Barings Bank was a survivor. Founded in 1762 during the reign of George III, it endured through seven more kings and queens, two world wars, the Great Depression, and countless geopolitical upheavals. […]
How Did Scotland’s Imperial Plans Destroy Its Independence?
In 1314, King Robert the Bruce led Scotland to a heroic victory over the English at the Battle of Bannockburn. The unlikely trouncing of one of the world’s mightiest armies boldly proclaimed […]
That Time a Drunk Trader Played Havoc With the Oil Futures Market
It was 7:45 a.m. on June 30, 2009. Stephen Perkins had a hangover. All he wanted to do was go back to sleep. Actually, he wished desperately that he was sleeping — […]
Who Was the Richest Person in History?
When you think of countries with vast wealth and power, there’s a good chance Mali is not on that list. The United Nations ranks Mali 121st out of 213 on its list […]
How a Bad Musical (Plus a Whole Bunch of Really Bad Ideas) Bankrupted the World’s Wealthiest Country
Whenever the elements of government corruption, shady characters, monumental stupidity, mind-numbing monetary mismanagement, and poop all come together, it’s a safe bet that it is a story that will make it into […]
Would You Sign Away Your Eternal Soul for a Loan?
Imagine the scene: a man is in desperate need for money, but he can’t find anyone to help him. Just as he is about to give up hope, one benefactor steps forward. […]
The Entrepreneur Who Took a Big Gamble
Fred was desperate. His business was on its last legs. Given its inadvisable start, that shouldn’t have surprised anyone. What was surprising was that he didn’t just give up. The experts had […]
The First Market Bubble: Tulip Mania of the 17th Century
Long before the Dot-Com Bubble of the closing years of the 20th century, the world experienced another period of wild economic speculation. It took place in Europe in the 17th century. The […]
Understanding Economics: No Bull About It
Popular advice columnist Abigail VanBuren once published a helpful guide to understanding the difference between the various economic systems: Communism: You have two cows. The government takes both of them and gives […]
The Economics of Heaven and Hell
President Ronald Reagan left no doubt about his thoughts on socialism. He said, “Socialism only works in two places: Heaven where they don’t need it and hell where they already have it.”
The Rising Costs of Partridges in Pear Trees
If you want to bless your true love during the 12 days of Christmas next year, you may want to save up your pennies, starting now. According to the latest study, the […]
National policy and the global economy often hinge upon the statements of the President of the United States. Despite that incredible power and responsibility, some presidential utterances fail to inspire or motivate: […]