In the 19th century, the Liverpool Cotton Brokers Association (CBA) coordinated the dramatic growth of Liverpool's raw cotton market. This article shows how the CBA achieved this through the development of a private order institutional framework that improved information flows, introduced...

The joint stock company, centred on Oldham, is a central narrative in Douglas Farnie's seminal book, the English Cotton Industry and the World Market. Farnie was the first to highlight the idiosyncratic nature of these limited companies, including their highly democratic system of governance....