{"product_id":"the-inflation-myth-and-the-wonderful-world-of-deflation-isbn-9781119741428","title":"The Inflation Myth and the Wonderful World of Deflation","description":"\u003cp\u003e\u003cb\u003eWhat if everything you’ve learned about inflation is wrong?\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eThe Inflation Myth and the Wonderful World of Deflation\u003c\/i\u003e illustrates our rapidly changing world where constant technological innovation leads to cheaper and better products. These changes are no longer reflected in the ways we measure inflation. Renowned investor and author Mark Mobius persuasively argues that what we believe to know about inflation today does not reflect the reality any longer. It is a myth, a legend, a fable, and, yes, a falsehood for a number of reasons.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eThe Inflation Myth and the Wonderful World of Deflation\u003c\/i\u003e tackles a number of fascinating topics, including:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eThe political nature of inflation measurement where governments manipulate and exploit inflation numbers to fit their economic programs\u003c\/li\u003e \u003cli\u003eThe extreme difficulty involved in gathering accurate data to measure inflation and the resulting inaccuracy of those measures\u003c\/li\u003e \u003cli\u003eThe error of using currencies to measure inflation when those currencies are continually being debased by the governments who issue them\u003c\/li\u003e \u003cli\u003eFinally, and most importantly, the advances in technology and automation which are leading to continuously falling costs for goods and services\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003ePerfect for anyone with even a passing interest in macroeconomic phenomena or government policies, which are significantly impacting people's everyday lives around the world, \u003ci\u003eThe Inflation Myth and the Wonderful World of Deflation\u003c\/i\u003e provides a remarkably compelling and provocative view of stunning originality.\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eIntroduction xv\u003c\/p\u003e \u003cp\u003eAcknowledgments xxiii\u003c\/p\u003e \u003cp\u003eAbout the Author xxv\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 History and Inflation 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHistory as Inflation\u003c\/p\u003e \u003cp\u003eImportance of Inflation Numbers\u003c\/p\u003e \u003cp\u003eThe Long Coffin\u003c\/p\u003e \u003cp\u003eMarco Polo and Money\u003c\/p\u003e \u003cp\u003eGold and Silver Coins\u003c\/p\u003e \u003cp\u003eMoney and Trust\u003c\/p\u003e \u003cp\u003eThe Urge to Debase\u003c\/p\u003e \u003cp\u003eRome’s Debasement\u003c\/p\u003e \u003cp\u003eEngland’s Debasement\u003c\/p\u003e \u003cp\u003eShells and Money\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 The Critical Importance of Inflation Numbers 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMaking Important Policy Decisions on\u003c\/p\u003e \u003cp\u003eInflation Data\u003c\/p\u003e \u003cp\u003eInternational Interest in Inflation\u003c\/p\u003e \u003cp\u003eThe Influential Measure\u003c\/p\u003e \u003cp\u003eImpact on Individual Lives\u003c\/p\u003e \u003cp\u003eThe Popularity of Inflation Numbers\u003c\/p\u003e \u003cp\u003eIndia Stops Futures Trading To Influence Inflation\u003c\/p\u003e \u003cp\u003eChina’s Efforts To Influence The CPI Numbers\u003c\/p\u003e \u003cp\u003eThe Effect of Mexican Tomatoes On Inflation\u003c\/p\u003e \u003cp\u003eVenezuela Attempts To Rein In Inflation Through\u003c\/p\u003e \u003cp\u003eA Cryptocurrency\u003c\/p\u003e \u003cp\u003eFed Up\u003c\/p\u003e \u003cp\u003eInflation Numbers Knock-on Effect\u003c\/p\u003e \u003cp\u003eWage indexing\u003c\/p\u003e \u003cp\u003eWhen Central Bank Actions Fail To Influence\u003c\/p\u003e \u003cp\u003eInflation\u003c\/p\u003e \u003cp\u003eInvestment Decisions and Inflation Numbers\u003c\/p\u003e \u003cp\u003eBank Decisions\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 What is Inflation? 37\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat the Experts Say\u003c\/p\u003e \u003cp\u003eDefining Inflation\u003c\/p\u003e \u003cp\u003eInflation as a Worldwide Disaster\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 What is Hyperinflation? 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat the Experts Say\u003c\/p\u003e \u003cp\u003eHyperinflations around the World\u003c\/p\u003e \u003cp\u003eThe German Hyperinflation Experience\u003c\/p\u003e \u003cp\u003eYugoslavia: Printing Money To Pay\u003c\/p\u003e \u003cp\u003eGovernment Debt\u003c\/p\u003e \u003cp\u003eLegalized Looting In Zimbabwe\u003c\/p\u003e \u003cp\u003ePrinting 30 Tons of Zairean Banknotes\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 Money Supply and Inflation 67\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInflation as a Monetary Phenomenon\u003c\/p\u003e \u003cp\u003eWhat Is The Money Supply?\u003c\/p\u003e \u003cp\u003eMeasuring Money Supply\u003c\/p\u003e \u003cp\u003eMoney Creation through Fractional-Reserve\u003c\/p\u003e \u003cp\u003eBanking\u003c\/p\u003e \u003cp\u003eThe Money Illusion\u003c\/p\u003e \u003cp\u003eCredit Is Money\u003c\/p\u003e \u003cp\u003eThe Collapse of Paper Money\u003c\/p\u003e \u003cp\u003eDemise of the Dollar\u003c\/p\u003e \u003cp\u003eThe Gold Standard\u003c\/p\u003e \u003cp\u003eThe Universe of Cryptocurrencies\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Measuring Inflation 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy You Can’t Trust the Inflation Numbers\u003c\/p\u003e \u003cp\u003eThe History of Measuring Inflation\u003c\/p\u003e \u003cp\u003eBuilding the Index\u003c\/p\u003e \u003cp\u003eGin and Inflation Measurement\u003c\/p\u003e \u003cp\u003eThe Boskin Commission\u003c\/p\u003e \u003cp\u003eUS GDP Numbers Questioned\u003c\/p\u003e \u003cp\u003eWhat Are People REALLY Buying?\u003c\/p\u003e \u003cp\u003eThe Changing Time and Place Bias\u003c\/p\u003e \u003cp\u003eMarket-Basket Bias\u003c\/p\u003e \u003cp\u003eData Gathering Difficulties\u003c\/p\u003e \u003cp\u003eComplexity\u003c\/p\u003e \u003cp\u003eData Gathering\u003c\/p\u003e \u003cp\u003eCurrency Change Differences\u003c\/p\u003e \u003cp\u003eCurrency Confusion – The Tenge\u003c\/p\u003e \u003cp\u003ePakistan Statistics Concerns\u003c\/p\u003e \u003cp\u003eChina’s Suspect Statistics\u003c\/p\u003e \u003cp\u003eUK Inflation Index Credibility\u003c\/p\u003e \u003cp\u003eIndia – Data Gathering Difficulties\u003c\/p\u003e \u003cp\u003eThe Brazil Experience\u003c\/p\u003e \u003cp\u003eUrban–Rural Inflation Differences In China\u003c\/p\u003e \u003cp\u003eInflation Differences Within Turkey\u003c\/p\u003e \u003cp\u003eMalaysia Concerns\u003c\/p\u003e \u003cp\u003eSouth Africans Skeptical Too\u003c\/p\u003e \u003cp\u003eIncome Differences\u003c\/p\u003e \u003cp\u003eWhat Statistics Fail to Measure\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Controlling and Manipulating Inflation 125\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGovernments’ Vested Interest\u003c\/p\u003e \u003cp\u003eCentral Banks Control Attempts\u003c\/p\u003e \u003cp\u003eThe Phillips Curve\u003c\/p\u003e \u003cp\u003eThe Taylor Rule\u003c\/p\u003e \u003cp\u003eThe Fisher Effect\u003c\/p\u003e \u003cp\u003eInflation Targeting\u003c\/p\u003e \u003cp\u003eThe Magic 2%\u003c\/p\u003e \u003cp\u003eThe Low Inflation Trap\u003c\/p\u003e \u003cp\u003eArgentina: Lies, Damned Lies\u003c\/p\u003e \u003cp\u003eBrazil Anti-Inflation Efforts\u003c\/p\u003e \u003cp\u003eChinese Government Efforts to Control Inflation\u003c\/p\u003e \u003cp\u003ePhilippines Data Control\u003c\/p\u003e \u003cp\u003eVenezuela – Eliminating a Bill\u003c\/p\u003e \u003cp\u003eIndia Control Efforts\u003c\/p\u003e \u003cp\u003eKorea: Consumer Pressure\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 The Wonderful World of Deflation 155\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat the Experts Say:\u003c\/p\u003e \u003cp\u003eThe Trend towards Lower Prices and Rising\u003c\/p\u003e \u003cp\u003eIncomes\u003c\/p\u003e \u003cp\u003eFood and Gold\u003c\/p\u003e \u003cp\u003eProductivity and Deflation\u003c\/p\u003e \u003cp\u003eTechnology and Deflation\u003c\/p\u003e \u003cp\u003eDeflation is Next Door – Singapore and Malaysia\u003c\/p\u003e \u003cp\u003ePrices\u003c\/p\u003e \u003cp\u003eDeflating the World’s Fair\u003c\/p\u003e \u003cp\u003eLinking Income and Costs\u003c\/p\u003e \u003cp\u003eDeflation Statistics\u003c\/p\u003e \u003cp\u003eUS Deflation\u003c\/p\u003e \u003cp\u003eSingapore Deflation\u003c\/p\u003e \u003cp\u003eJapan Deflation\u003c\/p\u003e \u003cp\u003eIndia Deflation\u003c\/p\u003e \u003cp\u003eChina Deflation\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Conclusions 195\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReferences 199\u003c\/p\u003e \u003cp\u003eIndex 211 \u003c\/p\u003e  \u003cp\u003e\u003cb\u003eMARK MOBIUS\u003c\/b\u003e leads Mobius Capital Partners as one of its founding partners. Formerly the executive chairman of Templeton Emerging Markets Group, Mark has extensive experience in economic research and analysis, particularly in emerging markets. He has served on the World Bank's Global Corporate Governance Forum as a member of the Private Sector Advisory Group. \u003c\/p\u003e\u003cp\u003ewww.markmobius.com   \u003c\/p\u003e\u003cp\u003eHighly provocative and intuitively compelling, \u003ci\u003eThe Inflation Myth and the Wonderful World of Deflation\u003c\/i\u003e is an indispensably original look at one of the central pillars of macroeconomics: inflation. \u003c\/p\u003e\u003cp\u003eSquarely taking aim at widely held economic beliefs, investor and author Mark Mobius systematically dismantles the conventional view of inflation. The author persuasively argues that, while the principles of inflation may once have held true, changing technological realities have rendered inflationary measurements highly unreliable, deeply politicised and profoundly inaccurate. \u003c\/p\u003e\u003cp\u003eA gripping and convincing work of stunning originality, this book reveals that, when it comes to inflation, the emperor really does have no clothes.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePraise for the INFLATION MYTH\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"If there's a timelier look at the farcical place the global economy finds itself in 2020 than Mark Mobius' new book, I'd sure love to find it. It almost reads like a public service – as all too many world leaders and investors resurrect the zombie idea that inflation is hiding under every rock. In stark and lively terms, Mobius counters a conventional wisdom that could do more to make lost economic decades great than lead to a productive and vibrant future. The more we engage in paranoia about a phantom inflation crisis, the dimmer our prospects become. As a long-time Japan resident and observer, I can confirm Mobius' take that everything the economists community thinks it knows about deflation needs revision. Kudos to Mobius for penning one.\"\u003cbr\u003e \u003cb\u003e—William Pesek,\u003c\/b\u003e award-winning Tokyo-based journalist; Forbes columnist; author of \u003ci\u003eJapanization: What the World Can Learn from Japan's Lost Decades\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e\"Price stability is more than an economic creed for governments around the world. Rulers know that hyperinflation could shake a nation and they might even be expelled from the throne. In another extreme, advanced economies in the modern world are struggling to tame the deflation-liquidity trap. Mark Mobius' \u003ci\u003eThe Inflation Myth and the Wonderful World of Deflation\u003c\/i\u003e is a fascinating book on this critical economic issue. From Wang Mang in ancient China to Jerome Powell of the US Fed, Mr Mobius has reviewed the global experience of (de)inflation comprehensively and concisely and asks the unavoidable question faced by the policymakers: Is inflation still relevant in managing money supply?\"\u003cbr\u003e \u003cb\u003e—Raymond Yeung,\u003c\/b\u003e Chief Economist Greater China, Australia and New Zealand Banking Group (ANZ) \u003c\/p\u003e\u003cp\u003e\"A very important and interesting book. It focuses on a topic we will be discussing in the next years, with extremely insightful views.\"\u003cbr\u003e \u003cb\u003e—Francisco García Paramés,\u003c\/b\u003e Chairman and CIO, Cobas Asset Management\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990264070373,"sku":"NP9781119741428","price":28.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119741428.jpg?v=1761787117","url":"https:\/\/k12savings.com\/es\/products\/the-inflation-myth-and-the-wonderful-world-of-deflation-isbn-9781119741428","provider":"K12savings","version":"1.0","type":"link"}