title: The Great Inflation and Its Aftermath: The Past and Future of American Affluence
author:  Robert J. Samuelson 
description: Samuelson, a columnist for the <I>Washington Post</I> and <I>Newsweek</I>, presents a highly readable and thought-provoking discussion of the crippling inflation that hit the United States from the mid-1960s to 1982, resulting in four recessions. According to the author, the culprit of inflation was the collective failure of communication and candor by the nation's economists; their bad advice became bad policy as both parties in the White House propagated economic ignorance that led to the Great Inflation. The memory of the Great Depression led to a full employment obsession&mdash;among other dangerous myths and stereotypes that were the major barrier to economic convalescence&mdash;culminating in a stalemate that was only lifted during the accidental alliance between Reagan and Federal Reserve chairman Paul Volcker. While business cycles seem milder now (The Great Moderation), the author argues that the cycle could repeat. The book's detailed sketches of the working of the Federal Reserve, stock market and corporate America give a comprehensive picture of the economy, which Samuelson describes as a social, political, and psychological mechanism encompassing ideas and values as much as trade and finance. <I>(Nov.)</I> <BR>Copyright &copy; Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
zlib_text: ![](Images/cover00052.jpeg)
  
  **FIAT MONEY INFLATION**  
   **IN FRANCE**
  
  SPECIAL EDITION FOR  
  BANK OF NEW YORK & TRUST COMPANY  
   _Established 1784_
  
   **FIAT MONEY INFLATION**  
   **IN FRANCE**
  
   _ **How It Came, What It Brought, and**_  
   _ **How It Ended**_
  
   **BY**
  
   **ANDREW DICKSON WHITE, LL.D., Ph.D., D.C.L.**
  
  Late President and Professor of History at Cornell University; Sometime United
  States Minister to Russia and Ambassador to Germany; Author of “A History of
  the Warfare of Science with Theology,” etc.
  
  ![](Images/image00051.jpeg)
  
   **D. APPLETON-CENTURY COMPANY**
  
   **INCORPORATED**
  
   **NEW YORK** | **LONDON**  
  ---|---  
  **1933**  
    
  ![](Images/image00050.jpeg)
  
  Copyright, 1896, by  
  D. APPLETON AND COMPANY
  
  Copyright, 1923, by  
  MRS. ANDREW D. WHITE
  
  All rights reserved. This book, or parts  
  thereof, must not be reproduced in any  
  form without permission of the publisher.
  
  Printed in the United States of America
  
   **INTRODUCTION**
  
  As far back as just before our Civil Wa