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The Invention of Money
“Money is not the value for which goods are exchanged, but the value by which they are exchanged.”
John Law
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222 READS
SIMILAR ARTICLES & IDEAS:
10
Key Ideas
Hill was a charlatan
Napoleon Hill was said to be an advisor to two presidents: Woodrow Wilson and Franklin Delano Roosevelt.
In fact, there’s no evidence whatsoever outside of Hill’s own writings that Hill ...
Hill and Carnegie
Napoleon Hill’s most infamous claim was that he met and interviewed at length the industrialist Andrew Carnegie in 1908.
Andrew Carnegie's biographer David Nasaw found no evidence of any sort that Carnegie and Hill ever met.
Serial swindler
Napoleon Hill tried his hand at a number of businesses. But at every turn, there was some kind of shady dealing that would cause his business ventures to crumble.
Promoters of Hill claim that it was all a matter of bad luck, and Hill's naivety. However, there are only so many times that a man can be arrested for the sale of unlicensed stock, altering checks, and outright theft, before you have to question the official history.
Historical Significance Of Florence, Italy
Known as the ‘Jewel Of Italian Renaissance’, the city of Florence has countless groundbreaking developments, seeing advances in politics, finance, business, engineering, philosophy, science, archit...
The Story Of Florence: The Renaissance City
Now a fashion city, Florence was initially well-known for woollen cloth, creating a central marketplace for the best-quality wool, cleaned to perfection.
The success of the fabric business made the Florentines rich, leading to new financial breakthroughs and innovations, like bank loan facilities, which further enhanced the city’s wealth.
Wealthiest City In Europe
Innovative banking practices like bills of exchange (to facilitate-out-of-city payments) and double-entry bookkeeping, along with the flourishing cloth industry made Florence the wealthiest city in Europe.
The city, flush with wealth, started to focus on art, humanism, creation, enjoyment of life’s pleasures, and intellectual pursuits. It framed itself as ‘The New Rome’ and was a true Renaissance city due to it’s elevated and classist thinking that offered freedom, prosperity and knowledge.
9
Key Ideas
The Great Depression
.. was a devastating economic collapse which started in the US in 1929, lasting a decade. Europe was already struggling post the WWI recession, while the US was thriving. As borrowings and stoc...
Wall Street Down
On 29th October 1929, the infamous crash of Wall Street happened, where 30 million dollars were lost in a week, leading to customers rushing to withdraw their money, known as the ‘bank run’.
The entire world felt the capitalistic fall and realized that a boom leads to a bust, eventually. The disastrous effects felt around the world showed how economically interconnected the world had become.
A New Deal
In 1933, then-President Franklin Roosevelt promoted his recovery path of Relief, Recovery and Reform, to give shape to the slow and arduous reform process that will take decades.