Money Mischief: Episodes in Monetary History

Money Mischief Episodes in Monetary History Friedman makes clear once and for all that no one is immune from monetary economics that is from the effects of its theory and its practices He demonstrates through historical events the mischief tha
  • Title: Money Mischief: Episodes in Monetary History
  • Author: Milton Friedman Douglas H. Latimer G.B.D. Smith
  • ISBN: 9780156619301
  • Page: 410
  • Format: Paperback
  • Money Mischief: Episodes in Monetary History
    Friedman makes clear once and for all that no one is immune from monetary economics that is, from the effects of its theory and its practices He demonstrates through historical events the mischief that can result from misunderstanding the monetary system Index.
    Money Mischief: Episodes in Monetary History By Milton Friedman Douglas H. Latimer G.B.D. Smith,

    Money Mischief Episodes in Monetary History by Milton Money Mischief clarifies the significance of monetary economics, for immunization from the impact is unattainable The book chronicles historical episodes into the mystical phenomena known as money that discusses the creation of value in money Money Mischief Episodes in Monetary History by Milton Mar , Money Mischief Episodes in Monetary History by Milton Friedman NOOK Book eBook . . Save % Current price is Original price is . You Save % Money Mischief Money Mischief Episodes in Monetary History Friedman This item Money Mischief Episodes in Monetary History by Milton Friedman Paperback . Only left in stock order soon Ships from and sold by Newsmax Media, Inc Money Mischief Episodes in Monetary History Friedman Milton Friedman covers a number of interesting episodes of monetary history in this book The episode about the bimetallic money system the U.S had until the s is really fascinating Also the

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    About " Milton Friedman Douglas H. Latimer G.B.D. Smith "

  • Milton Friedman Douglas H. Latimer G.B.D. Smith

    Milton Friedman was an American Nobel Laureate economist and public intellectual He made major contributions to the fields of economics and statistics In 1976, he was awarded the Nobel Prize in Economics for his achievements in the fields of consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy He was an advocate of economic freedom.According to The Economist, Friedman was the most influential economist of the second half of the 20th centurypossibly of all of it Former Federal Reserve Board chairman Alan Greenspan stated, There are very few people over the generations who have ideas that are sufficiently original to materially alter the direction of civilization Milton is one of those very few people Source

  • 218 Comments

  • Money Mischief clarifies the significance of monetary economics, for immunization from the impact is unattainable The book chronicles historical episodes into the mystical phenomena known as money that discusses the creation of value in money, the importance of monetary history and the cause of inflation The present monetary system affects all spending and savings in the United States of America as well as the globe where it attempts to manipulate money and credit rather than obey sound monetary [...]


  • Friedman is excellent at condescending to the level of people who don t have a PHD in economics It gives a much clearer understanding of what money actually is I will never look at money in the same way again.



  • Good book Learned about the goldsilver standard in the US and learned a bit about inflation money The island of Yap with their stone money was interesting and the helicopter inflation analogy was good I wish it had an epilogue by another author that ties in the last 20 years to the book, so it wasn t so outdated well I guess a second epilogue since it already has a short one by Milton Friedman I thought he might have been a tad too harsh on central bankers.Quotes I liked from the last chapter I [...]


  • This review is for the Audiobook version I did not much enjoy Money Mischief This was largely due to the audiobook format This format does not suit this book at all There is a large amount of technical discussion about economics including ratios and formulas that is just hard to follow in an audiobook format, despite one whole chapter being omitted specifically because it would be too technical for narration I think the material would have been much easier to digest if there was time to reread a [...]


  • So many years after the original publication date, you would think that this book might not be very interesting before you begin But trust me, you will be surprised to see how Milton Friedman will keep you hooked on until the last chapter.There are so many good things in this book Starting with the concept of stone money on the island of yap, to an analogy of throwing cash into a community from a Helicopter, to the story of Gold and Silver and Bi Metallic Standards and the Coinage act of 1873 fo [...]


  • Milton Friedman s account of monetary history in the pre Industrial to Modern Western world is quite timely in today s fiscal environment With nation level bailouts becoming all too commonplace in the EU Greece, Spain, and now Ireland and the US dollar on the ropes quantitative easement leading to it being dropped as the world s standard currency it seems Friedman s predictions regarding the unquenchable desire of modern politicians to fund their political careers through the debasement i.e thef [...]


  • Marvelous fun and very illuminating Friedman starts out with a South Pacific island whose idea of money is gigantic immobile rocks you keep in your backyard, and then goes on, after a nice explanation of inflation that I d not gotten before, but was fairly detailed on a toy example involving a helicopter dropping cash to a fairly detailed discussion of the whole bimetallic vs gold standard debate that raged through world politics in the 19th century I didn t know that the Industrial Revolution b [...]


  • Milton Freidman is a great read Money is much too important a matter to be left to central bankers neatly sums up his perspective on the necessary role government must play in shaping monetary policy This book explains the symbolic properties or myth of money, touches on the history of the gold and silver standard in the US and abroad, and focuses narrowly on a retrospective analysis of whether US monetary policy made the right decisions with regard to the precious metals and money Following is [...]


  • La historia de la Isla de Uap o Yap donde usaban piedras como dinero es impresionante y como eso se asemeja a la civilizaci n occidental donde se usa papel como dinero.En otro cap tulo, Friedman argumenta como la pol tica intervencionista del expresidente de los EE.UU Franlin Delano Roosevelt, con el fin de elevar el precio de la plata, que empez en 1933, contribuy al triunfo del comunismo en China the silver purchase program contributed to the ultimate triumph of communism in China p.188 Llama [...]


  • This was tough going Since I don t have an economics background, the detailed explanation of bi metalism and national economic policy was very difficult for me The last few chapters on the causes of inflation were quite enlightening Surprisingly, Friedman uses a quote from John Maynard Keynes, who advised FDR during the Great Depression as a chapter heading There is no surer means of overturning the existing basis of society than to debauch the currency The process engages all the hidden forces [...]


  • Substantial inflation is always and everywhere a monetary phenomenon To produce continuing inflation, one requires a printing press on which one can turn out those pieces of paper that we call money Thus it is folly to blame inflation on anyone but the government.A metallic standard gold, silver, or bi metallic necessarily introduces volatility to price levels and leads to an inefficient allocation of resources, but it also disciplines the government s printing presses.The Nobel Prize winner als [...]


  • Milton Friedman covers a number of interesting episodes of monetary history in this book The episode about the bimetallic money system the U.S had until the 1870s is really fascinating Also the discussion of inflation and the incentive the government may have to use inflation to finance spending is very relevant to our current day problems of growing national debt and federal budget deficit I highly recommend this book to anyone who wants to learn about money and its history.


  • Despite Friedman s wit and clarity, this is difficult material to work through More so when he takes an entire chapter to work through the extended math of several of his asumptions I recommend everyone who has any interest in economics to read the first and 8th chapters The first explains that money is merely a medium of exchange, and clarifies why fiat money is fully valid Chapter 8 covers inflation, and dispells many myths that still get involked 25 years later.


  • I didn t actually finish this book, but I m done for now The first chapters kept my attention but once he began to explain an alternate financial history as in what he thinks would have happened, hypothetically, had a certain monetary policy been effected in the late 1800s with graphs and tables I stopped reading.


  • I am sure this is an excellent book.I am a huge fan of Milton Friedman However, I am sad to say that the intricate and detailed economics in Money Mischief were over my head some parts, way over my head It is one of the very few books I did not finish I would not recommend the book unless you have a mind or training to understand complex economics particularly monetary theory.


  • 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.


  • Admittedly I m a little biased here as Milton Friedman is one of my intellectual heroes and favorite economists With that said, this is a fantastic tour of both monetary theory and history It is drafted for a general audience and I d recommend it to anyone interested macroeconomics.


  • 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.




  • 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.


  • 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


  • Excellent real life studies in economics Some very compelling ideas and thought provoking on humanity, money, power and freedom.


  • The rating is less indicative of the quality of the writing or the quality of Friedman s arguments and indicative of the fact that no matter what I do, I can t seem to bring myself to give even a modicum of shit about monetary policy I think the theory is interesting and I think we did too little of it in school , but whenever someone starts talking about how Bank of Nation did Z instead of Y in 19XX and therefore something or other happened, my eyes just glaze over.


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