What's the history of money? How long have we been using it? Where does it come from and how have we evolved from using a simple barter and gold system to the incredibly complex financial society we have today?
These are just some of the questions that Niall Ferguson tackles in his book 'The Ascent of Money' which we'll be diving into in this book club. We'll explore the question of whether money is parasitical? Is the finance industry just a blood sucker or do they contribute to society? And what’s the role, or really the history of money and financialization of our society?
Join us as we explore the history of money from the early usage of gold through Renaissance Italy, the industrial revolution in northern Europe, the invention of modern banking and the great upheavals of the last 100 years.
Syllabus
What's the history of money? How long have we been using it? Where does it come from and how have we evolved from using a simple barter and gold system to the incredibly complex financial society we have today?
These are just some of the questions that Niall Ferguson tackles in his book 'The Ascent of Money' which we'll be diving into in this book club. We'll learn about: • The use of gold • When the first bank was created and where 🏦️ • When the world started to shift from 'money' to 'finance' 📈️
Let's zip through time and explore some of the key landmarks of our financial system: • Three innovations in banking 🏦 • The history of the bond market 💸 • Stock market bubbles and the first joint stock company! 🚢
In our last episode of this book club we'll look at the final two factors that lead to our financialized world: • Insurance • Globalization
These two trends have relied on years of advancement in different areas: math, statistics, industrialization and diplomacy. Together they connect the world and bridge where we left off last episode to the financial system we find ourselves in today.