THE MONEY BALLOON: Inflation and How to Live with It by Sidney Rutberg

THE MONEY BALLOON: Inflation and How to Live with It

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A Child's History of inflationary economics, with attention to the vicissitudes of 1966-74, by the financial editor of the Fairchild newspapers. Since Rutberg reveals that he couldn't tell the difference between ""monetary policy"" and ""fiscal policy"" when he first began covering the field, this is primarily intended for the amateur money-watcher. In a style purported to be witty (it covers a lack of depth), Rutberg recaps the bad news--international monetary devaluations, the trend of banks to sidestep control by the Fed, the takeover of Wall Street by institutions who have driven out the small investor, the concentration of power in the trust departments of the biggest banks, the expansion of the multinationals and the money managers' mania for ""growth."" Minimal attention is paid to the future of petrodollars and the Brazilian solution of ""indexing"" the currency--a dubious planning strategy now being advocated by Milton Friedman and Herman Kahn. The chapter of investment advice isn't worth a continental. Lightweight.

Pub Date: May 23rd, 1975
Publisher: Simon & Schuster