Trade History

From the Financial Times' global finance correspondent, the incredible true story of the iconoclastic geeks who defied conventional wisdom and endured Wall Street's scorn to launch the index fund revolution, democratizing investing and saving hundreds of billions of dollars in fees that would have otherwise lined fat cats' pockets.

On May 6, 2010, financial markets around the world tumbled simultaneously and without warning. In the span of five minutes, a trillion dollars of valuation was lost. The Flash Crash, as it became known, represented the fastest drop in market history. When share values rebounded less than half an hour later, experts around the globe were left perplexed. A real-life financial thriller, Flash Crash uncovers the remarkable, behind-the-scenes narrative of a mystifying market crash, a globe-spanning investigation into international fraud, and the man at the center of them both.

A masterful account of today's money culture, showing how the underpricing of risk leads to catastrophe. With his trademark humor and brilliant anecdotes, Michael Lewis paints the mood and market factors leading up to each event, weaves contemporary accounts to show what people thought was happening at the time, and then, with the luxury of hindsight, analyzes what actually happened and what we should have learned from experience.

As World War II wound down in 1945 and the cold war heated up, the skilled trades that made up the Conference of Studio Unions (CSU) began a tumultuous strike at the major Hollywood studios. This turmoil escalated further when the studios retaliated by locking out CSU in 1946. This labor unrest unleashed a fury of Red-baiting that allowed studio moguls to crush the union and seize control of the production process, with far-reaching consequences.

Baer goes behind the scenes to show how the U.S. willingly overlooked the corruption of the Saudi royal family, its financing of violent Islamic fundamentalist groups that spread hatred of the West throughout Saudi society, and its bribery of American officials. From a close-up with a corrupt Arab family to the inside scoop on how we helped fund the Taliban, Baer shows what's at stake in our pursuit of oil.

In this engaging, accessible account, Nadine Akkerman and Pete Langman explore the methods spies actually used in the period, including disguises, invisible inks, and even poisons. Drawing on a vast array of archival sources, they show how understanding the tricks and tools of espionage allows us to reimagine well-known stories such as the Babington and Gunpowder plots.

Erik Ronningen was on the 71st floor of the North Tower on September 11, 2001, when American Airlines Flight 11 struck the building. After an incredible, near miraculous journey down through the acrid, smoke-filled building, Erik tried to get to the security command center in the South Tower. Unable to do so, he was the last person to make it out of the South Tower alive. Here is the story of his harrowing escape, interwoven with the accounts of 14 others who were lucky enough to be able to recount them.

The concept of international trade was born in the ancient Mediterranean, which provided the perfect set of circumstances needed to produce an intricate trading system, whose influence can still be seen in present-day economic practices. The ancient Mediterranean was home to a diverse range of cultures and landscapes, encompassing deserts, forests, islands, and fertile plains.

The End of Wall Street is a blow-by-blow account of America's biggest financial collapse since the Great Depression. Drawing on 180 interviews, including sit-downs with top government officials and Wall Street CEOs, Lowenstein tells, with grace, wit, and razor-sharp understanding, the full story of the end of Wall Street as we knew it.

Global trade is of vital interest to citizens as well as policymakers, yet it is widely misunderstood. This compact exposition of the market forces underlying international commerce addresses both of these concerned groups, as well as the needs of students and scholars. Although it contains no equations, it is almost mathematical in its elegance, precision, and power of expression. Understanding Global Trade provides a thorough explanation of what shapes the international organization of production and distribution and the resulting trade flows.

After the terrorist attacks of 9/11 destroyed the World Trade Center, New Yorkers and Americans faced a critical set of questions: What should be done with the site? Could the towers be replaced? And how best to memorialize those lost on that day? For Larry Silverstein, a lifelong New Yorker who had signed a lease for the properties just a few months before the attacks, the answer was clear: America had to rebuild as quickly as possible.

A century before Britain became involved in this terrible business, whole villages and towns in European countries were being depopulated by slavers, who transported the men, women, and children to Africa, where they were sold. This is the forgotten slave trade, one which saw over a million Christians forced into captivity in the Muslim world. Starting in the ancient world, Simon Webb traces the history of slavery in Europe, showing that the numbers involved were vast and that the victims were often treated far more cruelly than black slaves in America and the Caribbean.

An exciting, hugely revealing account of China’s burgeoning presence in Africa - a developing empire already shaping, and reshaping, the future of millions of people. A prizewinning foreign correspondent and former New York Times bureau chief in Shanghai and in West and Central Africa, Howard French is uniquely positioned to tell the story of China in Africa. Through meticulous on-the-ground reporting, French crafts a layered investigation of astonishing depth and breadth.

The transatlantic slave trade was founded by the Portuguese in the 15th century for the specific purpose of supplying the New World colonies with African slave labor. It was soon joined by all the major trading powers of Europe, and it reached its peak in the 18th century with the founding and development of plantation economies that ran from the South American mainland through the Caribbean and into the southern states of the United States. The East African Slave Trade, on the other hand, was more complex, far older, and significantly more widespread.

The empires of the ancient Sumerians, Akkadians, Greeks, Romans, and Chinese were underpinned by slavery, where one person could be owned by another, and their obedience and labor were forced by the threat of violence or even death. Some of these people were prisoners captured during wars, some were sold into slavery to pay debts, while others were born into slavery. In many ancient empires, slaves accounted for anything from one-third to half of the total population.

The Phoenicians remain one of the most enigmatic ancient civilizations, with historians and scholars prone to speculation and educated guesses. Although many Greek, Roman, and Egyptian writers reference the Phoenicians in trade records, military battles, and artistic transactions, few records were left by the original Phoenicians themselves, leaving modern scholars to fill in the blanks through educated guesses and material culture.

No one present at the Battle of Cape Lopez off the coast of West Africa in 1722 could have known that they were on the edge of history. This obscure yet fierce naval battle would have a monumental impact on British colonies and the future of slavery in America.

In 2001, at 47, Thomas DeWolf was astounded to discover that he was related to the most successful slave-trading family in American history, responsible for transporting at least 10,000 Africans to the Americas. His infamous ancestor, U.S. senator James DeWolf of Bristol, of Rhode Island, curried favor with President Jefferson to continue in the trade after it was outlawed.

Chronicling the rise and fall of the efficient market theory and the century-long making of the modern financial industry, Justin Fox’s The Myth of the Rational Market is as much an intellectual whodunit as a cultural history of the perils and possibilities of risk. The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today.

The Russian Revolution may be the most misunderstood and misrepresented event in modern history, its history told in a mix of legends and anecdotes. In A People's History of the Russian Revolution, Neil Faulkner sets out to debunk the myths and pry fact from fiction, putting at the heart of the story the Russian people who are the true heroes of this tumultuous tale.