The Origins of Value: The Financial Innovations that Created Modern Capital Markets
Oxford University Press, 2005 - Всего страниц: 404
From the invention of interest in Mesopotamia and the origin of paper money in China, to the creation of mutual funds, inflation-indexed bonds, and global financial securities, here is a sweeping survey of financial innovations that have changed the world.
Written by a distinguished group of experts--including Robert Shiller, Niall Ferguson, Valerie Hansen, and many others--and wonderfully illustrated with over one hundred color photographs of landmark financial documents (including the first paper money), The Origins of Value traces the
evolution of finance through 4,000 years of history. Readers see how and why many of our most important financial tools and institutions--loans, interest rates, stocks, bonds, mutual funds, the corporation, and the New York Stock Exchange, to name a few--came into being. We see, for instance, how
ancient Rome developed an early form of equity finance that resembles the modern corporation and read about the first modern corporation--the Dutch East India Company--and its innovative means of financing the exploration and expansion of European business ventures around the globe. We also meet
remarkable financial innovators, such as the 13th century Italian Fibonacci of Pisa, whose mathematics of money became the foundation for later developments in the technology of Western European finance (and may explain why the West surpassed the East in financial sophistication). And we even
discover a still-surviving "perpetuity" dating from the Dutch Age of Reason--an instrument that has been paying interest since the mid-17th century.
Placing our current age of financial revolution in fascinating historical perspective, The Origins of Value tells a remarkable story of invention, illuminating many key episodes in the course of financial history.
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The Invention of Interest
The Origins of Paper Money in China
Paying in Paper
From Tallies and Chirographs to Franklins Printing Press at Passy
Bonds and Government Debt in Italian CityStates 12501650
Venture Shares of the Dutch East India Company
The Invention of InflationIndexed Bonds in Early America
Transatlantic Paper and the Emergence of the American Capital Market
The Origins of the New York Stock Exchange
The First Eurobonds
German Debt in the Twentieth Century
King Leopolds Bonds
Abir American Amsterdam annuity Bank bankers bills of exchange bonds borrowed brokers bronze coin Buttonwood Agreement CANAL MARITIME cash century certificate China Chinese chirograph circulation Congress Continental continental currency contracts creditors debt document Dutch dynasty early economic Eendragt example Fibonacci financial instruments foreign forward contracts France French gap in text Genoa German guilders Holland huizi inflation-indexed bonds Insurance interest rate investment investors issued jiaozi Leonardo Liber Abaci livres Lizhou loans MARITIME DE SUEZ mathematical ment merchants million Mississippi Company modern monetary month Morris notes obligations official paid paper currency paper money pawnshop payments payout percent period printed problem publicani purchase qianyin Redeemed reparations Rothschilds rubber securities shares Sichuan silk Silk Road silver societas Sogdian Song Song dynasty speculation tally tally sticks tion tontine trade transactions transfer Turfan United Venice vouchers York