The Speculator and Financial Innovations: An Old Portrait

Daniele D’Alvia ()
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Daniele D’Alvia: Queen Mary University of London

Chapter Chapter 2 in The Speculator of Financial Markets, 2023, pp 21-70 from Palgrave Macmillan

Abstract: Abstract This chapter is devoted to provide an old portrait of the speculator of financial markets starting from a time where financial markets have not yet been in existence. It analyses forms of speculation and financial innovations from primordial conceptions of high finance in Ancient Rome such as voyages by sea and insurance until the charging of interest in a period where usury was condemned as a sin by the Roman Catholic Church. This chapter also takes into account, inter alia, the rise of the first banking institutions such as the Monti di Pieta and the Medici Bank, and the evolution of financial markets since the inception of the first government bonds in Venice and Genoa respectively with the issuance of prestiti and luoghi.

Keywords: Bank; Insurance; Government bonds; Interest rate; Speculation (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-031-47901-4_2

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DOI: 10.1007/978-3-031-47901-4_2

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