American Economic History Eight Edition has been updated to include the latest economic data from the Bureau of Economic Analysis, The Federal Reserve, The Department of Labor and the President's 2019 budget proposal. The book also gives the reader insight into various instances in American economic history from the early days of the colonies to today and the problems in between. In addition, the book gives the reader insights into the evolution of classical economic theory from Aristotle to John M. Keynes. Milton Friedman and many modern economists.American Economic History Eight Edition examines the evolution of economic theory, from the early Greeks and Romans to the populists administration of President Trump and the historical events that affected the economic growth of the United States and the world's industrialized countries. The major theories of micro and macroeconomics are discussed, but the emphasis of the book is on how these theories were developed and taught by those economists and political thinkers who invented them in the first place. Warning: Liberal academics with no practical business experience may not like this book. The bulk of the economic data is not taken from previous economic text books it is derived directly from government sources. For example, the major reference sources for Chapter 17 Ronald Reagan and the 1980's was from persons who actually worked in that administration. The book is designed to educate the average reader about economics and the history of it's development. Academics who wish to criticize the book for not showing enough critical review and analysis might fit into President Truman's problem of never meeting a one handed economists.
About the Author: Richard E. Carmichael, Ph.D. is a professor in the College of Distance Learning and Continuing Education at Gardner-Webb University. He previously served as the Alex Lee Professor of Business at Lenoir-Rhyne College. He also served as a Visiting Professor of Finance at Washington College in Chestertown, MD and a Faculty Associate with the Johns Hopkins University Division of Business in Baltimore, MD. He has had teaching assignments in American Economic History, Macro and Microeconomics, Strategic Management, Business Economics, International Business, Small Business Management and Financial Markets and Institutions. In addition, Dr. Carmichael has over fifteen years of business experience in the fields of Financial Management, Economic Forecasting and Marketing. He has held executive positions with First Interstate Bank of California as Vice President of Strategic Planning and Marketing, BankAmerica Corp., as Vice President of Market Planning and Research, Manufacturers Hanover Corp. as Financial Economists for the Bank's National Division. Also, he has over ten years' experience with the U.S. Government as Budget Manager for the U.S. Bankruptcy Court in Maryland and as Branch Chief for Credit Programs for the U.S. Small Business Administration in Washington, DC. He holds a BS in Economics, an MBA in Financial Management and a Ph.D. in Business Administration.