Highly provocative and intuitively compelling, The Inflation Myth and the Wonderful World of Deflation is an indispensably original look at one of the central pillars of macroeconomics: inflation. Squarely taking aim at widely held economic beliefs, investor and author Mark Mobius systematically dismantles the conventional view of inflation. The author persuasively argues that, while the principles of inflation may once have held true, changing technological realities have rendered inflationary measurements highly unreliable, deeply politicised and profoundly inaccurate. A gripping and convincing work of stunning originality, this book reveals that, when it comes to inflation, the emperor really does have no clothes.
“Price stability is more than an economic creed for governments around the world. Rulers know that hyperinflation could shake a nation and they might even be expelled from the throne. In another extreme, advanced economies in the modern world are struggling to tame the deflation-liquidity trap. Mark Mobius’s The Inflation Myth and the Wonderful World of Deflation is a fascinating book on this critical economic issue. From Wang Mang in ancient China to Jerome Powell of the US Fed, Mr Mobius has reviewed the global experience of (de)inflation comprehensively and concisely and asks theunavoidable question faced by the policymakers: Is inflation still relevant in managing money supply?"
– Raymond Yeung, Chief Economist Greater China, Australia and New Zealand Banking Group (ANZ)
“A very important and interesting book. It focuses on a topic we will be discussing in the next years, with extremely insightful views.”
– Francisco García Paramés, Chairman and CIO, Cobas Asset Management
“If there’s a timelier look at the farcical place the global economy finds itself in 2020 than Mark Mobius’s new book, I’d sure love to find it. It almost reads like a public service – as all too many world leaders and investors resurrect the zombie idea that inflation is hiding under every rock. In stark and lively terms, Mobius counters conventional wisdom The more we engage in paranoia about a phantom inflation crisis, the dimmer our prospects become. As a long-time Japan resident and observer, I can confirm Mobius’s take that everything the economists community thinks it knows about deflation needs revision. Kudos to Mobius for penning one.”
– William Pesek, award-winning Tokyo-based journalist; Forbes columnist; author of Japanization: What the World Can Learn from Japan's Lost Decades