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03377aam a22003978i 4500 001 94D81634E37311EAB60C0E5E97128E48 003 SILO 005 20200821010014 008 200123t20202020nyua b 001 0 eng 010 $a 2020001521 020 $a 0812998464 020 $a 9780812998467 035 $a (OCoLC)1120949636 040 $a DLC $b eng $e rda $c DLC $d OCLCF $d OCLCO $d GK8 $d OCL $d UAP $d IOU $d SILO 042 $a pcc 043 $a e-uk-en 050 00 $a HC254.5 $b .L48 2020 082 00 $a 330.942/07 $2 23 100 1 $a Levenson, Thomas, $e author. 245 10 $a Money for nothing : $b the scientists, fraudsters, and corrupt politicians who reinvented money, panicked a nation, and made the world rich / $c Thomas Levenson. 246 30 $a Scientists, fraudsters, and corrupt politicians who reinvented money, panicked a nation, and made the world rich 250 $a First edition. 264 1 $a New York : $b Random House, $c [2020] 300 $a xv, 453 pages : $b illustrations ; $c 25 cm 504 $a Includes bibliographical references (pages 341-433) and index. 520 $a "Money for Nothing chronicles the moment when the needs of war, discoveries of natural philosophy, and ambitions of investors collided. It's about how the Scientific Revolution intertwined with finance to set England--and the world--off in an entirely new direction. At the dawn of the eighteenth century, England was running out of money due to a prolonged war with France. Parliament tried raising additional funds by selling debt to its citizens, taking in money now with the promise of interest later. It was the first permanent national debt, but still they needed more. They turned to the stock market--a relatively new invention itself--where Isaac Newton's new mathematics of change of time, which he applied to the motions of the planets and the natural world, were fast being applied to the world of money. What kind of future returns could a person expect on an investment today? The Scientific Revolution could help. In the hub of London's stock market--Exchange Alley--the South Sea Company hatched a scheme to turn pieces of the national debt into shares of company stock, and over the spring of 1720 the plan worked brilliantly. Stock prices doubled, doubled again, and then doubled once more, getting everyone in London from tradespeople to the Prince of Wales involved in a money mania that consumed the people, press, and pocketbooks of the empire. Unlike science, though, with its tightly controlled experiments, the financial revolution was subject to trial and error on a grand scale, with dramatic, sometimes devastating consequences for people's lives. With England at war and in need of funds and "stock-jobbers" looking for any opportunity to get in on the action, this new world of finance had the potential to save the nation-- but only if it didn't bankrupt it first"-- $c Provided by publisher. 651 0 $a England $x Economic conditions $y 18th century. 650 0 $a Stock exchanges $z England $x History $y 18th century. 650 0 $a Debts, Public $z England $x History $y 18th century. 941 $a 4 952 $l USUX851 $d 20220506012844.0 952 $l GBPF771 $d 20210105034732.0 952 $l ORAX826 $d 20201103010222.0 952 $l BAPH771 $d 20200821010042.0 956 $a http://locator.silo.lib.ia.us/search.cgi?index_0=id&term_0=94D81634E37311EAB60C0E5E97128E48 994 $a C0 $b IOUInitiate Another SILO Locator Search