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Early Speculative Bubbles & Increases in the Money Supply 2nd edition by French, Douglas E. (2009) Paperback

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Early Speculative Bubbles & Increases in the Money Supply 2nd edition by French, Douglas E. (2009) Paperback

4.85 94,963 ratings · 8,490 reviews
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Overview: The Housing Bubble was hardly the first in human history. What's eluded historians is the same issue that eludes commentators today: the underlying cause of bubbles.This book is the first (and only) book to solve the mystery of the most famous bubble in world history: Tulipmania in 17th century Netherlands. It Is a legendary event but explanations have been lacking. People blame irrational exuberance, free markets, and an unleashed aristocracy.Douglas French takes a different route: he follows the money to prove that the bubble resulted from a government intervention that dramatically exploded the money supply and fueled the tulip-price bubble – not altogether different from modern bubbles.This book was French’s Master’s thesis written under the direction of Murray Rothbard and examining three of the most famous speculative bubble episodes in history through the lens of Austrian Business Cycle Theory.Although each of these episodes is well documented, this book examines the monetary interventions that engendered each of these events showing that not only the Mississippi Bubble and the South Sea Bubble were caused by government meddling, but Tulipmania was as well.Tulipmania was unique in that it was the sound money policy of the Dutch combined with free coinage laws that led to an acute increase in the supply of money and fostered an atmosphere that was ripe for speculation and malinvestment, manifesting itself in the intense trading of tulip bulbs.The author examines not only the Mississippi Bubble but also the life and monetary theories of its architect, John Law. Professor Joe Salerno calls Law the world’s first macroeconomist who implemented a Keynesian monetary system in France nearly two hundred years before Keynes was born. At the same time across the English Channel, a nearly bankrupt British government looked on with envy at Law’s system, believing that he was working a financial miracle. It was anything but this and investors in both countries were devastated.Although these episodes occurred centuries ago, readers will find the events eerily similar to today’s bubbles and busts: low interest rates, easy credit terms, widespread public participation, bankrupt governments, price inflation, frantic attempts by government to keep the booms going, and government bailouts of companies after the crash.When will we learn? We first have to get cause and effect in history straight. This book is an excellent contribution to that effort. * Chapter 1: The Greater Fool Theory * Chapter 2: Tulipmania * Chapter 3: Free Coinage, the Bank of Amsterdam, and Tulipmania * Chapter 4: John Law, Genius or Swindler * Chapter 5: John Law's Monetary Theories * Chapter 6: The Mississippi Bubble * Chapter 7: The South Sea Bubble * Chapter 8: Increases in the Supply of Money, Speculative Bubbles, and the Austrian Malinvestment Theory * Bibliography * Index Copied From:http://mises.org/document/3628/Early-...

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Pages 144
Language Eng
Publisher Ludwig von Mises Institute
Published January 1, 2009
ISBN 8247819
Sponsored Content
Douglas E. French
About the Author
Douglas E. French
15,590 Followers

After spending years working in the corporate world, Douglas E. French finally decided to pursue a lifelong passion for writing. They currently reside in a quiet suburb where they spend most of their time outlining new stories, reading extensively, and occasionally attempting to bake.

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James Adams
James Adams June 04, 2024
I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
Kenneth Gonzalez
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Took a moment to build, but the payoff was spectacular. The protagonist was compelling, though some subplots felt slightly overshadowed. A wonderful companion for a quiet weekend.
George Thompson
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A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem.
Paul Williams
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A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem.
Amanda Martinez
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Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author.
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Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece.
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Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
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Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
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Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars.
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I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. I would highly recommend this to discerning readers.
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I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
Thomas Campbell
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A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece.
Sharon Sanchez
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A very strong entry. A brilliant concept executed with flair. Just a few pacing choices I would change. A solid 4 stars from me.
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Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
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I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers.
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Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
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Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
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Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
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Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre.
Matthew Sanchez
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Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
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Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars.
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A very strong entry. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. Quite impressive overall.
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Rebecca Ramirez
Rebecca Ramirez February 13, 2024
Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars.
Amanda Martinez
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Excellent, though slightly flawed. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me.
Stephanie King
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Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
Christopher Evans
Christopher Evans September 15, 2024
I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel.
Carol Thompson
Carol Thompson June 13, 2024
A highly sophisticated read. A brilliant concept executed with flair. Just a few pacing choices I would change. I would highly recommend this to discerning readers.
Christopher Garcia
Christopher Garcia April 15, 2024
Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author.
Andrew Johnson
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Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem.
Matthew Hill
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Emily Flores
Emily Flores August 27, 2024
A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre.
Mark Moore
Mark Moore April 29, 2025
Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
Matthew Martinez
Matthew Martinez May 02, 2024
Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre.
Thomas Young
Thomas Young August 29, 2024
Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author.
Joshua Hernandez
Joshua Hernandez September 21, 2024
I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
Dorothy Brown
Dorothy Brown April 28, 2025
I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
Matthew Martinez
Matthew Martinez June 08, 2025
I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem.
Christopher Allen
Christopher Allen September 02, 2024
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Charles Walker
Charles Walker February 08, 2024
A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author.
Margaret Allen
Margaret Allen December 16, 2024
Honestly one of the most premium reading experiences lately. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem.
John Hall
John Hall February 17, 2024
I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem.
Paul Hall
Paul Hall November 11, 2025
Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
Joseph Hall
Joseph Hall August 31, 2025
Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece.
Deborah Gonzalez
Deborah Gonzalez October 27, 2024
I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem.
Jessica Thomas
Jessica Thomas October 26, 2025
A decent, if standard, experience. The prose was competent, yet the characters lacked the depth I usually seek. Suitable if your reading queue is empty.
Karen Phillips
Karen Phillips April 22, 2025
I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel.
Stephanie Rodriguez
Stephanie Rodriguez August 11, 2025
I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem.
Jessica Diaz
Jessica Diaz September 10, 2025
Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers.
Amanda Torres
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Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
David Lee
David Lee April 15, 2024
I find myself somewhat conflicted. The prose was competent, yet the characters lacked the depth I usually seek. Perfectly average.
Nancy Mitchell
Nancy Mitchell May 24, 2024
Took a moment to build, but the payoff was spectacular. It held my rapt attention, even when certain twists were telegraphed. A very distinguished novel.
Richard Torres
Richard Torres February 21, 2024
A decent, if standard, experience. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Perhaps more aligned with a different audience's tastes.
Paul Hall
Paul Hall July 19, 2024
Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem.
Mary Baker
Mary Baker November 03, 2025
Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading.
Joshua Mitchell
Joshua Mitchell June 08, 2024
Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece.
Amanda Evans
Amanda Evans February 03, 2024
A decent, if standard, experience. Certain acts were fascinating, while others felt like a slight endeavor to complete. Suitable if your reading queue is empty.
Cynthia Campbell
Cynthia Campbell January 05, 2024
Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece.
Thomas Baker
Thomas Baker September 15, 2025
Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author.
Melissa Jones
Melissa Jones February 21, 2025
Honestly one of the most premium reading experiences lately. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author.
Joshua Thomas
Joshua Thomas December 31, 2024
A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece.
Jennifer Wilson
Jennifer Wilson October 22, 2024
It was adequate. The prose was competent, yet the characters lacked the depth I usually seek. Perfectly average.
John Nelson
John Nelson August 24, 2024
Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars.
Matthew Roberts
Matthew Roberts July 25, 2024
A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author.
James Evans
James Evans November 15, 2024
I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece.
Ashley Jones
Ashley Jones February 03, 2025
Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre.
Mary Robinson
Mary Robinson March 21, 2025
Excellent, though slightly flawed. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend.
Carol Reyes
Carol Reyes March 24, 2025
It was adequate. It verged on repetitive in the second act. A more concise edit would have served it well. Suitable if your reading queue is empty.
Margaret Green
Margaret Green September 14, 2025
Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
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