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The Government of Markets

Part of the Palgrave Studies in the History of Finance Book Series

DOI: 10.1007/978-3-319-93184-5

ISBN: 978-3-319-93183-8

Publisher: Springer International Publishing - Springer Journals

Dec 22, 2018

LitStream

Chapter 1Introduction: The Interwar Coming of Age of Modern Futures Markets, Institutions and Governance

Saleuddin, Rasheed

Pages: 1 –49

[This introduction to the story of how US government and industry co-constructed many critical modern futures institutions and governance during the interwar years begins with a scene that took place in 1922. Soon after the first (grain—especially wheat and corn) futures regulation was passed,...
LitStream

Chapter 2The Wild Midwest

Saleuddin, Rasheed

Pages: 51 –86

[This chapter introduces the business, institutional and governance problems at the Chicago Board of Trade (CBOT) during the interwar years. After World War I, the grain markets reopened in total chaos while, at the same time, the Board was under threat from (legal and illegal) competition, US...
LitStream

Chapter 3The Grain Futures Act of 1922 and the Dominance of the CBOT

Saleuddin, Rasheed

Pages: 87 –148

[Congress passed the Grain Futures Act in 1922 soon after the Crisis of 1921, when wheat prices fell more than half. Contrary to the accepted view that the regulation was a failed attempt to control the markets, the legislation was almost fully ‘captured’ by the Chicago Board of Trade (CBOT). The...
LitStream

Chapter 4The Co-construction of Modern Futures Markets, 1923–1926

Saleuddin, Rasheed

Pages: 149 –219

[One key result of the weak Grain Futures Act of 1922 was the formation of a new technocratic overseer that was allowed to investigate suspected manipulation and fraud, and make detailed reports to the public, grain market users and Congress. During most of the interwar years, the US...
LitStream

Chapter 5Legitimising the Grain Gambler and the Commodity Exchange Act of 1936

Saleuddin, Rasheed

Pages: 221 –278

[The efforts of the bureaucrats to gather, process and understand market information as well as make accurately reports contributed to a much better understanding of what new regulations were needed when a ‘policy window’ for new legislation opened after the failure of the first Agricultural...
LitStream

Chapter 6The Legacy, Causes and Relevance of Interwar Futures Market Regulation

Saleuddin, Rasheed

Pages: 279 –299

[This chapter concludes the study by (i) summarising the innovations in institutions and governance that took place in the interwar years, (ii) outlining what the private archival record demonstrated to be the key causes of said evolution, (iii) detailing the legacy of the interwar years and (iv)...

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