BOOK NOTES AND ACKNOWLEDGMENTS
The title of the book, The Triumph of American Capitalism,
by Louis M. Hacker (New York: Simon and Schuster, 1940;
pp. x, 460; $3.00), is somewhat misleading. It connotes a
glorification of capitalism. However, it is not a defense of capi-
talistic endeavor or of free private enterprise. It is essentially
a historical treatise of the role capital has played in American
economy from the Mayflower to the New Deal. The book is
well written. It is an excellent piece of descriptive history cov-
ering the parts that capital, finance, and profits have played in
the drama of America's industrial triumphs. Persons interested
in that phase of our country's economic history should read
E. E. DAVIS.
North Texas Agricultural College.
America's Economic Growth, by Fred Albert Shannon (New
York: The Macmillan Company, 1940; pp. vii, 876; $3.75), ap-
pears as a revised edition of the earlier Economic History of the
People of the United States. Intended for the usual one-semester
course, this revision, although considerably abridged, remains
too long to avoid competition from more comprehensive, if less
interestingly written texts, designed for the full year course.
Professor Shannon has presented, in large measure, the in-
stitutional as opposed to the classical economic interpretations.
His judgments therefore will meet from historians the dis-
agreement which he anticipates. The advertent emphasis upon
technology as the fashioner of institutions is amateurish. But
until an engineer becomes historically minded or an historian
becomes an engineer, Professor Shannon's affusion to show the
interactions of the dichotomy advanced by Veblen will doubt-
less remain among the best text-book explanations. A twenty-
seven page critical comment on authorities, topically arranged, is
Texas State Historical Association. The Southwestern Historical Quarterly, Volume 44, July 1940 - April, 1941. Austin, Texas. The Portal to Texas History. http://texashistory.unt.edu/ark:/67531/metapth146052/. Accessed June 2, 2015.