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When Money Destroys Nations: How Hyperinflation Ruined Zimbabwe, How Ordinary People Survived, and Warnings for Nations that Print Money
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About When Money Destroys Nations: How Hyperinflation
Product Description The collapse of the Zimbabwe dollar in 2009 after years of rampant money printing is a frightening example of what lies in store for countries that resort to printing money to pay national debts, bail out banks and oligarchs, and enrich political elites. When Money Destroys Nations tells the gripping story of the disintegration of the once thriving Zimbabwean economy and the inspiring and tragic accounts of how ordinary people survived in turbulent circumstances. Philip Haslam and Russell Lamberti give a straightforward and revealing account of the causes and consequences of Zimbabwe's hyperinflation. Countries around the world are resorting to money printing with their stimulus packages and quantitative easing. Zimbabwe's economic collapse is not an isolated tragedy. It holds lessons for all countries and for all political leaders tempted to take illusory and perilous shortcuts to prosperity. Zimbabwe's lessons must not be ignored. This is the story of When Money Destroys Nations. " Haslam and Lamberti have produced a fascinating, accessible account of how Zimbabweans actually lived (and died) during the world's second-highest hyperinflation..." - Professor Steve H. Hanke, Johns Hopkins University From the Inside Flap "The simplicity, clarity, and great use of metaphors in this book make When Money Destroys Nations a warning for the rest of the world. It makes me ask: 'Will the U.S. be next?'" - Robert Kiyosaki, Educator, Entrepreneur, Investor & Author of Rich Dad Poor Dad To understand the future you must first understand the past. Haslam and Lamberti have done a great job at documenting the Zimbabwean hyperinflation in an easily readable manner. Even if you haven't studied economics or central banking, you'll be able to understand what happens when countries print money and why hyperinflation is coming to countries across the world, including the US dollar. - Jeff Berwick, founder and CEO of The Dollar Vigilante Haslam and Lamberti have produced a fascinating, accessible account of how Zimbabweans actually lived (and died) during the world's second-highest hyperinflation, one that dwarfed the German hyperinflation of 1922-23. Yes, the peak daily inflation rate in Zimbabwe in November 2008 was 98% - an economic tragedy that Haslam and Lamberti skilfully bring to life. - Steve H Hanke, professor of applied economics at the Johns Hopkins University in Baltimore and director of the Cato Institute's Troubled Currencies Project in Washington DC An old and reliable adage states that one can learn either from experience or by reading what others have learned from experience. Most people have not lived through a monetary upheaval and have not experienced the disruptions to society when a currency goes bust. So to learn from others, When Money Destroys Nations should be on everyone's reading list. - James Turk, founder of GoldMoney and co-author of The Money Bubble: What To Do Before It Pops We are rarely, if ever, exposed to what it is like to live through a hyperinflation. This is because it is so economically, socially and psychologically damaging. History records numerous runaway inflations, including ones in Germany, France, Russia, China and in Revolutionary America. With the spectre of hyperinflation looming in the future, When Money Destroys Nations is a timely, accessible, and informative contribution to prepare people for the consequences. - Mark Thornton, Senior Fellow of the Ludwig von Mises Institute and a Research and Fellow with the Independent Institute
