They Invented Money So They Could Have Inflation

Robert Z. Aliber
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Robert Z. Aliber: University of Chicago

Chapter 8 in The New International Money Game, 2011, pp 105-117 from Palgrave Macmillan

Abstract: Abstract A hundred years ago, a mile was a mile, a dollar was a dollar, and a liter of water weighed a kilo. The 2010 kilo is identical to the 1910 kilo. The 2010 dollar is only a pale shadow of the 1910 dollar and of the 1810 dollar. All the national monies in 2010 measure less than they did in 1910.

Keywords: Interest Rate; Monetary Policy; Central Bank; Price Level; Federal Reserve (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24672-0_9

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DOI: 10.1057/9780230246720_9

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