.
Review of Financing Anglo-American Trade: The House of Brown, 1800-1880,
by Edwin J. Perkins, The Business History Review, 50 (Spring 1976),
116-18.
Review of Scottish Banking: A History, by S. G. Checkland, The Journal
of Economic History, 36 (December 1976), 943-45.
Review of New York City Mutual Savings Banks, 1819-1861, by Alan L.
Olmstead, The Economic History Review, 30 (November 1977), 725-26.
Review of A Tool of Power: The Political History of Money, by William
Wiseley, The Annals of the American Academy of Political and Social
Science, 436 (March 1978), 198-99.
Review of Money and Capital Markets in Postbellum America, by John A.
James, Journal of Interdisciplinary History, 10 (Autumn 1979), 383-85.
Review of The Origins of Central Banking in the United States, by Richard
Timberlake, Jr., Southern Economic Journal (January 1980), 994-95.
Discussion of "Market Power and Bank Lending" and Money and Prices in the
Nineteenth Century", Journal of Economic History, 40 (March 1980),
70-72.
Review of Revolution, Reform, and the Politics of American Taxation, 17631783, by Robert A. Becker, Journal of Economic Literature, 19
(December 1981), 1584-85.
Review of The Regulation and Reform of the American Banking System, 19001929 by Eugene Nelson White, Business History Review, 57 (Autumn
1983), 447-49.
Comment on "Italy in the Gold Standard Period, 1861-1914," in Michael
David Bordo and Anna J. Schwartz, eds., A Retrospective on the Classical
Gold Standard, 1821-1931 (Chicago, 1984), 442-46.
Comment on "Banking and Commodity Market Structure: The Early Chicago
Board of Trade," Review of Research in Futures Markets, 2 (1983),
190-93.
"Economic History", in Howard B. Hitchens, ed., American Studies: A
Catalog of Audiovisual Resources (Washington, D.C.: United States
Information Agency, 1983), 57-99. Also in Howard B. Hitchens, ed.,
America on Film and Tape (Westport, CT: Greenwood Press, 1985), 47-83.
12
"Banking Runs and Panics: A Thing of the Past?", Business Report
(Greater Raleigh Chamber of Commerce), Vol. 1, No. 11 (Aug. 1985).
Review of The Trillion Dollar Budget - How to Stop the Bankrupting
of America by Glenn Pascall, The Annals of the American Academy
of Political and Social Science 483 (Jan. 1986), 200.
Review of Keynesianism vs. Monetarism, and Other Essays in Financial
History, by Charles P. Kindleberger, Journal of Economic History 46
(March 1986), 302-03.
Review of A Guide to the Historical Records of British Banking by L. S.
Pressnell and John Orbell, Journal of Economic History, 46 (Sept.
1986), 837-38.
"Wall Street and the Economy," Tar Heel Economist, N. C.
Agricultural Extension Service (Sept. 1986), 1.
Review of The Rise of Merchant Banking by Stanley Chapman, Journal
of Economic History, 47 (March 1987), 243-44.
"Historical Perspective: 1929 and the Great Depression," The Ornstein
Report (Quarterly/Winter 1987), 6-9.
"Historical Perspective: Doom and Gloom Literature," The Ornstein
Report (Quarterly/Fall 1987), 6-9.
Review of From Slave South to New South: Public Policy in Nineteenth
Georgia by Peter Wallenstein, Journal of Economic History 48 (March
1988), 210-11.
"Patterns of European Industrialization,"
(February 1989), 3-6.
Cliometrics Newsletter 4
Review of The Decline of Authority: Public Economic Policy and Political
Development in New York State, 1800-1860, by L. Ray Gunn, Journal of
Economic History 49 (June 1989), 507-08.
Review of Morgan Grenfell 1838-1988, The Biography of a Merchant Bank, by
Kathleen Burk, The Bankers Magazine 173 (Sept./Oct. 1990).
Review of Financial Markets and Financial Crises, R. Glenn Hubbard, ed.
Journal of Economic Literature 29 (December 1991), 1769-70.
Review of Banks as Multinationals, Geoffrey Jones, ed., Business History
Review 66 (Spring 1992), 229-31.
"William Duer and the Stock Market Crash of 1792," Friends of Financial
History 46 (Second Quarter 1992), 26-29; reprinted in Redemption Digest,
IV, no. 633 (Sept. 1, 1992), 3-5.
Four articles: "Bank Charters," "Chartists' Language," "Cross of Gold,"
and "Federal Reserve System," in The New Palgrave Dictionary of Money
and Finance (London: Macmillan, 1992).
13
Review of Finance and Financiers in European History, 1880-1960, Youssef
Cassis, ed., Journal of Economic History 52 (Dec. 1992), 949-51.
"Past is Prologue: Financial Reforms of the 1930s," Friends of Financial
History 49 (Summer 1993), 12-20.
"The Deal of the Century," Audacity: The Magazine of Business Experience 2
(Fall 1993), 26-31. Co-author: George David Smith.
Review of Lost Prophets: An Insider's History of the Modern Economists, by
Alfred L. Malabre, Jr., Bankers Magazine 177 (Jan./Feb. 1994), 14-17.
Review of An Analysis and History of Inflation, by Don Paarlberg, Journal
of Economic Literature 32 (Dec. 1994), 1884-85.
"Opinion: A 200-year-old alternative to the Balanced Budget Amendment,"
Knight-Ridder Financial News, March 1, 1995 (op ed piece).
"The Forgotten Private Banker," The Freeman (April 1995), 210-14.
Reprinted in J. Wilson Mixon, ed., Private Means, Public Ends:
Voluntarism vs. Coercion, (Irvington-on-Hudson, NY: Foundation for
Economic Education, 1996), 99-105.
Review of Insider Lending, by Naomi R. Lamoreaux, Journal of Economic
History 55 (June 1995), 442-44.
"Investment Banking,"in Kenneth T. Jackson, ed., The Encyclopedia of New
York City, (New Haven: Yale University Press, 1995), 595-97.
Review of International Capital Markets and American Economic Growth by
Lance Davis and Robert Cull, Economic History Review 48 (Nov. 1995),
843-44.
"Three Centuries of Finance and Monetary Control in America," review
article based on E.J. Perkins, American Public Finance and Financial
Services, 1700-1815 and R.H. Timberlake, Monetary Policy in the United
States, Journal of Economic History 55 (Dec. 1995), 902-07.
Review of Managing in a Time of Great Change by Peter F. Drucker, and The
Evolving Global Economy by Kenichi Ohmae, Chief Executive (Dec. 1995),
71.
"Six Myths About the US Economy," Sternbusiness (Spring 1995), 6-11.
"Balanced Budget Amendment: Just Say No," Sternbusiness (Fall 1995), 48.
"Notes on Universal Banking in History," in Anthony Saunders and Ingo
Walter, eds., Universal Banking: Financial System Design Reconsidered
(Burr Ridge, IL: Irwin, 1996), 118-21.
“Where’s Walter?,”, review of Wriston: Walter Wriston, Citibank and the
Rise and Fall of American Financial Supremacy, by Phillip L. Zweig,
Chief Executive (October 1996), 68.
14
Review of Slow Train to Paradise: How Dutch Investment Helped Build
American Railroads, by Augustus J. Veenendaal, Jr., Journal of
Interdisciplinary History 28 (Summer 1997), 157-58.
"Alexander Hamilton," and "Alexander Hamilton: Financial and Economic
Program, 1789-1795," in Peter J. Parish, ed., Reader's Guide to American
History (London and Chicago: Fitzroy Dearborn, 1997), 316-18.
"America's First Securities Markets: The Roots of US Capital Markets,
1790-1830." Financial History 61 (Winter 1998, 14-15, 31. (Co-authors:
Jack W. Wilson and Robert E. Wright)
Review of Political Economy and Statesmanship--Smith, Hamilton, and the
Foundation of the Commercial Republic, by Peter McNamara, EH.NET (May
1998).
Review of A Financial History of the Netherlands, by Marjolein 't Hart,
Joost Jonker, and Jan Luiten van Zanden, Economic History Review 51, 3
(Aug. 1998), 625-26.
Op Ed: "J.P. Morgan to the Rescue?" New York Times (Sunday, Oct. 4,
1998), Section 4, p. 15.
“The First Great IPO," Financial History 64 (1998 IV), 4-5. Republished
in AlleyCat News, vol. 4.3 (March 2000), 118. Republished in Innovation
Review ,Berkley Center, Stern School,NYU (Summer 2002), p.7.
"Currency: A Brief History," SternBusiness (Fall, 1998), 16-17.
Review of Anglo-American Securities Regulation--Cultural and Political
Roots, 1690-1860, by Stuart Banner, Journal of Interdisciplinary History
(1999).
Review of Essays in History: Financial, Economic, Personal, by Charles
P. Kindleberger, Journal of Economic History 60(Sept. 2000), 927-28.
“Am Anfang war das Finanzsystem—dann kam Erfolg—Ein neuer
wirtschaftshistoricher Erklarungsansatz des Aufsteigs von Nationem,”
Neuer Zurcher Zeitung (24./25. Juni 2000), 99.
Review of Republican Empire: Alexander Hamilton on War and Free
Government, by K-F. Walling, The Independent Review 5 (Winter 2001),
452-55.
Review of US Bank Deregulation in Historical Perspective, by Charles W.
Calomiris, Journal of Economic History 61 (Sept. 2001), 841-42.
Review of Banking Panics of the Gilded Age, by Elmus Wicker, Business
History Review 75 (Autumn 2001), 624-26.
Review of A History of Banking in Antebellum America: Financial Markets
and Economic Development in an Era of Nation-Building, by Howard
Bodenhorn, Zeitschrift fur Bankengeschichte 1 (2001), 80-81.
15
“Reminiscences of Britain and Financial Revolutions,” in Pat Hudson,
ed., Living Economic and Social History (Glasgow: Economic History
Society, 2001), 352-56.
“The Broad Perspective,” panel discussion, in Robert A. Schwartz, ed.,
Regulation of U.S. Equity Markets (Boston: Kluwer Academic Publishers,
2001), Chap. 2, 7-28.
“Investment and Capital Formation,” in Paul Finkelman, ed. in chief,
Encyclopedia of the United States in the Nineteenth Century (New York:
Charles Scribner’s Sons, 2001), vol. 2, 129-31.
“Interest Rates,” in Joel Mokyr, ed. in chief, The Oxford Encyclopedia
of Economic History (New York: Oxford University Press, 2003), vol. 3,
113-116.
“Preface” to L. S. Chernoy, Economy, Market, The State: Measures to
Revitalize Russia (New York: Pleiades Publishing, Inc., 2002), 5-9.
“Comptroller of the Currency,” Dictionary of American History
(Scribners, forthcoming).
Review of The Man Who Made Wall Street: Anthony J. Drexel and the Rise
of Modern Finance, by Dan Rottenberg, The Pennsylvania Magazine of
History and Biography 26, no. 4 (Oct. 2002), 665-67.
“The Great Crash of 1929 at Seventy-Five,” Financial History 82 (Fall
2004), 11-13.
“What Hamilton Wrought: How New York Gave Birth to Washington and
Washington Shaped New York,” New York Sun, Aug. 30, 2004, 18.
“Credit Agencies,” The Encyclopedia of New York State, Peter Eisenstadt,
ed., Syracuse University Press, 2005, 419.
Review of The First Crash: Lessons from the South Sea Bubble, by Richard
Dale, Business History Review 79 (Summer 2005), 419-21.
“Robert Fulton on the Profit Potential of Steamboat Navigation in the
Early Nineteenth Century,” Organization of American Historians Magazine
of History 19 (May 2005), 44-53.
“Comment on Becht and DeLong, ‘Why has there been So Little Blockholding
in America?’” in Randall Morck, ed., A History of Corporate Governance,
Chicago, University of Chicago Press, 2005, pp. 660-666.
Review of Chairman of the Fed: William McChesney Martin Jr. and the
Creation of the American Financial System, by Robert P. Bremner,
Enterprise & Society 7 (June 2006, 414-16.
Review of Other People’s Money: Debt Denomination and Financial
Instability in Emerging Market Economies, Barry Eichengreen and Ricardo
Hausmann, eds., Business History 48,3(July 2006), 446-48.
16
“Alexander Hamilton: Report on a National Bank,” in Lexikon Ökonomischer
Werke, Dietmar Herz and Veronika Weinberger, eds. (Stuttgart: Verlag
Wirtschaft und Finanzen, 2006), 169-70 (in German).
“Alexander Hamilton, Central Banker and Financial Crisis Manager,“
Financial History 87 (Winter 2007), 20-25.
“The Diamond of Sustainable Growth”, Sternbusiness (Spring/Summer 2007),
26-29. Co-authors: George David Smith and Robert E. Wright.
Review of Pricing Theory, Financing of International Organizations, and
Monetary History, by Lawrence H. Officer, www.EH.NET-Reviews, November
2007.
Review of Breaking Open Japan: Commodore Perry, Lord Abe, and American
Imperialism in 1853, by George Feifer, Enterprise & Society 8 (Dec.
2007), 967-68.
Review of Capital Ideas Evolving, by Peter L. Bernstein, Journal of
Economic Literature 46 (March 2008), 168-70.
Review of Surviving Large Losses: Financial Crises, the Middle Class,
and the Development of Capital Markets, by Philip T. Hoffman, Gilles
Postel-Vinay, and Jean-Laurent Rosenthal, Journal of Economic History 68
(June 2008), 330-31.
“Get used to it. American government has always propped up American
banks,” http://www.Forbes.com/2008/10/15/federal-banking-hamiltonoped/cx_rs1015sylla.html (October 15, 2008).
Review of Every Man a Speculator: A History of Wall Street in American
Life, by Steve Fraser, Labor History 50:2 (2009), 225-26.
Review essay on A Farewell to Alms: A Brief Economic History of the
World, by Gregory L. Clark, Business History Review 82: 4 (Winter 2008),
839-43.
“Another Great Depression? A 911 Call to Alexander Hamilton Might Be the
Answer”, SternBusiness (Spring 2009), 36-39.
“The US Banking System: Origin, Development, and Regulation”,
HistoryNow—American History Online, 24 (June 2010), at
http://dev2.gilderlehrman.org/historynow/06_2010/.
“Investment Banking,” in Kenneth T. Jackson, ed., The Encyclopedia of
New York City, 2nd ed. (New Haven: Yale University Press, 2010), 654-55.
Review of The Philadelphia Stock Exchange and the City It Made, by
Dominic Vitiello with George Thomas, Pennsylvania Magazine of History
and Biography 135 (Jan. 2011), 110-11.
Review of Unsettled Account: The Evolution of Banking in the
Industrialized World since 1800, by Richard S. Grossman, Journal of
Economic History 71 (March 2011), 254-55.
17
Review of Investing in Life: Insurance in Antebellum America, by Sharon
Ann Murphy, Journal of American History 98 (2011), 513-14.
“’Fortune 500’ of 1812 Shows U.S. Banks’ Early Influence”, Bloomberg
Echoes, April 10, 2012. Co-author: Robert E. Wright.
http://www.bloomberg.com/news/2012-04-10/-fortune-500-of-1812-shows-u-s-banks-earlyinfluence.html.
“Early Corporate America: The Largest Industries and Companies before
1860,” Financial History 103 (Summer 2012), 21-25, 38-39. Co-author:
Robert E. Wright.
“A Museum of Finance: Why?” Financial History 104 (Fall 2012), 24-27,
46.
“New Goals for American Corporations”, Huffington Post Business, January
14, 2013. Co-author: Ralph Gomory.
http://www.huffingtonpost.com/ralph-gomory/new-goals-for-americanco_b_2471033.html?view=screen
“Central Banking and the Incidence of Financial Crises”, Financial
History 108 (Fall 2013), 20-23.
Review of Political Bubbles: Financial Crises and the Failure of
American Democracy, by Nolan McCarty, Keith T. Poole, and Howard
Rosenthal, Journal of Economic Literature (March 2014 forthcoming).
E. LECTURES ON TAPE
"The Development of Banking Systems: England and America 1700-1914", and
"Banking and Economic Development" (with P. L. Cottrell), London: Audio
Learning Limited, 1979.
F. Internet Data Bases Created
“Price Quotations in Early U.S. Securities Markets, 1790-1860.”
http://eh.net/databases/early-us-securities-prices
G.
WORKS IN PROGRESS, 2004
Wall Street: A Concise History, with George David Smith (to be published
by Cambridge University Press).
"Sovereign Debt and Repudiation: The Emerging-Market Debt Crisis in the US
States, 1839-1843," NBER Working Paper 10753 (Sept. 2004), submitted to
Journal of Economic History; revise and resubmit, August 2007. Still
under revision to relate the Euro Zone crisis.(Co-author: John J.
Wallis.)
“Debt, Default and Constitutional Reform: U.S. State Debt Crises and their
Aftermath, 1830-1857” (presented at conference, “Government Debt Crises:
Politics, Economics, and History”, Geneva, Switzerland, November 2012.
18
H. INVITED ACADEMIC LECTURES AND SEMINARS (since 1975)
1975 - Oxford (All Souls College)
1976 - Oxford (St. Antony's College)
London School of Economics and Political Science
1978 - Oxford (St. Antony's College)
Edinburgh (Seventh International Economic History Congress)
1980 - Columbia University
1981 - Northwestern University
University of Chicago
New York University
1982 - Budapest (Eighth International Economic History Congress)
University of Mississippi
Rockefeller Archive, Pocantico Hills, NY
1983 - University of Pennsylvania
Rutgers University
North Carolina Central University
University of California - Berkeley
Eleutherian Mills Historical Library
University of Rochester
1984 - Harvard University
Wake Forest University
1986 - Bern (Ninth International Economic History Congress)
Yerevan, U.S.S.R. (History Section, Armenian Academy of
Sciences)
1987 - National Bureau of Economic Research, Summer Institute
University of Illinois
Indiana University
University of Chicago
1988 - American University (Washington, D.C.)
Reserve Bank of Australia (Sydney)
Melbourne University (Australia)
University of Auckland (New Zealand)
1989 - Clemson University
New York University
1991 - Columbia University
Jerome Levy Economics Institute, Bard College
Lehigh University
UCLA
1992 - Harvard Business School
Governors State University, Illinois
1993 - Jerome Levy Economics Institute, Bard College
Baruch College
1994 - World Bank, Washington, DC
1995 - NYU Japan Center Technical Symposium, Tokyo
1996 - Austrian Colloquium, NYU Economics Dept. (Arts & Sciences)
University of Chicago
1997 - University of Munich, Germany (2)
Free University of Berlin, Germany (2)
University of San Andres, Argentina
University of Toronto (Cliometrics Conf.)
19
1998 - Harvard University
Indiana University
University of Illinois
Universidad Torcuato di Tella, Argentina
California Institute of Technology
Columbia University
1999 - London School of Economics
2000 - NYU (Berkley Center/Austrian Economics joint seminar)
University of Maryland
CUNY-Graduate Center
The World Bank
Union College
2001 – Harvard Business School
UNC-Chapel Hill
IMF
University of the South, Sewanee
2002 – Federal Reserve Bank of New York
Harvard
University of Virginia
IMF
Harvard Business School
2003 – Bank of Japan
Nihon University, Tokyo
Yale University
Univ. of Oxford (Hicks Lecture)
Stockholm School of Economics
University of Paris
Univ. Carlos III, Madrid
Univ. Carlos III, Madrid (Figuerola Lecture)
Harvard (Warren Center)
2004 – Univ. of Arizona, Jan.
Harvard (Econ. History seminar)
Harvard (Monetary Policy seminar)
Johns Hopkins University
Humboldt University, Berlin
Harvard Business School
New-York Historical Society (The Bernard and Irene Schwartz
Distinguished Speakers Series, six lectures on ‘Alexander Hamilton
and the US Financial Revolution, 1789-1795’)
2005 – Stanford University
Ohio State University
China Europe International Business School (Shanghai)
2006 – University of Illinois
Northwestern University
Rutgers University
Utrecht University, Netherlands
Bank of Italy, Rome
2007 – University of Wisconsin, La Crosse
2008 – Columbia University
University of Venice
University of Geneva
North Carolina State University
20
2009 – Tel Aviv University
SUNY-Binghamton
New-York Historical Society
Barnard/Columbia University
Dartmouth College
Wichita State University
2010 – Washington University
Stockholm School of Economics
Financial University under the Government of the Russian Federation
Wichita State University
2011 – Ohio Wesleyan University
2012 – NBER DAE Summer Institute
United States Treasury
2013 – Dubrovnik Economics Conference, 6/11-14
I.
WORKSHOPS AND CONFERENCES ORGANIZED
Triangle Economic History Workshop, North Carolina - organizer of this
intercampus workshop that met approximately twice monthly at National
Humanities Center, 1979-1990.
Columbia University Economic History Seminar, 1991-92 co-chair with Kevin
O'Rourke, met monthly.
NYU Salomon Center Conference on "Anglo-American Finance: Institutions
and Markets in the USA, Canada, and the UK in the 20th Century," Dec.
1993.
NYU Stern, Financial History seminar, 2003NBER “Founding Choices” conference, Hannover, NH, May 2009.
J.
CONSULTING ACTIVITIES
North Carolina Utilities Commission, 1971-73 (Cost of capital testimony,
rate hearings)
Citibank (New York), 1979-1983 (Institutional development study)
WRAL-FM 101, 1980-1990 (Radio commentaries)
Chase Manhattan Bank (New York), 1983-1985 (Institutional development
study)
South Street Seaport Museum (New York), 1990-96.
Warren, Gorham & Lamont, Inc., 1991-97 .
The Winthrop Group, 1994- .
Foundation for Teaching Economics, 1994-2004.
Sullivan & Cromwell, 1996
Fenwick & West and Mayer, Brown & Platt, 1996-97
Faulkner & Gray, 1997-2000
Ferrostaal, Inc., 2000
IMF, 2001-02
W.R. Berkley Corp., 2001
Swedish International Development Agency (SIDA), 2001
Fidelity Investment Mgmt., 2008
21
Oppenheimer Funds, 2008
Credit Suisse, 2008-09
Gilder Lehrman Institute of American History, 2010H Partners Management LP, 2012-
22