A great collection of essays from a 2004 economics conference which ask why the US changed from one of the putatively most corrupt nations on earth to one of the most transparent. The motivating though oft unspoken question here is whether corrupt third world nations today can do the same and enjoy the same kind of success and growth.
Rebecca Menes's article on "Graft and Growth" actually shows that the US was not quite as corrupt as some claimed. Although there were certainly patronage issues and omnipresent featherbedding, democratic accountability insured that roads were actually built, canals dug, and taxes collected. Rapacious regimes like Tweed's were the exception. Engermann and Sokoloff's article shows that cost overruns on public projects are significantly higher today than way back when. Other articles point to the federalization of inspection laws and relief systems as a means of obviating corruption.
There are a few problems with the book. While some of the economic models are elegant mathematically, they could use more history to buttress their assumptions. The authors also seem to take insufficient time considering contemporary historical work on their issues and in consequence recover old territory. Still, it is encouraging to see economists turn to American history to solve contemporary problems, and the empirical rigor they bring to these questions should be more widely used in the historical field.