Book Title: Free Money, Plan For Prosperity
Author: Roger Malcolm Mitchell
Readability: Great writing style, not too difficult, many Q&A formats which make it easy to read.
Technicality:Not too technical… for a book about economics.
Provides Practical, How To Knowledge On: Understanding the forces of monetary policy that create the world’s economic outcomes.
Summary: Free Money that challenges some of the common held beliefs many have about our economy. For example, do you believe cutting interest rates helps our economy grow? That the U.S. federal debt is too high and is a burden on taxpayers? That a federal surplus would help prevent inflation and recession? That taxes pay for federal spending?
Roger Malcolm Mitchell does an amazing job of explaining many of these complex economic concepts in a way that is simple and easy to understand. He explains that money is simply a commodity, which responds to terms of supply and demand, with the interest rate being the “price” of money. Building on this premise, he explains the tools the government uses to control this price and supply and demand of money and the subsequent consequences.
If you want to participate in an informed opinion about the current economic crisis, and where we should go from here, I would highly recommend this book.Downside: Although some of the ideas may seem counter-intuitive, Free Money does an excellent job of explaining what is necessary to have a growing economy. In a Utopian world, his ideas are fabulous. Figuring out how to implement his ideas in our world becomes more challenging.
