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Time to Panic? Understand Inflation with These 4 Books

Inflation rates are rising, but what’s causing it and what does that actually mean for you and your money? These 4 books explain it all.
by Vanessa Gibbs | May 19 2022
Inflation books

You may have seen the headlines: Inflation rates have risen to their highest in decades, and experts are saying they could keep on going, too. But what does that actually mean for you? Essentially, goods and services will get more expensive and the purchasing power of your money will go down as the risk of a recession goes up.

Want to know what’s causing this and how to best manage your money? That’s where books about inflation can help. Expert economists have poured their wisdom into books, so the average person can learn about what’s happening to the economy and their money.

And to understand inflation fast, you can turn to Blinkist. Blinkist is an app that gathers powerful ideas from nonfiction books into 15-minute reads and listens. There are 5,000 books to explore across 27 categories including money & investments, leadership & management, and productivity. 

The bite-sized explainers not only make learning from books quick, they make complex topics — like inflation — easy to understand and digest. And 22 million users around the world agree. 

Here are four books, all available on the app, to help you understand inflation.


1. The Death of Money by James Rickards  

Lawyer, investor, and economist, James Rickards, dives into how the current global monetary system works — and why it won’t keep working for long. 

Rickards explains how the US government actually works to increase inflation, as that will help to eat away at its huge national debt. The book details how inflation is encouraged through injecting more money into the economy, and how this strategy may not be working. 

One piece of advice from Rickards? Don’t keep all of your savings in a bank account where the value could be wiped out by hyperinflation. Instead, diversify your assets across gold, property, hedge funds, fine art, and just keep 30% as cash in a bank.

The book also explains common economic jargon — like fiat money and quantitative easing — that’ll help you understand the topic more deeply. 


2. The Deficit Myth by Stephanie Kelton

The Deficit Myth explains what the Modern Monetary Theory is and why we shouldn’t compare how governments spend money to how the average family would spend it. Essentially, because the government actually issues money, it doesn’t have to play by the same rules as the rest of us with regards to trying to balance spending and earning.


“Once you internalize the difference between the currency issuer and a currency user, you can begin to see, through a new lens, why so much of our political discourse is broken.”
– Stephanie Kelton
When it comes to inflation, the book’s author — professor and former chief economist for the US Senate Budget Committee, Stephanie Kelton — explains what it is first. Next, you’ll learn why the idea that the government putting more money into circulation could cause it is not as straightforward as it seems. Plus, there’s an explanation for how this type of inflation can actually be controlled by governmental powers.


3. Second Chance by Robert T. Kiyosaki

You may know Robert T. Kiyosaki from Rich Dad, Poor Dad, but the businessman and personal finance guru has also written about the growing wealth gap in the US. 

Second Chance explains how exactly the rich are getting richer and the poor poorer. It also covers inflation from another angle. Kiyosaki explains how it causes people to put more of their money into savings, which only drives inflation rates even higher. 

He also dives into ways readers can free themselves from financial restraints and inflation worries by building their assets and using debt to their advantage.

“The moment a person begins to look for assets they can acquire or build, their world begins to change.”
– Robert T. Kiyosaki


4. Free to Choose by Milton Friedman

Milton Friedman — economist, statistician, and Nobel Prize winner — dives into how the government affects the economy and our money in Free to Choose.

The book explains how inflation acts as a hidden tax on individuals, as you have to pay more money for goods and services over time. It also explains the link between the amount of money in circulation and the rate of inflation — using the skyrocketing prices during the Civil War as an example — and how government regulations for certain industries actually drive prices up. 

There’s also a nod towards the cure for inflation — restricting the amount of money created by the government.


A Book Explained in 15 Minutes

As well as worrying about inflation, we’ve all got busy jobs and personal lives to keep up with. Blinkist makes it easy to learn from nonfiction books by sharing only the most important parts of a book in 15-minute explainers. 

These bite-sized explainers include key ideas, actionable advice, and interesting anecdotes, so you’ll walk away with everything you need to know about the book’s topic. 


Listen On the Go

You don’t even have to find 15 minutes to sit down to learn with Blinkist. Every explainer on the app is available in audio, so you can listen while working out, traveling to work, or walking the dog.


“When we started most apps were for social media or gaming. We wanted to do something different and build an app that would add genuine value to someone’s life”
– Holger Seim, CEO of Blinkist

Love audio? The app also shares the powerful ideas from leading podcasts with its bite-sized Shortcasts. 


Apple Thinks Blinkist is a Leading App 

As well as its 22 million users around the world, Blinkist can count Apple as one of its fans. The tech giant named Blinkist as one of the top 20 apps for lifelong learning and even the CEO, Tim Cook, is a fan. 

Plus, Blinkist is loved by the likes of The New York Times and Forbes, and has won awards from Google and the United Nations.


“With Blinkist you can boost your knowledge and gain new perspectives so that you can be a better professional, a better partner, or a better you.”
– The United Nations
Want to learn about other important topics the world is facing right now? We’ve covered the best books on cryptocurrency and the best books about Russia and Ukraine. Or download the Blinkist app to start learning today.
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