Get Free Shipping on orders over $79
Darkness by Design : The Hidden Power in Global Capital Markets - Walter Mattli

Darkness by Design

The Hidden Power in Global Capital Markets

By: Walter Mattli

Hardcover | 11 June 2019 | Edition Number 1

At a Glance

Hardcover


RRP $54.99

$48.75

11%OFF

or 4 interest-free payments of $12.19 with

 or 

Ships in 3 to 5 business days

An expose on transformations in stock exchanges, poor governance, and exploitative practices in today's capital markets Capital markets have undergone a dramatic transformation in the past two decades. Algorithmic high-speed supercomputing has replaced traditional floor trading and human market makers, while centralized exchanges that once ensured fairness and transparency have fragmented into a dizzying array of competing exchanges and trading platforms. Darkness by Design exposes the unseen perils of market fragmentation and "dark markets, some of which are deliberately designed to enable the transfer of wealth from the weak to the powerful. Walter Mattli traces the fall of the traditional exchange model of the NYSE, the world's leading stock market in the twentieth century, showing how it has come to be supplanted by fragmented markets whose governance is frequently set up to allow unscrupulous operators to exploit conflicts of interest at the expense of an unsuspecting public. Market makers have few obligations, market surveillance is neglected or impossible, enforcement is ineffective, and new technologies are not necessarily used to improve oversight but to offer lucrative preferential market access to select clients in ways that are often hidden. Mattli argues that power politics is central in today's fragmented markets. He sheds critical light on how the redistribution of power and influence has created new winners and losers in capital markets and lays the groundwork for sensible reforms to combat shady trading schemes and reclaim these markets for the long-term benefit of everyone. Essential reading for anyone with money in the stock market, Darkness by Design challenges the conventional view of markets and reveals the troubling implications of unchecked power in the market arena for the health of the global economy and society as a whole.   
Industry Reviews
"What Mattli shows in his study of the New York Stock Exchange is that, prior to 1970, it is quite possible to believe that capitalists did behave with a degree of honour and regard for the public good in the way they conducted business."---Don Flynn, Chartist
"There are few books on the structure and governance of equity markets, and even fewer that can be enjoyed by new and experienced readers . . . Mattli's sets a high standard."---David Murphy, Open Letters Review
"Mr Mattli's book is a delightful chronicle of the changes in the way trading-related information has flowed"---Namit Gupta, Business Standard
"Mattli's book is both lucid and short, two priceless qualities in discussing market structure."---David Morris, Financial News

More in Political Economy

Keir Starmer : The Biography - Tom Baldwin

RRP $27.99

$23.75

15%
OFF
How Europe Underdeveloped Africa - Walter Rodney

RRP $32.99

$25.75

22%
OFF
Confessions of an Economic Hit Man, 3rd Edition - John Perkins
Beyond Money : A Postcapitalist Strategy - Anitra Nelson

RRP $41.95

$33.75

20%
OFF
Why Nations Fail : The Origins of Power, Prosperity and Poverty - James A. Robinson
Capital in the Twenty-First Century - Thomas Piketty

RRP $43.95

$34.75

21%
OFF
Exploring the Poverty Question - Utsa Patnaik
The Road to Serfdom : Routledge Classics - F.A. Hayek

RRP $29.99

$26.75

11%
OFF
Politics and the Economy : Elements in Political Philosophy - Lisa Herzog
Taxing People : The Next One Hundred Years - Tsilly Dagan

RRP $199.95

$176.75

12%
OFF