The editor’s note included in one version of this historic work explains well why this book is still recommended by so many economists, entrepreneurs, and historians.
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If you want to understand the early theories related to the basic mechanics of economics, An Inquiry into the Nature and Causes of The Wealth of Nations is the most direct route. That said, the insights provided and the backdrop of nearly 2,000 years of European and American history provide more than enough interest to make The Reckoning a worthwhile read.Īdam Smith’s 1776 classic is still widely read for good reason. Soll opts to focus on Western accountancy and finance, so readers should be aware that this historical account is not internationally comprehensive. Less of a technical history and more of a social and political one, The Reckoning is accessible and entertaining enough for casual readers but interesting enough for industry professionals who want to learn about the roots of their profession. Soll writes about not only about the role that accounting plays in global affairs but also how financial transparency and ideas about what financial systems owe the people whom they serve have evolved over time.
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Throughout The Reckoning, Soll guides the reader through well-known historical events and enlightens them on the bookkeeping machinations and clever accounting behind such affairs as the Italian Renaissance, the French Revolution, and the 2008 recession. In his sweeping work The Reckoning: Financial Accountability and the Rise and Fall of Nations, historian and MacArthur Genius Grant winner Jacob Soll charts the development of modern global economics beginning with the dawn of accountancy during the Medici reign.