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11 Best Books on Inflation for Beginners – Updated in 2021!

Updated: November 25, 2021
8 min read

Economic terms like inflation, deflation, and stagflation may seem daunting, but they are actually relatively easy to comprehend with the right books.

The following texts will break down the concept of inflation for you, clarifying its impact on the cost of living, business, and every other facet of the economy.

At A Glance: The TOP 3 Books on Inflation

1. Top pick: When Money Dies
2. Runner up: The Economics Of Inflation
3. Also great: Dying of Money

Limited time offer: Get one audiobook on Inflation for free by starting your free 30-day trial on Audible.

Top pick
When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany
When Money Dies

This 1975 classic by Adam Fergusson demonstrates the harsh effects of hyperinflation on a country’s economy.

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“When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany” is the story of the Weimar Republic, Germany’s government from 1919 to 1933, and how hyperinflation reduced it to a barter economy.

In 1923, Weimar’s currency depreciated beyond recovery. 

Expensive commodities like jewelry and artworks were routinely exchanged for everyday necessities, such as bread and milk. 

In a desperate move, the Bavarian Prime Minister submitted a bill to the Parliament that proposes gluttony punishable by law.

Combining excellent analysis and firsthand accounts of those who witnessed the Weimar collapse, “When Money Dies” skillfully demonstrates how hyperinflation can happen and its terrible impacts on many aspects of the economy.

The book ultimately focuses on the human side of inflation, of the ordinary masses who struggled to survive, day by day.

It also illustrates the pains of recovery and its lasting legacy.

If you want to know what it was like living under such dismal conditions, then this is the book for you.

Runner up
The Economics of Inflation - A Study of Currency Depreciation in Post War Germany
The Economics Of Inflation

“The Economics of Inflation: A Study Of Currency Depreciation In Post War Germany” is another comprehensive guide on how hyperinflation occurs and its long-term effects.

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Written by Constantino Bresciani-Turroni, the book explains the German economic conditions during Post World War I.

It discusses the inflation in Germany in the 1920s and its vicious aftermath, describing in great detail how people worked around such miserable conditions.

You will also find a sound analysis of the inflation’s causes, from the Bavarian government’s policy decisions to the overprinting of money to curb the growing unrest and unemployment during that time.

Originally written in Italian, this translated edition still features the original text and artwork.

“The Economics of Inflation” is not an easy text to study. It contains an impressive amount of information that can be overwhelming at times.

The insights you will gain, however, are well worth your considerable effort.

Indeed, the book is an excellent resource on how hyperinflation developed in Germany, who was hurt, and who benefitted.

Also great
Dying of Money: Lessons of the Great German and American Inflations
Dying of Money

Jens O. Parsson’s brilliant book covers the great inflation that all but destroyed the German economy in the 1920s.

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“Dying of Money: Lessons of the Great German and American Inflations” explains the hyperinflation that rendered German money almost useless.

Before the plunge, Germany was a nation that enjoyed remarkable prosperity, envied by the rest of the world. 

This all changed in 1923.

Parsson dug deep into the hows and whys of the shocking event, taking it apart to determine what caused it and what made it finally end.

The book also looks into the inflation that has been growing in America since 1962. 

It tackles the cause, citing the ones who were responsible, and identifies who unfairly benefited and who took the brunt.

“Dying of Money” also compares the two inflation, concluding that what happened with the Germans is the same thing transpiring in America.

In the end, the book charts out all the probable projections for American inflation, citing what should be done to avert such a tragedy.

Parsson had a knack for transforming such a dry subject into an electrifying thriller.

You will not regret reading his book.

#4
The Truth About Inflation
The Truth About Inflation

This comprehensive text by Paul Donovan discusses the ins and outs of inflation with investors and practitioners in mind.

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“The Truth About Inflation” skillfully explains the concept of inflation, its composition, and the different measures it represents. 

It does not aim to forecast but to provide a deeper understanding of the phenomena so that you, as an investor, can deliver better judgment and attain the results you need.

You will find a concise summary of the history of inflation and the drivers of price changes.

Donovan explained how the myths you know about inflation are actually consequences of illogical decisions and bad politics.

Without going too technical, “The Truth About Inflation” confers the realities of price changes in the current investing environment. 

This gives investors a solid framework for recognizing and working around inflation in case there will be an upsurge in the future.

Donovan also emphasizes that proper understanding of the politics of inflation for investors is critical to success. 

A pleasure to read, this is the one book you need to understand inflation for what it is and what it is not.

#5
The Inflation Myth and the Wonderful World of Deflation
The Inflation Myth and the Wonderful World of Deflation

Mark Mobius’s “The Inflation Myth and the Wonderful World of Deflation” presents a compelling argument on why the inflation that we know today is no longer relevant.

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The book explains why the information that we learned about inflation does not reflect reality anymore. 

This is because of the rapidly changing work, where continuous technology innovations result in better and discounted products.

Some of the topics discussed in the book include the political nature of inflation measurement, gathering data to measure inflation, and the advances in technology leading to the dwindling cost of goods and services.

According to Mobius, governments tend to exploit inflation to suit their economic programs.

There is also the mistake of using currencies to calculate inflation. This is because those monies are constantly being debased by those who issue them.

“The Inflation Myth and the Wonderful World of Deflation” is an excellent resource for anyone interested in macroeconomics.

If you want to learn how inflation can impact your daily life, you should read this book.

#6
Inflation Matters: Inflationary Wave Theory, its impact on inflation past and present ... and the deflation yet to come
Inflation Matters

“Inflation Matters” by Pete Comley is a reader-friendly, straightforward text on the basics of inflation.

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The book covers everything, from the definition of inflation and its history to how it is measured and its impact on the economy.

It also discusses deflation, explaining how it can be a problem to the country’s financial system. 

Comley expounded on the probable causes of inflation, stating that they are many and complex. 

He revealed that there would always be winners and losers during inflation.

You will learn about the Inflationary Wave Theory, where your efforts as a citizen affect price changes.

This model proposes that long-term inflation is generated through growth in population and competition for resources.

Man’s exploitation of the inflation trend has resulted in a wave-like pattern in price increase, leading to the near-zero inflation of today’s setup.

“Inflation Matters” posits that due to the prevailing conditions of the world economy, investment in the following decades will be challenging.

It is a well-balanced account of the causes of inflation and what we can do about it.

#7
Inflation Hacking: Inflation Investing Techniques to Benefit from High Inflation
Inflation Hacking

Kendrick Fernandez wrote this practical book on how to prepare for inflationary periods and avoid work case scenarios.

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“Inflation Hacking: Inflating Investing Techniques to Benefit from High Inflation” contains sound investment strategies that you can use to protect your business from inflation.

The book explains how inflation, once it hits, becomes a rapid phenomenon that is impossible to obstruct. You see this in the hike of commodity prices. Over time, your standard of living decreases.

For shrewd investors, securing their assets in periods of hyperinflation is guaranteed.

Fernandez provided techniques on how you can be a savvy investor. This involves learning how to recognize the first signs of inflation and obtaining stable currencies.

He also explained how having good long-term debts and investing in the right securities can help.

“Inflation Hacking” teaches you how to calculate inflation using the consumer price index.

There are also helpful tips on the different types of investments. You will find graphs that illustrate the advantages and disadvantages of each so you can decide which is fit for you.

An easy read, it is an excellent addition to your collection of economy books.

#8
Inflation, Unemployment and Capital Malformations
Inflation, Unemployment and Capital Malformations

“Inflation, Unemployment and Capital Malformations” by Bernard Schmitt exposes the significant problems faced by countries with the capitalist economy – inflation and unemployment.

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The book explains the causes of the current problems in the economy and suggests solutions to make them right.

Schmitt proposed a revolutionary method of analyzing macroeconomic foundations to determine the objective origins of both inflation and unemployment.

The book covers most topics on macroeconomics. There are four parts. 

The first includes a discussion on the creation and destruction of wages. In contrast, the second examines the quantitative theory and the quantum theory of inflation, as well as malignant emissions and unemployment.

The last sections deal with solutions and remedies for those significant problems.

If you do not have sufficient background on inflation, Schmitt is an excellent introduction.

It will teach you the essentials on the subject without the struggle of understanding financial jargon.

A comprehensive book, “Inflation, Unemployment and Capital Malformations,” is required if you want to see how inflation affects the world’s economies.

#9
Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics
Economics in One Lesson

Henry Hazlitt’s “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics” explores the fundamental truths about economics and its fallacies.

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Initially published in 1946, the book has become an essential guide to economic theory for readers worldwide.

Deceptively prophetic, it is extensive in its attempt to take apart the economic myths and misconceptions that are prevalent even today.

Many economists have credited Hazlitt for predicting the collapse of the global economy 50 years after printing his book.  

He talked about the dangers of government intervention, the beauty of external solutions, and the importance of free markets and economic liberty for every individual.

Simple and straightforward, “Economics in One Lesson” teaches concepts using anecdotes of common societal issues.

There are no dry lectures on capital allocation or supply and demand.

Hazlitt shaped his outcomes based on reasoned arguments, urging you to do the same as you read.

After reading this book, you will walk away informed and with a different way of thinking about inflation and its effects.

#10
The Price of Tomorrow: Why Deflation Is the Key to an Abundant Future
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This cogent book by Jeff Booth specifies the economic and technological realities defining the world’s financial system.

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In “The Price of Tomorrow: Why Deflation is the Key to an Abundant Future,” Booth talked about the flaw in the institution and how it needs constant growth to operate.

This flaw is centered on technological advances, which are happening faster than our capacity to comprehend them.

While these advancements bring efficiency and abundance to our life, they also lead to economic deflation.

According to Booth, our economic systems are still built for a pre-technology era, which is no longer sustainable in today’s setup. 

He suggested the need to create a new framework anchored on deflation and welcomed the rewards that it can bring. 

Clearly written and accessible, “The Price of Tomorrow” is a wake-up call on how embracing the deflation brought about by technological developments can benefit us all.

It is a timely book that deserves to be read at these trying times.

#11
Monetary Regimes and Inflation: History, Economic and Political Relationships
Monetary Regimes And Inflation

“Monetary Regimes And Inflation: History, Economic and Political” by Peter Bernholz is a comprehensible book that explains how inflation works.

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A perfect read for newbies to economic theory, the book illustrates the economic traits that lead to inflation and how they have happened throughout history.

It explores the many features of inflation by comparing cases from Roman times up to contemporary times.  

You will find profound analyses on the instigators of high and moderate inflations, including the political systems and economic relationships and the significance of monetary regimes. 

Bernholz zeroed in on the stable characteristics of inflation over the years, pointing out their causes.

He also dwelled on the many political conditions that permit the return of secure capitalist economies and the institutional reforms that can end inflations.

Mathematical analysis has been kept to a bare minimum, allowing you to digest all the pointers without being too weighted by data.

Whether you are a student, economist, or banker, you will find “Monetary Regimes And Inflation” a pleasure to read.

Sources:

Business Insider

The truth about Inflation

CBS News

Written by
Jamey Muller
I'm the head-writer @ Knowledge Eager (or, in plain English, I'm the guy writing the majority of the content here). Addicted to the stock market, football, sushi and tacos.
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