Inside and Outside the London Stock Exchange:Stockbrokers and Speculation in Late Victorian Britain

Taylor, James (2021) Inside and Outside the London Stock Exchange:Stockbrokers and Speculation in Late Victorian Britain. Enterprise and Society, 22 (3). pp. 842-877. ISSN 1467-2227

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The nineteenth-century growth of the London Stock Exchange and the development of the market for stocks and shares are familiar topics of study. This article provides an alternative perspective on them by decentering the London Stock Exchange and focusing instead on the activities of “outside stockbrokers” – those who operated outside the Stock Exchange and its rules. Often regarded as peripheral, these brokers were in fact instrumental in promoting investment and speculation to a mass market. The article examines their innovative methods, and seeks to explain why they were so successful, despite persistent – and sometimes justifiable – accusations of fraud. It suggests how perspectives from the history of consumer society provide fresh insights into the market for financial products. And it underlines the importance of looking outside formal markets, arguing that focusing on “fringe” markets can help us to rethink boundaries, relations, and practices in the history of capitalism.

Item Type:
Journal Article
Journal or Publication Title:
Enterprise and Society
Additional Information: The final, definitive version of this article has been published in the Journal, Enterprise and Society, 22, 3, pp 842-877 2021, © 2020 Cambridge University Press.
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Deposited On:
06 May 2020 10:40
Last Modified:
17 Sep 2023 02:49