A world of chance
betting on religion, games, Wall Street
by Reuven Brenner
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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.
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Subjects
Chance, Decision making, Risk, Social history, Gambling, Competition, Wealth, Finance, NonfictionShowing 2 featured editions. View all 2 editions?
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A world of chance: betting on religion, games, Wall Street
2008, New York : Cambridge University Press, Cambridge University Press
in English
0521884667 9780521884662
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Includes bibliographical references and index.
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| August 20, 2020 | Edited by ImportBot | import existing book |
| July 22, 2019 | Edited by MARC Bot | remove fake subjects |
| June 23, 2010 | Edited by ImportBot | add details from OverDrive |
| February 14, 2010 | Edited by WorkBot | add more information to works |
| December 10, 2009 | Created by WorkBot | add works page |