South Sea Bubble burst in 1720, wiping out fortunes and plunging Britain into its first major stock‑market crisis. The collapse of the South Sea Company, a government‑backed scheme that promised to turn national debt into riches, left the country’s finances in disarray and threatened the credibility of the state.

Into this chaos stepped Robert Walpole. Charged with restoring confidence, he restructured the government’s debts and laid the foundations for Britain’s emergence as a financial superpower. In doing so, he became the country’s first de‑facto prime minister, a title he initially rejected because it was widely used as an insult.

The episode features Robin Wigglesworth and Gillian Tett exploring Walpole’s rise, with insights from Thomas Levenson, professor of science writing at MIT. It also references Levenson’s book *Money for Nothing*.

Listeners can subscribe to *The Story of Money* on their favourite podcast platform or watch the show’s dedicated YouTube channel for more context.