Organizations and Markets

Ferguson on Financial History and the Crash

22 May 2009 at 3:56 pm Dick Langlois 1 comment

| Dick Langlois |

I too loved the Ferguson piece in the New York Times. More sound bites: “In the months ahead,” he predicts, “the world will reverberate to the sound of stable doors being shut long after the horses have bolted, and history suggests that many of the new measures will do more harm than good. The classic example is the legislation passed during the British South-Sea Bubble to restrict the formation of joint-stock companies. The so-called Bubble Act of 1720 remained a needless handicap on the British economy for more than a century.”

Entry filed under: - Langlois -, Bailout / Financial Crisis, Business/Economic History, Financial Markets.