The dynamics of sock speculation; the formation of stock companies in the silver mining district of Caracoles, 1870-1878

Abstract

The purpose of this article is to identify, within the context of the Chilean economy, the factors responsable for the extraordinary number of stock companies organized between 1870 and 1878 to exploit the Caracoles silver mining district, and to determine the causes which led to their swift decline, among them the esentially speculative nature of such enterprises.