"synopsis" may belong to another edition of this title.
Seven surprising facts from WRONG: Nine Economic Policy Disasters and What We Can Learn from Them
1. The American Revolution was fomented by Britain’s insistence that Americans should provide the mother country with raw materials at a reasonable price and buy finished products in return. This led to a somewhat bizarre situation in which an American who wanted to wear a hat made of an American beaver pelt could only buy it after the pelt had been shipped to England, turned into a hat, and shipped back to America to be sold.
2. In the 1600s, Sweden managed to have a coin weighing 43 pounds, causing many large scale transactions to be impossible without a cart and horse. Shortly after this mistake, Sweden switched to paper money.
3. The Federal Reserve System is one of the world’s most powerful and well-regarded central banks. It was not, however, America’s first central bank—or even its second. America had established not one, but two central banks 200 years ago—and dismantled them both before the Federal Reserve was formed.
4. In the 1990s Japan suffered from a financial crisis and deep economic recession. The severity of this “lost decade” can be traced to the authorities’ decision to hide the country’s economic problems for as long as possible. This was accomplished by propping up failing banks, in hopes that they would return to profitability when the economy picked up, rather than closing them.
5. Why did Europe switch to the disastrous Euro as a unified form of currency? Consider the following: During the pre-euro era, if a tourist had started in one of the 12 countries that adopted the euro in 2002 with 100 German marks and then traveled to each of the 11 other eurozone countries doing nothing in each except exchange money into the local currency at each stop, and was charged a standard 3 percent per conversion, he or she would have spent about 28.5 percent of the original sum on commissions alone.
6. The German hyperinflation during the early 1920s was one of the most severe on record. The severity of the hyperinflation led Germans to burn banknotes to generate heat and use them as wallpaper. According to one story, a suitcase filled with money was left by its owner on the sidewalk while he went into a store; when the owner returned to retrieve the suitcase, he discovered that a thief had emptied out the money and stolen the now much lighter suitcase.
7. Shortly before Britain’s announcement of the return to the gold standard in 1925, Winston Churchill hosted a small dinner party with both supporters and opponents of the return to gold. According to the only surviving record of that evening, John Maynard Keynes --one of the era’s most articulate opponents of the gold standard--was not particularly persuasive that evening, and in the following days Britain switched to the gold standard which ultimately contributed to the severity of the Great Depression. Could Keynes’ “off night” have brought about one of the worst economic disasters the industrialized world has ever known?
"About this title" may belong to another edition of this title.
Shipping:
FREE
Within U.S.A.
Book Description hardcover. Condition: New. Seller Inventory # 0199322198-11-31178162
Book Description Hardback or Cased Book. Condition: New. Wrong: Nine Economic Policy Disasters and What We Can Learn from Them 0.9. Book. Seller Inventory # BBS-9780199322190
Book Description Condition: New. Brand New! Not Overstocks or Low Quality Book Club Editions! Direct From the Publisher! We're not a giant, faceless warehouse organization! We're a small town bookstore that loves books and loves it's customers! Buy from Lakeside Books!. Seller Inventory # OTF-S-9780199322190
Book Description Condition: New. . Seller Inventory # 52GZZZ00ZGTN_ns
Book Description Hardcover. Condition: new. New. Fast Shipping and good customer service. Seller Inventory # Holz_New_0199322198
Book Description Condition: New. Seller Inventory # I-9780199322190
Book Description Condition: New. Seller Inventory # ABLIING23Feb2215580051903
Book Description Hardcover. Condition: new. New. Seller Inventory # Wizard0199322198
Book Description Condition: New. Book is in NEW condition. Seller Inventory # 0199322198-2-1
Book Description Condition: New. New! This book is in the same immaculate condition as when it was published. Seller Inventory # 353-0199322198-new