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Title: lacking
Review: Niall Ferguson does not seem to understand the difference between loans and credit. He uses the terms interchangably, but they are not the same thing. He also does not seem to realize that interest is not the only way a person can be compensated for lending money. Equity financing is a viable alternative to debt financing. Therefore his explanations of finance and monetary history are just more of the same old status quo thinking, which fails to give an adequate explanation of the past and the present and does not address the real problems with the monetary system.A better book is The End of Money and the Future of Civilization by Thomas Greco.The End of Money and the Future of Civilization.
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