jan 1, 1720 - South Sea Bubble
Description:
The south sea bubble was an economic bubble formed by the English government to create a monopoly that could take on all of england's debt. This scheme was done at the expense of the population of britain who suffered a major depression at the dissolution of the south sea company and the scandal marked a major shift in the political figures of the nation. This was a major economic shift as many voters resented the previous parties that both allowed and participated in the establishment of the monopoly and the government was altered to have much less power over such economic decisions. This would lead to the rise of prominent historical figures like Sir robert Walpole, who became the first prime minister of England
Added to timeline:
18th century
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