[current_date format=l,] [current_date]

History of the Stock Market

How the riskiest yet most profitable venture in human history started. Stock exchange dates as far back as the ancient Roman empire. The Roman state issued many of its services to private companies known as the publicani, publicanorium or societas. These contractors, much like the modern joint-stock companies, issued shares known as partes for large cooperatives and particulaes for smaller shares. Roman historian, Polybius, notes that “almost every citizen” participated in these government leases. Cicero also opined that those shares had an extremely high price then and is evidence that the stock exchange was subject to price fluctuations. Year 1250, France: 100 shares of the societes des Moulins du Bazacle or the Bazacle Milling Company, traded at a value equivalent to the profitability of each mill. In 1288, Stora,

How the riskiest yet most profitable venture in human history started.

Stock exchange dates as far back as the ancient Roman empire. The Roman state issued many of its services to private companies known as the publicani, publicanorium or societas. These contractors, much like the modern joint-stock companies, issued shares known as partes for large cooperatives and particulaes for smaller shares. Roman historian, Polybius, notes that “almost every citizen” participated in these government leases. Cicero also opined that those shares had an extremely high price then and is evidence that the stock exchange was subject to price fluctuations.

Year 1250, France: 100 shares of the societes des Moulins du Bazacle or the Bazacle Milling Company, traded at a value equivalent to the profitability of each mill. In 1288, Stora, the Swedish mining and forestry products company, documented an instance in which the Bishop of Vasteras acquired a 12.5% interest in the Great Copper mine. In exchange, he offered an estate.

31st December 1600:  Queen Elizabeth I granted the English East India Company an English Royal Charter. It was one of the most notorious joint-stock companies at the time.  The company, based on the intentions of the monarchy to establish trade routes in the East Indies, was granted a monopoly on all trade in the East Indies. The East India Company soon transited from a typical trade company to a colonial administration, and continued until it was dissolved.

The Dutch East India Company

The British were not the only ones who wanted a share of the pie that was the East Indies. In 1602, two years after their English counterparts set out to conquer the Indies, the Dutch made their move. The Dutch East India Company issued the first set of shares to trade on the Amsterdam Stock Exchange. This initiative enhanced the effectiveness of joint-stock companies in reaching out to investors. Thus, the Dutch East India Company became the first multinational corporation and the first mega-corporation. It traded 2.5 million tons of cargo with Asia on 4,785 ships and a million Europeans between 1602 and 1796.

This method of pooling finances together to undertake great projects proved most beneficial to economic growth in Europe. This is a stark difference from earlier times in which only the government and exceptionally wealthy families bore the economy on their shoulders.

The Netherlands established a stock market that included the use of stock futures, stock options, and short selling (although without government approval) with the help of credit to purchase shares. Edward Stringham discovered that practices like short-selling continued unabated despite government prohibition and that such contracts were created outside the interference of the state.

The Dutch East India Company was a major landmark in the history of the stock exchange. It was under the company that stocks were traded on such a large scale.

The Great Depression of the 1930s

The Great Depression was the most significant economic calamity of the 20th century. It began when stock prices in the United States took a major nosedive. When everyone thought that was the worst, Black Thursday came. The worldwide GDP (Gross Domestic Product) fell by 15%, and the shockwaves shook national economies to their core. The next decade saw poverty, unemployment, crime and death in no small measure. Thus, it came to be known as the Great Depression.

After the Wall Street crash of 1929, which saw stocks drop from 381 to 198, according to the Dow Jones Industrial Average, investors could heave a sigh of relief. The stock market rose to 294 on the Dow average, leaving many to speculate that the worst was behind. That was when the stock market steadily declined to as low as 41 in 1932, driving customers to cut their costs by 10%. As if that wasn’t enough, a severe drought crippled the United States agricultural industry.

Consumers had to reduce their spending by 10%, and interest rates dropped drastically.  Investments stayed low, commodity prices were on a free fall, and farmers, worst hit by the crisis, began to sell off their land. Billions of dollars were lost. Thousands of investors were ruined, their fates uncertain even when the economy recovered. Recover it did.

By 1933, most countries started regaining their bearings,  gaining footing in the ocean of chaos. However, it wasn’t until 1940 that the economy stabilized although, with an unemployment rate of 15%.

The Financial Crisis of 2007-2008

Also known as the Global Financial Crisis (GFC), this was the 21st-century version of the Great Depression. This time around, it was the financial institutions and individuals that lit the fuse. Exploitative lending aimed at low-level homebuyers, daredevil risk-taking by global financial organizations and the United States housing bubble soon culminated in a dire economic situation. Paid in their own coin, financial institutions were fatally damaged. Thus, it came to be known as the Great Recession.

Do you know? Iceland suffered the most extraordinary economic collapse in history when three of its major banks experienced bank failure. This incident is known as the Icelandic Financial Crisis.

Between 2007 and 2009, European banks were estimated to have lost more than $1 trillion on toxic assets, according to the International Monetary Fund. The global economy suffered up to $2 trillion in losses. Investors lost confidence in bank solvency, and the rapid fall of credit availability meant that stock prices began to plummet.

Beginning in the United States, the effects soon spread to other parts of the world. Central banks went from “lenders of last resort” to “lenders of only resort”. In the largest monetary policy action in world history, central banks around the world took on a government debt of $2.5 trillion for liquidity injection. The United States was not faring better either: home mortgage debt relative to GDP increased from an average of 46% to 73% in 2008. Household wealth dropped from $61.4 trillion to $59.4 trillion, while unemployment peaked at 11% at breakneck speed, the highest since 1983.

At the end of the economic tribulation, the global distribution of wealth had changed. Countries like China proved that the greatest treasures lay in the most dangerous storms. This time, a global catastrophe sent China soaring into the ranks of the world’s richest countries.


More on this topic

More Stories

Refreshing and Insights
at No Cost to You!

Cancel anytime

Latest Articles

Leave a Reply


Top Products

Contact us

Wherever & whenever you are,
we are here always.

The Middle Land

100 Wilshire Blvd., Suite 700 Santa Monica, CA 90401
Footer Contact

To Editor

Terms and Conditions

October, 2023

Using our website

You may use the The Middle Land website subject to the Terms and Conditions set out on this page. Visit this page regularly to check the latest Terms and Conditions. Access and use of this site constitutes your acceptance of the Terms and Conditions in-force at the time of use.

Intellectual property

Names, images and logos displayed on this site that identify The Middle Land are the intellectual property of New San Cai Inc. Copying any of this material is not permitted without prior written approval from the owner of the relevant intellectual property rights.

Requests for such approval should be directed to the competition committee.

Please provide details of your intended use of the relevant material and include your contact details including name, address, telephone number, fax number and email.

Linking policy

You do not have to ask permission to link directly to pages hosted on this website. However, we do not permit our pages to be loaded directly into frames on your website. Our pages must load into the user’s entire window.

The Middle Land is not responsible for the contents or reliability of any site to which it is hyperlinked and does not necessarily endorse the views expressed within them. Linking to or from this site should not be taken as endorsement of any kind. We cannot guarantee that these links will work all the time and have no control over the availability of the linked pages.


All information, data, text, graphics or any other materials whatsoever uploaded or transmitted by you is your sole responsibility. This means that you are entirely responsible for all content you upload, post, email or otherwise transmit to the The Middle Land website.

Virus protection

We make every effort to check and test material at all stages of production. It is always recommended to run an anti-virus program on all material downloaded from the Internet. We cannot accept any responsibility for any loss, disruption or damage to your data or computer system, which may occur while using material derived from this website.


The website is provided ‘as is’, without any representation or endorsement made, and without warranty of any kind whether express or implied.

Your use of any information or materials on this website is entirely at your own risk, for which we shall not be liable. It is your responsibility to ensure any products, services or information available through this website meet your specific requirements.

We do not warrant the operation of this site will be uninterrupted or error free, that defects will be corrected, or that this site or the server that makes it available are free of viruses or represent the full functionality, accuracy and reliability of the materials. In no event will we be liable for any loss or damage including, without limitation, loss of profits, indirect or consequential loss or damage, or any loss or damages whatsoever arising from the use, or loss of data, arising out of – or in connection with – the use of this website.

Privacy & Cookie Policy

October, 2023

Last Updated: October 1, 2023

New San Cai Inc. (hereinafter “The Middle Land,” “we,” “us,” or “our”) owns and operates www.themiddleland.com, its affiliated websites and applications (our “Sites”), and provides related products, services, newsletters, and other offerings (together with the Sites, our “Services”) to art lovers and visitors around the world.

This Privacy Policy (the “Policy”) is intended to provide you with information on how we collect, use, and share your personal data. We process personal data from visitors of our Sites, users of our Services, readers or bloggers (collectively, “you” or “your”). Personal data is any information about you. This Policy also describes your choices regarding use, access, and correction of your personal information.

If after reading this Policy you have additional questions or would like further information, please contact us.


We collect and process personal data only for lawful reasons, such as our legitimate business interests, your consent, or to fulfill our legal or contractual obligations.

Information You Provide to Us

Most of the information Join Talents collects is provided by you voluntarily while using our Services. We do not request highly sensitive data, such as health or medical information, racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership, etc. and we ask that you refrain from sending us any such information.

Here are the types of personal data that you voluntarily provide to us:

  • Name, email address, and any other contact information that you provide by filling out your profile forms
  • Billing information, such as credit card number and billing address
  • Work or professional information, such as your company or job title
  • Unique identifiers, such as username or password
  • Demographic information, such as age, education, interests, and ZIP code
  • Details of transactions and preferences from your use of the Services
  • Correspondence with other users or business that you send through our Services, as well as correspondence sent to JoinTalents.com

As a registered users or customers, you may ask us to review or retrieve emails sent to your business. We will access these emails to provide these services for you.

We use the personal data you provide to us for the following business purposes:

  • Set up and administer your account
  • Provide and improve the Services, including displaying content based on your previous transactions and preferences
  • Answer your inquiries and provide customer service
  • Send you marketing communications about our Services, including our newsletters (please see the Your Rights/Opt Out section below for how to opt out of marketing communications)
  • Communicate with users who registered their accounts on our site
  • Prevent, discover, and investigate fraud, criminal activity, or violations of our Terms and Conditions
  • Administer contests and events you entered

Information Obtained from Third-Party Sources

We collect and publish biographical and other information about users, which we use to promote the articles and our bloggers  who use our sites. If you provide personal information about others, or if others give us your information, we will only use that information for the specific reason for which it was provided.

Information We Collect by Automated Means

Log Files

The site uses your IP address to help diagnose server problems, and to administer our website. We use your IP addresses to analyze trends and gather broad demographic information for aggregate use.

Every time you access our Site, some data is temporarily stored and processed in a log file, such as your IP addresses, the browser types, the operating systems, the recalled page, or the date and time of the recall. This data is only evaluated for statistical purposes, such as to help us diagnose problems with our servers, to administer our sites, or to improve our Services.

Do Not Track

Your browser or device may include “Do Not Track” functionality. Our information collection and disclosure practices, and the choices that we provide to customers, will continue to operate as described in this Privacy Policy, whether or not a “Do Not Track” signal is received.


We may share your personal data with third parties only in the ways that are described in this Privacy Policy. We do not sell, rent, or lease your personal data to third parties, and We does not transfer your personal data to third parties for their direct marketing purposes.

We may share your personal data with third parties as follows:

  • With service providers under contract to help provide the Services and assist us with our business operations (such as our direct marketing, payment processing, fraud investigations, bill collection, affiliate and rewards programs)
  • As required by law, such as to comply with a subpoena, or similar legal process, including to meet national security or law enforcement requirements
  • When we believe in good faith that disclosure is necessary to protect rights or safety, investigate fraud, or respond to a government request
  • With other users of the Services that you interact with to help you complete a transaction

There may be other instances where we share your personal data with third parties based on your consent.


We retain your information for as long as your account is active or as needed to provide you Services. If you wish to cancel your account or request that we no longer use your personal data, contact us. We will retain and use your personal data as necessary to comply with legal obligations, resolve disputes, and enforce our agreements.

All you and our data are stored in the server in the United States, we do not sales or transfer your personal data to the third party. All information you provide is stored on a secure server, and we generally accepted industry standards to protect the personal data we process both during transmission and once received.


You may correct, update, amend, delete/remove, or deactivate your account and personal data by making the change on your Blog on www.themiddleland.com or by emailing our customer service. We will respond to your request within a reasonable timeframe.

You may choose to stop receiving Join Talents newsletters or marketing emails at any time by following the unsubscribe instructions included in those communications, or you can contact us.


The Middle Land include links to other websites whose privacy practices may differ from that of ours. If you submit personal data to any of those sites, your information is governed by their privacy statements. We encourage you to carefully read the Privacy Policy of any website you visit.


Our Services are not intended for use by children, and we do not knowingly or intentionally solicit data from or market to children under the age of 18. We reserve the right to delete the child’s information and the child’s registration on the Sites.


We may update this Privacy Policy to reflect changes to our personal data processing practices. If any material changes are made, we will notify you on the Sites prior to the change becoming effective. You are encouraged to periodically review this Policy.


If you have any questions about our Privacy Policy, please contact customer service or send us mail at:

The Middle Land/New San Cai
100 Wilshire Blvd., 7th Floor
Santa Monica, CA 90401

Article Submission


Are you sure? Do you want to logout of the account?

New Programs Added to Your Plan

March 2, 2023

The Michelin brothers created the guide, which included information like maps, car mechanics listings, hotels and petrol stations across France to spur demand.

The guide began to award stars to fine dining restaurants in 1926.

At first, they offered just one star, the concept was expanded in 1931 to include one, two and three stars. One star establishments represent a “very good restaurant in its category”. Two honour “excellent cooking, worth a detour” and three reward “exceptional cuisine, worth a


February 28, 2023        Hiring Journalists all hands apply

January 18, 2023          Hiring Journalists all hands apply


Leave a Reply

Forgot Password ?

Please enter your email id or user name to
recover your password

Thank you for your participation!
Back to Home
Thank you for your subscription!
Please check your email to activate your account.
Back to Home
Thank you for your participation!
Please check your email for the results.
Back to Home

Login to Vote!

Thank you for your participation,
please Log in or Sign up to Vote

Thank you for your Comment

Back to Home

Reply To:

New Programs Added to Your Plan

Login Now

123Sign in to your account