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9min chapter
The Economics of the Merchant of Venice: Lessons from an Empire of Trade
The David McWilliams Podcast
Economic Innovations in Venice
This chapter examines the economic breakthroughs in Venice, focusing on the Ducat as a pivotal reserve currency and the introduction of double-entry bookkeeping. It further explores how innovations like fractional reserve banking and patents shaped modern economics while also reflecting on Venice's decline due to changing trade routes.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode