Age of Inflation

Professor Hans F. Sennholz is the outstanding student of Ludwig von Mises whose lifetime work specialized in monetary and financial economics. This book is one of his great legacies to economic science. The title Age of Inflation reflects its subject matter and the date of original 1979, the year of the outbreak of double-digit inflation in the US. Sennholz addresses the burning question of inflation's causes, effects, and its future outlook, along with reform proposals. He saw what most all economists of that the Fed cannot and will not stop inflation because its institutional structure is designed to fuel it and the business cycle and declining purchasing power as its major result. Sennholz dares to question the conventional wisdom that the economy is inflation proof. It is not, he argues. In this, he is in sharp disagreement with the Chicago and Keynesian Schools, and he explains why in detail. Perhaps the greatest contribution of this volume appears