Sweden's Great Copper Mountain and the Birth of the First European Stock Corporation

Before the Swedish iron exports that fueled the nation's rise, there was copper — and at the center of it all was Stora Kopparberget, the Great Copper Mountain in Falun. This episode dives into the medieval mining community that evolved into the world's oldest joint-stock company still in operation, Stora Enso. Lucas and Luna explore how the discovery of massive copper deposits in the 13th century transformed Sweden from a poor, peripheral kingdom into a major economic power. They discuss the early mining techniques, the brutal conditions underground, the formation of the Stora Kopparbergs bergslag, and the 1347 charter that granted privileges to the miners — a document often cited as the birth certificate of the modern corporation. The conversation also touches on the environmental impact, the role of the Hanseatic League in exporting Swedish copper, and how the wealth from Falun helped finance Sweden's wars and imperial ambitions during the 17th century. A lesser-known but pivotal chapter in Sweden's economic history, featuring names like Engelbrekt Engelbrektsson (who led a rebellion partly over mining taxes), the Vasa kings, and the fateful collapse of the mine in 1687.

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