The Ascent of Money: A Financial History of the World

March 24, 2009 8:10 pm

The current U.S. originated housing slump and subsequent global recession has exposed the extraordinary extent to which the world is connected through money. The housing market was the basis for a sustained period of economic growth, most especially in the U.S. but in most other advanced capitalist countries as well. Home ownership dramatically increased, one effect of which was to propel the growth of home building related industries.

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