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This book provides unique insight into the relationship between economics and family life. Taking ideas from the Austrian school of economics' understanding of monetary theory, it delves into the drivers of family formation, fertility, and family disintegration, with a particular focus on the role of inflation and inflationary policy. By placing questions surrounding family life within a political economy setting, the impact of relative price changes, inflation culture, and specific monetary policies on the role and structure of the family are highlighted.
This book offers a nuanced and robust understanding of the economic causes of the deinstitutionalization of traditional family life. It will be relevant to students and researchers interested in monetary economics and the economics of the family.
"The decline in marriage rates, postponement of marriage, and falling birthrates indicate that the family has been under pressure. While family economics has made some interesting applications of economic theory to explain some of the changes we see in household formation and function, the impact of the central bank's monetary manipulation has been neglected. Jeffery Degner's new book helps fill this gap. His insightful and thorough treatment of the links between inflation and family disintegration is essential to understanding the economics of the modern household." (Dr. Timothy D. Terrell, T.B. Stackhouse Professor of Economics, Wofford College, USA) "What if the most sinister threat to American prosperity is hiding where nobody looks-bad money? Jeffery Degner makes the case. This book is absolutely vital for understanding the roots of our social and economic stagnation and projecting any realistic path forward." (Catherine Ruth Pakaluk, Associate Professor, The Catholic University of America, USA, and author of "Hannah's Children: The Women Quietly Defying the Birth Dearth") "Dr. Degner reminds us that monetary policy shapes the decisions of families, as well as those of firms. This book follows in the great tradition of the Late Scholastics, who discovered economic laws as they attempted to explain why the King's currency debasement was hurting poor families in 16th-century Spain (amongst other things). It is important reading for anyone who is interested in understanding contemporary family life and the unintended consequences of monetary policy." (Clara Piano, Assistant Professor of Economics, The University of Mississippi, USA) "A rigorous analysis of how inflation erodes the foundation and progress of family life. With sharp economic insight, Dr. Degner exposes the hidden costs of rising prices-distorting priorities, delaying milestones, and reshaping family formation. Essential reading for economists and their students studying or generally concerned with economic stability, generational wealth, and the future of household life in America and around the world." (Peter C. Earle, Ph.D, Director of Economics and Economic Freedom, American Institute for Economic Research, USA) "What does inflation have to do with family instability and breakdown? The answer, Jeffery Degner shows, is quite a lot. Monetary instability and the economic and political mindsets that drive it have steadily corroded many of the conditions that help families flourish. Thanks to Degner, we have a much better understanding of how this occurs and what to do about it." (Samuel Gregg, Friedrich Hayek Chair in Economics and Economic History, American Institute for Economic Research, USA) "In his book Inflation and the Family , Jeffery L. Degner has made a significant, fascinating, and, quite frankly, impressive contribution to both economics and sociology. Demonstrating excellent scholarship with clear writing, Degner thoughtfully places his topic within the context of the history of economic thought regarding the family, and his analysis firmly within the framework of sound monetary and macroeconomic theory and policy. He compellingly explains how inflationary monetary policy has led to the financialization of the US economy and fostered a culture that contributes to delaying marriage, encouraging cohabitation, lowering fertility, and increasing the likelihood of divorce for those harmed by inflation." (Shawn Ritenour, Professor of Economics, Grove City College, USA) " Inflation and the Family: Monetary Policy's Impact on Household Life assembles numerous economic reasons to explain why unsound money is not only non-neutral, but also a serious disruptor of the institution of the family. There are many culprits suspected of thwarting family formation and domestic stability, but inflation is one that is too often overlooked. Jeffery Degner corrects that deficiency by making the case that inflation should be listed among them." (Stephen P. Barrows, Ph.D., Acton Institute, USA)
Jeffery L. Degner is Dean of the School of Business & Innovation and Assistant Professor of Economics at Cornerstone University and is a Fellow of the Mises Institute.
1. Theoretical Economics and the Family.- 2. Empirical Economics and the Family.- 3. Money Production and Cantillon Effects.- 4. Monetary Policy and the Emergence of the Inflation Culture.- 5. Empirics on Inflationary Institutions and Habits on Family Life.- 6. The Econometrics of Monetary Policy, Inflation Culture, and Family Life.- 7. Conclusion.
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