Economy refers to the production, distribution, trade, and consumption of goods and services.
Extreme equality and an extreme inequality are both equally as dangerous in a democratic society. In both cases it corrupts the government.
Below we explain how currency gets into circulation via the Treasury, Federal Reserve, and banks, and the role Congress, banks, businesses, and you play in the process.
The word bank is commonly thought to come from the Italian word for Bench “banco”, as the first banks were benches in Italian trading centers.
Modern banking originated in Italy around 1150 as Jews fleeing persecution brought new practices, including “discounting”, to the merchant banks of the Italian piazzas.
We explain the Financial Crisis / Great Recession of 2007 – 2009 that began with the 2006 housing bubble, led to a recession in the U.S. by December 2007, and became a global crisis by 2009.
We examine the historical effects of social, political, and economic inequality on society to see how it has led to social unrest and events like revolutions and populist uprisings.
The rise of piracy and the birth of the public stock market roughly intersect, this is because the first public stocks were essentially a type of insurance against pirates.
In 1602, the Dutch East India Company (VOC) became the first publicly traded company when it sold shares on its own Amsterdam Stock Exchange (the first stock market).