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Fiat Money Inflation In France
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Fiat Money Inflation In France

4.07  ·  Rating details ·  73 Ratings  ·  15 Reviews
The question will naturally be asked, On whom did this vast depreciation mainly fall at last? When this currency had sunk to about one three-hundredth part of its nominal value and, after that, to nothing, in whose hands was the bulk of it? The answer is simple. I shall give it in the exact words of that thoughtful historian from whom I have already quoted: "Before the end ...more
Paperback, 64 pages
Published June 17th 2004 by Kessinger Publishing, LLC (first published 1933)
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Patrick Peterson
Aug 16, 2011 rated it really liked it
Classic work on what happened in the French Revolution regarding money. If you don't know already, you may be amazed at how bad everyday life and commerce got, along with the Terror.

The book left out a few things that I wanted it to explore: what did the government do to/with the old money (Franks?) when it issued Assignats? What was the actual process of issuing Assignats? How did they actually get them in circulation?

This book was fantastic on explaining the history, psychology and characters
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Robert
France already did what the ECB is proposing with their collateral securitization of public property.
Timothy
Jul 02, 2014 rated it really liked it  ·  review of another edition
Laissez Faire Books (LFB.org) is preparing a new edition of this classic. I wrote the foreword to it. Check it out in a few weeks.

I rated it four of five stars here only because White was not a monetary economist, but, instead, a historian.

This monograph history does not set out to explain why things went wrong with the French revolutionary monetary system, but that they did, and how bad it got. (Very bad.) Dixon ably relates the dangers of politically run inflationism. He is less good on expla
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Nick
Riveting title, right? Still though, borderline 3-4 stars. It was pretty dry but this is a great case study. Aka, in this example revolutionary France was printing unbacked paper money for the first time, so there is no background noise of previous monetary shocks. The narrative is therefore predicable, but much "cleaner" than some more recent examples.

Also, its brief.

Also, it conveys the impact of fiat money on all sectors of French society.

Also, its a "road to serfdom" type tale beginning with
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Timothy
Feb 14, 2015 rated it really liked it  ·  review of another edition
What if the key to understanding the French Revolution and its descent into the Terror wasn't the writings of Jean-Jaques Rousseau, the lack of a history of self-government amongst the people, or the rise of secularism? What if the key was money? That is, the issuance of assignats by the new government, and the quick repudiation of their real-estate-based bond elements and their de facto floating as a fiat currency?

What if it all came down to inflation?

This classic study is a must read.

Full Dis
...more
Katie
Oct 21, 2012 rated it really liked it  ·  review of another edition
Shelves: 2012
Don't judge this book by its title; it was anything but dull! I actually found myself laughing out loud at some of the "folly" White so colorfully describes, and the group think and the individual delusions of otherwise intelligent people were both fascinating and frightening. This book is available for FREE download here: http://www.gutenberg.org/ebooks/6949.
Cy Helm
Jun 11, 2013 rated it really liked it  ·  review of another edition
Dr. White is the foreshadow of Reinhart and Rogoff's This Time Is Different. His writing style is much more sarcastic than theirs, and equally as researched. The parallels between the post-Revolution French government and the current US government attempts to pay off debt by inflating the money supply are striking.
Bernard
Mar 22, 2012 rated it it was amazing  ·  review of another edition
A thing of beauty. My only objection is that in truth all money is ultimately fiat money, and there's a fair amount more known these days as to what drives a hyperinflation. With that caveat, White's short book can't be beat as a description of massive inflation, price controls, repression and human folly.
Hegemony
Nov 02, 2015 rated it it was amazing  ·  review of another edition
Изключителен труд, показващ как намесата на държавата чрез печатане на необезпечени пари и фиксиране на цени води до бедност и разпад на обществото. Става дума за инфлацията в следреволюционна Франция, но резултатите в съвремието са същите.
Kelly
Jun 26, 2010 rated it it was amazing  ·  review of another edition
Never was a subject more apropos than this at this point in time. Though the debasement of the France's money occurred over 200 years ago, the bureaucrats and politicians were saying the same things back then as they are now.
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