"Brigitte Granville has written a spirited and learned defense of how macroeconomic ideas can defeat inflation with sound monetary policy and inflation targeting. The success of these ideas is evident in persistently low inflationary expectations, which are now taken for granted. Yet Granville warns that monetary policy must not be overloaded because then its credibility may be undermined. Hers is a wonderfully and enlighteningly fresh look at inflation."--Anders Åslund, senior fellow, Peterson Institute for International Economics

"Granville recalls the inflation of the 1970s, which, she fears, is in danger of being forgotten in the wake of the recent financial crisis and the ongoing recession. She covers a wide swath of macroeconomics and takes in the causes of inflation, the relation between unemployment and inflation, the Phillips curve, the role of expectations, and much more. I don't know of any other book quite like this."--John Driffill, Birkbeck, University of London

"Granville has read almost everything and has a good eye for the central issues. I liked this book very much."--Thomas J. Sargent, Nobel Laureate in Economics