Share <Embed>

Buy New

$15.29

List Price: $29.95
Save: $14.66 (49%)

FREE Shipping on orders over $25—or get FREE Two-Day Shipping with Amazon Prime

Only 1 left in stock - order soon.

Sold by brt and Fulfilled by Amazon.

Turn on 1-Click ordering for this browser

Want it tomorrow, Oct. 26? Order within and choose One-Day Shipping at checkout. Details

Select delivery location

Buy Used

$5.04

FREE Shipping on orders over $25.

Select delivery location

Used: Good | Details

Sold by Merchandise Cafe

Fulfilled by Amazon

Turn on 1-Click ordering for this browser

Added to

Unable to add item to List. Please try again.

Other Sellers on Amazon

Add to Cart

$8.37
+ $3.99 shipping

Sold by: BOBookstore

Add to Cart

$12.38
+ Free Shipping

Sold by: yjdbooks

Add to Cart

$8.39
+ $3.99 shipping

Sold by: West Coast Bookseller

Have one to sell? Sell on Amazon

Flip to back Flip to front

Listen Playing... Paused You're listening to a sample of the Audible audio edition.
Learn more

See all 3 images

The Ascent of Money: A Financial History of the World Hardcover – Illustrated, November 13, 2008

by Niall Ferguson (Author)

423 customer reviews

See all 36 formats and editions Hide other formats and editions

Price

New from

Used from

Kindle

"Please retry"

$13.44

—

Hardcover

"Please retry"

$12.84

$3.98

Hardcover, Illustrated, November 13, 2008

$15.29

$6.00

$0.25

Paperback

"Please retry"

$13.33

$5.00

$1.28

Audible Audiobook, Unabridged

"Please retry"

—

MP3 CD, Audiobook, MP3 Audio, Unabridged

"Please retry"

$18.35

$12.85

Unknown Binding

"Please retry"

$51.94

$5.51

Watch the PBS program based on The Ascent of Money.

Niall Ferguson follows the money to tell the human story behind the evolution of finance, from its origins in ancient Mesopotamia to the latest upheavals on what he calls Planet Finance.

Bread, cash, dosh, dough, loot, lucre, moolah, readies, the wherewithal: Call it what you like, it matters. To Christians, love of it is the root of all evil. To generals, it’s the sinews of war. To revolutionaries, it’s the chains of labor. But in The Ascent of Money, Niall Ferguson shows that finance is in fact the foundation of human progress. What’s more, he reveals financial history as the essential backstory behind all history.

Through Ferguson’s expert lens familiar historical landmarks appear in a new and sharper financial focus. Suddenly, the civilization of the Renaissance looks very different: a boom in the market for art and architecture made possible when Italian bankers adopted Arabic mathematics. The rise of the Dutch republic is reinterpreted as the triumph of the world’s first modern bond market over insolvent Habsburg absolutism. And the origins of the French Revolution are traced back to a stock market bubble caused by a convicted Scot murderer.

With the clarity and verve for which he is known, Ferguson elucidates key financial institutions and concepts by showing where they came from. What is money? What do banks do? What’s the difference between a stock and a bond? Why buy insurance or real estate? And what exactly does a hedge fund do?

This is history for the present. Ferguson travels to post-Katrina New Orleans to ask why the free market can’t provide adequate protection against catastrophe. He delves into the origins of the subprime mortgage crisis.

Perhaps most important, The Ascent of Money documents how a new financial revolution is propelling the world’s biggest countries, India and China, from poverty to wealth in the space of a single generation—an economic transformation unprecedented in human history.

Yet the central lesson of the financial history is that sooner or later every bubble bursts—sooner or later the bearish sellers outnumber the bullish buyers, sooner or later greed flips into fear. And that’s why, whether you’re scraping by or rolling in it, there’s never been a better time to understand the ascent of money.

Frequently bought together

Total price: $34.22

These items are shipped from and sold by different sellers. Show details

Buy the selected items together

This item:The Ascent of Money: A Financial History of the World by Niall Ferguson Hardcover $15.29
Only 1 left in stock - order soon.
Sold by brt and ships from Amazon Fulfillment.
FREE Shipping on orders over $25. Details
The Square and the Tower: Networks and Power, from the Freemasons to Facebook by Niall Ferguson Hardcover $18.93
In Stock.
Ships from and sold by Amazon.com.
FREE Shipping on orders over $25. Details

Customers who bought this item also bought

Page 1 of 1 Start overPage 1 of 1

This shopping feature will continue to load items. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading.

Niall Ferguson

317

Hardcover
$21.28
Niall Ferguson

94

Hardcover
$18.93
Niall Ferguson

211

Hardcover
$11.99
Niall Ferguson

130

Paperback
$25.75
Niall Ferguson

130

Hardcover
$51.00
Jack Weatherford

86

Hardcover
47 offers from $8.02

Editorial Reviews

From Bookmarks Magazine

Niall Ferguson makes a strong, compelling case for the development of money and banking as a catalyst for the advancement of civilization. Yet while some critics praised his clear, comprehensible writing, punctuated with anecdotes and historical details, others were nonplussed by his explanations and narrative detours. Several critics also bemoaned the book's choppy and uneven structure—an echo of the episodic, six-part television series it was meant to accompany. So it seems the UK critics liked the book less because they had seen the show. Though perhaps best suited to readers with a fundamental understanding of financial terms and theories, Ferguson's latest work provides valuable insight into the inner workings of the global economy, past and present. For interested readers, it demonstrates how our current fiscal meltdown fits into the bigger historical picture and laments humanity's perennial inability to learn from this history.
Copyright 2009 Bookmarks Publishing LLC

From Booklist

*Starred Review* 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

See all Editorial Reviews

Product details

Hardcover: 442 pages
Publisher: Penguin Press; 1 edition (November 13, 2008)
Language: English
ISBN-10: 1594201927
ISBN-13: 978-1594201929
Product Dimensions: 6.4 x 1.3 x 9.3 inches
Shipping Weight: 1.4 pounds (View shipping rates and policies)
Average Customer Review: 423 customer reviews
Amazon Best Sellers Rank: #482,852 in Books (See Top 100 in Books)
- #1358 in Books > Business & Money > Biography & History > Economic History
- #5172 in Books > History > Historical Study & Educational Resources
- #8281 in Books > Business & Money > Economics

Would you like to tell us about a lower price?
If you are a seller for this product, would you like to suggest updates through seller support?

Be the first video

Your name here

Try the Kindle edition and experience these great reading features:

See Kindle Edition

423 customer reviews

By customer groups & interests

Economics

4.3

Book Series

4.1

Is this feature helpful?

Thank you for your feedback.

Review this product

Write a customer review

Showing 1-6 of 423 reviews

There was a problem filtering reviews right now. Please try again later.

Marion

Entertaining historical narrative

April 7, 2016

Format: MP3 CDVerified Purchase

The genius of history Professor Ferguson, of Harvard University and the Hoover Institute, is widely acclaimed. His ability to summarize the broad sweep of history in using easy language for non-academics is on display in many of his books.
Note: this book is not without its critics, particularly among Economists, who can be a cantankerous lot with a wide variety of political viewpoints. The book succeeds as a historical narrative and does not lay claim to technical economic exposition.
Ferguson has the ability to open up the broad sweep of history with easy terms and lots of facts to portray a clear picture. The pertinent statistics that abound in his narrative are particularly helpful in clarifying the history and impact of money. Beginning with money lenders in ancient Mesopotamia (a beginning form of credit) the author shows us how the ascent of money has been essential to the ascent of mankind.
The ascent of money is described as an evolutionary process with development throughout history of new mediums of exchange. Capital mutations bring about the creation of new markets and new products, which are created by a system under capitalism, which provides growth in the monetary system to accommodate economic growth and expansion of the population. One example of the ongoing change in the world of business and technology that is cited: of the 100 largest private companies in the year 1919 only 29 remained in the top 100 by the year 2000.
The author shows us the development of new tools in the supply of money from barter systems to using commodities as money, to the first coins in the Mediterranean region (600BC), to the Inca Empire which had no money (presumably applauded by Karl Marx but not John Lennon), to precious metals backed by coinage in the era of Pizarro, to the introduction of banking systems with the Medici Empire in 15th Century Florence, to the introduction of stocks, bonds, insurance, and international money markets, and to the subprime mortgage debacle.
Within the narrative we get the broad sweep of many of the greatest economists including Adam Smith, Friedrich von Hayek, Ludvig von Mises, Joseph Schumpeter, Karl Marx, Frank Knight, JM Keynes, and Milton Friedman.
The Author asserts that the basis of money is TRUST. National currencies therefore float in value compared to other currencies depending upon international confidence and expected stability. Credit also is dependent upon the commitment that loans will be repaid. According to the author with other things being equal, more “money” only increases prices and does not enrich a nation.
One theory espoused by a number of individuals in popular discourse is the world would be better off if there were no money! The author does not refute this argument directly, perhaps assuming that his readers are schooled in basic economics. Economic history teaches that in a culture where there is no money, a monetary system is created in order that goods and services can be exchanged between individuals. Only if no item in the culture has any value would there be no need for money. If anything, perhaps the life of an individual, does have value then there would arise the desire for a monetary system in order to protect or exchange the items of value between individuals. Ferguson does mention the “no money” topic regarding both Karl Marx and the Inca civilization. Little is known about the Inca Empire except that its time of prosperity was very short. Marxism seemed to flourish during the first half of the twentieth century but seemed to collapse by the end of the century, with many formerly Communist or socialist nations moving back toward widespread property rights and capitalism.

4 people found this helpful5 people found this helpful

Helpful

Comment

Shawn C.

Only an average book by above average author and economist

November 12, 2014

Format: PaperbackVerified Purchase

I appreciate and respect Mr Ferguson as an author and economist, but unfortunately, this book rated merely as "meh" for me. It was a fairly easy read, and while some theories and observations may be controversial to some (or rather in some circles), I don't think there was anything earth shattering or that 'out there.' If you've had any education in economics, then most of this book will be old hat (or at least a good refresher) and not bring you too much new. While those new to the field, then, will gain from this book, I think there are better routes to go. So overall, maybe this book is for you, and though it's only average to me, I still look forward to reading more works from Niall Ferguson.

7 people found this helpful8 people found this helpful

Helpful

Comment

Capt. Flash

Must read for those interested in money (everybody)

March 14, 2018

Format: Kindle EditionVerified Purchase

A fascinating history of finance. The evolutionary nature of our economic systems is explained in a well written and understandable manner. This book should be enjoyed by historians, economists, and those interested in the changing world around them. The author’s references to the natural world are innovative and enlightening, and makes his analysis somewhat unique.

2 people found this helpful3 people found this helpful

Helpful

Comment

Mark Eversfield

The Ascent of Money?

February 11, 2012

Format: PaperbackVerified Purchase

The title of the book infers a positive connotation to the development of money. I think the majority of people would agree that we are better off than those of Mesopotamia. This ascent, however, follows a saw-tooth pattern of gains and losses through time. Ferguson does a good job following these vicissitudes. I discovered the function of money studying economics in university, a unit of exchange. When a country has problems maintaining confidence in their currency, any benefits that the evolution of money has developed moves backward because that belief diminishes.

There is a lot of discussion on the purpose of this book: is it a history of money, does it fulfill an agenda of the author, does it describe the financial difficulties of our current economic condition, does it do all of these? I'll look at how this book fulfills all of these.

Firstly, Ferguson provides us with a history of money by taking us from tablets used five thousand years ago in Mesopotamia to the earliest known coins from 600 BC found by archaeologists in the Temple of Artemis at Ephesus, to the Medicis of Italy, the Rothschilds, John Law , the American civil war, the World Wars, and to the housing bubble of the latest decade. These different periods illustrate developments and the failures in the history of loans, banks, bonds, real estate, derivatives, Chimerica, and the financial community's efforts to attach biological terms to the financial world.

Secondly, some have criticized Ferguson for only providing history that supports his political leanings. An argument could be made that this is a history of money and not politics although the two are highly intertwined and Ferguson does include politics in this history. I would think Ferguson tried to minimize the role of politics so criticisms of excluding Pinochet's human cost could be defended on these grounds.

Thirdly, the history of money is filled with instances of the animal spirit or irrational exuberance of human thinking which explains the most recent recession. From the Medicis to the Rothschilds, John Law to Ken Lay, over confidence soon gets the better of us and therefore does explain the cause of today's recession.

So I think Ferguson did a good job overall in combining micro details that provide a tactile connection to significant developments in the history of money and still achieves a macro understanding of money. Looking at the ledgers of the Medicis or the tablets that were used for crops keeps you on your toes while explaining the developments of the first lenders for example.

My favorite parts of this book include the Dutch United East India company's power in world trade, German monetary policy after WW I, the role of bonds in the US civil war, the Chilean experiment, and the modern day stock market, 12 fold increase over 20 years.

My least favorite part is the explanation of today's problems being the result of printing money. From my reading of the situation, it was the rating agencies who enabled the selling of the CDO's and mortgage company's ability to escape liability in their lending practices. Not the printing of money.

I'm looking forward to reading Ferguson's next book "Civilization".

4 people found this helpful5 people found this helpful

Helpful

Comment

John M Kelly

I love the historical view of finances

December 27, 2017

Format: PaperbackVerified Purchase

Really interesting book. Well researched and written. I love the historical view of finances. The language is understandable, not a huge amount of academic terminology for beginner like me.

2 people found this helpful3 people found this helpful

Helpful

Comment

Amazon Customer

Amazing book. History+ finance. A must-read.

July 5, 2018

Format: PaperbackVerified Purchase

Incredible book, really well-written and documented. The author drives through century after century from Europe to South America, Asia, covering the origins of finance until today. Crisis, inflation, currencies, everything is in the book. Really worth reading it. It is easy to read, like a story or biography with superb prose and details. I didn’t know Niall Ferguson before and now I want to read more books of him. Recommended +.

One person found this helpful2 people found this helpful

Helpful

Comment

Set up an Amazon Giveaway

Amazon Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers. Learn more about Amazon Giveaway

This item: The Ascent of Money: A Financial History of the World

Set up a giveaway

Customers who viewed this item also viewed

Page 1 of 1 Start overPage 1 of 1

This shopping feature will continue to load items. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading.

Niall Ferguson

94

Hardcover
$18.93
Niall Ferguson

130

Paperback
$25.75
Niall Ferguson

317

Paperback
$18.14
Niall Ferguson

211

Hardcover
$11.99
Jack Weatherford

86

Paperback
$14.23
Niall Ferguson

267

Paperback
$13.70

Pages with related products. See and discover other items: history of argentina, argentina economy

Buy New

$15.29

Turn on 1-Click ordering for this browser

Buy Used

$5.04

Turn on 1-Click ordering for this browser

Other Sellers on Amazon

The Ascent of Money: A Financial History of the World Hardcover – Illustrated, November 13, 2008

Frequently bought together

Customers who bought this item also bought

Sponsored products related to this item (What's this?)

Editorial Reviews

From Bookmarks Magazine

From Booklist

Product details

Related Video Shorts (0)

Be the first video

Sponsored products related to this item (What's this?)

Try the Kindle edition and experience these great reading features:

423 customer reviews

Review this product

Read reviews that mention

Showing 1-6 of 423 reviews

There was a problem filtering reviews right now. Please try again later.

Set up an Amazon Giveaway

Customers who viewed this item also viewed

Buy New $15.29

Turn on 1-Click ordering for this browser

Buy Used $5.04

Turn on 1-Click ordering for this browser

Sorry, there was a problem.

Sorry, there was a problem.

Other Sellers on Amazon

The Ascent of Money: A Financial History of the World Hardcover – Illustrated, November 13, 2008

Frequently bought together

Customers who bought this item also bought

Sponsored products related to this item (What's this?)

Editorial Reviews

From Bookmarks Magazine

From Booklist

Product details

Related Video Shorts (0)

Be the first video

Sponsored products related to this item (What's this?)

Try the Kindle edition and experience these great reading features:

423 customer reviews

Review this product

Read reviews that mention

Showing 1-6 of 423 reviews

There was a problem filtering reviews right now. Please try again later.

Set up an Amazon Giveaway

Customers who viewed this item also viewed

Buy New

$15.29

Buy Used

$5.04