The book explains how the price level jumped after 1913 and what that meant for households, wages, savings, and debt. It outlines how inflation developed, the spread of higher costs across different goods and services, and the unequal impact on workers, institutions, and the economy.

Written in plain language, it also discusses possible policy paths to deflation, including how to manage money, debt, and government spending to restore stability without repeating past mistakes. The goal is to help readers understand the big picture and the choices facing the economy.

What inflation is and how it changes prices, wages, and spending power
How different groups are affected, from borrowers to savers to governments
Why deflation is considered necessary and how it might be achieved
What monetary policy and public policy can do to avoid extreme outcomes

Ideal for readers of economic history and policy discussions seeking a straightforward explanation of a pivotal era.

"About this title" may belong to another edition of this title.

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