Abstract
This chapter introduces a dialogue between sound and unsound money. It sets out the principles of sound money, contrasting these to the unsound reality of the present fiat money world. There is a “look back” to the sound and unsound exits which could have been taken from the false dawn of monetarism and an analysis of why the world took the unsound exit. In part that was due to policy decisions taken by the US hegemon, but the rest of the world and Europe in particular could have defied that lead. Readers are introduced to the key concept of asset inflation ignored by monetarists and Keynesians. The present 2% inflation standard is highly flawed but crucially it produces vast monetary repression tax revenues for governments; it has also spurred fantastic growth of monopoly power amidst huge malinvestment.
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Brown, B., Simonnot, P. (2020). The Tyranny of Unsound Money. In: Europe's Century of Crises Under Dollar Hegemony. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-46653-4_1
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DOI: https://doi.org/10.1007/978-3-030-46653-4_1
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Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-46652-7
Online ISBN: 978-3-030-46653-4
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