Money Mischief

By Milton Friedman,

Book cover of Money Mischief: Episodes in Monetary History

Book description

"A lively, enlightening introduction to monetary history…from monetarism's most articulate apostle."—Kirkus Reviews"The Oliver Stone of economics" (Chicago Tribune), Nobel Prize laureate Milton Friedman makes clear once and for all that no one, from the local corner merchant to the Wall Street banker to the president of the United States, is…

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Why read it?

2 authors picked Money Mischief as one of their favorite books. Why do they recommend it?

Friedman, a Nobel-winning former Economics professor, writes brilliantly and playfully, and students of economics love to read him. Yet he delves into the heart of the monetary problems that have been confronted historically. This he uses to shed light on how to conduct monetary policy today.

He ranges across the whole of American history. For example, the failure of the Continental Congress’s currency occurred since it was printed to finance the Revolutionary War when there was no federal government and no federal tax revenue. This led to the new US Constitution and the ability to raise taxes, and a stable…

From Max's list on Walter Bagehot’s challenge.

Nobel Prize winner Milton Friedman brings to life an incredible variety of experiences, ranging from the stone money used in the Micronesian island of Yap to lessons on the path to European monetary union. 

This book is also a perfect starting point for learning how money issuance affects prices and the economy. In chapter 2, Friedman provides an incredibly intuitive explanation of how increased money issuance harms people by making their existing holdings less valuable. The scope for monetary actions in one country having profound effects on others is illustrated in chapter 7, which lays out connections between US silver…

From Richard's list on if you didn’t think money matters.

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