America's history is the history of business

14 minutes

•  The Bizgnus time machine gears up for a remarkable podcast

•  “Business and politics were more overtly intertwined”

(Total Recorded Time is 17:06)

Longtime members of the Bizgnus audiences will be delighted to note that we have finally recharged the batteries on the company’s Wayback machine and it has taken us back in time by two centuries to the 1820s in the United States.

Actually, it is not the dusty Wayback machine which has never worked for us but a remarkable new book, “An Illustrated Business History of the United States,” (University of Pennsylvania Press, May 2021) by the Secretary of Banking and Securities for the state of Pennsylvania, Richard Vague.

One of the continuous threads of the American economy, from founding to present day, is real estate, he says.

“Real estate continues to be a huge part of the U.S. story because the uses of real estate are always being transformed,” says Mr. Vague.  “We’ve seen that happen right before our eyes during the pandemic when the use of commercial office space has diminished but at the same time, we’re seeing a boom in the use of real estate for internet companies as storage and distribution facilities.”

The book covers U.S. history from the founding to about 2015.  In it, the reader will find not just data, but example upon example of life in various epochs.

“Warren Delano, Jr., grandfather of President Franklin Delano Roosevelt, made a fortune selling opium in China, and this wealth made up a substantial part of the inheritance that he passed down to Franklin,” Mr. Vague writes. might also hear of the opening of a canl connecting the Great Lakes to the Hudson River and thus New York City. “The Erie Canal was the most important and transformational business achievement in early American history,” Mr. Vague says in his book

Please click here to watch our Bizgnus interview: https://youtu.be/CjkMNhOlDQU

And something often “overlooked” in today’s political arguments was central to the growth of the nation. “Business and politics were more overtly intertwined in this era. Everyone admired U.S. senator and attorney Daniel Webster for his intelligence, rhetorical power, and knowledge of constitutional law. But as senator, Webster sent a private law client a bill because he had inserted an amendment favorable to that client’s interests into a piece of legislation. No one at that time viewed this as a conflict or an ethical transgression,” writes Mr. Vague.

Richard Vague’s day job is Pennsylvania Banking and Securities Secretary. Prior to his 2020 appointment, he was managing partner of Gabriel Investments and chairman of the Governor’s Woods Foundation, a nonprofit philanthropic organization. Previously, he was co-founder, chairman and CEO of Energy Plus, an electricity and natural gas company. Vague was also co-founder and CEO of two banks and founder of the economic data service Tychos.

His new book is “An Illustrated Business History of the United States” (University of Pennsylvania Press, May 2021).

For more information:   richardvague.com

More episodes from The Bizgnus Podcast

A different way to get out of debt and build wealth

•  Mark Willis says people should bank on themselves

•  “When do we ever stop to think about our wants and needs are for ourselves?”

Author and …

For better communications at work try talking with your kids at home


•  New techniques can be applied at home and work

•  “We’d like to think we’re good listeners, but….”

(Total Recorded Time is 6:16)

If you’re trying to communicate better at work, perhaps …

Writer offers insights to newby authors

•  What Hemmingway can teach beginning authors

•  “If you want to be a professional, you’ve got to treat it like a job”

(Total Recorded Time is 27:24)

So you think you can write a book?  If …

Using your HQ to reach new levels of success

•  New brain patterns can help shed limiting beliefs

•  “Everything is based around energy. Everything”

(Total Recorded Time is 16:15)

We’ve heard about IQ.  And EQ.  Now, says veteran …

A torturous path to a spiritual awakening

•  Cult victim grows into a meditation teacher and yoga guru

•  MahanKirn Khalsa talks about her life

From poverty and degradation to worldwide …

A life well-spent by an ‘unimportant’ girl

•  Survivor of war-torn Berlin recounts life’s lessons

•  An ironic twist to Hitler’s car

For many younger people, the horrors of World War Two are something read about in a history book. …

How you can listen to this podcast

You can listen to episodes right here on the website, or if you prefer, in a podcast app. Listening in an app makes it easier to keep track of what you’ve already heard, listen without using your data plan and many other conveniences.

Recommended apps
Start listening to A different way to get out of debt and build wealth
14:31
Start listening to A different way to get out of debt and build wealth
14:31