In Our Time20 Joulu 2012

The South Sea Bubble

Melvyn Bragg and his guests discuss The South Sea Bubble, the speculation mania in early 18th-century England which ended in the financial ruin of many of its investors. The South Sea Company was founded in 1711 with a view to restructuring government debt and restoring public credit. The company would ostensibly trade with South America, hence its name; and indeed, it did trade in slaves for the Spanish market even after the Bubble burst in 1720.

People from all walks of life bought shares in the South Sea Company, from servants to gentry, and it was said the entire country was gripped by South Sea speculation mania. When the shares crashed and the company collapsed there was a public outcry and many people faced financial ruin, although some investors sold before the crash and made substantial amounts of money. For example, the bookseller Thomas Guy made his fortune and founded a hospital in his name the following year.

But how did such a financial crisis develop and were there any lessons learnt following this early example of a stock market boom and bust?

With:

Anne Murphy Senior Lecturer in History at the University of Hertfordshire

Helen Paul Lecturer in Economics and Economic History at the University of Southampton

Roey Sweet Head of the School of History at the University of Leicester

Producer: Natalia Fernandez.

Tämä jakso on lisätty Podme-palveluun avoimen RSS-syötteen kautta eikä se ole Podmen omaa tuotantoa. Siksi jakso saattaa sisältää mainontaa.

Jaksot(1092)

Joseph Roth

Misha Glenny and guests discuss one of the great writers on Central Europe after the first world war and on the dying of the old orders with the collapse of the Austro-Hungarian empire. As a German s...

4 Kesä 55min

Cybernetics

Misha Glenny and guests discuss cybernetics – the field of study which gave us the prefix ‘cyber’ and helped lay the foundations for the information age. After the Second World War, cybernetics emerge...

28 Touko 52min

Indian Indentured Labour

Misha Glenny and guests discuss how, after the abolition of slavery in the British Empire in 1833, sugar planters recruited workers from India to replace or compete with their formerly enslaved labour...

21 Touko 51min

M.C. Escher

Misha Glenny and guests discuss the work of Maurits Cornelis Escher (1898-1972), the graphic artist and printmaker best known for his impossible buildings, paradoxical perspectives, and repeating geom...

14 Touko 55min

Handel's Messiah

Misha Glenny and his guests discuss the most famous oratorio of George Frideric Handel (1685-1759) and his librettist Charles Jennens (1700-1773). For his libretto, Jennens drew from Old and New Test...

7 Touko 54min

The Spanish-American War 1898

Misha Glenny and guests discuss a turning point in world affairs in 1898 that left Spain greatly reduced as an imperial power and the US the owner of the Philippines, Guam and Puerto Rico, with a sign...

30 Huhti 55min

Silicon

Misha Glenny and guests discuss the physics, biology and chemistry of the element silicon which is at the heart of some of the most useful and beautiful objects on the planet. While it is still being...

23 Huhti 52min

Dadaism

Misha Glenny and guests discuss the provocative artistic phenomenon that first startled audiences in 1916 in Zurich. There, at the Cabaret Voltaire at the Holländische Meierei on the Spiegelgasse, Emm...

16 Huhti 50min