A history of interest rates

This book presents a comprehensive analysis of interest rates from ancient times to the modern era.

Despite the limited data before the Industrial Revolution, the authors offer a highly detailed examination of money markets and borrowing practices in major economies.

The book asserts that free market long-term interest rates serve as a 'fever chart' of a nation's economic and political health, highlighting the significant volatility of rates in the 20th century and its implications for understanding economic and political excesses.