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Asset Inflation and Illusions of Prosperity

In: A Guide to Good Money

Author

Listed:
  • Brendan Brown

    (Hudson Institute)

  • Robert Pringle

    (Central Banking Publications)

Abstract

Bad money can create enticing illusions of prosperity. These illusions stem in part from the fact that the damage done by monetary inflation often remains long hidden from public view. In this chapter, the authors draw out and analyse the illusions of wealth which form under conditions of asset inflation, how they loom so large, how some may morph into reality and how the rest collapse in disillusionment and frustration. They also look in particular at one of the biggest illusions—the accumulation of wealth in residential real estate markets. This is often enhanced by the way borrowers garner revenues from monetary taxation.

Suggested Citation

  • Brendan Brown & Robert Pringle, 2022. "Asset Inflation and Illusions of Prosperity," Springer Books, in: A Guide to Good Money, chapter 0, pages 83-99, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-06041-0_6
    DOI: 10.1007/978-3-031-06041-0_6
    as

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