Starting to read about the history of finance, and one thing is clear: virtually every feature of finance is very old and every possible phenomenon appeared almost instantly as soon as the context for it existed
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Replying to @jasoncrawford
Corollary: the thing that went unprecedentedly well for humanity starting in the 1700's (as seen in eg human population growth) was *not* the invention of financial markets.
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Replying to @s_r_constantin
Hmm. So to clarify, there *were* innovations in finance. E.g., the first permanent joint-stock company wasn't until 1609 (Dutch East India Co.) So “Financial markets” per se weren't invented around then but the stock market as we know it today basically was.
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