“Money – The Unauthorized Biography–From Coinage to Cryptocurrencies
” by economist and asset manager Felix Martin answers the questions: what is money, and how does it work?The author challenges our conventional understanding of one of humankind’s greatest inventions. Martin describes how the Western idea of money emerged in the ancient world, and was shaped over the centuries by tensions between sovereigns and the emerging middle classes. Money, he argues, has always been an intensely political instrument, and that it is our failure to remember this that led to the crisis in our financial system and the Great Recession. He concludes with practical solutions for making money serve us and a discussion of what Bitcoin and other cryptocurrencies mean for money’s future.