The Dutch have been hailed for inventing many things such as the Telescope, Wi-Fi, Bluetooth and even the Microscope. They also contributed in no small part however, to the development of the financial system.
At a time when Europe was exploring the world and countries like Spain had gold from the Americas to fund them, the Dutch came up with the Stock market in the early 17th century so that they could fund their overseas businesses.
By encouraging people of all walks of life to invest in companies like the Dutch East India Company, the Dutch economy improved and their business flourished. They then applied this to the Bond market and raised funds to enable the Government fight wars.
