Politicians Spend, We Pay
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"There is a new 'Silk Road'-this time as a path through the complex world of inflation. Roger Silk has produced a thinking person's guide to the theory, measurement, and history of price rises. His vignettes of inflation through time, from 600 BC to the present, are among the most fascinating dimensions of this new volume." -Wally Falcon, Professor Emeritus, Stanford University "I must tell you he wrote an excellent book... I [found it] accurate, written in a moderate tone and extremely well explained. I dedicated [a recent] communication with unit holders to the subject of demand for money/ve...
"There is a new 'Silk Road'-this time as a path through the complex world of inflation. Roger Silk has produced a thinking person's guide to the theory, measurement, and history of price rises. His vignettes of inflation through time, from 600 BC to the present, are among the most fascinating dimensions of this new volume." -Wally Falcon, Professor Emeritus, Stanford University "I must tell you he wrote an excellent book... I [found it] accurate, written in a moderate tone and extremely well explained. I dedicated [a recent] communication with unit holders to the subject of demand for money/velocity and its impact on inflation. Roger did a superb job in explaining it and in exposing some of the measurement problems associated with velocity." -Albert Friedberg, CEO Friedberg Mercantile Group "Milton Friedman told us: You get inflation if and only if the government increases money supply. A s Silk's excellent and highly readable book explains, that's largely correct, but not 100%. Moreover, Friedman's explanation is incomplete-it doesn't explain why a government increases money supply. The answer, according to Silk, is because politicians and voters want to finance new programs-sometimes wars, but often feel-good social programs-and they've already exhausted the borrowing and taxing-the-people routes. Silk's analysis is worrisome. Significant inflation might soon be returning to the United States." -Tim Groseclose, Professor of Economics, George Mason University
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