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Extraordinary Popular Delusions, the Money Mania - The Mississippi Scheme, the South-Sea Bubble, & the Tulipomania (Abridged, Hardcover, Abridged edition)
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Extraordinary Popular Delusions, the Money Mania - The Mississippi Scheme, the South-Sea Bubble, & the Tulipomania (Abridged, Hardcover, Abridged edition)
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The finances of the country were in a state of the utmost disorder.
A profuse and corrupt monarch, whose profuseness and corruption
were imitated by almost every functionary, from the highest to the
lowest grade, had brought France to the verge of ruin. The national
debt amounted to 3000 millions of livres, the revenue to 145
millions, and the expenses of government to 142 millions per annum:
leaving only three millions to pay the interest upon 3000 millions.
-from "The Mississippi Scheme" The savings-and-loan scandals of the
1980s. The dotcom craze of the 1990s. The housing bubble of the
2000s. It may seem as if mass financial insanity is a result of
complex global economies and modern high finance, but it's been
with us for centuries, as this classic expose of the madness of
humanity-particularly as it relates to money-demonstrates in a way
that's both disturbing and highly illuminating for those wishing to
avoid getting lost in such madness again. This abridged edition of
the 1841 classic focuses exclusively on the infamous financial
mania that have become bywords when discussing the economic
collapses of today: the Mississippi Scheme, in which an
18th-century Scottish financier created a stock bubble in France
for land in the New World the South Sea bubble, the 18th-century
stock swindle sometimes called "the Enron of England" the infamous
tulip mania that seized Holland in the 1600s These powerful studies
of the human relationship to money remain startlingly relevant
today... as they are sure to still be centuries from now. Scottish
journalist CHARLES MACKAY (1814-1889) held an honorary law degree
from Glasgow University, as well as a doctorate in literature. A
renowned poet and songwriter, he also authored a Dictionary of
Lowland Scotch.
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