![]() ![]() In examining historic financial watersheds, like the evolution of credit, the birth of the joint-stock company, and the commercialization of derivatives, it is clear that each and every step was an efficient and practical response to a social and political need. In these times of socioeconomic uncertainty, a clear sense of the past and of what has brought us to the present is an absolute requisite without that awareness, there can be no sincere and concrete social debate on what the future should look like. ![]() His latest work, The Ascent of Money, is a fluent and rather complete history of how our complex financial system came into existence. Over the years, Harvard professor Niall Ferguson has repeatedly distinguished himself with his detailed, yet riveting, analyses of financial history. ![]() The Ascent of Money: A Financial History of the World ![]()
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