To Amsterdam! Canals, Capitalism, and a Dash of Tulip Madness
“The meaning of life is to find your gift. The purpose of life is to give it away.”
— Pablo Picasso
For what it is worth, life is about exploring and expanding your curiosities, to achieve the being you are supposed to be, not purely for your own but for the servitude of society, for the betterment of someone other than yourself.
To Amsterdam, Netherlands!
Amsterdam is often celebrated for its stunning tulips, picturesque canals, vibrant art culture, and infamous red-light district. Yet, unbeknownst to most people, this city holds a legacy that shaped our world today. This city revolutionized the world of trade by creating a system where individuals with an appetite for risk and future rewards could pool their money to fund enterprises, which was done in a specified market area. Today we call this the stock exchange.
When I visited Amsterdam in December 2024, it wasn’t to tick off the usual tourist hotspots. I’m not the kind of traveler who’s after checklists or trends. Instead, I travel to expand and explore my interests and curiosities to add experience and knowledge to enrich my storytelling.
As Zora Neal Hurston aptly said, “A writer needs knowledge of the world”. This knowledge, gained through exploration and observation, is what writers pass on to their audience through their work.
So, my main business as I set foot in this historical city is to explore the places where equity capitalism first took root. From the city’s oldest building, Oude Kerk, to the former headquarters of the Dutch East India Company, and finally to the world’s oldest still-operating stock exchange, I wanted to walk through the remnants of this fascinating financial history.
Join me as I take you through Amsterdam’s legacy as the birthplace of equity capitalism, uncovering the stories behind its historic landmarks and the lasting impact they’ve had on the modern world.
🗒️ Note: This itinerary is inspired by my February 2023 blog post, “The Tulip Mania: How a Flower Caused a Financial Tragedy.” For a deeper dive into the fascinating stories behind the locations I’ve visited, I encourage you to check out that blog for a more detailed account.
Below is an image of the landmarks I’ve visited.
Click on this link to access my Google Map Data of My Amsterdam Financial Tour
First Stop! The Amsterdam Stock Exchange—The World’s First, The Oldest, and Still Standing
The Amsterdam stock exchange today gives the perception of money and wealth but underneath all of it is an origin story of the Dutch hardship and suffering. It is built on war, oppression, and the iron will of a people who refused to surrender. It became a tool, a weapon even, that helped the Dutch claw back lands taken from them by the Spanish Empire during the brutal Eighty Years’ War.
Founded in 1606, this exchange gave merchants the means to fund sea trade—the very lifeblood of the Dutch economy. But when Spain blocked their trade routes, the Dutch didn’t crumble. They adapted. They created what would become the greatest company the world has ever known: The Vereenigde Oostindische Compagnie (VOC), commonly known as the Dutch East India Company.
VOC would dominate oceans, lands, and trade routes, wielding a military force that could stand against the mighty British and Spanish fleets. And at the heart of it all? Capital, raised through the Amsterdam Stock Exchange.
Today, it is part of the Euronext exchange. It may not be the most dominant anymore, but its influence is eternal. This exchange reshaped the financial world and gave rise to something profound: the chance for ordinary people—people like you and me—to share in the wealth of nations. Yes, you and I—the working-class individuals who can now build wealth without having to trade our physical labour for money.
A marketplace. A revolution. A legacy carved into history.
Bursplein 5 is located in the Nieuwmarkt area of Amsterdam, near the heart of the city center. The name Bursplein roughly translates to “Exchange Square” or “Market Square.” Bursplein itself is a small square, and Bursplein 5 is a specific address within this vibrant neighbourhood. The stock exchange operation has moved buildings several times since its inception from Dam Square, where the Royal Palace is situated, to today’s Bursplein 5.
If you’re wondering whether there are Bursplein 1, 2, 3, or 4, you’re not alone in asking. I had the same question myself. The answer is no—there are none.
The Amsterdam Stock Exchange is not open to the public but it has an exchange experience for a 75 to 90-minute educational group tour of the exchange building at Beursplein 5. For more information, you can check the link provided below.
https://www.euronext.com/en/markets/amsterdam/amsterdam-exchange-experience
I haven’t had the chance to experience this yet because it’s dear. The cost is €150 for groups of up to 25 people, so if I were to go alone, I’d have to pay the full €150 myself. Maybe next time, I’ll still need to gather 24 more people to share the cost. 😂
Below are images of the historic stock exchange building and its map location.
Second Stop! The Former Headquarters of The Dutch East India Company
“In 1602, with the blessing of the Dutch government and its prime minister, Johan van Oldenbarnevelt, the various expedition companies were united into a single company that held supreme power. Verenigde Oostindische Compagnie (VOC), also known as the Dutch East India Company was born. It is the most renowned global company of its time and in history.”
The Oost-Indisch Huis (East India House) is located in the Oude Waal area of Amsterdam, near the eastern part of the city centre. This historic building once served as the headquarters for the Dutch East India Company (VOC), one of the most influential and powerful trading companies in history. Today, the Oost-Indisch Huis is part of the University of Amsterdam and is primarily used for academic purposes, though it remains an important symbol of Amsterdam’s maritime and colonial legacy.
From the image above, I was able to capture a photo of one of the four entrances to the building from the courtyard, where the letters “VOC” are etched at the top of the door. You can set foot into the Oost-Indisch Huis’ peaceful courtyard. There are no fees required for access, as long as visitors show respect and maintain quietness in the courtyard. The entrance to its historic courtyard is located on Oude Hoogstraat Street.
Below are images of the Oost-Indisch Huis building, its courtyard, and its map location.
Third Stop! Step Back in Time at Amsterdam’s Oldest Pub: Café Karpershoek
Feeling tired and in need of a pint of beer? What better place to unwind than the oldest pub in Amsterdam, one of the pubs where sailors of the VOC once gathered, sharing laughs, drinks, stories, and perhaps even a few pub fights? To give you a better idea of what to expect, here’s a glimpse straight from their website.
“Café Karpershoek is the oldest pub in Amsterdam. In 1606 the Karpershoek started as a guest house for the crew of the ships of the Dutch East-Indian Company (VOC). Today, it is an authentic Amsterdam pub, well visited by both tourists and regulars, enjoying the typical Amsterdam atmosphere and the pints of lovely Heineken beer.
The harbor disappeared, but Café Karpershoek remained mostly unchanged. The walls are still covered with old sayings and wisdom, mixed with detailed wood carving and a colorful collection of pictures and paintings. When visiting Café Karpershoek, note the thin layer of sand on the floor. In earlier times visitors of the pub liked to use chewing tobacco. After chewing this sticky stuff, the tobacco was spat on the ground. Because of the sand on the floor, it was easy to clean. Nowadays, almost no one uses chewing tobacco, but the sand remains as a sign that Café Karpershoek withstood the test of time.”
Café Karpershoek is located in the heart of Amsterdam’s city centre, specifically at Nieuwmarkt 33, directly south of Amsterdam’s Grand Central Station.
I can’t help but wonder if this historic tavern might have been one of the spots where Dutch traders gathered during the height of the tulip mania, exchanging tulip bulbs amidst the frenzy of the tulip bubble.
Below are images of Café Karpershoek’s interior, the menu we experienced during our visit in December 2024, and one of the many historical images related to the café, along with its map location.
Fourth Stop! Oude Kirk “Old Church”
The Oude Kerk, or “Old Church,” proudly holds the distinction of being Amsterdam’s oldest building, with its origins tracing back to around 1213. It was officially consecrated in 1306 by the Bishop of Utrecht and dedicated to Saint Nicholas, the patron saint of sailors and the city itself. Following the Reformation in 1578, this historic church underwent a transformation, shifting from a Roman Catholic place of worship to a Calvinist church—a role it continues to serve to this day.
Now, you might be wondering: What does a church have to do with financial history? Well, the connection lies in the deeply rooted principles of Calvinism. Calvinists uphold five central tenets: total depravity, unconditional election, limited atonement, irresistibility of grace, and perseverance of the saints. Among these principles, there was a particularly strong belief that displaying one’s wealth through material extravagance was nothing short of blasphemy against God.
In our modern, consumer-driven world, the idea of deliberately avoiding material displays of wealth (flexing) might seem unfathomable to most people. But for the Dutch of that time, this ethos wasn’t just a religious principle—it became a defining aspect of their culture. Instead of flaunting their riches through extravagant possessions, Calvinists channelled their wealth into meaningful and productive pursuits, such as art, trade, and yes, gardening. This restrained yet refined mindset helped cultivate the Dutch love for gardening.
But then came the twist in this modest tale, a flower that would expose the inherent greed, speculation, and exuberance of people: the tulip.
Note: Located in the heart of De Wallen, Amsterdam’s renowned red-light district. Today, Oude Kirk holds Calvinist mass every Sunday. It also offers a permanent exhibit on its history and Amsterdam’s cultural evolution, alongside its stunning Gothic architecture. Its opening hours and prices as of December 2024 are as follows:
- Opening hours Monday to Saturday: 10:00 – 18:00 Sunday: 13:00 – 17:30
- Adult: € 13.50, Student or 13-17 years: € 7, Child 6-12: € 3.50, Child 1-5: Free.
For more information see their webpage provided below.
https://oudekerk.nl/en/about-the-oude-kerk
Fifth Stop! The Tulip Museum — A Blooming History
It’s well known in the financial world that the first recorded financial mania occurred in Amsterdam, where a stunning flower from Asia sparked speculation so intense that the price of a single tulip could fetch a house along the most exclusive canals of the time. However, like all speculative bubbles, it eventually came crashing down when people realized that as beautiful as the tulip was, it wasn’t worth the inflated prices. At the Tulip Museum, you’ll not only explore the fascinating history of tulips but also gain a deeper understanding of their biology and how they continue to shape the Netherlands today.
The museum is located in the vibrant Jordaan neighbourhood of Amsterdam. For more details on opening times and ticket prices, please visit the link provided.
https://amsterdamtulipmuseum.com/pages/contact-us-1
I’ve written a detailed blog about this financial mania and its impact on history. If you’re interested in learning more, check out the full article here:
Sixth Stop! The Infamous Rijksmuseum: A Journey Through Dutch Art and History
The Rijksmuseum is the farthest stop on my Amsterdam Financial Tour, located 2.5 km from Amsterdam Central Station. It takes approximately 45 minutes on foot or 12 minutes by tram to reach the museum.
The Night Watch
The only reason I came here was to witness the masterpieces of the greatest painter of the Dutch Golden Age, Rembrandt Harmenszoon van Rijn, or simply, Rembrandt. This was the era of the world’s first stock exchange and the rise of the mighty VOC, a time when the Dutch Republic flourished.
Rembrandt, with his incredible legacy of 300 paintings, 300 etchings, and over 2,000 drawings, captured the spirit, lives, and resilience of this golden era, earning him the rightful title of the Dutch Golden Age Painter.
Among his many masterpieces, ‘The Night Watch’ stands as his crowning glory. This awe-inspiring oil painting, completed in 1642, was originally titled Militia Company of District II under the Command of Captain Frans Banninck Cocq. The nickname “Night Watch” came much later, in 1797. It was named as such because it was coated with a dark varnish and accumulated dirt over time, giving the impression that it depicts a night scene.
To better describe this extraordinary work, here’s how the Rijksmuseum explains it:
“Rembrandt’s largest and most famous painting was made for one of the three headquarters of Amsterdam’s civic guard. These groups of civilian soldiers defended the city from attack. Rembrandt was the first to paint all of the figures in a civic guard piece in action. The captain, dressed in black, gives the order to march out. The guardsmen are getting into formation. Rembrandt used the light to focus on particular details, like the captain’s gesturing hand and the young girl in the foreground. She was the company mascot. The nickname Night Watch originated much later, when the painting was thought to represent a nocturnal scene.”
When I visited, the painting was undergoing maintenance, encased in a glass room as experts worked meticulously on its restoration. The metal platform in the photo above, on the left-hand side, is part of the setup for this preservation work. The image above, on the right-hand side? It’s only an imitation of the original—though nothing compares to standing before the real masterpiece and bathing in its magnificence.
Verenigde Oostindische Compagnie (VOC) Overseas
The other reason I found myself wandering through the Rijksmuseum was to marvel at the artifacts and paintings from the once-mighty Dutch East India Company. Inside the museum lies a portion of a room dedicated to the overseas expeditions and conquests of the VOC—a segment of history both glorious and grim. At its entrance stands a description of what lies within.
Like many empires of the imperial age, the Dutch pursued wealth through inhumane acts, including the trade of enslaved people—one of their many revenue streams. To the left of the room’s entrance hangs the coats of arms of the VOC and Batavia. The accompanying description reads:
“The Arms of the Dutch East India Company and of the Town of Batavia Jeronimus Bec (active c. 1649-1658) oil on panel, 1651″
These shields feature the arms of the Dutch East India Company, ornamented with Neptune and a mermaid, and those of Batavia, flanked by Dutch lions. According to the inscription on the latter, the city of Jacatra (now Jakarta) was ‘Conquered on 30 May in the year 1619’. That same year Governor-General Jan Pietersz Coen renamed it Batavia and built a castle with dockyards, warehouses and offices. “
As you step further inside, you’re surrounded by artwork depicting the VOC’s voyages. But the largest of it all is an imposing oil painting titled “The Trading Post of the Dutch East India Company in Hooghly, Bengal.”
Its accompanying description reads:
“There is much activity in and around the fort at the trading post in Hougly, Bengal (northeast India): ships of the Dutch East India Company (VOC) sail along the Ganges River, the director visits an Indian ruler and enslaved people are at work. In the 17th century Bengal was one of the places where the VOC and its employees bought the most people. They transported them to other VOC trading posts around the Indian Ocean.”
The Dutch inscription on the right lower portion of the oil canvas translates to: “Depiction of the United Dutch East India Company, or the main trading post in Bengal, in the city of Hooghly, Year 1665.”
This painting is a window into the tangled legacy of the VOC. It captures a bustling centre of commerce built on exploitation, conquest, and resilience. Below, I’ve included a photograph of the painting and the museum’s explanation of the events it depicts.
The Rijksmuseum is located in the Museumplein area of Amsterdam. Please visit the link provided below for more details on opening times and ticket prices.
https://www.rijksmuseum.nl/en/visit
Seventh Stop! The Golden Bend Where the Wealthy Lived
In the late 16th and early 17th centuries, Amsterdam was booming. People came from everywhere, drawn by its growing economy and the promise of a better life. But with so many new residents, the city had a big problem—where would they all live? The answer was the creation of Amsterdam’s famous canals, a project that would shape the city forever.
Three canals—Herengracht, Keizersgracht, and Prinsengracht—were dug in a ring around the old city center. Plots of land along the canals were carefully planned, each just 9 meters (30 feet) wide and 54 meters (190 feet) deep, with part of the space reserved for gardens. To raise money for the city, houses were taxed based on their width. This clever idea encouraged homeowners to build tall, narrow houses that are now iconic to Amsterdam.
As the population kept growing, the city expanded. By the 17th century, the canals stretched further, and larger plots were made for wealthier residents. One part of Herengracht, known as the “Golden Bend,” became home to the richest and most powerful people in Amsterdam. These grand houses had wide fronts, deep gardens, and beautiful interiors. The people who lived here were often leaders of the city and important figures in trade and politics, including directors of the Dutch East India Company.
A unique feature of all these canal houses is the double staircase leading to the main entrance. Beneath the stairs, there’s usually a smaller door for servants, showing the strict divide between the wealthy homeowners and the workers who served them. See the photograph I’ve taken on the right.
Today, these historic canal houses still stand, but many have been turned into apartments, offices, or museums. They remain a symbol of Amsterdam’s Golden Age and the wealth and ambition of the people who built them. Walking along the canals today, you can still feel the history in the air, a reminder of a time when Amsterdam was at the centre of the world.
To Sum It Up
My trip to Amsterdam, Netherlands, is more than just sightseeing—it’s a journey into the roots of capitalism, inspired by my blog titled “The Tulip Mania: How a Flower Caused a Financial Tragedy.” This journey is about seeing for myself how the seeds of modern finance were sown long before Adam Smith, the father of modern economics, ever penned his theories on capitalism.
I never imagined being so drawn to the world of finance and investing that it would lead me to travel to a different country. It all began with a simple push from my father, encouraging me to start investing. What began as a small step turned into a fascination—an eagerness to understand how the past shaped the financial world we live in today. Time and again, history holds the answers we’re searching for, often etched into moments from centuries ago.
The tulip mania of the early 17th century is a perfect example. That event, when the value of tulip bulbs soared to extraordinary heights and then crashed, mirrors the excitement and irrational decisions that have repeated throughout history. While technology and the way we live have advanced, human emotions—greed, fear, and hope—remain the same.
The Dutch East India Company (VOC) and the creation of the stock market paved the way for the growth of the world’s largest companies. More importantly, they gave ordinary people like us a chance to share in the wealth these companies generate.
Today, we’re living in a world shaped by more than 420 years of equity capitalism. This system has survived wars, pandemics, and economic crises, proving its resilience time and time again. Thanks to globalization, markets are more connected than ever, making it possible for anyone, anywhere, to be part of this system of wealth creation.
Investing is no longer just for the elite—it’s for everyone. By investing and staying invested, you’re not just growing your money; you’re aligning it with a nation’s or even the world’s progress. Let your money grow alongside the wealth being created every day.
✨ Start small, stay consistent, and let history guide you toward achieving your financial goals. The past is not just a story; it’s a map for the future.
🚀 To kickstart your investment journey and build a strong foundation of knowledge, check out my book, ‘Zero to Hero—The Rookie Investor’s Manifesto: Building Your Wealth From The Ground Up Through Stock Market Investing’.
📖 It’s available for purchase on Amazon: https://amzn.eu/d/arCN4rz.
This blog is for informational purposes only and not a Financial Recommendation. Not all information will be accurate. Consult an independent financial professional before making any major financial decisions.
0 Comments