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How should governments and central banks use monetary policy to create a healthy economy? Traditionally, policymakers have used such strategies as controlling the growth of the money supply or pegging the exchange rate to a stable currency. In recent years a promising new approach has emerged: publicly announcing and pursuing specific targets for the rate of inflation. This book is an in-depth study of inflation targeting. Combining penetrating theoretical...
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In 1950, Armen Alchian published his paper "Uncertainty, Evolution and Economic Theory" (reprinted in this volume), a paper of striking originality, whose importance was immediately perceived and which gained him international recognition. It was clear that economics had a new master. Alchian has made important contributions to the economic analysis of inflation and unemployment and to the theory of costs and of the firm. He has played the leading...
7) Paper money
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An exposition on the present and future value of the United States dollar which states the author's theories regarding inflation and his concerns about OPEC and U.S.-Saudi connections.
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"Imagine a world without inflation: prices in the shops rising in some years but falling in others; pay rising by 2 or 3% in the good years, but static or falling in the bad ones; house prices as likely to fall as to rise; interest rates in the range 2-4%."--BOOK JACKET. "In the post-war period of producer power companies could push up prices and groups of workers could push up pay. Now, by contrast, both businesses and workers are tightly constrained....
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While trillions of dollars came and went in the stock market boom of the 1990s, the image of ""every man and woman a CEO"" may turn out to be the era's lasting legacy. Business news, once reserved to specialized papers or sections of the larger news of the day, came to the forefront in cable television and in cultural images of how ordinary people, through the internet and other avenues could not only master their financial life, but move money and...
11) The raw deal: how myths and misinformation about deficits, inflation, and wealth impoverish America
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"Over the past twenty years, Americans have been fed a mash of confusing financial and economic information. Economist Ellen Frank's alternately enlightening and shocking volume shows us how what we've been taught to think about stocks, interest rates, personal opportunities, employment, government spending, and inflation distorts popular understanding of how the economy really operates. But public confusion serves a distinct political goal: to camouflage...
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Where does money come from? Who decides how it gets used? And what does that mean for the millions of ordinary people who suffer when money and finance break down? This documentary presents serious research and verifiable evidence regarding the global financial system from a U.K. perspective. Sections of the program include Notes and Coins, Commercial Bank Money, Central Bank Reserve Currency, Significance of Central Bank Reserves, A Short History...
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What can be done to break the grip of Big Banking and put money back to work for the good of the middle and lower classes who, due primarily to credit-fueled inflation, are working longer and longer for less and less? Fact-based and clearly articulated, this documentary reveals that the power of private banks to electronically create money at will is the piece of the Great Recession puzzle that mainstream neoclassical economists were missing when...
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"Frederic Mishkin is not only an academic expert in the field but also has been a high-level policymaker. He is well positioned to discuss the changes in the conduct of monetary policy in recent years, in particular the turn to inflation targeting. Monetary Policy Strategy describes his work over the last ten years, offering published papers, new introductory material, and a summing up, "Everything You Wanted to Know about Monetary Policy Strategy,...
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The Great Inflation, argues journalist Samuelson, was the worst domestic policy blunder of the postwar era and played a crucial role in transforming American politics, economy, and everyday life--and yet its story is hardly remembered or appreciated. From 1960 to 1979, inflation rose from barely more than 1 percent to nearly 14 percent--the greatest peacetime inflationary spike in this nation's history. It had massive repercussions in every area of...
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This unique book deals with the most serious macroeconomic failure experienced in the US in the post-war period, the great inflation of the late 1960s and 1970s. It is the first detailed analysis, using Federal Reserve documents, of the thinking behind the inflationary monetary policy during this period. Monetary Policy and the Great Inflation in the United States will be welcomed by economists, political scientists and economic historians interested...
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