Deflation: An Underlying Feature of a Healthy Economy
The author reverts the current mainstream discussion of deflation hampering economic growth. The author first revises the definition inflation that is often misinterpreted. He shows that deflation is a natural phenomenon that often follows periods of unsustainable asset-price bubbles. He also argues that by labeling economic policy as „anti-deflationary,“ many governmental policies lead to inflationary policies that destroy the wealth of individuals.
Volume (Year): 51 (2001)
Issue (Month): 10 (October)
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