Download e-book for iPad: The Cotton Kings: Capitalism and Corruption in by Bruce E. Baker,Barbara Hahn

By Bruce E. Baker,Barbara Hahn

The Cotton Kings relates a colourful monetary drama with remarkable parallels to modern American fiscal debates. on the flip of the 20th century, cheating cotton agents used undesirable details to decrease costs at the futures marketplace, impoverishing thousands of farmers. To struggle this corruption, a small team of agents sought to regulate the cost of cotton on unregulated exchanges in long island and New Orleans. They triumphed, cornering the area marketplace in cotton and elevating its fee for years. notwithstanding, the structural difficulties of self-regulation through marketplace members persevered to threaten the cotton alternate until political strain encouraged federal legislation. within the type of the Cotton Futures Act of 1914, the government stamped out corruption at the exchanges, aiding hundreds of thousands of farmers and cloth manufacturers.

Combining a gripping narrative with the debatable argument that markets paintings higher while put less than federal legislation, The Cotton Kings brings to mild a hardly advised tale that speaks on to modern conflicts among unfastened markets and regulation.

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The Cotton Kings: Capitalism and Corruption in Turn-of-the-Century New York and New Orleans by Bruce E. Baker,Barbara Hahn


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