Inflated

R. Christopher Whalen 지음

Wiley 2025년 04월 29일 출간

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책소개

Discover where America's monetary system is heading—and how it will impact you—in the years to come In the newly revised second edition of Inflated: How Money & Debt Built the American Dream, veteran investment banker, author, and Chairman of Whalen Global Advisors LLC delivers the latest installment of his concise history of the United States' monetary system, putting contemporary financial phenomena like inflation and high housing costs into context. You'll learn to understand how issues like the public debt and the rise of cryptocurrencies can be understood through the lens of how the United States government exploits debt and the monetary system to fund its operations. The author explains: How contemporary concepts like Modern Monetary Theory fit into and influence the American economy How and why the United States' debt has tripled in the last fifteen years and the necessary consequences of that increase The likelihood and potential impacts of another economic correction during the 2020s An engrossing and essential read for anyone interested in the economic and monetary realities driving our markets, politics, and societies, the second edition of Inflated is an eye-opening discussion of the drastic changes unfolding in the American economy and the even more dramatic transformations that lie just beyond the horizon.

목차

Preface xv Introduction xv Chapter 1 Free Banking and Private Money 1 The Bank of the United States 5 State Debt Defaults 10 The Age of Andrew Jackson 14 The Panic of 1837 19 The Gold Rush 23 Chapter 2 Lincoln Funds Civil War with Inflation 27 The Lincoln Legacy 29 Financing the War 32 Salmon Chase and Jay Cooke 36 Fisk and Gould Profit by Inflation 39 The Panic of 1873 43 Gold Convertibility Restored 46 Chapter 3 Robber Barons and the Gilded Age 55 Republicans Embrace Silver and Inflation 59 The Panic of 1893 62 The Cross of Silver 64 The Turning Point: 1896 66 Chapter 4 The Rise of the Central Bank 73 The Progressive: Theodore Roosevelt 75 A Flexible Currency 79 The Crisis of 1907 83 The National Monetary Commission 86 The Federal Reserve Act 91 Chapter 5 War, Boom, and Bust 99 An Elastic Dollar 107 A Return to Normalcy 113 The Roaring Twenties 116 New Era Finance 118 The Rise of Consumer Finance 121 America Transformed 123 Prelude to the Depression 128 Stocks Fall, Tariffs Rise 131 Deflation and Crash 1929 137 Chapter 6 New Deal to Cold War 145 Broken Promises 148 Gold Seizure and Devaluation 153 Devaluation and Tariffs 158Rise of the Corporate State 160 The Reconstruction Finance Corporation 166 Central Planning Arrives in Washington 171 Federal Deposit Insurance 173 Centralization of the Fed 176 Eccles and the Corporatist Revolution 183 America Goes to War 188 Wartime Finance 193 Bretton Woods 194 Chapter 7 Debt and Inflation 199 Revenues Grow 204 The Fed Regains Independence 207 Postwar Growth 210 Cold War, Free Trade 213 The Golden Age 218

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저자(글) R. Christopher Whalen