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Full Description
The last year has seen the return of inflation as a preoccupation of political decision-makers, economists and the general public. After two decades of wondering why inflation was so low, despite vast economic stimulus, economists were surprised by the recent surge of price increases. Despite disagreement about what exactly is happening in the economy, there is unanimity that growth must be slowed in order to control inflation. To focus on inflation's return, Paul Mattick looks at past and present, placing current events in the context of capitalism's history. Exploring in novel terms the nature of money itself, he provides a concise, jargon-free understanding of recent inflation, and official efforts to control it, illuminating the state of our contemporary economy.
Contents
Introduction
Chapter 1: Money, Goods, and Prices
Chapter 2: The Age of Inflation
Chapter 3: Theories and Policies
Chapter 4: Modern Money
Chapter 5: Prices and Profits
Chapter 6: From the Great Inflation to the End of Magic Money
References
Bibliography
Acknowledgements
Index