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World history --- Economics --- International finance --- History.

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Two of the greatest financial fiascos of all time took place at the same time and were instigated by two acquaintances: the Mississippi Bubble, on which John Law at first made a vast fortune and gained sway over French finances; and the South Sea Bubble, launched by Law and Thomas Pitt, Jr., Lord Londonderry, his main partner in England. This book tells the story of these two financial schemes from the letters and accounts of two leading personalities. Larry Neal, a distinguished economic historian, highlights the rationality of each person and also finds that the primitive exchanges of the day, though informal and completely unregulated, actually performed reasonably well.

Business cycles -- History -- 18th century. --- Financial crises -- History -- 18th century. --- Law, John, -- 1671-1729. --- South Sea Company. --- Business cycles --- Financial crises --- Finance --- Business & Economics --- Investment & Speculation --- History --- Law, John, --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Economic cycles --- Economic fluctuations --- Law, --- Law, Jan, --- Compagnie du Sud --- Company of Merchants Trading to the South Seas --- Governour and Company of Merchants of Great Britain Trading to the South Seas and Other Parts of America, and for Encouraging the Fishery --- Crises --- Cycles --- Company of Merchants of Great Britain Trading to the South Seas and Other Parts of America, and for Encouraging the Fishery --- Economic schools --- Law, John

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This work establishes the existence of a sophisticated and smoothly functioning system of financial markets in the mercantile states of northwestern Europe throughout the 1700s. Based on computer analysis of thousands of price quotes from the financial press of the eighteenth century, the results should force both historians and economists to re-evaluate their understanding of the evolution of financial markets and their importance for the economic developments of that era.

World history --- anno 1700-1799 --- 331.161.1 --- Geschiedenis van het overheidskrediet en van de overheidsschuld. --- Capital market --- International finance --- History. --- History --- Marché financier --- Finances internationales --- Histoire --- Great Britain --- Netherlands --- Capital market - Great Britain - History. --- Capital market - Netherlands - History. --- International finance - History. --- 331.13 --- 331.162.1 --- AA / International- internationaal --- Capital markets --- Market, Capital --- Finance --- Financial institutions --- Loans --- Money market --- Securities --- Crowding out (Economics) --- Efficient market theory --- Geschiedenis van de handel --- Geschiedenis van het overheidskrediet en van de overheidsschuld --- Geschiedenis van de financiële markten --- Arts and Humanities --- Capital market - Great Britain - History --- Capital market - Netherlands - History --- International finance - History --- marche international des capitaux --- internationale kapitaalmarkt

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Collectively, mankind has never had it so good despite periodic economic crises of which the current sub-prime crisis is merely the latest example. Much of this success is attributable to the increasing efficiency of the world's financial institutions as finance has proved to be one of the most important causal factors in economic performance. In a series of insightful essays, financial and economic historians examine how financial innovations from the seventeenth century to the present have continually challenged established institutional arrangements, forcing change and adaptation by governments, financial intermediaries, and financial markets. Where these have been successful, wealth creation and growth have followed. When they failed, growth slowed and sometimes economic decline has followed. These essays illustrate the difficulties of co-ordinating financial innovations in order to sustain their benefits for the wider economy, a theme that will be of interest to policy makers as well as economic historians.

International finance --- World history --- anno 1600-1699 --- anno 1700-1799 --- anno 1800-1999 --- Financial institutions --- Capital market --- Banks and banking --- AA / International- internationaal --- 331.160 --- 332.109 --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Money --- Capital markets --- Market, Capital --- Loans --- Money market --- Securities --- Crowding out (Economics) --- Efficient market theory --- Financial intermediaries --- Lending institutions --- Associations, institutions, etc. --- Financiële geschiedenis: algemeenheden. --- Financiële geschiedenis: algemeenheden --- Financial institutions. --- Capital market. --- Banks and banking. --- Arts and Humanities --- History

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Financial capitalism emerged in a recognisably modern form in late seventeenth- and eighteenth-century Great Britain. Following the seminal work of Douglass C. North and Barry R. Weingast (1989), many scholars have concluded that the 'credible commitment' that was provided by parliamentary backing of government as a result of the Glorious Revolution of 1688 provided the key institutional underpinning on which modern public finances depend. In this book, a specially commissioned group of historians and economists examine and challenge the North and Weingast thesis to show that multiple commitment mechanisms were necessary to convince public creditors that sovereign debt constituted a relatively accessible, safe and liquid investment vehicle. Questioning Credible Commitment provides academics and practitioners with a broader understanding of the origins of financial capitalism, and, with its focus on theoretical and policy frameworks, shows the significance of the debate to current macroeconomic policy making.

Finance, Public --- Capital --- Credit --- History. --- Europe --- Economic policy. --- Borrowing --- Finance --- Money --- Loans --- Capital assets --- Fixed assets --- Economics --- Capitalism --- Infrastructure (Economics) --- Wealth --- Cameralistics --- Public finance --- Currency question --- Business, Economy and Management --- Public finances --- History --- E-books --- World history --- anno 1500-1799 --- anno 1800-1899