Yhn CultureBooks first seen 9 h ago, last just now, peak #3
Venice's Failed War on Constantinople Created the First Bond Market
Original: Venice’s failed war against Constantinople led to the first bond market
A new excerpt from a history book traces the origins of bond markets to medieval Venice. After war with the Byzantine Empire in Constantinople went badly in the 1170s, the Venetian state was left short of money and forced citizens to make compulsory loans, paying interest on them later. Those forced loans evolved into a tradeable government debt market. Readers online are sharing the story, fascinated that a military defeat helped invent modern public finance.
Why now: A history piece about how military failure accidentally created government debt markets is drawing attention and discussion.
VeniceConstantinopleByzantine EmpireBig Think
Rank over time, top of the chart is #1. 3 snapshots from 18 min ago to just now.
Evidence
- Venice’s failed war against Constantinople led to the first bond market · RickJWagner · 92
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