Niall Ferguson: The Ascent of Money and the History of Finance
Trader's Library #85 · Market history, crises and scandals. The history of money and finance from one of the best-known historians.
Author: Niall Ferguson · Original: incl. The Ascent of Money; The House of Rothschild; The Cash Nexus; The Great Degeneration · Year: 1998 · Usefulness for traders: ★★★☆☆
What it's about
A dozen or so books by the British historian. For a trader the most important are “The Ascent of Money” (the history of money, credit, bonds, stocks and insurance, which became the documentary series described in the Film Library), the two volumes of “The House of Rothschild” and “The Cash Nexus” on money and power. The others (Empire, Colossus, Civilization, Doom, The Square and the Tower, The Great Degeneration) are political history.
What it gives a trader
“The Ascent of Money” shows that financial markets and crises are as old as civilisation, and that bubbles, panics and bank bailouts have been repeating for centuries. “The House of Rothschild” is the history of the 19th century's greatest banking house and its information edge.
Lessons for traders
- financial crises have been repeating for centuries
- an information edge has always been the basis of making money
- the bond market affects the fate of states and wars
What to watch out for
Ferguson has strong political views. His other books are mainly political history.
On screen
This topic also has a film version: 🎬 Film Library #59 · The Ascent of Money (2008).
Discussion
The discussion takes place in Hetman Capital Club (in Polish). Join the discussion in the Club →
Navigation
← #084 The Bear Book (John Rothchild) · Library index · #086 Michael Lewis: Moneyball, Boomerang, The New New Thing, The Premonition →
Educational content, not investment advice. The book description is my own summary and assessment, not quotations. Edition details were checked in catalogues and bookshops, and where there was doubt I said so plainly.