N100.002: American Business History
When President Calvin Coolidge declared in 1925 that “the chief business of the American people is business,” he was not making a historical argument, though it would have been a defensible one. Nearly a century earlier, French visitor, Alexis de Tocqueville, made a similar observation. Indeed, America was colonized by joint-stock corporations! Understanding the history of American business can therefore unlock a great deal about America itself.