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Financial Crisis Of 33
A financial and economic crisis occurred in 33 AD in the Roman Empire, during the reign of Emperor Tiberius. After a shift in government policy and a series of confiscations reduced the Roman money supply, the crisis was triggered by the invocation of an old law which resulted in the early recalls of loans given, a credit crunch, and a crash of real estate prices. The crisis was eventually resolved with a liquidity injection in form of interest-free loans. Historical background According to Tacitus's ''Annals'', Julius Caesar had passed a law in 49 BCE which regulated usury, requiring lenders to possess a certain quantity of farmland in Italy. The law had been passed as a wartime measure to prevent capital flight from Italy, but it had been largely ignored. During the early reign of Augustus, the Roman government significantly expanded the money supply through cash handouts, extensive public works projects, and acquisition of Italian agricultural land for veterans to settle (these ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Denarius Of Tiberius (YORYM 2000 1953) Obverse
The ''denarius'' (; : ''dēnāriī'', ) was the standard Roman silver coin from its introduction in the Second Punic War to the reign of Gordian III (AD 238–244), when it was gradually replaced by the ''antoninianus''. It continued to be minted in very small quantities, likely for ceremonial purposes, until and through the Tetrarchy (293–313). The word ''dēnārius'' is derived from the Latin ''dēnī'' "containing ten", as its value was originally of 10 '' assēs''.Its value was increased to 16 assēs in the middle of the 2nd century BC. The word for "money" descends from it in Italian (''denaro''), Slovene (''denar''), Portuguese (''dinheiro''), and Spanish (''dinero''). Its name also survives in the dinar currency. Its symbol is represented in Unicode as 𐆖 (U+10196), a numeral monogram that appeared on the obverse in the Republican period, denoting the 10 ''asses'' ("X") to 1 ''denarius'' ("I") conversion rate. However it can also be represented as X̶ (capital lett ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvard University
Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts, United States. Founded in 1636 and named for its first benefactor, the History of the Puritans in North America, Puritan clergyman John Harvard (clergyman), John Harvard, it is the oldest institution of higher learning in the United States. Its influence, wealth, and rankings have made it one of the most prestigious universities in the world. Harvard was founded and authorized by the Massachusetts General Court, the governing legislature of Colonial history of the United States, colonial-era Massachusetts Bay Colony. While never formally affiliated with any Religious denomination, denomination, Harvard trained Congregationalism in the United States, Congregational clergy until its curriculum and student body were gradually secularized in the 18th century. By the 19th century, Harvard emerged as the most prominent academic and cultural institution among the Boston B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Black Monday (1987)
Black Monday (also known as Black Tuesday in some parts of the world due to time zone differences) was a global, severe and largely unexpected stock market crash on Monday, October 19, 1987. Worldwide losses were estimated at US$1.71 trillion. The severity sparked fears of extended economic instability or a reprise of the Great Depression. Possible explanations for the initial fall in stock prices include a fear that stocks were significantly overvalued and were certain to undergo a correction, persistent US trade and budget deficits, and rising interest rates. Another explanation for Black Monday comes from the decline of the dollar, followed by a lack of faith in governmental attempts to stop that decline. In February 1987, leading industrial countries had signed the Louvre Accord, hoping that monetary policy coordination would stabilize international money markets, but doubts about the viability of the accord created a crisis of confidence. The fall may have been acceler ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1973 Oil Crisis
In October 1973, the Organization of Arab Petroleum Exporting Countries (OAPEC) announced that it was implementing a total oil embargo against countries that had supported Israel at any point during the 1973 Yom Kippur War, which began after Egypt and Syria launched a large-scale surprise attack in an ultimately unsuccessful attempt to recover the territories that they had lost to Israel during the 1967 Six-Day War. In an effort that was led by Faisal of Saudi Arabia, the initial countries that OAPEC targeted were Canada, Japan, the Netherlands, the United Kingdom, and the United States. This list was later expanded to include Estado Novo (Portugal), Portugal, Rhodesia, and South Africa. In March 1974, OAPEC lifted the embargo, but the price of oil had risen by nearly 300%: from US to nearly US globally. Prices in the United States were significantly higher than the global average. After it was implemented, the embargo caused an oil crisis, or "shock", with many short- and long ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Guardian
''The Guardian'' is a British daily newspaper. It was founded in Manchester in 1821 as ''The Manchester Guardian'' and changed its name in 1959, followed by a move to London. Along with its sister paper, ''The Guardian Weekly'', ''The Guardian'' is part of the Guardian Media Group, owned by the Scott Trust Limited. The trust was created in 1936 to "secure the financial and editorial independence of ''The Guardian'' in perpetuity and to safeguard the journalistic freedom and liberal values of ''The Guardian'' free from commercial or political interference". The trust was converted into a limited company in 2008, with a constitution written so as to maintain for ''The Guardian'' the same protections as were built into the structure of the Scott Trust by its creators. Profits are reinvested in its journalism rather than distributed to owners or shareholders. It is considered a newspaper of record in the UK. The editor-in-chief Katharine Viner succeeded Alan Rusbridger in 2015. S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Crawford (historian)
Michael Hewson Crawford (born 7 December 1939) is a British ancient historian and numismatist. Having taught at Christ's College, Cambridge and the University of Cambridge, he was Professor of Ancient History at University College London from 1986 until he retired in 2005. Early life Crawford was born in Twickenham on 7 December 1939. He was educated at St Paul's School, Oriel College, Oxford (BA, MA), and the British School at Rome. Academic career In 1964, Crawford was elected a research fellow of Christ's College, Cambridge. From 1969 until 1986 he was Fellow of Christ's College, Cambridge, and University Lecturer in Ancient History in the University of Cambridge. He was Professor of Ancient History at University College London from 1986 until 2005, becoming emeritus professor on his retirement. He continued to undertake some teaching in the Department of History and works on Projet Volterra. In 1964/65, Crawford was Eliza Procter Visiting Fellow at Princeton Universi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keynesian Economics
Keynesian economics ( ; sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomics, macroeconomic theories and Economic model, models of how aggregate demand (total spending in the economy) strongly influences Output (economics), economic output and inflation. In the Keynesian view, aggregate demand does not necessarily equal the aggregate supply, productive capacity of the economy. It is influenced by a host of factors that sometimes behave erratically and impact production, employment, and inflation. Keynesian economists generally argue that aggregate demand is volatile and unstable and that, consequently, a market economy often experiences inefficient macroeconomic outcomes, including economic recession, recessions when demand is too low and inflation when demand is too high. Further, they argue that these economic fluctuations can be mitigated by economic policy responses coordinated between a government and their central bank. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States, the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered the beginning of the Depression. Among the countries with the most unemployed were the U.S., the United Kingdom, and Weimar Republic, Germany. The Depression was preceded by a period of industrial growth and social development known as the "Roaring Twenties". Much of the profit generated by the boom was invested in speculation, such as on the stock market, contributing to growing Wealth inequality in the United States, wealth inequality. Banks were subject to laissez-faire, minimal regulation, resulting in loose lending and wides ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Journal Of Economic History
''The Journal of Economic History'' is an academic journal of economic history which has been published since 1941. Many of its articles are quantitative, often following the formal approaches that have been called '' cliometrics'' or the '' new economic history'' to make statistical estimates. The journal is published on behalf of the Economic History Association by Cambridge University Press. Its editors are Ann Carlos at the University of Colorado and William Collins at Vanderbilt University. It is considered one of the best economic history journals along with the European Review of Economic History, Explorations in Economic History and the Economic History Review. Its 2016 impact factor The impact factor (IF) or journal impact factor (JIF) of an academic journal is a type of journal ranking. Journals with higher impact factor values are considered more prestigious or important within their field. The Impact Factor of a journa ... is 1.101. References Externa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tenney Frank
Tenney Frank (May 19, 1876 – April 3, 1939) was a prominent American ancient historian and classical scholar. He studied many aspects of Ancient Rome, for instance its economy, imperialism, demographics and epigraphy. Biography Tenney Frank earned his A.B. at the University of Kansas in 1898 and his A.M. the following year. Frank went on to receive his Ph.D. at the University of Chicago in 1903. Frank taught at Bryn Mawr College as a Professor of Latin from 1904 until 1919, when he moved to the Johns Hopkins University. At Bryn Mawr Frank wrote and published his influential study ''Roman Imperialism'' in 1914. Frank believed that Rome's imperialism stemmed from a desire to keep peace in the Mediterranean world by preventing the rise of any rival power. Frank's other work focused on classical literature, with articles on Cicero, Strabo, Curiatius Maternus, Plautus, and Virgil, among others. In 1932 he gave the British Academy's Master-Mind Lecture, on Cicero. He wrote period ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cassius Dio
Lucius Cassius Dio (), also known as Dio Cassius ( ), was a Roman historian and senator of maternal Greek origin. He published 80 volumes of the history of ancient Rome, beginning with the arrival of Aeneas in Italy. The volumes documented the subsequent founding of Rome (753 BC), the formation of the Republic (509 BC), and the creation of the Empire (27 BC) up until 229 AD, during the reign of Severus Alexander. Written in Koine Greek over 22 years, Dio's work covers approximately 1,000 years of history. Many of his books have survived intact, alongside summaries edited by later authors such as Xiphilinus, a Byzantine monk of the 11th century, and Zonaras, a Byzantine chronicler of the 12th century. Biography Lucius Cassius Dio was the son of Cassius Apronianus, a Roman senator and member of the Cassia gens, who was born and raised at Nicaea in Bithynia. Byzantine tradition maintains that Dio's mother was the daughter or sister of the Greek orator and philosopher, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
