The House of Rothschild: Volume 1: Money's Prophets: 1798-1848

Niall Ferguson, instead of his grand sweeping analyses of historical trends, instead aims for a grand sweeping analysis of how a merchant family from the German Jewish ghettoes became one of the richest and most powerful and secretive institutions in the world.

He does a remarkable job, analyzing correspondence and uncovering an enormous amount of detail, from the art patronage of the family to the collapse of the Spanish bond markets. Some might complain that there is a bit too much detail, but I am the kind of person who savors it.

The world of economics and banking and empire is unquestionably savage. Yet Ferguson portrays this misunderstood group in a very positive light. Some will find this controversial, naturally. I was very interested in this contrarian perspective, and hope to read the next half soon enough. ( )

3322. The House of Rothschild Money's Prophets 1798-1848, by Niall Ferguson (read June 28, 2000) This is the first half of the author's history of the Rothschilds. There is much interesting in the book, but not being very knowledgeable in international finance, and the author not really explaining it very well, some of the reading was chore-like. Overall, I was disappointed, and I doubt I'll read volume 2. ( )

Myth-breaker
Ferguson's book is really stunning, especially when viewed against the family's mythology. In Frederic Morton's The Rothschilds, for instance, we read that Nathan Rothschild, founder of the London branch, made his fortune by selling down British consols and then scooping then up at fire-sale prices. This was reportedly initiated when Nathan learned of Napoleon's final defeat at Waterloo. But in The House of Rothschild, we learn that Waterloo posed more difficulties than opportunities for the family. This book is definitely a must-buy for those interested in financial history.

(Posted in Amazon.com, July 25, 1999) ( )