{"product_id":"money-collapse-2e-9781118877326","title":"Money Collapse 2e","description":"\u003cb\u003eExplore the inevitable collapse of the fiat monetary system\u003c\/b\u003e \u003cp\u003e\u003ci\u003ePaper Money Collapse: The Folly of Elastic Money, Second Edition\u003c\/i\u003e challenges the mainstream consensus on money and monetary policy. While it is today generally believed that the transition from 'hard' and inflexible commodity money (such as a gold standard) to entirely flexible and potentially unlimited fiat money under national central banks allows for superior economic stability, \u003ci\u003ePaper Money Collapse\u003c\/i\u003e shows that the opposite is true. Systems of highly elastic and constantly expanding money are not only unnecessary, even for growing economies, they are always extremely destabilizing. Over time, they must lead to substantial imbalances, including excessive levels of debt and distorted asset prices, that will require ever faster money production to sustain. Ultimately, however, there is no alternative to a complete liquidation of these distortions. Based on insights of many renowned economists and in particular of the Austrian School of Economics, the book explains through rigorous logic and in precise language why our system of flexible fiat money is incompatible with a market economy and therefore unsustainable. Paper money systems have always led to economic disintegration--without exception--throughout history. It will not be different for our system and we may be closer to the endgame than many think.\u003c\/p\u003e \u003cp\u003eThe updated second edition incorporates: \u003c\/p\u003e \u003cul\u003e \u003cli\u003eA new introduction and an extended outlook section that discusses various \"endgames\"\u003c\/li\u003e \u003cli\u003eResponses to criticisms, alternative views, and a critical assessment of 'solutions'\u003c\/li\u003e \u003cli\u003eComments on recent policy trends, including attempts to exit the 'easy money' policy mode\u003c\/li\u003e \u003cli\u003eAn evaluation of new crypto-currency Bitcoin\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003ePaper Money Collapse: The Folly of Elastic Money, Second Edition\u003c\/i\u003e clarifies the problem of paper money clearly and eloquently, and proposes multiple routes to a solution.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e\u003cb\u003eDETLEV S. SCHLICHTER\u003c\/b\u003e is an independent economist and investment strategist. He spent 19 years as a trader and portfolio manager in international financial markets, including stints at J.P. Morgan, Merrill Lynch, and Western Asset Management. In his career, Detlev has overseen billions in assets for institutional clients around the globe. He is a frequent commentator on economics and financial markets via his website detlevschlichter.com. Detlev lives with his wife and three children in Hampstead, London.\u003cbr\u003e\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":50461880484114,"sku":"9781118877326","price":28.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0831\/4771\/8930\/files\/img_c39ddae7-ab24-4c6d-9330-72e737c549d2.jpg?v=1730082824","url":"https:\/\/surprise-castle.myshopify.com\/products\/money-collapse-2e-9781118877326","provider":"Surprise Castle","version":"1.0","type":"link"}