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Financial Revolution
The Financial Revolution was a set of economic and financial reforms in Britain after the Glorious Revolution in 1688 when William III invaded England. The reforms were based in part on Dutch economic and financial innovations that were brought to England by William III. New institutions were created: a public debt (first government bonds were issued in 1693) and the Bank of England (1694). Soon thereafter, English joint-stock companies began going public. A central aspect of the financial revolution was the emergence of a stock market. The elements of the financial revolution rested basically on the financial techniques developed in the Netherlands: the bill of exchange, both foreign and inland, which as a negotiable instrument became part of the medium of exchange; transferable shares in the permanent capital stock of corporations that were traded in an active secondary market; and perpetual, government-issued annuities (known as Consols). Another piece of Financial Revol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Civil List
A civil list is a list of individuals to whom money is paid by the government, typically for service to the state or as honorary pensions. It is a term especially associated with the United Kingdom and its former colonies of Canada, India, New Zealand, Singapore and many more. It was originally defined as expenses supporting the monarch. United Kingdom In the United Kingdom, the Civil List was, until 2011, the annual grant that covered some expenses associated with the Sovereign performing their official duties, including those for staff salaries, state visits, public engagements, ceremonial functions and the upkeep of the Royal Households. The cost of transport and security for the Royal Family, together with property maintenance and other sundry expenses, were covered by separate grants from individual government departments. The Civil List was abolished under the Sovereign Grant Act 2011. History Following the Glorious Revolution of 1688, the expenses relating to the support of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Markets
A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets as commodities. The term "market" is sometimes used for what are more strictly ''exchanges'', organizations that facilitate the trade in financial securities, e.g., a stock exchange or commodity exchange. This may be a physical location (such as the New York Stock Exchange (NYSE), London Stock Exchange (LSE), JSE Limited (JSE), Bombay Stock Exchange (BSE) or an electronic system such as NASDAQ. Much trading of stocks takes place on an exchange; still, corporate actions (merger, spinoff) are outside an exchange, while any two companies or people, for whatever reason, may agree to sell the stock from the one to the other without using an exchange. Trading of currencies and bonds is largely on a bilateral basis, although some bonds trade o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of The United Kingdom
The economic history of the United Kingdom relates the economic development in the British state from the absorption of Wales into the Kingdom of England after 1535 to the modern United Kingdom of Great Britain and Northern Ireland of the early 21st century. Scotland, England, and Wales shared a monarch from 1601 but their economies were run separately until they were unified in the 1707 Act of Union. Ireland was incorporated in the United Kingdom economy between 1800 and 1922; from 1922 the Irish Free State (the modern Republic of Ireland) became independent and set its own economic policy. Great Britain, and England in particular, became one of the most prosperous economic regions in the world between the late 1600s and early 1800s as a result of being the birthplace of the industrial revolution that began in the mid-eighteenth century. The developments brought by industrialization resulted in Britain becoming the premier European and global economic, political, and military ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1690s In England
Year 169 ( CLXIX) was a common year starting on Saturday (link will display the full calendar) of the Julian calendar. At the time, it was known as the Year of the Consulship of Senecio and Apollinaris (or, less frequently, year 922 ''Ab urbe condita''). The denomination 169 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. Events By place Roman Empire * Marcomannic Wars: Germanic tribes invade the frontiers of the Roman Empire, specifically the provinces of Raetia and Moesia. * Northern African Moors invade what is now Spain. * Marcus Aurelius becomes sole Roman Emperor upon the death of Lucius Verus. * Marcus Aurelius forces his daughter Lucilla into marriage with Claudius Pompeianus. * Galen moves back to Rome for good. China * Confucian scholars who had denounced the court eunuchs are arrested, killed or banished from the capital of Luoyang and official life duri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Revolution
The Market Revolution in 19th century United States is a historical model which argues that there was a drastic change of the economy that disoriented and coordinated all aspects of the market economy in line with both nations and the world. Charles Grier Sellers (1927–2021), a leading historian of the Market Revolution, portrayed it as a highly negative development that marked the triumph of capitalism over democracy. He argued that this was one of the most significant transformations of America within the first half of the nineteenth century—indeed, the defining event of world history—the evolution from an agrarian to a capitalist society. Sellers observed: While dissolving deeply rooted patterns of behavior and belief for competitive effort, it mobilized collective resources through government to fuel growth in countless ways, not least by providing the essential legal, financial, and transport infrastructures. Establishing capitalist hegemony over economy, politics ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Military Revolution
The Military Revolution is the theory that a series of radical changes in military strategy and tactics during the 16th and 17th centuries resulted in major lasting changes in governments and society. The theory was introduced by Michael Roberts in the 1950s as he focused on Sweden (1560–1660) searching for major changes in the European way of war caused by the introduction of portable firearms. Roberts linked military technology with larger historical consequences, arguing that innovations in tactics, drill and doctrine by the Dutch and Swedes (1560–1660), which maximized the utility of firearms, led to a need for more trained troops and thus for permanent forces ( standing armies). Armies grew much larger and more expensive. These changes in turn had major political consequences in the level of administrative support and the supply of money, men and provisions, producing new financial demands and the creation of new governmental institutions. "Thus, argued Roberts, the modern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Stasavage
David Stasavage is an American political scientist. Stasavage attended a bachelor's degree at Cornell University in 1989, then obtained his doctorate from Harvard University in 1995. He subsequently went to Europe, working successively for the World Bank, the Organisation for Economic Co-operation and Development, the Centre for the Study of African Economies, and the Bank of England. Stasavage began teaching as a faculty associate within the London School of Economics in 1999. By 2005, his final year at the LSE, Stasavage had acquired the rank of reader. Stasavage returned to the United States in 2006, as an associate professor at New York University. In 2009, Stasavage was appointed to a full professorship. Since 2015, he has served as Julius Silver Professor of Politics. Stasavage was later appointed dean for the social sciences. In 2015, he was elected a member of the American Academy of Arts and Sciences The American Academy of Arts and Sciences (abbreviation: AAA&S) is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Douglass North
Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his work in economic history. He was the co-recipient (with Robert William Fogel) of the 1993 Nobel Memorial Prize in Economic Sciences. In the words of the Nobel Committee, North and Fogel "renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change." Biography Douglass North was born in Cambridge, Massachusetts, on November 5, 1920. He moved several times as a child due to his father's work at MetLife. The family lived in Ottawa, Lausanne, New York City, and Wallingford, Connecticut. North was educated at Ashbury College in Ottawa, Ontario and the Choate School in Wallingford, Connecticut. He was accepted at Harvard at the same time that his father became the head of MetLife on the west coast, so North opted to go to University of California, Berkeley. During his time at Berkeley, North was a memb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consol (bond)
Consols (originally short for consolidated annuities, but subsequently taken to mean consolidated stock) were government debt issues in the form of perpetual bonds, redeemable at the option of the government. They were issued by the Bank of England and the U.S. Government. The first British consols were issued in 1751. They have now been fully redeemed. The United States government issued consols from 1877 to 1930, which have likewise been redeemed. History In 1752 the Chancellor of the Exchequer and Prime Minister Sir Henry Pelham converted all outstanding issues of redeemable government stock into one bond, Consolidated 3.5% Annuities, in order to reduce the coupon (interest rate) paid on the government debt. In 1757, the annual interest rate on the stock was reduced to 3%, leaving the stock as consolidated 3% annuities. The coupon rate remained at 3% until 1888. In 1888, the Chancellor of the Exchequer, George Joachim Goschen, converted the consolidated 3% annuities, along wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Market
A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms. Investment is usually made with an investment strategy in mind. Size of the market The total market capitalization of all publicly traded securities worldwide rose from US$2.5 trillion in 1980 to US$93.7 trillion at the end of 2020. , there are 60 stock exchanges in the world. Of these, there are 16 exchanges with a market capitalization of $1 trillion or more, and they account for 87% of global market capitalization. Apart from the Australian Securities Exchange, these 16 exchanges are all in North America, Europe, or Asia. By country, the largest stock markets as of January 2022 are in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
