THE ASCENT OF MONEY
A Financial History of the World
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Niall Ferguson—professor of both history and business administration at Harvard University—guides readers through the evolution of money, reinforcing his thesis that "financial history is the backstory of all history."
The worldwide financial crisis that began in mid-2007 sets the stage, as Ferguson looks at money and credit as measures of trust; real estate as a means of propping up a shaky economy; the creation of joint-stock companies and stock market bubbles; the importance of bonds; the origin of derivatives, options, and hedge funds; and the increasing interdependence of the U.S. and Chinese economies.
9 and up