The Ascent of Money - Video Documentary - Part 1 of 6

Professor Niall Ferguson examines the origins of the pillars of the world's financial system, and how behind every great historical phenomenon – empires and republics, wars and revolutions – there lies a financial secret.

Episode 1: Dreams of avarice

From Shylock's pound of flesh to the loan sharks of Glasgow, from the 'promises to pay' on Babylonian clay tablets to the Medici banking system, Professor Ferguson explains the origins of credit and debt and why credit networks are indispensable to any civilization.