Monetary Central Planning and the State

by Richard M. Ebeling

For over a decade now, the American economy has been on a rollercoaster — an economic boom between 2003 and 2008, followed by a severe economic downturn, and with a historically slow and weak recovery from 2009 until the present. The recession of 2008–2009 had its origin in years of monetary mismanagement by the Federal Reserve System and misguided economic policies emanating from Washington, DC. For the five years between 2003 and 2008, the Federal Reserve flooded the financial markets with a huge amount of money, increasing the total amount in the economy by 50 percent or more by some measures. Many of the rationales for this “activist” monetary and fiscal policy emerged and took form under the cover of the emerging Keynesian revolution as first presented by British economist John Maynard Keynes. Monetary Central Planning and the State offers a detailed critique of the fundamental premises of Keynesian economics, and why its policy prescriptions in fact lead to the very boom-bust cycle the Keynesians claim to want to prevent. This book also explains a powerful alternative theory of money and the business cycle, called "Austrian economics."This is the pathway to finally ending the cycles of booms and busts, and creating a market-based institutional framework for sustainable economic growth and betterment.It is time for monetary freedom to replace the out-of-date belief in government monetary central planning.

Genres: Economics

228 pages, Kindle Edition

First published January 1, 1997

Reviews

[A. · Rating 3 out of 5]

Dense, interesting introduction to the Austrian school of economics, more unqualified assertions about the role of government towards the end

[Janina · Rating 5 out of 5]

Everything we need to know about the Monetary system, including the "Austrian" theory of money and the business cycle in contrast to both Keynesian economics and monetarism, is brilliantly explained in this book. A very great book!