The Ascent of Money

By Niall Ferguson

Categories: History

The Ascent of Money (2008) is historian Niall Ferguson's history of finance, from the clay tablets of ancient Mesopotamia to the financial crisis of 2008. Ferguson traces the development of credit and banking, bonds, stock markets, insurance and the property market, showing how each innovation spread prosperity and also created bubbles and crashes. He argues that financial history is central to the history of the world and that its lessons help explain modern crises.

Recommended by 2 people

• Max Levchin
• Fareed Zakaria: “It’s terrific. It’s called “The Ascent of Money: A Financial History of the World.” It couldn’t be more timely, but it’s also very illuminating.”