Kategorien entdecken

Das sind die Blinks zu

The Ascent of Money

A Financial History of the World

Von Niall Ferguson
18 Minuten
Audio-Version verfügbar
The Ascent of Money: A Financial History of the World von Niall Ferguson

The Ascent of Money is an explanation of 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.

  • Anyone who wants to understand the workings of the financial system
  • People who want to understand why financial crises happen
  • Anyone who wants to know why money is so powerful

Niall Ferguson is one of Britain’s most renowned historians. He has worked for numerous institutions in Britain and the USA, with a focus primarily on international and economic history.

In addition to his academic career, he is also known as a commentator and writer for numerous newspapers and magazines. He has written and presented various television documentary series, including a television adaptation of the Ascent of Money.

Kennst du schon Blinkist Premium?

Mit Blinkist Premium erhältst du Zugang zu dem Wichtigsten aus mehr als 3.000 Sachbuch-Bestsellern. Das Probeabo ist 100% kostenlos.

Premium kostenlos testen

Was ist Blinkist?

Blinkist ist eine App, die die großen Ideen der besten Sachbücher in einprägsame Kurztexte verpackt und erklärt. Die Inhalte der über 3.000 Titel starken Bibliothek reichen von Sachbuch-Klassikern, über populäre Ratgeber bis hin zu diskutierten Neuerscheinungen. Basierend auf wissenschaftlichen Erkenntnissen wird jeder Titel von speziell geschulten Autoren aufbereitet und dem Nutzer als Kurztext und Audiotitel zur Verfügung gestellt.

Discover
3.000+ top
nonfiction titles

Get unlimited access to the most important ideas in business, investing, marketing, psychology, politics, and more. Stay ahead of the curve with recommended reading lists curated by experts.

Entdecke die Kernaussagen zu diesem Titel:
Entdecke die Kernaussagen zu diesem Titel:
Entdecke die Kernaussagen zu diesem Titel:

The Ascent of Money

A Financial History of the World

Von Niall Ferguson
  • Lesedauer: 18 Minuten
  • Verfügbar in Text & Audio
  • 11 Kernaussagen
Jetzt kostenloses Probeabo starten Jetzt lesen oder anhören
The Ascent of Money: A Financial History of the World von Niall Ferguson
Worum geht's

The Ascent of Money is an explanation of 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.

Kernaussage 1 von 11

The value of money comes from the trust we as societies place in it, not from its intrinsic worth.

When the Spanish conquistadors swept through Central and South America in the sixteenth century, they were largely motivated by the quest for gold and silver. They thought that the more precious metal they could acquire, the more coins they could mint, and therefore the more money they would have. What happened though was that the increased supply of coinage actually led to its depreciation in value, regardless of what rare metal it was made of.

The conquistadors failed to realize that the power and value of money comes not from its physical worth but from what people are willing to give you for it. An overabundance of money will always lead to inflation.

It doesn’t matter what it is made of, as long as society trusts in its value. 

Trust is a crucial element in the value of money. We trust that the money we use will hold its value and that, unlike the Spaniards, our central banks won’t overproduce it. We trust that banks will keep our money safe, and they trust us to pay our loans back. Without this trust, money is not worth the paper it’s printed on.

Today, physical money itself is worthless, as paper and base metal coins hold very little intrinsic value. The vast majority of money in the world doesn’t even physically exist; it is entirely virtual and can be transferred electronically across the world without ever materializing physically.

These worthless tokens are accepted as holders of value because together we trust in them.

The value of money comes from the trust we as societies place in it, not from its intrinsic worth.

Mit Premium freischalten Jetzt lesen oder anhören

Inhalt

Mit Premium freischalten Jetzt lesen oder anhören

Bringe mehr Wissen in deinen Alltag!

Sichere dir jetzt Zugang zu den Kernaussagen der besten Sachbücher – praktisch in Text & Audio in nur 15 Minuten pro Titel.
Created with Sketch.