A financial history of the world

A financial history of the world

Introduction

Key role for finance in the modern global economy can be understood by some persons. In 2006, global GDP was 47 trillion U.S. dollars while the total market capitalization of stocks in the world is 51 trillion U.S. dollars, which the domestic and international bonds was 68 trillion U.S. dollars and that of derivatives, $ 473,000,000,000,000. The daily volume of forex trading is about $ 2000000000000, while the monthly volume of trading on the world stock market is $ 7 trillionth The financial sector was contributing 7.7% of U.S. GDP by 2005.

This fascinating book is about how finances are developed in the last 4000 years. Despite the current hostility of the finance world is facing, the money remaining in the root of most progress. Financial innovation plays an important role in the material prosperity of mankind. The ancient Babylonian civilization, the Italian Renaissance, Dutch and British empires and the U.S. all rose to the top, thanks to financial innovation. The defeat of Napoleon at Waterloo was at least partly due to the financial acumen of Nathan Rothschild, who worked on the side of the British.