eBook - ePub
The Money Illusion
Market Monetarism, the Great Recession, and the Future of Monetary Policy
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- Available on iOS & Android
eBook - ePub
The Money Illusion
Market Monetarism, the Great Recession, and the Future of Monetary Policy
About this book
The first book-length work on market monetarism, written by its leading scholar.
Is it possible that the consensus around what caused the 2008 Great Recession is almost entirely wrong? It's happened before. Just as Milton Friedman and Anna Schwartz led the economics community in the 1960s to reevaluate its view of what caused the Great Depression, the same may be happening now to our understanding of the first economic crisis of the 21st century.
Forgoing the usual relitigating of problems such as housing markets and banking crises, renowned monetary economist Scott Sumner argues that the Great Recession came down to one thing: nominal GDP, the sum of all nominal spending in the economy, which the Federal Reserve erred in allowing to plummet. The Money Illusion is an end-to-end case for this school of thought, known as market monetarism, written by its leading voice in economics. Based almost entirely on standard macroeconomic concepts, this highly accessible text lays the groundwork for a simple yet fundamentally radical understanding of how monetary policy can work best: providing a stable environment for a market economy to flourish.
Is it possible that the consensus around what caused the 2008 Great Recession is almost entirely wrong? It's happened before. Just as Milton Friedman and Anna Schwartz led the economics community in the 1960s to reevaluate its view of what caused the Great Depression, the same may be happening now to our understanding of the first economic crisis of the 21st century.
Forgoing the usual relitigating of problems such as housing markets and banking crises, renowned monetary economist Scott Sumner argues that the Great Recession came down to one thing: nominal GDP, the sum of all nominal spending in the economy, which the Federal Reserve erred in allowing to plummet. The Money Illusion is an end-to-end case for this school of thought, known as market monetarism, written by its leading voice in economics. Based almost entirely on standard macroeconomic concepts, this highly accessible text lays the groundwork for a simple yet fundamentally radical understanding of how monetary policy can work best: providing a stable environment for a market economy to flourish.
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Yes, you can access The Money Illusion by Scott Sumner in PDF and/or ePUB format, as well as other popular books in Business & Business General. We have over one million books available in our catalogue for you to explore.
Information
Publisher
University of Chicago PressYear
2021Print ISBN
9780226826561, 9780226773681eBook ISBN
9780226773711Table of contents
- Cover
- Title Page
- Copyright Page
- Contents
- Preface
- introduction: the real problem was nominal
- part i. The Value of Money
- part ii. The Dance of the Dollar
- part iii. Never Reason from a Price Change
- part iv. How to Think about Macroeconomics
- part v. The Great Recession
- part vi. What Does It All Mean?
- Acknowledgments
- Notes
- Bibliography
- Index