jan 23, 1720 - South Sea Bubble
Description:
- the first boom and bust
- brought a heightened awareness that signs have an uncertain basis in reality
(they can be exhilarating but may not be based in something real)
- in literature, this becomes reflected in the distinction between what is real and what is a contrived illusion
- brought to attention the fantastical quality of modern wealth, its affinity with fiction, its dependency on credit
- Swift and Pope - literary satirists - inspired by the reckless energy of the economy - sustained by nothing more than paper credit
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