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Since the end of World War II, the United States has experienced almost continuous inflation - the general rise in the price of goods and services. The costs of inflation are related to its rate, the uncertainty it engenders, whether it is anticipated, and the degree to which contracts and the tax system are indexed. A major cost is related to the inefficient utilisation of resources because economic agents mistake changes in nominal variables for changes in real variables and act accordingly. This book examines the causes, costs, and current status to the economy from inflation with a focus...

In 1841 U.S. government authorities sent Major Ethan Allen Hitchcock to Indian Territory to investigate numerous charges of fraud and profiteering by various contractors dealing with the Cherokee, Creek, Seminole, Chickasaw, and Choctaw Indians, who had been removed from the South during the last decade. Hitchcock's report, filed after four months of travel, exposed such a high level of graft and corruption that his investigation was suppressed and never brought to the attention of Congress. Hitchcock kept nine personal diaries of his travels and observations, however, and they reveal much...