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Money Mischief: Episodes in Monetary History
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Milton Friedman demonstrates through historical events the mischief that can result from misunderstanding the monetary system; how, for example, the work of two obscure Scottish chemists destroyed the presidential prospects of William Jennings Bryan, and how Franklin D. Roosevelt's decision to appease a few senators from the American West helped communism triumph in China.
He discusses the creation of value, from stones to feathers to gold. He outlines the central role of monetary theory and...