The Speculation Economy: How Finance Triumphed Over Industry
Berrett-Koehler Publishers | 2008-11-01 | ISBN: 1576756289 | 395 pages | PDF | 1 MB



American businesses today are obsessed with the price of their stock,and no wonder. The consequences of even a modest decrease can be sodire that some executives would rather damage their corporation'slong-term health than allow quarterly returns to fall belowprojections. But how did this situation come about? When did the stockmarket become the driver of the American economy? Lawrence E. Mitchellidentifies the moment in American history when finance triumphed overindustry. He shows how the birth of the giant modern corporationspurred the rise of the stock market and how, by the dawn of the 1920s,the stock market left behind its business origins to become the veryreason for the creation of business itself.