Research Catalog

Title

The first crash : lessons from the South sea bubble / Richard Dale.

Author

Dale, Richard.

Publication

Princeton, N.J. : Princeton University Press, [2004], ©2004.

Items in the Library & Off-site

Holdings

Details

Description

198 pages : illustrations; 24 cm

Summary

"The First Church throws light on the current debate about investor rationality by re-examining the story of the South Sea Bubble from the standpoint of investors and commentators during and preceding the fateful bubble year. In absorbing prose, Richard Dale describes the trading techniques of London's Exchange Alley (which included 'modern' transactions such as derivatives) and uses new data, as well as the hitherto neglected writings of a brilliant contemporary financial analyst, to show how investors lost their bearings during the Bubble period in much the same way as during the dot.com boom." "The events of 1720, as presented here, offer insights into the nature of financial markets that, being independent of place and time, deserve to be considered by today's investors everywhere. This book is therefore aimed at all those with an interest in the behavior of stock markets."--BOOK JACKET.

Subjects

• Stocks > Prices > Great Britain > History > 18th century
• South Sea Bubble, Great Britain, 1720
• South Sea Company History
• Capital market > Great Britain > History > 18th century
• Financial crises > Great Britain > History > 18th century

Bibliography (note)

• Includes bibliographical references (p. [187]-194) and index.

Contents

Ch. 1. Coffee houses, the press and misinformation -- Ch. 2. Exchange alley and the evolution of London's securities market -- Ch. 3. Origins of the south sea company -- Ch. 4. John Law and the Mississippi bubble -- Ch. 5. The south sea scheme -- Ch. 6. The bubble -- Ch. 7. The crash -- Ch. 8. Crisis resolution -- Ch. 9. Lessons from the south sea bubble -- App. I. Hutcheson's south sea parable -- App. II. Technical note on stock and subscription price data -- Ch. 10. Conclusion.

ISBN

0691119716 (cl : alk. paper)

LCCN

2004044319

OCLC

• ocm54407401
• SCSB-5080952

Owning Institutions

Columbia University Libraries