The Great Swindle: The Story of the South Seas Bubble by Virginia Cowles

The Great Swindle: The Story of the South Seas Bubble
by Virginia Cowles

Book Description: Harper & Brothers Publishers, New York, 1960. Hardcover. 1st Edition. 8vo - over 7¾ - 9¾" tall. Hardcover, 1/4 Purple cloth X Black cloth with gilt title to spine, Stated First Edition 1960.

Book Condition: Good, spine slightly cocked (1/16"), corners square, spine extremes faded, general shelfwear, endpapers and pages tanned otherwise no marks.

Dust Jacket Condition: Fair, extremely rubbed, price clipped, tanned, soiled, chipped and a few small tears.

Contents: Prelude, The Earl of Oxford, Chapter I. The Court and the Company, II. Mr. Law and the Mississippi Room, III. The South Sea Scheme, IV. Trouble in Paris, V. London Goes Mad, VI. Crime and Punishment, VII. The End of the Affair, Index. 191 Pages. -- This story is still one of the greatest examples of a speculation bubble and it's dangers, yet even after almost 300 years many still are unfamiliar with it.

As I post this book today (Mar, 2011), I can see the evidence that America is yet again in another asset bubble. This time the speculation is being fueled by artificially low interest rates and two rounds of quantitative easing. It will be interesting to see how it plays out.

As for this book, it's always fascinating reading and offers much more detail then that given in Charles MacKay account given in "Extraordinary Popular Delusions," (1841). A must read for every trader to understand the psychosis that accompanies fast moving asset bubbles. Especially those that run counter to prevailing economic conditions. Highly Recommended. 191 pages.

Status: Alanpuri Trading Private Collection