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The remarkable and improbable story of the utopian single-tax social experiment that gave rise to one of the most unique and colorful communities along the Gulf Coast

Paul E. and Blanche R. Alyea’s Fairhope, 1894–1954, first published in 1954, is the history of this unique and improbable community and the single-tax social experiment that gave rise to it. This new edition offers an introduction by historian and Fairhope resident Tennant McWilliams, giving invaluable context and entertaining anecdotes not just regarding Fairhope’s founding but about the Alyeas themselves—all to the abiding value of their story for today’s residents and visitors.

On November 15, 1894, a small group of men and women met on a remote stretch of Mobile Bay’s eastern shore to establish a colony. It was a decidedly utopian undertaking in a period characterized by many similar social experiments and ideal communities, most of them failures. This group, which gathered at “Stapleton’s pasture” to found Fairhope, hoped to demonstrate the benefits of the single tax as a means of curing social and economic evils, making a practical test of the doctrines of economist Henry George.

Today, the wealth of parks, public and private schools, art galleries, and restaurants, combined with quaint shops and residential areas and a vibrant nautical life, all attest to Fairhope’s unique position among many older communities in the same region. Its residents represent a diverse array of interests and talents, and with a strong civic regard for individualism and creativity, Fairhope is also a haven for painters, potters, writers, and musicians.

CHOSEN AS ONE OF THE WALL STREET JOURNAL’S 10 BEST BOOKS OF 2025

A definitive history of the United States’ recovery from the Great Depression—and the New Deal's true part in it.

FDR’s New Deal has long enjoyed a special place in American history and policy—both because it redefined the government’s fundamental responsibilities and because Roosevelt’s “bold experimentation” represented a type of policymaking many would like to see repeated.

But “the thing about bold experiments,” economist George Selgin reminds us, “is that they often fail.” In False Dawn Selgin draws on both contemporary sources and numerous studies by economic historians to show that, although steps taken during the Roosevelt administration’s first days raised hopes of a speedy recovery from the Great Depression, instead of fulfilling those hopes, subsequent New Deal policies proved so counterproductive that over seventeen percent of American workers—more than the peak unemployment rate during the COVID-19 crisis—were still either unemployed or on work relief six years later.

By distinguishing the New Deal’s successes from its failures, and explaining how the U.S. finally managed to lay the specter of mass unemployment to rest, Selgin draws salient lessons for dealing with future recessions.

The political decisions made by the founding fathers were crucial to the success of the early republic. But the economic decisions they made were just as pivotal, ensuring the general welfare and common defense of the United States for decades to come. Founding Choices explores these economic choices and their profound influence on American life, westward expansion, and influence abroad. Among the topics covered are finance, trade, and monetary and banking policy, with a focus on the factors guiding those policies and their end result. 

This book redresses the relative neglect of the economic achievements of the founders. It will be essential reading for historians and economists alike.

Recent movements such as the Tea Party and anti-tax “constitutional conservatism” lay claim to the finance and taxation ideas of America’s founders, but how much do we really know about the dramatic clashes over finance and economics that marked the founding of America? Dissenting from both right-wing claims and certain liberal preconceptions, Founding Finance brings to life the violent conflicts over economics, class, and finance that played directly, and in many ways ironically, into the hardball politics of forming the nation and ratifying the Constitution—conflicts that still continue to affect our politics, legislation, and debate today.

Mixing lively narrative with fresh views of America’s founders, William Hogeland offers a new perspective on America’s economic infancy: foreclosure crises that make our current one look mild; investment bubbles in land and securities that drove rich men to high-risk borrowing and mad displays of ostentation before dropping them into debtors’ prisons; depressions longer and deeper than the great one of the twentieth century; crony mercantilism, war profiteering, and government corruption that undermine any nostalgia for a virtuous early republic; and predatory lending of scarce cash at exorbitant, unregulated rates, which forced people into bankruptcy, landlessness, and working in the factories and on the commercial farms of their creditors. This story exposes and corrects a perpetual historical denial—by movements across the political spectrum—of America’s all-important founding economic clashes, a denial that weakens and cheapens public discourse on American finance just when we need it most.

As Preda discovers through extensive research, the public was once much more skeptical. For investing to become accepted, a deep-seated prejudice against speculation had to be overcome, and Preda reveals that over the course of the eighteenth and nineteenth centuries groups associated with stock exchanges in New York, London, and Paris managed to redefine finance as a scientific pursuit grounded in observational technology. But Preda also notes that as the financial data in which they trafficked became ever more difficult to understand, charismatic speculators emerged whose manipulations of the market undermined the benefits of widespread investment. And so, Framing Finance ends with an eye on the future, proposing a system of public financial education to counter the irrational elements that still animate the appeal of finance.