The Ascent of Money

The Ascent of Money

In The Ascent of Money, author, economist and historian Niall Ferguson traces the evolution of money and demonstrates that financial history is the essential back-story behind all history. (Source: PBS)

Episode Info

Final: 1x03 -- Risky Business (Jul/22/2009)

The role of risk involved in the insurance world. Includes the inability to cover the payouts due from the catastrophe caused by hurricane Katrina; the origin of the insurance industry; how Japan transformed into a welfare state and it's consequences in the present day; Chile departure from the welfare state model in the 1970's; the derivatives market, and the extraordinary wealth it has led to as well as the implosion of such firms as AIG.

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