The world’s first stock exchange is a lively book that takes us back to seventeenth-century Amsterdam, where the Dutch East India Company issued the world’s earliest shares. Lodewijk Petram describes in detail the main players, investors, shady characters, speculators, and domestic servants and other ordinary folk, who all played a role in the development of the Amsterdam stock market and its crises.
His history clarifies concerns that investors still struggle with today, and does so in a way that is vivid, relatable, and critical to understanding our contemporary financial predicament. Read more
The world’s first stock exchange is published by Columbia University Press. Order online
- Lodewijk Petram was interviewed by NPR’s Planet Money for a story about Isaac le Maire, the man who invented short selling. Listen to the podcast.
- A 29-page excerpt from the book is available online. Click to read.
- The world’s first stock exchange will appear in Chinese and Korean shortly.
- The Greek translation of The world’s first stock exchange is out now. Η γέννηση του χρηματιστηρίου is published by Aiora Press.
- The Dutch edition of The world’s first stock exchange won the Dirk Jacob Veegens Prize from the Royal Holland Society of Sciences and Humanities.
Reviews of The world’s first stock exchange
- Gregory Clark, University of California, Davis — “This book is a wonderfully textured account of the rise of stock trading in seventeenth century Amsterdam.”
- Russell Shorto, Author of Amsterdam: A History of the World’s Most Liberal City — “Lodewijk Petram takes us back to 1602, when it all began, and shows how the major elements of the financial life of our time came into being. This is a clear and vital book.”
- Richard Sylla, NYU Stern School of Business — “While modern Wall Street may have succeeded Amsterdam as the leading market, what goes on there is hardly new.”
- Ailsa Röell, Professor of International and Public Affairs, Columbia University — “This is an extremely accessible and clear description of a fascinating topic.”
- Joost Jonker, NEHA Professor of Business History, University of Amsterdam — “Petram’s book is a very good example of that rare specimen, a financial history book for a popular audience.”
The world’s first stock exchange is based on a PhD research project. Read more about Lodewijk Petram’s PhD-thesis on the development of the stock exchange in seventeenth-century Amsterdam.