My favorite books that explore what money is, from beginning to Bitcoin

Why am I passionate about this?

I am an English professor, and for the past decade I’ve focused my attention on the fiction that is money. I’ve also been a magazine writer for many years and came to money by a circuitous route through writing about food, which led to writing about global hunger, which in turn led to writing about how food gets its price, which finally and lastly led me to the strange ways of Wall Street – options, futures, and the idea that money can be manipulated into a story, a narrative, or as we say in English departments, a plot.


I wrote...

The Money Plot: A History of Currency's Power to Enchant, Control, and Manipulate

By Frederick Kaufman,

Book cover of The Money Plot: A History of Currency's Power to Enchant, Control, and Manipulate

What is my book about?

Half fable, half manifesto, this brilliant new take on the ancient concept of cash lays bare its unparalleled capacity to empower and enthrall us.

The Money Plot tackles the complex history of money, beginning with the earliest myths and wrapping up with Wall Street’s byzantine present-day doings. The book pierces through the haze of modern banking and finance, demonstrating that the standard reasons given for economic inequality are contingent upon structures people have designed. It shines a light on the one percent’s efforts to contain a money culture that benefits them within boundaries they themselves are increasingly setting. And Kaufman warns that if we cannot recognize what is going on, we run the risk of becoming pawns and shells ourselves, of becoming characters in someone else’s plot, of becoming other people’s money.

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The books I picked & why

Book cover of The Great Transformation: The Political and Economic Origins of Our Time

Frederick Kaufman Why did I love this book?

This book showed me the way to alternative understandings of money, from one culture to another, over vast periods of time and space. An extraordinary read. Polanyi influenced a little-known school of economics, yet one that is becoming more and more relevant as our understanding of money is transformed by alt- and cryptocurrencies.

By Karl Polanyi,

Why should I read it?

11 authors picked The Great Transformation as one of their favorite books, and they share why you should read it.

What is this book about?

In this classic work of economic history and social theory, Karl Polanyi analyzes the economic and social changes brought about by the "great transformation" of the Industrial Revolution. His analysis explains not only the deficiencies of the self-regulating market, but the potentially dire social consequences of untempered market capitalism. New introductory material reveals the renewed importance of Polanyi's seminal analysis in an era of globalization and free trade.


Book cover of The Commercial Revolution of the Middle Ages, 950-1350

Frederick Kaufman Why did I love this book?

This is an academic book, but don’t let it scare you. As for me – it blew my mind! I had no idea of the level of economic sophistication and advance of Medieval Europe. Lopez explains in extraordinary detail the time period when our modern conception of money—as debt, as mortgage, as loans, and as an international object of commerce—was born.

By Robert S. Lopez,

Why should I read it?

1 author picked The Commercial Revolution of the Middle Ages, 950-1350 as one of their favorite books, and they share why you should read it.

What is this book about?

Professor Robert Lopez provides an incisive analysis of the economic structure of the Middle Ages. He makes use of modern economic concepts to explain how an underdeveloped economic system gave birth to the commercial revolution through which Europe succeeded in developing itself. The book goes far beyond the familiar picture of medieval European society, with its magnificent cathedrals and imposing castles, to concentrate instead on the walled cities and open countryside, for it was here that the revolution was born. Deftly and concisely, Professor Lopez traces the history of this remarkable economic upheaval which saw the rise of merchants and…


Book cover of Rabbit Is Rich

Frederick Kaufman Why did I love this book?

This is a novel from the “go-go ‘80s,” and delivers an insight into the money culture of modern middle class America. It’s a deep, comedic, and sad story of marriage, sex, gold, and dollars. The subtle characterizations gave me a strong sense of the human side of money, its emotional weight and valence—indeed, its pathos.

By John Updike,

Why should I read it?

1 author picked Rabbit Is Rich as one of their favorite books, and they share why you should read it.

What is this book about?

Winner of the Pulitzer Prize, the National Book Award, and the National Book Critics Circle Award
 
The hero of John Updike’s Rabbit, Run, ten years after the events of Rabbit Redux, has come to enjoy considerable prosperity as the chief sales representative of Springer Motors, a Toyota agency in Brewer, Pennsylvania. The time is 1979: Skylab is falling, gas lines are lengthening, and double-digit inflation coincides with a deflation of national self-confidence. Nevertheless, Harry “Rabbit” Angstrom feels in good shape, ready to enjoy life at last—until his wayward son, Nelson, returns from the West, and the image of an old…


Book cover of A Grammar of Motives

Frederick Kaufman Why did I love this book?

This is one of those lost academic works of genius of the 1950s, in which Burke, an English Professor, uses the idea of “grammar” to explain the motivations of characters in dramatic situations. This book inspired me to write about money as a quite literal “plot”—a way people tell stories about themselves and the universe.

By Kenneth Burke,

Why should I read it?

1 author picked A Grammar of Motives as one of their favorite books, and they share why you should read it.

What is this book about?

Mr. Burke contributes an introductory and summarizing remark, "What is involved, when we say what people are doing and why they are doing it? An answer to that question is the subject of this book. The book is concerned with the basic forms of through which, in accordance with the nature of the world as all men necessarily experience it, are exemplified in the attributing of motives. These forms of though can be embodied profoundly or trivially, truthfully or falsely. They are equally present in systematically elaborated or metaphysical structures, in legal judgements, in poetry and fiction, in political and…


Book cover of The Measure of Reality: Quantification in Western Europe, 1250-1600

Frederick Kaufman Why did I love this book?

This is one of the most lucid explanations of our modern culture of numbers, and deals with topics ranging from music and architecture to, of course, money. It was the “big think” book that most inspired me to consider money not as something in and of itself, but as an artifact of a culture, transformed by time, place, and the genius of individuals.

By Alfred W. Crosby,

Why should I read it?

1 author picked The Measure of Reality as one of their favorite books, and they share why you should read it.

What is this book about?

Western Europeans were among the first, if not the first, to invent mechanical clocks, geometrically precise maps, double-entry bookkeeping, precise algebraic and musical notations, and perspective painting. By the sixteenth century more people were thinking quantitatively in western Europe than in any other part of the world. The Measure of Reality, first published in 1997, discusses the epochal shift from qualitative to quantitative perception in Western Europe during the late Middle Ages and Renaissance. This shift made modern science, technology, business practice and bureaucracy possible.


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The Road from Belhaven

By Margot Livesey,

Book cover of The Road from Belhaven

Margot Livesey Author Of The Road from Belhaven

New book alert!

Why am I passionate about this?

Author Reader Secret orphan Professor Scottish Novelist

Margot's 3 favorite reads in 2023

What is my book about?

The Road from Belhaven is set in 1880s Scotland. Growing up in the care of her grandparents on Belhaven Farm, Lizzie Craig discovers as a small girl that she can see the future. But she soon realises that she must keep her gift a secret. While she can sometimes glimpse the future, she can never change it.

Nor can Lizzie change the feelings that come when a young man named Louis, visiting Belhaven for the harvest, begins to court her. Why have the adults around her never told her that the touch of a hand can change everything? When she follows Louis to Glasgow, she begins to learn the limits of his devotion and the complexities of her own affections.

The Road from Belhaven

By Margot Livesey,

What is this book about?

From the New York Times best-selling author of The Flight of Gemma Hardy, a novel about a young woman whose gift of second sight complicates her coming of age in late-nineteenth-century Scotland

Growing up in the care of her grandparents on Belhaven Farm, Lizzie Craig discovers as a small child that she can see into the future. But her gift is selective—she doesn’t, for instance, see that she has an older sister who will come to join the family. As her “pictures” foretell various incidents and accidents, she begins to realize a painful truth: she may glimpse the future, but…


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