Every Man a Speculator: A History of Wall Street in American Life
By Steve Fraser
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About this ebook
Americans have experienced a love-hate relationship with Wall Street for two hundred years. Long an object of suspicion, fear, and even revulsion, the Street eventually came to be seen as an alluring pathway to wealth and freedom. Steve Fraser tells the story of this remarkable transformation in a brilliant, masterfully written narrative filled with colorful tales of confidence men and aristocrats, Napoleonic financiers and reckless adventurers, master builders and roguish destroyers. Penetrating and engrossing, this is an extraordinary work of history that illuminates the values and the character of our nation.
Steve Fraser
Steve Fraser is the author of Labor Will Rule: Sidney Hillman and the Rise of American Labor, which won the Philip Taft Prize for the best book in labor history. He is also the co-editor of The Rise and Fall of the New Deal Order. He received his Ph.D. in American history from Rutgers University, and his work has appeared in the Los Angeles Times, the Nation, the American Prospect, Raritan, and Dissent. He lives in New York City.
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Reviews for Every Man a Speculator
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- Rating: 5 out of 5 stars5/5A Cultural Look at America’s Wall Street RelationshipIn July, 1849, the arrest of a local confidence man attracted national media attention.It seems the con artist, one William Thompson, genteelly dressed would approach his marks discreetly flashing a handful of cash. He would confide to the mark that he intended to invest the bundle in a sure fire business deal. He offered to invest the mark’s cash in the same deal if he would demonstrate confidence in the deal by pleading his money and gold watch. Thompson promised to return the next day with the watch and even more cash.Of course, he never did.Throughout history, Americans have held ambivalent views of Wall Street. One moment they see it as one huge casino. The next, they see it as a cloister of scholarly seers who possess a mystical secret for instant success.Steve Fraser has written a Wall Street history that explores that dilemma’s impact on the American psyche. Americans remain preoccupied with the sins and virtues of the financial markets. On one hand they remain committed to their ancestral values of hard work, play, equality, well-being and national purpose. Yet, they are still magnetically drawn to promises of instant wealth and success.This well-written, thoroughly researched history explores this chronic tension. Through the colorful tales of confidence men and aristocrats, he offers the reader unique insights into our collective view of American Capitalism and its changing culture.