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With the clarity and verve for which he is known, Ferguson elucidates key financial institutions and concepts by showing where they came from. What is money? What do banks do? What's the difference between a stock and a bond? Why buy insurance or real estate? And what exactly does a hedge fund do? This is history for the present. Ferguson travels to post-Katrina New Orleans to ask why the free market can't provide adequate protection against catastrophe. He also delves into the origins of the subprime mortgage crisis.
Perhaps most important, The Ascent of Money documents how a new financial revolution is propelling the world's biggest countries, India and China, from poverty to wealth in the space of a single generation---an economic transformation unprecedented in human history.Yet the central lesson of the financial history is that sooner or later every bubble bursts---sooner or later the bearish sellers outnumber the bullish buyers; and sooner or later greed flips into fear. And that is why, whether you're scraping by or rolling in it, there's never been a better time to understand the ascent of money.
AudioFile Earphones Award Winner. A Washington Post Best Book of 2008. A New York Times Bestseller. Unabridged. 1 MP3-CD. Narrated by Simon Prebble.
Vendor: Tantor Media Inc.
Publication Date: 2008
|Dimensions: 5.39 X 6.41 X 1.06 (inches)|