Introduction
From Market to Exchange, 1693-1801
From Money to Capital, 1801-51
From Domestic to International, 1850-1914
Shattered Dominance: The First World War, 1914-18
Challenges and Opportunities, 1919-39
The Changing Marketplace between Wars
New Beginnings: The Second World War
Recovery and Crisis, 1945-9
Drifting towards Oblivion, 1950-9
Failing to Adjust, 1960-9
Prelude to Change, 1970-9
Big Bang
Black Hole
Conclusion
Ranald Michie is Professor of History at the University of Durham, where he has been since 1974. He has also held visiting research fellowships in both the United States and Canada and has delivered papers in numerous international institutions. His international speciality is the history of stock exchanges having conducted research in both the British Isles and North America.
Full of insight into the operation of the London money market. It is essential reading for anyone who wishes to understand the City and the financial system, and he [Michie] provides a strongly argued defence of the operation of markets. But it should also be read by a wider range of historians who are interested in social relationships within a commercial society, a theme of increasing interest amongst historians of modern Britain ... Many of the themes in Michie's book should allow them to start a long and fruitful conservation. London Journal A rare combination of romance and impersonality ... he [Michie] has a better technical grasp than any other historian of how the exchange functioned ... His book will become a major work of reference and a resource for anyone interested in this major element in the City of London. It also has much wider implications for an understanding of modern Britain. London Journal Ranald Michie's massive history of the Stock Exchange is undeniably a formidable achievement, going far beyond previous accounts. It is the product of not only heroic research ... but also a sure grasp of how securities markets work ... His book, in short, transforms our understanding of a key national institution. David Kynaston, Times Literary Supplement As a work of reference, with a quite exceptional amount of well-documented and detailed material, this book is invaluable. Colin Leach, Financial Times This is a fascinating and well-told story that should have wide appeal. It will be the standard reference for a long time. And it is something of an achievement to produce a book on this subject that can carry the reader along so effortlessly. Business History
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