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Explore the inevitable collapse of the fiat monetary system Paper Money Collapse: The Folly of Elastic Money, Second Edition challenges the mainstream consensus on money and monetary policy. While it is today generally believed that the transition from 'hard' and inflexible commodity money (such as a gold standard) to entirely flexible and potentially unlimited fiat money under national central banks allows for superior economic stability, Paper Money Collapse shows that the opposite is true. Systems of highly elastic and constantly expanding money are not only unnecessary, even for growing economies, they are always extremely destabilizing. Over time, they must lead to substantial imbalances, including excessive levels of debt and distorted asset prices, that will require ever faster money production to sustain. Ultimately, however, there is no alternative to a complete liquidation of these distortions. Based on insights of many renowned economists and in particular of the Austrian School of Economics, the book explains through rigorous logic and in precise language why our system of flexible fiat money is incompatible with a market economy and therefore unsustainable. Paper money systems have always led to economic disintegration—without exception—throughout history. It will not be different for our system and we may be closer to the endgame than many think. The updated second edition incorporates: A new introduction and an extended outlook section that discusses various «endgames» Responses to criticisms, alternative views, and a critical assessment of 'solutions' Comments on recent policy trends, including attempts to exit the 'easy money' policy mode An evaluation of new crypto-currency Bitcoin Paper Money Collapse: The Folly of Elastic Money, Second Edition clarifies the problem of paper money clearly and eloquently, and proposes multiple routes to a solution.

The book provides the reader with the knowledge, tools, and methods to understand the phenomenon of hysteresis in porous materials. As many challenges have been met only recently, the book summarizes the research results usually found only scattered in the literature, connecting knowledge from traditionally separated research fields to provide a better understanding of the physical phenomena of coupled elastic-fluid systems. The result is an invaluable self-contained reference book for materials scientists, civil, mechanical and construction engineers concerned with development and maintenance of structures made of porous materials.

Elasticity in Engineering Mechanics has been prized by many aspiring and practicing engineers as an easy-to-navigate guide to an area of engineering science that is fundamental to aeronautical, civil, and mechanical engineering, and to other branches of engineering. With its focus not only on elasticity theory, including nano- and biomechanics, but also on concrete applications in real engineering situations, this acclaimed work is a core text in a spectrum of courses at both the undergraduate and graduate levels, and a superior reference for engineering professionals.

Introduces the latest developments and technologies in the area of nonlinear aeroelasticity Nonlinear aeroelasticity has become an increasingly popular research area in recent years. There have been many driving forces behind this development, increasingly flexible structures, nonlinear control laws, materials with nonlinear characteristics, etc. Introduction to Nonlinear Aeroelasticity covers the theoretical basics in nonlinear aeroelasticity and applies the theory to practical problems. As nonlinear aeroelasticity is a combined topic, necessitating expertise from different areas, the book introduces methodologies from a variety of disciplines such as nonlinear dynamics, bifurcation analysis, unsteady aerodynamics, non-smooth systems and others. The emphasis throughout is on the practical application of the theories and methods, so as to enable the reader to apply their newly acquired knowledge. Key features: Covers the major topics in nonlinear aeroelasticity, from the galloping of cables to supersonic panel flutter. Discusses nonlinear dynamics, bifurcation analysis, numerical continuation, unsteady aerodynamics and non-smooth systems. Considers the practical application of the theories and methods. Covers nonlinear dynamics, bifurcation analysis and numerical methods. Accompanied by a website hosting Matlab code. Introduction to Nonlinear Aeroelasticity is a comprehensive reference for researchers and workers in industry and is also a useful introduction to the subject for graduate and undergraduate students across engineering disciplines.

This is the first book on adaptive aeroservoelasticity and it presents the nonlinear and recursive techniques for adaptively controlling the uncertain aeroelastic dynamics Covers both linear and nonlinear control methods in a comprehensive manner Mathematical presentation of adaptive control concepts is rigorous Several novel applications of adaptive control presented here are not to be found in other literature on the topic Many realistic design examples are covered, ranging from adaptive flutter suppression of wings to the adaptive control of transonic limit-cycle oscillations