The South Sea Bubble: An Economic History of its Origins and by Helen Paul

By Helen Paul

The booklet is an fiscal heritage of the South Sea Bubble. It combines financial thought and quantitative research with old facts so one can supply a rounded account. It brings jointly scholarship from various various fields to replace the present old paintings at the Bubble. Up in the past, financial heritage examine has now not been built-in into mainstream histories of 1720. Technical paintings on proportion costs and ledgers has been inaccessible to a much broader viewers. in addition to offering new facts opposed to the playing mania argument, the e-book additionally translates the prevailing monetary historical past scholarship for non-specialists.

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2003: 3). This is the case if individuals’ willingness to pay for an asset is related to their expectation of average opinion. They therefore weight a public signal more highly than a private signal (Allen et al. 2003: 4). Shleifer and Summers argued that, as arbitrageurs do sell out in the end and help prices return to fundamentals. However, in the short term, arbitrageurs take advantage of opportunities to make money and actually attract the attention of other investors. So, in the short term, ‘they feed the bubble rather than help it dissolve’ (Shleifer and Summers 1990: 28).

Money men bought land, and younger sons of the landed class went into commerce. There was a gap between rhetoric and the way in which society actually functioned. There is a bound to be a gap between the Georgians and later commentators, as moral values have changed. Georgian social prejudices may no longer be acceptable. Likewise, the common contemporary practice of gift-­giving would now be condemned as bribery, yet it was acceptable within the social context of the period. Courtiers relied upon the monarch’s favour but could supplement their incomes by taking ‘gifts’.

Georgian social prejudices may no longer be acceptable. Likewise, the common contemporary practice of gift-­giving would now be condemned as bribery, yet it was acceptable within the social context of the period. Courtiers relied upon the monarch’s favour but could supplement their incomes by taking ‘gifts’. Life at court precluded earning a living through trade or ordinary business, and it was expensive. James Brydges had made presents of money to George I’s mistress, Melusine von der Schulenburg, and his half sister, Sophia Charlotte, amongst others.

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