by @Macro_Tourist

Interest rates since 3000 B.C.

  • credit crisis of 33 A.D.
  • code of Justinian
  • Uruk, “city of sheepfolds”, had a writing system, counting system, and calendar system
  • 16% rates in Athens 600 B.C.
  • Solon’s reforms 594 B.C.
  • early interest rates just used 1 unit of money per unit of stuff per unit of time; no decimalised share prices in the Code of Hammurabi (1772 B.C.)
  • Temples as proto-banks

With regards to big data, just think how much work @Macro_Tourist (and Sidney Homer) had to do to put these graphs together versus recording some twitter history or server logs. Talk about wealth of information versus interesting information.

Closer zoom:




Sidney Homer: “Each generation is inevitably surprised by interest rates”


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