The Social Costs of Inflation (book review of Inflation and the Family: Monetary Policy’s Impact on Household Life)
Posted by freedomforall 1 week, 2 days ago to Books
Excerpt:
"Degner examines how central banking’s inflationary policies systematically undermine the very foundations of stable family life. The statistical portrait he paints is nothing short of alarming. Consider that “nearly 16 of every 1000 persons formed a newly married household in 1945,” a robust figure reflecting the natural human inclination toward pair-bonding and family formation in a relatively sound monetary environment. Yet by 2018, this number plummeted dramatically: “marriage rates within the U.S. have receded since the mid-80s, where 10.5 marriages per 1000 occurred, down to 6.5 in 2018.”
What makes Degner’s analysis particularly compelling is his recognition that these trends aren’t random social phenomena but predictable consequences of monetary manipulation. The Austrian school has long understood that artificial credit expansion distorts economic calculation and creates perverse incentives throughout society. Degner extends this insight to its logical conclusion: if fiat currency regimes corrupt market signals in every other sphere of human activity, why would family formation be immune?"
"Degner examines how central banking’s inflationary policies systematically undermine the very foundations of stable family life. The statistical portrait he paints is nothing short of alarming. Consider that “nearly 16 of every 1000 persons formed a newly married household in 1945,” a robust figure reflecting the natural human inclination toward pair-bonding and family formation in a relatively sound monetary environment. Yet by 2018, this number plummeted dramatically: “marriage rates within the U.S. have receded since the mid-80s, where 10.5 marriages per 1000 occurred, down to 6.5 in 2018.”
What makes Degner’s analysis particularly compelling is his recognition that these trends aren’t random social phenomena but predictable consequences of monetary manipulation. The Austrian school has long understood that artificial credit expansion distorts economic calculation and creates perverse incentives throughout society. Degner extends this insight to its logical conclusion: if fiat currency regimes corrupt market signals in every other sphere of human activity, why would family formation be immune?"
