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Book Cover
Author Marquard, Steven.

Title The distortion theory of macroeconomic forecasting : a guide for economists and investors / Steven Marquard
Published Westport, Conn. : Quorum Books, 1994


Location Call no. Vol. Availability
 W'PONDS  339.3 Mar/Dto  AVAILABLE
Description x, 207 pages : illustrations ; 24 cm
Contents 1. Money Systems and Depression -- 2. The Capital Structure -- 3. Money, Prices, and Velocity -- 4. Interest and Credit -- 5. Banking Functions -- 6. Business Cycle Theories -- 7. The Rise of Paper -- 8. Price Stability: The Basic Error -- 9. Direct Distortion -- 10. The Money Illusion -- 11. Bank Credit Expansion -- 12. Gresham's Law and Velocity Induction -- 13. Empirical Velocity -- 14. Interest-Intensive Production Processes -- 15. Real and Nominal Interest Rates -- 16. The Business Cycle Black Box -- 17. The Stock Market -- 18. The Budget Deficit -- 19. Anatomy of a Business Cycle -- 20. Anatomy of a Depression -- 21. Anatomy of an Inflation Phase -- 22. Price Controls, Incomes Policies, and Indexing -- 23. A Long or a Short Depression? -- 24. The Full Gold Standard -- 25. Summary
Summary Central bank policies inevitably alter patterns of supply and demand from what they would be, based on consumer sovereignty. This changes the mix of human and physical capital available to produce a mixture of consumer goods. The economy struggles to right itself against these imbalances. Ultimately, the monetary velocity and price inflation start to rise, worsening the government's problems. In time, either a traditional depression or a runaway inflation results. The gold standard would prevent the twin evils of recession and price inflation. Investment professionals, corporate economists and others in strategic and financial planning capacities will find Mr. Marquard's book both challenging and provocative
This book contends that central bank policy pits the Federal Reserve against consumers, creating business cycles and inflation. As the cycle proceeds, the velocity of money starts to rise, complicating the central bank's problems. Ultimately, either a depression or a runaway inflation develops. The gold standard would not alter patterns of supply and demand and would prevent business cycles and inflation
Analysis Macroeconomics
Bibliography Includes bibliographical references and index
Subject Business cycles.
Economic forecasting.
LC no. 93042761
ISBN 0899309100 (alk. paper)