Gain more insight into this assertion by ordering a copy of this book today. Additional Details Series Volume Number. Table Of Content Foreword by Dr. Preface to the Fourth Edition.
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Prehistoric and Primitive Credit and Interest. Sumer, Babylonia, and Assyria. Medieval and Renaissance Europe. Modern Europe and North America to England in the Eighteenth Century. Europe in the Eighteenth Century. England in the Nineteenth Century.
France in the Nineteenth Century. Other European Countries in the Nineteenth Century. Published August 1st by Wiley first published To see what your friends thought of this book, please sign up. To ask other readers questions about A History of Interest Rates , please sign up.
Be the first to ask a question about A History of Interest Rates. Lists with This Book. Jul 17, Matthew rated it it was ok Shelves: Have finally, finally plodded through this book. Otherwise this is largely simply data -- good to know its there for retrieval if necessary, but otherwise skimmable.
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A financial classic it may be, but the chief benefit I have obtained from getting through it appears for now to be able to say that I have. T Have finally, finally plodded through this book. The structure is chronological and starts from ancient Mesopotamian times, running through to Roman and then medieval times.
IMO one can begin at chapter 10, which is when the chapters on th century European finance Italian banking, etc begin. There is also good analysis of Dutch and then English finance as being the cornerstones of the credit markets as we know them today -- Holland being the originator of long term sovereign debt and England being where modern deposit taking banks were started.
Book Review: A History of Interest Rates
The history moves on to the US for the 19th century, and the chapters on 20th century US finance are unsurprisingly the longest. There are brief relatively chapters on 20th century British, then European finance. Following which is a section on non European finance -- Japan, Russia, China, Latin America -- which is somewhat interesting.
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Perhaps more pertinent or at least less abstract, since it is more recent is the final chapter, added for the 4th edition, a review of bond market history. The book is note worthy for its methodology -- the data gathering efforts are certainly admirable, and there are interesting and thought provoking caveats about how centuries long yield charts were constructed -- given the multiple changes in financial and political systems, let alone maturation and variety of instruments -- and whether or not they are comparable.
Generally long term prime rates are used: The chief question I am left with is why bond yields declined during WWII in the US as well as in the UK, compared to all previous military episodes during which bond yields rose as the warring nations or feadual princes were financially stretched. Mar 07, Lewis Johnson rated it it was amazing Shelves: This book should be required reading for all investors. Not just bond investors but all investors.
Homer pioneered the thoughtful study of bonds and interest rates. This book is his Magnum Opus, covering interest rates from early Mesopotamia to this death in the s. Interest rates are at the core of the capital markets and as such represent the core of the all the major movements in the world's financial markets, as trends propogate out from the less risky tranches of the bond market, to t This book should be required reading for all investors.
Interest rates are at the core of the capital markets and as such represent the core of the all the major movements in the world's financial markets, as trends propogate out from the less risky tranches of the bond market, to those with more risk, and finally to the equity market. In my career I have learned that truth most often resides in the bond market rather than the equity market. As such this book is the root of any real study in bonds. This is where to begin. This book is a must for those that like economic history. I really enjoyed it. If you want, you can find it here: Not all books are good, and not every book is right for everyone, and I try to make that clear, rather than only giving positive book reviews on new books.
I review old books that have dropped of the radar as well, like this one, because they are often more valuable than what you can find on the shelves at your local bookstore.
A History of Interest Rates : Sidney Homer :
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