Exploring the origins of money, the authors argue that the state does not create wealth, but rather, money is generated from nothing in a paper money system. They delve into the detrimental effects of poor monetary practices on the economy and society at large, emphasizing the significance of sound money. Through their analysis, Marquart and Bagus aim to enlighten readers on the impact of currency on economic stability and individual prosperity.
This book analyses the causes and consequences of deflation. In contrast to the widespread belief that deflation would be harmful to the economy as a whole, the author argues that free market deflation is liberating and beneficial. Several myths of deflation are exposed and the reasons for the widespread deflation phobia that serves to justify expansionary monetary policy, i.e., inflation are investigated. Two historical case studies, the growth deflation in the US after the Civil War and the bank credit deflation in Germany during the Great Depression are discussed to illustrate the points made in the theoretical analysis of deflation.