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The Ascent of Money: A Financial History of the World, NIALL FERGUSON

  • Sep 26, 2013 · 6:30 PM
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"Bread, cash, dosh, dough, loot: 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 labour. 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 back-story behind all history.The evolution of credit and debt was as important as any technological innovation in the rise of civilization, from ancient Babylon to the silver mines of Bolivia. Banks provided the material basis for the splendours of the Italian Renaissance, while the bond market was the decisive factor in conflicts from the Seven Years' War to the American Civil War.

With the clarity and verve for which he is famed, Niall Ferguson explains why the origins of the French Revolution lie in a stock market bubble caused by a convicted Scots murderer. He shows how financial failure turned Argentina from the world's sixth richest country into an inflation-ridden basket case - and how a financial revolution is propelling the world's most populous country from poverty to power in a single generation.

Yet the most important 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."

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  • David

    really tried to make it, ended up getting there around 7ish and didn't want to be rude and come wondering in late and interrupting anything. Hope everyone had fun.

    September 26, 2013

  • Carol too.....still at work. next month, hopefully

    September 26, 2013

  • Ashraf

    sorry ... unforeseen and unavoidable circumstance

    September 26, 2013

  • A former member
    A former member

    Regrettably, I have to travel this evening and will not be able to attend this bookclub meetup (my first with this group) :(.
    I had much to say on the author's use of the common misconception the Bible teaches money is the root of all evil. What the passage (1 Timothy 6:10) actually says is, “For the love of money is a root of all kinds of evil.” There’s a big difference. Throughout history money – the love of it, that is – has served as stimulus for many forms of evil: Greed, envy, jealousy, unethical behavior, arrogance, murder, robbery, burglary, muggings, bribery, extortion, and many others we could name. But if there’s a singular root of evil, it’s not money. It’s pride. If you look at the list above, you’ll note in one way or another, each form of evil is a manifestation of unhealthy pride, unrestrained emphasis on self and self-interest at the expense of others.

    September 26, 2013

  • Wayne S.

    Regretably, I have a schedule conflict. Unfortunately, the discussion will have to go on without me.

    September 26, 2013

  • Dagmar

    Hello passionate readers, unfortunately, I had to go on a business trip and therefore will have to miss the discussion I had really looked forward to. Hope you all enjoyed this read as much as I did and I look forward to the next one. Have fun and I hopefully see you next time.

    September 24, 2013

  • Sonja

    Sorry to miss out - family med. situation requires me out of town.

    September 23, 2013

  • Emad G.

    September 12, 2013

  • Nicolas D.


    The DVD version of the book is also available in the Toronto Public Library. Thanks for letting us know about YouTube. I will certainly check it out.

    September 12, 2013

  • sheri

    This book was made into a television series. You can watch it on Youtube.

    September 11, 2013

  • David

    amazon currently has this book on sale for 13 bucks

    1 · September 9, 2013

  • Tara C.

    Sadly I'll be away for this event, but I am looking forward to being there in the future! Does anyone know of a fiction based book club aswell?

    September 3, 2013

  • Mike A

    excellent choice of subject and author.

    thank you.

    1 · August 13, 2013

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