How Long to Read The Big Problem of Small Change

How Long Does it Take to Read The Big Problem of Small Change?

It takes the average reader 7 hours and 24 minutes to read The Big Problem of Small Change by Thomas J. Sargent

Assuming a reading speed of 250 words per minute. Learn more

Description

The Big Problem of Small Change offers the first credible and analytically sound explanation of how a problem that dogged monetary authorities for hundreds of years was finally solved. Two leading economists, Thomas Sargent and François Velde, examine the evolution of Western European economies through the lens of one of the classic problems of monetary history--the recurring scarcity and depreciation of small change. Through penetrating and clearly worded analysis, they tell the story of how monetary technologies, doctrines, and practices evolved from 1300 to 1850; of how the "standard formula" was devised to address an age-old dilemma without causing inflation. One big problem had long plagued commodity money (that is, money literally worth its weight in gold): governments were hard-pressed to provide a steady supply of small change because of its high costs of production. The ensuing shortages hampered trade and, paradoxically, resulted in inflation and depreciation of small change. After centuries of technological progress that limited counterfeiting, in the nineteenth century governments replaced the small change in use until then with fiat money (money not literally equal to the value claimed for it)--ensuring a secure flow of small change. But this was not all. By solving this problem, suggest Sargent and Velde, modern European states laid the intellectual and practical basis for the diverse forms of money that make the world go round today. This keenly argued, richly imaginative, and attractively illustrated study presents a comprehensive history and theory of small change. The authors skillfully convey the intuition that underlies their rigorous analysis. All those intrigued by monetary history will recognize this book for the standard that it is.

How long is The Big Problem of Small Change?

The Big Problem of Small Change by Thomas J. Sargent is 429 pages long, and a total of 111,111 words.

This makes it 145% the length of the average book. It also has 136% more words than the average book.

How Long Does it Take to Read The Big Problem of Small Change Aloud?

The average oral reading speed is 183 words per minute. This means it takes 10 hours and 7 minutes to read The Big Problem of Small Change aloud.

What Reading Level is The Big Problem of Small Change?

The Big Problem of Small Change is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy The Big Problem of Small Change?

The Big Problem of Small Change by Thomas J. Sargent is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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