![]() He delves into the origins of the subprime mortgage crisis. Ferguson travels to post-Katrina New Orleans to ask why the free market can’t provide adequate protection against catastrophe. 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. With the clarity and verve for which he is known, Ferguson elucidates key financial institutions and concepts by showing where they came from. ![]() What’s more, he reveals financial history as the essential backstory behind all history. But in The Ascent of Money, Niall Ferguson shows that finance is in fact the foundation of human progress. ![]() To revolutionaries, it’s the chains of labor. Two months after Lehman Brothers 2008 collapse, Niall Ferguson published his international bestseller, The Ascent of Money: A Financial History of the. To Christians, love of it is the root of all evil. Bread, cash, dosh, dough, loot, lucre, moolah, readies, the wherewithal: Call it what you like, it matters. ![]() Niall Ferguson follows the money to tell the human story behind the evolution of finance, from its origins in ancient Mesopotamia to the latest upheavals on what he calls Planet Finance. ![]()
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