The Cotton Kings
Download and Read The Cotton Kings full books in PDF, ePUB, and Kindle. Read online free The Cotton Kings ebook anywhere anytime directly on your device. We cannot guarantee that every ebooks is available!
The Cotton Kings
Author | : Bruce E. Baker |
Publisher | : Oxford University Press |
Total Pages | : 233 |
Release | : 2015-11-05 |
Genre | : History |
ISBN | : 0190211660 |
Download The Cotton Kings Book in PDF, Epub and Kindle
The Cotton Kings relates a colorful economic drama with striking parallels to contemporary American economic debates. At the turn of the twentieth century, dishonest cotton brokers used bad information to lower prices on the futures market, impoverishing millions of farmers. To fight this corruption, a small group of brokers sought to control the price of cotton on unregulated exchanges in New York and New Orleans. They triumphed, cornering the world market in cotton and raising its price for years. However, the structural problems of self-regulation by market participants continued to threaten the cotton trade until eventually political pressure inspired federal regulation. In the form of the Cotton Futures Act of 1914, the federal government stamped out corruption on the exchanges, helping millions of farmers and textile manufacturers. Combining a gripping narrative with the controversial argument that markets work better when placed under federal regulation, The Cotton Kings brings to light a rarely told story that speaks directly to contemporary conflicts between free markets and regulation.
The Cotton Kings Related Books
Pages: 233
Pages: 233
Pages: 930
Pages: 550
Pages: 385