The Distortion Theory of Macroeconomic Forecasting : A Guide for Economists and Investors
Steven MarquardISBN: 0899309100;
This book contends that central bank policy pits the Federal Reserve against consumers, creating business cycles and inflation. As the cycle progresses, the velocity of money starts to rise, complicating the central bank's problems. Ultimately, either a depression or a runaway inflation develops. The gold standard would not alter patterns of supply and demand and would prevent business cycles and inflation. This is a challenging, provocative guide for investment professionals and corporate economists.
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