Always Has Been: Chapter 1: The South Sea Bubble of 1717

The South Sea Bubble of 1717 was a major financial crash following speculative investment in the South Sea Company. Promoted by John Blunt, the company had exclusive trade rights in South America and promised high returns, sparking fervent investment and an unsustainable surge in share prices. When the bubble burst, it led to widespread financial ruin, significantly impacting public confidence in speculative assets. The crash exposed market vulnerabilities and prompted closer scrutiny of investment practices.