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04435aam a2200397Ii 4500 001 B75F6F6EA5B811ECBC4A196C2DECA4DB 003 SILO 005 20220317010139 008 210325t20212020nyuab b 001 0 eng d 020 $a 9780812987966 020 $a 0812987969 035 $a (OCoLC)1243261984 040 $a YDX $b eng $e rda $c YDX $d BDX $d YDX $d OCLCF $d OCLCO $d NUI $d IaU $d SILO 043 $a e-uk-en 050 4 $a HC254.5 $b .L48 2021 082 04 $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. 250 $a 2021 Random House trade paperback edition. 264 1 $a New York : $b Random House, $c 2021. 300 $a xv, 453 pages : $b illustrations, maps ; $c 21 cm 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. 504 $a Includes bibliographical references (pages 411-433) and index. 505 0 $a Introduction: "The great follies of life" -- Part one: Counting and thinking. "The system of the world" -- "To make a par and equation between lands and labour" -- "Very probably conjectures" -- "Mere opinion" -- "More paper credit" -- "John Castaing, broker, at his office" -- "Some way to answer these demands" -- Part two: Money's magic power. "An exquisite management" -- "Many conferences and considerations" -- "True to, and exact in, the performance of the general work" -- "Resolving to be rich" -- "The humour of the town" -- "If the computations I have made, be right..." -- "The largest honest fortune..." -- "How goes the stock" -- "A mighty handsome entertainment" -- Part three: The fall and rise of money. "The people were now...terrified to the last degree" -- "No man understood calculation and numbers better than he" -- "A great and general calamity" -- "Without a breach of parliamentary faith" -- "Mercy may be cruelty" -- "Ringing their bells" -- "It cannot be cured" -- Epilogue: "An endemic disease". 648 7 $a 1700-1799 $2 fast 650 0 $a Stock exchanges $z England $x History $y 18th century. 650 0 $a Debts, Public $z England $x History $y 18th century. 650 7 $a Debts, Public. $2 fast $0 (OCoLC)fst00888850 650 7 $a Economic history. $2 fast $0 (OCoLC)fst00901974 650 7 $a Stock exchanges. $2 fast $0 (OCoLC)fst01133564 651 0 $a England $x Economic conditions $y 18th century. 651 7 $a England. $2 fast $0 (OCoLC)fst01219920 655 7 $a History. $2 fast $0 (OCoLC)fst01411628 941 $a 1 952 $l OVUX522 $d 20231117023202.0 956 $a http://locator.silo.lib.ia.us/search.cgi?index_0=id&term_0=B75F6F6EA5B811ECBC4A196C2DECA4DBInitiate Another SILO Locator Search