Inflation: What It Is, Why It's Bad, and How to Fix It
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- Type：Epub+TxT+PDF+Mobi
- Create Date：2022-07-16 06:51:42
- Update Date：2025-09-06
- Status：finish
- Author：Steve Forbes
- ISBN：1641772433
- Environment：PC/Android/iPhone/iPad/Kindle
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Summary
Inflation: What It Is， Why It’s Bad， and How to Fix It explains what’s behind the worst inflationary storm in more than forty years—one that is dominating the headlines and shaking Americans by their pocketbooks。 The cost-of-living explosion since the COVID pandemic has raised alarms about a possible return of a 1970’s-style “Great Inflation。” Some observers even fear a descent into the kind of Weimar-style hyperinflation that has torn apart so many nations。 Is this true？ If so， what should be done？ How should we prepare for the future？
Inflation answers these and other questions in an engaging discussion that draws on the singular expertise of Steve Forbes， chairman of Forbes Media， acclaimed for his insights on money and the economy; Nathan Lewis， internationally renowned expert on money and taxation; and author and journalist Elizabeth Ames。
The authors say that today’s problems can be solved by discarding longstanding beliefs that helped bring on the current crisis。 They include the notion that central banks can create prosperity through artificially creating money “out of thin air，” and also that economic “stability” requires “a little inflation。” Such ideas for decades have been Holy Writ in official Washington。 Inflation shows why they are misguided。 The book also explains why the current rage for heedless money-printing advocated by left-wing advocates of so-called Modern Monetary Theory is likely to lead the nation—and the world—down the road to disaster。
Packed with examples from the headlines and from history， Inflation is a unique， real-world exploration of the subject that addresses everyday concerns of Americans under siege by rising prices， including steps you should take to protect your wealth。
Inflation is essential reading for everyone seeking to navigate these tumultuous times。
Inflation answers these and other questions in an engaging discussion that draws on the singular expertise of Steve Forbes， chairman of Forbes Media， acclaimed for his insights on money and the economy; Nathan Lewis， internationally renowned expert on money and taxation; and author and journalist Elizabeth Ames。
The authors say that today’s problems can be solved by discarding longstanding beliefs that helped bring on the current crisis。 They include the notion that central banks can create prosperity through artificially creating money “out of thin air，” and also that economic “stability” requires “a little inflation。” Such ideas for decades have been Holy Writ in official Washington。 Inflation shows why they are misguided。 The book also explains why the current rage for heedless money-printing advocated by left-wing advocates of so-called Modern Monetary Theory is likely to lead the nation—and the world—down the road to disaster。
Packed with examples from the headlines and from history， Inflation is a unique， real-world exploration of the subject that addresses everyday concerns of Americans under siege by rising prices， including steps you should take to protect your wealth。
Inflation is essential reading for everyone seeking to navigate these tumultuous times。
Reviews
Shubhashish Dev
，
The book is concise and full of useful information。 It hit right at the gap that I wanted to be filled。 You not only learn about the history of Inflation and how peoples' lives were affected， but you will also learn how to think before investing in the upcoming days。 The book is concise and full of useful information。 It hit right at the gap that I wanted to be filled。 You not only learn about the history of Inflation and how peoples' lives were affected， but you will also learn how to think before investing in the upcoming days。 。。。more
Nick
，
A very timely and informative book which I read for the gold standard proposal。 They advocate a gold price standard as opposed to the classical gold standard where dollars could be exchanged for ounces of gold which they argue is what the Fed did in the 80’s and 90’s under Volcker and Greenspan after the US and world went off the gold exchange standard and experienced stagflation。 There would still be a role for the Federal Reserve to maintain the value of the dollar within a range of a set pric A very timely and informative book which I read for the gold standard proposal。 They advocate a gold price standard as opposed to the classical gold standard where dollars could be exchanged for ounces of gold which they argue is what the Fed did in the 80’s and 90’s under Volcker and Greenspan after the US and world went off the gold exchange standard and experienced stagflation。 There would still be a role for the Federal Reserve to maintain the value of the dollar within a range of a set price of gold and provide liquidity so the money supply wouldn’t be fixed but the Fed would no longer have a dual mandate of price stability and full employment neither of which have to do with maintaining the value of money so interest rates would be set by the market。 This seems more transitory as eventually there would be a statutorily set price of gold when the dollar stabilizes。 Advice is given for where to put your money in an inflationary economy and the hopeful that inflationary situations result in a return to free market policies like after World War 2 and the 1980s as a major theme of the book is that inflation is ultimately the result of government actions。 。。。more
Cory Wallace
，
Good read that provided simple and sound solutions to the failing economy。 We need to realize what’s going on and make the necessary changes。
Joe Zhang
，
a good reviewHowever， its proposal of a gold-based monetary system is not feasible。 Politicians will resist it because it is inconvenient。 The book will be far better with some graphs and tables and charts。
Steven Beningo
，
An excellent book that explains what causes inflation， one of the most important problems that Americans are facing today！
Argy Skondras
，
Some very interesting points about inflation， but would be even more comprehensive if it used data to supplement the anecdotal historical evidence for how inflation affects the economy。 In general， very illuminating。
霏昀
，
Gold-based money？ Nonsense…
Thomas
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Amazing book！ You will never think about money the same way again after reading this。 Bottom line up front: inflation comes from a devaluation of currency。 This can be temporary as a result of natural disasters and disruptions in supply chain or it can be permanent when flawed policy creates hyperinflation and the government prints money to pay for itself。 The answer？ Ideally， a return to the gold standard。 An alternative， adherence to the Bretton Woods gold standard where circulation of dollars Amazing book！ You will never think about money the same way again after reading this。 Bottom line up front: inflation comes from a devaluation of currency。 This can be temporary as a result of natural disasters and disruptions in supply chain or it can be permanent when flawed policy creates hyperinflation and the government prints money to pay for itself。 The answer？ Ideally， a return to the gold standard。 An alternative， adherence to the Bretton Woods gold standard where circulation of dollars is tied to the price of gold。 。。。more
James
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This review has been hidden because it contains spoilers。 To view it， click here。 Not a bad book， just tedious。 I’m an economist by education and would have preferred a more rigorous discussion of inflation， but I realize this book wasn’t written for people like me。 It does tend to oversimplify the entire topic and centers around a wistful （at best） desire for a return to non-fiat currency。 On the plus side， it is infinitely more comprehensible and logical than any of the ridiculous books on Modern Monetary Theory。 It’s worth noting that the book was written prior to the curr Not a bad book， just tedious。 I’m an economist by education and would have preferred a more rigorous discussion of inflation， but I realize this book wasn’t written for people like me。 It does tend to oversimplify the entire topic and centers around a wistful （at best） desire for a return to non-fiat currency。 On the plus side， it is infinitely more comprehensible and logical than any of the ridiculous books on Modern Monetary Theory。 It’s worth noting that the book was written prior to the current （Q1/Q2 2022） levels of inflation in the US。 I would have rated this lower were it not for the final two chapters， “What about your money” and “The way forward” which provide useful suggestions for coping with and recovering from inflation。 。。。more
Ralph W Kendall Jr
，
lets elect a group of officials who will take us hereI’ve been in discussions about this before。 But this is one of the most lucid presentations I’ve read about returning to the gold standard！ FORBES FOR PRESIDENT！
Andrew Violette
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