Shock Values | Carola Binder

Shock Values: Prices and Inflation in American Democracy

Extended Synopsis

Many of the most foundational moments in American economic history—from the birth of paper money to the rise of the Federal Reserve—have been forged in the crucible of financial panic. In Shock Values: Prices and Inflation in American Democracy, Carola Binder provides a sweeping historical account of how the American state has consistently evolved to insulate the economy from the perceived threats of price instability.

Binder traces how government decisions made in moments of crisis have left lasting marks on the nation’s political structure. By recounting the intersection of interest-group politics, legal battles, and shifting economic theories, she reveals how the United States has been repeatedly reinvented in response to inflation and deflation. This is not merely a technical history of currency, but the story of how American democracy itself has been shaped by the ongoing struggle to control price fluctuations.

Reader Targeting

• Academic and policy-oriented readers interested in the history of monetary policy and political economy.
• Students and researchers of American economic history and democratic evolution.
• Individuals seeking context on how modern inflation debates are rooted in centuries of institutional crisis management.

About the Author

Carola Binder is an accomplished economist and scholar of monetary history. Her work focuses on the intersection of economic policy, historical institutional analysis, and the political dimensions of price stability.

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