Trade History

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.

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.

In The Dutch Moment, Wim Klooster shows how the Dutch built and eventually lost an Atlantic empire that stretched from the homeland in the United Provinces to the Hudson River and from Brazil and the Caribbean to the African Gold Coast. The fleets and armies that fought for the Dutch in the decades-long war against Spain included numerous foreigners, largely drawn from countries in northwestern Europe. Likewise, many settlers of Dutch colonies were born in other parts of Europe or the New World.

"The deck, that is the floor of their rooms, was so covered with the blood and mucus which had proceeded from them in consequence of the flux, that it resembled a slaughter-house. It is not in the power of the human imagination to picture a situation more dreadful or disgusting. Numbers of the slaves having fainted, they were carried upon deck where several of them died and the rest with great difficulty were restored. It had nearly proved fatal to me also." - Dr. Alexander Falconbridge, an 18th century British surgeon

Whereas for much of human history slavery was somewhat arbitrary, in its later forms, it often had a discriminatory component, typically based on race, ethnicity, nationality, or religion. This distinction shows how the practitioners of slavery justified the practice in terms of ideology, and Slavic people were discriminated against within the Ottoman Empire. Slavs had lived in the lands of today’s Eastern European region for centuries.

Once in Golconda is a dramatic chronicle of the breathtaking rise, devastating fall, and painstaking rebirth of Wall Street in the years between the wars. Focusing on the lives and fortunes of some of the era's most memorable traders, bankers, boosters, and frauds, John Brooks brings to vivid life all the ruthlessness, greed, and reckless euphoria of the '20s bull market, the desperation of the days leading up to the crash of '29, and the bitterness of the years that followed.

What is a royal family?

When Tara Roberts first caught sight of a photograph at the Smithsonian’s National Museum of African American History depicting the underwater archaeology group Diving With a Purpose, it called out to her. Here were Black women and men strapping on masks, fins, and tanks to explore Atlantic Ocean waters along the coastlines of Africa, North America, and Central America, seeking the wrecks of slave ships long lost in time. Inspired, Roberts joined them—and started on a path of discovery more challenging and personal than she could ever have imagined.

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.

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.

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.

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.

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.

America is a smuggler nation. Our long history of illicit imports has ranged from West Indies molasses and Dutch gunpowder in the 18th century, to British industrial technologies and African slaves in the 19th century, to French condoms and Canadian booze in the early 20th century, to Mexican workers and Colombian cocaine in the modern era. Contraband capitalism, it turns out, has been an integral part of American capitalism.

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.

In The Futures, Emily Lambert, senior writer at Forbes magazine, tells us the rich and dramatic history of the Chicago Mercantile Exchange and Chicago Board of Trade, which together comprised the original, most bustling futures market in the world. She details the emergence of the futures business as a kind of meeting place for gamblers and farmers and its subsequent transformation into a sophisticated electronic market where contracts are traded at lightning-fast speeds.

Stan Lundberg is no stranger to tragedy. After losing his parents in a freak accident, he succumbs to a lifetime of under-achievement. Things finally start to look up for Stan when, after struggling with debilitating migraines since childhood, he wakes up in the hospital with a diagnosis and hope for a cure. Ready to turn the page on the past that’s haunted him since the loss of his parents—he suffers the pinnacle of all migraines. After he regains consciousness, Stan inexplicably finds himself twenty years in his own past. Resourceful and uninhibited, he embroils himself in a new life,...

Many people know about the Mali Empire and its famous ruler, Mansa Musa. But did you know there was a major empire that came before it? Medieval African history tends to get ignored in favor of medieval European history. However, there is so much rich history to uncover, especially in the region of West Africa. The Ghana Empire is considered one of the greatest empires in African history. There was an abundance of gold in the region, and the Ghana Empire was a powerful trading partner. Advancements were made in administration, allowing it to become a dominant power in the region.

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.

The English East India Company was the mother of the modern multinational. Its trading empire encircled the globe, importing Asian luxuries such as spices, textiles, and teas. But it also conquered much of India with its private army and broke open China's markets with opium. The Company's practices shocked its contemporaries and still reverberate today.