Ferguson, Niall (author)

Nov. 2008. 397p. Penguin, hardcover, $29.95 (9781594201929)

British historian Ferguson follows Empire (2003), his provocative take on British history, and his equally provocative take on the American “empire” in Colossus (2004), with a not so much provocative as fresh look at the history of money and its ramifications on how modern life has evolved, since to him “money is the root of most progress.” One of his basic premises cannot be argued with: most people in the English-speaking world are woefully ignorant of things financial. To that end, Ferguson, in his desire to educate the general public, presents the history of money within these contexts: the rise of money and the history of credit, and the histories of the bond market, the stock market, insurance, the real-estate market, and international finance. There is an ease to his prose that leaves this complicated subject interesting to and approachable by any general reader. For the history and social-science side of the public library business collection.

— Brad Hooper

(Source: Booklist)

With global financial markets experiencing severe turbulence, Harvard historian Ferguson (The Pity of War) presents a timely history of money and finance from the advent of coins to J.P Morgan Chase's takeover of Bear Stearns earlier this year. He describes humanity's major financial innovations such as banks, bonds, joint stock companies, insurance, and property ownership as well as the pitfalls of inflation, recessions, and asset bubbles. Ferguson finishes by discussing the various iterations of globalization over the past 100 years and one of the newest and currently most notorious financial developments: hedge funds. He keeps his story interesting with humor and unexpected twists such as how a fund to provide for the widows of Scottish clergymen laid the foundations for modern insurance theory. Commenting on the safety normally ascribed to investing in property, he observes ironically that the only real security entailed is for lenders who in the event of loan defaults can seize properties. Though not comprehensive in scope, Ferguson's lighthearted but thoughtful stroll through financial history is a welcome and recommended addition for public libraries and undergraduate collections.

 --Laurence Maxted

(Source: Library Journal)

Các bài viết khác

• Tâm thức mới của miền Nam nước Mỹ
• Một “hồi ký” gây bối rối: Di sản - của ai?
• Chơi vơi giữa dòng
• Văn minh, nhân thân, và bạo lực – Đọc Amartya Sen
• Cái nhìn về một cuộc nội chiến
• 1% sẽ ăn hết của 99%
• Âm vang núi của Hosseini
• Đương đầu với quá khứ
• Thật giả ở thiên đường
• Và dãy núi vang vọng
• Xem thêm các bài viết khác >>