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Investing in Life Sharon Ann Murphy (Providence College)

Investing in Life By Sharon Ann Murphy (Providence College)

Summary

She discusses the role of consumers-their reasons for purchasing life insurance, their perceptions of the industry, and how their desires and demands shaped the ultimate product.

Investing in Life Summary

Investing in Life: Insurance in Antebellum America by Sharon Ann Murphy (Providence College)

Investing in Life considers the creation and expansion of the American life insurance industry from its early origins in the 1810s through the 1860s and examines how its growth paralleled and influenced the emergence of the middle class. Using the economic instability of the period as her backdrop, Sharon Ann Murphy also analyzes changing roles for women; the attempts to adapt slavery to an urban, industrialized setting; the rise of statistical thinking; and efforts to regulate the business environment. Her research directly challenges the conclusions of previous scholars who have dismissed the importance of the earliest industry innovators while exaggerating clerical opposition to life insurance. Murphy examines insurance as both a business and a social phenomenon. She looks at how insurance companies positioned themselves within the marketplace, calculated risks associated with disease, intemperance, occupational hazard, and war, and battled fraud, murder, and suicide. She also discusses the role of consumers-their reasons for purchasing life insurance, their perceptions of the industry, and how their desires and demands shaped the ultimate product.

Investing in Life Reviews

A well-written, well-argued book that makes a number of important contributions to the history of business and capitalism in antebellum America. -- Sean H. Vanatta Common-Place An intriguing, instructive history of the establishment and development of the life insurance industry that reveals a good deal about changing social and commercial conditions in antebellum America... Highly recommended. Choice Investing in Life: Insurance in Antebellum America is an exemplary piece of scholarship that upon publication immediately became the standard work in the field. -- Peter A. Coclanis Civil War Book Review Informative... Murphy's account indicates that virtually every issue and problem faced by the modern life insurance industry was present at its beginnings two centuries ago. -- Richard Sylla Journal of American History This book makes a fine contribution to the study of the history of the insurance business. -- Eric Hilt EH.Net A meticulous history of a significant but understudied event in the making of liberalism, the invention of life insurance. -- Michael Zakim Journal of the Early Republic Murphy has filled a gap in the historiography of American life insurance by mining the records of several companies that shaped the industry from 1830 through the Civil War... In pursuing her arguments, she discloses an impressive array of insights that shed light on American business and culture more generally. -- Timothy Alborn Business History Review In this sparkling volume, Sharon Ann Murphy makes an enormous contribution to scholarship in a wide range of fields... Murphy's careful and close examination of life insurance as a new and vital safety valve for thousands of emerging middle-class households touches on just about every niche in the historical panorama... I highly recommend this wide-ranging and multifaceted survey of the rise of the life insurance sector, its customers, and its beneficiaries. -- Edwin J. Perkins American Historical Review This under described state is the part of what makes Investing in Life so rewarding, but the book is carefully crafted enough to hold its own in any case. -- Liz McFall Enterprise and Society A highly readable book detailing the rise of the American insurance industry up to and through the Civil War... Important and provocative. -- Richard Sutch Journal of Economic History A very thorough examination of the birth and growth of the life insurance industry in America from the early 1800s through the Civil War. The author's research is exceptional... In short, this excellent book provides a look at matters of life and death in the Civil War era that you may not have considered before. -- James Schmidt Civil War Medicine (and Writing)

About Sharon Ann Murphy (Providence College)

Sharon Ann Murphy is an associate professor of history at Providence College.

Table of Contents

Series Editor's Foreword
Acknowledgments
Introduction: New Risks in a Changing World
Part I: The Creation of an Industry
1. Understanding Mortality in Antebellum America: The Search for a Stable Business Model
2. Selecting Risks in an Anonymous World: The Development of the Agency System
3. Lying, Cheating, and Stealing versus The Court of Public Opinion: Preventing Moral Hazard and Insurance Fraud
4. The Public Interest in a Private Industry: Life Insurance and the Regulatory-Promotional State
Part II: Reaching Out to the Middle Class
5. Protecting Women and Children in the hour of their distress: Targeting the Fears of an Emerging Middle Class
6. Targeting the Aspirations of an Emerging Middle Class: The Triumph of Mutual Life Insurance Companies
7. Securing Human Property: Slavery, Industrialization, and Urbanization in the Upper South
8. Acting in defiance of Providence? The Public Perception of Life Insurance
Part III: Cooperation, Competition, and the Quest for Stability
9. Seeking Stability in an Increasingly Competitive Industry: The Creation of the American Life Underwriters' Convention
10. Insuring Soldiers, Insuring Civilians: The Civil War as a Watershed for the Life Insurance Industry
11. The Perils of Success during the Postbellum Years
Conclusion: Have you provided for your Family an Insuranceon your Life?
Appendix
Notes
Essay on Sources
Index

Additional information

NLS9781421411941
9781421411941
1421411946
Investing in Life: Insurance in Antebellum America by Sharon Ann Murphy (Providence College)
New
Paperback
Johns Hopkins University Press
2013-12-27
416
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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