One might be forgiven for believing that the sleazy corporate practices which came to light as the boulder was lifted on Enron earlier in the year are without parallel. One may also be tempted to view the collapse of the internet bubble in spring 2000 contributing to the 40% fall in the Ftse 100 since that time as unique. One would, of course, be very wrong on both counts as is demonstrated in this very readable book about the infamous South Sea bubble share scam of the early 18th century.

The book reveals that financial fraud on a grand scale can be traced back to the very birth of the modern market economy and that the nature of financial fraud has not changed much during the course of three centuries.