Niall Ferguson's book, "The Ascent of Money," discusses the increasing integration of global financial markets and its implications for individuals based on their financial understanding. As markets become more interconnected, opportunities arise for those who are financially savvy, enabling them to capitalize on investments and grow their wealth, regardless of their geographical location.

Conversely, the same integration poses significant risks for those lacking financial knowledge. The gap between the financially literate and the financially illiterate may widen, leading to downward mobility for those who do not understand market dynamics. Ferguson emphasizes the importance of financial education in navigating this complex landscape to avoid potential pitfalls and achieve economic stability.