- Ever since the financial crisis of 2007-8, finance has never been far from the front pages, but this is not new - we can find a credit crunch, sovereign default and rate rigging in medieval Europe.Just like current investment bankers, medieval merchants were engaged in financial engineering, risky lending to governments and manipulation of exchange rates. Adrian's lecture explored how medieval financial innovations have many parallels with recent events...
- Here's the video trailer...
- On with the lecture...
Tonight's lecture will be given by Prof Adrian Bell from the University's @icmacentre ...30mins to go! http://www.icmacentre.ac.uk/person/professor-adrian-bell …e.UoRLecturesn/professor-adrian-bell #UoRLectures- Adrian is a medieval historian working in a business school+has created a model to pinpoint when to sack football managers! #UoRLectures
- On to the lecture... Online polls and audience participation coming up to demonstrate a medieval financial exchange...! #UoRLectures
- Prof Adrian Bell: we teach our finance students ethics and history, and they get experience in a real life dealing room #UoRLectures
In the @icmacentre we put finance into context using history... #UoRLectures pic.twitter.com/BLZQn4IVom/BLZQn4IV- Money exists in 3 dimensions...time is involved when thinking about its value - £1 today isn't worth the same as £1 next week #UoRLectures
What is finance? It is how money moves around society! Credit = the idea of money #UoRLectures pic.twitter.com/nvOlzZk6om/nvOlzZk6
Financial regulation was much better in the Middle Ages as if you broke the rules you went to hell... #UoRLectures pic.twitter.com/r8fKdTAcom/r8fKdTAc- Wool was big in the Middle Ages - Adrian has found evidence of forward contracts between Italy and English monasteries #UoRLectures
All these bankers leant money to the English king (mainly during periods of war) but all went bankrupt #UoRLectures pic.twitter.com/GZU82nXyom/GZU82nXy
During 1272 - 1345 the peak time when the English Kings borrowed money was during war time #UoRLectures- You can work out medieval interest rates using this tool developed by Adrian and his team - http://bit.ly/WJ0QRc #UoRLectures
- Here's the link for Adrian's medieval interest rate tool...
- ICMA Centre Reading UK | Business School | Finance Degrees | Executive Education | ConsultancyThe ICMA Centre is a specialised business school offering specialised applied undergraduate and postgraduate degrees in finance. It also ...
Historians and Economists can't work out interest rates so work out & use profit rates instead #badmaths #UoRLectures pic.twitter.com/udhDGyizom/udhDGyiz- Credit crunches: 1294 -England went to war with Wales, Scotland + France -Edward I needed money, but there wasn't any to lend #UoRLectures
Here's what the bankers said... #UoRLectures pic.twitter.com/TvzWT4bWom/TvzWT4bW
Sovereign defaults: the Peruzzi lent money they didn't have to Edward III...much like today! #UoRLectures pic.twitter.com/2MM2VcPgom/2MM2VcPg
Medieval foreign exchange -bills of exchange explained via audience participation (too long for140chs!) #UoRLectures pic.twitter.com/ubcJrNhwom/ubcJrNhw
This reenactment is hurting my head. It really is confusing! #UoRLectures @UniofReading- @Becca_Lam Ours too! It's even harder to fit into 140 characters! #UoRLectures
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