When money destroys nations : How hyperinflation ruined Zimbabwe, how ordinary people survived, and warnings for nations that print money
Since the global financial crisis of 2008, the major governments of the world have resorted to printing vast sums of money to pay national debts and bail out banks. The warning signs are clear, and the collapse of the Zimbabwean dollar in 2009 after years of rampant money printing is a frightening example of what lies in store for the world's economies if painful, but necessary, reform is not enacted soon. When Money Destroys Nations tells the gripping story of the disintegration of the once-thriving Zimbabwean economy and how ordinary people survived in turbulent circumstances. Analysing this case within a global context, Philip Haslam and Russell Lamberti investigate the causes of hyperinflation and draw ominous parallels between Zimbabwe and the world's developed economies. The looming currency crises and possible hyperinflation in these major economies, particularly the United States, have the potential to turn the current world order upside down. This story of how money destroys nations holds lessons that cannot be ignored.
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- Paperback | 152 pages
- 01 Sep 2014
- Penguin Books (SA) (Pty) Ltd
- The Penguin Group (SA) (Pty) Ltd
- Parklands, South Africa
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About Philip Haslam
Philip Haslam is a qualified chartered accountant and economic advisor, writer and speaker. As a speaker, he regularly presents to a variety of audiences on money, banking and the international financial system. Philip has lived in both Europe and America, and currently resides in his hometown of Johannesburg. Russell Lamberti is Chief Strategist at an investment strategy advisory firm in South Africa and is co-founder of the Ludwig von Mises Institute of South Africa. Russell participates in roundtable discussion forums with senior monetary policy officials of the South African Reserve Bank. He has also been published in major news and financial publications and makes frequent television and radio appearances to discuss key topics on economics and financial markets. Russell lives with his wife and children in Johannesburg.