Financial historians advise investors against making impulsive decisions during periods of high volatility, citing historical data that shows panic selling often exacerbates losses when market crashes occur.
Marking 680 years since Charles IV inherited the Bohemian crown, historians commemorate his father, King John of Luxembourg, who secured the imperial title before falling at the Battle of Crécy in 1346, praising his diplomatic and royal legacy.
A Malaysian Islamic university has dismissed an academic whose viral claims about ancient Malay civilization, including that Malays could fly and taught Chinese 'flying kung fu,' drew widespread ridicule from historians.
British historians Tom Holland and Dominic Sandbrook's podcast, 'The Rest Is History', unexpectedly rose to become the leading history podcast in the English-speaking world.
The first English colony in America, Roanoke, was found abandoned with mysterious inscriptions 'CRO' and 'CROATOAN' on a tree, a puzzle that continues to intrigue historians.
A biopic about Charles de Gaulle has become a surprise box office hit among younger viewers in France, with historians suggesting the enthusiasm reflects a desire for a unifying figure amidst political division.
Real estate development company Darnu Group has introduced a new free educational route, 'Vilnius Bridges,' created in collaboration with scientists and city historians to explore Vilnius's history through its bridges.
A group of historians and researchers has identified 137 factual errors in the 2024 Moldovan history textbook for 12th grade, deeming it 'unacceptable.'
Historians Lydie Bodiou and Véronique Mehl discuss Christopher Nolan's film 'The Odyssey,' focusing on its nuanced portrayal of gender relations and the role of women in constructing masculinity.
Neste, a renewable jet fuel producer, has reported its best-ever quarterly results, swinging to profit amidst turmoil in the oil market. Despite the record performance, the CEO warned about production limitations.
A new book from leading scholars and historians challenges the prevailing narrative that Gullah communities were isolated from the mainland US, highlighting their widespread influence.
Eighty years ago, the first food packages from the aid organization CARE reached post-World War II Austria, which was devastated by hunger and poverty. Historians describe these packages as a crucial lifeline for the country.
Historians estimate the Via Francigena, a pilgrimage route from Canterbury to Rome, stretched approximately 1700 kilometers and typically took 70 to 90 days to complete. It served as a path for pilgrims and trade since Archbishop Sigeric's journey in 990 AD.
Former Japanese Prime Minister Shinzo Abe's quote emphasizes that politicians should approach history with humility, advocating for historians and experts to handle debated historical issues rather than political convenience.
Historians Dubravka Stojanović, Hrvoje Klasić, and Edin Omerčić discuss the challenges of confronting the past in the Balkan region, 31 years after significant events.
Historians are discussing whether any period in human history has been entirely free of war, defined as organized armed conflict between states or politically organized authorities. Stanford University historian Ian Morris suggests that nearly 99 percent of human history has not seen such conflicts.
The nearly 1,000-year-old Kars Castle, a prominent fortress in eastern Türkiye, is awaiting inclusion on the UNESCO World Heritage List as historians advocate for its recognition.
Historians Set Record Straight On 5 Events That Shaped America
Authored by Janice Hisle via The Epoch Times,
As America celebrates its 250th birthday, it’s prime time for historians…
Sony has announced it will cease production of physical game discs for PlayStation consoles by January 2028, a move that has drawn criticism from gamers, retailers, and historians concerned about game preservation and consumer rights.
Recent discoveries from DNA testing, archaeology, and archival research have significantly altered historians' knowledge and understanding of figures like Jefferson, Washington, and other Founding Fathers.
Historians and Greek community members are recalling the 1918 anti-Greek riots in Toronto, drawing parallels to contemporary anti-immigrant rhetoric and xenophobia.
An 11-member committee, including historians and archivists, will work on preparing the public release of secret agent files, timed for the 70th anniversary of the 1956 revolution. Márton Melléthei-Barna has submitted a bill on the matter.
A team of historians, scientists, and engineers has developed a portable X-ray scanner to study 4,000-year-old letters encased in clay envelopes. This technology allows for reading ancient texts without damaging the sealed artifacts.
A German exclusive report investigates the widespread use of the watermelon symbol in protests since October 7th, questioning whether it constitutes an antisemitic symbol and gathering insights from political scientists and historians.
Historians of German colonialism are increasingly focusing on the labor world, exploring how even in asymmetric employment relationships, the weaker side found room for agency and resistance.
A 'WhatsApp deletion drive' is underway in Westminster, raising concerns among future political historians who may struggle to access messages that have been automatically culled.
Artificial intelligence is set to empower historians and linguists to unlock previously unreadable texts, aiding in the resolution of historical and archaeological enigmas from the Phaistos Disc to Vatican archives.
Historians and chemists from Olomouc University and the Academy of Sciences are examining rare medieval manuscripts from the Olomouc Scientific Library, using advanced instruments to analyze the origin, composition, and painting techniques, including the discovery of brass.
Historians Stefano Bottoni and Karl Schlögel discussed Hungary's relationship with Russia following a power change and the Pope's potential role in mediation during a debate at the Goethe-Institut in Budapest.
France's recognition of its role in the 1994 Genocide against the Tutsi in Rwanda marks a historic turning point, more than three decades after the tragic events, with historians noting the significance of this acknowledgment.
Historians in the Hradec Králové Region of the Czech Republic are actively searching for forgotten graves of World War I soldiers, adding to the nearly three thousand war graves already registered in the area.
The Spanish Civil War is once again at the forefront of historiographical debate, with a new collective work by fifty historians offering a renewed and internationally-scoped understanding of the conflict.
Fabian Figueiredo of the Left Bloc advocates for a 'serious debate' with specialists on document declassification, arguing against giving the far-right a 'negative veto power' on discussion topics and proposing hearings with historians and journalists.
As 140 years pass since the death of Leopold von Ranke, questions are raised about the significance of the author of 'The Serbian Revolution' for Serbs, Germans, and historians today.
New research using ancient DNA extracted from two-thousand-year-old bones is beginning to answer long-standing questions about the origins of the Balkan peoples, a topic previously debated by historians, linguists, and politicians.
Archaeologists and historians are speculating about the origin of a massive hoard of 4,772 silver coins found in Mørstadjordet in Åmot, Østerdalen, Norway, in April.
Historians are criticizing a controversial makeover of the Reflecting Pool, which involved former President Trump, with a group now filing a lawsuit over the changes.
Pedro Benevides and Tomás Toscano launch a new Rádio Observador podcast, "Adivinha Quem Vem Jantar," inviting chefs and historians to discuss how cooking brings people together.
Historian Inmaculada Urrea investigates various 'fakes' surrounding Gabrielle Chanel's life, from her childhood in an orphanage to her alleged collaboration with the Nazis and the myth that she couldn't sew.
Social media platforms are being criticized for their inaction regarding the widespread dissemination of AI-generated images and videos falsely depicting the Holocaust, despite alarms raised by memorial sites and historians.
A woman on a casual walk in the Czech Republic unearthed more than 2,000 ancient coins in a field, turning her stroll into a significant archaeological discovery. The find is considered a jackpot for historians and archaeologists.
A genealogist argues that artificial intelligence cannot replace human historians, emphasizing the need for critical intelligence and specialized training in historical research and source methodology.
New research examines Leonardo da Vinci's painting techniques, revealing how his extended creative process and material choices resulted in fragile artworks that require significant 'care work' from modern art historians.
Berlingske asked the Copenhagen Museum to evaluate a mysterious AI film circulating online that offers a virtual tour of the capital during Christian IV's time, finding it impressive but with significant flaws.
The article delves into the evolving role of art history in the era of artificial intelligence, describing art historians as "forensic investigators of human consciousness."
Veteran historians in Germany, including Winkler, Aly, and Longerich, explore in their new books the fundamental and haunting question of how Nazism could have happened and the avoidability of the National Socialist dictatorship.
The Center for Historical Research at the University of Sarajevo's Faculty of Philosophy is organizing a roundtable discussion on April 16, focusing on the role of historiography and historians in contemporary media and public space.
Historians have established that former President Truman's description of Hiroshima as "a military base" was inaccurate, a characterization made during his "apocalyptic promise" statement.
The Indian Act marks 150 years since it was enacted this month. CBC Radio's The House spoke with First Nations leaders, historians and legal experts about the Indian Act and attempts by First Nations…
A discussion on "Needham's question" explores why China, despite millennia of scientific advancements, did not develop its own scientific and industrial revolutions. The article delves into the historical context of China's scientific trajectory.
Historians and anthropologists are challenging the traditional image of the obedient Kazakh woman, revealing the reality of life on the steppe where Kazakh families shared the demanding work of survival.
The work and authentic spirit of prominent sculptor and painter Ratko Vulanović, known for Nikšić's "Stone City" and who passed away in March 2023, are being discussed by art historians.
Sixty employees of the Slovak public television and radio (STVR) are currently awaiting official layoff notices, which are expected to be delivered gradually starting next Tuesday. This situation has created tension, with historians and dissidents supporting the editors, while Martina Flašíková attempts to calm employees via email.
Cuba experienced a national blackout after its electric grid collapsed, reportedly due to a lack of oil shipments and an ongoing energy crisis, marking the third major outage in four months.
Marking 50 years of Wanted! The Outlaws, artists and historians revisit the compilation that transformed Waylon, Willie, Jessi and Tompall into country’s defining rebels.
During the severe crisis of the 1990s, the regime explored models for survival without ever losing power. Today, facing an even bigger threat, Cuban historians and economists are analyzing possible scenarios
Historians and critics are drawing parallels between President Trump's rhetoric and policies on race and those of past presidents, particularly Woodrow Wilson, noting a grim echo from history.
Two historians and political scientists, Nikos Marantzidis and Stathis Kalyvas, who once shared a research path, now present different perspectives on the historical event of the '200 of Kaisariani'.
• Historian William Dalrymple criticises move, later says museum has not ‘cancelled’ the term wholesale
• Legal challenges instituted against campaign by UK Lawyers for Israel
LONDON: The British Museum has removed the word ‘Palestine’ from some of its gallery displays, revising maps and information panels in its ancient Middle East collections on the grounds that the term was used inaccurately and is no longer historically neutral.
Reports in leading British papers, including The Guardian, said the changes affect displays in the museum’s ancient Levant and Egypt galleries, where parts of the eastern Mediterranean coast had previously been labelled as ‘Palestine’, and some individuals described as being of “Palestinian descent”.
At least one panel in the Egypt galleries was amended to replace “Palestinian descent” with “Canaanite descent”.
The revisions followed representations from UK Lawyers for Israel (LFI), a voluntary group of solicitors, which wrote to the museum’s director arguing that the retrospective application of the term ‘Palestine’ across thousands of years obscured historical change and erased the emergence of the kingdoms of Israel and Judah from around the first millennium BCE.
In its response, the museum said that while ‘Palestine’ had been widely used in Western and Middle Eastern scholarship since the late nineteenth century as a geographical designation, it no longer carried a neutral meaning and is now often understood as referring to a modern political territory.
The museum said it uses ‘Canaan’ for the southern Levant in the later second millennium BCE, UN terminology for modern political boundaries, and ‘Palestinian’ as a cultural or ethnographic identifier where appropriate.
The decision has prompted criticism from historians and members of the public, with more than 5,000 people signing a petition calling for the museum to reverse the changes and arguing that they contribute to the erasure of Palestinian presence from public memory.
The Guardian also noted that while several displays have been updated, the museum claims these changes were made last year after feedback and audience research. Historian and author William Dalrymple criticised the move, calling it ridiculous to remove the word ‘Palestine’, when it has a greater antiquity than the word ‘British’.
“The first reference to Palestine is on the Egyptian monument of Medinet Habu in 1186 BCE. The first reference to Britain is the 4th century BC when it appears in the work of the Greek traveller Pytheas of Massalia,” he wrote on X. In a subsequent post, Dalrymple said that after speaking with the museum’s director, Nicholas Cullinan, he had learned that reports about the museum cancelling the name ‘Palestine’ altogether were inaccurate.
Quoting Cullinan, Dalrymple wrote: “To reassure you we are not removing mention of Palestine from our labels. Indeed, we have a display on at the moment about Palestine and Gaza.”
According to the historian, the director of the British Museum had said that only two panels in the ancient Levant gallery were amended last year during a routine gallery refresh, and that the director had not been aware of the issue until it became public. Cullinan was quoted as saying he had not seen the letter from UK Lawyers for Israel until recently and was “disgusted by the whole thing”.
Criticism
Academics who spoke to Middle East Eye defended the historical validity of the term. Marchella Ward, a lecturer in classical studies at the Open University, said “ancient Palestine” was a legitimate scholarly descriptor. “I use the term ‘ancient Palestine’ frequently in my own research and will continue to do so,” she said, adding that claims the term is illegitimate are aimed at “the erasure of Palestinians”.
The campaign group Energy Embargo for Palestine accused the museum of hypocrisy, saying it claims to objectively communicate history while “preparing itself to rewrite history, to erase Palestine, and its millions of people, out of the history books”.
Critics also argue that the museum’s decision fits into what they describe as a broader pattern of pressure exerted by UKLFI on public bodies.
According to the European Legal Support Centre (ELSC), a forthcoming database documents hundreds of incidents of alleged anti-Palestinian repression in the UK between 2019 and 2025, with UKLFI appearing in a significant number of cases.
Giovanni Fassina, executive director at ELSC told Middle East Eye that the targeting of the British Museum was part of a “very clear pattern” of letters threatening legal action or alleging breaches of UK law.
ELSC and the Public Interest Law Centre have submitted a complaint to the Solicitors Regulation Authority over UKLFI’s alleged use of strategic lawsuits against public participation (SLAPPs).
The UK Charity Commission has also confirmed it is investigating the group’s charitable wing following complaints by advocacy organisations.
UKLFI had argued in its letter that describing ancient civilisations as Palestinian creates “a false impression of continuity”.
Published in Dawn, February 17th, 2026
Questions have arisen regarding whether the book cover features a self-portrait by the late artist Margrieta Celmiņa, challenging the established narrative from art historians and her family.
At the National Forum of Pedagogical Workers, dedicated to Moldova's 35th anniversary of independence, teachers, historians, and first parliament deputies discussed national identity and dignity, noting the journey from fear of speaking Romanian to freedom.
Chinese media has intensified its criticism of a US-born school of thought on China's last imperial dynasty, alleging that it provides 'theoretical ammunition' for attempts to divide the country.
The tomb of Emperor Otto the Great in Magdeburg has undergone restoration, leading to new research on his remains by historians and surgeons, and he will soon receive a new resting place.
Prompted by a new Christopher Nolan film, historians and archaeologists are discussing whether the legendary figure of Odysseus was a real historical person or purely a myth, exploring where history ends and myth begins.
Historians from Kazakhstan, Uzbekistan, and Tatarstan are calling for a broader perspective on how the Golden Horde continues to shape historical narratives, emphasizing its lasting legacy.
The JNU Vice-Chancellor has proposed bringing a Venkateswara temple to the campus to generate funds and controversially stated that Draupadi was the first feminist, accusing JNU historians of distorting facts.
Historians are drawing parallels between the current global situation and the period leading up to 1914, raising questions about the possibility of a new world war.
Historians are questioning whether the Hollywood Walk of Fame has lost its appeal, citing cracked stars, aggressive vendors, and a boulevard that no longer feels glamorous.
Historians may need to revise the history of Pardubice Castle after the restoration of its Renaissance ceiling revealed it to be at least 150 years older than previously assumed. The discovery suggests the entire castle's history may need re-evaluation, dating back to the time of Charles IV.
Tiina and Otto Luukkonen recount their eventful 30-year journey in the Helsinki housing market, starting from their first home purchase three decades ago.
The Portuguese government has extended the commemorations of São Mamede to Ourique and Zamora, rebranding them as '900 years of the Foundation of Portugal,' a move debated by historians.
The city of Bad Vilbel has been renovating its water castle for two decades, with advice from building historians, monument conservators, and the Mainz Stone Institute, focusing on intricate details and complex questions.
Google DeepMind collaborated with Pele's family, historians, and eyewitnesses, utilizing advanced AI models to transform memories and historical fragments into moving images, reconstructing a legendary lost goal from 1959.
Slovak professional historians and their works are frequently accused by politicians, publicists, and even colleagues of interpreting history from non-Slovak perspectives.
Historians remain divided over the centuries-old mystery of whether Homer was truly blind, while a separate phenomenon sees public obsession with an unseen film titled 'Odyssey.' This highlights a trend of films being 'canceled' before their premiere.
An opinion piece discusses how historians, aiming for integration since the 19th century, have centered their work on the nation, often resulting in exclusion, and explores the relationship between history and the present.
Historians are still divided on whether US founding father Thomas Jefferson passed a moral test presented to him by Polish general and freedom fighter Thaddeus Kosciuszko.
A group of researchers is actively promoting a conspiracy theory that Vincent Van Gogh did not commit suicide but was murdered, suggesting the truth was covered up and dividing art historians.
Eighty years on, the murder of Elizabeth Short, known as the Black Dahlia, remains unsolved, continuing to fascinate historians, journalists, and investigators worldwide.
Jemele Hill claimed on CNN that the Electoral College is entirely 'rooted in slavery' and that it cost Kamala Harris the election. Historians, however, argue that her assertion oversimplifies the complex and full history of the Electoral College.
Historians are challenging the popular image of Robin Hood as a noble outlaw, suggesting that the original medieval stories portray him with a darker character.
The 'Literaturm' literary festival in Frankfurt explored the tensions between East and West, discussing consumerism, the legacy of dictatorship, and the distinction between novelists and historians.
The Monarchists – Movement for the Kingdom of Serbia are demanding that state institutions allow historians and the public access to files and archival material created before 1976, over half a century ago.
Conservationists have illuminated the chambers beneath Lahore Fort, with some historians believing these underground spaces served as shelters for members of the Mughal royal family during times of crisis.
Authorities in Moldova are still debating the future of Soviet-era monuments in Chișinău, including an equestrian statue of Grigori Kotovski, whom historians now describe as a bandit rather than a hero.
According to BTA, members of the Macedonian part of the commission refused to adopt the text of a recommendation for presenting the Ohrid Archbishopric in 7th-grade textbooks in Macedonia, which was allegedly agreed upon in June 2024.
A dispute has arisen over the realignment of the Foundation Flight, Expulsion, Reconciliation, with historians warning against a 'paradigm shift in remembrance policy' while the Federation of Expellees supports the interior minister's plans.
Market historians are expressing concern about the prospect of Kevin Warsh becoming Fed Chair, drawing parallels to the 1987 market crash, which occurred during a similar period of economic uncertainty.
Artificial intelligence is now being used to decipher medieval ciphers, revealing historical secrets from conspiracies and love letters to ancient remedies. Historians previously struggled with these complex codes, but AI is proving effective in unlocking their mysteries.
Brazil has reportedly stopped officially celebrating the abolition of slavery, with historians arguing that the Lei Áurea of 1888 legitimized an end that had already occurred socially, crediting the enslaved people themselves for their freedom.
Analysts and historians are debating Cuba's future, with the precedent of Caracas looming, but a 'capitalism without democracy' scenario is considered more likely than a full regime change.
An analysis of the 2,000 signatories of an anti-Bolloré petition reveals a diverse group, including sex workers, TV producers, and art historians, with some signatories feeling misled by an unannounced call for an UGC boycott.
Kaunas museum expert and historian Simonas Jazavita, along with Tapinas, discussed major Lithuanian history myths and conspiracy theories that continue to stir public consciousness.
Historians have long fought for the release of secret files concerning Josef Mengele, the 'Angel of Death' from Auschwitz, raising questions about why the Swiss government kept these documents sealed and if it fuels conspiracy theories.
Historians have responded to statements made by Boris Tadić, questioning the historical alignment and movements of Chetnik and Ustaše forces during World War II. The debate centers on their alleged cooperation and shared retreat paths.
Recent events include the discovery of a World War II shell in Thessaloniki's port and over a ton of unexploded ordnance in a forest, alongside the resolution of a family mystery about a Soviet POW. Historians are also discussing how a lack of reckoning with Soviet crimes contributed to Russia's war against Ukraine and how Germany mistakenly equated all Soviet WWII victims with Russia.
Political scientists and historians note the intensely prime ministerial system of governance in post-junta Greece, particularly since the 1986 constitutional revision.
After years of efforts by historians, the Swiss intelligence service has granted access to the dossier on Nazi doctor and war criminal Josef Mengele held in the Swiss Federal Archives.
A discussion explores critical perspectives on the Constitution of May 3rd, suggesting that many historians subtly avoid evaluating its negative consequences.
Krste Crvenkovski continues to be a subject of debate among historians and political circles, with concerns raised that a significant portion of the population, especially those born after 1990, are unaware of his identity and advocacy during socialism.
The Trump administration is arguing that a decades-old law mandating the preservation of presidential records is unconstitutional, prompting warnings from historians about the potential destruction of important documents.
African historians present a stark report on the state of post-colonial universities, highlighting issues such as strikes, corruption, and underfunding, identifying the state as the primary obstacle to academic freedom.
A scientific conference of historians in April 2025 will reflect on the St. Nedelya Church attack in Sofia, one of the deadliest in history, a century after the event.
An article highlights an "untold story" from Montenegrin historiography, noting that while much was known about a particular event, little serious scientific work has been written on the topic by Montenegrin historians.
A century-old mystery may soon be solved as archaeologists and historians believe they have found significant evidence suggesting the remains of Vytautas the Great could be found this year.
A new book by historians Gilles Postel-Vinay and Jean-Laurent Rosenthal, focusing on private wealth accumulation in the French capital, suggests that working-class youth are disproportionately funding the pensions of wealthy, elderly Parisians.
A historical article discusses the atrocities of slavery and the many global powers involved, with most historians dating the start of the transatlantic slave trade to 1500 with Portuguese traders.
Latino leaders and historians are grappling with the tarnished legacy of famed labor leader Cesar Chavez following explosive allegations of sexual abuse, as supporters and residents in his hometown of Delano question how to address his past.
Ukraine and Poland are set to host a conference for historians from May 6–8, providing a professional forum to discuss complex chapters of their shared history, foster dialogue, and strengthen bilateral partnership.
A new investigation reveals that Victorian historians misinterpreted ancient chronicles, debunking the long-held belief about the largest march in England's history.
King Harold’s legendary 200-mile march across England to the Battle of Hastings in 1066 is a “myth” that likely never happened, according to research published on Saturday.
In arguably the most…
Savotta, a family-owned equipment workshop in Central Finland, secured its largest deal in history, a 37 million euro order to equip the Finnish army with high-tech gear, having started with leather mittens.
Historians have restored the monastery library in Votice. They will ceremonially open it on Wednesday afternoon. Volumes from it disappeared 75 years ago.
Nissan has introduced its new all-electric Micra, described as agile to drive despite a cramped back seat. The company hopes the vehicle will address a gap in the automotive market.
Historians, politicians, and influential thinkers are debating the state of the world, with a specific focus on Russia, at Schloss Elmau in Southern Bavaria.
Historians, politicians, and influential thinkers gathered at Schloss Elmau in Southern Bavaria to debate the state of the world and present theses on Europe's future.
Historians Fusi and García Cárcel are defending themselves against accusations that they used artificial intelligence to write their book 'Vidas españolas', after a critic attributed a disproportionate number of errors to Wikipedia and other AI sources.
Panics, Politics, & Power: America's 3 Experiments With Central Banks
Authored by Andrew Moran via The Epoch Times,
The Federal Reserve, established more than a century ago, is the United States’ third experiment with central banking.
For much of its existence, the institution maintained a low public profile.
Only after the 2008 global financial crisis did the Fed begin communicating more openly, introducing post-meeting press conferences and allowing monetary policymakers to engage more frequently with the media.
Greater transparency, however, has brought greater scrutiny.
Public sentiment toward the Fed and its leadership has fluctuated over the years. Today, YouGov polling suggests the central bank is viewed favorably by 44 percent of Americans and unfavorably by 18 percent.
If the Fed pursues a series of reforms, it will have “another great 100 years,” said Kevin Warsh, who was nominated by President Donald Trump to serve as the institution’s next chair.
Comparable to past central banks, Warsh said, the current Federal Reserve System is beginning to lose the consent of the governed.
“You can think about the Jacksonians of prior times say that the central bank seems like they’re trying to focus and they’re all preoccupied with those special interests on the East Coast, and they’ve lost track of what’s happening to us in the center of the country,” Warsh said in a July 2025 interview with the Hoover Institution’s Peter Robinson.
“It’s a version of what worries me today.”
What happened in the past, and why is it relevant to today’s central bank?
The First Bank of the United States
In the aftermath of the American Revolution, the United States faced a series of immense economic disruptions, forcing the nation’s architects to rebuild the economy.
The objective was to lower inflation, restore the value of the nation’s currency, repay war debt, and revive the economy.
Alexander Hamilton, the first secretary of the Treasury under the new Constitution, proposed establishing a national bank modeled on the Bank of England. Hamilton stated that a U.S. version would perform various duties, including issuing paper money, serving as the government’s fiscal agent, and protecting public funds.
Not everyone shared Hamilton’s ebullience over a central bank.
Thomas Jefferson, for example, feared that such an institution would not serve the nation’s best interests. Additionally, Jefferson and other critics argued that the Constitution did not grant the government the authority to create these entities.
Nevertheless, Congress enacted legislation to establish the Bank of the United States. President George Washington then signed the bill in February 1791.
Two of America's founding fathers: Thomas Jefferson (L) and Alexander Hamilton. The White House
While bank officials did not conduct monetary policy as modern central banks do, they did influence the supply of money and credit, as well as interest rates.
The entity managed the money supply by controlling when to redeem or retain state‑bank notes. If it sought to tighten credit, it would require payment in gold or silver, thereby draining state banks’ reserves and limiting their ability to issue new notes. If it wanted to expand credit, it simply held on to those notes, boosting state‑bank reserves and enabling them to lend more.
By 1811, the national bank’s charter expired.
While there had been discussions of allowing it to continue maintaining operations, Congress—both chambers—voted against renewing its mandate by a single vote.
Its closure came shortly before the War of 1812, which fueled inflation and weakened the currency.
Second Bank of the United States
Lawmakers believed another central bank was critical at a time of fiscal, inflationary, and trade pressures.
Congress used a similar 20-year model to produce the Second Bank of the United States, headed by Nicholas Biddle. The second incarnation had a federal charter, was privately owned, and was tasked with regulating state banks (with gold and silver for note redemption).
President James Madison, who opposed the first central bank on constitutional grounds, supported the new institution out of financial necessity.
Its creation stabilized credit and brought down inflation. However, by the 1830s, the bank faced strong opposition, particularly from President Andrew Jackson.
Labeled the Bank War, Jackson engaged in a years-long initiative to dissolve the central bank.
Jackson claimed the national bank was a tool for the wealthy eastern elite and a threat to self-government.
“The Jacksonians described themselves as conscious hard-money men who supported the rigid discipline of the gold standard, yet they opposed the newly powerful national Bank because it restrained the expansion of credit and, thus, thwarted robust economic expansion,” author William Greider wrote in “Secrets of the Temple.”
In 1832, Jackson vetoed legislation to recharter the bank four years early, delivering a fiery message that historians say was one of the most important vetoes in the nation’s history.
“It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes. Distinctions in society will always exist under every just government,” Jackson wrote.
“There are no necessary evils in government. Its evils exist only in its abuses. If it would confine itself to equal protection, and, as Heaven does its rains, shower its favors alike on the high and the low, the rich and the poor, it would be an unqualified blessing. In the act before me, there seems to be a wide and unnecessary departure from these just principles.”
The charter expired in 1836, leading to the panic of 1837.
An economic crisis unfolded, leading to bank failures, business bankruptcies, rising unemployment, and contracting credit. While the collapse of the central bank is often considered a leading cause, the British also urged London banks to reduce credit to American merchants, causing a sharp drop in global trade.
As the smoke cleared and dust settled, it was not until the 1840s that the United States embarked on a historic economic recovery, now known as the Free Banking Era.
Banking was decentralized, and finance was largely unregulated. Despite an erratic financial system, the U.S. economy grew rapidly: agricultural production accelerated, railroads were built, and the country expanded westward. Additionally, deflation was paramount throughout most of the economic expansion.
The Federal Reserve System
The panic of 1907 led to the creation of the Federal Reserve System.
Following years of heavy borrowing, speculative commodities investments (mainly copper), and enormous stock market gains, a financial crisis was brewing. The event nearly brought down the U.S. banking system.
J.P. Morgan, a financier, intervened and emulated the actions of modern central banks. He met with the nation’s top bankers, facilitated emergency loans to financial institutions, and backed stockbrokers. The damage had been done as the United States fell into a year-long recession, marked by high unemployment and widespread bank failures.
The Federal Reserve Board of Governors seal in Washington on Oct. 29, 2025. Madalina Kilroy/The Epoch Times
Washington realized that it could not rely on private bailouts to prevent sharp downturns.
Sen. Nelson Aldrich (R-R.I.) is widely regarded as one of the chief architects of the modern Federal Reserve System.
In 1910, Aldrich hosted the famous Jekyll Island meetings, a gathering of U.S. officials and bankers, to discuss the blueprint of a new central bank.
While the initial draft laid the foundation for the institution, the official Federal Reserve Act was drafted by President Woodrow Wilson, Rep. Carter Glass (D-Va.), and H. Parker Willis, an economist on the House Banking Committee.
The new system was a public-private hybrid, with the federal government firmly in charge, and bankers running the regional reserve banks.
“It was Wilson’s great compromise,” wrote Greider, “creating a hybrid institution that mixed private and public control, an approach without precedent at the time.”
The legislation triggered a contentious political debate over the extent of its independence from the Treasury and the degree of authority delegated to policymakers over currency issuance.
Days before Christmas, the bill cleared both chambers and was signed into law by Wilson on Dec. 23.
“Wilson’s conviction that he had struck the right moderate balance seemed confirmed, however, by the reactions to his legislation,” Greider noted.
“It was attacked by both extremes—the ‘radicals’ from the Populist states and the bankers in Wall Street and elsewhere.”
Since its inception in 1913, the modern Federal Reserve has undergone numerous changes and has gained greater power.
The New Deal, for instance, allowed the Fed to become the lender of last resort as Washington learned the central bank could not prevent bank failures.
In 1951, the Treasury-Fed Accord restored central bank independence after the Federal Reserve had been forced to keep interest rates artificially low throughout the Second World War.
Congress then enacted the Federal Reserve Reform Act in 1977, establishing the dual mandate of promoting maximum employment and maintaining price stability.
2026 and Beyond
Over the past 50 years, the Fed has undergone modest changes, including the issuance of forward guidance and the disclosure of emergency lending facilities.
But while each new regime has nibbled around the edges, Warsh has suggested he could effect substantial reforms at the central bank.
“Until there’s regime change at the Fed and new people running the Fed, a new operating framework, they’re stuck with their old mistakes,” Warsh told Fox Business Network in October 2025.
“Bygones aren’t just bygones.”
Tyler Durden
Wed, 02/18/2026 - 16:20
Political historians examine how allegations of genocide historically contributed to the ideological and organizational fracture between Zimbabwe's two major liberation movements.
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Bernard Hoffman/Getty Images
Thanks to the postwar Baby Boom and other factors, families in the '50s began moving to the suburbs.
Levittown in Long Island, New York, is widely recognized as the first modern American suburb.
Each home looked the same — they were all built in the Cape Cod-style and cost around $7,000.
As World War II came to an end, families looked for ways to start over. Emboldened by the GI Bill's provisions for home loans, they moved out of the cities in droves for newly developed suburban communities.
In fact, the suburbs expanded by 47% during the 1950s, according to the Gilder Lehrman Institute of American History.
Levittown in Long Island, New York, was one of the first to introduce the idea of a pre-planned, mass-produced uniform suburban community, The New York Times reported. Families started moving there on October 1, 1947.
Though the community welcomed an influx of families, non-white prospects weren't allowed. Notably, African Americans didn't see the same benefits from the GI Bill, and it would take some years before racial and ethnic minorities broadly shifted to the suburbs.
Here's what it was like to live in America's first modern suburb in the 1950s.
Before the 1950s, people mostly lived in cities to be close to factory jobs.
Historical/Getty Images
At the time, most people lived close to the city center to work in factories, or they lived in rural communities to work on farms, according to economist Jay Zagorsky.
Everything changed in the 1950s when soldiers returned from World War II, sparking the great migration to the suburbs.
Irving Haberman/IH Images/Getty Images
The 1950 Census found that 60% of people lived in cities, while 40% lived in the suburbs.
Thanks to factors like the construction of highways, the development of new neighborhoods from farmland, and even safety in the event of an atomic attack, these percentages would soon shift drastically.
The GI Bill made it easier to afford a new home, prompting this transition from urban to suburban.
Newsday LLC/Getty Images
The GI Bill provided each returning soldier with benefits designed to stimulate economic growth. Each soldier was given a year of unemployment and free tuition to go to college. The military pledged to back all home loans, which allowed veterans to buy houses with little to no down payments.
The Baby Boom started at the same time, causing many families to outgrow their city apartments.
A family of four stands in front of their house in Levittown, NY.
Joseph Scherschel/Getty Images
Shortly after WWII ended, the Baby Boom began. In 1946, 3.4 million babies were born, more than ever before, and 20% more than in 1945, per History.com. This trend continued into the '50s.
By the end of the boom in 1964, this generation made up 40% of the country's population.
Most historians think it was because Americans were eager to have families after having postponed marriage and childbirth because of the Great Depression and World War II.
Whatever the reason, people flocked to the suburbs to accommodate their growing families.
In response to this growing need for space, suburban communities popped up at a faster rate in the '50s.
An aerial view of a suburban community.
Hulton Archive/Getty Images
During the war, factories focused on creating wartime essentials, like airplanes and barracks. In the '50s, they refocused their efforts on building home components and automobiles using the new practices — like the assembly line — they implemented in the war,
As a result, factories were able to produce materials for homes faster than ever before.
Levittown in Long Island, New York, is widely recognized as the first modern American suburb.
Tony Linck/Getty Images
Levitt and Sons, a construction company, purchased a 7-square-mile plot of potato and onion farms in Long Island in 1947. They set out to build one of the first uniform suburban communities in the US.
The community grew fast. In fact, a house was built every 16 minutes in Levittown.
Tony Linck/Getty Images
To construct the new community, which sits about 30 miles east of Manhattan, Levitt and Sons hired mostly unskilled workers to build the homes. They gave each a specific skill and created a sort of human assembly line. William Levitt even called his firm "the General Motors of the housing industry," The Guardian reported.
The Levitts eventually constructed 17,447 houses between 1947 and 1951. During the peak of the construction boom, one was built every 16 minutes.
People flocked to home sale events to get themselves a slice of suburbia.
Al Fenn/Getty Images
The first homes in Levittown cost new residents around $7,000, The Guardian reported. For veterans, there was no down payment.
When adjusting for inflation, a Levittown home in 1950 would be roughly $97,000 in today's money.
Every house in Levittown was identical. The Levitt family called it "the best house in the US."
Joseph Scherschel/Getty Images
At first, all the homes were built in the same style, and some residents even admitted to walking into the wrong house at times because they couldn't tell them apart, according to Khan Academy, citing Kenneth T. Jackson's "Crabgrass Frontier: The Suburbanization of the United States."
The picturesque community was lined with greenery. In fact, a tree was planted every 28 feet in Levittown.
Newsday LLC/Getty Images
Each home in Levittown sat on a 6,000-square-foot lot, The New York Times reported.
Outdoor spaces, like backyards, became focal points.
Robert W. Kelley/Getty Images
With the growing number of children, outdoor spaces became increasingly important to the suburban neighborhood.
Inside each home, there were four rooms, a built-in TV set, and Hi-Fi for the radio.
Joseph Scherschel/Getty Images
At first, they were modest homes, but most families saw their new suburban lives as luxurious.
Most Levittown residents experienced the responsibilities of owning a home for the first time.
A man and a woman clean opposite sides of a window. Many homeowners experienced the responsibilities of owning a home for the first time.
Newsday LLC/Newsday via Getty Images
Many Levittown homeowners learned homeownership responsibilities, such as tending to a lawn.
The suburb helped cement the idea of the "nuclear family" in American culture.
The community prided itself on neighborhood amenities, like this mobile public library.
Joseph Scherschel/Getty Images
There were also swimming pools that children could use during the summer.
Levittown also had seven shopping centers.
Underwood Archives/Getty Images
The shopping centers were called "village greens" and were designed to make the town more of a bustling community, per Encyclopedia.com.
The suburbs were also known for being a safe alternative to the gritty city streets.
Joseph Scherschel/Getty Images
Since the streets in the suburban neighborhood were considered safer than those in the city, parents used to allow children to bike around by themselves, per the National Center for Safe Routes to School.
Levittown was also known as a cheaper option compared to an apartment in the city.
Bernard Hoffman/Getty Images
The mortgage on a home in Levittown was reportedly about $29 per month, while most paid $90 per month in the city.
By comparison, the average rent in New York City in 2026 is just under $3,500, according to Zillow. The monthly cost of a 30-year mortgage on a Levittown home today would be roughly $2,000.
With all the amenities and perks, the community grew rapidly. In less than a decade, the population of Levittown reached 82,000.
Bettmann/Getty Images
The community has over 17,000 homes, making it one of the largest private housing projects in the history of the US.
As a result, Levittown became a model for other suburban communities in the US during the 1950s.
A suburban community in the 1950s.
Joseph Scherschel/Getty Images
Suburban home construction boomed in the 1950s. In fact, at least 15 million units were under construction by the end of the decade, according to the Wealth Management Group.
Although suburban communities boomed in the '50s, the shift was reserved for white Americans.
Joseph Scherschel/Getty Images
For years, there were rules that restricted minorities from buying homes in Levittown, and even as the Civil Rights Movement was starting to take form and the rest of the country began integrating after Brown v Board of Education in 1954, Levittown remained mostly white.
Two-thirds of Levittown residents today are white, according US Census estimates.
Some of the few non-white families resisted this standard.
Some non-white residents like William Cotter and his family fought against Levittown's whites-only standard.
Newsday LLC/Newsday RM via Getty Images
In 1952, William Cotter, a Black man, and his family, sublet a home at 26 Butternut Lane. When the lease was up, Levitt refused to renew it or sell them the home.
The refusal sparked support for the Cotters, and the family eventually purchased another home from a white homeowner.
With modern highways leading to the suburbs, men commuted into the city.
New highways leading to the suburbs didn't come without traffic.
Newsday LLC/Newsday via Getty Images
The suburban boom corresponded with the expansion of interstate highways in the US, starting the modern iteration of the commute from the suburbs to the city.
In 1950, 80% of men in Levittown commuted to Manhattan for work, The Guardian reported.
During a typical day, the streets of Levittown were filled with women, as the men were mostly working in the city.
Bettmann/Getty Images
When men left to fight in WWII, women began entering the workforce, gaining newfound independence and freedom. However, they were suddenly expected to give this up again and instead focus on childbearing and rearing.
In 1963, author Betty Friedan wrote in "The Feminine Mystique" that the suburbs "were burying women alive." However, some believe that women's dissatisfaction with staying home "contributed to the rebirth of the feminist movement in the 1960s," History.com reported.
Women also got active in civic engagement.
Women and children protest in favor of new stop signs.
Newsday LLC/Newsday RM via Getty Images
In 1959, women of Levittown, with children in hand, protested in favor of putting stop signs in an area with automobile-related deaths.
Levittown became a symbol of prosperity and anticommunism in American politics and culture.
William J. Levitt speaks with three senators.
Bettmann/Bettmann Archive/Getty Images
As American politics increasingly centered on anticommunism and Cold War tensions rose, Levittown and suburbs like it took on a symbolic meaning in American culture, representing prosperity and the "American Dream."
Levitt was once quoted saying, "No man who owns his own house and lot can be a Communist. He has too much to do."
In 2026, Levittown is still a sizable community with a population of about 50,000. Though it's full of modern businesses and technology, the community still holds a legacy as a post-war suburban haven.
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