South Sea Bubble is perhaps one of history’s best-known financial bubbles and also was among the first. It was a product of the “Financial Revolution” which began in Britain in the late 17th century. An equal but often neglected revolution that contributed significantly to the bubble was the one of “Coffee Houses”, two of which, Jonathan's Coffee House and Garraway's, situated in the exchange alley if London, came to be the primary locations for buying and selling of South Sea Company stock. These coffee houses as they were called back then served as information hubs, spreading and disseminating news and rumours about the South Sea Company and other ventures, which stoked speculation and hype during the bubble's peak in 1719-20.
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From Kaffa With Love – How Coffee Conquered…
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South Sea Bubble is perhaps one of history’s best-known financial bubbles and also was among the first. It was a product of the “Financial Revolution” which began in Britain in the late 17th century. An equal but often neglected revolution that contributed significantly to the bubble was the one of “Coffee Houses”, two of which, Jonathan's Coffee House and Garraway's, situated in the exchange alley if London, came to be the primary locations for buying and selling of South Sea Company stock. These coffee houses as they were called back then served as information hubs, spreading and disseminating news and rumours about the South Sea Company and other ventures, which stoked speculation and hype during the bubble's peak in 1719-20.