Updates

  1. Person pages list letters, writing, profiles and links as sortable tables with filters, and show each person's companies as links; Fund letters show each letter's description in its own column.
  2. Experts show a checked job title and a short description of each person; 30 more people have photographs.
  3. Every company, fund, university and publication the experts work for has a page listing the people there.
  4. Fund letters show each letter's thesis and filter by it; 225 person pages list the essays, columns and newsletter issues the person wrote.
  5. Person pages list every essay and newsletter issue a person wrote, and their own books as a table in List view.
  6. Recommends shows the five largest kinds of book and the rest under More; browse pictures load sooner.
  7. Podcasts and talks link the original episode, filter by Audio and video or Press, and list each publisher once.
  8. Pages are wider, Recommends has List and Grid, and a filter clicked again turns off.
  9. Book cards sit in a ruled grid with Open Library and Goodreads links and each book's one-line note.
  10. Funds is now Investors; each investor's styles are buttons that filter the table.
  11. Podcasts and talks on a person's page filter by year and publisher and show as a list or a grid of pictures.
  12. Quotes show only people's own words: 472 summaries written by list sites are gone.
  13. Country pages open from Browse again, and every link on the shelf lands on a page.
  14. Subject and person pages show their sections as tabs, and each book appears once on a person's page.
  15. Book cards show the quote, who said it and the source; grids show five cards to a row.
  16. On a phone, a menu holds the sections, search, Updates, Feedback and dark mode.
  17. Feedback takes a screenshot of the page with no browser prompt, opens a screenshot full size when you click it, and clears itself once sent.
  18. Book cards are centred, search names the topic each book sits in, and any text cut short shows whole on hover.
  19. Search groups its results by kind: people, companies, geographies, subjects, topics, books, funds, fund letters and papers.
  20. The Books table lists who recommended each book by name, and the browser tab names the section you are in.
  21. Feedback can take a screenshot of the page, or one you paste or choose, and opens in the corner beside Updates.
  22. Each rail button reopens its section where you left it, and Browse, Table and People show on every book and subject page.
  23. Filters grey out choices that hold nothing instead of hiding them, and Books › People filters by authors or recommenders.
  24. Feedback takes a subject line and up to three screenshots.
  25. Biographies are grouped by the person they are about: 41 new pages, from Abraham Lincoln to Lee Kuan Yew.
  26. Sport splits into 23 sports, and Religion into one topic per faith.
  27. Book lists show as cards: the cover, one recommendation quote and every recommender by name.
  28. Seventeen subjects that had two or three pages under different names now have one page each.
  29. Every page lists its Experts as authors and recommenders, with a link to them on the Experts tab.
  30. Economics, Financial history, Financial panics and Accounting are subjects of their own, with one page per financial crisis.
  31. Book, person and subject pages open inside the app, so the tabs stay in view.
  32. 996 more book covers, and photographs or logos for 227 more people and companies.
  33. Books › Browse shows every subject as cards, and the rail holds Fund letters, Papers, Experts, Books and Funds.
  34. Every topic over 150 books splits into narrower topics, each with a page of its own.

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MC

Money, credit and inflation

Histories of money, gold, interest rates, credit, central banks, sovereign debt and hyperinflation.

Start here

  1. The Ascent of MoneyNiall Ferguson, 2008
  2. Lombard StreetWalter Bagehot, 1873
Walter Bagehot · 1873

How the London money market worked, and why a central bank lends freely in a panic.

Constantino Bresciani-Turroni · 1937

An economist's first-hand analysis of Germany's inflation from 1914 to 1923.

Milton Friedman, Anna Jacobson Schwartz · 1963

The US money stock from 1867 to 1960, and how changes in it drove prices and income.

Charles P. Kindleberger · 1984

European finance from the Middle Ages on: money, banking, markets and public debt.

Barry Eichengreen · 1992

How the gold standard spread the Depression, and why leaving it early meant recovery.

Milton Friedman · 1992

Episodes from Yap's stone money onward showing that inflation comes from money.

Barry Eichengreen · 1996

Money between nations from the gold standard to floating rates and the euro.

Barry Eichengreen, Marc Flandreau · 1997

Key academic papers on how the gold standard worked and why it broke down.

Allan H. Meltzer · 2003

The Fed from 1913 to 1951, told from its own minutes and internal memos.

Ron Chernow · 2004

Hamilton's life from the West Indies to the Treasury and his duel with Aaron Burr.

Barry Eichengreen · 2011

How the dollar became the world's currency, what it gives the US, what may follow.

Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, Kris James Mitchener · 2021

Sovereign borrowing from Italian city-states to the pandemic, and what it paid for.

Carl-Ludwig Holtfrerich · 1986

Germany's 1914 to 1923 inflation, with a more sympathetic view of its policy.

Steven B. Webb · 1989

Monthly data tested against explanations of Germany's 1919 to 1923 inflation.

Gerald D. Feldman · 1993

The full political, social and economic history of Germany's 1914 to 1924 inflation.

Peter Bernholz · 2003

Inflation across history, and which monetary and political regimes produce it.

Niall Ferguson · 2008

The history of finance by instrument: credit, bonds, stocks, insurance and property.

David Marsh · 2009

The politics of the euro from postwar plans to its first decade.

Benn Steil · 2013

The 1944 Bretton Woods conference as a contest between Keynes and Harry Dexter White.

Charles W. Calomiris, Stephen H. Haber · 2014

Whether a nation's banks are stable or crisis-prone is decided by its politics.

Mauricio Drelichman, Hans-Joachim Voth · 2014

Why bankers kept lending to Philip II of Spain despite four payment suspensions.

William N. Goetzmann · 2016

Finance as a technology that built civilisation, from clay tablets onward.

Recommended by: Nick Szabo

Saifedean Ammous · 2018

Sound money must hold value over time, and Bitcoin's fixed supply makes it such.

Charles Goodhart, Manoj Pradhan · 2020

Disinflation came from a one-time surge in workers; ageing will reverse it.

Roy W. Jastram · 1977

The long-run purchasing-power series that grounds gold inflation-hedge claims.

Murray N. Rothbard · 2002

US money from colonial paper to the Fed, read as bank-and-state booms and busts.

Leo Goodstadt · 2007

How Hong Kong's banks and bank crises shaped the miracle economy.

Robert J. Samuelson · 2008

America's 1965-1982 inflation, its defeat under Volcker and what followed.

Marc Chandler · 2009

Working FX strategist on what actually moves the dollar.

James Rickards · 2011

Popular account of competitive devaluation as policy.

Frederick Taylor · 2013

Modern retelling with more on the stabilisation and the Rentenmark.

Philip Haslam, Russell Lamberti · 2014

First-hand accounts of trading, saving and pricing through the collapse; the modern companion to Fergusson.

David Kynaston · 2017

The Bank of England from 1694, by its best narrative historian.

Ben S. Bernanke · 2022

Insider account of the Fed from Burns through the QE era.

Benjamin Graham · 1937

Subtitled A Modern Ever-Normal Granary; commodity-reserve currency plan.

Recommended by: Mohnish Pabrai

Sidney Homer, Richard Sylla · 1963

Interest rates from Babylonian lending through Rome and Europe to modern bonds.

Recommended by: Mohnish Pabrai

Adam Fergusson, Adam Fergusson, Adam FERGUSSON · 1975

What Germany's 1921 to 1923 hyperinflation did to ordinary people's lives.

Recommended by: Balaji S. Srinivasan

Adam Smith · 1981

The 1970s disorder: the end of Bretton Woods, oil shocks and petrodollar loans.

Recommended by: Mohnish Pabrai

William Greider · 1987

The Volcker Fed from the inside; still the fullest political account.

Recommended by: Mohnish Pabrai

David Hackett Fischer · 1996

Eight centuries of price revolutions and what ended each one.

Peter L. Bernstein · 2000

Gold from ancient Egypt and Lydian coins to the end of Bretton Woods.

William Goetz · 2005

Financial innovations, from Mesopotamian interest and Chinese paper money onward.

Recommended by: Mohnish Pabrai

Nathan Lewis · 2007

Hard-money argument for a return to a gold link.

David Graeber · 2011

Debt came before money and barter, and its history is one of forgiveness and revolt.

Recommended by: Patrick Collison

Paul A Volcker · 2018

The Fed chair's memoir of his career at Treasury and the Fed, and beating inflation.

Roger Lowenstein · 2015

How the Federal Reserve was argued into existence, from the 1907 panic to 1913.

Recommended by: Seth Klarman

Felix Martin

Recommended by: Emmett Shear

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