![]() Old Pennsylvania Railroad stock certificate w/ 2 horse US $4.00
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When was the stock market first established in the US?
and who came up with the whole idea?
did it originate from adam smith and laissez-faire?
idk, i was just wondering.
the first corporations came from the railroads, right?
how was our economic system run prior to the development of large corporations?
Original Trading Pre-Stock Market (1602):
1st Multinational Corporation in the World and 1st Stock Company:
"The Dutch East India Company (Vereenigde Oost-Indische Compagnie or VOC in Dutch, literally "United East Indian Company") was a trading company, which was established in 1602, when the States-General of the Netherlands granted it a 21-year monopoly to carry out colonial activities in Asia. It was the first multinational corporation in the world and the first company to issue stock."
http://en.wikipedia.org/wiki/Dutch_East_India_Company
The NYSE was officially established in 1792 and that is when stocks were traded officially on a stock exchange.
NYSE Time Line
http://www.nyse.com/about/history/timeline_chronology_index.html
Dow Jones Time Line
http://www.dowjones.com/Pressroom/PressKits/NewJournal/NJ_history.htm
1884 Dow Jones Indexes founded
http://www.dowjones.com/TheCompany/History/History.htm
"The DJIA was founded on May 26, 1896, and represented the average of twelve stocks from important American industries. Twelve years earlier, Mr. Dow's initial stock average, containing 9 railroads and 2 Industrial stocks..."(more)
http://en.wikipedia.org/wiki/Dow_Jones_Industrial_Average
Interesting reading. But FYI Smith had not "invented" or was part of forming the stock market.
"The Wealth of Nations"
http://en.wikipedia.org/wiki/The_Wealth_of_Nations
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