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Book Description Paperback. Condition: new. Paperback. The sweeping story of the worlds first financial crisis: an astounding episode from the early days of financial markets that to this day continues to intrigue and perplex historians . . . narrative history at its best, lively and fresh with new insights (Liaquat Ahamed, Pulitzer Prizewinning author of Lords of Finance) A Financial Times Economics Book of the Year Longlisted for the Financial Times/McKinsey Business Book of the Year Award In the heart of the Scientific Revolution, when new theories promised to explain the affairs of the universe, Britain was broke, facing a mountain of debt accumulated in war after war it could not afford. But that same Scientific Revolutionthe kind of thinking that helped Isaac Newton solve the mysteries of the cosmoswould soon lead clever, if not always scrupulous, men to try to figure a way out of Britains financial troubles. Enter the upstart leaders of the South Sea Company. In 1719, they laid out a grand plan to swap citizens shares of the nations debt for company stock, removing the burden from the state and making South Seas directors a fortune in the process. Everybody would win. The kings ministers took the baitand everybody did win. Far too much, far too fast. The following crash came suddenly in a rush of scandal, jail, suicide, and ruin. But thanks to Britains leader, Robert Walpole, the kingdom found its way through to emerge with the first truly modern, reliable, and stable financial exchange. Thomas Levensons Money for Nothing tells the unbelievable story of the South Sea Bubble with all the exuberance, folly, and the catastrophe of an event whose impact can still be felt today. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9780812987966
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