The South Sea Bubble and the Rise of the State of Capital

[Scot Griffin]

Bichler’s and Nitzan’s Capital as Power, Di Muzio’s and Robbbins’ Debt as Power and Di Muzio’s The Tragedy of Human Development all at least mention the South Sea Bubble, and Debt as Power has a fairly lengthy discussion of it, but not one that focuses on the nexus of the South Sea Company, the Bank of England and the United Kingdom as the first clear example of a modern state of capital. Has anybody published a CasP-based analysis of the South Sea Bubble from that angle?

One thing that interests me is the public, popular reaction to the South Sea Bubble, particularly Cato’s Letters, which have been become central to neoliberal/libertarian canon. One thing “Cato” was concerned about was power, particularly its abuse.

 

 

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