AJ's Reviews > Money Mischief: Episodes in Monetary History

Money Mischief by Milton Friedman
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's review
Jul 20, 2007

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bookshelves: non-fiction, economics
Recommended for: People intersted in Economics
Read in July, 2007

Milton Freidman is a great read. "Money is much too important a matter to be left to central bankers" neatly sums up his perspective on the necessary role government must play in shaping monetary policy. This book explains the symbolic properties (or "myth") of money, touches on the history of the gold and silver standard in the US and abroad, and focuses narrowly on a retrospective analysis of whether US monetary policy made the right decisions with regard to the precious metals and money. Following is a great discussion of inflation, how it works, why it's bad, and what can be done about it.

There are a fair amount of charts, and one chapter devoted fully to modeling hypothetical alternatives to history, essentially full-blown economic analysis. Even so, don't let that stop you from grabbing it.

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