Milton Friedman 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. Roosevelt’s decision to appease a few senators from the American West helped communism triumph in China.
He discusses the creation of value, from stones to feathers to gold. He outlines the central role of monetary theory and shows how it can act to ignite or deepen inflation. He explains, in layman’s English, what the present monetary system in the United States—a system without historical precedent—means for your paycheck and savings book, as well as for the global economy.
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"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). " — Don (4 out of 5 stars)
"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). "
“Often iconoclastic yet always persuasive, whatever Friedman has to say about money should always be read. Highly recommended.”
“A lively, enlightening introduction to monetary history…Informed and informative perspectives from monetarism's most articulate apostle.”
" 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). "
" Excellent real life studies in economics. Some very compelling ideas and thought provoking on humanity, money, power and freedom. "
" 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. "
" This is an interesting book, but you have to be interested in monetary policy. "
" 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 "
" 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! Huzzah! "
" A very smart man who works very hard to convince you that he’s not actually making dumb assumptions (which he is). Not to be confused with his “Monkey Mischief!” series for kids. "
Milton Friedman (1912–2006) was perhaps the most influential economist of the twentieth century. Professor, columnist, author, and advisor, he was awarded the 1976 Nobel Prize in economic sciences.
Wanda McCaddon (d. 2023) narrated well over six hundred titles for major audiobook publishers, sometimes with the pseudonym Nadia May or Donada Peters. She earned the prestigious Audio Award for best narration and numerous Earphones Awards. She was named a Golden Voice by AudioFile magazine.
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