Tren Griffin @trengriffin I work for Microsoft. Previously I was a partner at Eagle River, a private equity firm established by Craig McCaw. I am on the board of directors of Kymeta. Feb. 09, 2020 1 min read

1/ This chart of falling interest rates over time has been on Twitter recently. Do you know when and where the concept of charging an interest rate originated?

2/ One view: "Although ancient economies were predominantly agricultural, the practice of accruing interest seems to have been first invented in the commercial sphere of Bronze Age Sumer, apparently with the temples playing a catalytic role."  https://michael-hudson.com/2000/03/how-interest-rates-were-set-2500-bc-1000-ad/ 

3/ "Mesopotamia’s commercial rate of 1/60th per month aimed at achieving a numerical ease of computing interest regularly at standardized rates. This basic rate found its counterpart in other regions — 1/10th in Greece, and 1/12th in Rome..."


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