The early eighteenth century saw a far-reaching financial
revolution in England, whose impact on the literature of the period
has hitherto been relatively unexplored. In this original study,
Colin Nicholson reads familiar texts such as Gulliver's Travels,
The Beggar's Opera and The Dunciad as 'capital satires', responding
to the social and political effects of the installation of
capitalist financial institutions in London. The founding of the
Bank of England and the inauguration of the National Debt
permanently altered the political economy of England: the South Sea
Bubble disaster of 1721 educated a political generation into the
money markets. While they invested in stocks and shares, Swift,
Pope and Gay conducted a campaign against the civic effects of
these new financial institutions. Conflict between these writers'
inherited discourse of civic humanism and the transformations being
undergone by their own society, is shown to have had a profound
effect on a number of key literary texts.
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