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New German-Language Book on Monetary Policy


Philipp Bagus and Andreas Marquart have co-authored a new introductory text on monetary policy for German-language readers.

Here's a brief description:

In Warum anderen auf Ihre Kosten immer reicher werden - und welche Rolle Staat und Papiergield dabei spielen (transl. Why You Pay For Others to Get Richer - And What the Government and Paper Money Have to do with It) A. Marquart and P. Bagus offer an introduction to the perverse consequences of our present fiat money system directed toward a popular audience. Throughout the book Marquart and Bagus compare good or private money and a society based on it with society based on bad or state money. They explain how money arises on the free market and how and why governments got involved into the monetary system. They show how business cycles distort the economy, how the government and the financial sector benefit from the current monetary system, how the fiat money system allows for an unjust redistribution impoverishing the middle and lower classes benefiting the super rich, how regulations interact with the monetary system to strangulate the economy, and how fiat money destroys traditional values and the family.

Peter G. Klein is Carl Menger Research Fellow of the Mises Institute and W. W. Caruth Chair and Professor of Entrepreneurship at Baylor University's Hankamer School of Business.

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