Money: Whence It Came, Where It WentMoney is nothing more than what is commonly exchanged for goods or services, so why has understanding it become so complicated? In Money, renowned economist John Kenneth Galbraith cuts through the confusions surrounding the subject to present a compelling and accessible account of a topic that affects us all. He tells the fascinating story of money, the key factors that shaped its development, and the lessons that can be learned from its history. He describes the creation and evolution of monetary systems and explains how finance, credit, and banks work in the global economy. Galbraith also shows that, when it comes to money, nothing is truly new—least of all inflation and fraud. |
Contents
| 1 | |
| 8 | |
CHAPTER 3 Banks | 21 |
CHAPTER 4 The Bank | 33 |
CHAPTER 5 Of Paper | 52 |
CHAPTER 6 An Instrument of Revolution | 67 |
CHAPTER 7 The Money War | 78 |
CHAPTER 8 The Great Compromise | 97 |
CHAPTER 13 The SelfInflicted Wounds | 190 |
CHAPTER 14 When the Money Stopped | 211 |
CHAPTER 15 The Threat of the Impossible | 229 |
CHAPTER 16 The Coming of J M Keynes | 250 |
CHAPTER 17 War and the Next Lesson | 272 |
The Preparation | 293 |
CHAPTER 19 The New Economics at High Noon | 310 |
CHAPTER 20 Where It Went | 327 |
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Common terms and phrases
action American assignats bank notes Bank of England bankers Banque de France Banque Royale became billion borrowing Britain British budget cash central bank circulation coin colonies commercial banks consequence corporations currency deficit demand depositors deposits depression dollar economic policy Economic Report economists effect exchange expand expenditures failure Federal Reserve Bank Federal Reserve System fiscal policy France French funds German gold and silver gold standard greenbacks hard money Historical Statistics important income industrial inflation interest rates investment Irving Fisher John Maynard Keynes Keynesian later less loans market power member banks ment metal monetary policy notably note issue operations output panic paper money percent President Press price control Professor purchasing power reduced reputation resulting Roosevelt speculation stabilization taxes thing thought tion tobacco trade Treasury U.S. Bureau unions United wages wartime Washington World World War II York