What is one of the earliest examples of a financial crisis?
We’ve had financial crises since we’ve had markets. One of the best-known examples is the tulip bulb mania of 17th-century Amsterdam, a wild speculative investment bubble in tulips, which at the peak sold for ten times the annual income of skilled artisans. It was the Dutch who created banking institutions as we recognise them today and the first ‘modern’ capitalist society. They invented the stock exchange and the model for a central bank. Following the Wars of Religion, the Dutch were also the first to introduce a very pragmatic version of tolerance – Protestant, Catholic or Jewish, you could do business together. People began to get much more excited about money and what they could do with it.
One of the most infamous financial crises is the 1929 stock market crash. What is the background to this?
Diese Geschichte stammt aus der Issue 146-Ausgabe von All About History UK.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der Issue 146-Ausgabe von All About History UK.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
THE MINISTRY OF UNGENTLEMANLY WARFARE
Guy Ritchie's entertaining WWII thriller throws light on Operation Postmaster
SURVIVING A FINANCIAL CRISIS
Jame DiBiasio explores how financiers can learn from the mistakes of the past
FORT KNOX BULLION DEPOSITORY
United States 1937-present
MUSSOLINI HAD JOINED THE ALLIES?
Driven by ambition, Italy's participation in the Axis war effort led to the collapse of its empire, the fall of the Fascist Party and Mussolini's death Interview
BATTLE OF DETTINGEN
DETTINGEN (MODERN-DAY KARLSTEIN AM MAIN, GERMANY), 27 JUNE 1743
THE USSR's FAKE OLYMPICS,
Having boycotted the 1984 games in Los Angeles, the Soviet Union hosted its own competition
Hürrem Sultan
From slave girl to imperial consort, how one girl captured the heart of an emperor to become the most powerful woman in Ottoman history
OVERTHROWING THE MONGOLS
How a Buddhist rebellion toppled the mighty empire and began the rise of the Ming dynasty Written
MAKING A MONSTER
Natalie Lawrence explores the creation of enchanted creatures through 15,000 years of history Interview
SECRETS OF THE PYRAMIDS
From sacred rituals to hidden treasure, uncover why these world wonders were built