An Analysis and History of Inflation [Hardcover]

Don Paarlberg (Author)

Book Description

Publication Date: December 30, 1992 | ISBN-10: 0275944166 | ISBN-13: 978-0275944162

This history and analysis examines fifteen great inflations--from Ancient Rome to the French Revolution to post-World War I Germany to modern-day Brazil--to provide an understanding of the causes of inflation. A unique feature of the book is the evidence presented that a moderate degree of inflation is usually accompanied by increased economic activity. Contrary to the views of many, moderate inflation appears to be welcomed by most people and assists in returning incumbent political leaders to power. In addition, the money illusion, the belief that money has constant value over time, is shown by the author to be grievously in error. Presenting views which are at odds with much of mainstream economics, Paarlberg concludes that inflation is caused by an excess of money, and since the creation of money is a government monopoly,governments are responsible for inflation. Additionally, various macroeconomic theories are unable to account for gyrations of production and prices. The best explanation for these matters, therefore, is to be found in institutional economics, which takes into regard whatever forces exist rather than focusing on a select few while purporting to hold others constant. This thoughtful work will be of interest to scholars, students, and laypersons in economics and economic history.

Editorial Reviews

Review

“The 15 case studies are brief and interesting. A selected and useful reading list is included for each case.”–Choice

About the Author

DON PAARLBERG is Professor Emeritus in the Department of Agricultural Economics at Purdue University. In addition to teaching, he has served in the administrations of Presidents Eisenhower, Nixon, and Ford. Dr. Paarlberg is the author of seven books including, Great Myths of Economics (1968) and Toward a Well-Fed World (1988).

Product Details

• Hardcover: 208 pages
• Publisher: Praeger Publishers (December 30, 1992)
• Language: English
• ISBN-10: 0275944166
• ISBN-13: 978-0275944162
• Product Dimensions: 9.8 x 6.2 x 0.8 inches
• Shipping Weight: 1.1 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #1,138,841 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

10 of 10 people found the following review helpful:

5.0 out of 5 stars How your money is going to be inflated, August 6, 2007

By 

Readalot (SC USA) - See all my reviews

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This review is from: An Analysis and History of Inflation (Hardcover)

This is a great book! I been looking for a book that would give me insight on how inflation is started and how it ends, as well as arguments for and against the gold standard, etc. I've read bits and pieces of this book's wisdow in a number of other books and articles, but this pulls it all together. From this book I got true insights on why inflation is basically unavoidable in any country: given time something is going to happen (usually war) or someone is going to come along to convince a population's leaders to debase the money supply - no matter what money standard you are on. Rome had a type of gold standard, the US had a gold standard, etc. People make the standard, people can change the standard.

I know this sounds overly simple, but inflation is too much money pursuing too few goods/services. And the early effects of inflation are the forbidden fruit that few politicians can bear. (Note: Makes you wonder why the Fed did away with the M3 measure for the money supply.) If you want to understand inflation, I can think of no better way than to review 15 examples. Thanks Paarlberg!

7 of 7 people found the following review helpful:

5.0 out of 5 stars I have read this book again and again for ten years., January 22, 2004

By 

Ta Yu Yuan (Montreal, QC, CANADA) - See all my reviews
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This review is from: An Analysis and History of Inflation (Hardcover)

Allow me to pay respect and compliment to Mr. Don Paarlberg here. Mr. Don Paarlberg has an insightful understanding of human nature and their behavior that his examination and explanations of inflation history grab my intention very time I read this book. They make a lot of senses and transform my knowledge of economics into a penetrating understanding of human behavior and reactions to certain events. Mr. Don Paarlberg elevates my perspective toward macro-economics to a higher level, that of a human behavioral one, and certainly broadens my eyesight with regard to how human nature and human behavior did not change over the past two thousand years or so in terms of what people would do in reaction to price drivers. Lastly, I appreciate Mr. Don Paarlberg's exquisite, precise, and concise way of writing, something much less seen nowadays. Thank you, Mr. Don Paarlberg.