Cover: When Wall Street Met Main Street: The Quest for an Investors' Democracy, from Harvard University PressCover: When Wall Street Met Main Street in PAPERBACK

When Wall Street Met Main Street

The Quest for an Investors' Democracy

Add to Cart

Product Details

PAPERBACK

$20.00 • £16.95 • €18.00

ISBN 9780674417021

Publication Date: 09/01/2014

Text

352 pages

6-1/8 x 9-1/4 inches

World

The financial crisis that began in 2008 has made Americans keenly aware of the enormous impact Wall Street has on the economic well-being of the nation and its citizenry. How did financial markets and institutions—commonly perceived as marginal and elitist at the beginning of the twentieth century—come to be seen as the bedrock of American capitalism? How did stock investment—once considered disreputable and dangerous—first become a mass practice?

Julia Ott tells the story of how, between the rise of giant industrial corporations and the Crash of 1929, the federal government, corporations, and financial institutions campaigned to universalize investment, with the goal of providing individual investors with a stake in the economy and the nation. As these distributors of stocks and bonds established a broad, national market for financial securities, they debated the distribution of economic power, the proper role of government, and the meaning of citizenship under modern capitalism.

By 1929, the incidence of stock ownership had risen to engulf one quarter of American households in the looming financial disaster. Accordingly, the federal government assumed responsibility for protecting citizen-investors by regulating the financial securities markets. By recovering the forgotten history of this initial phase of mass investment and the issues surrounding it, Ott enriches and enlightens contemporary debates over economic reform.

Recent News

From Our Blog

Jacket: The Number of the Heavens: A History of the Multiverse and the Quest to Understand the Cosmos, by Tom Siegfried, from Harvard University Press

Q&A with Tom Siegfried, author of The Number of the Heavens: A History of the Multiverse and the Quest to Understand the Cosmos

In The Number of the Heavens, Tom Siegfried, the award-winning former editor of Science News, shows that one of the most fascinating and controversial ideas in contemporary cosmology—the existence of multiple parallel universes—has a long and divisive history that continues to this day. We spoke to him about the possible existence of a multiverse and the co

‘manifold glories of classical Greek and Latin’

The digital Loeb Classical Library (loebclassics.com) extends the founding mission of James Loeb with an interconnected, fully searchable, perpetually growing virtual library of all that is important in Greek and Latin literature.