"A fabulous book. The arguments about its broad themes are compelling, the attention to detail is overwhelming but absolutely necessary and the lessons drawn are important."--Ruben Lee, Financial News
"By demonstrating that in this crucial period, in this crucial market, politics affected 'economic' behavior, Carruthers poses important questions for sociologists and economists. There is plenty here for historians, too. His reflections on the social meaning of debt relations and of economic exchange, for example, have wider implications for our understanding of the early modern economy."--Michael Braddick, American Historical Review
From the Publisher
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. --This text refers to an out of print or unavailable edition of this title.