The last 100 years have seen some of the most monumental events in the history of finance.
From the Great Depression to the rise of Bitcoin, these events have had a profound impact on the way we think about money and investing.
Here are 10 of the most important events in the last 100 years of finance:
- The Great Depression (1929-1939). The Great Depression was the worst economic downturn in modern history. It began with the stock market crash of October 1929 and lasted for over a decade. The Depression caused widespread unemployment, poverty, and social unrest.
- The Bretton Woods Agreement (1944). The Bretton Woods Agreement was a system of international monetary cooperation that was established after World War II. The agreement fixed the exchange rates of major currencies to the U.S. dollar, which was in turn backed by gold.
- The Oil Crisis (1973). The Oil Crisis was a period of high oil prices that began in 1973. The crisis was caused by the Arab oil embargo, which was imposed in response to the Yom Kippur War. The crisis had a major impact on the global economy, causing inflation and recession.
- The Development of Derivatives (1970s). Derivatives are financial instruments that derive their value from an underlying asset, such as a stock or a commodity. Derivatives were first developed in the 1970s and have become increasingly complex and sophisticated in recent years.
- The Creation of the Euro (1999). The euro is the official currency of the European Union. It was created in 1999 and is now used by 19 countries. The euro has had a major impact on the global financial system, making it easier for businesses to trade and invest across borders.
- The Dot-Com Bubble (1995-2000). The Dot-Com Bubble was a period of rapid growth in the technology sector that began in the mid-1990s. The bubble burst in 2000, causing widespread losses for investors.
- The Global Financial Crisis (2008). The Global Financial Crisis was the worst financial crisis since the Great Depression. It was caused by a number of factors, including the subprime mortgage crisis in the United States. The crisis led to the collapse of several major financial institutions and caused widespread economic damage.
- The Rise of Bitcoin (2009). Bitcoin is a digital currency that was created in 2009. It is based on a peer-to-peer network and does not require a central authority to issue or regulate it. Bitcoin has become increasingly popular in recent years and is now used by millions of people around the world.
- The Development of Fintech (2010s). Fintech is a term used to describe the use of technology to improve financial services. Fintech companies have developed new ways to lend money, invest, and manage money. Fintech is having a major impact on the financial industry and is expected to continue to grow in the years to come.
- The COVID-19 Pandemic (2020-present). The COVID-19 pandemic has had a major impact on the global economy. The pandemic caused widespread economic disruption, including job losses, business closures, and stock market declines. The pandemic is also expected to have a lasting impact on the way we work, shop, and travel.