Inflation Myth and the Wonderful World of Deflation

Inbunden, Engelska, 2020

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Beskrivning

What if everything you’ve learned about inflation is wrong?The Inflation Myth and the Wonderful World of Deflation illustrates our rapidly changing world where constant technological innovation leads to cheaper and better products. These changes are no longer reflected in the ways we measure inflation. Renowned investor and author Mark Mobius persuasively argues that what we believe to know about inflation today does not reflect the reality any longer. It is a myth, a legend, a fable, and, yes, a falsehood for a number of reasons.The Inflation Myth and the Wonderful World of Deflation tackles a number of fascinating topics, including: The political nature of inflation measurement where governments manipulate and exploit inflation numbers to fit their economic programsThe extreme difficulty involved in gathering accurate data to measure inflation and the resulting inaccuracy of those measuresThe error of using currencies to measure inflation when those currencies are continually being debased by the governments who issue themFinally, and most importantly, the advances in technology and automation which are leading to continuously falling costs for goods and servicesPerfect for anyone with even a passing interest in macroeconomic phenomena or government policies, which are significantly impacting people's everyday lives around the world, The Inflation Myth and the Wonderful World of Deflation provides a remarkably compelling and provocative view of stunning originality.

Produktinformation

Utgivningsdatum:2020-11-02
Mått:142 x 218 x 23 mm
Vikt:440 g
Format:Inbunden
Språk:Engelska
Antal sidor:256
Förlag:John Wiley & Sons Inc
ISBN:9781119741428

Utforska kategorier

Nationalekonomi inom Ekonomi och Ledarskap

Mer om författaren

MARK MOBIUS leads Mobius Capital Partners as one of its founding partners. Formerly the executive chairman of Templeton Emerging Markets Group, Mark has extensive experience in economic research and analysis, particularly in emerging markets. He has served on the World Bank's Global Corporate Governance Forum as a member of the Private Sector Advisory Group. www.markmobius.com

Innehållsförteckning

Preface xiIntroduction xvAcknowledgments xxiiiAbout the Author xxv1 History and Inflation 1History as InflationImportance of Inflation NumbersThe Long CoffinMarco Polo and MoneyGold and Silver CoinsMoney and TrustThe Urge to DebaseRome’s DebasementEngland’s DebasementShells and Money2 The Critical Importance of Inflation Numbers 21Making Important Policy Decisions onInflation DataInternational Interest in InflationThe Influential MeasureImpact on Individual LivesThe Popularity of Inflation NumbersIndia Stops Futures Trading To Influence InflationChina’s Efforts To Influence The CPI NumbersThe Effect of Mexican Tomatoes On InflationVenezuela Attempts To Rein In Inflation ThroughA CryptocurrencyFed UpInflation Numbers Knock-on EffectWage indexingWhen Central Bank Actions Fail To InfluenceInflationInvestment Decisions and Inflation NumbersBank Decisions3 What is Inflation? 37What the Experts SayDefining InflationInflation as a Worldwide Disaster4 What is Hyperinflation? 53What the Experts SayHyperinflations around the WorldThe German Hyperinflation ExperienceYugoslavia: Printing Money To PayGovernment DebtLegalized Looting In ZimbabwePrinting 30 Tons of Zairean Banknotes5 Money Supply and Inflation 67Inflation as a Monetary PhenomenonWhat Is The Money Supply?Measuring Money SupplyMoney Creation through Fractional-ReserveBankingThe Money IllusionCredit Is MoneyThe Collapse of Paper MoneyDemise of the DollarThe Gold StandardThe Universe of Cryptocurrencies6 Measuring Inflation 85Why You Can’t Trust the Inflation NumbersThe History of Measuring InflationBuilding the IndexGin and Inflation MeasurementThe Boskin CommissionUS GDP Numbers QuestionedWhat Are People REALLY Buying?The Changing Time and Place BiasMarket-Basket BiasData Gathering DifficultiesComplexityData GatheringCurrency Change DifferencesCurrency Confusion – The TengePakistan Statistics ConcernsChina’s Suspect StatisticsUK Inflation Index CredibilityIndia – Data Gathering DifficultiesThe Brazil ExperienceUrban–Rural Inflation Differences In ChinaInflation Differences Within TurkeyMalaysia ConcernsSouth Africans Skeptical TooIncome DifferencesWhat Statistics Fail to Measure7 Controlling and Manipulating Inflation 125Governments’ Vested InterestCentral Banks Control AttemptsThe Phillips CurveThe Taylor RuleThe Fisher EffectInflation TargetingThe Magic 2%The Low Inflation TrapArgentina: Lies, Damned LiesBrazil Anti-Inflation EffortsChinese Government Efforts to Control InflationPhilippines Data ControlVenezuela – Eliminating a BillIndia Control EffortsKorea: Consumer Pressure8 The Wonderful World of Deflation 155What the Experts Say:The Trend towards Lower Prices and RisingIncomesFood and GoldProductivity and DeflationTechnology and DeflationDeflation is Next Door – Singapore and MalaysiaPricesDeflating the World’s FairLinking Income and CostsDeflation StatisticsUS DeflationSingapore DeflationJapan DeflationIndia DeflationChina Deflation9 Conclusions 195References 199Index 211