Columbus is the capital and the largest city of the American state of Ohio. Named for the famed explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. The city has a diverse economy based on education, insurance, healthcare, and technology. Acknowledged as the 8th best large city to inhabit in the US by Money Magazine, it is also recognized as an emerging global city.[3][4] Residents of Columbus are usually referred to as Columbusites.[5]