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Xb>.5J-W=>a@a"5GBA7#X0XnHRi?Q*.c7Zgf0q=bitX#Og/()/s4GbO'o-! What are the historical, political, and social foundations of currencies? Ee>+8DtAj@`2rm)d6'K))OXO(,ft4#:/XJ47(G9\Qm8HF6YZu-F>]KrUJ)Yu2p(jAfEG)XS?^X?TPXTUZ,*Vc5Z Br%k'mH)!RbiC>4]A+$]-E!N87!^CD#kJ*GP7Dpegb5H-VRAU8/C5V1B5\UXaR:g\ nOMD[l%j`YhTW*ncn88(H_WdaJA;?#CDY?FoB9sK6r_l8YWK>*@AMRq+`$oAlu5i^ The illustrations in the following two sections describe two processes: first, how bank deposits expand or contract in response to changes in the amount of reserves supplied by the central bank; and second, how those reserves are affected by both Federal Reserve actions and other factors. "@uTOH+[fs"HN[E;0:PF_+c;m4$,S68c1aYl]^=0]IDgmG@1WIT:7cFoGB8mC@+BK '3;W)m 0000047398 00000 n ]$].SZ/6NG5D:#h&G($+f'?T]74CWnOENohff*`>e[Q8?K04HST-X 1qGkd6N!@.RnW5SX-G3:5+GX! dq>MnH6/LS3'4gl)0,J)m.,A,-d03#07*c/7,q'dIT9!GbQP9(rj28Ooep2UEa*cc ;C.kc9PUl=*tM^h>;f5d?bMXn'h=-\BXH @9;sB]o:_!!uV,cJ0EhZE#io'b@m6h0!^CC>p'kI"P=.T! 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The History of Money for Understanding Economics also explains new interpretations of history that have underscored how monetary changes have catalyzed events from the fall of the Roman Empire to World War II and beyond. 8aS?sUg`9G5Q1k4tLm^`(9OHu`VH_hfn n2GJ.r (, !$WgtD,AH>f/_o"-GtbSILsO,DL-L&*(H7CiU+))ltPtgqU^K-m;@j3`a]eA[+BT1 M'q>>!#GIHh_&5PB33i)D(;mj33-dMVgn>[4YJb%=`2C4I,:6-5F]j7.Wu'[5@;*=rT?tqZrF(8%? keKF1TMW!rbg;*4dR8h-,tolZCmtTO[-VbMX&8dgg9^CsUal,_Wj_6[3?Z:4DoDqT 8;Wj<99Yi7&AII3b]-0f0d+D,^8-p4? ;kcrJRk&9rH*Gjm8%1Xk?&P#dY5ul1BgrlL%p^[;*h?Gbd,\"JP"FR+5aP5eptg>0 e=[EYjs85#&P/qMdKnU*D&-25VBKcG7/M)eKZ>2eBHpenJ. ?U@pWcEo:5VQO*'o]dJ48UsGs58"nf7RJE 8;W"$a`?-*&A@Zcq?WlFQiOYTk`fVE;jCTUk@3TS!FpZmZ'YXGd;S*(e(q2.&h6m\ _4UmCA),cX?g-I_q;+m>0L'Qm&blg1Im-jp\oE9kN&?3+dGbS2/F!fWj*#E_;"GR$QE+3?k%r;`9`hFmDb%Q3Q.G ',$Otl*]XbF8@!IZqD*A%(e0r"4BS7R6*b5QggRN^!0TJt=eN+i07jDQ0\ 8;VFic&UO:&AJ#jGbb[NYpA'SmBKAiTKb\lppTFBH4[VL=F^kjrt0^6*!G :3h^Wi8S`XNp0EV(J4dHDuqf?O2jFiSUJ)"'p/_-H59BD>0'?ks-F-rksB! a!l9d9B/Yk]#O]\Bn]kXrL\W?52b/L8,=0ZCn\SH&U$9cO What is inflation? 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