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Synopsis

A Short History of Socialist Money is a historical and institutional account of the role of money in the planned economies. The monetary developments in the Soviet Union, East Germany, Poland, Czechoslovakia, Hungary and China up to 1989 are all examined.

The approach is straightforward and firmly empirical, using simple statistics and diagrams to illustrate the major points of theory and evidence. A consistent framework is used to explain the nature of the relationship between inflation and monetary growth in all countries under study.

This book discusses the origins and similar nature of the currencies of the socialist countries, and their value base; analyses the money supply process; studies the relationship between money and prices; reviews various theories of the nature of socialist money; and asks why there is financial crisis in the Soviet Union.

A Short History of Socialist Money is written in a clear and accessible style that will appeal to general readers and students interested in monetary economics, the planned economies, comparative economic studies and economic histories.

'We know far too little about the role of money and monetary policy in socialist countries. Peebles' admirable study greatly reduces our area of ignorance. One only wishes there were more books on economics which were as clear, readable and relevant.' - Professor Alec Nove

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