Money And Inflation

On the basis of theoretical considerations and on the evidence of real-world
economies, Frank Hahn demonstrates in unequivocal terms that Monetarism offers an implausible
solution to the most pervasive economic problems. He confronts the central issue of current economic
theory by making the case that the growth of the money supply is not a necessary cause of inflation,
as the Monetarists have assumed. And he contends that inflation is in any case not the overwhelming
satanic force disrupting society and the economy that the strict Monetarists think it to be on
theoretical grounds and so many others feel it to be in terms of practical economic realities. It is
the tax systems, he points out, that are the real influence at work against the economies of the
industrialized nations.Frank Hahn, one of Britain's most eminent economists, is Professor of
Economics at Cambridge University and author of Equilibrium and Macroeconomics (MIT Press
1985).