Thomas Levenson, who has written a brilliant account of the crisis, sat down with financier David Durlacher to discuss how the events echo today’s markets.
The South Sea Bubble in 1721 was the first stock market crash of its kind, and ushered into the modern era a new way of managing government debt. Thomas, what parallels should we draw between the South Sea Bubble and more recent bubbles of today, like the dot-com...