Subtitle—The Story of Economic Genius
I’m about ¾ finished. Too much biographic detail of various economic giants. This gives context economic problems arose in, but too much biography obstructing the view of the theory for my taste.
Points that I find myself mulling over.
- Pre-WWI Panics. Slowly, dawning recognition of relationship between falling prices and amount of currency in circulation
- Post-WWI Hyperinflation. Printing of money without link to gross product. Theoretical struggle between capitalism and democracy
- Great Depression—theoretical struggle between capitalism and communism. Balanced budgets versus deficit financed public works
- Contrary to what some casual observers of the economic scene believe, central banks did not originate the economic boom-or-bust cycle.
By unknown; uploaded by User:el_bes – Die Presse Edition: Das Imperiale Zeitalter 1871-1914, Public domain, Wikicommons.