Book Summary: The Ascent of Money

A gripping book about the financial history of the world by Harvard Professor Niall Ferguson. It’s a great walkthrough of the evolution of services like banking, insurance, stock and bond markets and development of real estate. The book is full of great analyses of several financial crises and the systems people create to counter them.

Chapter 1 — Origins of Finance & Banking

The story starts with the need for finance during the barter days. It describes the journey of Pizarro, a Spanish explorer to Peru where he…