How to Build a Stock Exchange : The Past, Present and Future of Finance

Why is finance so important? How do stock markets work and what do they really do? Most importantly, what might finance be and what could we expect from it? Exploring contemporary finance via the development of stock exchanges, markets and the links with states, Roscoe mingles historical and technical detail with humorous anecdotes and lively portraits of market participants. Deftly combining research and autobiographical vignettes, he offers a cautionary tale about the drive of financial markets towards expropriation, capture and exclusion. Positioning financial markets as central devices in the organisation of the global economy, he includes contemporary concerns over inequality, climate emergency and (de)colonialism and concludes by wondering, in the market’s own angst-filled voice, what the future for finance might be, and how we might get there. Why is finance so important? How do stock markets work and what do they really do? Most importantly, what might finance be and what could we expect from it? Exploring contemporary finance via the development of stock exchanges, markets and the links with states, Roscoe mingles historical and technical detail with humorous anecdotes and lively portraits of market participants. Deftly combining research and autobiographical vignettes, he offers a cautionary tale about the drive of financial markets towards expropriation, capture and exclusion. Positioning financial markets as central devices in the organization of the global economy, he includes contemporary concerns over inequality, climate emergency and (de)colonialism and concludes by wondering, in the market's own angst-filled voice, what the future for finance might be, and how we might get there. Front Cover Half title Series information How to Build a Stock Exchange: The Past, Present and Future of Finance Copyright information Dedication Table of Contents Acknowledgements Prologue: A Bad Kind of Magic? 1 Why We Should Care about Finance Part I How the Markets Became 2 From Future Pigs to Present Prices, a Chicago Story 3 King William’s Overdraft 4 Mind Your Eye! 5 God Bless Margaret Thatcher Part II The Spectacular Science of Money 6 Finding Prices, Making Prices 7 Where Real Men Make Real Money 8 Wires! Shocks! Sausages! Part III Opportunity Lost 9 Other People’s Money 10 Fear and Loathing on Wall Street 11 The Burden of Empire 12 Extractive Industries Part IV Financial Futures 13 Finance Takes Flight 14 The Temples of Capitalism Epilogue: The Market Replies References Index Exploring the development of stock exchanges, markets and the links with states, in this book Roscoe offers a cautionary tale about the drive of financial markets towards expropriation, capture and exclusion and wonders what the future for finance might be, and how we might get there.