The Ascent of Money: A Financial History of the World

The Ascent of Money: A Financial History of the World

Audio CD(Unabridged, 9 CDs, 11 hrs 30 min.)

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Overview

Bread, cash, dough, loot, moolah, readies, the wherewithal: Call it what you like, it matters. To Christians, love of it is the root of all evil. To generals, it's the sinews of war. To revolutionaries, it's the chains of labor. But in The Ascent of Money, Niall Ferguson shows that finance is, in fact, the foundation of human progress. What's more, he reveals financial history as the essential back story behind all history.

Through Ferguson's expert lens, familiar historical landmarks appear in a new and sharper financial focus. Suddenly, the civilization of the Renaissance looks very different: a boom in the market for art and architecture made possible when Italian bankers adopted Arabic mathematics. The rise of the Dutch republic is reinterpreted as the triumph of the world's first modern bond market over insolvent Habsburg absolutism. And the origins of the French Revolution are traced back to a stock market bubble caused by a convicted Scot murderer.

With the clarity and verve for which he is known, Ferguson elucidates key financial institutions and concepts by showing where they came from. What is money? What do banks do? What's the difference between a stock and a bond? Why buy insurance or real estate? And what exactly does a hedge fund do?

This is history for the present. Ferguson travels to post-Katrina New Orleans to ask why the free market can't provide adequate protection against catastrophe. He also delves into the origins of the subprime mortgage crisis.

Perhaps most important, The Ascent of Money documents how a new financial revolution is propelling the world's biggest countries, India and China, from poverty to wealth in the space of a single generation-an economic transformation unprecedented in human history.

Yet the central lesson of the financial history is that sooner or later every bubble bursts-sooner or later the bearish sellers outnumber the bullish buyers; and sooner or later greed flips into fear. And that is why, whether you're scraping by or rolling in it, there's never been a better time to understand the ascent of money.

Product Details

ISBN-13: 9781400110339
Publisher: Tantor Media, Inc.
Publication date: 12/01/2008
Edition description: Unabridged, 9 CDs, 11 hrs 30 min.
Product dimensions: 5.50(w) x 6.50(h) x 1.10(d)

About the Author

Niall Ferguson is the Laurence A. Tisch Professor of History at Harvard University and the bestselling author of Paper and Iron and The House of Rothschild.

One of AudioFile magazine's Golden Voices, Simon Prebble has received over twenty Earphones Awards and five Listen-Up Awards, and he has been a finalist fourteen times for an Audie Award. In 2006, Publishers Weekly named him Narrator of the Year, and he was named Booklist's 2010 Voice of Choice.

What People are Saying About This

From the Publisher

" 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

Customer Reviews