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?
This story is from the Issue 146 edition of All About History UK.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the Issue 146 edition of All About History UK.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
JAPAN HAD INVADED INDIA?
In 1944, the war in South Asia reached a critical moment as Japanese offensives threatened Allied control of north-eastern India and beyond
BATTLE OF EYLAU
PREUSSISCH EYLAU, EAST PRUSSIA (NOW BAGRATIONOVSK, KALININGRAD OBLAST, RUSSIA) 7-8 FEBRUARY 1807
"HENRY V WAS THE PERFECT MEDIEVAL KING"
Historian Dan Jones discusses the kingship of Henry V and his passion for medieval history.
The Mother of a Nation
Uncover the life, art & mysterious legacy of Shin Saimdang
James Baldwin
This author, essayist, playwright, poet, activist and wit used his work to challenge prejudice.
PLAYING With HISTORY
Game designers David Thompson and Dave Neale discuss turning the past into a tabletop experience.
Queen ANCIENT Lovers
Romance took many forms, even in the earliest civilisations
FLAWED FOUNDING OF THE UNITED STATES
Were the seeds of Civil War already written into the American Constitution?
BRINGING MODERN ART TO THE PEOPLE
The director of Modern Art Oxford, Paul Hobson, tells us about one of the UK's top contemporary art institutions.
THE MINISTRY OF UNGENTLEMANLY WARFARE
Guy Ritchie's entertaining WWII thriller throws light on Operation Postmaster
