This second volume of Niall Ferguson's acclaimed, landmark history of the legendary Rothschild banking dynasty concludes his myth-breaking portrait of one of the most powerful and fascinating families of modern times. With all the depth, clarity and drama with which he traced the Rothschild's ascent, Ferguson shows how their power waned as conflicts from Crimea to the Second World War repeatedly threatened the stability of their worldwide empire, and how their failure to establish themselves successfully in the United States would prove fateful. At once a classic family saga and a major work of economic, social and political history, this is the definitive biography of some of the most powerful financiers of recent times.

About the Author

Niall Ferguson is Professor of International History at Harvard University, Senior Research Fellow of Jesus College, Oxford University, and a Senior Fellow of the Hoover Institution, Stanford University.

Reviews

Ferguson is not only publishing massive works of history at an astonishing rate; he is publishing well-written and controversial books. The Pity of War (Forecasts, Mar. 8) caused a stir by arguing that Britain bore the brunt of the blame for WWI. The completion of his two-volume history of the Rothschild banking empire begins at a high point of wealth, power and civic involvement, with Benjamin Disraeli a close family friend and Lionel Rothschild playing a leading role in gaining Jews the right to sit in Parliament. The book ends with the post-WWII rebuilding of the Rothschilds into a far-flung "mini-multinational." Drawing on thousands of letters from private Rothschild archives, Ferguson does a masterful job of showing how the Rothschild financial empire interacted with the governments of Europe. His account is peppered with countless refutations of previous interpretations and analyses. Yet the larger historical picture is often blurred as Ferguson furnishes blow-by-blow accounts of, for example, the French Rothschilds' ultimately successful decades-long battle against the Cr‚dit Mobilier. Readers will be left wanting more analysis of the larger sea change that consigned the Rothschild style of private banking to its current secondary status. And while he follows the senior partners in Britain and France (other houses, in Naples, Vienna and Frankfurt, either closed or simply receded from Ferguson's view), Ferguson sticks to their public deeds and roles, rarely venturing into the personal or the psychological. Still, this history is teeming with soundly argued expositions on the role of a singularly important family. Illus., charts, tables, appendices. (Nov.) FYI: In November, Penguin will publish The House of Rothschild: Money's Prophets 1798-1848 in paperback. Copyright 1999 Cahners Business Information.

In this sequel to The House of Rothschild: Money's Prophets 1798Ä1848 (LJ 10/15/98), Ferguson takes the Rothschild consortium from its zenith in the mid-1800s to the present day. In his view, the fundamental lesson of the Rothschild history is that the world evolves; over time, it is difficult to maintain superiority in any area, banking included. (Superiority, of course, is a relative term.) Risk and finance go hand in glove, and as the Rothschild consortium aged, it grew more and more "establishment," formally participating in government affairs. At the same time, it was unable to establish a beachhead on American shores, which ultimately led to its diminished importance in banking on an international scale. For students of economic history, this is a fascinating volume, but other readers will find this hard going. Recommended only for specialized collections.ÄSteven Silkunas, Southeastern Pennsylvania Transportation Authority, Philadelphia Copyright 1999 Cahners Business Information.