Democratic Dividends: Stockholding, Wealth, and Politics in New York, 1791–1826
利用新收集的数据，比较1791年和1826年纽约市持有公司股票的家庭与普通人口的财富和地位，发现股票持有随时间从精英向较不富裕家庭扩散。
Using newly collected data, this article compares the wealth and status of New York City households who owned corporate stock to the general population both in 1791, when there were only two corporations in the state, and in 1826, when there were hundreds. The results indicate that although corporate stock was held principally by the city's elite merchants in both periods, share ownership became more widespread over time among less affluent households. In particular, later corporations were owned and managed by investors who were less wealthy than the stockholders of corporations created in earlier, less democratic periods.