Rights statement: https://www.cambridge.org/core/journals/enterprise-and-society/article/inside-and-outside-the-london-stock-exchange-stockbrokers-and-speculation-in-late-victorian-britain/1F013A72845DC657B1C875020E5E7D58 The final, definitive version of this article has been published in the Journal, Enterprise and Society, 22, 3, pp 842-877 2021, © 2020 Cambridge University Press.
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Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - Inside and Outside the London Stock Exchange
T2 - Stockbrokers and Speculation in Late Victorian Britain
AU - Taylor, James
N1 - https://www.cambridge.org/core/journals/enterprise-and-society/article/inside-and-outside-the-london-stock-exchange-stockbrokers-and-speculation-in-late-victorian-britain/1F013A72845DC657B1C875020E5E7D58 The final, definitive version of this article has been published in the Journal, Enterprise and Society, 22, 3, pp 842-877 2021, © 2020 Cambridge University Press.
PY - 2021/9/30
Y1 - 2021/9/30
N2 - The nineteenth-century growth of the London Stock Exchange and the development of the market for stocks and shares are familiar topics of study. This article provides an alternative perspective on them by decentering the London Stock Exchange and focusing instead on the activities of “outside stockbrokers” – those who operated outside the Stock Exchange and its rules. Often regarded as peripheral, these brokers were in fact instrumental in promoting investment and speculation to a mass market. The article examines their innovative methods, and seeks to explain why they were so successful, despite persistent – and sometimes justifiable – accusations of fraud. It suggests how perspectives from the history of consumer society provide fresh insights into the market for financial products. And it underlines the importance of looking outside formal markets, arguing that focusing on “fringe” markets can help us to rethink boundaries, relations, and practices in the history of capitalism.
AB - The nineteenth-century growth of the London Stock Exchange and the development of the market for stocks and shares are familiar topics of study. This article provides an alternative perspective on them by decentering the London Stock Exchange and focusing instead on the activities of “outside stockbrokers” – those who operated outside the Stock Exchange and its rules. Often regarded as peripheral, these brokers were in fact instrumental in promoting investment and speculation to a mass market. The article examines their innovative methods, and seeks to explain why they were so successful, despite persistent – and sometimes justifiable – accusations of fraud. It suggests how perspectives from the history of consumer society provide fresh insights into the market for financial products. And it underlines the importance of looking outside formal markets, arguing that focusing on “fringe” markets can help us to rethink boundaries, relations, and practices in the history of capitalism.
KW - stock market
KW - advertising
KW - business and culture
KW - UK
U2 - 10.1017/eso.2020.23
DO - 10.1017/eso.2020.23
M3 - Journal article
VL - 22
SP - 842
EP - 877
JO - Enterprise and Society
JF - Enterprise and Society
SN - 1467-2227
IS - 3
ER -