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The Mississippi Bubble is a 1902 novel by American author Emerson Hough. It was Hough's first bestseller, and the fourth-best selling novel in the United States in 1902. [2] The historical novel revolves around the story of John Law (1671-1729) and the "Mississippi Bubble", an economic bubble of speculative investment in the French colony of ...
The Mississippi bubble coincided with the South Sea bubble in England, which allegedly took ideas from it. Law was a gambler who would win card games by mentally calculating odds . He propounded ideas such as the scarcity theory of value [ 5 ] and the real bills doctrine . [ 6 ]
The bank became the Banque Royale (Royal Bank) in 1718, meaning the notes were guaranteed by the king, Louis XV of France.The company absorbed the Compagnie des Indes Orientales ("Company of the East Indies"), the Compagnie de Chine ("Company of China"), and other rival trading companies and became the Compagnie Perpétuelle des Indes "Perpetual Company of the Indies"), on 23 May 1719 with a ...
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[2] [3] It focuses on the early eighteenth century Scottish financier John Law and his efforts to establish the Mississippi Company in Paris which ultimately went bankrupt after a speculative bubble. [4] In 1871 Ainsworth wrote a serialised novel The South Sea Bubble focusing on the near-contemporary collapse of the British South Sea Bubble. [5]
Yale professor Robert Shiller correctly predicted the bubble in tech stocks at the turn of the millennium and the housing bubble in the middle part of the last decade, so he knows a little ...
Former President Donald Trump has his hopes set that Republican voters in Mississippi and three other states will push him over the top Tuesday night in his quest to clinch his party’s ...
With the collapse of the "Mississippi bubble", Cantillon was able to collect on debt accruing high rates of interest. [25] Most of his debtors had suffered financial damage in the bubble collapse and blamed Cantillon—until his death, Cantillon was involved in countless lawsuits filed by his debtors, leading to a number of murder plots and ...