Download A World of Chance: Betting on Religion, Games, Wall Street by Reuven Brenner PDF

By Reuven Brenner

ISBN-10: 0511424167

ISBN-13: 9780511424168

ISBN-10: 0521884667

ISBN-13: 9780521884662

Even if monetary markets frequently try and distance themselves from playing, the 2 components have way more in universal than frequently idea. while, traditionally there have been no monetary associations equivalent to banks, lotteries constituted the methods in which pricey goods have been disposed of, and governments raised funds speedy. playing tables fulfilled roles that enterprise capital and banking do at the present time. "Gamblers" created clearinghouses and sustained liquidity. while these gamblers wager on cost distributions in futures markets, they have been redefined as "speculators." this present day they're known as "hedge fund managers" or "bankers." notwithstanding the names have replaced, the activities undertaken have primarily stayed a similar. This publication exhibits how dialogue on "chance," "risk," "gambling," "insurance," and "speculation" illuminates the place societies stood, the place we're this present day, and the place we should be heading.

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A World of Chance: Betting on Religion, Games, Wall Street

Even supposing monetary markets usually try and distance themselves from playing, the 2 components have way more in universal than often idea. whilst, traditionally there have been no monetary associations similar to banks, lotteries constituted the methods wherein dear goods have been disposed of, and governments raised funds speedy.

Extra resources for A World of Chance: Betting on Religion, Games, Wall Street

Sample text

As in England, saloons in the United States became the poor people’s refuge. Breweries bought the real estate where the saloons opened. This was a time when breweries standardized production and, expanding rapidly, were looking for new places of distribution. They found such places in saloons, which proliferated. 51 The obstacle to lobbying attempts to get lawmakers to pass a constitutional amendment prohibiting the sale of alcoholic beverages were the beer barons, who had their clout too. They supported politicians, invested in newspapers, and used a grassroots organization, at the time called the National German-America Alliance, to spread the beer culture.

It also allows us to question prejudices that have accumulated over centuries about gamblers, for an impartial picture of this facet of human behavior and of the industry. We emphasize the word “impartial,” because today politics has turned gambling into a partisan issue, and works written about the subject are categorized as being in favor of the industry or against it, as if any examination of facts and sequence of events surrounding the issue must have a political agenda. We wrote a book on the subject back in the late 1980s, parts of which are integrated here, much before gambling spread in the United States and around the world.

Brenner of public opinion, appealing to deep-rooted prejudices, have a long history in people’s entertainment options in general, and on gambling-related ones in particular. When businesses fear competition, they use lobbyists, politicians, the priesthood, and pliable “intellectuals,” be they academics at universities or at think tanks – all part of what one may call the jargon, perceptionshaping business – to spread a variety of false, not to say strange, ideas. They do so to bring about legislation that protects the threatened enterprises and bureaucracies: some perhaps do so naively but sincerely.

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A World of Chance: Betting on Religion, Games, Wall Street by Reuven Brenner


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