Economics
Central Banking
Quick fact
The world's first central bank, the Swedish Riksbank, was founded in 1668, but the idea of a central bank as a lender of last resort was formalized in the 19th century.
Why this is interesting
You use money every day, but who decides how much money exists and what it's worth? That's the quiet power of central banking—an institution that steers the economy without you ever noticing its hand.