Trebots @ Tuesday October 23rd 2012 11:16

A broker converting coin into MIssissippi stock in the Dutch print series, Het grote tafereel der dwaasheid, The great scene of folly. More pics.

Re this, JB comments that showing any kind of relationship between financial and technological innovation is kind of hard, but rather liked this illustration - of what happens when you let an entrepreneur also run monetary policy. (When was Spain's first bubble? Spanish Wikipedia is big on Anglo disasters, but doesn't mention Spanish railways in the 1860s, etc etc.)

  • Financial instrument (1) A financial instrument is a tradable asset of any kind; either cash, evidence of an ownership interest in an entity, or a contractual right to receive or deliver cash or another financial instrument.
  • John Law (economist) (1) John Law was a Scottish economist who believed that money was only a means of exchange that did not constitute wealth in itself and that national wealth depended on trade. He was appointed Controller General of Finances of France under the Duke of Orleans, Regent for the youthful King Louis XV.
  • Mississippi Company (1) The Mississippi Company of 1684 became the Company of the West in 1717, and expanded as the Company of the Indies from 1719. This corporation, which held a business monopoly in French colonies in North America and the West Indies, became one of the earliest examples of an economic bubble.
Categories: Arithmetic, Decline, Les bourgeois, Monsters

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