| Description |
1 online resource (streaming video file) (47 min. 55 sec.) ; 287572357 bytes |
| Summary |
Why do stock markets produce bubbles and busts? Professor Niall Ferguson goes back to the origins of the joint stock company in 17th century Amsterdam and Paris. He tells us that the United Dutch East India Company was the first joint stock company in history. Ferguson draws telling parallels between the recent stock market crash and the 18th century Mississippi Bubble of Scottish renegade murderer and gambler, later financier, John Law, who was the perpetrator of the first stock market 'bubble' in 1720.He shows why humans have a herd instinct when it comes to investment, and why no one can accurately predict when the bulls might stampede.We learn that after the stock market crash in 1929 the market lost a staggering 86%, reaching its nadir in 1932. One quarter of the population of the United States was unemployed.Why did the 1929 crash happen, and indeed why does any crash happen? This remains one of the most hotly debated questions in financial history.Professor Ferguson explains why Enron, the company responsible for one of the biggest financial scandals in modern history, and that was declared bankrupt in 2001, pioneered the dubious business practices that continue to plague us today.PRODUCTION DETAILS:Presenter: Niall Ferguson; Director: Adrian Pennick; Producer: Melaine Fall; A Chimerica Media Production.= |
| Event |
Broadcast 2011-09-01 at 11:00:00 |
| Notes |
Classification: G |
| Subject |
Enron Corp.
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Financial crises -- Economic aspects.
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Law, John, 1671-1729.
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Nederlandsche Oost-Indische Compagnie.
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Stock companies.
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France -- Paris.
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| Form |
Streaming video
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| Author |
Ferguson, Niall, host
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Pennick, Adrian, director
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