Banking and Finance
After the Second World War the victorious Americans did something utterly unique in world history. They launched a massively generous global campaign to help the previously embattled and badly damaged nations of the world to rebuild themselves. In Europe the campaign was referred to as the Marshall Plan. All the war-torn nations of Europe gladly … Read more
The Pro-log – The Banking Panic of 1907: The Bank Panic of 1907 was a short-lived banking and financial crisis in New York City and along the US Eastern seaboard. It occurred during the rising tide of progressivism, at the beginning of the twentieth century. The banking panic resulted from the collapse of highly-leveraged speculative … Read more
China’s Long and Noble History China has been the central power of Asia, the center of Asian culture and the source of the progress of Asian civilization for the last 4000 years. China is and has been the “central kingdom” and as such has considered itself the natural “ruler of all under heaven.” The continuity … Read more
In 1916 Vladimir Lenin wrote his book Imperialism, the Highest Stage of Capitalism. In that book he asserts that successful and competitive capitalist enterprises work hard to become monopolies in their market areas. They each want to be the last man standing in their sector of the market. Of course, Lenin wrote that book as … Read more
In ancient Israel the sabbatical year (ever 7th year) was not only a year of allowing fields to be left fallow, it was also a year of debt forgiveness(Deuteronomy 15:1-2). In China the ancient tradition of repaying debts before the Chinese New Year stems from the belief that starting the new year free of financial … Read more
The most core and basic of all human nature is self-interest. This is the nature we are all born with. Every baby cries to be fed or changed. One of the first words we all learn as infants is “MINE!” On the other hand, sharing is an unnatural, taught behavior. Teaching a youngster to share … Read more
John Maynard Keynes was born in Cambridge, England in 1883, to a privileged elitist academic family. Keynes became an influential economist and he is best known for his economic theories on the causes of prolonged unemployment, and for his most influential work, The General Theory of Employment, Interest and Money, which was first published in … Read more
Walter Bagehot was a mid-Victorian era journalist in Britain who married the eldest daughter of James Wilson, the founder of The Economist magazine. When Mr. Wilson died in 1860, Walter became the editor in chief of The Economist. Over the next 17 years that he held that position, he transformed the journal into one of … Read more
During the 18th century, the higher efficiency of the nascent factory system made the previously revolutionary cottage industry production system less efficient and therefore newly uncompetitive. As a result the cottage industry system lost its commercial viability and gradually began to fail economically. The combination of the decline of cottage industries and the rise of … Read more
A Christian world view is a “God’s eye” view of the world. Creation is both visible (the physical world) and invisible (the metaphysical, “spiritual” world). Ancient Christianity understands that the visible and invisible worlds are coexistent, transcendent and indistinguishable.
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