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Considering that ship loans were known already to the Greeks, that assertion is wrong. They were a feature of the antique world, and the fact that Mohammed decl
by HarryHirsch 4y ago
Considering that ship loans were known already to the Greeks, that assertion is wrong. They were a feature of the antique world, and the fact that Mohammed declared them an abomination would indicate that they worked rather too well.
- JackFr 4y agoAnd there was a recorded instance of futures selling in olive oil in Ancient Greece. But to the GPs point, while there were contracts, there were no tradeable claims, no capital markets and no professional management separate from the ownership, all of which we associate with the early British and Dutch trading companies and eventually railroads and industrial concerns.