Money beyond borders: a book review
I’ve read over 200 history books and biographies. The two great drivers of history are war and money. For a dose of military history, I recently read “The Dark Path” by Williamson Murray. A big take-home of that book was how often victory depended on superior finances. For economic history, I’ve read “ Money: The true story of a made-up thing” by Jacob Goldstein, “ The world for sale” by Jack Farchy and Javier Blas and “Our dollar, your problem” by Kenneth Rogoff. But to understand the history of international finance, I turned to “Money Beyond Borders: Global Currencies from Croesus to Crypto ” by Barry Eichengreen. This book begins with deep dives into the minting of Greek silver tetradrachms and Roman silver denarius, and the consequences of debasement by rulers like Nero. Both nations reached well beyond their borders with their coins, both through trade and by paying their far-flung militaries in coin.. Eichengreen argues that the fall of th...