jan 10, 1609 - The Bank of Amesterdam
Description:
Profoundly important for the economy, the bank of Amsterdam was created when the House of Fugger, a family owned bank that had been surviving off of funding from Charles V, went bankrupt. The trading of stockes replaced the exchange of goods, and JOINT STOCK COMPANIES were formed and used. In joint stock companies, individuals bought shares in a company and received dividends on their investments. These companies were able to minimalize the risk in investing in a company, because you would take less of a loss if they were not successful. GROWTH OF CAPITALISMAdded to timeline:
Date:
jan 10, 1609
Now
~ 417 years ago