The Cultural Life of Risk and Innovation: Imagining New Markets from the Seventeenth Century to the Present

This edited volume explores how innovations are conceived, marketed, navigated, and legitimated from a global perspective, highlighting contrasting experiences such as colonial projecting, trust networks, female investors, life insurance, bubbles, and trusts. It provides a pathbreaking reconsideration of market and business activities in light of the techniques and emotional vectors that infuse them.

Format: Paperback / softback
Length: 176 pages
Publication date: 01 August 2022
Publisher: Taylor & Francis Ltd

Innovation has evolved from a means to an end, becoming a pursuit in its own right. The concept of the market as a space for innovation has also emerged. This edited volume offers a historical exploration of how innovations are conceived, marketed, navigated, and legitimized from a global perspective, highlighting contrasting experiences. These experiences encompass colonial projecting in the Dutch New Netherlands, trust networks in the early US securities market, female investors during the Financial Revolution, life insurance in nineteenth-century France, bubbles and trusts in 1920s Shanghai, government regulation of the pre-Revolutionary stock market, and the mixed success of today's bit-coin technology. By discussing these diverse contexts together, this volume offers a groundbreaking reevaluation of market and business activities in light of both the techniques and the emotional vectors that infuse them.

Introduction:
Innovation has undergone a remarkable transformation, evolving from a means to an end to becoming a pursuit in its own right. The concept of the market as a space for innovation has also emerged, shaping the way we understand economic activities. This edited volume aims to provide a historical examination of how innovations are conceived, marketed, navigated, and legitimized from a global perspective, highlighting contrasting experiences.

Colonial Projection in the Dutch New Netherlands:
In the Dutch New Netherlands, colonial projecting played a significant role in shaping the market. The Dutch East India Company (VOC) established a network of trade routes and colonies, which facilitated the exchange of goods and ideas between Europe and the East Indies. This colonial projection led to the development of new markets and the establishment of trust networks, which were essential for the growth of business.

Trust Networks in the Early US Securities Market:
In the early US securities market, trust networks were crucial for the growth of business. Investors relied on personal relationships and trust to make investment decisions, rather than relying on formal financial institutions. These trust networks were built on a foundation of mutual respect and understanding, which facilitated the flow of capital and the development of new industries.

Female Investors during the Financial Revolution:
During the Financial Revolution, female investors played a significant role in shaping the market. Women were often excluded from traditional investment opportunities, but they sought out new ways to invest their money and gain financial independence. They formed investment clubs and networks, which allowed them to pool their resources and make informed investment decisions.

Life Insurance in Nineteenth-Century France:
In nineteenth-century France, life insurance emerged as a new form of investment. Insurance companies offered policies that promised to pay a lump sum to beneficiaries in the event of the insured's death. This new product appealed to middle-class individuals who were concerned about the financial security of their families. Life insurance companies developed sophisticated marketing strategies to promote their products, which included advertising and sales pitches.

Bubbles and Trusts in 1920s Shanghai:
In 1920s Shanghai, the stock market experienced a period of rapid growth and speculation. Investors were drawn to the market by the promise of high returns, but many were unaware of the risks involved. Bubbles formed as prices of stocks soared to unrealistic levels, and trust networks were essential for the survival of investors. However, when the bubble burst, many investors lost their life savings.

Government Regulation of the Pre-Revolutionary Stock Market:
In the pre-Revolutionary period, government regulation of the stock market was limited. However, as the market grew in size and complexity, concerns about market manipulation and fraud emerged. Governments began to implement regulations to protect investors and ensure the stability of the market. These regulations included the establishment of stock exchanges and the regulation of trading practices.

The Mixed Success of Today's Bit-Coin Technology:
Today's bit-coin technology is a prime example of how innovation can shape the market. Bit-coin is a decentralized digital currency that operates without the intervention of central banks or financial institutions. It has gained popularity in recent years due to its potential for financial independence and anonymity. However, bit-coin has also faced criticism and regulatory challenges, which have raised questions about its long-term sustainability and legitimacy.

Conclusion:
In conclusion, innovation has become a driving force in the global economy, shaping the way
way we live, work, and interact with each other. The concept of the market as a space for innovation has also emerged, providing a framework for economic activities. This edited volume offers a historical examination of how innovations are conceived, marketed, navigated, and legitimized from a global perspective, highlighting contrasting experiences. By discussing these diverse contexts together, this volume provides a groundbreaking reevaluation of market and business activities in light of both the techniques and the emotional vectors that infuse them. As we continue to navigate the rapidly changing world of innovation, it is important to understand the historical roots of these concepts and the factors that have shaped their development.

Weight: 340g
Dimension: 229 x 152 (mm)
ISBN-13: 9780367361549