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The Origins of Value: The Financial Innovations that Created Modern Capital Markets
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Barnes and Noble
The Origins of Value: The Financial Innovations that Created Modern Capital Markets
Current price: $175.00
Barnes and Noble
The Origins of Value: The Financial Innovations that Created Modern Capital Markets
Current price: $175.00
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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 expertsincluding Robert Shiller, Niall Ferguson, Valerie Hansen, and many othersand wonderfully illustrated with over one hundred color photographs of landmark financial documents (including the first paper money),
traces the evolution of finance through 4,000 years of history. Readers see how and why many of our most important financial tools and institutionsloans, interest rates, stocks, bonds, mutual funds, the corporation, and the New York Stock Exchange, to name a fewcame 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 corporationthe Dutch East India Companyand 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 Reasonan instrument that has been paying interest since the mid-17th century.
Placing our current age of financial revolution in fascinating historical perspective,
tells a remarkable story of invention, illuminating many key episodes in the course of financial history.