At 4pm WAT today, during the Nigeria Capital Market masterclass, I will teach on “Market Frictions, Nature and Mission of Companies, Capital, and Capital Markets”, to provide a broad overview of the nature of companies, and the very reason why companies exist. I will connect it to Capital, a vital factor of production, which is the core element enabling the capital market.
More than 600 years ago, the world was severely poor. But there were rich merchants but those feared giving their resources to fund chemists, scientists. So, in the end, the era was simply an invention society, providing the foundational construct of natural philosophy and mathematics but largely failed to advance economic progress. Yes, it was an era without products and services to fix market frictions.
Later, towards the end of the 18th century, some things happened which motivated those merchants to deploy CAPITAL at scale, turning compounds into vaccines, the understanding of gravity into mechanical systems. The world changed and the innovation society era began. Capital made that possible because capital could then go to work.
A few years ago, I visited the building of the Amsterdam exchange (now part of Euronext Amsterdam), originally established in 1602, to trade shares in the Dutch East India Company. That exchange allowed everyday citizens, not just wealthy merchants, to participate in economic growth. By enabling people to become owners of companies rather than just spectators, the market created wealth and long-term security. Of course, the capital market has evolved with the likes of NASDAQ, NGX, NYSE and our soon coming ContiSX advancing the construct of exchanging prosperity.
Before we go deep into the Nigerian capital market, this Week 0 will provide the evolution of the capital market and the acceleration of capital to drive the era of innovation and recently acceleration, and the core reason why markets exist.
Zoom link here https://school.tekedia.com/course/market/
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