War

Book Review: The Ascent of Money by Niall Ferguson

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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…

Victory, what is it?

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This question came up for several reasons mainly because of the news out of Afghanistan and Iran plus the book I am currently reading about the Second World War . Victory is an elusive thing because in war defining victory is perhaps the major strategic goal of the belligerents. I suppose that one could take the Clausewitzean the ideal of destroying the enemy’s force or means to fight  as victory but that really isn’t it. As we saw in Iraq the destruction of the enemy army does not necessarily mean that the war is over.   Unless the population of The enemy country, nation, or tribe is convinced that they … More after the Jump…

Europe and Modern War

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Saw an interesting piece awhile ago on the South African Business Day website called: GIDEON RACHMAN: Threat of war seems unreal in an age of peace. The essential point is that although war seems to have been eradicated in Europe, don’t count it out if the Euro crisis gets as bad as it possibly can. I think it is naive in the extreme to think that because there has not been a major war in Europe for the past 65+ years that one cannot happen.   We should keep in mind that it was 49 years between the Congress of Vienna ending the Napoleonic Wars and the Prusso-Danish war of … More after the Jump…