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The Ascent of Money

Niall Ferguson looks like a prodigy. He is the author of an astonishing number of bestselling history books - Paper and Iron, The House of Rothschild, The Pity of War, The Cash Nexus, Empire, Colossus, and The War of the World. He is a professor of history at Harvard, a senior research fellow at Oxford, and a senior fellow at Stanford's Hoover Institution.

Ferguson has just published The Ascent of Money: An Economic History of the World, which looks like another carefully researched and wildly colourful read. It's also a Channel 4 presentation.

One of his more sober points:

Money is based on trust.

As we can painfully see, recent losses in our economy are closely related to loss of trust. Are the bankers and politicians going to do something about it?

Ferguson suspected a liquidity crisis was in the making more than two years ago, and decided to write a one-shop book that would explain economic crisis in the span of 4,000 years of financial history. The interview starts slowly, but takes off as soon as Ferguson starts to speak -

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