Jeff Glor talks to Richard Duncan about, "The New Depression: The Breakdown of the Paper Money Economy"
Jeff Glor: What inspired you to write the book?
Richard Duncan: I was inspired when I read Irving Fisher's "The Purchasing Power of Money" (1912) which discusses The Quantity Theory of Money.
JG: What surprised you the most during the writing process?
RD: This is my third book. It surprised me that it does not get any easier.
JG: What would you be doing if you weren't a writer?
RD: If I could do anything, I would be Treasury Secretary. Realistically, I would be a strategist in the investment industry. I would also like to be a professor.
JG: What else are you reading right now?
RD: Peter Watson's "The German Genius" and Caro's latest volume on President Johnson.
JG: What's next for you?
RD: More book promotion for this book. Then, more writing more books
MORE VIDEO:Economist Richard Duncan explains how going from a gold-based monetary system to paper-based system led to an explosion of credit over the last 40 years.
For more on "The Great New Depression," visit his website.