Frederick Lewis Allen

Looks at the changes in American society during the first half of the twentieth century.

America Transforms Itself, 1900-1950

The Big Change

The story of the immense fianacial and corporate expansion which took place in the United States between the depression of the eighteen-nineties and the crisis of the nineteen-thirties.

The Lords of Creation

A history of roaring prosperity—and economic cataclysm: “The one account of America in the 1920s against which all others must be measured” (The Washington Post). Beginning November 11, 1918, when President Woodrow Wilson declared the end of World War I in a letter to the American public, and continuing through his defeat, Prohibition, the Big Red Scare, the rise of women’s hemlines, and the stock market crash of 1929, Only Yesterday, published just two years after the crash, chronicles a decade like no other. Allen, who witnessed firsthand the events he describes, immerses you in the era of flappers, speakeasies, and early radio, making you feel like part of history as it unfolds. This bestselling, enduring account brings to life towering historical figures including J. Pierpont Morgan, Henry Ford, Sigmund Freud, Albert Einstein, Al Capone, Babe Ruth, and Jack Dempsey. Allen provides insightful, in-depth analyses of President Warren G. Harding’s oil scandal, the growth of the auto industry, the decline of the family farm, and the long bull market of the late twenties. Peppering his narrative with actual stock quotes and breaking financial news, Allen tracks the major economic trends of the decade and explores the underlying causes of the crash. From the trial of Nicola Sacco and Bartolomeo Vanzetti to the inventions, crazes, and revolutions of the day, this timeless work will continue to be savored for generations to come.

An Informal History of the 1920s

Only Yesterday

Big Change

A revealing biography of J. P. Morgan, one of the most powerful and enigmatic financiers in history, from bestselling author Frederick Lewis Allen. Celebrated as a titan of industry by some and decried as a monopolizing robber baron by others, John Pierpont Morgan was without a doubt a dominant player in American finance at the turn of the twentieth century. He founded U.S. Steel, a conglomeration of leading steel and iron producers, which was the nation’s largest coast-to-coast railroad system, and the first company to be worth more than $1 billion. Morgan was also instrumental in developing the Federal Reserve after working with political leaders to prevent a potentially devastating fiscal crisis in 1907. Indeed, he was a driving force in the modernization of American business, and the effects of his acumen and foresight continue to resonate today—on Wall Street and beyond. Additionally, known for his displays of wealth and power, Morgan was a prominent figure of the New York society scene—a member of the original one percent—as well as a notable art connoisseur with a sizable collection now housed in Manhattan’s lavish Morgan Library & Museum, once his own private library. In this meticulously researched and comprehensive biography, Frederick Lewis Allen, former editor of Harper’s magazine and author of Only Yesterday, delves into the life and character of a fascinating, multidimensional man. Allen also probes the evolution of the business landscape during Morgan’s lifetime, when giant corporations with unparalleled economies of scale began to absorb and replace smaller competitors. This richly detailed portrait of a man whose name is inseparable from American finance is essential reading for anyone seeking a deeper understanding of banking and business history.

Frederick Lewis Allen

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