The Speculation Economy
Subtitle: How Finance Triumphed Over Industry (BK Currents)
Publisher: Berrett-Koehler Publishers
Published: October 1, 2007
Language: eng
Format: Hardcover
Number of pages: 355
ISBN-13: 9781576754009
Subjects: Business & Management; Business & Economics; Business / Economics / Finance; Business/Economics; Economic History; Business & Economics / Economic History; Economic policy; Speculation; Globalization; Management - General; Corporations; Finance; Industries; United States
Description: Mitchell explains when, how, and why the stock market became the driving force of the American economy. Starting in the first decade of the 20th century, he tells the story of the legal, financial, economic, and social changes that allowed financiers to create large corporations for the main purpose of manufacturing stock and dumping it on the market. He shows how the federal government, wedded to an outdated economic model, failed to regulate finance and thus missed the chance to control corporations.