PETER L. BERNSTEIN is founder and President of Peter L. Bernstein, Inc., established in 1973 as publishers of Economics & Portfolio Strategy and consultants to institutional investors around the world. He is also the author of ten books, including three recent volumes from Wiley—Against the Gods: The Remarkable Story of Risk, The Power of Gold: The History of an Obsession, and Capital Ideas Evolving.
Foreword by Paul A. Volcker.
Part One: The Money Problem.
Chapter 1: Why Worry about Money and Gold?
Chapter 2: Spending and Financing.
Chapter 3: The Price of Money.
Part Two: The Creation of Money.
Chapter 4: Money in Hand and Money in the Bank.
Chapter 5: The Business of Banking.
Chapter 6: Bank Credit and Money.
Part Three: The Control of Money.
Chapter 7: The Federal Reserve System.
Chapter 8: Federal Reserve Tools of Control.
Chapter 9: Reserve Requirements.
Chapter 10: Currency: A Complication.
Part Four: Gold.
Chapter 11: Gold at Home.
Chapter 12: Gold Abroad.
Part Five: Theory in Practice.
Chapter 13: The Experience of 1938 to 1945.
Chapter 14: The Experience of 1945 to 1963.
Chapter 15: The Experience of 1966.
Conclusion: Money and Gold in the Future.
Appendix: Reading the Weekly Federal Reserve Statement.