Economic History Commons^™

What, Exactly, Is Surveillance Pricing?, Kaylina Stroud

McNair Summer Research Program

Surveillance pricing is a method of price discrimination in which firms use personal data to set individualized prices. While this practice is often criticized on grounds of privacy, unfairness, or exploitation, these objections do not fully explain what is morally objectionable about surveillance pricing. This paper examines surveillance pricing through the lenses of price discrimination, market competition, efficiency, exploitation, and deception. I argue that surveillance pricing is not inherently unethical merely because it results in different consumers paying different prices for the same product. Nor is it necessarily objectionable when it promotes mutually beneficial exchanges and efficient market outcomes. The …

Legends, Lies, & Rewritten Lives: After The Little Bighorn: Forgotten Struggles Of Those Who Walked Away, 2nd Edition, Thomas B. Davidson

DU Textbooks

This Story surrounds an event that occurred one summer on June 25, 1876, along the banks of the Little Bighorn River in what is now the state of Montana. Seen from a 21st century perch, it is a story of a collision between two very different civilizations or empires. Both empire’s military fought in the manner of their society. This narrative will attempt to balance the believable truth of what happened in that contest between the military representatives of both societies while also trying to tell an engaging story, without drifting into naked partisanship, purple prose, or sensationalism. The narrative …

American Struggle: Democracy, Dissent, And The Pursuit Of A More Perfect Union: An Anthology, Jay Nathan

Journal of Global Awareness

No abstract provided.

Fiscal And Monetary Policies For Inclusive Growth In Developing And Emerging Markets, Collins Anosike

Journal of Global Awareness

The study examined the effects of monetary and fiscal policies in attaining inclusive growth for some developing countries and emerging markets. The study selected 20 countries and grouped them into group one and group two. The study is unique because it captures a broader range of countries compared to previous studies and shows their effect on economic growth. We use panel data and employ OLS regression and Johansen cointegration. We examine how each variable, general government expenditure, gross national expenditure, total revenue, official exchange rate, broad money, and deposit interest rate, affects the dependent variable (real GDP) from 1980 to …

The Evolution Of Economic Rhetoric And Its Correlation With The Marginalization Of Ethics In Economics, Mi Phan, Rhiannon Scharnhorst

Undergraduate Research (Journal)

Economic discourse has undergone a profound transformation from its moral-philosophical origins to contemporary mathematical formalism. This study examines whether the shift toward formalized economic writing resulted in the marginalization of explicit ethical reasoning. Through comparative textual analysis of twelve chapters from six influential works—spanning from Adam Smith’s Wealth of Nations (1776) to Milton Friedman’s methodological essays (1953)— the research identifies a pattern in which ethics is less and less prevalent. Pre-formalist economists like Smith and Marx integrated moral arguments directly into their analytical frameworks, examining questions of exploitation, justice, and social welfare as central to economic inquiry. Post-formalist economists, pursuing …

Manipulation Or Monetization?: The Rise Of Stock Buybacks And Their Effects On Firm Valuation And Investment, Thomas H. Serrano

Economics Undergraduate Honors Theses

Abstract:

This thesis uses basic econometrics to examine the relationship between stock buybacks, firm valuation, and investment among publicly traded firms from 2000-2024. Using firm-level data pulled from Compustat North America and a fixed-effect multivariate regression, it evaluates whether buybacks are associated with higher valuation and stronger productive investment as defined in the paper. The results show that buybacks are positively associated with firm valuation the first year that they occur, but the relationship disappears when they are lagged for a year. Furthermore, the analysis does not find strong statistical evidence that repurchases are associated with changes in investment, or …

Inequality And Well-Being, Sarah E. Boslaugh

Theses

Human well-being has been a topic of interest to philosophers at least since the time of Aristotle, and well-being has also been a core concern of social scientists since the birth of the discipline in the late 18^th century. Some theories of well-being include economic inequality as a factor, and multiple ways to measure this factor have been developed; as with well-being, there is no single best measure of economic inequality and the choice of which measure to use may be based on both theoretical and practical reasons. I argue that income inequality should always be included as a …

The Hypocrisy Of The Wizards—A Proposal To Correct Incentives In Higher Education Loan Financing, Caden Benedict

School of Public Policy Capstones

This paper explores the origins of the student loan debt crisis and proposes tying university incentives to graduates' repayment plans and disclosing median earnings for degrees before students apply. Specifically, while there are numerous factors explaining why the price of education has increased dramatically since the 1970s, this paper proposes solutions that will specifically target university moral hazards by requiring universities fund: (1) the current subsidies to federal student loan repayments under income-driven plans as the House of Representatives intended before the Senate removed "risk-sharing," and (2) bankruptcy law discharge amounts. Moreover, requiring universities to disclose the median earnings of …

From Ruins To Rival: How The Japanese Economic Miracle Forged A Global Power, Elizabeth Rips

The Dialogue

The Japanese Economic Miracle (1950-1975) represents one of the most sustained periods of rapid economic growth in modern history. This paper examines the extent to which political policies contributed to Japan’s transformation into a leading global industrial power during the postwar era. While some historians emphasize the decisive role of U.S. occupation reforms and American economic support, this paper argues that Japan’s rise resulted from the interaction of multiple factors. Focusing on political institutions such as the Yoshida Doctrine, the dissolution of zaibatsu’s, and the Ministry of International Trade and Industry (MITI), the paper analyzes how state-led industrial policy fostered …

Delenda Est Norfolk: The Tidewater Revolts!, Kiera Dillman, Alise Dunham, Kristen Gary, Olivia M. Haris, Nelliel A. Herrera, Logan Holzgrefe, R. J. Lynch, Adam M. Manis, David Mogan, Luke Pickard, Shayla M. Shaw, Landon Swain, Kenny Wilcox, Bailey M. Wimberly, Tracy L. Barnett

Student Projects

Introduction to the Exhibit:

Today—exactly 250 years after the signing of the Declaration of Independence—many Americans trace the origins of the nation’s revolutionary sentiment to Boston, Massachusetts or Philadelphia, Pennsylvania. We remember the violence of March 1770, when red-coated British soldiers fired into a crowded Boston street, massacring innocent colonists and igniting outrage. We recall the patriotic defiance of the Sons of Liberty, who boarded three East India Company ships and dumped chests of imported British tea into the Boston Harbor in December 1773. We can still hear, too, the reverberations of the “shot heard ’round the world,” when British …

Converting The Social Security Trust Fund Into A Sovereign Wealth Fund: A Proposal To Secure The Future, Keanu Moore

Dartmouth College Master’s Theses

This thesis proposes the conversion of the Social Security Trust Fund into a sovereign wealth fund (SWF), paired with the phased creation of a mandatory retirement savings system for all working-age Americans. In response to forecasts projecting Trust Fund depletion by 2034, the proposed portfolio shift would diversify assets beyond U.S. Treasuries into global equities, real estate, alternatives, and fixed income, with the goal of enhancing long-term returns while remaining passively managed. While this reform would extend the Fund’s solvency, it is not, on its own, a permanent fix. To ensure structural sustainability beyond the exhaustion date, the thesis proposes …

The Price Of Democracy: The Revolutionary Power Of Taxation In American History, Vanessa Williamson

Brookings Scholar Lecture Series

As part of the Brookings Scholar Lecture Series, Brookings Mountain West presented a lecture titled, "The Price of Democracy: The Revolutionary Power of Taxation in American History" by Brookings senior fellow in governance studies, Vanessa Williamson.

From tariffs to “no tax on tips”, taxation has often been a hot topic in American elections. What is not commonly recognized, however, is that—from the framing of the Constitution to the decades-long backlash to the civil rights movement—taxes have been at the heart of battles over the breadth of our democracy. Brookings senior fellow Vanessa Williamson discusses her new book, The Price of …

The History Of Philanthropic Wealth In Maine, Jillian Foley Mppm, Timothy Atkinson Mppm, Emma Schwartz

Justice Policy

This report (March 2026) was developed in collaboration with the Maine Philanthropy Center to invite readers to engage in an honest exploration of how wealth was accumulated in Maine and how our history continues to shape our communities today. Grounded in research and interviews with historians and philanthropic leaders, the report examines the connections between extractive histories and modern-day philanthropic structures. The authors aim to guide readers to explore the historical context, reflect on their own histories, and consider more equitable, restorative approaches to community-centered giving. While this report was designed with funders and nonprofit leaders in mind, the authors …

The Joy Above All Joys: Roland D. Sawyer’S Socialism For The Working Class, Maggie R. Buglino

Roland D. Sawyer Scholarship Papers

Following the Industrial Revolution, Americans were required to adapt to the nation's new capitalistic society. Witnessing the subsequent struggle of working-class families, 20th century Christian socialist Roland D. Sawyer was resolved to advocate for a reformed economic structure. This paper is dependent entirely on primary sources in the Roland D. Sawyer Collection, available in the University of New Hampshire's Milne Special Collections. Studying Sawyer's autobiography and various socialist writings illustrates his idea of a good life for the American working-class and how they were to achieve it through the adoption of a socialist doctrine. Throughout his activism, he encouraged Americans …

The Economics Of Accountability: Learning From German Holocaust Reparations, Grace I. Gates

Scripps Senior Theses

Drawing on microdata from the Survey of Health, Aging, and Retirement in Europe, this study compares European Holocaust survivors who received reparations with similar Europeans who did not. It finds that, decades on, recipients are not systematically better or worse off on core outcomes like life satisfaction, savings, and debt. This is consistent with the argument that reparations restore parity rather than create new advantages. Where differences emerge, they point to stabilization in more vulnerable settings (e.g., lower likelihood of high debt in parts of Eastern Europe). The main takeaway from effective reparations is applicable to the United States debate: …

Women's Work And Wealth: Measuring The Impact Of Incremental Liberations, 1850-1870, Hannah Kelly

Williams Honors College, Honors Research Projects

Using a two-way fixed effects difference-in-difference model, this project analyzes data from the IPUMS Full Count census for 1850, 1860, and 1870 at a state level for 48 states. Four models assess the impact of property laws on women's real property holdings, labor force participation, household types, and real property values.

By quantifying the impact of various legal reforms on women's economic empowerment, this project fills a gap in the understanding of the intersection between law, society, and women's economic agency during a transformative period in pre-industrial American history. These impacts can implicate the effectiveness of legislative measures in advancing …

Authoritarian Development & Political Economy Of East Asia: The Making Of South Korea’S Developmental Regime, Christopher J. Chung

CMC Senior Theses

This thesis investigates the historical evolution of South Korea's developmental trajectory during the Park Chung-hee era (1961-1979), a period that left an indelible mark on the country's political economy and industrial landscape. Rather than treating Park's regime as its own starting point, this thesis situates it within a longer historical arc beginning with Japanese colonial rule and continuing through Syngman Rhee's aid-dependent republic, arguing that Korea's developmental success was neither institutionally inevitable nor externally engineered, but the product of a historically specific and ideologically driven state-building project. Four primary questions guide this research: what historical conditions shaped the institutional landscape …

Bitcoin And The American Conflict Over Money And Property, Jacob Smagula

CMC Senior Theses

I argue that Bitcoin is the latest expression of the recurring American conflict over who controls the terms of money and property, and that the political coalition formed around Bitcoin shares the same characteristics as earlier coalitions formed around this struggle. I review three historical cases that each produced a coalition opposing the existing monetary order: the Bank War of the 1830s, the Free Silver movement of the 1890s, and the populist backlash against the Federal Reserve during the 1979 Farm Crisis and the 2008 Great Recession. I find that Bitcoin’s architecture, which allows for self-custody, permissionless access, and an …

Wiener-Granger Causality To Model Banking Sector Contagion, Riya Bhasin

CMC Senior Theses

In this thesis, we explore the main drivers behind the 2008 Global Financial Crisis and how the interconnectivity of banking sectors contributed to the worldwide spread of its effects. To understand how this became a global phenomenon, we apply linear Wiener-Granger Causality as a form of network analysis, building on pre-existing methodology in order to study continent banking indices. We find connections across locales on the continent and country level, but ones that are weak. Our modelling was insufficient to completely capture existing and well-known relationships accurately. This occurs due to limitations of the data and of the linear models’ …

Working Paper No. 104, An Gorta Mór: The ‘Great Hunger’ And Irish Immigrant Labor In 19th Century America, Amanda Bergeson

Working Papers in Economics

This inquiry seeks to establish that portions of the population of Ireland -- responding to what has been referred to in their Celtic language as An Gorta Mór, or in the English language as the ‘Great Hunger -- took to emigrating en masse and therewith contributed bigly to the expansion of America’s labor supply. Bolsterd by Irish immigrants, this expanding mid-nineteenth century labor force provided for an abundance of workers needed for a broadly based industrialization, that would also lead to large-scale urbanization as well as a host of changes in this nation’s social fabric. Of note is that …

Working Paper No. 105, John Locke And The American Experiment, Riley Sharps

Working Papers in Economics

This inquiry seeks to establish that ideas advanced by the Englishman John Locke, regarding private property, natural rights, as well as a social contract for relations between authorities and governed, influenced the American experiment at its founding. Locke’s novel understanding regarding private property greatly influenced leaders railing against British dominance. His ideas were picked up by founding figures such as John Adams, Thomas Jefferson, as well as James Madison, and Thomas Paine. Through their leadership, in particular, Locke’s ideas were carried forward and served as the inspiration behind key concepts appearing in this new nation’s founding documents. First appearing in …

Working Paper No. 106, The Rise And Fall Of Whaling In Early America, Miranda Rehaume

Working Papers in Economics

This inquiry seeks to establish that whaling activities -- and later a whaling industry -- would play important roles in the economic development of the colonies that would, with time, form into the United States of America. Drawing from historical accounts, this inquiry explores how whaling emerged as a cornerstone of the colonial, New England economy as well as the early American transatlantic trade. It shall be argued that the industry’s prosperity was driven by capital investments that included the development of specialized ships and equipment, driven by the colonists’ determination to make the whaling industry prosper. However, repeated disruptions …

Investigating The Relationship Between Noun Classes And Plant Folk Taxonomy In Chasu Language Of Kilimanjaro Region In Tanzania, Peter Rabson Mziray

Journal of Humanities and Social Sciences

The current study investigates the relationship between noun classes and plant folk taxonomy in Chasu (G 22). The study focuses on two objectives: the first objective is to describe the plant folk taxonomy in Chasu and the second objective is to determine the relationship between noun classes and plant folk taxonomy in Chasu. Data were collected from rural villages in Same and Mwanga districts by using free listing, field interviews (jungle-walk-and-identify), and written texts containing Chasu plant names. The findings reveal that Chasu folk taxonomy reflects different ethnobotanical categories; including a unique beginner which is mmea/mimea ‘plant(s)’, and three life …

In The Hull Of The Uss Disregard: An Analysis Of Secretary Of State Cordell Hull’S Execution Of Foreign Policy In East Asia And The Precipitation Of Armed Conflict Between Japan And The United States, Eric B. Hawkins

Theses

The political career of Cordell Hull was motivated primarily by trade policy and the courting of Central America through the negotiation of reciprocal trade treaties that helped stabilize, for the most part, the entire Western Hemisphere. He was an obvious choice for Roosevelt’s cabinet to address economic instability. But why was he chosen for Secretary of State? The Open Door Policy, adopted by many Western nations in East Asia during the early 20th century, was a petri dish primed for the growth of political strife and international conflict. With the warnings from Hull’s predecessor, Henry Stimson, placed on the back …

Alfred Russel Wallace Notes 38. Alfred Russel Wallace's "Revolt Of Democracy": A Critical Analysis Of Early 20th Century Labor Theory And Its Contemporary Relevance, James Williams, Charles H. Smith Editor

Faculty/Staff Personal Papers

This article examines Alfred Russel Wallace’s political treatise The Revolt of Democracy (1913), analyzing his theoretical framework for addressing labor unrest and economic inequality in early 20th-century Britain. Wallace's work presents a comprehensive critique of competitive capitalism and proposes systematic government intervention to address structural poverty. Through close textual analysis and comparison with contemporary UK labor conditions, this study evaluates the enduring relevance of Wallace's economic theories and policy prescriptions. The analysis reveals significant continuities between early 20th-century and contemporary debates about living wages, government employment standards, and wealth redistribution, while highlighting both the prescience and limitations of Wallace’s analytical …

Legends, Lies, & Rewritten Lives: After The Little Bighorn: Forgotten Struggles Of Those Who Walked Away, Thomas B. Davidson

DU Textbooks

This Narrative is about an event that occurred on June 25, 1876, on the banks of the Little Bighorn River in what is now the state of Montana. Seen from a 21st century perch, it tells a story of a contest between the armed representatives of two different civilizations, each of which fought in the manner of its society. The narrative will attempt to balance the truth of what happened while also relating an engaging story, but without drifting into sensationalism. The narrative will go beyond a focus on the meeting of the soldiers from either group to explore the …

Horses And The Transition From Feudalism To Capitalism., Thomas E. Lambert

Faculty and Staff Scholarship

Many scholarly articles and books have been written about the transition from feudalism to capitalism over the decades. The various points of views on what is the “main driver” or “prime mover” of the transition have been debated in various forums by historians and economic historians with a different major factor being advocated by different proponents or schools of thought. This paper tries to offer another analysis of how the horse could have been an important “means to an end” in the development of capitalism, and this analysis possibly can lead to support for more than one view of what …

Perkembangan Syarikat Bekerjasama Kedah Dan Perlis, 1926-1956, Nur Najwa Yusof

Student Works (2020-2029)

This study examines on the development of cooperative companies established in Kedah and Perlis between 1926 until 1956. The focus of this study is to make sure if this institution is capable to change the social economic status of its members and to elaborate the scenario of the farmers in Kedah and Perlis before the cooperative companies are fully established in these two states. This study also examines the forms of social cooperation that has been the practice of the Malay community before the British colonisation. Other than that, this study focuses on the governance and organisation of the cooperative …

Bank Stocks And Roosevelt’S Bank Holiday, Marc Weidenmier, Angela Vossmeyer, Nathan Stella, Oncel Aldanmaz

Business Faculty Articles and Research

Roosevelt’s Bank Holiday in March 1933 aimed to halt bank runs and implement licensing for banks. Using a new hand-collected daily database, we examine how bank stocks and bond markets responded to this sweeping regulation. We find that New York City banks saw significant negative abnormal returns, while Chicago banks experienced positive returns, highlighting regional differences in perceptions of the policy. Corporate bond yields fell by 1.4 percentage points, lowering interest rates. Our findings show how markets reacted differently across regions and asset classes to this critical intervention.

Constructing A State: Canals And The Transformation Of The Economy, Politics, And Finance In Nineteenth-Century New York, Youwei Xing

All Dissertations

This dissertation consists of three essays in economic history, unified by a focus on one of America's earliest transportation infrastructures, the canal system, in nineteenth-century New York. Each chapter explores a different aspect of the state's transformation: its economy, politics, and finance, each of which helped construct New York as the Empire State.

The first chapter studies the economic impact of canals on economic modernization from three aspects: sectoral transition, urbanization, and banking development. Contrary to much of the modern literature finds transportation infrastructure leads to decentralization, I find the opposite-evidence of centralization. Specially: (1) canal towns experienced a transition …