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A myth-busting explanation of inflation, the desperate gullibility of central bankers and finance ministers--and our abject failure to learn from history From investors and monetary authorities to governments and policy makers, almost everyone had assumed inflation was dead and buried. But now people the world over are confronting a poisonous new economic reality and, with it, the prospect of vast and increasing wealth inequality. How have we arrived in this situation? And what, if anything, can we do about it? Celebrated economist Stephen D. King--one of the few to warn ahead of time about the latest inflationary upheaval--identifies key lessons from the history of inflation that policy makers chose not to heed. From ancient Rome through the American Civil War and up to the asset bubbles of today, inflation stems from policy error, sovereign greed, and a collective loss of faith in currencies. We Need to Talk About Inflation cuts through centuries of bad judgment and misunderstanding, offering a means to intervene now--so we can begin to tackle the political and social upheaval unleashed by inflation

CHAPTER EIGHT FROM ECONOMIC DISAPPOINTMENT TO POLITICAL INSTABILITYTHE MONETARY UPHEAVALS OF THE 1870S; THE ASIAN CRISIS; HOW POLITICAL RESPONSE TRUMPED ECONOMIC THEORY: THREE ASIAN STORIES; ADJUSTING TO A NEW REALITY; CHAPTER NINE DYSTOPIA; BACK TO THE FUTURE: THE LESSONS FROM MEDIEVAL WARFARE; GLOBALIZATION IN REVERSE; MISTRUST OF GOVERNMENT; MISTRUST OF MONEY; THE 'STATELY HOME' EFFECT; EUROZONE CRISIS AND THE PARADOX OF GLOBALIZATION; THE RETURN OF POLITICAL EXTREMISM; CHAPTER TEN AVOIDING DYSTOPIA; DEALING WITH SPACE: RESOLVING THE INTERNATIONAL/DOMESTIC CONFLICT

A NEW 'CONCERT OF EUROPE'?TEETH; 4 PRIDE AND THE FALL; ON THE MARCH; THE CRACKS APPEAR; FROM THE NEW CONVENTIONAL WISDOM TO THE GLOBAL FINANCIAL CRISIS; FASHION; UNDERMINING THE NEW WISDOM; THE GLOBAL FINANCE REVOLUTION; THE RETURN OF NATIONAL SELF-INTEREST; Part Two STATES, ELITES, COMMUNITIES; 5 GLOBALIZATION AND NATION STATES; THE NINETEENTH-CENTURY FRAMEWORK: IMPERIAL POWER; NINETEENTH-AND EARLY TWENTIETH-CENTURY DARWINIAN MARKETS; THE BACKLASH AGAINST GLOBALIZATION; NOT FOR THE LAST TIME, THE BANKS; GLOBALIZATION ABHORS A VACUUM; THE TWENTIETH-CENTURY MODEL: DEFINING THE NATION STATE