Informationen zum Autor Emily Lambert is senior writer for Forbes magazine, where she covers finance and trading. She has also written for the New York Post . She lives in Chicago. Klappentext In The Futures ! Forbes magazine senior writer Emily Lambert tells the rich and dramatic history of the Chicago Mercantile Exchange and Chicago Board of Trade! the original futures market. Commodities exchanges have become some of the largest financial markets in our global economic system! yet the exchanges themselves and the speculators who run them remain largely misunderstood! as does their chief instrument: the futures contract. Lambert describes the emergence of the futures business as a kind of meeting place for gamblers and farmers that subsequently transformed into a sophisticated electronic market! one where contracts are traded at lightning-fast speeds. When Wall Street adopted the futures contract without the rules and close-knit social bonds that had made trading it in Chicago work so well! however! the effects were disastrous. But! as Lambert argues! the traditional futures market!with its written and cultural limits!can serve as a useful example of how markets ought to work! thereby becoming a tonic for our current financial ills. Zusammenfassung In The Futures , Emily Lambert, senior writer at Forbes magazine, tells us the rich and dramatic history of the Chicago Mercantile Exchange and Chicago Board of Trade, which together comprised the original, most bustling futures market in the world. She details the emergence of the futures business as a kind of meeting place for gamblers and farmers and its subsequent transformation into a sophisticated electronic market where contracts are traded at lightning-fast speeds. Lambert also details the disastrous effects of Wall Street's adoption of the futures contract without the rules and close-knit social bonds that had made trading it in Chicago work so well. Ultimately Lambert argues that the futures markets are the real "free" markets and that speculators, far from being mere parasites, can serve a vital economic and social function given the right architecture. The traditional futures market, she explains, because of its written and cultural limits, can serve as a useful example for how markets ought to work and become a tonic for our current financial ills....

Autorentext
Emily Lambert is senior writer for Forbes magazine, where she covers finance and trading. She has also written for the New York Post. She lives in Chicago.

Klappentext

In The Futures , Forbes magazine senior writer Emily Lambert tells the rich and dramatic history of the Chicago Mercantile Exchange and Chicago Board of Trade, the original futures market. Commodities exchanges have become some of the largest financial markets in our global economic system, yet the exchanges themselves and the speculators who run them remain largely misunderstood, as does their chief instrument: the futures contract. Lambert describes the emergence of the futures business as a kind of meeting place for gamblers and farmers that subsequently transformed into a sophisticated electronic market, one where contracts are traded at lightning-fast speeds. When Wall Street adopted the futures contract without the rules and close-knit social bonds that had made trading it in Chicago work so well, however, the effects were disastrous. But, as Lambert argues, the traditional futures market,with its written and cultural limits,can serve as a useful example of how markets ought to work, thereby becoming a tonic for our current financial ills.

Zusammenfassung
In The Futures, Emily Lambert, senior writer at Forbes magazine, tells us the rich and dramatic history of the Chicago Mercantile Exchange and Chicago Board of Trade, which together comprised the original, most bustling futures market in the world. She details the emergence of the futures business as a kind of meeting place for gamblers and farmers and its subsequent transformation into a sophisticated electronic market where contracts are traded at lightning-fast speeds. Lambert also details the disastrous effects of Wall Street's adoption of the futures contract without the rules and close-knit social bonds that had made trading it in Chicago work so well. Ultimately Lambert argues that the futures markets are the real "free" markets and that speculators, far from being mere parasites, can serve a vital economic and social function given the right architecture. The traditional futures market, she explains, because of its written and cultural limits, can serve as a useful example for how markets ought to work and become a tonic for our current financial ills.