Money & Power: The History of Business

by Howard Means, Howard B. Means, CNBC Staff

The dramatic story of greed, money, power, and the moguls and dynasties that have shaped business From merchant ships to microchips, industry has been defined by the powerful business leaders who have caused seismic shifts in the growth of commerce. The companion book to the acclaimed CNBC documentary, Money and Power takes readers on a gripping journey following the movement of power from east to west-from the feudal estates of medieval Europe to the halls of modern finance, from the teeming streets of ancient Venice to the serene campuses of Silicon Valley-to tell the story of how business shaped the modern world, and how the goals of a few ambitious people paved the way to the wealth and prosperity shared by so much of the world's population today. A dramatic narrative focusing on the groundbreakers throughout history-from St. Godric, the twelfth-century monk reviled for his love of money to Bill Gates, the contemporary embodiment of money and power-traces the roots of banking, industry, commerce, and power. Fever-pitch moments in the book center around pivotal figures such as Cosimo de Medici, Philip II, the Rothschilds, J. P. Morgan, the Rockefellers, Henry Ford and others. The authors also extract important lessons about the strategies and tactics used to build these business empires.

Genres: Finance, Business, History

288 pages, Paperback

First published January 31, 2001

Reviews

[Paul · Rating 5 out of 5]

Wasn’t sure if this book would be a valuable read as its based on TV documentary, but luckily I did pick it up. The author provides a good, brief overview of business over the past 1000 years citing a few key examples. Always good to remember a few things from history classes of years past, and to pick up a few new bits of information. Overall a good quality read that will make one think about our economy.

- Why strive so hard to make what are so unlikely to be able to keep? p4. PJK. Pretty much sums up the difference between a socialist/communist vs capitalist system.
- Being free to pursue political fortune almost inevitably entailed the freedom to pursue economic fortunes. p5.
- Economic power frequently precedes and helps create political power, but business itself is often a trailing indicator of where politics is heading…. The inclusiveness that has come to increasingly characterize Western politics over the last century – of women and of minorities, most notably – has been far slower to invade the ranks of moguls, the dominating figures of commerce and industry. p6.
- What Godric seems to have been most of all, though, was a man caught in a dilemma. That dilemma – the intersection of values and money, and the search for meaning among conflicting definitions of success – would continue to trouble businesspeople throughout the millennium that Godric saw begin. p22.
- Banking died out for much of the Middle Ages because there was so little need of it. Without sufficient business activities, the institution simply withered. The assumption of economic risk, which underlies all banking, depends upon the possibility of economic opportunity. p33.
- Improvements in agricultural production and in the storage and transportation of food meant that for the first time in human history, average people could live at a significant distance for basic food sources. p85. PJK: never thought about this before, but clearly makes sense and is what allows for urban life today.
- Jupiter (aka JP Morgan) condensed this lesson for Congress: Credit, he told committee members, is not based primarily upon money or property. “The first thing is character and that money cannot buy… A man I do not trust could not get money from me on all the bones of Christendom.” p135. PJK: Another great concept; so true!
- Within days of introducing the new pay scale (raise of $5/day), Ford fired up to 900 Greek and Russian Orthodox employees who had stayed away from work to celebrate Christmas… To assure that its flow-production system ran unimpeded, the company restricted workers to a single 15-minute lunch break, including restroom time. p176. PJK: Is there any wonder why unions were created? Examples like these make it obvious why unions gained their power in that era of our country’s history.

[JD Morales · Rating 4 out of 5]

Entertaining, but it lacks depth.

[Chuck · Rating 5 out of 5]

A good overview of the history of Money and Finance. A good foundation for exploring the events of finance.

[Uldis Braunfelds · Rating 3 out of 5]

A brief description of the most successful business in the world history. Strong American.

[Ayoola · Rating 2 out of 5]

nice..should be a good read

[Mano Chil · Rating 4 out of 5]

It is such an easy book to read and very enjoyable.

If you want to understand some of the philosophical minds of each of the billionaires this is a good book to start reading about.