Title: Freaks of Fortune The Emerging World of Capitalism and Risk in America
Publisher: Harvard Univ Pr
Publication Date: 2012
Language: English
ISBN 10: 0674047486
ISBN 13: 9780674047488
Binding: Hardcover
Condition: Brand New
Weight: 0.75 kilograms

About this title

Synopsis

Until the early nineteenth century, ";risk"; was a specialized term: it was the commodity exchanged in a marine insurance contract. Freaks of Fortune tells the story of how the modern concept of risk emerged in the United States. Born on the high seas, risk migrated inland and became essential to the financial management of an inherently uncertain capitalist future.Focusing on the hopes and anxieties of ordinary people, Jonathan Levy shows how risk developed through the extraordinary growth of new financial institutions��insurance corporations, savings banks, mortgage-backed securities markets, commodities futures markets, and securities markets��while posing inescapable moral questions. For at the heart of risk’s rise was a new vision of freedom. To be a free individual, whether an emancipated slave, a plains farmer, or a Wall Street financier, was to take, assume, and manage one’s own personal risk. Yet this often meant offloading that s

About the Author

Jonathan Levy is Associate Professor of History at the University of Chicago.

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