The equity culture : the story of the global stock market / B. Mark Smith.

Format:

Book

Author/Creator:

Smith, B. Mark, 1953-

Language:

English

Subjects (All):

Stock exchanges.

Stocks.

Securities.

Physical Description:

344 pages ; 24 cm

Edition:

First edition.

Place of Publication:

New York : Farrar, Straus and Giroux, 2003.

Summary:

An Expert Chronicle of the Market's Ever-Growing Role Worldwide The modern stock market, B. Mark Smith's new book makes clear, is only one component of a much broader "equity culture"--a lively and complex international market involving stocks, bonds, mutual funds; joint stock and limited liability corporations; and trading in grain, gold, diamonds, and currency. "The Equity Culture is the story of how that market came about--from shipping magnates banding together in eighteenth-century India to the railroad robber barons of nineteenth-century America to currency traders such as George Soros. Smith's spirited and colorful telling makes two points especially clear: that the equity culture has always been international, with globalization as merely its current phase; and that the equity culture is often surprisingly self-adjusting, with "manias, panics, and crashes" making possible ever greater risk and innovation.

Contents:

1. A Financial Revolution 9

2. Bubbles 24

3. The New World 47

4. The Railroads and the Middle Class 66

5. A Global Stock Market 86

6. A New Era 105

7. Crash 124

8. Bretton Woods 143

9. Chaos 170

10. Return of the Bull 193

11. Volatility 221

12. Emerging Markets 242

13. Contagion 262

14. Stock Market Capitalism 289.

Notes:

Includes bibliographical references (pages [317]-330) and index.

ISBN:

0374281750

OCLC:

51631413

Online:

Publisher description