Synopsis
A Timeless Warning from History—When a Nation Prints Money Without Restraint
In Fiat Money Inflation in France, historian and economist Andrew Dickson White delivers a sobering, sharply detailed analysis of France’s catastrophic paper money experiment during the late 18th century. Far more than a simple retelling of financial mismanagement, this powerful historical account is a study in human nature, political pressure, and economic denial.
As revolutionary France teetered on the edge of collapse, the government resorted to issuing massive amounts of unbacked assignats (paper currency) to pay debts and fuel spending. The results were predictable—and disastrous. Through skyrocketing inflation, social unrest, and economic ruin, White vividly portrays how well-intentioned leaders and desperate citizens justified each new round of printing, ignoring the economic laws and historical lessons screaming for restraint.
Originally written to warn the U.S. Congress against the unchecked printing of fiat money, White’s work remains urgently relevant in today’s world of quantitative easing, mounting debt, and monetary experimentation. This is more than a history lesson—it is a case study in the dangers of ignoring fiscal discipline and a cautionary tale for modern economies.
“History does not repeat itself, but it often rhymes.” – Mark Twain
If you're interested in economics, monetary policy, or political history, Fiat Money Inflation in France is essential reading that may change the way you view current events.
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À propos de l?auteur
Andrew Dickson White (1832-1918) was a U. S. diplomat, author, and educator, best known as the co-founder of Cornell University. In 1865 he became Cornell's first president and also served as a professor in the Department of History. After 14 years at Cornell, White took leave to serve as Commissioner to Santo Domingo (1871), the first U. S. Minister to Germany (1879-1881), and first president of the American Historical Association (1884-1886). He also served as President of the American delegation to The Hague Peace Conference (1899) and as the first U. S. Ambassador to Germany (1897-1902). In 1869 White gave a lecture on "The Battle-Fields of Science". Over the next 30 years he refined his analysis, expanding his case studies to include nearly every field of science over the entire history of Christianity. The final result was the two-volume History of the Warfare of Science with Theology in Christendom (1896) which became an extremely influential text on the relationship between religion and science. His other works include: Fiat Money Inflation in France (1896) and Autobiography of Andrew Dickson White (2 volumes) (1905).
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