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Money: How the Destruction of the Dollar Threatens the Global Economy – and What We Can Do About It Hardcover – May 13, 2014


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Product Details

  • Hardcover: 272 pages
  • Publisher: McGraw-Hill; 1 edition (May 13, 2014)
  • Language: English
  • ISBN-10: 0071823700
  • ISBN-13: 978-0071823708
  • Product Dimensions: 9.2 x 6.4 x 1 inches
  • Shipping Weight: 1.1 pounds (View shipping rates and policies)
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (55 customer reviews)
  • Amazon Best Sellers Rank: #10,883 in Books (See Top 100 in Books)

Editorial Reviews

Review

"A true gem of a book . . . Lucid, informative, timely.” (The Wall Street Journal)

From the Back Cover

"Money clearly illustrates that sound money is an essential foundation for a free and prosperous society and that the Federal Reserve's current policies are a greater threat to the economic future of the U.S. than government deficit spending. This is an important book well worth reading."
John A. Allison, President and CEO, Cato Institute, and author of the New York Times bestselling The Financial Crisis and the Free Market Cure

"Few topics today are as misunderstood as the subject of money. Steve Forbes understands money better than most heads of state do, and in this provocative book he shares his vast knowledge and gives us sensible and time-tested recommendations for stopping future financial meltdowns."
Lawrence Kudlow, CNBC Senior Contributor

“Economic and monetary policies can be difficult to master for even the savviest politicians. Money effectively communicates these complexities into a cohesive argument for economic recovery and preventing a new financial crisis. Steve Forbes and Elizabeth Ames deliver a gripping read and an intriguing viewpoint on how to get our economy back on track.”
Greta Van Susteren, host of On the Record, Fox News Channel

"In this fascinating book, Steve Forbes makes the case for sound money and shows why a money system based on free trade--a system that allows the entrepreneurial dream to flourish--is not just good business; it also makes for a good society. Money is a rock-solid argument for the virtues of capitalism."
John Mackey, Co-founder and Co-CEO, Whole Foods Market; coauthor of the New York Times bestselling Conscious Capitalism

“Forbes and Ames’s case can be persuasive, especially on stimulus and inflationary risk.”
Publishers Weekly


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Customer Reviews

It's well worth your time and energy.
Bowyer
I sincerely hope that some of our elected officials in Washington will read this book – and learn from it!
Mike
This book was very easy to read and very informative.
Newsguy

Most Helpful Customer Reviews

39 of 39 people found the following review helpful By Paul A. Mastin TOP 1000 REVIEWER on June 3, 2014
Format: Kindle Edition
Anyone who has read Steve Forbes's columns in Forbes or any of his prior books will not be surprised that his new book, Money: How the Destruction of the Dollar Threatens the Global Economy--and What We Can Do About It, is well-written, accessible to the non-specialist, and quite convincing. He and Elizabeth Ames, with whom he has collaborated on several prior books, make a solid argument for a return to sound money.

Forbes and Ames argue that the economic problems of the last several decades are the result of the lack of stable currency, and that the means to a stable currency is the gold standard. "Without an economy based on stable money," they argue, "we will face an ever bigger government, stagnation, and ever more severe political troubles." That sounds pretty much like the story of the last 40 years, since Nixon abandoned the gold standard.

Money describes what money is: a measurement, a signal, basically information. Without a measure of what things are worth, transactions turn chaotic. Could a butcher sell his meat if the number of ounces in a pound was in constant flux? Could a builder build a house if he wasn't sure how many inches are in a foot this week? By the same token, an economy without a stable measure of value is subject to the whims of, well, the Federal Reserve.

Forbes and Ames are highly critical of quantitative easing, the most recent move to weaken the dollar. They write, "QE did not just fail as a stimulus. It prevented recovery by causing a destructive misallocation of credit" and caused "spikes in the prices of commodities that raised the cost of food and fuel, inflaming political divisions and unrest in many developing nations." Proponents of QE are followers of John Maynard Keynes's theories.
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22 of 22 people found the following review helpful By George Gilder on June 14, 2014
Format: Hardcover
Steve Forbes is America's supreme teacher of economics. In this book, he illuminates a subject that baffles the entire economic profession and for years confounded me--the nature of money as a fount of information. Money is not a source of the power of government; it was created by entrepreneurs as a standard of measure above the reach of policy. Changing the value of the dollar is like changing the length of a ruler during the course of constructing a bridge, or the duration of the second or hour during the midst of a marathon. It does not "ease" anything; it is merely an abuse of authority by mendacious central banks and governments.

For years I resisted Forbes's arguments, believing instead Milton Friedman's case for monetary policy and floating currencies as a necessary stabilizer of trade imbalances and economic volatility. But Forbes' relentless lucidity and sage insight broke down my defenses. This book takes charge of the debate and offers luminous answers to Friedman and to me. Money is a source of information and to manipulate it in the name of balance befogs the horizons of the economy, slows investment and growth, and stultifies entrepreneurs by lying to them about the real conditions of supply and demand. Trade is stimulated by a stable currency rather than by a specious one, and the greatest periods of trade expansion have come under a global regime of gold based money.

Arguing that money, like taxes, should be flat, Forbes, with venerable co-author Elizabeth Ames, explains with magisterial lucidity why low interest rates retard economic growth, why a weak dollar impedes trade and prosperity, why manipulation of the currency destroys productivity, and why 'quantitative easing' is a $500 billion windfall for big government and its cronies.
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25 of 26 people found the following review helpful By William A. Dalcol on June 3, 2014
Format: Hardcover Verified Purchase
Steve makes a compelling case about the need to pay attention to what the Fed is doing to the value of our money. This is not just a financial issue, its a strategic security issue as well. The US is as strong as its currency is, when the world knows they can count on the dollar they invest in the dollar and the United States. Steve explains these issues in clear and direct terms with easily understood solutions to the problem. He does so in plain direct terms not economic jargon. I find the book a compelling read and one that focus the mind on the dangerous course the Fed is taking, everyone would benefit from reading and giving this issue great thought.
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14 of 14 people found the following review helpful By CTG on June 10, 2014
Format: Hardcover Verified Purchase
I found the book a very easy and straight forward read. Steve Forbes makes many compelling arguments as to why a Gold Standard is the way to propel the US economy to greater growth and strength in the future. I read "Money" after seeing Mr. Forbes discuss the book on Fox where he said the value of the dollar should be fixed like an hour is a fixed amount of minutes or a foot is a fixed amount of inches. Wow! How simple but brilliant. I purchase materials for a design company, and my life would be far simpler--my efficacy far greater--if I did not have to constantly figure currency fluctuations.

He and Elizabeth Ames also clearly spell out what money really means to society. Money is..."a system of communication that allows people to meet needs in an economy by conveying what others value and desire." Another wow.

"Money" impressed me so much that I'm giving it to all my nieces, nephews, and godchildren as well a number of colleagues for their summer reading.
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