Customer Reviews

An Analysis and History of Inflation

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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!

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.