I finally finished grading and had a
chance to read a bit more of Levy’s Ages of American Capitalism. I finished
the Age of Capital but still have ages of control and chaos to get through. These
may take a while; the closer we get to now the less history interests me.
In the meantime, I’ll provide my second impression on the book. See here
for the first impression.
As a reminder, Levy is trying write a
story of American economic history that is more engaged with economics than previous
work in the New History of Capitalism (by the way, I think this criticism was probably
more valid when Levy began the book than when he finished it) and is organized
around three theses.
Thesis #1: “Rather than a physical
factor of production, a thing, capital is a process through which a legal