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A world of chance: betting on religion games Wall Street

By: Contributor(s): Publication details: Cambridge Cambridge University Press 2008Description: xviii, 339 pISBN:
  • 9780521711579
Subject(s): DDC classification:
  • 306.482
Summary: 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. (Source: www.cambridge.org)
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Item type Current library Item location Shelving location Call number Status Date due Barcode
Books Vikram Sarabhai Library Rack 13-A / Slot 443 (0 Floor, West Wing) General Stacks 306.482 B7W6 (Browse shelf(Opens below)) Available 167019

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. (Source: www.cambridge.org)

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