Description
Book SynopsisThis book addresses the topical issue of whether the current environment in the US and other major countries, where quantitative easing is used to boost the economy, is conducive to the emergence of hyperinflation. This is a controversial and highly debated issue. Using both economics and history, the author challenges the view that quantitative easing will not lead to hyperinflation and argues that hyperinflation, or at least high inflation, is likely to appear eventually.The book examines all the propositions put forward for and against the eventuality of hyperinflation in the US, using illustrations based on actual and simulated data. The analysis leads to the conclusion that the current fiscal position of the US government, particularly the levels of external debt and unfunded liabilities, will not be rectified without resorting to inflationary financing. The book would be useful not only for policy makers and economists but also for non-specialist observers.
Table of ContentsThe Concept and Measurement of Inflation; The Causes and Consequences of Inflation; The Phenomenon of Hyperinflation; The History of Fiat Currency and Hyperinflation; Hyperinflationary Episodes since the 1970s; The Current State of Affairs: Heading Towards Hyperinflation?; Concluding Thoughts.
