Money Mischief: Episodes in Monetary History (Harvest Book)

Milton Friedman, a Nobel Prize–winning economist and leading figure of the Chicago school of economics, explains how value is created and its effects on personal finances and global markets. Through historical episodes, he illustrates the importance of understanding monetary economics and how monetary theory can trigger or deepen inflation. The book includes anecdotes demonstrating the far-reaching consequences of seemingly minor events—such as how two Scottish chemists affected William Jennings Bryan's presidential prospects, and how FDR's domestic politics influenced communism's rise in China. Friedman provides plain-English explanations of how the U.S. monetary system affects individual paychecks, small business owners, and financial institutions. This work follows his earlier books Capitalism and Freedom and Free to Choose.