University of Cambridge > Talks.cam > Financial History Seminar > 'Reflections from the Mirror of Folly: Lord Londonderry and the Stock Market Bubbles of Paris, Amsterdam and London in 1720'

'Reflections from the Mirror of Folly: Lord Londonderry and the Stock Market Bubbles of Paris, Amsterdam and London in 1720'

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If you have a question about this talk, please contact D'Maris Coffman.

The experiences of Lord Londonderry during the bubble year of 1720 took him in succession through the Mississippi bubble in Paris, the South Sea bubble in London, a brief boom in Dutch West Indies stock in Amsterdam. He even initiated a bubble company of his own, the Bahamas Society in mid-1720. Although his speculations were undone time after time, in each case he managed to hedge his risks with a variety of stratagems moving among the several securities markets of the time. His resiliency in response to each setback provides an alternative set of moral lessons — the value of animal spirits combined with bourgeois virtues and perseverance to overcome adversity.

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This talk is part of the Financial History Seminar series.

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