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Shaping the Economy Through Public Debt
[Plasmare l’economia attraverso il debito pubblico]

Author

Listed:
  • Nicolas Barreyre

    (EHESS - École des hautes études en sciences sociales, UMR 8168 - Mondes Américains - UP1 - Université Paris 1 Panthéon-Sorbonne - EHESS - École des hautes études en sciences sociales - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

The nineteenth-century U.S. state is often understood as a non-administrative state that purposefully shied away from intervening in the economy. This essay looks at the public debt amassed during the Civil War to explore how this instrument of finance and statecraft could be used to reshape the state and make it into an influential economic player without developing a large bureaucracy. Public debt served to build and maintain the financial infrastructure that would underpin the massive capitalist-industrial development of the United States in the half-century that followed the Civil War.

Suggested Citation

  • Nicolas Barreyre, 2026. "Shaping the Economy Through Public Debt [Plasmare l’economia attraverso il debito pubblico]," Post-Print halshs-05512503, HAL.
    • Handle: RePEc:hal:journl:halshs-05512503
    DOI: 10.60923/issn.1825-9618/24063
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