- Publisher: Ludwig von Mises Institute (2007)
- ASIN: B000XG6S52
- Average Customer Review: 4.5 out of 5 stars See all reviews (6 customer reviews)
- Amazon Best Sellers Rank: #5,392,845 in Books (See Top 100 in Books)
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What You Should Know About Inflation
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Top Customer Reviews
Hazlitt, whom H.L. Mencken once called one of the few economists who could write clearly, wrote this little book in the late 1960s, as the inflationary spiral of the mid-1960s to 1981 was just beginning. It's a little gem and an excellent companion to his classic, "Economics in One Lesson."
It isn't really dated at all, as the same economic errors are repeated throughout history. Like Ron Paul today, Hazlitt insists that the only way to prevent inflation is to return to the gold standard. He writes:
"Nothing has more clearly demonstrated the need for the gold standard than its abandonment. Since that occurred, in Britain in 1931 and in the United States in 1933, the world has been plunged, both in wartime and in peacetime, into a sea of paper money and unending inflation."
Sound familiar? 1968 = 2009
Under the current tax code the poorest of Americans pay little or no income tax. This is fine. Even Adam Smith advocated a progressive tax. Inflation is a silent a tax that takes money from the pockets of the rich and poor alike and, for obvious reasons, affects the poor as much or more than the rich. Those with fixed rate debts benefit from inflation, but people from lower socioeconomic classes rarely have the credit scores or the savvy to protect themselves from the perils of adjustable rates. A politician cannot claim to care about the poor while advocating the sort of wanton borrowing for deficit spending that causes inflation.
Most Recent Customer Reviews
This short, lucid primer explains everything you need to know about the current economy.
Yes, that’s right: the current economy. Read more
I found Hazlitt's arguments to be persuasive, but not supported by a lot of empirical analysis. I expected Hazlitt, who is an economist, to cite more empirical studies. Read morePublished on January 9, 2013 by W Henderson