Inflation: What Is It? Why It's Bad-and How to Fix It

"Inflation explains the forces behind the epidemic of soaring prices squeezing individuals and businesses still struggling in the aftermath of the COVID pandemic. An alarming rise in the cost of living has stoked fears of a new crisis resembling the decade-long inflation of the 1970s. Some even raise the specter of a descent into the kind of Weimar-style hyperinflation that has torn apart so many nations. Can this be true? If so, what should be done? How should we prepare for the future?"--
Steve Forbes, Nathan Lewis, and Elizabeth Ames reveal what is behind the inflationary storm that is wreaking havoc on American pocketbooks.“This important book should be read by the Federal Reserve and by all of us who care about our way of life.” —Senator Rand Paul (R-KY)“A scintillating emergency manual for financial survival.” —George GilderInflation: What It Is, Why It’s Bad, and How to Fix It explains what’s behind the worst inflationary storm in more than forty years—one that is dominating the headlines and shaking Americans by their pocketbooks. The cost-of-living explosion since the COVID pandemic has raised alarms about a possible return of a 1970’s-style “Great Inflation.” Some observers even fear a descent into the kind of Weimar-style hyperinflation that has torn apart so many nations. Is this true? If so, what should be done? How should we prepare for the future?Inflation answers these and other questions in an engaging discussion that draws on the singular expertise of Steve Forbes, chairman of Forbes Media, acclaimed for his insights on money and the economy; Nathan Lewis, internationally renowned expert on money and taxation; and author and journalist Elizabeth Ames.The authors say that today’s problems can be solved by discarding longstanding beliefs that helped bring on the current crisis. They include the notion that central banks can create prosperity through artificially creating money “out of thin air,” and also that economic “stability” requires “a little inflation.” Such ideas for decades have been Holy Writ in official Washington. Inflation shows why they are misguided. The book also explains why the current rage for heedless money-printing advocated by left-wing advocates of so-called Modern Monetary Theory is likely to lead the nation—and the world—down the road to disaster.Packed with examples from the headlines and from history Inflation is a unique, real-world exploration of the subject that addresses everyday concerns of Americans under siege by rising prices, including steps you should take to protect your wealth.Inflation is essential reading for everyone seeking to navigate these tumultuous times.