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Scotland a feckless and invisible nation

May 27, 2012

Lenathehyena's Blog

A recent commentator in the Financial Times, -Merryn Somerset Webb, used Douglas Watt’s The Price of Scotland to provide her with an example of mad-cap economics:

‘It’s a fantastic run-through of the “catastrophic failure” of the Darien scheme – the creation of the Company of Scotland to establish a Central American colony. This failure (a result of horrible financial mismanagement and shockingly bad strategy) and the huge financial losses that came with it, made Darien what Watt calls a “central ingredient” in the eventual marriage of convenience between the two countries. “The Price of Scotland” refers to the huge sum of money transferred from England to Scotland on union, the majority of which went to pay back the losses of the original investors in the Company of Scotland. I suspect we’ll be returning to this one here another day.

Not only is it a good lead-in to everything from joint…

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