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How has modern insurance evolved from its original roots

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Assignment

Answer the question with citation and references.

As the world continues to struggle to find its footing amid rising unemployment, constricted credit, and crumbling banks and industries - raising questions about how the economic system collapsed - PBS presents Niall Ferguson's ASCENT OF MONEY. This ground-breaking four-part series examines the creation of the economic system by taking viewers on a global trek through the history of money. Watch Part 3 of the video and answer the following questions:

1. How has modern insurance evolved from its original roots in Scotland? Has this evolution been to the benefit of the modern insurance customer?

2. How do the concepts of credit and interest, as incorporated into banking and money lending, help to stimulate economic growth?

3. Give one example of how you think it may have stimulated growth in medieval times and one example of how it works today.

Video

Watch the following youtube video- Ferguson, N. (2009): "The Ascent of Money: Ep.3 Blowing bubbles".

Reference no: EM131744921

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