Ferguson begins with a list of different terms for money, stating that, whatever we call it, money matters. He then asks rhetorical questions about what money really is and how we got the system we have today. In 2007, the average income in the United States was not quite $34,000. Yet the top bankers make millions and hedge fund managers make billions. It may seem unfair, Ferguson writes, and throughout history there has been friction between those with little money and those with an abundance. He attributes this to three factors: 1) debtors outnumber creditors and have negative feelings toward them; 2) financial crises happen often enough that they seem like the cause of poverty and instability; and, 3)people from ethnic and religious minorities have often provided financial services throughout history. Nevertheless, “the ascent of money has been essential to the ascent of man” (2).

In fact, Ferguson asserts that “financial innovation has been an indispensable factor” in the development of civilization, just as much as technological innovation (3). Though we may not be aware of it, finances have played a role in every great historical event, such as Napoleon’s defeat at Waterloo. Indeed, the ascent of money has often seemed unstoppable.