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Chicago's Pride chronicles the growth -- from the 1830s to the 1893 Columbian Exposition - of the communities that sprang up around Chicago's leading industry. Wade shows that, contrary to the image in Upton Sinclair's The Jungle, the Stockyards and Packingtown were viewed by proud Chicagoans as "the eighth wonder of the world." Wade traces the rise of the livestock trade and meat-packing industry, efforts to control the resulting air and water pollution, expansion of the work force and status of packinghouse employees, changes within the various ethnic neighborhoods, the vital role of voluntary organizations (especially religious organizations) in shaping the new community, and the ethnic influences on politics in this "instant" industrial suburb and powerful magnet for entrepreneurs, wage earners, and their families.
A compelling account of how markets really govern themselves, and why they often baffle and outrage outsiders One of the reasons many people believe financial markets are lawless and irrational—and rigged—is that they follow two sets of rules. The official rules, set by law or by the heads of the exchanges, exist alongside the unofficial rules, or floor rules—which are the ones that actually govern. Break the official rules and you may be fined or jailed; break the floor rules and you’ll suffer worse: you will be ostracized. Regulations vary across markets, but the floor rules are remarkably consistent. This book, offering compelling stories of market disturbances in which insider rules played a key role, shows readers, without excessive moralizing, how markets really govern themselves. It is a study of the norms, customs, values, and operating modes of the insiders at the center of the financial markets that trade money, stocks, bonds, futures, and other financial derivatives. The core insiders who rule trading markets are a relatively small group who exert disproportionate influence on financial systems. Mark W. Geiger examines the historical roots of the culture of financial markets, describes the role insiders play in today’s high finance, and suggests where this peculiar, ingrown culture is heading in an era of constant technological change.