Farewell to the “Party Period”: Political Economy in Nineteenth-Century America

Historians of the United States have long contended that the study of governmental institutions, including the history of public policy, is no longer central to the teaching and writing of American history. Some lament this development; others hail it as a sign that other worthy topics are finally getting the attention they deserve. Yet is it true? The recent outpouring of scholarship on the relationship between the state and the market, or what an earlier generation would have called political economy, raises questions about this venerable conceit. Indeed, if one were to pick a single word to characterize the state of the field in the history of American political economy, it might well be “robust.”