A History of Money : From AD 800

Rating:
Summary: Entertaining but not a reference
Review: Chown, a practitioner instead of an academic, is wise and pithy, covering a lot of territory from Charlemagne to the end of the 19th century. He wisely gives equal time to coins, paper money, and bank deposits. He knows the academic literature, but writes mainly for educated laypeople. The book is fun to read, but is too short and anecdotal to be a reference. But you will learn that many 20th century controversies in monetary affairs go back to the Middle Ages and Renaissance. See how playing sleight of hand with banks and paper money has proven seductive for generations. The terminology changes, but not the dilemmas and temptations. And wisdom is likewise of long date, namely the work of Richard Cantillon around 1720, David Hume around 1750, and Henry Thornton in 1802.

Better books in this vein include Jim Grant's Money of the Mind", and Glyn Davies's "A History of Money from Ancient Times to the Present Day." Somebody should also bring Lloyd Mints's "History of Banking Theory" back in print.