Long-Term Mortgages

Mortgages are loans to purchase a property. The word derives from the French “mort” and meant death pledge with the obligation ending when the loan was paid off or the property repossessed. Background The Dutch have the earliest mortgages. Originally in the Netherlands, people saved money and purchased their house for cash. However, starting in […]


The Jukebox is an automated coin-operated music player which plays individual songs. The differentiating factor of the Jukebox from a simple coin-operated record player is the ability of an automated machine to replace live music in a restaurant or bar. Background Louis Glass and William Arnold modified Edison’s record players to operate by coins. These […]

Blue Ocean Strategy & Finance: Margin Lending

Margin lending refers to the process of using borrowed money for investing. For example, a traditional investor may purchase 100 shares of a business for $10, spending $1,000. However, using margin, that same person may purchase 150 shares, spending the same $1,000 and borrowing another $500. If the stock price goes up, they pay the […]

Central Banks

Background The first central bank was Swedish Riksbank. The Swedish government chartered it to act as a clearinghouse for commerce. In 1694, the Bank of England was founded. It’s primary purpose was to purchase government debt. Napoleon chartered the Banque de France to stabilize currency after the French Revolution. Early central banks, and their modern […]