About The Blog

Debate at the intersection of business, technology and culture in the world of digital money, both commercial and government, a blog born from the Digital Money Forum in London and sponsored by Consult Hyperion



  • Add to
Technorati Favorites


  • Creative Commons

    Attribution Non-Commercial Share Alike

    This work is licensed under a Creative Commons Attribution - Noncommercial - Share Alike 2.0 UK: England & Wales License.

    Please note that by replying in this Forum you agree to license your comments in the same way. Your comments may be edited and used but will always be attributed.

« Paying for innovation | Main | Pieces of eight bits to the byte »

On the ascent

By Dave Birch posted Jan 12 2009 at 12:20 PM

[Dave Birch] We were chatting in the office earlier about something I saw on the Niall Ferguson series on the "Ascent of Money" on Channel 4. Well, actually I watched it on Virgin V+ "Catch Up TV", but you know what I mean. It's not bad. In one of the episodes (about property) he said in passing something like "it's always happened before". In the business of money, unlike the in technology of money, no-one ever learns. I made this point over on Kashklash recently, using the story of Northern Rock and the Goldsmid brothers to illustrate the point.

Note that this case of the Goldsmids is not “similar” to that of the Crock, nor is it “analagous” to it, nor is it a “metaphor” for it. It was exactly the same. In every respect.

[From kashklash:: exchanging the future » Blog Archive » Technology is progressive, finance is cyclical]

Anyway, with my current focus on innovation -- I'm helping the CSFI to plan the first round table in the Visa Europe Research Fellowship series for 22nd January -- it set me thing (again) about the cyclical nature of the finance business. Is there something I need to take account of here: I haven't quite put my finger on it yet, but is there a connection between the stepwise march of technology and where it intersects with the circle of financial services evolution? Perhaps there are some points on the circle where the new technology gains purchase, and some where it is flung away. I need to work on my analogies!!

The series was a companion to Ferguson's book of the same name. I happen to have a spare copy of this valuable volume on my desk even as I write and I shall be more than happy to send it to the first person to respond to this post with the name of the American who added the little wooden houses and hotels to the game of Monopoly, thus creating the modern version familiar to all.

In the traditional fashion, this competition is open to all except for employees of Consult Hyperion and members of my immediate family, is void where prohibited and is fully recyclable. The prize must be claimed within one month. Oh, and no-one can win more than one of the Digital Money Blog prizes per calendar year.

These opinions are my own (I think) and presented solely in my capacity as an interested member of the general public [posted with ecto]


TrackBack URL for this entry:

Listed below are links to weblogs that reference On the ascent:


We have a winner! Send me a postal address Matt and the book will be dispatched forthwith, if not sooner.

Was it Charles Darrow?

The comments to this entry are closed.