![the ascent of money the ascent of money](https://thumbs.dreamstime.com/z/money-hands-15490930.jpg)
Indeed, to study the ascent and descent of money is to study the rise and fall of Western power itself. 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. 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. But in The Ascent of Money, Niall Ferguson shows that finance is in fact the foundation of human progress. If your bank is paying 1.1 interest on your savings but theres another bank paying 1.6, then it could make sense to make the. In the first episode of the four-hour series, economist and historian Niall Ferguson documents the roots of money and finance in the conquest of the. To revolutionaries, it is the shackles of labour. The evolution of credit and debt was as important as any technological innovation in the rise of civilization, from ancient Babylon to the silver. In fact, figuring out whether it pays to move your money is simple.
![the ascent of money the ascent of money](https://www.stephenhicks.org/wp-content/uploads/2011/07/150xferguson_niall-the_ascent_of_money-image.jpg)
Whats more, he reveals financial history as the essential back-story behind all history. The Ascent of Money was written by famed historian Niall Ferguson, considered one of the most influential people in the world by Times magazine. The 10th anniversary edition, with new chapters on the crash, Chimerica, and cryptocurrency 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. But in The Ascent of Money, Niall Ferguson shows that finance is in fact the foundation of human progress.