Dense enough to keep you engaged, yet light enough to read on your summer holidays.
Feature image credit: Simon & Schuster
Many technological developments have been posited as ‘the one’: the technology that made humanity what it is today. For some commentators it’s language, for others fire, and for yet more others, cropping. For economist David McWilliams, it is money — money not just as a means of exchange, but as the manifestation of a vital socio-political contract, binding societies together.
Money draws on McWilliams’ years of experience in banking, both central and commercial. It is imbued with the accessible language and gentle humour for which he has become renowned through The David McWilliams Podcast, his writings for The Financial Times, and his annual economics and stand-up comedy festival (I swear I am not making this up!). He takes the reader through the history of money and money-adjacent technology, from the Ishanga Bone to crypto. Money is at heart quite a difficult concept to understand, and McWilliams does a solid job of explaining and to some extent demystifying this nebulous creature. If you want to be able to throw phrases like ‘quantitative easing’ out in conversation, then this is definitely the read for you!
What he does most splendidly is put money (or currency) into its earned place in human history, as both cause and effect of major movements in our social, cultural, cognitive, and even to some extent physical, evolution. Along the way he tells engaging stories of the American Revolution, Florentine merchants, Nazi forgers, and even the politico-economic message within The Wizard of Oz.
Where McWilliams falls down a bit is in his historic asides. Some of the contextual history he writes is at best simplistic and somewhat cliched. But where he sticks to the topic he knows, he is unfailingly engaging and rigorous. Although not as detailed as Jacob Goldstein’s recent book with a similar title (Money: The True Story of a Made-Up Thing), Money is nonetheless a highly entertaining and informative work of history, shedding new light on old questions.
Broken up into short sections, basically chronological, and with a wealth of beautiful colour plates, Money is a great read for anyone interested in history, economics, or politics.
Reviewed by Tracey Korsten
The views expressed in this review belong to the author and not Glam Adelaide, its affiliates, or employees.
Distributed by: Simon & Schuster
Released: October 2024
RRP: $36.99
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