1300s 73 advances
1300
International credit markets
finance
1300
Merchant account ledgers
finance
1302
Long-distance wool trade systems
finance
1303
State customs administration
finance
1305
Merchant shipping insurance pools
finance
1306
Cross-border debt instruments
finance
1307
Warehouse receipt trading
finance
1308
Urban grain exchange markets
finance
1309
Commercial arbitration tribunals
finance
1311
Public market regulation
finance
1312
Commercial apprenticeship systems
finance
1313
Regional trade confederations
finance
1317
Commercial tax farming
finance
1318
Merchant risk-sharing partnerships
finance
1321
Port tariff administration
finance
1323
Commodity inspection systems
finance
1325
Regional credit clearing
finance
1327
Municipal debt issuance
finance
1328
Cross-border merchant law
finance
1330
Commodity brokerage
finance
1330
Commodity brokerage markets
finance
1331
Urban merchant exchanges
finance
1332
Trade finance networks
finance
1333
Commercial debt securitization
finance
1335
Regional banking alliances
finance
1336
Commercial property records
finance
1338
Merchant fleet financing
finance
1340
Commercial bookkeeping standards
finance
1341
Commercial audit procedures
finance
1343
International merchant correspondence
finance
1345
Urban contract enforcement
finance
1346
Trade risk assessment methods
finance
1348
Labor market restructuring
finance
1349
Wage regulation systems
finance
1350
Labor market monetization
finance
1350
Monetized labor markets
finance
1351
Commercial labor contracts
finance
1353
Merchant capital accumulation
finance
1354
Long-distance payment networks
finance
1355
Urban property taxation
finance
1356
Commercial legal precedents
finance
1357
Regional trade courts
finance
1358
State revenue administration
finance
1359
Merchant investment partnerships
finance
1360
Commercial arbitration systems
finance
1362
Trade inspection bureaus
finance
1364
Commodity warehousing systems
finance
1365
Commercial dispute resolution
finance
1368
Merchant bookkeeping manuals
finance
1369
Cross-border commercial treaties
finance
1370
State debt financing
finance
1372
International merchant agreements
finance
1373
Public finance offices
finance
1374
Commercial tariff schedules
finance
1375
Maritime insurance contracts
finance
1376
Trade documentation standards
finance
1377
Merchant banking syndicates
finance
1379
Commercial freight insurance
finance
1381
Commercial labor mobility
finance
1382
State trade regulation
finance
1384
Commercial licensing systems
finance
1387
Commodity market oversight
finance
1388
Commercial exchange clearing
finance
1389
Cross-border merchant finance
finance
1390
Commercial warehouse receipts
finance
1391
Municipal financial accounting
finance
1392
Commercial cargo manifests
finance
1393
Trade credit administration
finance
1394
Regional market supervision
finance
1396
Public commercial archives
finance
1397
Trade route intelligence networks
finance
1398
Commercial valuation methods
finance
1399
Pre-modern capitalist institutions
finance
1400s 33 advances
1409
Merchant fleet accounting systems
finance
1411
Harbor customs networks
finance
1414
Overseas trade monopolies
finance
1415
Colonial trading outposts
finance
1422
Merchant shipping syndicates
finance
1424
International port agreements
finance
1426
Overseas trading stations
finance
1427
Merchant intelligence networks
finance
1429
Ocean trade financing
finance
1430
Financial clearing networks
finance
1433
Imperial trade administration
finance
1434
Merchant investment houses
finance
1436
International merchant treaties
finance
1438
Commercial record standardization
finance
1439
Cross-border financial settlements
finance
1449
Printed accounting records
finance
1454
Printed financial forms
finance
1459
Printed business records
finance
1469
Merchant reporting networks
finance
1470
Merchant capitalism expansion
finance
1471
Investment-based commerce
finance
1473
Commercial capital markets
finance
1474
Business partnership law
finance
1475
Long-distance investment finance
finance
1476
International merchant ventures
finance
1477
Trade risk diversification
finance
1479
Cross-border investment networks
finance
1483
Long-distance shipping finance
finance
1485
Overseas trade investment
finance
1490
Global exploration economy
finance
1491
Transcontinental trade planning
finance
1494
International treaty-based commerce
finance
1497
Oceanic exploration finance
finance
1800s 21 advances
1815
Modern actuarial insurance
finance
1817
Principles of Political Economy and Taxation — comparative advantage, rent theory
finance · David Ricardo · London, England
The Ricardian rent gradient is the foundation of urban land economics; underpins Alonso (1964) bid-rent and modern CBD theory.
1822
Modern demographic statistics
finance
1822
Statistical demographic surveys
finance
1836
Commercial railroad finance
finance
1841
Corporate bookkeeping standards
finance
1841
Professional accounting expansion
finance
1841
Professional auditing
finance
1844
Long-distance information markets
finance
1848
Communist Manifesto (1848) and Capital vol. I (1867) — Marxist political economy
finance · Karl Marx & Friedrich Engels · London, England
Frames 20-c political economy and a substantial fraction of urban-and-housing theory (Harvey 1973, Castells 1972).
1853
Modern fire insurance systems
finance
1853
Modern insurance underwriting
finance
1853
Risk actuarial science
finance
1857
Business credit scoring
finance
1857
Commercial credit agencies
finance
1857
Commercial credit reporting
finance
1867
Stock ticker
finance · Edward A. Calahan / Gold & Stock Telegraph · New York NY, United States
Pulls financial news off the trading floor and into every brokerage office in the city; physically anchors the CBD to the wire-network grid.
1870
Corporate management structures
finance
1870
Managerial capitalism
finance
1870
Professional corporate bureaucracy
finance
1872
Mail-order retailing
finance
1900s 45 advances
1901
Modern corporate research laboratories
finance
1911
Modern industrial efficiency studies
finance
1911
Taylorist production systems
finance
1913
Mass manufacturing economics
finance
1924
Consumer installment financing
finance
1924
Installment-credit purchasing
finance
1925
The Great Transformation — economic embeddedness (1944)
finance · Karl Polanyi · Vienna, Austria
Foundational text for economic sociology, anthropology of economy, and 20-c political economy.
1926
Mass marketing science
finance
1926
National advertising industries
finance
1929
Automatic stock quotation systems
finance
1929
Consumer behavior research
finance
1929
Market research industry
finance
1929
Modern market analytics
finance
1929
Risk, Uncertainty and Profit (1921) — Knightian uncertainty matures
finance · Frank H. Knight / U. Chicago · Chicago IL, United States
Foundation of 20-c economics of information and decision under uncertainty.
1936
The General Theory of Employment, Interest and Money — Keynesian macroeconomics
finance · John Maynard Keynes · Cambridge, England
Foundation of post-1945 macroeconomic policy; explicit basis of urban-stimulus public works of the New Deal and modern Federal infrastructure.
1946
Digital business accounting
finance
1949
Modern credit card concepts
finance
1953
Arrow's impossibility theorem (1951) — social choice theory
finance · Kenneth Arrow · Stanford CA, United States
Foundation of modern social choice and welfare economics.
1960
Electronic securities processing
finance
1960
Electronic stock trading concepts
finance
1965
Electronic funds transfer
finance
1967
ATM banking machines
finance
1967
Automated teller machine (ATM)
finance · John Shepherd-Barron / Barclays · Enfield, England
Disintermediates the bank teller; reshapes branch real-estate strategy.
1967
Automated teller machines
finance
1971
NASDAQ — first electronic stock market
finance · NASDAQ / National Association of Securities Dealers · New York NY, United States
Telephony + IC together produce the screen-based trading desk; the 1980s Wall Street tower trading floor follows.
1977
Post-Fordism / flexible specialisation thesis (Piore & Sabel 1984)
finance · Eric Hobsbawm / Michael Piore / Charles Sabel · Cambridge MA, United States
Theoretical frame for late-20c industrial-district literature (Saxenian on Silicon Valley, 1994).
1978
Computerized financial analysis
finance
1979
Toyota Production System / Lean (Ohno 1978 in JP, English 1988)
finance · Taichi Ohno / Toyota · Kyoto, Japan
Reshapes 20-c manufacturing and (later) software engineering; basis of the Lean Startup.
1980
Computerized financial trading
finance
1980
Genentech IPO — first biotech blockbuster
finance · Genentech · San Francisco CA, United States
Biotech industry as a category begins; concentrates around Boston-Cambridge, SF-South-Bay.
1982
Electronic communication network (ECN) for institutional trading
finance · NYSE / Instinet / NASDAQ · New York NY, United States
Foreshadows the algorithmic-trading floor that, in the 2000s, hollows out the physical exchange.
1987
Cap-weighted index funds dominate institutional investing (post-Wells Fargo 1971; matured 1980s)
finance · Stanford Graduate School of Business · Stanford CA, United States
Index investing reshapes asset management; corporate boards become more responsive to passive flows.
1994
E-commerce platforms
finance
1994
Online retailing
finance
1994
Secure electronic commerce
finance
1994
Secure online transactions
finance
1995
eBay launched (online auction marketplace)
finance · Pierre Omidyar · Mountain View CA, United States
Long-tail commerce; the first proof that consumers will transact strangers online.
1995
Online financial services
finance
1995
Real-business-cycle / DSGE modelling becomes the macro mainstream
finance · Janet Yellen / Robert Lucas / IS-LM critique · Atlanta GA, United States
Dominant macro framework in central banks and academia 1990-2010.
1995
Regional Advantage — Silicon Valley vs Route 128
finance · AnnaLee Saxenian · Cambridge MA, United States
Theoretical frame for tech-cluster policy; explanatory of why Silicon Valley overtook Massachusetts.
1997
Subnational fiscal decentralisation theory
finance · Roy Bahl / Richard Bird · New York NY, United States
Reshapes the design of fiscal federalism in most large countries.
1998
Electronic payment gateways
finance
1998
Online payment gateways
finance
1998
PayPal — online payment platform
finance · PayPal (Confinity / X.com) · San Mateo CA, United States
Inaugurates consumer e-payments; later Stripe (2010) follows.
1999
Institutions-and-growth thesis (Acemoglu et al. 2001-2012)
finance · Daron Acemoglu, Simon Johnson, James Robinson · Cambridge MA, United States
Reshapes development economics; 2024 Nobel Prize.