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Todd McGowan forges a new theory of capitalism as a system based on the production of more than what we need: pure excess. He argues that the promise of more wealth, more enjoyment, more opportunity, without requiring any sacrifice is the essence of capitalism. Previous socioeconomic systems set up some form of the social good as their focus. Capitalism, however, represents a revolutionary turn away from the good and the useful toward excessive growth, which now threatens the habitability of the planet.

During the first quarter-century after its founding, the United States was swept by a wave of land speculation so unprecedented in intensity and scale that contemporaries and historians alike have dubbed it a “mania.” In Speculation Nation, Michael A. Blaakman uncovers the revolutionary origins of this real-estate bonanza—a story of ambition, corruption, capitalism, and statecraft that stretched across millions of acres from Maine to the Mississippi and Georgia to the Great Lakes.