Benzinga takes a look back at a notable market-related moment that happened on this date.
In 1935, the Parker Brothers began sales of “Monopoly,” a now-global pastime.
Where Was The Market?
The Dow averaged $103.70 throughout February, while the S&P 500 averaged $8.98.
What Else Was Going On In The World?
The French police arrested 1,261 communists during violent demonstrations, and Frank Capra, Clark Gable and Walt Disney Co DIS were preparing to take home Academy Awards.
The (Innocuous) Monopoly Is Born
Now part of the Hasbro, Inc. HAS portfolio, the “Monopoly” board game is licensed in more than 103 countries, runs in more than 37 languages and exists in dozens of editions.
It’s birthed an entire culture and given rise to world championships, video games, slot machines and lotteries, films and McDonald’s Corporation MCD sweepstakes.
Based on a 1903 economic game protesting monopolies, the Parker Brothers pastime rewards players who buy up property, collect rent and drive rivals to bankruptcy. At the time of its release, it lightened an otherwise doleful concept that stunted competitive ventures, inflated consumer prices and exacerbated dire financial conditions.
Monopolies were formally barred in 1890 with the passing of the Sherman Antitrust Act, and while the federal government still polices potential and emerging giants, some argue of their prevailing threat.
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Photo courtesy of Hasbro.
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