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The Causes, Costs And Compensations Of Inflation |
William Oliver Coleman, Reader, The Australian National University, Australia
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‘William Coleman’s book offers a highly original and insightful discussion
of the state of modern monetary theory. Professor Coleman covers difficult
issues with a lightness of touch that makes for a very readable discussion.
It will benefit students as well as professional economists and
policymakers.’
– Kevin Dowd, University of Nottingham, UK
This book explores the causes, costs and benefits of inflation. It argues that while the cause of inflation is essentially monetary, the costs and benefits of inflation lie in inflation’s distortion of the economy's responses to real shocks.
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Contents: Part I: Preliminaries 1. A Statement of the Problem Part II: Inflation in a Risk Free World 2. The Theory of the Demand for Money 3. A Theory of the Supply of Money 4. The Quantity Theory of Money 5. Inflation Without a Quantity of Money: The Wicksellian Approach Part III: Inflation in a Risky World 6. Technological Risk and the Social Function of Real Debt 7. Monetary Risk and the Social Function of Money Debt 8. The Quantity Theory in a Risky World 9. Wicksellianism in a Risky World Part IV: The Cost of Inflation 10. The Cost of Inflation as the Cost of Moneylessness 11. The Cost of Inflation as the Cost of Creditlessness 12. A Summarization of Results References Index
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