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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
The New Depression: The Breakdown of the Paper Money Economy

The New Depression: The Breakdown of the Paper Money Economy

Duncan, Richard

Hardcover

EconomicsInvesting & FinanceGeneral Political Science

Publisher Price: $38.00

ISBN10: 1118157796
ISBN13: 9781118157794
Publisher: Wiley
Published: Apr 3 2012
Pages: 179
Weight: 0.85
Height: 0.76 Width: 6.39 Depth: 9.29
Language: English
Why the global recession is in danger of becoming another Great Depression, and how we can stop it

When the United States stopped backing dollars with gold in 1968, the nature of money changed. All previous constraints on money and credit creation were removed and a new economic paradigm took shape. Economic growth ceased to be driven by capital accumulation and investment as it had been since before the Industrial Revolution. Instead, credit creation and consumption began to drive the economic dynamic. In The New Depression: The Breakdown of the Paper Money Economy, Richard Duncan introduces an analytical framework, The Quantity Theory of Credit, that explains all aspects of the calamity now unfolding: its causes, the rationale for the government's policy response to the crisis, what is likely to happen next, and how those developments will affect asset prices and investment portfolios.

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