How to Build a Stock Exchange

Exploring the development of stock exchanges, markets and the links with states, in this book Roscoe offers a cautionary tale about the drive of financial markets towards expropriation, capture and exclusion and wonders what the future for finance might be, and how we might get there.

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Why is finance so important? How do stock markets work and what do they really do? Most importantly, what might finance be and what could we expect from it?


Exploring contemporary finance via the development of stock exchanges, markets and the links with states, Roscoe mingles historical and technical detail with humorous anecdotes and lively portraits of market participants.


Deftly combining research and autobiographical vignettes, he offers a cautionary tale about the drive of financial markets towards expropriation, capture and exclusion. Positioning financial markets as central devices in the organization of the global economy, he includes contemporary concerns over inequality, climate emergency and (de)colonialism and concludes by wondering, in the market’s own angst-filled voice, what the future for finance might be, and how we might get there.