The Inflation Myth and the Wonderful World of Deflation - by Mark Mobius (Hardcover)
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<p/><br></br><p><b> About the Book </b></p></br></br>"This book is designed to ask questions regarding a subject that is important to everyone and of which there is a great deal of debate: Inflation. I want to lay out the following ideas: First, the concept of inflation is a myth, a legend, a fable and, yes, a falsehood for a number of reasons. Prices of goods and services in terms of the currency of the day rise from time to time but those prices manifest themselves in different places and at different times in a multitude of ways for different people. Second, the interest in inflation statistics is of immense interest to governments around the world because rising prices elicit a political response among their constituents. Governments often rise and fall on the perception people have about the prices of goods and services they consume. Therefore, governments try their best to measure inflation and in doing so simplify and generalize. Third, the measurement of inflation is severely flawed not because the diligent people who gather statistics regarding the prices of goods and services around the world are not being qualified or faithful to their effort, but because they are not only shooting at a moving target with prices changing up or down in a minute by minute basis but also the very nature of the products and services they are trying to measure are continuously changing"--<p/><br></br><p><b> Book Synopsis </b></p></br></br><p><b>What if everything you've learned about inflation is </b><b>wrong?</b> </p> <p><i>The Inflation Myth and the Wonderful World of Deflation</i> illustrates our rapidly changing world where constant technological innovation leads to cheaper and better products. These changes are no longer reflected in the ways we measure inflation. Renowned investor and author Mark Mobius persuasively argues that what we believe to know about inflation today does not reflect the reality any longer. It is a myth, a legend, a fable, and, yes, a falsehood for a number of reasons. </p> <p><i>The Inflation Myth and the Wonderful World of Deflation</i> tackles a number of fascinating topics, including: </p> <ul> The political nature of inflation measurement where governments manipulate and exploit inflation numbers to fit their economic programs </li> The extreme difficulty involved in gathering accurate data to measure inflation and the resulting inaccuracy of those measures </li> The error of using currencies to measure inflation when those currencies are continually being debased by the governments who issue them </li> Finally, and most importantly, the advances in technology and automation which are leading to continuously falling costs for goods and services </li> </ul> <p>Perfect for anyone with even a passing interest in macroeconomic phenomena or government policies, which are significantly impacting people's everyday lives around the world, <i>The Inflation Myth and the Wonderful World of Deflation</i> provides a remarkably compelling and provocative view of stunning originality. </p><p/><br></br><p><b> From the Back Cover </b></p></br></br><p>Highly provocative and intuitively compelling, <i>The Inflation Myth and the Wonderful World of Deflation</i> is an indispensably original look at one of the central pillars of macroeconomics: inflation. <p>Squarely taking aim at widely held economic beliefs, investor and author Mark Mobius systematically dismantles the conventional view of inflation. The author persuasively argues that, while the principles of inflation may once have held true, changing technological realities have rendered inflationary measurements highly unreliable, deeply politicised and profoundly inaccurate. <p>A gripping and convincing work of stunning originality, this book reveals that, when it comes to inflation, the emperor really does have no clothes.<p/><br></br><p><b> About the Author </b></p></br></br><p><b>MARK MOBIUS</b> leads Mobius Capital Partners as one of its founding partners. Formerly the executive chairman of Templeton Emerging Markets Group, Mark has extensive experience in economic research and analysis, particularly in emerging markets. He has served on the World Bank's Global Corporate Governance Forum as a member of the Private Sector Advisory Group. <p>www.markmobius.com
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