Underwriters of the United States
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- Опубліковано 28 бер 2023
- Hannah Farber (@columbia) discusses her book and explains how the insurance business and the United States discovered that they were good for one another.
Learn more about her work
history.columbia.edu/person/f...
Pick up a copy of "Underwriters of the United States"
uncpress.org/book/97814696636...
Unassuming but formidable, American maritime insurers used their position at the pinnacle of global trade to shape the new nation. The international information they gathered and the capital they generated enabled them to play central roles in state building and economic development. During the Revolution, they helped the U.S. negotiate foreign loans, sell state debts, and establish a single national bank. Afterward, they increased their influence by lending money to the federal government and to its citizens. Even as federal and state governments began to encroach on their domain, maritime insurers adapted, preserving their autonomy and authority through extensive involvement in the formation of commercial law. Leveraging their claims to unmatched expertise, they operated free from government interference while simultaneously embedding themselves into the nation’s institutional fabric. By the early nineteenth century, insurers were no longer just risk assessors. They were nation builders and market makers.
Deeply and imaginatively researched, Underwriters of the United States uses marine insurers to reveal a startlingly original story of risk, money, and power in the founding era.
I have the impression that, deep down, she is outraged... Thank you, Hannah, for your courage and your exhaustive research into the "clockwork" of international trade!
this is beautiful .. very much needed insight. seems like insurance companies have far more reach and influence than banks. thank you soo much for sharing. i'm definitely getting a copy of the book ✓
Underwriters are very influential and very hidden
10:00 This is an awesome story 😳
Beautiful presentation, I can see myself enjoying one of your classes, lectures.
I will buy the book.
Along the way, I hope to find out where the insurers of 18th got their money from.
Where they just merchants, or banks who could issue their own bank notes?
Today commercial banks are able to create money by just juggling bank accounts, thanks to electronic banking.
I wonder how the 18th insurers, underwriters came to have those resources they could afford to use to cover losses of other merchants.
Thank you for the video, I found out that investing is not for everybody, you just need a strong stomach too see your portfolio go down. It might be wiser for a novice to start with copy trading investing, but it is not easy. To invest in growth stocks it is another level, definitely you need to know what are you doing.
The transcript is about the history of insurance, specifically marine insurance, in the United States from the 18th to 19th century. It discusses the role of underwriters, who specialize in managing political risks for commercial shipping. The book "Underwriters of the United States" explores how the insurance business and the US government managed each other's risks during a time of high-risk, high-reward commerce. The risks that insurers manage during this time were primarily political, making insurance a fundamentally political business. The transcript highlights the political actions taken by insurers to manage their risks, including lobbying the government and coordinating the behavior of their merchant customers.
So.. in what way does MMT (modern monetary theory) affect the appearance of US solvency in world markets? Negatively? If so, would that be one of the reasons that so many politicians seem to steer clear of any discussion around MMT? Are they all in the pockets of underwriters who have to maintain the framework of a capitalist economic model that has to borrow money to make money and is the soil from which the OPM (other people’s money) idea grew, in order to stay in business?
I like this question
Other People's Money is always necessary whether you work for a wage or run a business or in banking or operate a government regardless of the political underpinnings of its policies.
@@pauladufour7594 I don't agree with that
4:20 😂👏👏👏
6:40 Being born into debt - how Catholic…
I think that in the future that the Insurance Companies will be the ones to decide which sports continue because some sports are dangerous.
CONGRATULATIONS 👏 AND BEST WISHES FROM RAVINDER TALWAR JALANDHAR CITY PUNJAB INDIA 💕
Arrgh., here there be Pirates!
Wow Hannah! So your saying this idea of Laissez-Faire capitalism has always been B.S. It's always been socialism for the wealthy and powerful and rugged survival for everyone else.
Time to invest in insurance companies
😂
Don’t care for France, but thanks.
Underwriters? You mean wealth extractors?
WHY DOES HANNA FARVER SOUND LIKE SHES GOING TO CRY?
She may be a little nervous to reframe history in a way that casts very powerful people and organizations in an unfavorable light, and to do so in such a personal and identifiable way. Alternatively, she may simply be a native introvert, and elucidating the history here in front of a camera is difficult and draining for her.
Her voice is different than others. Duh
I'm glad you said this, as I was thinking the same thing. And yeah, if she is a professor at Columbia, she should be able to present more confidently than this.
Because her hatred for capitalism is almost at the surface.
slavery??
Vote Libertarian 💯 noobs 🔥🔥🔥
Don’t call them noobs - that discouraging.
Was a libertarian, then turned sixteen. GTFU
Hannah sounds like she’s on verge of crying.
For real!!! Is she okay??
She sometimes sounds like she's about to cry, sometimes about to laugh.