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The Ascent of Money

The Ascent of Money

★ 8.0/10•2008•49m•Documentary
Similars

Historian Niall Ferguson tells the story of money and the rise of global finance. Bringing context and understanding to the current economic crisis, he reveals how the history of finance has been punctuated by gut-wrenching crashes.

StatusEnded
Runtime49m
LanguageEN
First Air DateNov 17, 2008

Episodes

Episode 1 - Dreams of avariceE149m

Dreams of avarice

From Shylock's pound of flesh to the loan sharks of Glasgow, from the 'promises to pay' on Babylonian clay tablets to the Medici banking system, Professor Ferguson explains the origins of credit and debt and why credit networks are indispensable to any civilisation.

Nov 17, 2008

Episode 2 - Human BondageE249m

Human Bondage

How did finance become the realm of the masters of the universe? Through the rise of the bond market in Renaissance Italy. With the advent of bonds, war finance was transformed and spread to north-west Europe and across the Atlantic. It was the bond market that made the Rothschilds the richest and most powerful family of the 19th century. And today governments are asking it to bail them out.

Nov 24, 2008

Episode 3 - Blowing BubblesE349m

Blowing Bubbles

Why do stock markets produce bubbles and busts? Professor Ferguson goes back to the origins of the joint stock company in Amsterdam and Paris. He draws telling parallels between the current stock market crash and the 18th-century Mississippi Bubble of Scottish financier John Law and the 2001 Enron bankruptcy. He shows why humans have a herd instinct when it comes to investment, and why no one can accurately predict when the bulls might stampede.

Dec 1, 2008

Episode 4 - Risky BusinessE449m

Risky Business

Life is a risky business – which is why people take out insurance. But faced with an unexpected disaster, the state has to step in. Professor Ferguson travels to post-Katrina New Orleans to ask why the free market can't provide adequate protection against catastrophe. His quest for an answer takes him to the origins of modern insurance in the early 19th century and to the birth of the welfare state in post-war Japan.

Dec 8, 2008

Episode 5 - Safe as HousesE549m

Safe as Houses

It sounded so simple: give state-owned assets to the people. After all, what better foundation for a property-owning democracy than a campaign of privatisation encompassing housing? An economic theory says that markets can't function without mortgages, because it's only by borrowing against their assets that entrepreneurs can get their businesses off the ground. But what if mortgages are bundled together and sold off to the highest bidder?

Dec 15, 2008

Episode 6 - ChimericaE649m

Chimerica

Since the 1990s, once risky markets in Asia, Latin America and eastern Europe have become better investments than the UK or US stock market. The explanation is the rise of 'Chimerica', the economic marriage of China and the United States. But does it make sense for poor Chinese savers to lend to rich American spenders?

Dec 22, 2008

Actors

Niall Ferguson

Niall Ferguson

Himself - Presenter

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