Follow the story of the South Sea Trading Company in the early 1700s as the world of early modern finance and stock trading implodes in a fiery inferno of institutionalised corruption that culminates the establishment of the office of Prime Minister of Britain.
The South Sea Bubble Part 1 – The Wildest Financial Chicanery of the 18th Century
The South Sea Trading Company is remembered to history as one of the greatest swindles ever concocted, but only to those who have studied what is otherwise a rather niche century in British history. This is a real shame, as the 1600s had brought with it many new ideas on what money and wealth could…
The South Sea Bubble Part 2 – The Wealth of Nations
Where does the wealth of a nation lie? It’s a tricky question to answer as it’s one of those annoying scenarios in which just about everyone will have a different answer for you. A Tory might tell you that the wealth is drawn from that nation’s physical resources; what is being produced and what could…
The South Sea Bubble Part 3 – Immoral Vs Illegal
John Blunt’s Nefarious Scheming Before a law exists, one cannot break it. One is, however, more than capable of doing something immoral regardless of the existence of a legal code. Our distant hunter gatherer ancestors had no constitution to ensure their rights, yet they still functioned in social groups. If someone stole from their neighbour,…
The South Sea Bubble Part 4 – Influence and Imitation
To understand what follows with Britain’s hysteria about the South Sea Company, it behooves us to look at the role of influence and imitation in Britain. As I explored in part one, in order for the ruler of any socio-political system to remain at the top by being able to influence others, typically with financial…
The South Sea Bubble Part 5 – The Bubble Bursts
When the bill to hand over the lion’s share of the national debt to the South Sea Trading Company had passed through parliament a year prior, there was intense emotion across the political landscape of England. Those close to the venture, but more so those who stood as direct beneficiaries of its success, cheered the…
The South Sea Bubble Part 6 – When Opportunity Knocks
When we left off, tensions were extremely high in England. Some thought was given to hiring foreign soldiers, perhaps from Germany, to try and maintain order as there were some whisperings about the King potentially abdicating in favour of his son, but the British MPs were steadfastly against rash actions with the monarchy. After a…
The Money Trail 