Coverart for item
The Resource City of capital : politics and markets in the English financial revolution, Bruce G. Carruthers

City of capital : politics and markets in the English financial revolution, Bruce G. Carruthers

Label
City of capital : politics and markets in the English financial revolution
Title
City of capital
Title remainder
politics and markets in the English financial revolution
Statement of responsibility
Bruce G. Carruthers
Creator
Subject
Language
eng
Summary
While many have examined how economic interests motivate political action, Bruce Carruthers explores the reverse relationship in political economy by focusing on how political interests shape a market. The author 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. He 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
Cataloging source
DLC
http://library.link/vocab/creatorName
Carruthers, Bruce G
Illustrations
illustrations
Index
index present
LC call number
HG5432
LC item number
.C37 1996
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/subjectName
  • Bank of England
  • East India Company
  • South Sea Company
  • Capital market
  • Capital market
  • Great Britain
  • Great Britain
Label
City of capital : politics and markets in the English financial revolution, Bruce G. Carruthers
Instantiates
Publication
Bibliography note
Includes bibliographical references (pages [267]-298) and index
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
33983363
Dimensions
25 cm
Extent
xiv, 303 pages
Isbn
9780691044552
Isbn Type
(hbk. : alk. paper)
Lccn
95053190
Media category
unmediated
Media MARC source
rdamedia
Media type code
n
Other physical details
illustrations
Label
City of capital : politics and markets in the English financial revolution, Bruce G. Carruthers
Publication
Bibliography note
Includes bibliographical references (pages [267]-298) and index
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
33983363
Dimensions
25 cm
Extent
xiv, 303 pages
Isbn
9780691044552
Isbn Type
(hbk. : alk. paper)
Lccn
95053190
Media category
unmediated
Media MARC source
rdamedia
Media type code
n
Other physical details
illustrations

Library Locations

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