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Discussion
As the world continues to struggle to find its footing amid rising unemployment, constricted credit, and crumbling banks and industries - raising questions about how the economic system collapsed - PBS presents Niall Ferguson's ASCENT OF MONEY. This ground-breaking four-part series examines the creation of the economic system by taking viewers on a global trek through the history of money. Watch Part 2 of the video and answer the following questions:
1. Do you feel that the financial markets play any role in financing, instigating, or creating wars among nations in the modern world? If yes, give some examples.
2. How do the concepts of credit and interest, as incorporated into banking and money lending, help to stimulate economic growth? Give one example of how you think it may have stimulated growth in medieval times, and one example of how it works today.
Video
Ferguson, N. (2009). The ascent of money [Video file]. Retrieved from https://www.youtube.com/watch?v=FDbPikepkiI
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