The Ascent Of Money By Niall Ferguson - 1278 Words

Have you ever finished a book and said to yourself â€Å"Wow, I am going to reread this book again?† Unfortunately, The Ascent of Money by Niall Ferguson is not a book where you will likely reread it, instead you will be saying â€Å"Is it finally over?† Ferguson explains how money came to be in our society by starting off with the first use of currency to the end where money has become something we cannot even touch. As a person who is not interested in the history of money, but interested in my net worth going up, I believe The Ascent of Money by Niall Ferguson did a mediocre job on attempting to persuade us on how money is one of the backbones of human history. Initially, the first issue of the book I did not like, jumping from place to place on the timeline. Ferguson begins with how, before money came about, we â€Å"primitive peoples chanced upon each other, it seems, they were more likely to fight over scarce resources (food and fertile women) than to engage in commercial exchange.† (Ferguson 19). Back then we did not need money; instead we just took what we needed. Then Ferguson jumped right into how the Spanish found gold and silver, then the Roman Empire, and then Mesopotamia. Ferguson should have followed a timeline and it would have made the book less confusing to read. In class, I understood what was going on in between those timelines, however if somebody just picked up the book and started reading it, they would be confused especially with how we came from the Spanish toShow MoreRelatedThe Ascent Of Money By Niall Ferguson1516 Words   |  7 PagesIn The Ascent of Money, Niall Ferguson argues that the progress of money is essential to the progress of man. More importantly, he argues that understanding the history of finance provides some insights into making better financial decisions. Although Ferguson’s book is not an introduction to finance, it contains some well-supported arguments with historical lessons and insights of world finance. Ferguson’s book has many strengths and a few weaknesses. One of the strengths of the book is the organizationRead MoreThe Ascent Of Money By Niall Ferguson1524 Words   |  7 Pages A Critical Review of The Ascent of Money In The Ascent of Money, Niall Ferguson argues that the progress of money is essential to the progress of man. More importantly, he argues that understanding the history of finance provides some insights into making better financial decisions. Although Ferguson’s book is not an introduction to finance, it contains some well-supported arguments with historical lessons and insights of world finance. Ferguson’s book has many strengths and a few weaknesses. OneRead More`` Safe As Houses `` And A Financial History Of The World1113 Words   |  5 PagesNiall Ferguson clearly illustrates several economic principles and findings that are also illustrated in our Macroeconomics class. These concepts are seen in Episodes 5 and 6 of The Ascent of Money of money series. â€Å"Safe as Houses† and â€Å"A Financial History of The World† are both episodes that Ferguson uses to emphasize concepts that are also seen in our Macroeconomics. Some of the concepts that are seen in these episodes are property ownership and the finances that come with the ownership of propertyRead MoreBanking : An Old Aged Idea1501 Words   |  7 Pagesbanking ideas can be linked to money and how money has changed the power of people and countries. It can be proven throughout the history of that money, power, and banks are directly related. The banks and money relate to power because the more ec onomic strength a country has the more they can do military wise. It can also be proved over time that money and power create issues that can be counterproductive to society. In Niall Ferguson’s book, The Ascent of Money, Ferguson connects the conquering ofRead MoreThe True Origin Of Debt1257 Words   |  6 Pagescivilizations that dealt with money. Many argue that money does not buy you happiness however then explain how money dictates the lives we live. Money has a large effect in our lives but we do not realize this until we grow up and become aware of this ourselves. Nevertheless, how was debt created that we would owe an amount of money due to us borrowing it and using it for our personal pleasure? Without going in the topic of debt and money too much, we were taught at a young age how money has created a massRead MoreThe Effects Of The Recession On The Economy And It s Citizens1105 Words   |  5 Pageswho control the well-being of the economy (pg.182). It was ultimately positive thinking contaminated the financial system. This idea of being optimistic in everyday life has carried over into the economies, which has caused individuals to spe nd more money than they are saving. As a result, this action â€Å"builds up credit card debt on expenditures† (pg. 182). As the debts become larger, they become more difficult to pay off. However, it was something that wasn’t of concern to individuals at the time, dueRead MoreDreams Of Avarice : The Rise Of Money And Credit Essay1317 Words   |  6 PagesIn The Ascent of Money Niall Ferguson gives an in-depth historical look at money and finance. He begins with ancient banking practices in ancient Mesopotamia, and finishes his book with his predictions for the near future based on patterns that he sees. In the book he discusses the rise of money and credit; the bond market; the stock market; insurance; real estate; and international finance. Niall Fergusson believes that finance and money was made as a necessity for urbanization and developmentRead MoreThe Socio-Economics of the Industrial Revolution and Its Effects on the American Economy1042 Words   |  5 Pagesbeing created at an astounding rate, consumption from consumers skyrocketed, further increasing the income of the wealthy factory owners (History.com Staff 8). This class lived luxuriously, erecting museums, mansions, and other lavish structures (Ferguson 285). Furthermore, the wealthy, with a greater number of mass-produced goods, also had great material wealth. These factors contributed to the first major growth of a social class in the Industrial Revolution, the upper class. Another class thatRead MoreEconomies of Scale2129 Words   |  9 Pagescongressional committees requesting the banks have more capital than one who can assume the losses. The larger the bank should be more regulations on their capitals (New York Times, July 27, 2009, Editorial). However, the laws do not fully protect public money from the externalities of risk created by the banks. In a majority of cases, bank failures, term assumes the people who pay their taxes. In assessing the effects of size and risk factors, Taleb / Tapiero [2009] choose a significant example of firmsRead MoreThe Prince by Niccolo Machiavelli2045 Words   |  8 PagesIntroduction The Renaissance was the tumultuous rebirth of European literature and art. It started in Florence and was ‘funded by the Medici’ (The Ascent to Money 2009) family. This is particularly significant as Niccolà ² di Bernardo dei Machiavelli, was born into the nobility in the Republic of Florence on 3rd May 1469. He was educated in Latin and then studied at the University of Florence. This fuelled his interest in political theory and so the Medici. During his childhood, Lorenzo de Medici