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List Price: $26.00Amazon.com's Price: $17.16 You Save: $8.84 (34%)Prices subject to change.
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Binding: Hardcover
Dewey Decimal Number: 332.410973
EAN: 9780375505485
ISBN: 0375505482
Label: Random House
Manufacturer: Random House
Number Of Items: 1
Number Of Pages: 336
Publication Date: November 11, 2008
Publisher: Random House
Release Date: November 11, 2008
Sales Rank: 3488
Studio: Random House
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Editorial Review:
Product Description:
It’s a giant gap in our history. The Great Inflation, argues award-winning columnist Robert J. Samuelson in this provocative book, was the worst domestic policy blunder of the postwar era and played a crucial role in transforming American politics, economy, and everyday life–and yet its story is hardly remembered or appreciated. In these uncertain economic times, it is more imperative than ever that we understand what happened in the 1960s and 1970s, lest we be doomed to repeat our mistakes.
From 1960 to 1979, inflation rose from barely more than 1 percent to nearly 14 percent. It was the greatest peacetime inflationary spike in this nation’s history, and it had massive repercussions in every area of our lives. The direct consequences included Ronald Reagan’s election to the presidency in 1980, stagnation in living standards, and a growing belief–both in America and abroad–that the great-power status of the United States was ending. The Great Inflation and Its Aftermath traces the origins and rise of double-digit inflation and its fall in the brutal 1981-82 recession, engineered by the Federal Reserve under then-chairman Paul Volcker and with the staunch backing of Reagan.
But that is only half the story. The end of high inflation triggered economic and social changes that are still with us. The stock market and housing booms were both direct outcomes; American business became more productive–and also much less protective of workers; and globalization was encouraged.
We cannot understand today’s world, Samuelson contends, without understanding the Great Inflation and its aftermath. Nor can we prepare for the future unless we heed its lessons. This incisive and enlightening book will stand as the authoritative account of a watershed event of our times.
Praise for The Great Inflation and Its Aftermath
'Newsweek and Washington Post columnist Samuelson is one of the rare journalists who debates politics and economics with a healthy skepticism toward conventional wisdom. Politicians would do well to study [the errors] the past that teach that choosing quick fixes only delays and worsens the inevitable.”– Booklist
'If you want to understand the economic events of the last half century, you should read. . . Robert Samuelson's The Great Inflation and Its Aftermath: --U.S News & World Report.
Customer Reviews
Average Rating: 
Rating:  - I don't think Samuelson knows what he is talking about.
I don't think Samuelson knows what he is talking about. He is not an economist, although one could easily get the impression that he is from the book. But, I'm not one either. Nevertheless, despite his occasional denials, the reader quickly gets the impression that inflation has been THE story of economic history in the later 20th century. His message is only too apparent: inflation causes pain, disinflation causes prosperity.
I just don't think that point of view stands up to scrutiny. ... Read More
Rating:  - Mangled Thinking
Robert Samuelson's simple thesis is that the great inflations of the 70s were caused by misguided government policies, and that it took the Volker high interest rates and a severe recession of the 81-82 to cure that. He also claims that the prosperity and the low inflation of 80s, and 90s are due to this "cure." While these might be true, he did not make the logical connection in the book. Just as is typical of his column in the Newsweek, the thinking is muddled, the presentation is full of narratives ... Read More
Rating:  - Somewhat Interesting; Also Confused and Sometimes Tedious
Samuelson believes "The Great Inflation" (1960s-1970s) was the worst domestic policy blunder of the postwar economy. From 1960 to 1979, inflation rose from barely more than 1% to nearly 14%. Direct consequences included Reagan's 1980 election, stagnation in living standards, and a growing belief that the great-power status of the U.S. was ending. The stock market stagnated, with the DJIA no higher in 1982 than 1965. It also undermined hard work, savings, and planning ahead. The subsequent stock market, ... Read More
Rating: - Disappointing
Would not recommend it. Rather tedious and not as informative as I had expected. Moreover the writter's style is not to my liking.
H.W.Hallman
Denver, CO
Rating:  - A good book but not quite a great one
If, as Robert J. Samuelson asserts, the "Great Inflation" has largely been forgotten, then this book renders an important service. It is hard for someone who lived through the years and events recounted here to believe that they have been forgotten, but perhaps it's so. Samuelson's book is generally excellent, but there are some problems: 1. The basic historical narrative is not as coherent as it might be. A more precise chronology of the development of inflation is needed. Too often the reader is taken ... Read More
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Dewey Decimal Number: 332.410973
EAN: 9780375505485
ISBN: 0375505482
Label: Random House
Manufacturer: Random House
Number Of Items: 1
Number Of Pages: 336
Publication Date: November 11, 2008
Publisher: Random House
Release Date: November 11, 2008
Sales Rank: 3488
Studio: Random House