Central Bank Stimulus Is Ancient Recipe for Trouble

Central bankers would do well to learn lessons about monetary stimulus from history -- ancient history.

The practice of governments boosting the amount of money in circulation to spur economic growth isn’t as unconventional as one might think, according to Kabir Sehgal’s new book, “Coined: The Rich Life of Money and How Its History Has Shaped Us.” In it, the 32-year-old former equities salesman at JPMorgan Chase & Co. looks at the economics, history and psychology of currencies and the role they play in life.