A Parcel of Rogues and the Darien Bust: How a Failed Attempt at Empire Bankrupted a Nation and Cost It Its Independence

Boom & Bust

At the end of the 17th Century, Scotland was in a bad place. Failed harvests combined with what amounted to economic sanctions against it by its larger, more powerful English neighbour, part of a more general mercantilist approach to international trade, were strangling its economy. That prompted the Scottish elite to attempt the founding a Scottish colony that would act as an entrée into international trade. Instead, it all went catastrophically wrong, bankrupting the nation and opening the door to union with the neighbour that had helped cause the disaster. This is the story of the Darien Scheme, which cost a small nation its independence. (The audio has been edited to remove a minor inaccuracy.)