Jump to content

Bank of England -


observer
 Share

Recommended Posts

According to Dan Snow, the B of E originated in 1685, and was created to pay for the building of a large Royal Navy. To raise the "1.2 milion. investors were promised a return of 8% - the Navy was built - our trade was protected and taxed - and revenues were used to pay out to investors. This huge increase in ship building stimulated the creation and expansion of new industries and employment, the number of sailors quadrupled and with it a demand for food and supply, that increased agricultural output by a third. Sounds a bit like Keynesian economics to me?! :wink: PS - and of course the National Debt was created! :lol:

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

×
×
  • Create New...