The Ascent of Money, by Niall Ferguson

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Niall Ferguson is an undeniably smart guy — he’s written about a broad range of global topics quite convincingly (Colossus, for example, on the American empire). So I was happy to pick this history of financial systems up — I read it more or less in tandem with Krugman’s book.

The number one lesson from this book is this: financial systems collapse all the time. It happens in every era in every geography — which highlights why it shouldn’t be such a surprise that our own system is under serious strain right now.

Wonderful history of financial systems, and was great to read alongside Krugman, for a taste of contrasting (but both helpful) views.

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