Why the global recession is in danger of becoming another Great Depression, and how we can stop it

When the United States stopped backing dollars with gold in 1968, the nature of money changed. All previous constraints on money and credit creation were removed and a new economic paradigm took shape. Economic growth ceased to be driven by capital accumulation and investment as it had been since before the Industrial Revolution. Instead, credit creation and consumption began to drive the economic dynamic. In "The New Depression: The Breakdown of the Paper Money Economy," Richard Duncan introduces an analytical framework, The Quantity Theory of Credit, that explains all aspects of the calamity now unfolding: its causes, the rationale for the government's policy response to the crisis, what is likely to happen next, and how those developments will affect asset prices and investment portfolios.

In his previous book, "The Dollar Crisis" (2003), Duncan explained why a severe global economic crisis was inevitable given the flaws in the post-Bretton Woods international monetary system, and now he's back to explain what's next. The economic system that emerged following the abandonment of sound money requires credit growth to survive. Yet the private sector can bear no additional debt and the government's creditworthiness is deteriorating rapidly. Should total credit begin to contract significantly, this New Depression will become a New Great Depression, with disastrous economic and geopolitical consequences. That outcome is not inevitable, and this book describes what must be done to prevent it.Presents a fascinating look inside the financial crisis and how the New Depression is poised to become a New Great DepressionIntroduces a new theoretical construct, The Quantity Theory of Credit, that is the key to understanding not only the developments that led to the crisis, but also to understanding how events will play out in the years aheadOffers unique insights from the man who predicted the global economic breakdown

Alarming but essential reading, "The New Depression" explains why the global economy is teetering on the brink of falling into a deep and protracted depression, and how we can restore stability.

This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book. ++++ The below data was compiled from various identification fields in the bibliographic record of this title. This data is provided as an additional tool in helping to ensure edition identification: ++++ The Mystery Of Life As Interpreted By Science Richard Duncan Taylor The W. Scott Pub. Co., Ltd., 1919 Philosophy; General; Life; Philosophy / General; Philosophy of nature

How far were appointments in the Roman Empire based on merit? Did experience matter? What difference did social rank make? This innovative study of the Principate examines the career outcomes of senators and knights by social category. Contrasting patterns emerge from a new database of senatorial careers. Although the highest appointments could reflect experience, a clear preference for the more aristocratic senators is also seen. Bias is visible even in the major army commands and in the most senior civilian posts nominally filled by ballot. In equestrian appointments, successes by the less experienced again suggest the power of social advantage. Senatorial recruitment gradually opened up to include many provincials but Italians still kept their hold on the higher social groupings. The book also considers the senatorial career more widely, while a final section examines slave careers and the phenomenon of voluntary slavery.

This book by the author of The Economy of the Roman Empire: Quantitative Studies considers important interlocking themes. Did the Roman Empire have a single ‘national’ economy, or was its economy localised and fragmented? Can coin and pottery survivals demonstrate the importance of long-distance trade? How fast did essential news travel by sea, and what does that imply about Mediterranean sailing-patterns? Further subjects considered include taxation, commodity-prices, demography, and army pay and manpower. The book is very wide-ranging in its geographical coverage and in the evidence that it explores. By analysing specific features of the economy the contrasting discussions examine important questions about its character and limitations, and about how surviving evidence should be interpreted. The book throws new and significant light on the economic life of Europe and the Mediterranean in antiquity, and will be valuable to ancient historians and students of European economic history.

This book discusses minting and financial policy in the first three centuries of the Roman Empire. By studying Roman coin-survivals in a wider context, the author uncovers important facts about the origin of coin hoards of the Principate. The resulting analyses use extensive coin material collected for the first time. Dr. Duncan-Jones builds up a picture of minting, financial policy and monetary circulation that adds substantially to our knowledge and that stands as the only study of its kind for this period.

This book by the author of The Economy of the Roman Empire: Quantitative Studies considers important interlocking themes. Did the Roman Empire have a single 'national' economy, or was its economy localised and fragmented? Can coin and pottery survivals demonstrate the importance of long-distance trade? How fast did essential news travel by sea, and what does that imply about Mediterranean sailing-patterns? Further subjects considered include taxation, commodity-prices, demography, and army pay and manpower. The book is very wide-ranging in its geographical coverage and in the evidence that it explores. By analysing specific features of the economy the contrasting discussions examine important questions about its character and limitations, and about how surviving evidence should be interpreted. The book throws new and significant light on the economic life of Europe and the Mediterranean in antiquity, and will be valuable to ancient historians and students of European economic history.

How far were appointments in the Roman Empire based on merit? Did experience matter? What difference did social rank make? This innovative study of the Principate examines the career outcomes of senators and knights by social category. Contrasting patterns emerge from a new database of senatorial careers. Although the highest appointments could reflect experience, a clear preference for the more aristocratic senators is also seen. Bias is visible even in the major army commands and in the most senior civilian posts nominally filled by ballot. In equestrian appointments, successes by the less experienced again suggest the power of social advantage. Senatorial recruitment gradually opened up to include many provincials but Italians still kept their hold on the higher social groupings. The book also considers the senatorial career more widely, while a final section examines slave careers and the phenomenon of voluntary slavery.