History Commons^™

Founding Corporate Power In Early National Philadelphia, Andrew Schocket

Andrew M Schocket

During its first heady decades, the United States promised to become a fully democratic society with unprecedented liberty and opportunity. Yet, as political rights spread, a rising elite gained control over the sources of prosperity by means of the institution that has since come to symbolize capitalist America—the corporation. In this study, Andrew M. Schocket analyzes the establishment, growth, and operations of both commercial and municipal corporations in the nation’s premier city, Philadelphia. From the 1780s through the 1820s, members of Philadelphia’s privileged class formed corporations in order to consolidate their capital and political influence. By controlling regional transportation networks …