The rise of the Dutch republic is reinterpreted as the triumph of the world's first modern bond market over insolvent Habsburg absolutism. Suddenly, the civilization of the Renaissance looks very different: a boom in the market for art and architecture made possible when Italian bankers adopted Arabic mathematics. Through Ferguson's expert lens, familiar historical landmarks appear in a new and sharper financial focus. What's more, he reveals financial history as the essential back story behind all history. But in The Ascent of Money, Niall Ferguson shows that finance is, in fact, the foundation of human progress. To revolutionaries, it's the chains of labor. To Christians, love of it is the root of all evil.
Bread, cash, dough, loot, moolah, readies, the wherewithal: Call it what you like, it matters.
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