“The Ascent of Money: A Financial History of the World” is a book from author Niall Ferguson. I picked it recently. The book records the journey of money from the ancient times to the current. It starts from the use of Silver or Gold as a symbol of value, it tracks how Banking evolved, how currency was exchanged or how there were some nations that tried to become a moneyless society but failed. It also tells the reader how evolutions in mathematics resulted in the flow of money becoming more and more sophisticated.
Niall Ferguson also discusses poverty and riches at great length. He says it is not the lack of money but lack of strong financial systems and institutions that makes individuals and nations poor. Evolution of Banks, equity market, bonds, insurance etc. has been covered in great detail in the book.
The book is three in one, a good read in economics, history and philosophy. I haven’t finished reading it yet and wish I get a good long vacation or travel so that I can finish it fast. I really enjoy travelling because I get to read then.
Read more about Niall Ferguson here http://www.niallferguson.com/site/FERG/Templates/Home.aspx?pageid=1
More: the book was adapted into a television series on Channel 4.
-Hitendra
