The Ascent of Money is a book that explains how different historical events led to the development of the current financial system. It aims to show how, despite its proneness to crises and inequality, the financial system and money itself are drivers of human history and progress.
The book also 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.
The main themes of the book include the role of finance in human history, the impact of financial institutions on poverty and inequality, and the unpredictability of financial crises. The book argues that the elimination of poverty requires sufficient financial institutions, inequality is really between the smart and the ignorant, and financial crises are hard to predict.
Useful takeaways from the book include the importance of financial institutions in reducing poverty, the need for financial literacy to reduce inequality, and the recognition that financial crises are difficult to predict. The book also highlights the role of technology in shaping the financial system and the importance of understanding historical events to understand the current financial landscape.
What I Liked
Well written book and an interesting topic.
What I Did Not Like
It’s a bit long, but otherwise solid.