A Segunda Escravidão e a Primeira República Americana

Abstract

This article rewrites the history of the Antebellum United States around
the four phases of its financial history. These phases map out changing
boom-and-bust cycles, driven by the entrepreneurs’ desire to create
innovative and deregulated financing of the expansion of slavery. The
ability of enslavers to use the state to create markets, extract rents,
underwrite credit flows from the worldwide community of investors, and
socialize losses was the main driving force for the broader expansion of the
U.S. economy and for its periodic crises as well.