This is not a history of money (currency) but rather attempts to be a complete financial history, and so is really an economic history of Europe and the Western World.
Yes, it is fascinating to know how the advent of credit and financial innovation revolutionized Europe and the New World and is the "back story" of most of Western World History since the 1300s. However, I think the book is mis-titled, and does not explore the non-Euro-centric world in any revealing way.
This is an historical account of money/econonmics in all of its shapes and forms. The book is arranged in chapters that discuss:
1. The rise of money in society, credit and debt and how hard currency was replaced with paper.
2. The rise of the bond market and the Rothschild family
3. The stock market and the bubbles that it has produced (e.g., Enron)
4. The start of insurance and the management of risk
5. Housing an mortgages
6. The effects of globalization (e.g., China's economic development)
I found this book enjoyable to listen too, but there were times when I wish it had gone into more depth with the explanation of certain economic topics. Still the scope was large enough to give a layman like myself a good survey of topics. I especially liked chapters 1, 3, and 4 but I felt that some of the parts in the (chap5) housing discussion were a little preachy about social inequalities. Also I found the discussion on globalization a little dated - this book was written in 2008.
The afterward of this book was also interesting but raced through the topic of behavior economics (the irrationality of economics due to human nature) way too fast for me.
I would recommend this book to those of you that have like popular economic books (e.g., freakonomics, predictably irrational) AND also like history. You must like listening to history books to enjoy this.
Thought this book jumped around too much. From the description, I thought it was going to be more of a history of money going in chronological order, but instead, it jumps from financial idea to financial idea.
The first chapters (up through Ferguson's elucidating chapter on how insurance works) is a wonderfully clear account of how financial systems evolved and how they work. Unfortunate, Ferguson gets on a few obvious personal hobby-horses in the last half of the book and if you don't agree with his politics (he makes a point of calling American Republicans idiots, which immediately alienates half his audience to no purpose, especially on a subject such as this. One supposes he is attempting to keep his academic Facebook friends list from going down). In any case, there are some excellent insights and generally good writing throughout and the book is definitely a worthwhile listen.
This book is timely and packed with information. The author puts our current "situation" in a historical context that proves very illuminating. I will be re-listening to the whole thing.
The best thing you can make is joy.
There's a strong, yet subtle conservative tinge to this entire book, which I found disconcerting and at times inflammatory. Ferguson hates Unions, that's clear, and in a leitmotif blames them over and over for various financial down turns.
I should have done my homework before buying this book. It's not that I don't like to hear several sides of an issue - I do - but I found his need to politicize many aspects of finance troubling. Not the most enjoyable read I've listened to.
A very interesting and engrossing history of finance. Narration is also very good. I would recommend it for individuals with non-finance background wanting to learn a little about the world of finance and how it got to be the way it is.
I am a bilingual high school teacher. I mostly read non-fiction, especially history, but I am also a sucker for science-fiction and fantasy novels.
This is an accessible yet detailed history of finance. The historical content was engaging and was the sort of thing that you've probably never heard about, even if you are a history buff (as I am). Even with extremely limited background knowledge, I had no trouble following along and yet it was in-depth enough to hold my attention. Despite the subject matter, it doesn't get wrapped up in numbers so that it gets tedious to hear in audio format, unlike many other books about financial matters.
The narration was truly excellent. Easy to understand and I can't remember even a single pronunciation error, which I cannot say about almost any other audiobook I've listened to.
Overall, I would highly recommend it - the historical aspect is interesting regardless of the level of interest a person may have in financial systems and the details about stocks, bonds, currency, etc. are there for those who are already knowledgeable about the subject.
A small note is that the writing on the book was completed in May 2008, so the parts about the late 2007/early 2008 subprime mortgage problems are sort of strange and feel incomplete, seeing as he didn't know that the crisis would escalate just a few months later. He doesn't make any predictions, but it is still a bit strange to read an assessment of the situation just before the worst of it really hit. If you know more about that crisis than I do (I am admittedly not very knowledgeable about it), you may find those discussions particularly interesting.
Husband, Dad, Principal, Adjunct prof, RC Deacon, radio co-host, story teller, NYer, walker, & occasional sipper of fine whisk(e)y,
I was a liberal art major in College. Money, to me, just sort of "was." Mr. Ferguson takes the listener through a delightful history of money and economy and allows one to see how we got where we are.
A little boring for those of us not particularly well-versed in economics. Lots of good information if only you can force yourself to listen. I kept skipping ahead hoping I'd find something a bit more interesting....then I got to the end (thankfully.) The narrator is good - British accent and all, but he does drone on pretty much in a monotone.