Re: First Insurance Company

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

Barbon was a fascinating character, who made a fortune in rebuilding
London.  He also wrote economics tracts which support a subjective theory
of value

 On Mon, Nov 19, 2001 at 11:59:00PM +0000, Chris Burford wrote:
>
>
> http://www.irmi.com/expert/articles/klein002.asp
>
>
> Another historical gem, this time from the "International Risk Management
> Institute" again courtesy of Google.
>
> This is the comment on the author of Marx's second footnote in Capital, and
> links up with Michael's point about fire insurance:
>
> >Cromwell's parliament had been nicknamed "the Barebone's Parliament," due
> >to a particularly notorious member, Isaac Praise-God Barebone. Praise-God
> >Barebone was a deeply religious preacher, and he named his son Hath Christ
> >Not Died for Thee Thou Wouldst Be Damned Barebone. The son later changed
> >his name to Nicholas Barbon.
> >
> >By the time of the Great Fire, Nicholas Barbon, M.D., was a successful
> >doctor but was already starting to make a name for himself as a prolific
> >writer and economist. He got involved in the reconstruction of London. .....
> >
> >In the year following the fire, 1667, Dr. Barbon was instrumental in
> >forming the first actual insurance company. It was known as "The Insurance
> >Office" and was located in a small office behind London's Royal Exchange
> >(stock market).
>
>
> Chris Burford
>
>
>
>
>

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael@xxxxxxxxxxxxxxxxx