Paper Money and Inflation in Colonial America

Owen Humpage

Economic Commentary, 2015, issue May

Abstract: Inflation is often thought to be the result of excessive money creation?too many dollars chasing too few goods. While in principle this is true, in practice there can be a lot of leeway, so long as trust in the monetary authority?s ability to keep things under control remains high. The American colonists? experience with paper money illustrates how and why this is so and offers lessons for the modern day.

Date: 2015
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