Question

Talk about the history of banking and how has it changed over time

Answer 1

Banking establishments had been created out of a need to satisfy the marketplace to offer loans to most people. As economies grew banks allowed most of the people to increase their credit and make huge purchases.

traditionally temples have been considered the earliest varieties of banks as they have been occupied through monks and feature come to be a haven for the rich.

The earliest Roman legal guidelines allowed for taking up land in lieu of mortgage payments which have been owed among debtors and lenders.

A well-known economist, Adam Smith all through the 18th century theorized that a self-regulated economic device might allow for markets to reach balance