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The a B C of Inflation, with Particular Reference to Present-Day Conditions in the United States

by Edwin Walter Kemmerer. 182 pgs.

Contributors:

   Edwin Walter Kemmerer

Publisher:

   Whittlesey House, McGraw-Hill

Place of Publication:

  New York  

Publication Year:

  1942

Subjects:

Inflation (Finance), Inflation (Finance)--United States, Prices--United States

	CONTENTS
	PREFATORY NOTE	vii
	CHAPTER I WHAT IS INFLATION? War and Inflation--Inflation in United States Already Begun--What Is Inflation?--Inflation May Be Viewed from Two Angles.	3
	CHAPTER II CAUSES OF INFLATION VIEWED FROM THE MONETARY ANGLE Deliberate Monetary and Deposit-currency Expansion, or Planned Inflation--Fiscal Inflation, or the Monetization of Government Deficits: Recent Increase in Government Expenditures and Taxes; Government Debt as a Source of Inflation--Increased Supply of Gold--Probable Increase in Deposit Velocities--Inflationary Powers of the President: Gold Content of the Dollar; Movement and Acquisition of Gold; Bimetallism; Greenbacks; Federal Reserve Bank Notes; Stabilization Fund; Silver--Currency Demand--Unique Character of Economic Activity in Time of War.	11
	CHAPTER III CAUSES OF INFLATION VIEWED FROM THE COMMODITY ANGLE Price Changes in the United States during First World War--Price Changes in the United States since the Be­	31
	CHAPTER IV INFLATION AND DEBTS Bonds v. Stocks--Inflation and the Banks--Disadvantages of Inflation to the Banker: Depressed Security Prices as a Result of Advancing Interest Rates; The Case of Government Bonds; Higher Interest Rates on Time Deposits; Increased Banking Activity and Administrative Expenses --Advantages of Inflation to the Banker: Increased Volume of Loans; Decreased Losses and Failures as a Result of General Business Stimulation; Higher Interest Rates on Assets--Inflation and Life Insurance.	42
	CHAPTER V INFLATION AND INTEREST RATES Elements Contained in Interest: Pure Interest; Cost of Administration; Insurance--Depreciation and the Interest Rate--Rising Prices Stimulate Demand for Capital-- The Future.	60
	CHAPTER VI INFLATION AND FOREIGN TRADE Inflation Benefits the Export Trade--Inflation Hurts the Import Trade--Inflation as a Policy for Stimulating a Nation's Foreign Trade Is an Economic Absurdity--Foreign Resistances against Exchange Dumping--Exchange Wars--Creation of Uneconomic Vested Interests.	69
	CHAPTER VII INFLATION AND WAGES General Effect of Inflation on Wages--Historical Retrospect--Wages during Second World War.	77
	CHAPTER VIII INFLATION IN ITS RELATION TO SOCIAL WELFARE ENDOWMENTS AND DEMOCRATIC GOVERNMENT Importance of Educational Endowments in the United States--Chief Effects of Inflation on Endowments: Inflation Destroys Endowments; Inflation Reduces Benefactions--Inflation and Democratic Government: Inflation Tends to Destroy the People's Control of the Public Purse; Inflation Breaks Down Public Morale; Inflation and the Middle Class.	84
	CHAPTER IX CONTROLLING INFLATION--GENERAL CONTROLS Repeal of Inflationary Monetary Laws--Taxation as a Curb to Inflation--Purchase of Government Debt-- Compulsory Saving--Restrictions on Installment Buying: Volume of Consumer--goods Credit; Characteristics of Consumers' Durable Goods; Methods of Restricting Purchases of Consumers' Durable Goods; Federal Reserve Restrictions on Installment Credit.	95
	CHAPTER X CONTROLLING INFLATION--PRICE FIXING PRIOR TO THE END OF FIRST WORLD WAR Methods of Price Fixing--Historical Survey--Price Fixing in the United States during First World War: Short	114
	CHAPTER XI CONTROLLING INFLATION--PRICE REGULATION DURING 1941 Administrative Price Regulations Prior to Emergency Price Control Act of 1942--The Over-all-ceiling v. Selective-price-control Controversy--The Baruch Plan: General Characteristics; Advantages Claimed for the Baruch Plan; Simplicity; Equitability; Quickness of Action; Effectiveness in Maintaining a Price Equilibrium; Favorableness to Good Public Morale--Selective Price-control, or Henderson, Plan: General Characteristics; Merits Claimed for the Selective Price-control Plan: Experience; Flexibility; Minimum of Administration; Minimum of Regimentation; Ease of Timing--Selective Price Control Becomes Law.	127
	CHAPTER XII PRICE CONTROL UNDER THE ACT OF 1942 Purpose and Character of Emergency Price Control Act --Prices of Agricultural Products and Wages--Price Situation between Enactment of Price-control Law and President's Antiinflation Message--Presidential Announcements concerning Price Control--Putting into Effect the Over-all Price-ceiling Program: Coverage; Ceilings; Miscellaneous Provisions--The Future.	144
	PUBLICATIONS CITED IN THE TEXT	161
	INDEX	165

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