Format:
1 Online-Ressource (xi, 240 pages)
,
digital, PDF file(s)
ISBN:
9780511550010
Content:
In The Wealth of Nations Rediscovered: Integration and Expansion in American Financial Markets, 1780–1850, Robert E. Wright portrays the development of a modern financial sector - with a central bank, a national monetary system, and efficient capital markets - as the driving force behind America's economic transition from agricultural colony to industrial juggernaut. This study applies the economic theory of information asymmetry to our understandings of early US financial development, expanding on scholarship of finance-led economic growth. The book's research is original, incorporating little-used archival material and data on early US securities prices, trading volumes, and stockholder patterns. The topics covered - securities trading, market liquidity, intermediation, banking reform, emerging market success, and foreign investment - are relevant to discussions in today's business community. Drawing from and building upon Adam Smith's lesser-known insights into financial relationships, The Wealth of Nations Rediscovered positions itself on the cusp of emerging paradigm shifts in history and economics
Content:
Introduction: The Wealth of Nations and National wealth -- The international and colonial Background of America's financial revolution -- Banks, securities markets, and the reduction of Asymmetric Information -- The financial sector and the reduction of lending-related costs and risks -- Evidence of capital market Integration, 1800-1850 -- Expansion of the securities services sector, 1790-1850 -- The freest of the free: regulation of the financial sector -- Finance-directed economic movement -- Conclusion: the wealth of nations rediscovered
Note:
Title from publisher's bibliographic system (viewed on 05 Oct 2015)
Additional Edition:
ISBN 9780521812375
Additional Edition:
ISBN 9780521120395
Additional Edition:
Erscheint auch als Druck-Ausgabe ISBN 9780521812375
Language:
English
DOI:
10.1017/CBO9780511550010
URL:
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