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The Inflation Crisis, and How to Resolve It
An excellent volume by an eminent journalist and author which presents a history of inflation, an explanation of its causes, an analysis of the misconceptions and fallacies that prevail about it, the outlook for more of it, and advice regarding what the reader can and cannot do to protect himself or herself against it. The author recognizes the strength of the political fo ...more
Paperback, Second Edition, 192 pages
Published June 22nd 1983 by University Press of America
(first published 1978)
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Interestingly it doesn't matter if you're reading The Wall Street Journal, The Economist or a report directly from the Federal Reserve itself – more often than not inflation is referred to as if it is some wild beast that can never be fully understood or completely stopped. And yet when you break it down, by the very definition of inflation we know that this is completely false. Why? Because inflation is not the rise in prices or the devaluation of money. Inflation is the increase in the supply ...more
Henry Hazlitt has a way of explaining things that is clear - crystal clear. In this book he explains what inflation is. It is nothing more than the expansion of the money supply. That definition, however, has undergone change. Now inflation is defined as an increase in prices. Shifting the definition, however, has not made things clearer. It has instead hidden the relationship between the quantity of money on the one hand, and the quantity of goods on the other. This ratio is expressed as a pric ...more
Henry Hazlitt was a libertarian philosopher, an economist, and a journalist for various publications including The Wall Street Journal and The New York Times, and Newsweek. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman, an important libertarian magazine. In 1946 Hazlitt wrote Economics in One Lesson, his seminal text on free market e ...more