The central questions addressed by this book concern the relationship between its two stories: that of changing financial markets and that of the emergence of modern finance theory. The markets provided financial economists with their subject matter, with data against which to test their models, and with some of at least the more elementary concepts they employed. Part of the explanation of why financial economics grew in its perceived importance is the gradual recovery of the stock market's prestige badly damaged by the Great Crash of 1929 and the malpractices it brought to light and its growing centrality, along with other financial markets, to the U.S. and world economies. But how significant was the other direction of influence? What were the effects on financial markets of the emergence of an authoritative theory of those markets?

Donald MacKenzie, An Engine, Not a Camera, loc. 36