The Evolution of Finance Capitalism (Paperback) (ISBN-13: 9781614277392)

2014 Reprint of Original 1938 Edition. Exact facsimile of the original edition, not reproduced with Optical Recognition Software. Edwards provides a detailed, interesting and well documented account of the development of a security capitalism whose outstanding characteristics are considered to the separation of the owner of securities from the management of enterprise and the impersonalization of the "savings-investor" and the "savings-receiver." Beginning with a rising tide of investment in government securities, the pattern of development proceeds through the financing of the early public and private transportation companies, of the basic industries, including the railways; of foreign expansion; of preparation for war, and war; and finally, of a pervasion holding company structure. Everywhere its rise and development has been followed by crisis. For Edwards the main difficulty seems to be that those who garnered the economic power over financial manipulation tended almost universally toward "irresponsibility" in the matter of keeping a reasonable relationship between capitalization and real investment, resulting in excessive instability in the economic system.

Author: George W. Edwards
ISBN-10: 1614277397
ISBN-13: 9781614277392
Publisher: Martino Fine Books
Language: English
Published: 11/26/2014
Pages: 448
Format: Paperback
Weight: 1.51lbs
Size: 9.21h x 6.14w x 1.00d