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The Ascent of Money: A Financial History of the World: 10th Anniversary Edition
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The Ascent of Money: A Financial History of the World: 10th Anniversary Edition Paperback - 2009

by Niall Ferguson

Ferguson tells the human story behind the evolution of money, from its origins in ancient Mesopotamia to the latest Wall Street upheavals. The author shows that finance is, in fact, the foundation of human progress.


Summary

A richly original look at the origins of money and how it makes the world go ?round

Niall Ferguson follows the money to tell the human story behind the evolution of our financial system, from its genesis in ancient Mesopotamia to the latest upheavals on what he calls Planet Finance. What?s more, Ferguson reveals financial history as the essential backstory behind all history, arguing that the evolution of credit and debt was as important as any technological innovation in the rise of civilization. As Ferguson traces the crisis from ancient Egypt?s Memphis to today?s Chongqing, he offers bold and compelling new insights into the rise? and fall?of not just money but Western power as well.

From the publisher

The 10th anniversary edition, with new chapters on the crash, Chimerica, and cryptocurrency "[An] excellent, just in time guide to the history of finance and financial crisis." --The Washington Post

"Fascinating." --Fareed Zakaria, Newsweek

In this updated edition, Niall Ferguson brings his classic financial history of the world up to the present day, tackling the populist backlash that followed the 2008 crisis, the descent of "Chimerica" into a trade war, and the advent of cryptocurrencies, such as Bitcoin, with his signature clarity and expert lens. The Ascent of Money reveals finance as the backbone of history, casting a new light on familiar events: the Renaissance enabled by Italian foreign exchange dealers, the French Revolution traced back to a stock market bubble, the 2008 crisis traced from America's bankruptcy capital, Memphis, to China's boomtown, Chongqing. We may resent the plutocrats of Wall Street but, as Ferguson argues, the evolution of finance has rivaled the importance of any technological innovation in the rise of civilization. Indeed, to study the ascent and descent of money is to study the rise and fall of Western power itself.

Details

  • Title The Ascent of Money: A Financial History of the World: 10th Anniversary Edition
  • Author Niall Ferguson
  • Binding Paperback
  • Edition [ Edition: first
  • Pages 496
  • Volumes 1
  • Language ENG
  • Publisher Penguin Books, New York,
  • Date 2009-10-01
  • Illustrated Yes
  • ISBN 9780143116172 / 0143116177
  • Weight 0.95 lbs (0.43 kg)
  • Dimensions 8.4 x 5.5 x 1.2 in (21.34 x 13.97 x 3.05 cm)
  • Ages 18 to UP years
  • Grade levels 13 - UP
  • Library of Congress subjects Economic history, Economics - History
  • Dewey Decimal Code 332.09

Media reviews

" Before regulators throw block trades, bond swaps, bridge financing, butterfly spreads and Black-Scholes out with the bathwater, they should find time to read Niall Ferguson's The Ascent of Money."
-The Wall Street Journal

"[An] excellent, just in time guide to the history of finance and financial crisis."
-The Washington Post

" Shrewdly anticipates many aspects of the current financial crisis, which has toppled banks, precipitated gigantic government bailouts and upended global markets."
-Michiko Kakutani, The New York Times



Citations

  • New York Times Book Review, 11/29/2009, Page 24
  • Newsweek, 09/21/2009, Page 52

About the author

Niall Ferguson is one of the world's most renowned historians. He is the author of Paper and Iron, The House of Rothschild, The Pity of War, The Cash Nexus, Empire, Colossus, The War of the World, The Ascent of Money, High Financier, Civilization, The Great Degeneration, Kissinger, 1923-1968: The Idealist, and The Square and the Tower. He is Senior Fellow at the Hoover Institution, Stanford University, and a Visiting Professor at Tsinghua University, Beijing. His many awards include the Benjamin Franklin Prize for Public Service (2010), the Hayek Prize for Lifetime Achievement (2012) and the Ludwig Erhard Prize for Economic Journalism (2013).
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