sodes In Monetary History: Money Mischief by Milton Friedman. But we are going to talk about more than money and Milton. Even if this were not an audience of. monetary framework that would provide a favorable environment for the operation .. Friedman, Milton () Money Mischief, Harcourt Brace. Book). ID.: IE Category: US/Data/Business-Money. Rating.: 4/5 From Reviews. Milton Friedman ebooks | Download PDF | *ePub | DOC | audiobook.
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Money mischief: episodes in monetary history by Milton Friedman · Money mischief: episodes in monetary history. by Milton Friedman. Print book. English. In his new book, Money Mischief, economist Milton Friedman Friedman: I do not agree with the view of the economists calling for. Money Mischief: Episodes in Monetary History (Harvest Book) and millions of other books are available for instant access. Money Mischief: Episodes in Monetary History Paperback – March 31, Start reading Money Mischief: Episodes in Monetary History (Harvest Book) on your.
Volume 31 , Issue 2. Open Preview See a Problem? Forgot your password? He demonstrates through historical events the mischief that can result from misunderstanding the monetary system--how, for example, the work of two obscure Scottish chemists destroyed the presidential prospects of William Jennings Bryan and how Franklin D. Since I don't have an economics background, the detailed explanation of bi-metalism and national economic policy was very difficult for me. Get access to the full version of this article. All rights reserved.
Thus it is folly to blame inflation on anyone but the government. A metallic standard gold, silver, or bi-metallic necessarily introduces volatility to price levels and leads to an inefficient allocation of resources, but it also disciplines the government's printing presses. The Nobel Prize winner Substantial inflation is always and everywhere a monetary phenomenon.
The Nobel Prize winner also provides a compelling explanation of how FDR's ill-conceived silver policy aided the communist revolution in China.
Dec 03, Abdelhamid rated it it was amazing. Milton Friedman covers a number of interesting episodes of monetary history in this book. The episode about the bimetallic money system the U. Also the discussion of inflation and the incentive the government may have to use inflation to finance spending is very relevant to our current day problems of growing national debt and federal budget deficit.
I highly recommend this book to anyone who wants to learn more about money and its history.
Feb 10, Azriel rated it really liked it. Despite Friedman's wit and clarity, this is difficult material to work through. More so when he takes an entire chapter to work through the extended math of several of his asumptions. I recommend everyone who has any interest in economics to read the first and 8th chapters. The first explains that money is merely a medium of exchange, and clarifies why fiat money is fully valid.
Chapter 8 covers inflation, and dispells many myths that still get involked 25 years later.
Dec 09, James Koppen rated it liked it. I didn't actually finish this book, but I'm done for now. The first chapters kept my attention but once he began to explain an alternate financial history - as in what he thinks would have happened, hypothetically, had a certain monetary policy been effected in the late s - with graphs and tables I stopped reading. Mar 15, Terry Koressel rated it it was ok. I am sure this is an excellent book I am a huge fan of Milton Friedman.
However, I am sad to say that the intricate and detailed economics in Money Mischief were over my head It is one of the very few books I did not finish.
I would not recommend the book unless you have a mind or training to understand complex economics particularly monetary theory. May 03, Void lon iXaarii rated it liked it. Very cool stuff. I particularly liked the hypothetical money from the helicopter reasoning flow mental exercises and I of course adored the stone money real situation and the parallel to the France-US incident. Mar 02, Don rated it it was amazing.
Superb non-technical examples of just how much "money matters". Fun reading for economic history types as well as people interested in monetary economics.
Leftists may enjoy a good exposition of the monetary policies of 19th century American populists including William Jennings Bryan. May 10, Dave Peticolas rated it liked it. A short introduction to monetary history and the causes of inflation.
Jun 01, Stephen Frank rated it really liked it. A must read for investors interested in understanding the possible consequences of quantitative easing. Jan 30, Aharon rated it liked it. Nov 21, A. Tebbs rated it really liked it. It's a bit technical at times, but he explains why hard currency is so necessary. I greatly admire this man and I love how he exposes fraud. Dec 24, Bill Duhamel rated it it was amazing. A fun read.
But lightweight. Aug 19, Jen added it. Slow going, not my typical book. Good content though I gave up half way through. Jul 28, Chris Fellows rated it really liked it. No matter how many things I read, I am still surprised from time to time to find vast swathes of human knowledge of which I am totally ignorant. Now I understand bimetallism! Jan 16, Todd rated it really liked it.
Excellent real life studies in economics. Some very compelling ideas and thought provoking on humanity, money, power and freedom.
Sep 24, Bryan rated it really liked it. This was an interesting book especially because it increased my knowledge on the monetary situation in the US during the late 19th century.
I was vaguely aware of the coinage act of , but more for other reasons coins that they either started minting, or stopped minting, at that time. He then added the section on William Jennings Bryan, and showed how the monetary issue was a political issue, although had ceased to be an issue by the time Bryan used it in his presidential campaign. It was a This was an interesting book especially because it increased my knowledge on the monetary situation in the US during the late 19th century.
It was also interesting to learn about the bimetallic standard that existed, and how it would fluctuate which metal was used depending on the exchange rate at the time. It is also interesting to see how it went from either a 15 or 16 to 1 ratio silver to gold to what has now become about an 80 to 1 ratio. The last interesting point is that almost all currencies were defined by their certain weight of gold or silver. The dollar was defined as x number of grains of gold, and y number of grains of silver.
Dec 18, Anton Hammarstedt rated it it was ok Shelves: The rating is less indicative of the quality of the writing or the quality of Friedman's arguments and more indicative of the fact that no matter what I do, I can't seem to bring myself to give even a modicum of shit about monetary policy. I think the theory is interesting and I think we did too little of it in school , but whenever someone starts talking about how Bank of [Nation] did Z instead of Y in 19XX and therefore something or other happened, my eyes just glaze over.
Definitely not Pop Econ. It was a combination of history and monetary theory. Fun in some spots, but dismal in others.
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