The South Sea Bubble
Book description
An authoritative account of this extraordinary 18th-century financial, political, and royal scandal, this book describes the drama of the promotion, the insane fever of speculation, and the international impact of the final collapse.
Why read it?
1 author picked The South Sea Bubble as one of their favorite books. Why do they recommend it?
A classic account of an extraordinary 18th-century British financial and political scandal. The South Sea Bubble centred on the joint-stock South Sea Company, which was founded in 1711. The South Sea Bubble was an ambitious scheme to simultaneously pay off the British government's enormous debts while simultaneously getting rich in London's newly created stock market. The company was given a monopoly of trade with South America but had little prospect of success. The Bubble was an early Ponzi scheme that promised vast returns to early and well-connected investors.
Its collapse in 1720 ruined thousands of shareholders from all walks of…
From Kevin's list on financial crises.
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