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Babbage’s Age of Speculation: Calculating the Value of Life After the Repeal of the Bubble Act

In: The Bubble Act

Author

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  • Edward Gillin

    (Bartlett School of Sustainable Construction, University College London)

Abstract

The financial chaos of 1825 constituted a crisis of confidence for British audiences. But for Charles Babbage, this represented a brilliant moment to emphasise the virtues of automated calculation. Concerned with the life assurance industry, he seized on this opportunity to draw out the virtues of applied mathematical analysis for the calculation of human life and annuities. Here was a financial practice that he believed could be elevated above speculation through the application of mathematical calculation.

Suggested Citation

  • Edward Gillin, 2023. "Babbage’s Age of Speculation: Calculating the Value of Life After the Repeal of the Bubble Act," Palgrave Studies in the History of Finance, in: Helen Paul & Nicholas Di Liberto & D`Maris Coffman (ed.), The Bubble Act, chapter 0, pages 221-241, Palgrave Macmillan.
    • Handle: RePEc:pal:psitcp:978-3-031-31894-8_10
    DOI: 10.1007/978-3-031-31894-8_10
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