The Ascent of Money


Answer the questions below , from the book i have attached, it is until page 155. that is Introduction and first two chapters of The Ascent of Money by Niall Ferguson.The questions should be made into an integrated essay. Questions What is money? What are its three functions?

Fractional reserve banking is one of the fundamental financial innovations of the past 350 years. What is it? How does it work? Why is it important? What are the risks associated with it?

James Carville is quoted in The Ascent of Money as saying, “I used to think if there was reincarnation, I wanted to come back as the President or the Pope or a .400 baseball hitter, but now I want to come back as the bond market. You can intimidate everybody.” What is a bond? What is the bond market? How and why is it so important?



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