カネ、借金とアメリカン・ドリーム<br>Inflated : How Money and Debt Built the American Dream

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カネ、借金とアメリカン・ドリーム
Inflated : How Money and Debt Built the American Dream

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  • 製本 Hardcover:ハードカバー版/ページ数 393 p.
  • 言語 ENG
  • 商品コード 9780470875148
  • DDC分類 336

基本説明

Americans as a community seem to believe that they are entitled to a lifestyle that is well-beyond current income. This book will offer a glimpse into the future of the FED and what the future holds for the value of the US dollar.

Full Description


Americans as a whole view themselves as reasonably prudent and sober people when it comes to matters of money, reflecting the puritan roots of the earliest European settlers. Yet as a community, we also seem to believe that we are entitled to a lifestyle that is well-beyond our current income, a tendency that goes back to the earliest days of the United States and particularly to get rich quick experiences ranging from the Gold Rush of the 1840s to the real estate bubble of the early 21st Century. Inflated examines this apparent conflict and makes the argument that such a world view is so ingrained in us that to expect the United States to live in a "deflated" world is simply unrealistic. It skillfully seeks to tell the story of, money inflation and public debt as enduring (and perhaps endearing) features of American life, rather than something we can one day overcome as our policy makers constantly promise. * Features interviews with today's top financial industry leaders and insiders. * Offer a glimpse into the future of the Federal Reserve and the role it will play in the coming years * Examines what the future may hold for the value of the U.S. dollar and the real incomes of future generations of Americans The gradual result of the situation we find ourselves in will inevitably lead to inflation, loss of economic opportunity, and a decline in the value of the dollar.This book will show you why, and reveal how we might be able to deal with it.

Table of Contents

Preface                                            ix
Acknowledgments xiii
Introduction xvii
Chapter 1 Free Banking and Private Money 1 (28)
The Bank of the United States 4 (5)
State Debt Defaults 9 (6)
The Age of Andrew Jackson 15 (5)
The Panic of 1837 20 (4)
The Gold Rush 24 (2)
The Rise of Bank Clearinghouses 26 (3)
Chapter 2 Lincoln Saves a Nation by 29 (34)
Printing Money
The Lincoln Legacy 32 (3)
Financing the War 35 (5)
Salmon Chase and Jay Cooke 40 (4)
Fisk and Gould Profit by Inflation 44 (5)
The Panic of 1873 49 (3)
Gold Convertibility Restored 52 (2)
The Battle Over Silver Money 54 (3)
A Changing American Dream 57 (1)
The Silver Compromise 58 (5)
Chapter 3 Robber Barons and the Gilded Age 63 (22)
The Age of Speculation 65 (3)
Republicans Embrace Inflation 68 (4)
The Panic of 1893 72 (2)
The Cross of Silver 74 (2)
The Evangelical Silverites 76 (2)
The Turning Point: 1896 78 (7)
Chapter 4 The Rise of the Central Bank 85 (38)
The Progressive: Theodore Roosevelt 88 (7)
A Flexible Currency 95 (4)
The Crisis of 1907 99 (4)
The National Monetary Commission 103 (7)
The Passage of the Federal Reserve Act 110 (5)
Roosevelt, Wilson, and the Politics of 115 (8)
Reform
Chapter 5 War, Boom, and Bust 123 (60)
The Fed During WWI 135 (7)
A Return to Republican Normalcy 142 (4)
The Roaring Twenties 146 (3)
A New Era of Debt and Investing 149 (5)
The Rise of Consumer Finance 154 (4)
America Transformed 158 (5)
Prelude to the Depression 163 (3)
Bust: Stocks Fall and Tariffs Rise 166 (7)
Inflation versus Deflation 173 (6)
Ford, Couzens, and the Detroit Banks 179 (4)
Chapter 6 New Deal to Cold War 183 (58)
FDR and the Era of Broken Precedent 185 (5)
The Seizure of Gold and Dollar Devaluation 190 (6)
Dollar Devaluation Hurt World Trade 196 (2)
The Rise of the Corporate State 198 (6)
The Reconstruction Finance Corporation 204 (5)
Central Planning Arrives in Washington 209 (2)
FDR Embraces Federal Deposit Insurance 211 (3)
The Legacy of FDR 214 (3)
The Fed and the RFC 217 (10)
Corporativist Reform at the Fed 227 (4)
America Goes to War 231 (5)
Wartime Inflation and Debt Finance 236 (2)
Bretton Woods and Global Inflation 238 (3)
Chapter 7 Debt and Inflation: A Rising Tide 241 (44)
Lifts All Boats
Federal Revenues Grow 247 (5)
The Fed Regains Independence 252 (2)
The Post-War Economy Soars 254 (1)
The Legacy of War 255 (3)
Cold War, Free Trade 258 (6)
The Dollar's Golden Age 264 (4)
Global Imbalances Return 268 (3)
Richard Nixon's Betrayal 271 (2)
The End of the Dollar Peg 273 (5)
The Return of Sovereign Borrowing 278 (7)
Chapter 8 Leveraging the American Dream 285 (44)
The New Uncertainty 289 (6)
Humphrey-Hawkins and Full Employment 295 (5)
Balanced Budgets and Inflation 300 (4)
Volcker's Shock Treatment 304 (4)
The Crisis Managers 308 (3)
The Latin Debt Crisis 311 (3)
Reagan Reappoints Volcker 314 (3)
The Neverending Crisis 317 (3)
Volcker Exits, Volatility Returns 320 (3)
From Excess to Delusion 323 (3)
The Greenspan Legacy 326 (3)
Chapter 9 A New Monetary Order 329 (18)
The Growth Challenge 334 (2)
Jobs versus Inflation 336 (2)
Changing Places 338 (3)
Triffin's Dilemma and the Dollar 341 (6)
Notes 347 (18)
Selected References 365 (4)
About the Author 369 (2)
Index 371