Summary of Niall Ferguson's The Ascent of Money

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Niall Ferguson tells the human story behind the step-by-step evolution of the financial system in The Ascent of Money (2009). Starting from ancient Mesopotamia, to the ongoing struggles that people face with money today, he explains the building blocks that made money the way we know it. Ferguson argues that credit and debt were as crucial for the rise of civilization as any other technological innovation. Many of the financial crises that people are undergoing today are a product of history repeating itself, and it is through understanding our own financial history that will we be able to know how to truly avoid it.