Early Speculative Bubbles
Index
A | B | C | D | E
F | G | H | I | K
L | M | N | O | P
R | S | T | U | V
W | Y
A
Aislabie, John, 94
amalgamation process, 26
Americas
free coinage and, 21, 26–28, 107–08
Mississippi Bubble and, 35, 56–57, 108
South Sea Bubble and, ix, 88–89, 94, 109–10
America’s Great Depression (Rothbard), 7n11, 113
Amsterdam, Bank of. See Bank of Amsterdam
“An Historical Study of Law’s System” (Davis), 57n13, 62–63nn19–21, 4–65nn24–26
Andréadès, Andreas M., 81–83, 87, 102
History of the Bank of England 1640–1903, 76–77nn2–5, 83–84nn21–23
Anne (Queen of England), 85
Astell, William, 100
Austrian School of economics, viii, 6, 110
Austrian theory of malinvestment, 9, 105–17
“The Austrian Theory of the Trade Cycle” (Mises), 110n3
Austrian theory of trade cycle, 6–8, 110–17
B
Bank of Amsterdam
deposits into, 30f.
effect on English economics, 75
free coinage and, 22–33
influence on John Law, 41–42, 107–08
Bank of England
formation of, 77–79
influence on John Law, 44–45, 47–49, 55, 74
South Sea Bubble and, 79–03, 109–10
The Bank of England: A History (Clapham), 78n7–9
The Bank of England: A History from its Foundation in 1694 (Giuseppi), 77n6, 79–80nn13–15, 102n46
Bank of France. See Royal Bank (France)
bankruptcies in Holland, 32f.
Barbour, Violet, 27–29
Capitalism in Amsterdam, 29n24
Blanc, Louis, 66–67
Bloom, Herbert I., The Economic Activities of the Jews of Amsterdam in the Seventeenth and Eighteenth Centuries, 22n8
Blunt, John, ix, 86–88, 92–98, 109–10. See also South Sea Company
“Boom and Bust: The Political Economy of Economic Disorder” (Wagner), 114n9
Briscoe, John, 82
Brodrick, Thomas, 94
Bubble Act, ix, 100, 110
“Bubbles,” The New Palgrave: A Dictionary of Economics (Kindleberger), 2n1
bullion. See precious metals
business cycle theory, 6–8, 110–17
C
Calvo, Guillermo, 11
The Cambridge Economic History of Europe, 20n1
Capitalism in Amsterdam (Barbour), 29n24
Carswell, John, 86–87, 92–94, 96–97
The South Sea Bubble, 83n20, 101n43
Caswell, George, 88
central banks, vii
Chamber of Justice, 54–55
Chamberlain, Hugh, 82
Charles II (King of England), 76–77
Charles V (King of France), 19–20
“China Cancels Its Red-Hot Stamp Market, But Traders Hope Crackdown Will Pass” (McGregor), 116n11
China’s monetary policies, 116
Clapham, John, 78–80
clipping of coins, 19, 80–81
Clough, Shepard B., 101, European Economic History: The Economic Development of Western Civilization, 22n11
coinage and recoinage, 8, 19–33, 39, 51, 80–83, 107–08
coins, gold and silver. See precious metals
Company of East Indies, 58
Company of the Indies. See Mississippi Company
Company of the West, 56–58, 108
Crowldy, Ambrose, 88
Currency School, 110–11
D
d’Arminy, Le Gendre, 56–58
Davis, Andrew McFarland, 64–66
“An Historical Study of Law’s System,” 57n13, 62–63nn19–21
debasement of money, 19–20, 80–81
Del Mar, Alexander, 20, 26–27, 31, 107
History of Monetary Systems, 21nn5–6
A History of the Precious Metals, 29n25, 31nn26–27
Desmaretz, Nicolas, 39–40, 52–53
Dickson, G.G.M., 85–86, 98
The Financial Revolution in England: A Study in the Development of Public Credit, 89–90nn33–34, 100nn41–42
Dillen, J.G. van, 30
Duke of Noailles, 53–55, 57
Duke of Orléans, 38, 39, 53
Dutch East India Company, 26–27
E
East India Company (English), 38, 44–45, 49, 85–87, 102
econometrics, 4, 105
The Economic Activities of the Jews of Amsterdam in the Seventeenth and Eighteenth Centuries (Bloom), 22n8
The Embarrassment of Riches (Schama), 32n28
English Copper Company, 100
European Economic History: The Economic Development of Western Civilization (Clough), 22n11, 101n44
Euvres complétes (Law), 73n38
“The Evolution of John Law’s Theories and Policies 1707–1715” (Murphy), 45–46nn8–11
Exchange Alley, 99, 100, 110, 116
F
“Famous First Bubbles” (Garber), 4n6
Federal Reserve, vii
A Financial History of Western Europe (Kindleberger), 16–17
The Financial Revolution in England: A Study in the Development of Public Credit (Dickson), 85–86n24–27, 89–90nn33–34, 98n39, 100nn41–42
Flood, Robert, 4
Flynn, Dennis O., 27
free coinage, 8, 19–33. See also coinage and recoinage
A Free-Market Monetary System and The Pretense of Knowledge (Hayek), 8n14
Further considerations concerning raising the value of money (Locke), 82n17
G
Garber, Peter, 3–4, 11–15, 114
“Famous First Bubbles,” 4n6
General Bank (of France), 51, 55–56, 108. See also Royal Bank (France)
The General Theory of Employment, Interest and Money (Keynes), 2–3, 106n1
Giuseppi, John, 77, The Bank of England: A History from its Foundation in 1694, 77n6, 79–80nn13–15, 102n46
Godfrey, Michael, 77
Godolphin, Sidney, 85–86, 88
gold. See precious metals
goldsmiths, 36, 63, 76–77, 80–83
Greenspan, Alan, 73
Gresham’s Law, 20
H
Haberler, Gottfried, 111, 114
Hamilton, Earl J., 38n6
American Treasure and the Price Revolution in Spain, 28
“Imports of American gold and Silver into Spain, 1503–1660,” 26n19
“Law, John,” International Encyclopedia of the Social Sciences, 35n1, 39nn7–8
“The Political Economy of France at the Time of John Law,” 52nn2–3, 57n12
“The Political Economy of France at the Time of John Law” (Hamilton), 58n14
“Prices and Wages At Paris Under John Law’s System,” 53n4, 70–71nn32–33, 72–73nn34–37
Harley, Robert, 86, 88–89
Hayek, Friedrich A., viii, 110
A Free-Market Monetary System and The Pretense of Knowledge, 8n14
Helfferich, Karl, 20
Hildreth, Richard, The History of Banks: To Which is Added, A Demonstration of the Advantages and Necessity of Free Competition in the Business of Banking, 22n10
History of Modern Banks of Issue (Conant), 26n18
History of Monetary and Credit Theory: From John Law to the Present Day (Rist), 74n40
History of Monetary Systems: A Record of Actual Experiments in Money Made By Various States of the Ancient and Modern World (Del Mar), 20n2–3, 21nn5–6, 107n2
History of the Bank of England 1640–1903 (Andréadès), 76–77nn2–5, 81n16, 82–83nn17–19, 83–84nn21–23, 87n30
A History of the Precious Metals (Del Mar), 29n25, 31nn26–27
Hodrick, Robert, 4
Horsefield, Keith, 76–77
Huancavelica mercury mine, 26
Hume, David, 7, 27
I
“Imports of American gold and Silver into Spain, 1503–1660” (Hamilton), 26n19
inflation
free coinage and, 27
Mississippi Bubble and, 8, 46, 73–74, 96, 108–09
severe weather and, 86
Inflation Through The Ages: Economic, Social, Psychological and Historical Aspects, 27n21
An Inquiry into the Nature and Causes of the Wealth of Nations (Smith), 22–25
The International Economy and Monetary Movements in France (van Dillen), 30
International Encyclopedia of the Social Sciences, 35n1
K
Keynes, John Maynard, 105–06
The General Theory of Employment, Interest and Money, 2–3
Keynesian economics, 36, 69, 73, 105–06, 111, 117
Kindleberger, Charles, 1–2
“Bubbles,” The New Palgrave: A Dictionary of Economics, 2n1
A Financial History of Western Europe, 16–17
Manias, Panics, and Crashes: A History of Financial Crises, 15–16
L
land (as money), 42–44, 46, 80–83, 87
Land Bank project, 80–83
Law, John
Bank of Amsterdam as inspiration, 33
banking proposal, 38–40
biographical information, 35–38
effect on English economics, 87–88, 92, 96, 107–10
Euvres complétes, 73n38
Mississippi Bubble and, 3–4, 8, 51–74, 114–15
monetary theories, 41–50
overview, ix
“Law, John,” (Hamilton), 35n1
Law, John, publications by
Money and Trade Considered: With a Proposal for Supplying the Nation With Money, 38, 41–43
The Present State of the French Finances, 68–69nn30–31
Proposals and Reasons for constituting a Council of Trade, 37
Theory of Money, 87–88
“Treatise on Money and Commerce,” 39
Le Gendre d’Arminy, 56–58
Locke, John, 82
London Exchange Alley, 99, 100, 110, 116
Louis XIV (King of France), 38–39, 51, 53, 85
Louisiana, 56–57, 108
“The Low Countries,” An Introduction to the Sources of European Economic History 1500-1800 (van Houtte and van Buyten), 33n29
Lowndes, William, 81–82
M
Mackay, Charles, ix, 11
Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, ixn1, 11, 36n2, 37n4, 38n6, 39nn7–8
Macleod, H.D., 87–88
malinvestment, theory of, 9, 105–17
Malt Lottery, 84
Manias, Panics, and Crashes: A History of Financial Crises (Kindleberger), 15–16
Mary (Queen of England), 79
McCulloch, John C., Principles of Political Economy, 82n17
McGregor, James, “China Cancels Its Red-Hot Stamp Market, But Traders Hope Crackdown Will Pass,” 116n11
Memoirs of Extraordinary Popular Delusions and the Madness of Crowds (Mackay), ixn1, 11, 36n2, 37n4, 38n6, 39nn7–8
Mexico, 26
Million Bank, 99
Mises, Ludwig von, viii, 6, 110, 112, 115
On the Manipulation of Money and Credit, 114n7
Mississippi Company, ix, 48–50, 58–74, 108–110. See also Law, John
Money (Walker), 27nn22–23
money, defined, 7
“Money and the Business Cycle, 111
Money and Trade Considered: With a Proposal for Supplying the Nation With Money (Law), 39, 41–44
Montague, Charles, 77, 78
Murphy, Antoin, 5–6, 44–48, 54, 58–59, 66–68
Richard Cantillon: Entrepreneur and Economist, 56–57nn10–11, 59–60nn15–16, 64nn22–23, 65n27, 73n39, 114n8
N
The New Palgrave Dictionary of Economics, 11
Noailles, Duke of, 53–55, 57
Norman, Montagu, 73
O
“On Testing for Speculative Bubbles” (Flood and Hodrick), 4nn7–9
On the Manipulation of Money and Credit (Mises), 112n5, 114n7, 115
Orléans, Duke of, 38, 39, 53
P
Paterson, William, 77–78
Philip, Duke of Orléans, 38, 39, 53
“The Political Economy of France at the Time of John Law” (Hamilton), 52nn2–3, 57n12, 58n14
Posthumus, N.W., 13–14
precious metals. See also coinage and recoinage
compared to paper money, 48, 73–74, 82–83, 108
free coinage, 19–33
influx into Europe, 26–31
monopoly by government bank, 61–65, 68, 80–83
ties to U.S. dollar, vii
prices, 70–74
“Prices and Wages At Paris Under John Law’s System” (Hamilton), 53n4, 70–71nn32–33, 72–73nn34–37
Principles of Political Economy (McCulloch), 82n17
Proposals and Reasons for constituting a Council of Trade (Law), 37
R
Rational Expectations School, 1–2, 4, 11, 105–06
Recoinage Act of 1696, 80–81
recoinage and coinage, 8, 19–33, 39, 51, 80–83, 107–08
Richard Cantillon: Entrepreneur and Economist (Murphy), 6n10, 54–55nn6–7, 56–57nn10–11, 64nn22–23, 65n27, 73n39, 114n8
Rist, Charles, 3
History of Monetary and Credit Theory: From John Law to the Present Day, 74n40
Rothbard, Murray, viii, 7, 43
America’s Great Depression, 7n11, 113
What Has Government Done to Our Money?, 7n13
Royal African Company, 99, 110
Royal Bank (France), 35–40, 49, 59–74, 108. See also General Bank (of France)
Royal Lustering Company, 100
S
Salerno, Joseph T., 73–74
“Two Traditions in Modern Monetary Theory: John Law and A.R.J. Turgot,” 3n5
Schama, Simon, 31–32
The Embarrassment of Riches, 32n28
silver. See precious metals
“Sixteenth-Century Inflation from a Production Point of View” (Flynn), 27
slave trade, 89
Smith, Adam, An Inquiry into the Nature and Causes of the Wealth of Nations, 22–25
South America. See Americas
South Sea Act, 90–91
The South Sea Bubble (Carswell), 83n20, 86–87nn28–29, 87n31, 92n35, 94–95nn36–37, 101n43
South Sea Company
conversion Acts and, 90–96
establishment of, 88–90
framework of, 49
increase and fall of share prices, 96–103
increase in money supply and, 89–103
influence on John Law, 45
overview, viii, 8
trade cycle theory and, 109–11
Stop of the Exchequer, 76–77
“The ‘Stop of the Exchequer’ Revisited” (Horsefield), 76n3
Strong, Benjamin, 73
Sword Blade Company, 86–88, 92, 109
T
theory of malinvestment, 9, 105–17
Theory of Money (Law), 87–88
time preference, 7, 111–13
trade cycle theory, 6–8, 110–17
“Treatise on Money and Commerce” (Law), 39
Tulipmania
background, 11–17
increase in money supply and, 19–33, 114–16
malinvestment theory and, 106–08
overview, viii–ix, 8
“Tulipmania” Journal of Political Economy 97 (Garber), 11–15nn2–11
“Tulipmania” The New Palgrave: A Dictionary of Economics (Calvo), 11n1
Tunnage Bank, 78–79. See also Bank of England
“Two Traditions in Modern Monetary Theory: John Law and A.R.J. Turgot” (Salerno), 3n5
U
United States, 35. See also Americas
V
van Buyten, Leon, 32–33
van Dillen, J.G., 30
van Houtte, Jan A., 32–33
W
wages, 70–74
Wagner, Richard E., 114
Walker, Francis Amasa, 27n21
Walpole, Robert, 92, 101, 115
War of Spanish Succession, 51–52, 85, 90, 108
Wealth of Nations (Smith), 22–25
Welsh Copper Company, 100
What Has Government Done to Our Money? (Rothbard), 7n13
William of Orange (King of England), 75–76, 79, 85
Writings on Economics (Hume), 7n12
Y
York Buildings Company, 100
