The Inflation Myth and the Wonderful World of Deflation, reviewed

Review of The Inflation Myth and the Wonderful World of Deflation
 by Mark Mobius, available from Wiley here. 

What if everything you’ve learned about inflation is wrong? 

The Inflation Myth and the Wonderful World of Deflation illustrates our rapidly changing world where constant technological innovation leads to cheaper and better products. These changes are no longer reflected in the ways we measure inflation. Renowned investor and author Mark Mobius persuasively argues that what we believe to know about inflation today does not reflect the reality any longer. It is a myth, a legend, a fable, and, yes, a falsehood for a number of reasons.  

The Inflation Myth and the Wonderful World of Deflation tackles a number of fascinating topics, including: 

The political nature of inflation measurement where governments manipulate and exploit inflation numbers to fit their economic programs . The extreme difficulty involved in gathering accurate data to measure inflation and the resulting inaccuracy of those measures 
The error of using currencies to measure inflation when those currencies are continually being debased by the governments who issue them 
Finally, and most importantly, the advances in technology and automation which are leading to continuously falling costs for goods and services 

Perfect for anyone with even a passing interest in macroeconomic phenomena or government policies, which are significantly impacting people’s everyday lives around the world, The Inflation Myth and the Wonderful World of Deflation provides a remarkably compelling and provocative view of stunning originality. 

The Inflation Myth and the Wonderful World of Deflation, reviewed

A harder book to review in some ways, because it pretty much does what it says on the tin. It does illustrate how the perils of inflation have been hyped up by many world leaders over the last few decades. It is also a fair point that the real price of somethings has drastically fallen over the years. Food, computing among others, has, for most, become much cheaper and more widely available. It also looks like the % of the world’s population living below the poverty line has fallen, massively aided by the rise in affluence in China among others.

Many advocates of bitcoin and crypto currencies in general would also agree with his assertion that the value of the dollar, the euro and many other fiat currencies has been massively devalued by quantitative easing. Currently too, with the new recession stimulus pump priming spending programs being unleashed in the US and the Eurozone, backed by a massive financial expenditure, it is understandable why bitcoin, ether and others are rising in value.

This book is certainly thought provoking and potentially worth a read to get a different perspective on the financial trends currently playing out.

ABOUT THE AUTHOR
MARK MOBIUS leads Mobius Capital Partners as one of its founding partners. Formerly the executive chairman of Templeton Emerging Markets Group, Mark has extensive experience in economic research and analysis, particularly in emerging markets. He has served on the World Bank’s Global Corporate Governance Forum as a member of the Private Sector Advisory Group.

www.markmobius.com

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