A World of Chance - Betting on Religion, Games, Wall Street (Paperback, 2 Rev Ed)

Although financial markets often try to distance themselves from gambling, the two factors have far more in common than usually thought. When, historically there were no financial institutions such as banks, lotteries constituted the ways by which expensive items were disposed of, and governments raised money quickly. Gambling tables fulfilled roles that venture capital and banking do today. "Gamblers" created clearinghouses and sustained liquidity. When those gamblers bet on price distributions in futures markets, they were redefined as "speculators." Today they are called "hedge fund managers" or "bankers." Though the names have changed, the actions undertaken have essentially stayed the same. This book shows how discussion on "chance," "risk," "gambling," "insurance," and "speculation" illuminates where societies stood, where we are today, and where we may be heading.

General

Imprint:	Cambridge UniversityPress
Country of origin:	United Kingdom
Release date:	August 2008
First published:	July 2008
Authors:	Reuven Brenner (Professor) • Gabrielle A. Brenner (Professor) • Aaron Brown
Dimensions:	229 x 152 x 25mm (L x W x T)
Format:	Paperback - Trade
Pages:	358
Edition:	2 Rev Ed
ISBN-13:	978-0-521-71157-9
Categories:	Books > Business & Economics > Finance & accounting > Finance > Investment & securities > General Books > Money & Finance > Investment & securities > General
LSN:	0-521-71157-6
Barcode:	9780521711579

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