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, 2002, pp 135-151 from Palgrave Macmillan

Abstract: Abstract 100 years ago, a mile was a mile, a dollar was a dollar, and a liter of water weighed a kilo. The 1999 kilo is identical to the 1899 kilo. The 1999 dollar is only a pale shadow of the 1899 dollar and of the 1969 dollar. All the national monies in 1999 measure less than they did in 1989, and they were less valuable in 1988 than in 1978.

Keywords: Unemployment Rate; Price Level; Money Supply; Real Interest Rate; Real Estate Investment Trust (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50097-6_8

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DOI: 10.1057/9780230500976_8

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