Money
The True Story of a Made-Up Thing
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- $11.99
Publisher Description
The co-host of the popular NPR podcast Planet Money provides a well-researched, entertaining, somewhat irreverent look at how money is a made-up thing that has evolved over time to suit humanity's changing needs.
Money only works because we all agree to believe in it. In Money, Jacob Goldstein shows how money is a useful fiction that has shaped societies for thousands of years, from the rise of coins in ancient Greece to the first stock market in Amsterdam to the emergence of shadow banking in the 21st century.
At the heart of the story are the fringe thinkers and world leaders who reimagined money. Kublai Khan, the Mongol emperor, created paper money backed by nothing, centuries before it appeared in the west. John Law, a professional gambler and convicted murderer, brought modern money to France (and destroyed the country's economy). The cypherpunks, a group of radical libertarian computer programmers, paved the way for bitcoin.
One thing they all realized: what counts as money (and what doesn't) is the result of choices we make, and those choices have a profound effect on who gets more stuff and who gets less, who gets to take risks when times are good, and who gets screwed when things go bad.
Lively, accessible, and full of interesting details (like the 43-pound copper coins that 17th-century Swedes carried strapped to their backs), Money is the story of the choices that gave us money as we know it today.
Customer Reviews
Quite Excellent
I’m a CPA and have 30 years of financial experience. However, I’ve always been interested in the concept of money as both a commodity and conduit for economic transactions.
I found this book a fantastic primer, but also a delightful read. Highly recommend
Very informative
I had to wait until the last chapter to get an answer to the question that prompted me to buy the book- How does printing money work? My time spent getting there was well worth it. Very informative but written in a light easy to read style. I highly recommend it.
Great read
Everyone has opinions about money; but most don’t have a clue how it works. Jacob Goldstein does a fabulous job and explaining the history, current state, and future of money in an engaging, witty, and informative way.