We analyze the evolution of payments in the Low Countries during the period 1500-1800 to argue for the historical importance of money of account or ghost money. Aided by the adoption of new bookkeeping practices such as ledgers with current accounts, this convention spread throughout the entire...

With their legal personhood, permanent capital with transferable shares, separation of ownership and management, and limited liability for both shareholders and managers, the Dutch East India Company (VOC) and subsequently the English East India Company (EIC) are generally considered a major...

The Dutch East India Company or VOC in 1602 showed many characteristics of modern corporations, including limited liability, freely transferable shares, and well-defined managerial functions. However, we challenge the notion of the VOC as the precursor of modern corporations to argue that the...

Mortgage markets in developing economies are often confined to private networks. Inadequate registration of property rights has been blamed for this, but it is questionable whether registration provides a simple and complete solution. This paper addresses this issue by analysing the Low...

This article examines the Dutch medical marketplace between 1650 and 1900 from a household’s perspective, based on the probate inventories database of the Meertens Institute. It offers the first quantitative analysis of demand for medical care in small towns and villages across the...