Description
Book SynopsisThe last year has seen the return of inflation as a preoccupation of political decision-makers, economists and the general public. After two decades of wondering why inflation was so low, despite vast economic stimulus, economists were surprised by the recent surge of price increases. Despite disagreement about what exactly is happening in the economy, there is unanimity that growth must be slowed in order to control inflation. To focus on inflation's return, Paul Mattick looks at past and present, placing current events in the context of capitalism's history. Exploring in novel terms the nature of money itself, he provides a concise, jargon-free understanding of recent inflation, and official efforts to control it, illuminating the state of our contemporary economy.
Trade Review'Economic theorists and policy-makers have long misconstrued the causes and cures for inflation. Paul Mattick provides an eye-opening account of that failure, and a brilliant, lucidly presented analysis of the inherently inflationary logic of modern-day capitalism. Indispensable for all those concerned about the welfare of working people.' - Steve Fraser, author of The Age of Acquiescence; 'A reader looking for a clear, well-researched account of the history and theories of inflation and the workings of monetary institutions from a critical, left-wing perspective will not find a better source than Paul Mattick's The Return of Inflation.' - Duncan K. Foley, Emeritus Leo Model Professor of Economics, New School for Social Research.
Table of ContentsIntroduction Chapter 1: Money, Goods, and Prices Chapter 2: The Age of Inflation Chapter 3: Theories and Policies Chapter 4: Modern Money Chapter 5: Prices and Profits Chapter 6: From the Great Inflation to the End of Magic Money References Bibliography Acknowledgements Index
