Harry Kreisler welcomes Harvard historian Niall Ferguson for a
discussion of his new book, "The Ascent of Money: A Financial History
of the World." Drawing on insights from the biological sciences,
Ferguson describes the rise and evolution of finance focusing on
insurance, banks, and the bond market. Using the examples of housing
and the U.S. China economic relationship, Ferguson demonstrates the way
history can inform our understanding of the current financial crisis.
He also reflects on the implications of the financial crisis for
American global hegemony.