Abstract

The essay explains the rise of horse racing in England around 1700 with reference to the Financial Revolution in the wake of the Glorious Revolution. This period saw a considerable increase in the money supply, without any improved consumption opportunities being opened up to contemporaries. Therefore, the available money was spent on speculative purposes, including option trading in the City of London and horse betting—two commercial activities that were very similar in practice. The essay reconstructs the reciprocal impulses that the two activities gave each other, and analyzes some problematic side effects.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.