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The Mississippi Bubble was one of history’s most spectacular financial crashes. The royal French financial system never recuperated fully from the blow. The way in which the Mississippi Company used its political clout to manipulate share prices and fuel the buying frenzy caused the public to lose faith in the French banking system and in the financial wisdom of the French king. Louis XV found it more and more difficult to raise credit. This became one of the chief reasons that the overseas French Empire fell into British hands. While the British could borrow money easily and at low interest rates, France had difficulties securing loans, and had to pay high interest on them. In order to finance his growing debts, the king of France borrowed more and more money at higher and higher interest rates. Eventually, in the 1780s, Louis XVI, who had ascended to the throne on his grandfather’s death, realised that half his annual budget was tied to servicing the interest on his loans, and that he was heading towards bankruptcy. Reluctantly, in 1789, Louis XVI convened the Estates General, the French parliament that had not met for a century and a half, in order to find a solution to the crisis. Thus began the French Revolution.
Sapiens
Yuval Noah Harari
5. The Danger and Consequences of Superpowers Making Initial Contact with Extraterrestrial Intelligence and Monopolizing Such Contact (1) Analysis of consequences of American Imperialists and NATO making initial contact with extraterrestrial intelligence and monopolizing such contact: [still classified] (2) Analysis of consequences of Soviet Revisionists and Warsaw Pact making initial contact with extraterrestrial intelligence and monopolizing such contact: [still classified] [Instructions from Central Leadership] Others have already sent their messages out into space. It’s dangerous if extraterrestrials only hear their voices. We should speak up as well. Only then will they get a complete picture of human society. It’s not possible to get the truth by only listening to one side. We must make this happen, and quickly.
The Three-Body Problem
Cixin Liu and Ken Liu
When humans domesticated fire, they gained control of an obedient and potentially limitless force. Unlike eagles, humans could choose when and where to ignite a flame, and they were able to exploit fire for any number of tasks. Most importantly, the power of fire was not limited by the form, structure or strength of the human body. A single woman with a flint or fire stick could burn down an entire forest in a matter of hours. The domestication of fire was a sign of things to come.
Sapiens
Yuval Noah Harari
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