Miracle Of Debt Essay

According to “The Miracle of Debt” financing was bound to happen any time soon since Franklin Roosevelt president. Financing techniques and institutions started to appear in the ancient East and the Mediterranean. Within these techniques showing up all over the world an example of an empire being so advance in financing was the Rome empire. According to documents and records the Roman Republic people were very familiar with mortgages, debt instruments, equity, financial courts, and banks. In my opinion the Roman were very intelligent and bright people to able to understand and use financial methods. This is the barely the beginning of the financial institutions and techniques becoming introduce to our world.
Then from the Roman Empire it moved to the Middle ages which were the Italian people. According to documents and records they say that financing became an even bigger in advancement …show more content…
But China wasn’t really getting the idea how financing worked. For example, according to “The Miracle of Debt” china were the ones that invented the paper money. But they failed to develop a government market of credit and modern corporations aka financing methods. By not having no financial methods China was very vulnerable to corruption. By China being so vulnerable to corruption it final caught up to them. China has a lot of private enterprises and monopolies which is not good. This what happen when you don’t have a good financing system implemented.
By reading this article “The miracle of debt” has taught me a lot of things where financing has begun and the methods that have been developed. It all started in the Roman empire then move down to the Italian cities. By moving from empire to empire it developed very good financing methods. Now financing has come a long way and it’s now used all over the world now. In my opinion financing has been good society. It has helped people manage their money smartly and