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A Nation of Small Shareholders: Marketing Wall Street after World War II

13 nov 2024 · 16 min. 38 sec.
A Nation of Small Shareholders: Marketing Wall Street after World War II
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"A Nation of Small Shareholders: Marketing Wall Street After World War II" by Janice M. Traflet, examines the New York Stock Exchange’s (NYSE) efforts to increase public participation in the...

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"A Nation of Small Shareholders: Marketing Wall Street After World War II" by Janice M. Traflet, examines the New York Stock Exchange’s (NYSE) efforts to increase public participation in the stock market between 1945 and 1970. Traflet argues that the NYSE adopted a new marketing strategy during this period, emphasizing the importance of shareownership to American democracy and economic citizenship. She shows how the NYSE utilized advertising, public relations, and educational programs to reframe the image of Wall Street from a "private club" dominated by wealthy elites to an accessible and inclusive marketplace for all Americans. This campaign, dubbed "Own Your Share," sought to counter communist influence and bolster American capitalism. However, Traflet also demonstrates the challenges the NYSE faced in expanding the shareowner base, including public distrust, the rise of mutual funds, and changes in investment strategies. The book provides a fascinating insight into the evolving relationship between Wall Street and the American public during a pivotal period of economic and political transformation.

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