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CONCLUSION The brokers, bankers et al of the City of London go about their business insulated from the harsh realities of the world outside, realities for which they are themselves responsible. The human tragedy and ecological destruction on which their profit is based cannot be found in the numbers on screens that flash past with ever-greater speed 24 hours a day. It took the New York Stock Exchange index, (the Dow Jones Industrial Average), 66 years to climb from 100 to 1,000, but only 16 years to reach 10,000. Now the markets hungrily eye up the next milestone: 100,000. But every last person making a mint from the markets cannot see or refuses to acknowledge these basic truths: that eternal economic growth is impossible with a finite resource (ie. this planet), and that vast profit for the few means vast social and ecological devastation. Thus capital knows little of its own consequences. Or perhaps the truth is even more damning, that those profiting from this system know full well the consequences of their actions - boast of them even - as they jump into the Jeep and motor down to 'the country' for the weekend. We can't afford to let that mentality triumph. It is not the intention of this guide to spell out alternatives to this system, or even to suggest new, socially and ecologically sound uses for that lump of overpriced real estate known as the Square Mile. All we know is that we must understand it in order to rid ourselves of it; please use the information contained within wisely... Further readingThe Investor's Guide to How the Stock Market REALLY Works, by Leo Gough, pub. Pitman Publishing, 1994. The Money Machine - How the City works, by Philip Coggan, Penguin (1995 [3rd ed])' Rogue Trader, by Nick Leeson, Warner Books (1996). The Shareholder Action Handbook, by Craig Mackenzie, New Consumer (1993). When Corporations Rule the World, by David Korten, Earthscan (1995). New Internationalist magazine: e.g. Sept '95 p.20 (coffee), March '98 p.22 (metals), Aug '98 p.28 (cocoa). Who Drinks Where ed. Piesse & Westmacott, Black Book Publishing (1999). Post-Imperialism & the Internationalisation of London, Anthony King, Routledge (1991). The Case Against the Global Economy & for a Turn towards the Local, ed. Goldsmith & Mander, Sierra Club Books (1996). An Activists Guide to Lobbying Financial Markets, by Nick Hildyard, Mark Mansley and Monique Baker, pub. The Corner House, available summer 1999.
To order more copies
www.cityoflondon.gov.uk/col/keyorg/index.htm - links to all the key exchanges and other financial institutions www.apcims.org/brief.html - a brief introduction to types of investment http://dspace.dial.pipex.com/jhalsey/associations/assuk.htm - links to financial trade associations www.cityoflondon.gov.uk/col/index.htm - facts about the City of London www.londonstockex.co.uk/glossary.htm - glossary of stock market terms www.ipe.uk.com/about/glossary.html - glossary of futures and options terms http://pronet.ca/stockexchanges - list of stock exchanges and therefore financial centres worldwide www.j18.org & www.agp.org - Globalising resistance to free trade and global finance!
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