The cover motif is a piece of old German money. It is a Reichsbanknote issued on August 22, 1923 for one hundred million marks. Nine years earlier, that many marks would have been about 5 percent of all the German marks in the world, worth 23 million American dollars. On the day it was issued, it was worth about twenty dollars. Three months later, it was worth only a few thousandths of an American cent. The process by which this occurs is known as inflation.

A few years before, in 1920 and 1921, Germany had enjoyed a remarkable prosperity envied by the rest of the world. Prices were steady, business was humming, everyone was working, the stock market was skyrocketing. The Germans were swimming in easy money. Within the year, they were drowning in it. Until it was all over, no one seemed to notice any connection between the earlier false boom and the later inflationary bust.

In this book, Jens O. Parsson performs the neat trick of transforming the dry economic subject of inflation into a white-knuckles kind of blood-chiller. He begins with a freewheeling account of the spectacular inflation that all but destroyed Germany in 1923, taking it apart to find out both what made it tick and what made it finally end. He goes on to look at the American inflation that was steadily gaining force after 1962. In terms clear and fascinating enough for any layman, but with technical validity enough for any economist, he applies the lessons gleaned from the German inflation to find that too much about the American inflation was the same, lacking only the inexorable further deterioration that time would bring. The book concludes by charting out all the possible future prognoses for the American inflation, none easy but some much less catastrophic than others.

Mr. Parsson brings much new light to bear on this subject. He lays on the line in tough, spare language exactly how and why the American inflation was caused, exactly who was responsible for causing it, exactly who unjustly benefited and who suffered from the inflation, exactly why the government could not permit the inflation to stop or even to cease growing worse, exactly who was going to pay the ultimate price, and exactly what would have to be done to avert the ultimate conclusion.

This book packs a wallop. It is not for the timid, and it spares no tender sensibilities. The conclusions it reaches are shocking and are bound to provoke endless dispute. If they proved to approximate even remotely the correct analysis of the American inflation, hardly any American citizen could escape being the prey of inflation and no one could afford not to know where the inflation was taking him. In the economic daily lives of everyone, nothing will be the same after this book as it was before.

Product details

Publisher ‏ : ‎ Wellspring Pr; 1st Edition (January 1, 1974)
Language ‏ : ‎ English
ISBN-10 ‏ : ‎ 0914688014
ISBN-13 ‏ : ‎ 978-0914688013
Item Weight ‏ : ‎ 1.3 pounds
Dimensions ‏ : ‎ 6 x 1.25 x 8.5 inches

Best Sellers Rank: #392,581 in Books (See Top 100 in Books)
- #11,388 in United States History (Books)

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MHall

Great History and explanation of Inflation

Reviewed in the United States 🇺🇸 on August 29, 2022

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This book covers causes of inflation going back to the Roman Empire but focuses on modern inflation theory relative to Germany starting in the 20's, and later USA's inflation starting at the end of WW2 in '49 to '72. Spend now, pay later policies that have become very relevant lately.

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Mephistopheles666

A solid treatise on the causes and misunderstandings about inflation

Reviewed in the United States 🇺🇸 on May 11, 2021

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This book was originally published in1974 but the issues and theories on inflation haven't gone away. This book covers the Wiemar inflationary spiral, although not in as much detail as "When Money Dies" (Fergusson) or "The Downfall of Money" (F. Taylor) . The author delves more into the theories behind what causes inflation and how tricky it is to predict an inflationary period due to the variables that cannot be measured or controlled (Velocity of money, values, etc.). It's a slow read and requires concentration, but if you want another arrow in your informational quiver concerning money and inflation, this is worth the effort. With the continuing government deficit spending and money creation, it might be useful knowledge to have.

16 people found this helpful

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Want American Made

Sobering explanation of inflation and its effects

Reviewed in the United States 🇺🇸 on December 11, 2021

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Still reading as we are looking at the same scenario in this country.

One person found this helpful

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D. Morris

The book to own

Reviewed in the United States 🇺🇸 on December 2, 2008

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Over the past 4 years I've made the study of finance, economics, geo-politics, money and taxation my journey. In doing so I've read countless white papers, comment and around 140 books on the varying subjects, all in an effort to understand 'what is going on'. In an effort to understand the current tertiary teachings, I've also succesfully obtained the CFP (Certified Financial Planner) qualification. And I've found they teach so much incorrectly, especially inflation, its causes and effects.

If I was ever restricted to owning one book, and that one book was to provide the most amount of understanding of a subject, 'Dying of Money' would be that book. I managed to obtain a copy some 18 months ago, and I consider it the pearl of my book collection.

It is well-written, concise, clear, and everytime I've read the book (6 times to date) I've managed to find a new understanding of the subject. Personally I believe that this book should be reprinted and should be made a set-work for secondary school scholars.

Own it. It really is that good.

68 people found this helpful

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Duane Harris

Highly recommend this book.

Reviewed in the United States 🇺🇸 on April 3, 2021

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If you want to know where the country is headed - read this book

11 people found this helpful

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Adem T

Great book on inflation

Reviewed in the United States 🇺🇸 on July 13, 2014

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Great book on inflation, the first half. But the second half calls for more government, which we don't need.

Could have been 5 stars but sadly the author is a statist. And there will always be inflation with statism.

27 people found this helpful

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Charles

A disappointment.

Reviewed in the United States 🇺🇸 on March 12, 2016

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Just because you pay $50 for a paperback book, surely does not mean you will get your money's worth. In this case that maxim holds. The book does not enlighten one beyond very basic insights on inflation nor does it give any meaningful advice on how to operate is such an environment. Save your money and buy the less expensive books on understanding inflations.

18 people found this helpful

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Bill V.

Big government is not the answer

Reviewed in the United States 🇺🇸 on September 11, 2013

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The first half of the book concerning inflation history is great.

The second half of the book concerning solutions is collectivist drivel.

29 people found this helpful

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EG

An absolute must read

Reviewed in the United Kingdom 🇬🇧 on April 5, 2021

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An absolute must read, despite the price!
It’s dense with economic theory, but none of it super abstract. It’s extremely well written with a flowing and clear style.

2 people found this helpful

Mr D

Great book, well written & easily understandable

Reviewed in the United Kingdom 🇬🇧 on August 25, 2014

Verified Purchase

A fantastic and easy to read book, explaining in depth the causes and measures that lead up to both Great German & American inflations.

Will it be different this time around?

4 people found this helpful

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Dying of Money: Lessons of the Great German and American Inflations Hardcover – January 1, 1974

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Dying of Money: Lessons of the Great German and American Inflations Hardcover – January 1, 1974

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