Paper Money Collapse: The Folly of Elastic Money and the Coming Monetary Breakdown

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Автор: Detlev S. Schlichter

Название: Paper Money Collapse: The Folly of Elastic Money and the Coming Monetary Breakdown

Издательство: Wiley

Год: 2011

Кол-во страниц: 288

Формат: Pdf

Размер: 5 MB

Язык: Английский

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.