The Telegraph and Stock Exchanges: How Innovations in Communications Technology Influenced Regional Exchanges in the United States, 1830–1860 (Palgrave Studies in Economic History) - Softcover
Buch 104 von 104: Palgrave Studies in Economic History
Inhaltsangabe
This book chronicles the ascension of the New York Stock Exchange, detailing its remarkable rise to preeminence and its lasting impact on financial history.
In the 1830s, New York, Philadelphia, and Boston each had a stock exchange. These were the New York Stock Exchange (NYSE), Philadelphia Stock Exchange, and Boston Stock Exchange. As there was no reliable means of communicating between these cities in real time, each exchange served its local market. The 1840s brought an innovation in communications technology: the telegraph, which, in time, brought these exchanges into competition with each other.
Three previously independent stock markets became, in effect, a single market. If a security was listed on more than one exchange, potential buyers and sellers could choose the exchange on which to execute a trade in this security. This book details how the NYSE emerged as the winner of this competition.
Chapters analyze key moments in history that made the NYSE a reliable location to trade securities that evoked regional and eventually national interest. This analysis is applied to the competition between (i) stock exchanges today; (ii) taxi ride-booking services such as Uber and Ola; (iii) restaurant to home, food delivery services, such a Zomato and Swiggy; and (iv) doorstep delivery services, such as Blinkit and Zepto.
The resulting book provides the untold history of the NYSE and its rise to preeminence in the American economy.
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Über die Autorin bzw. den Autor
Sonali Garg is an independent researcher based in New Delhi, India. She has worked as a regulator at the Competition Commission of India and holds a Ph.D. in Economics from The Ohio State University. Views expressed in the book are the author’s.
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In the 1830s, New York, Philadelphia, and Boston each had a stock exchange. These were the New York Stock Exchange (NYSE), Philadelphia Stock Exchange, and Boston Stock Exchange. As there was no reliable means of communicating between these cities in real time, each exchange served its local market. The 1840s brought an innovation in communications technology: the telegraph, which, in time, brought these exchanges into competition with each other.
Three previously independent stock markets became, in effect, a single market. If a security was listed on more than one exchange, potential buyers and sellers could choose the exchange on which to execute a trade in this security. This book closely analyzes this competition.
The NYSE emerged as the winner of this competition. It became the place to trade securities that evoked regional and eventually national interest, while the Boston and Philadelphia exchanges remained regional exchanges. This book explores when and why this happened. This analysis is applied to the competition between (i) stock exchanges today; (ii) car rental aggregator services such as Uber and Ola; (iii) restaurant to home, food delivery services, such a Zomato and Swiggy; and (iv) doorstep delivery services, such as Blinkit and Zepto.
Sonali Garg is an independent researcher based in New Delhi, India. She has worked as a regulator at the Competition Commission of India and holds a Ph.D. in Economics from The Ohio State University. Views expressed in the book are the author’s.
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The Telegraph and Stock Exchanges : How Innovations in Communications Technology Influenced Regional Exchanges in the United States, 1830-1860
Verlag:
Springer Nature Switzerland, Springer Nature Switzerland, 2025
ISBN 10: 3031404092
ISBN 13: 9783031404092
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Taschenbuch. Zustand: Neu. Druck auf Anfrage Neuware - Printed after ordering - This book chronicles the ascension of the New York Stock Exchange, detailing its remarkable rise to preeminence and its lasting impact on financial history.In the 1830s, New York, Philadelphia, and Boston each had a stock exchange. These were the New York Stock Exchange (NYSE), Philadelphia Stock Exchange, and Boston Stock Exchange. As there was no reliable means of communicating between these cities in real time, each exchange served its local market. The 1840s brought an innovation in communications technology: the telegraph, which, in time, brought these exchanges into competition with each other.Three previously independent stock markets became, in effect, a single market. If a security was listed on more than one exchange, potential buyers and sellers could choose the exchange on which to execute a trade in this security.This book details how the NYSE emerged as the winner of this competition.Chapters analyze key moments in history that made the NYSE a reliable location to trade securities that evoked regional and eventually national interest. This analysis is applied to the competition between (i) stock exchanges today; (ii)taxi ride-booking servicessuch as Uber and Ola; (iii) restaurant to home, food delivery services, such a Zomato and Swiggy; and (iv) doorstep delivery services, such as Blinkit and Zepto.The resulting book provides the untold history of the NYSE and its rise to preeminence in the American economy. Artikel-Nr. 9783031404092
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