ARCHIBALD HUTCHESON’S REPUTATION AS AN ECONOMIC THINKER: HIS PAMPHLETS, THE NATIONAL DEBT AND THE SOUTH SEA BUBBLE

ARCHIBALD HUTCHESON’S REPUTATION AS AN ECONOMIC THINKER: HIS PAMPHLETS, THE NATIONAL DEBT AND THE SOUTH SEA BUBBLE

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Archibald Hutcheson M.P. (c. 1659-1740) was a British politician who opposed the South Sea Company's scheme to offer holders of British government debt its own shares in exchange for their claims on the state. Hutcheson proposed an alternative scheme to pay off the entire debt by increasing tax...

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Bibliographic Details
Main Author: Helen Paul
Format: Article
Language:English
Published: Economic & Business History Society 2012-06-01
Series:Essays in Economic and Business History
Online Access:https://www.ebhsoc.org/journal/index.php/ebhs/article/view/222
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spelling doaj-12f8f0bc900b41ba8fdce4d4cc0afee72020-11-25T03:18:17ZengEconomic & Business History SocietyEssays in Economic and Business History0896-226X2012-06-0130193104222ARCHIBALD HUTCHESON’S REPUTATION AS AN ECONOMIC THINKER: HIS PAMPHLETS, THE NATIONAL DEBT AND THE SOUTH SEA BUBBLEHelen PaulArchibald Hutcheson M.P. (c. 1659-1740) was a British politician who opposed the South Sea Company's scheme to offer holders of British government debt its own shares in exchange for their claims on the state. Hutcheson proposed an alternative scheme to pay off the entire debt by increasing taxes on land. Despite Hutcheson’s opposition to the South Sea conversion scheme, it went ahead, to be followed by the South Sea Bubble and then the bursting of the bubble with the crash of the London stock market in 1720. Scholar Richard Dale has argued that Hutcheson predicted the crash by using sophisticated financial techniques. Refuting Dale’s view, this article argues that Hutcheson’s posthumous reputation as a savant is undeserved.https://www.ebhsoc.org/journal/index.php/ebhs/article/view/222
collection DOAJ
language English
format Article
sources DOAJ
author Helen Paul
spellingShingle Helen Paul
ARCHIBALD HUTCHESON’S REPUTATION AS AN ECONOMIC THINKER: HIS PAMPHLETS, THE NATIONAL DEBT AND THE SOUTH SEA BUBBLE
Essays in Economic and Business History
author_facet Helen Paul
author_sort Helen Paul
title ARCHIBALD HUTCHESON’S REPUTATION AS AN ECONOMIC THINKER: HIS PAMPHLETS, THE NATIONAL DEBT AND THE SOUTH SEA BUBBLE
title_short ARCHIBALD HUTCHESON’S REPUTATION AS AN ECONOMIC THINKER: HIS PAMPHLETS, THE NATIONAL DEBT AND THE SOUTH SEA BUBBLE
title_full ARCHIBALD HUTCHESON’S REPUTATION AS AN ECONOMIC THINKER: HIS PAMPHLETS, THE NATIONAL DEBT AND THE SOUTH SEA BUBBLE
title_fullStr ARCHIBALD HUTCHESON’S REPUTATION AS AN ECONOMIC THINKER: HIS PAMPHLETS, THE NATIONAL DEBT AND THE SOUTH SEA BUBBLE
title_full_unstemmed ARCHIBALD HUTCHESON’S REPUTATION AS AN ECONOMIC THINKER: HIS PAMPHLETS, THE NATIONAL DEBT AND THE SOUTH SEA BUBBLE
title_sort archibald hutcheson’s reputation as an economic thinker: his pamphlets, the national debt and the south sea bubble
publisher Economic & Business History Society
series Essays in Economic and Business History
issn 0896-226X
publishDate 2012-06-01
description Archibald Hutcheson M.P. (c. 1659-1740) was a British politician who opposed the South Sea Company's scheme to offer holders of British government debt its own shares in exchange for their claims on the state. Hutcheson proposed an alternative scheme to pay off the entire debt by increasing taxes on land. Despite Hutcheson’s opposition to the South Sea conversion scheme, it went ahead, to be followed by the South Sea Bubble and then the bursting of the bubble with the crash of the London stock market in 1720. Scholar Richard Dale has argued that Hutcheson predicted the crash by using sophisticated financial techniques. Refuting Dale’s view, this article argues that Hutcheson’s posthumous reputation as a savant is undeserved.
url https://www.ebhsoc.org/journal/index.php/ebhs/article/view/222
work_keys_str_mv AT helenpaul archibaldhutchesonsreputationasaneconomicthinkerhispamphletsthenationaldebtandthesouthseabubble
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