Book Review

The Ascent of Money: A Financial History of the World. Niall Ferguson. 2008 The Penguin Press. 442: pp

Abstract

Niall Ferguson is one of the new breed of historians in England with
a non-conventional approach to the subject. He has written prolifically;
The Cash Nexus, Colossus and the War of the World being among the
more widely read of his books. In his approach to his subject Niall
Ferguson has changed the way in which we view history and historical
events. In The Pity of War, Niall Ferguson’s main thesis was that Britain
should not have entered World War I because by the time the fighting
was over, the British empire had been substantially weakened. Had
Britain not entered the conflict, the Empire would have still been there.
In The Cash Nexus (2001), Ferguson had this to say of the United States.
‘the leaders of the one state with the economic resources to make the
world a better place lack the guts to do it”. This latest book, The Ascent
of Money is a continuation of his intellectual prowess in analyzing the
role of finance in the rise and fall of the great powers. The author gives
plenty of examples from history to support his arguments.