This is a straight-forward, readable account, written with the minimum of jargon, of the central importance of money in the ordinary business of the life of different peoples throughout the ages from ancient times to the present day.
First published in hardback in 1994 and selected by the American Libraries Association as an Outstanding Academic Book. This revised and updated paperback edition also deals with the Barings crisis and the report by the Bank of England on Barings Bank; up-to-date information on the state of Japanese banking; changes in the financial scene in the US; the UK housing market and the problem of negative equity. The paradox of why more coins than ever before are required in an increasingly cashless society is clearly explained, as is the role of the new Euro' coin as the lowest common denominator in Europe's controversial single currency system. The final section provides evidence to suggest that for most of the world's richer countries the era of persistent inflation may well be at an end.