Introduction
In part 1 of The Ascent of Money, Harvard University’s Professor Niall Ferguson explains how the concepts of money and banking came into existence. He explains this in the context of the 2008 global financial meltdown. This part of the documentary lays the groundwork that will enable the narrator explain how the effect of bankruptcy of a few institutions could impact so heavily and widely on the financial system. The existence of banks in the financial system as a link between lenders and borrowers is critical to the survival of the concept of money. Yet the strength of the financial ...
