The Ascent of Money by Niall Ferguson (2008, Hardcover)

After seeing Dr. Ferguson on a financial interview, put this book on my "READ NEXT" list. For all who wish to understand what has happened to the monetary system globally, how and why it happened, and what is needed to work through the problems the economies of the world face, this book is MANDATORY. Dr. Ferguson takes us through the evolution of money itself, showing how it has been used, abused, destroyed, and then re-invented.

This work is not just anonother of the many 'fixing things once-and-for-all, happily-ever-after' fantasy peices. Rather it is a magnificent work illustrating what money systems have been in the past, what they are now, and why the remedies being now proposed by politicos are doomed to fail.

Woven into the work are the bits and peices which point the path to the development of efficaciuos money and credit systems needed to meet the economic needs of civilation for future generations.

If we as individuals expect to survive, and moreover, to prosper in our own futures, we need to understand how the world of money and credit behave. This magnum opus created by Dr. Ferguson lights a million candles in the darkness. Get it, read it, understand it, and passi it on to all who need it.

Author reviews the history of banking, loaning, stock market bubbles, and housing economics. Bubbles are the best chapter.

If you’re looking for a book that offers a deep understanding of the evolution and the effects of money, this book offers the clearest perspective I’ve yet to see.