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Category Archives: Stories

Historic facts about world economy

Silk Road Trade History: How Ancient Routes Shaped Economies

The Silk Road wasn’t just about silk. It carried spices, glass, gold, and ideas—transforming economies from China to Rome. Some historians call it the world’s first ‘globalized’ trade network.

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Tulip Mania: First Economic Bubble in Netherlands History

Tulip Mania in 17th-century Netherlands is often seen as the first economic bubble. At its height, some tulip bulbs sold for more than a house. The crash left many bankrupt.

Posted in Stories | Tagged Dutch economy, Holland economy, Netherlands economy

Bretton Woods 1944: IMF, World Bank and U.S. Dollar Dominance

In 1944, the Bretton Woods Conference created the IMF and World Bank. It also pegged global currencies to the U.S. dollar, cementing America’s financial dominance after WWII.

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Industrial Revolution in Britain: 1800s Global Workshop

In the 1800s, Britain’s Industrial Revolution made it the ‘workshop of the world.’ By 1850, it produced more iron than the rest of the world combined.

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Creation of the Federal Reserve: 1913 U.S. Banking Reform

The U.S. Federal Reserve was created in 1913 after repeated banking crises. Its main goal: stabilize the economy and prevent panics that had plagued the 19th century.

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Commodity Money History: Salt, Cacao and Roman Soldiers’ Pay

Before coins or paper, ancient societies used ‘commodity money’ like salt, cattle, or even cacao beans. The word ‘salary’ comes from ‘salarium’—Roman soldiers being paid in salt.

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Great Fire of London 1666: Origins of Modern Insurance

During the Great Fire of London in 1666, most people didn’t have insurance. The devastation inspired the creation of the first modern fire insurance companies.

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Amsterdam Stock Exchange 1602: Birth of Capitalism

The world’s first stock exchange opened in Amsterdam in 1602. Investors gathered to trade shares of the Dutch East India Company—creating modern capitalism.

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OPEC Oil Embargo 1970s: Stagflation and Energy Politics

In the 1970s, OPEC’s oil embargo quadrupled oil prices, triggering stagflation in the West—high inflation + high unemployment. It reshaped global energy politics forever.

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Roman Empire Economy: Trade Routes from Britain to India

The Roman Empire’s economy thrived on trade routes that stretched from Britain to India. Roman coins have been found in Japan, proof of how far their money traveled.

Posted in Stories

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