THE BUBBLE ACT - ITS PASSAGE AND ITS EFFECTS ON BUSINESS ORGANIZATION

• 成果类型: Article
• 署名作者: Columbia University
• 刊物名称: JOURNAL OF ECONOMIC HISTORY
• ISSN/ISSBN: 0022-0507
• DOI: 10.1017/S0022050700015059
• 发表日期: 1994
• 页码: 610-627
• 关键词: POLITICAL-ECONOMY

摘要

By surveying contemporary sources this article reveals direct evidence for the involvement of the South Sea Company in the passage of the Bubble Act. The dominant position of the Company and of its national debt conversion scheme in the affairs of England in 1720 support the conclusion that the act was in fact a piece of special-interest legislation for the Company. The short-term interest that motivated the enactment, together with the limited legal and economic effects of the act, minimized its significance as a turning point in the long-term development of the English joint-stock company.