The History of Money

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In his most widely appealing book yet, one of today's leading authors of popular anthropology looks at the intriguing history and peculiar nature of money, tracing our relationship with it from the time when primitive men exchanged cowrie shells to the imminent arrival of the all-purpose electronic cash card. 320 pp. Author tour. National radio publicity. 25,000 print.


From the Hardcover edition.
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Jack Weatherford
The name Genghis Khan often conjures the image of a relentless, bloodthirsty barbarian on horseback leading a ruthless band of nomadic warriors in the looting of the civilized world. But the surprising truth is that Genghis Khan was a visionary leader whose conquests joined backward Europe with the flourishing cultures of Asia to trigger a global awakening, an unprecedented explosion of technologies, trade, and ideas. In Genghis Khan and the Making of the Modern World, Jack Weatherford, the only Western scholar ever to be allowed into the Mongols’ “Great Taboo”—Genghis Khan’s homeland and forbidden burial site—tracks the astonishing story of Genghis Khan and his descendants, and their conquest and transformation of the world.

Fighting his way to power on the remote steppes of Mongolia, Genghis Khan developed revolutionary military strategies and weaponry that emphasized rapid attack and siege warfare, which he then brilliantly used to overwhelm opposing armies in Asia, break the back of the Islamic world, and render the armored knights of Europe obsolete. Under Genghis Khan, the Mongol army never numbered more than 100,000 warriors, yet it subjugated more lands and people in twenty-five years than the Romans conquered in four hundred. With an empire that stretched from Siberia to India, from Vietnam to Hungary, and from Korea to the Balkans, the Mongols dramatically redrew the map of the globe, connecting disparate kingdoms into a new world order.

But contrary to popular wisdom, Weatherford reveals that the Mongols were not just masters of conquest, but possessed a genius for progressive and benevolent rule. On every level and from any perspective, the scale and scope
of Genghis Khan’s accomplishments challenge the limits of imagination. Genghis Khan was an innovative leader, the first ruler in many conquered countries to put the power of law above his own power, encourage religious freedom, create public schools, grant diplomatic immunity, abolish torture, and institute free trade. The trade routes he created became lucrative pathways for commerce, but also for ideas, technologies, and expertise that transformed the way people lived. The Mongols introduced the first international paper currency and postal system and developed and spread revolutionary technologies like printing, the cannon, compass, and abacus. They took local foods and products like lemons, carrots, noodles, tea, rugs, playing cards, and pants and turned them into staples of life around the world. The Mongols were the architects of a new way of life at a pivotal time in history.

In Genghis Khan and the Making of the Modern World, Jack Weatherford resurrects the true history of Genghis Khan, from the story of his relentless rise through Mongol tribal culture to the waging of his devastatingly successful wars and the explosion of civilization that the Mongol Empire unleashed. This dazzling work of revisionist history doesn’t just paint an unprecedented portrait of a great leader and his legacy, but challenges us to reconsider how the modern world was made.


From the Hardcover edition.

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Additional Information

Publisher
Crown Business
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Published on
Sep 23, 2009
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Pages
304
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ISBN
9780307556745
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Language
English
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Genres
Business & Economics / Economic History
Business & Economics / International / General
Business & Economics / Money & Monetary Policy
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Content Protection
This content is DRM protected.
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Eligible for Family Library

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Frederick Lewis Allen
A look at America in the late nineteenth and early twentieth centuries, and the capitalists who changed the world—setting the stage for the most devastating global financial collapse in history—from “a diligent and perceptive reporter” (Forbes).

In the decades following the Civil War, America entered an era of unprecedented corporate expansion, with ultimate financial power in the hands of a few wealthy industrialists who exploited the system for everything it was worth. The Rockefellers, Fords, Morgans, and Vanderbilts were the “lords of creation” who, along with like-minded magnates, controlled the economic destiny of the country, unrestrained by regulations or moral imperatives. Through a combination of foresight, ingenuity, ruthlessness, and greed, America’s giants of industry remolded the US economy in their own image. They established their power and authority, ensuring that they—and they alone—would control the means of production, transportation, energy, and commerce—creating the conditions for the stock market collapse of 1929 and the Great Depression that followed.

As modern society continues to be affected by wealth inequality and cycles of boom and bust, it’s as important as ever to understand the origins of financial disaster, and the policies, practices, and people who bring them on. The Lords of Creation, first published when the catastrophe of the 1930s was still painfully fresh, is a fascinating story of bankers, railroad tycoons, steel magnates, speculators, scoundrels, and robber barons. It is a tale of innovation and shocking exploitation—and a sobering reminder that history can indeed repeat itself.
 
 
James Rickards
In 1971, President Nixon imposed national price controls and took the United States off the gold standard, an extreme measure intended to end an ongoing currency war that had destroyed faith in the U.S. dollar. Today we are engaged in a new currency war, and this time the consequences will be far worse than those that confronted Nixon.

 

Currency wars are one of the most destructive and feared outcomes in international economics. At best, they offer the sorry spectacle of countries' stealing growth from their trading partners. At worst, they degenerate into sequential bouts of inflation, recession, retaliation, and sometimes actual violence. Left unchecked, the next currency war could lead to a crisis worse than the panic of 2008.

Currency wars have happened before-twice in the last century alone-and they always end badly. Time and again, paper currencies have collapsed, assets have been frozen, gold has been confiscated, and capital controls have been imposed. And the next crash is overdue. Recent headlines about the debasement of the dollar, bailouts in Greece and Ireland, and Chinese currency manipulation are all indicators of the growing conflict.

As James Rickards argues in Currency Wars, this is more than just a concern for economists and investors. The United States is facing serious threats to its national security, from clandestine gold purchases by China to the hidden agendas of sovereign wealth funds. Greater than any single threat is the very real danger of the collapse of the dollar itself.

Baffling to many observers is the rank failure of economists to foresee or prevent the economic catastrophes of recent years. Not only have their theories failed to prevent calamity, they are making the currency wars worse. The U. S. Federal Reserve has engaged in the greatest gamble in the history of finance, a sustained effort to stimulate the economy by printing money on a trillion-dollar scale. Its solutions present hidden new dangers while resolving none of the current dilemmas.

While the outcome of the new currency war is not yet certain, some version of the worst-case scenario is almost inevitable if U.S. and world economic leaders fail to learn from the mistakes of their predecessors. Rickards untangles the web of failed paradigms, wishful thinking, and arrogance driving current public policy and points the way toward a more informed and effective course of action.




From the Hardcover edition.
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