economics

The Invention of Financial Politics by Jean-Baptiste Colbert

The Invention of Financial Politics by Jean-Baptiste Colbert

Jean-Baptiste Colbert (1619-1683)Portrait by Philippe de Champaigne, 1655 On August 29, 1619, Jean-Baptiste Colbert, who served as Minister of Finances under the rule of Louis XIV., was born. Colbert’s innovative financial politics was one of the basic pillars of French absolutism and was about to change the world into a modern economy. Jean-Baptiste Colbert basically did not have any other chance than going into finances. His father and grandfather were…
Eureka! – California and the 1848 Gold Rush

Eureka! – California and the 1848 Gold Rush

Seeking gold in the California riverSource: Harper’s Weekly magazine On August 19, 1848, the the New York Herald, a major newspaper of the American East Coast printed the exciting news that gold has been found on the West Coast, which caused thousands of immigrants from all over the world to travel to California hoping to to find wealth and glory. The story began some months earlier, in January 1848. James…
Charles Dow and his Stock Index

Charles Dow and his Stock Index

On July 3 1884 Charles Henry Dow together with his colleague Edward Jones composed and published an stock average – called the Dow Jones Railroad Average -, which contained nine railroads and two industrial companies. He developed the stock index as part of his market research and it was meant to serve as a reference value to determine fluctuations of the stock market. It first appeared in the Customer’s Afternoon Letter,…
The Yes Men Fix the World

The Yes Men Fix the World

The Yes Men and the Haliburton SurvivaBall – Photo via Yes Men @ SurvivaNet. Jacques Servin and Igor Vamos form the culture jamming duo The Yes Men. Through their actions, they try to raise awareness about problematic social issues, in their sense. In order to do this, The Yes Men impersonate people of high economical or political influence to expose lies and injustices. They maintain fake websites to raise attention, which…
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