History of Money, Banking, and Trade
Episode 4: Hammurabi and the Genesis of Commerce: Exploring Trade, Banking and Wealth in Ancient Babylonia
Step back in time with us to the Old Babylonian Empire, where the framework for modern commerce and finance was first established. We'll examine Hammurabi's pivotal role, his laws aiming to protect his people while also outlining the rudimentary principles of trade and money. From laws preserving slavery to harsh penal codes for stolen goods, we'll unveil the fascinating, often harsh, realities of ancient Mesopotamian society. Those intrigued by the birth of banking will appreciate the exploration of early banking laws that set the stage for modern finance.
The episode continues with a captivating account of trade and banking in ancient Babylonia, revealing how merchants evolved into bankers and the significant risks faced in early commerce and agriculture. We'll dive into the palace and temple bureaucracy's role in commercial activities and the strategic power shifts that occurred within historical Babylonia. Lastly, we delve into the rise and prosperity of Babylon, the transition from the Bronze Age to the Iron Age, and how silver became a key medium of exchange that fueled civilization. Prepare for a compelling journey through history, showcasing the enduring impact of these early economic systems.
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