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Enterprise and Society 2005 6(4):724-726; doi:10.1093/es/khi113
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© The Author 2005. Published by Oxford University Press on behalf of the Business History Conference. All rights reserved. For permissions, please e-mail: journals.permissions@oxfordjournals.org.

Richard Dale. The First Crash: Lessons from the South Sea Bubble. Princeton, N.J.: Princeton University Press, 2004. vi + 192 pp. ISBN 0-691-11971-6, $29.95.

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In The First Crash: Lessons from the South Sea Bubble Richard Dale offers an easy-to-read history of the South Sea Bubble of 1720. Though many others have written on the subject, Dale pens this contribution to argue that the South Sea Bubble was driven by irrational investors. Because the South Sea Bubble was the first modern financial bubble, Dale seeks to establish that irrational behavior began forming bubbles three . . . [Full Text of this Article]

Stephen Quinn

Texas Christian University


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