Colonial America was not awash in corporate entities of any kind; no country was. However, one of the oldest corporations in America, one even older than the Unites States itself, was also among the first life insurance firms in the world. The establishment of the Presbyterian Ministers’ Fund is a significant event in the history…
In 1982, the third largest stock market in the world crashed, losing 60% of its value over three months. This occurred not in America or Japan, but in Kuwait. The tiny Persian Gulf state of a million and a half people had become enriched by oil money which flooded into its financial sector from investors…
Banking as we know it today was hardly in existence before the 17th century. However, there was something of a financial revolution in late medieval Italy and it saw a new type of firm offer financial services, and indeed banking services, taking deposits and lending money, even across national borders. These firms were principally interested…
In 1720, Britain was gripped by the South Sea Bubble. At its center, the South Sea Company, established to consolidate government debt and trade with South America, saw its stock price multiply several times over before crashing to end the year close to where it started. However, several firms saw speculative mania drive their stock…
After the start of the First World War, numerous countries’ monetary authorities suspended their gold standards. Many reverted back to gold after the war only to abandon it once more during the Great Depression. During this era, the question of what money was, and what it should or shouldn’t be, were debated more than ever…
