My Christmas Reading(click on photo to enlarge)
The last of the three books my sister sent me for Christmas finally arrived. It is "The Ascent of Money : The Financial History of the World" by Niall Ferguson. It is a fascinating read if one is interested in money and how it affects our live. It is up to the minute in that it discusses the financial bubble that led up to our present economic crisis. All bubbles finally burst. Economist and others who deal with money know this; and yet, they in their greedy quest delude themselves into thinking it will not be the case this time , not yet anyway.
The book also gives some insight into the Enron bubble that burst a while back. Interestingly, Cheney and Bush had some involvement in this. This event should have been a warning for what finally happened this last time as the stripping away of government regulations allowed truly criminal behaviour to take over.
The book is about a lot more than these economic crises as it is an historical survey on how money has become so important through the ages.
This book gives more technical knowledge to compliment Margaret Atwood's Massey Lectures, "Payback: Debt and the Shadow Side of Wealth" which I had just finished when it arrived.
For those who are interest in understanding our present economic crisis this book is a good place start. It is not a dry read but quite a stimulating understandable one.