The Economics of Inflation (Monetary Economics) 1st Edition
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- Publisher : Routledge; 1st edition (February 1, 2007)
- Language : English
- Paperback : 466 pages
- ISBN-10 : 0415434629
- ISBN-13 : 978-0415434621
- Item Weight : 1.45 pounds
- Dimensions : 8.27 x 1.05 x 11.69 inches
- Best Sellers Rank: #1,876,286 in Books (See Top 100 in Books)
- Customer Reviews:
Top reviews from the United States
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Bresciani-Turroni's chapter on the social implications of the Weimar inflation is compelling; his understanding of who profited mightily and who was ruined and why is powerful and timely at a moment when a number of world governments including the USA are busily printing money at a faster and faster clip.
The notion of finding scapegoats (speculators and foreigners), the government's unwillingness to take any responsibility for its actions (blame the foreigners), and the tremendous economic and social costs (suicide, malnutrition, crime, et al) of hyperinflation make for sober and enlightening reading.
However, the book is expensive. Perhaps the best recommendation I can make is that I often find myself returning to chapters in this book to help me understand current economic events.
Yes, the book is heavy trudging. Yes, the language is antiquated by U.S. terms. But the graphs (oh, the graphs are STUPENDOUS) for they clearly demonstate how a fiat currency (e.g. the USD) can exponetually evaporate in very short order when people loose confidence in it.
The book clearly names some of the "winners", but the vast majortiy were "losers", because they did not forsee the problem and ACT on it. Again, it is "heavy sledging" but it a "Must READ" for those who not only want to survive but to be "winners".