The Money Illusion

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The Money Illusion

Author : Scott Sumner
Publisher : University of Chicago Press
ISBN 13 : 0226826562
Total Pages : 415 pages
Book Rating : 4.2/5 (268 download)

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Book Synopsis The Money Illusion by : Scott Sumner

Download or read book The Money Illusion written by Scott Sumner and published by University of Chicago Press. This book was released on 2023-05-06 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. Foregoing 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.

The Money Illusion

Author : Irving Fisher
Publisher : Longmans, Green
ISBN 13 :
Total Pages : 272 pages
Book Rating : 4.:/5 (54 download)

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Book Synopsis The Money Illusion by : Irving Fisher

Download or read book The Money Illusion written by Irving Fisher and published by Longmans, Green. This book was released on 1928 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Illusion of Money

Author : Kyle Cease
Publisher : Hay House, Inc
ISBN 13 : 1401957463
Total Pages : 193 pages
Book Rating : 4.4/5 (19 download)

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Book Synopsis The Illusion of Money by : Kyle Cease

Download or read book The Illusion of Money written by Kyle Cease and published by Hay House, Inc. This book was released on 2022-08-16 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: New York Times best-selling author and comedian-turned-motivational speaker, Kyle Cease, shows how your obsession with money is actually preventing you from living the life of your dreams. "I can't afford that." "Now's not the right time . . . I need to save up." "Quit my job? Are you nuts?!" Sound familiar? Money is one of the biggest excuses we make to not go after what we really want. Our fixation with money--the desire for more of it, and the fear of not having enough of it--is often really just a longing to feel safe. But this obsession with money is coming at a much bigger cost: our sanity, our creativity, our freedom, and our ability to step into our true power. This book is about eliminating the need to seek safety through the illusion of money, and learning to see ourselves for the perfection that we are--so that we can bring our gifts to the world in an authentic way, and allow ourselves to receive massive, true abundance as a result. Kyle Cease has heard excuses like the ones above countless times at his live events, and he has shown people how to completely break through them. In The Illusion of Money, he shares his own experiences as well as practical tools to help readers understand their ingrained beliefs and attachments to money, and how they can tap into our infinite assets and talents. "After 25 years as a successful comedian, actor, transformational speaker, author and junior-league amateur bowler, I've experienced many times how chasing money is not an effective way to create an abundant and fulfilling life. The most alive I've ever felt was after I left my comedy career at its peak to become a transformational speaker. I left tons of guaranteed money and so-called security for a complete unknown. It was terrifying--but what was on the other side of that terror was a completely different life that is not only more abundant financially, but has more freedom, more ease, more passion, more impact and more joy." -- Kyle Cease

The Great Money Illusion

Author : Marc Faber
Publisher :
ISBN 13 : 9780582999046
Total Pages : 507 pages
Book Rating : 4.9/5 (99 download)

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Book Synopsis The Great Money Illusion by : Marc Faber

Download or read book The Great Money Illusion written by Marc Faber and published by . This book was released on 1988 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Life, Money and Illusion

Author : Mike Nickerson
Publisher : New Society Publishers
ISBN 13 : 9781550924411
Total Pages : 464 pages
Book Rating : 4.9/5 (244 download)

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Book Synopsis Life, Money and Illusion by : Mike Nickerson

Download or read book Life, Money and Illusion written by Mike Nickerson and published by New Society Publishers. This book was released on 2009-09-01 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, unchecked growth has brought us to the brink of economic and environmental collapse. Life, Money & Illusion was inspired by the dilemma of having an economic structure that has to grow to remain healthy, while facing the finite limits of our planet. This revised and updated edition launches a review of economic expansion. It examines how growth came to be a goal and how that goal, though once beneficial, is now the propellant for catastrophe. Then, by showing how the economy can be restructured to remain within planetary limits, it points the way to a sustainable future. Life, Money & Illusion advocates change by shifting the dominant economic paradigm from growth to sustainability. Techniques include: Measuring progress with social and environmental indicators, along with economic ones Encouraging investment in community Practical changes, such as full cost accounting, tax shifting, and monetary reform Honoring the Golden Rule instead of the Rule of Gold Focusing more on living than on stuff An engaging and empowering vision of a future that celebrates humanity's extraordinary ability to adapt and evolve, Life, Money & Illusion will appeal to social activists, business people, students, environmentalists, financial planners, economists, parents, grandparents, and anyone else with a stake in the future. Mike Nickerson is an educator and the author of three books on sustainability. He helped draft the Canada Well-Being Measurement Act and lives in Ontario, Canada.

Economic Literacy and Money Illusion

Author : Helena Chytilova
Publisher : Routledge
ISBN 13 : 1315304457
Total Pages : 210 pages
Book Rating : 4.3/5 (153 download)

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Book Synopsis Economic Literacy and Money Illusion by : Helena Chytilova

Download or read book Economic Literacy and Money Illusion written by Helena Chytilova and published by Routledge. This book was released on 2017-07-14 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of money illusion, a recently resurrected phenomenon of behavioral economics, is a real fact of economic life, the potential role of which should no longer be dismissed. Despite money illusion being utterly suppressed by mainstream economists, small deviations from rationality, together with trends in behavioral economics, alleviate the denial of money illusion induced by the rational expectations revolution. This book argues that money illusion seems to be a ubiquitous phenomenon, affecting various areas such as financial markets, housing markets, labor markets, consumption-saving decisions, and even development at the aggregate level induced by coordination issues. Furthermore, in light of the educational efforts of central banks and other institutions, it is worth considering whether solid economic training would provide guidance for the public regarding their decision-making and thereby alleviate the effects of money illusion. The emerging field of experimental economics provides a unique opportunity for us to verify the presence of money illusion. Specifically, attention is devoted to the experimental investigation of reduction in the direct and indirect effects of money illusion with respect to the level of economic literacy acquired through economic education. Economic Literacy and Money Illusion will be of interest to the general audience and to those who are interested in behavioral economics, economics education, and experimental economics, as well as to policy makers and institutions. Last but not least, it will help develop students’ interest in alternative economic theories. NB. The research and writing of this book was made possible with the support of the University of Economics, Prague, Faculty of Economics, Department of Economics.

American Default

Author : Sebastian Edwards
Publisher : Princeton University Press
ISBN 13 : 0691196044
Total Pages : 288 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis American Default by : Sebastian Edwards

Download or read book American Default written by Sebastian Edwards and published by Princeton University Press. This book was released on 2019-09-10 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The untold story of how FDR did the unthinkable to save the American economy.

The Hedge Fund Mirage

Author : Simon A. Lack
Publisher : John Wiley & Sons
ISBN 13 : 1118164318
Total Pages : 208 pages
Book Rating : 4.1/5 (181 download)

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Book Synopsis The Hedge Fund Mirage by : Simon A. Lack

Download or read book The Hedge Fund Mirage written by Simon A. Lack and published by John Wiley & Sons. This book was released on 2012-01-03 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dismal truth about hedge funds and how investors can get a greater share of the profits Shocking but true: if all the money that's ever been invested in hedge funds had been in treasury bills, the results would have been twice as good. Although hedge fund managers have earned some great fortunes, investors as a group have done quite poorly, particularly in recent years. Plagued by high fees, complex legal structures, poor disclosure, and return chasing, investors confront surprisingly meager results. Drawing on an insider's view of industry growth during the 1990s, a time when hedge fund investors did well in part because there were relatively few of them, The Hedge Fund Mirage chronicles the early days of hedge fund investing before institutions got into the game and goes on to describe the seeding business, a specialized area in which investors provide venture capital-type funding to promising but undiscovered hedge funds. Today's investors need to do better, and this book highlights the many subtle and not-so-subtle ways that the returns and risks are biased in favor of the hedge fund manager, and how investors and allocators can redress the imbalance. The surprising frequency of fraud, highlighted with several examples that the author was able to avoid through solid due diligence, industry contacts, and some luck Why new and emerging hedge fund managers are where generally better returns are to be found, because most capital invested is steered towards apparently safer but less profitable large, established funds rather than smaller managers that evoke the more profitable 1990s Hedge fund investors have had it hard in recent years, but The Hedge Fund Mirage is here to change that, by turning the tables on conventional wisdom and putting the hedge fund investor back on top.

Monetary Kaleidics

Author : Michael Hoffman
Publisher :
ISBN 13 : 9781689839242
Total Pages : 328 pages
Book Rating : 4.8/5 (392 download)

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Book Synopsis Monetary Kaleidics by : Michael Hoffman

Download or read book Monetary Kaleidics written by Michael Hoffman and published by . This book was released on 2019-11-02 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the book that some Austrian economists don't want you to read. It's the calm before the storm. The next recession is coming, and the Austrians must be prepared. Since 2009, their forecasts of imminent collapse and hyperinflation have fallen on deaf ears, and for good reason. These predictions were premature and too short-sighted despite being based on a valid business cycle theory. Who's to blame for the next crisis? The Federal Reserve? Fractional reserve banking? The typical Austrian answer is both. Each creates the scourge known as inflation, and this begins the boom and bust cycle. But something is missing from this broader Austrian perspective: kaleidics. Without appreciating the complex nature of money and how it can unleash a devastating deflationary rot on our economy, some free market economists are willing to throw the baby out with the bath water. This book aims to right these wrongs of the Austrian past by taking the best of the tradition and combining it with new and important insights. Aspiring scholars can use this original contribution to advance the Austrian school beyond what Mises and Rothbard had envisioned. In his debut book, Monetary Kaleidics, author Michael Hoffman explores questions including: Why the Austrian school has stagnated in the last decade and how it can recapture the prestige it had during the marginal revolution. How to profit from negative interest rates in the War on Cash with an alternative understanding of Gresham's law. What entrenched wages are and why they matter in a free market. Why monetary disequilibrium theory is important to the future of the Austrian movement. How a local currency can help alleviate unemployment during a recession and enhance the price mechanism. Question everything. What we need is a new path. A different vision. The old doctrines have gotten us this far, but economics and money are not so easy to understand. This new contribution to the Austrian tradition will help you see through the money illusion into a complex world that's in constant flux; just like a kaleidoscope.

Ethics of Money Production

Author : Jörg Guido Hülsmann
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610164520
Total Pages : 294 pages
Book Rating : 4.6/5 (11 download)

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Book Synopsis Ethics of Money Production by : Jörg Guido Hülsmann

Download or read book Ethics of Money Production written by Jörg Guido Hülsmann and published by Ludwig von Mises Institute. This book was released on 2008 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Illusion of Free Markets

Author : Bernard E. Harcourt
Publisher : Harvard University Press
ISBN 13 : 0674971329
Total Pages : 337 pages
Book Rating : 4.6/5 (749 download)

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Book Synopsis The Illusion of Free Markets by : Bernard E. Harcourt

Download or read book The Illusion of Free Markets written by Bernard E. Harcourt and published by Harvard University Press. This book was released on 2012-11-12 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is widely believed today that the free market is the best mechanism ever invented to efficiently allocate resources in society. Just as fundamental as faith in the free market is the belief that government has a legitimate and competent role in policing and the punishment arena. This curious incendiary combination of free market efficiency and the Big Brother state has become seemingly obvious, but it hinges on the illusion of a supposedly natural order in the economic realm. The Illusion of Free Markets argues that our faith in “free markets” has severely distorted American politics and punishment practices. Bernard Harcourt traces the birth of the idea of natural order to eighteenth-century economic thought and reveals its gradual evolution through the Chicago School of economics and ultimately into today’s myth of the free market. The modern category of “liberty” emerged in reaction to an earlier, integrated vision of punishment and public economy, known in the eighteenth century as “police.” This development shaped the dominant belief today that competitive markets are inherently efficient and should be sharply demarcated from a government-run penal sphere. This modern vision rests on a simple but devastating illusion. Superimposing the political categories of “freedom” or “discipline” on forms of market organization has the unfortunate effect of obscuring rather than enlightening. It obscures by making both the free market and the prison system seem natural and necessary. In the process, it facilitated the birth of the penitentiary system in the nineteenth century and its ultimate culmination into mass incarceration today.

The End of Alchemy: Money, Banking, and the Future of the Global Economy

Author : Mervyn King
Publisher : W. W. Norton & Company
ISBN 13 : 0393247031
Total Pages : 287 pages
Book Rating : 4.3/5 (932 download)

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Book Synopsis The End of Alchemy: Money, Banking, and the Future of the Global Economy by : Mervyn King

Download or read book The End of Alchemy: Money, Banking, and the Future of the Global Economy written by Mervyn King and published by W. W. Norton & Company. This book was released on 2016-03-21 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Mervyn King may well have written the most important book to come out of the financial crisis. Agree or disagree, King’s visionary ideas deserve the attention of everyone from economics students to heads of state.” —Lawrence H. Summers Something is wrong with our banking system. We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance. The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation. How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.

The Ascent of Money

Author : Niall Ferguson
Publisher : Penguin
ISBN 13 : 1440654026
Total Pages : 498 pages
Book Rating : 4.4/5 (46 download)

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Book Synopsis The Ascent of Money by : Niall Ferguson

Download or read book The Ascent of Money written by Niall Ferguson and published by Penguin. This book was released on 2008-11-13 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 10th anniversary edition, with new chapters on the crash, Chimerica, and cryptocurrency "[An] excellent, just in time guide to the history of finance and financial crisis." —The Washington Post "Fascinating." —Fareed Zakaria, Newsweek In this updated edition, Niall Ferguson brings his classic financial history of the world up to the present day, tackling the populist backlash that followed the 2008 crisis, the descent of "Chimerica" into a trade war, and the advent of cryptocurrencies, such as Bitcoin, with his signature clarity and expert lens. The Ascent of Money reveals finance as the backbone of history, casting a new light on familiar events: the Renaissance enabled by Italian foreign exchange dealers, the French Revolution traced back to a stock market bubble, the 2008 crisis traced from America's bankruptcy capital, Memphis, to China's boomtown, Chongqing. We may resent the plutocrats of Wall Street but, as Ferguson argues, the evolution of finance has rivaled the importance of any technological innovation in the rise of civilization. Indeed, to study the ascent and descent of money is to study the rise and fall of Western power itself.

The Death of Money

Author : James Rickards
Publisher : Penguin
ISBN 13 : 1591847710
Total Pages : 386 pages
Book Rating : 4.5/5 (918 download)

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Book Synopsis The Death of Money by : James Rickards

Download or read book The Death of Money written by James Rickards and published by Penguin. This book was released on 2017-04-04 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: The next financial collapse will resemble nothing in history. . . . Deciding upon the best course to follow will require comprehending a minefield of risks, while poised at a crossroads, pondering the death of the dollar. The U.S. dollar has been the global reserve currency since the end of World War II. If the dollar fails, the entire international monetary system will fail with it. But optimists have always said, in essence, that confidence in the dollar will never truly be shaken, no matter how high our national debt or how dysfunctional our government. In the last few years, however, the risks have become too big to ignore. While Washington is gridlocked, our biggest rivals—China, Russia, and the oil-producing nations of the Middle East—are doing everything possible to end U.S. monetary hegemony. The potential results: Financial warfare. Deflation. Hyperinflation. Market collapse. Chaos. James Rickards, the acclaimed author of Currency Wars, shows why money itself is now at risk and what we can all do to protect ourselves. He explains the power of converting unreliable investments into real wealth: gold, land, fine art, and other long-term stores of value.

Advances in Behavioral Economics

Author : Colin F. Camerer
Publisher : Princeton University Press
ISBN 13 : 1400829119
Total Pages : 769 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Advances in Behavioral Economics by : Colin F. Camerer

Download or read book Advances in Behavioral Economics written by Colin F. Camerer and published by Princeton University Press. This book was released on 2011-12-12 with total page 769 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twenty years ago, behavioral economics did not exist as a field. Most economists were deeply skeptical--even antagonistic--toward the idea of importing insights from psychology into their field. Today, behavioral economics has become virtually mainstream. It is well represented in prominent journals and top economics departments, and behavioral economists, including several contributors to this volume, have garnered some of the most prestigious awards in the profession. This book assembles the most important papers on behavioral economics published since around 1990. Among the 25 articles are many that update and extend earlier foundational contributions, as well as cutting-edge papers that break new theoretical and empirical ground. Advances in Behavioral Economics will serve as the definitive one-volume resource for those who want to familiarize themselves with the new field or keep up-to-date with the latest developments. It will not only be a core text for students, but will be consulted widely by professional economists, as well as psychologists and social scientists with an interest in how behavioral insights are being applied in economics. The articles, which follow Colin Camerer and George Loewenstein's introduction, are by the editors, George A. Akerlof, Linda Babcock, Shlomo Benartzi, Vincent P. Crawford, Peter Diamond, Ernst Fehr, Robert H. Frank, Shane Frederick, Simon Gächter, David Genesove, Itzhak Gilboa, Uri Gneezy, Robert M. Hutchens, Daniel Kahneman, Jack L. Knetsch, David Laibson, Christopher Mayer, Terrance Odean, Ted O'Donoghue, Aldo Rustichini, David Schmeidler, Klaus M. Schmidt, Eldar Shafir, Hersh M. Shefrin, Chris Starmer, Richard H. Thaler, Amos Tversky, and Janet L. Yellen.

Money with Jess

Author : Jessica Irvine
Publisher : John Wiley & Sons
ISBN 13 : 0730398234
Total Pages : 292 pages
Book Rating : 4.7/5 (33 download)

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Book Synopsis Money with Jess by : Jessica Irvine

Download or read book Money with Jess written by Jessica Irvine and published by John Wiley & Sons. This book was released on 2022-05-16 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn how to get money, how to spend it and how to save it. Does thinking about money make you feel overwhelmed, confused or anxious? That ends now. Join one of Australia’s most loved and respected economics journalists, Jessica Irvine, as she helps you strip away your negative money thoughts and teaches you the real meaning of money: how to get it, how to spend it and how to save it. Whether you want to buy a home, retire comfortably, sleep well at night, leave a job you hate or borrow to build your wealth, learning to budget your money is the foundation of all good money decisions. Money with Jess unpacks the unique and simple system Jess created for organising, tracking and investing her own money. You’ll also find: Over 300 genius hacks to help you boost your income, trim your spending and create the life you truly want. Effective strategies for coming to grips with your own spending habits A colorful system for personal finance that will keep you engaged and interested Money doesn’t have to be intimidating. With Money with Jess, you can forget the fear and learn to make money decisions with confidence.

The Midas Paradox

Author : Scott B. Sumner
Publisher :
ISBN 13 : 9781598131505
Total Pages : 0 pages
Book Rating : 4.1/5 (315 download)

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Book Synopsis The Midas Paradox by : Scott B. Sumner

Download or read book The Midas Paradox written by Scott B. Sumner and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic historians have made great progress in unraveling the causes of the Great Depression, but not until Scott Sumner came along has anyone explained the multitude of twists and turns the economy took. In The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression, Sumner offers his magnum opus--the first book to comprehensively explain both monetary and non-monetary causes of that cataclysm. Drawing on financial market data and contemporaneous news stories, Sumner shows that the Great Depression is ultimately a story of incredibly bad policymaking--by central bankers, legislators, and two presidents--especially mistakes related to monetary policy and wage rates. He also shows that macroeconomic thought has long been captive to a false narrative that continues to misguide policymakers in their quixotic quest to promote robust and sustainable economic growth. The Midas Paradox is a landmark treatise that solves mysteries that have long perplexed economic historians, and corrects misconceptions about the true causes, consequences, and cures of macroeconomic instability. Like Milton Friedman and Anna J. Schwartz's A Monetary History of the United States, 1867-1960, it is one of those rare books destined to shape all future research on the subject.