The Boss's “Brains”: Political Capital, Democratic Commerce and the New York Tweed Ring, 1868–1871
Journal of Historical Sociology
Published online on May 20, 2014
Abstract
Departing from Pierre Bourdieu's contention that capital takes on many forms beyond the economic, including a political form, this article examines how commodification patterned nineteenth century American politics. A case study of the Tweed Ring, which briefly governed Gilded Age New York, is reevaluated as a speculative political bubble that produced empirically identifiable political profits. From an election sweep in 1868 to a bank run in 1871, William Tweed gained and lost political power and material wealth through management of what the editorial cartoonist Thomas Nast hailed as the boss's “Brains,” or democratic commerce, the market in political commodities.