Why am I passionate about this?
Long before I studied economics, I remember being told in church that “money is the root of all evil.” Much later, when I was interviewing for my first professor-level position, I remember one of the interviewers saying, “I suppose everyone is interested in money.” We are not talking here about a fixation on accumulating money, but rather understanding the profound impact monetary policy has upon everyone in society. These readings show how pervasive the effects of bad monetary policy can be and how important it is to keep track of what is going on. Start with the first two chapters of Friedman’s Money Mischief and see if you can stop!
Richard's book list on if you didn’t think money matters
Why did Richard love this book?
In the west, China is often perceived as a recent entrant onto the world stage.
The sweeping historical perspective of this book quickly disavows any such notion. Horesh presents evidence of the significant circulation of Chinese coins across Eurasia under the Tang dynasty (618-907). This subsequently expanded to include India and Sri Lanka and even reached East Africa under the voyages of Zheng He (1371-1453). Horesh cleverly weaves the evolving situation in China over the centuries with that of the rest of the world and so the reader ends up with much more than just a Chinese-based history.
Perhaps the biggest takeaway, however, is that a global role for China's currency in the modern era would be no more than a return to the position it occupied in past epochs.
1 author picked Chinese Money in Global Context as one of their favorite books, and they share why you should read it.
Chinese Money in Global Context: Historic Junctures Between 600 BCE and 2012 offers a groundbreaking interpretation of the Chinese monetary system, charting its evolution by examining key moments in history and placing them in international perspective.Expertly navigating primary sources in multiple languages and across three millennia, Niv Horesh explores the trajectory of Chinese currency from the birth of coinage to the current global financial crisis. His narrative highlights the way that Chinese money developed in relation to the currencies of other countries, paying special attention to the origins of paper money; the relationship between the West's ascendancy and its mineral…