ABSTRACT
This chapter presents the overview of the book. It briefly states the outline, main themes, objectives, and history of the whole book. The chapter also introduces Friedman’s helicopter model, arguing that it is unrealistic. The changes in money supply do not impact cash balances of various business entities proportionately and at the same time. Quite the contrary, new money is introduced into the economy exclusively through selected channels, a method that leads to changes in income distribution and to reshuffling in the structure of relative prices and production. This causes money to not be neutral, even in the long term. The phenomenon is called the Cantillon effect (also known as the first-round effect) and it’s what the book is about.
