fiction
MONEY
The True Story of a Made-Up Thing
By Jacob Goldstein
Of all the inventions we rely on to get through the day, nothing is as strange as money. Currency is a national bedrock that sits alongside anthems and flags; our cash — from pristine $100 bills to dog-eared 5 pound notes — seems solid, official and enduring. At the same time money is a confidence trick: an i.o.u. printed on cheap material that promises the holder nothing but more paper money. The evolving paradox of modern currency — foundational yet resting on faith — is the central theme of “Money,” a sweeping new history by Jacob Goldstein.
A health reporter during the mid-aughts, Goldstein describes being drawn toward money and economics by the beguiling turbulence of the 2008 crisis. Now a host of NPR’s “Planet Money,” he features that show’s trademark storytelling throughout his new book. Histories of money need lots of facts and dates; as a result many are turgid. “Money” is fast-paced and chatty: We meet all the characters an academic book would include, their ideas and innovations blended with scandal and gossip to propel the story along. The effect is a history of currency full of astonishing tales you might tell a friend in the pub.
The main thread is set out right away: Money “seems cold and mathematical and outside the realm of fuzzy human relationships,” Goldstein asserts. But it’s really “a made-up thing, a shared fiction. Money is fundamentally, unalterably social.” The early chronicles of cash show how societies move from monies with intrinsic value (commodity currencies, like salt, or coins made from precious metal) to paper currencies that are valuable because they are tools — ways to exchange goods and services.
nonfiction
The Fiction That Makes the World Go Round
continue newyork times
The True Story of a Made-Up Thing
By Jacob Goldstein
Of all the inventions we rely on to get through the day, nothing is as strange as money. Currency is a national bedrock that sits alongside anthems and flags; our cash — from pristine $100 bills to dog-eared 5 pound notes — seems solid, official and enduring. At the same time money is a confidence trick: an i.o.u. printed on cheap material that promises the holder nothing but more paper money. The evolving paradox of modern currency — foundational yet resting on faith — is the central theme of “Money,” a sweeping new history by Jacob Goldstein.
A health reporter during the mid-aughts, Goldstein describes being drawn toward money and economics by the beguiling turbulence of the 2008 crisis. Now a host of NPR’s “Planet Money,” he features that show’s trademark storytelling throughout his new book. Histories of money need lots of facts and dates; as a result many are turgid. “Money” is fast-paced and chatty: We meet all the characters an academic book would include, their ideas and innovations blended with scandal and gossip to propel the story along. The effect is a history of currency full of astonishing tales you might tell a friend in the pub.
The main thread is set out right away: Money “seems cold and mathematical and outside the realm of fuzzy human relationships,” Goldstein asserts. But it’s really “a made-up thing, a shared fiction. Money is fundamentally, unalterably social.” The early chronicles of cash show how societies move from monies with intrinsic value (commodity currencies, like salt, or coins made from precious metal) to paper currencies that are valuable because they are tools — ways to exchange goods and services.
nonfiction
The Fiction That Makes the World Go Round
continue newyork times
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