5 Book Recommendations to Understand Inflation Better

The inflation rate is increasing; what is the reason, and how will it affect your financial situation? The following five books explain everything in detail.

Bitely Team
Last update:calendarApr 20, 2024
Read time:clock6 min
5 Book Recommendations to Understand Inflation Better

The inflation rate is increasing; what is the reason, and how will it affect your financial situation? The following five books explain everything in detail.

Perhaps you've seen the headlines: inflation has peaked in years, and analysts predict it might continue. How does this affect you? First, the cost of products and services will rise, and your money's purchasing power will decline as a recession increases. 

Are you wondering why this is happening and what you can do to manage your money more effectively? It's in these books about inflation that we can find helpful information.

Economists have compiled their knowledge into books so that the ordinary person can better understand the financial system and the economy.

Bitely can help you understand inflation quickly. You can read books whenever and wherever you want. For example, while at work, waiting for an appointment, cooking, or sitting on a bus. Besides being easy to read, they give the best summaries, so you can read them in minutes.

So, finding time for learning is no longer a problem. You can pick whatever category you like, read books in minutes, and reinforce the knowledge you read with questions about the book.

You can learn more about inflation by reading these five books.

Pete Comley's Inflation Matters

Inflation Matters provides a comprehensive analysis of inflation. It discusses everything from defining and calculating inflation to its impact and winners and losers. Throughout the book, you will learn about inflation's history, how it's calculated, and its effects. Deflation is also discussed. Finally, it explains how our efforts affect inflation with the Inflationary Wave Theory.

"The transition towards a near-zero inflation world may not be smooth, and three conditions may need to be fulfilled: a stable money supply, no latent inflation in the system, and debt restructuring to a sustainable level. None of these conditions are met, even in Japan." - Pete Comley.

James Rickards' The Death of Money

James Rickards, an investor, lawyer, and economist, explains how the current global currency system operates and why it won't last.

In the book, Rickards describes the US government's efforts to raise inflation, thereby eating away its massive national debt. In addition, the book discusses how inflation can be induced by pumping more money into the system and why it may not work.

Is there any advice Rickards can give you? First, make sure not to put all your savings in a bank that could lose all its value in hyperinflation. Instead, spread your investments between properties, gold, fine art, and hedge funds, leaving 30 percent as cash in the bank.

In addition, the book explains vital economic terms - such as quantitative easing and fiat money - which will help you gain a deeper understanding of the subject matter.

"Higher prices are the symptom, not the cause, of currency collapse." - James Rickards.

Robert T. Kiyosaki's Second Chance

You are likely familiar with Robert T. Kiyosaki from the book Rich Dad, Poor Dad; however, he has also addressed wealth inequality in the US in his writings.

A detailed explanation of how the rich are becoming richer and the poor are becoming poorer can be found in this book. Additionally, it discusses inflation from another perspective. In Kiyosaki's view, it leads to people putting more savings away, thus causing inflation rates to rise further.

Further, he discusses how readers can break free of financial restrictions and inflation concerns by building assets and using debt wisely.

"It's not what you say out of your mouth that determines your life; it's what you whisper to yourself that has the most power!" - Robert T. Kiyosaki.

Stephanie Kelton's The Deficit Myth

This book explains Modern Monetary Theory and why government spending should not be compared with that of an ordinary family. Since the government prints money, it does not have to follow the same principles as we do when balancing earnings and spending.

The author describes inflation first. Then, you'll discover why adding more money to the economy isn't as simple as you might think. Furthermore, there is an answer to how the government can control inflation like this.

"The debt isn't the reason we can't have nice things. Our broken thinking is. To fix our broken thinking, we need to overcome more than just an aversion to big numbers with the word debt attached. We must beat back every destructive myth that hobbles our thinking." - Stephanie Kelton.

Milton Friedman's Free to Choose

In this book, Milton Friedman, a statistician, economist, and Nobel Prize winner, explores how government impacts the economy and the money we use.

Throughout the book, you will learn how inflation is a secret tax on people since products and services cost more over time. Additionally, it explains how inflation is linked to currency in trade and how specific industry regulations increase prices.

Additionally, the government hints at a way to combat inflation - limiting the government's money creation.

"A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both." - Milton Friedman.

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