This unique book deals with the most serious macroeconomic failure experienced in the US in the post-war period and the great inflation of the late 1960s and 1970s. It is the first detailed analysis, using Federal Reserve documents, of the thinking behind the inflationary monetary policy during...

Introduction -- Money -- The functions of money and money creation -- The nature of inflation -- The concept of interest -- The order of money and its consequences -- Blueprints for monetary reform -- Finance -- Debt and ownership -- The building blocks of modern finance -- The failures of...