Word: rouwenhorst
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That is just one of the stories colorfully told and illustrated in The Origins of Value (Oxford), edited by William N. Goetzmann and K. Geert Rouwenhorst. The two economic historians turn what could have been a bone-dry survey of arcane financial instruments into a lively history of finance. Even more improbably, the book is gorgeous. You can see the crimson illumination on the Ligatio pecuniae and read the fine print on a futures contract from the Dutch West India Co. Each chapter is a minihistory written by stars like Niall Ferguson and Robert Shiller, who explain in rich prose...