The 10th anniversary version, with new chapters on the crash, Chimerica, and cryptocurrency On this up to date version, Niall Ferguson brings his basic monetary historical past of the world as much as the current day, tackling the populist backlash that adopted the 2008 disaster, the descent of “Chimerica” right into a commerce battle, and the appearance of cryptocurrencies, comparable to Bitcoin, along with his signature readability and skilled lens. The Ascent of Cash reveals finance because the spine of historical past, casting a brand new mild on acquainted occasions: the Renaissance enabled by Italian international change sellers, the French Revolution traced again to a inventory market bubble, the 2008 disaster traced from America’s chapter capital, Memphis, to China’s boomtown, Chongqing. We might resent the plutocrats of Wall Road however, as Ferguson argues, the evolution of finance has rivaled the significance of any technological innovation within the rise of civilization. Certainly, to review the ascent and descent of cash is to review the rise and fall of Western energy itself.
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