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For a huge (huge!) fictionalized (but very entertaining) account of the invention of money & modern markets, read the Baroque Cycle by Neal Stephenson.
by cstuder 7y ago
For a huge (huge!) fictionalized (but very entertaining) account of the invention of money & modern markets, read the Baroque Cycle by Neal Stephenson.
- arethuza 7y agoDoesn't the Baroque Cycle have two approaches to banking in England - the Whig Bank of England and the competing Tory Land Bank (which used land rather than gold as the underlying asset)?
- pjc50 7y agoI thought (via "Extraordinary Popular Delusions and the Madness of Crowds") that it was actually tied into the South Sea Bubble, and that the Bank's role was that of a central bank in a crisis: provision of unlimited liquidity, regardless of whether or not it's "backed" by anything.