Cycles of inflation and deflation: money, debt, and the 1990s

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Praeger, 1992 - Business & Economics - 167 pages
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This work examines the role money and debt play in our economy. It shows why we went from the gold standard to flat money, why that led to increasing inflation up to 1980, and why inflation has receded since 1980. In addition, it explains how today's economic problems arose, why governments cannot solve those problems, and where those problems will lead us. Challenging conventional wisdom, the author suggests that high real interest rates in the 1980s reduced business' ability to profit by expanding productive capacity and reduced the attractiveness of borrowing for consumption. The resulting drive to buy assets instead, such as stocks and real estate, caused rapidly rising prices in those areas. The author foresees a depression resulting from these economic forces--one which governments will be unable to prevent.

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Contents

Introduction
1
The Gold Standard Was an Automatic Stabilizer
8
The Domino Effect
15
Copyright

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