While many have examined how economic interests motivate political action, Bruce Carruthers explores the reverse relationship by focusing on how political interests shape a market. He sets his inquiry within the context of late Stuart England, when an active stock market emerged and when Whig and Tory parties vied for control of a newly empowered Parliament. Carruthers examines the institutional linkage between politics and the market that consisted of three joint-stock companies--the Bank of England, the East India Company ...
Read More
While many have examined how economic interests motivate political action, Bruce Carruthers explores the reverse relationship by focusing on how political interests shape a market. He sets his inquiry within the context of late Stuart England, when an active stock market emerged and when Whig and Tory parties vied for control of a newly empowered Parliament. Carruthers examines the institutional linkage between politics and the market that consisted of three joint-stock companies--the Bank of England, the East India Company, and the South Sea Company--which all loaned large sums to the government and whose shares dominated trading on the stock market. Through innovative research that connects the voting behavior of individuals in parliamentary elections with their economic behavior in the stock market, Carruthers demonstrates that party conflict figured prominently during the company foundings as Whigs and Tories tried to dominate company directorships. For them, the national debt was as much a political as a fiscal instrument. In 1712, the Bank was largely controlled by the Whigs, and the South Sea Company by the Tories. The two parties competed, however, for control of the East India Company, and so Whigs tended to trade shares only with Whigs, and Tories with Tories. Probing such connections between politics and markets at both institutional and individual levels, Carruthers ultimately argues that competitive markets are not inherently apolitical spheres guided by economic interest but rather ongoing creations of social actors pursuing multiple goals.
Read Less
Add this copy of City of Capital to cart. $45.00, very good condition, Sold by Satellite Books rated 5.0 out of 5 stars, ships from Burlington, VT, UNITED STATES, published 1996 by Princeton University Press.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
Very Good. Size: 9x6x1; Hardcover. Very Good+ / Very Good+ dust jacket. Free of any markings and no writings inside. For any additional information or pictures, please inquire.
Add this copy of City of Capital: Politics and Markets in the English to cart. $150.61, very good condition, Sold by Open Books Ltd rated 4.0 out of 5 stars, ships from Chicago, IL, UNITED STATES, published 1999 by Princeton University Press.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
Very good. Open Books is a nonprofit social venture that provides literacy experiences for thousands of readers each year through inspiring programs and creative capitalization of books.
Add this copy of City of Capital: Politics and Markets in the English to cart. $150.62, very good condition, Sold by More Than Words rated 4.0 out of 5 stars, ships from Waltham, MA, UNITED STATES, published 1999 by Princeton University Press.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
Very Good. 9781562476663. All orders9781501153198 guaranteed and ship within 24 hours. Your purchase supports More Than Words, a nonprofi t job training program for youth, empowering youth to take charge of their lives by taking charge of a business.
