This episode discusses bonds and the effect of bond financing on the monetary system. More of Niall Ferguson’s excellent work to come.
Understanding the Herd = Psychological Advantage
This is the first episode in a a six part video series by Niall Ferguson, who is an historian and a professor at Harvard Business School. It’s based on the excellent work presented in his book The Ascent of Money. Understanding money is, of course, essential to being a tycoon (can you name a tycoon who didn’t or doesn’t have a lot of money?) Though long, this series is worth the time. It highlights how herd psychology plays a role in the boom and bust cycles of our economy and does a good job explaining the overall complexities of the monetary system. It’s the first step in gaining a psychological advantage over money and the supposed rules of our monetary system. I dare say it will leave you wanting more!