Paper money collapse : the folly of elastic money and the coming monetary breakdown
著者
書誌事項
Paper money collapse : the folly of elastic money and the coming monetary breakdown
John Wiley & Sons, c2011
- : hbk
注記
Includes bibliographical references and index
内容説明・目次
内容説明
The case for the inevitable failure of a paper money economy and what that means for the future All paper money systems in history have ended in failure. Either they collapsed in chaos, or society returned to commodity money before that could happen. Drawing upon novel new research, Paper Money Collapse conclusively illustrates why paper money systems--those based on an elastic and constantly expanding supply of money as opposed to a system of commodity money of essentially fixed supply--are inherently unstable and why they must lead to economic disintegration. These highly controversial conclusions clash with the present consensus, which holds that elastic state money is superior to inflexible commodity money (such as a gold standard), and that expanding money is harmless or even beneficial for as long as inflation stays low.
Contradicting this, Paper Money Collapse shows that: The present crisis is the unavoidable result of continuously expanding fiat money The current policy of accelerated money production to "stimulate" the economy is counterproductive and could lead to a complete collapse of the monetary system Why many in financial markets, in media, and in the policy establishment are unable (and often unwilling) to fully appreciate the underlying problems with elastic money This compelling new book looks at the breakdown of modern economic theory and the fallacy of mathematical models. It is an analysis of the current financial crisis and shows in very stark terms that the solutions presented by paper money-enthusiasts around the world are misguided and inherently flawed.
目次
Foreword xi Acknowledgments xv Prologue: The Brave New World of Elastic Money 1 Part One: The Basics of Money 19 Chapter 1: The Fundamentals of Money and Money Demand 21 Chapter 2: The Fundamentals of Fractional-Reserve Banking 49 Part Two: The Effects of Money Injections 83 Chapter 3: Money Injections without Credit Markets 85 Chapter 4: Money Injections via Credit Markets 97 Part Three: Fallacies about the Price Level and Price Level Stabilization 125 Chapter 5: Common Misconceptions Regarding the Price Level 127 Chapter 6: The Policy of Stabilization 149 Part Four: History of Paper Money: A Legacy of Failure 161 Chapter 7: A Brief History of State Paper Money 163 Part Five: Beyond the Cycle: Paper Money Collapse 171 Chapter 8: The Benefi ciaries of the Paper Money System 173 Chapter 9: The Intellectual Superstructure of the Present System 185 Chapter 10: Beyond the Cycle: Paper Money's Endgame 221 Epilogue: A Return to Commodity Money 241 Notes 247 About the Author 259 Index 261
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