Book Review: The Ascent of Money by Niall Ferguson
Niall Ferguson’s The Ascent of Money: A Financial History of the World, is one of the best economic histories I have read.  It seeks to be a global history of money and does a good job of it.  It is somewhat tilted towards Europe and Western countries but only because that is where the majority of financial innovation has come from, especially in the last 300-400 years.last 400 years. What I found especially interesting were his explanations of the way sophisticated financial instruments actually work.  It often seems as though investment and investing have a language specifically designed to confuse and confound the layman.  Dr. Ferguson’s explanations of derivatives and other financial instruments were understandable … More after the Jump…