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

Description

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 Gilder 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.

Steve Forbes is Chairman of Forbes Media, the foremost name in business information. A widely respected economic prognosticator and regular broadcast commentator, he hosts the acclaimed webcast "What's Ahead." He is the author and co-author of several books, including Money, the bestselling How Capitalism Will Save Us, and Flat Tax Revolution. He helped create the award-winning documentary In Money We Trust? In 1996 and 2000 he campaigned vigorously for the Republican nomination for the presidency.

"A sharp, incisive explanation of inflation and the threat it poses to our economy and our democracy. 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) "The timing is remarkable for this compelling work, which brilliantly explains the importance of sound money as the foundation for productive economic growth. Steve Forbes, Nathan Lewis, and Elizabeth Ames have articulated a message that rings with moral clarity and indisputable economic logic." -Judy Shelton, senior fellow, Independent Institute "A powerful and compelling discussion that lays out the dangers of inflation-and what it means not only for the economy, but also for us as a society. It is essential reading in these troubled times." -Ken Blackwell, adviser, America First Policy Institute "Inflation and taxes are the two scourges to the economy that the government can actually address. Inflation lets us know that, as in the 1970s, there is a clear way out of our current malaise. If we cut tax rates and target the dollar to gold, America will come back. Simple and correct answers are what I like." -Dr. Arthur Laffer, economist, author, and presidential advisor "Inflation deals with one of the most important and misunderstood issues of all time. Forbes, Lewis, and Ames provide an insightful history of the extraordinary negative impact of inflation and, in Chapter Six, appropriate solutions. Anyone who wants to understand the role of money should read this book." -John Allison, retired president and CEO, Cato Institute, retired chairman and CEO, BB&T (now Truist Financial) "Wealth is knowledge. Rush now to enrich yourself with Inflation, a scintillating emergency manual for financial survival on a planet infested by a raging pandemic of viral politicians and central bankers." -George Gilder, author of the forthcoming Information Theory of Economics