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Economists and psychotics are the only creatures who, when they and the universe do not agree, believe that it is not they who are wrong but the universe. More
by pishpash 9y ago
Economists and psychotics are the only creatures who, when they and the universe do not agree, believe that it is not they who are wrong but the universe.
More to the point, you may not want uncontrollable deflation just like you don't want uncontrollable inflation, those are system instabilities due to feedback. But a controlled deflation that responds to long-run demographics and economic reality is no problem. In fact, forcing the opposite is stupid.
- MaysonL 9y agoBut a controlled deflation that responds to long-run demographics and economic reality is no problem. Except for people with mortgages or student loans to pay.