In May 1997 Chancellor Gordon Brown declared an end to Boom and Bust economics. Needless to say, he was wrong. But what causes the booms and the busts? And is there anything we can do about it?
In this book, Gareth Seward explains why how we look at booms and busts is wrong, why it is in the interests of economists and governments to keep us looking at them incorrectly, and crucially how we could avoid them in the future.
Using the Austrian Business Cycle Theory as his guide he explains why inflation happens, why it is in the government's interest to keep it high and why it impacts the vulnerable the most.