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I think I have read somewhere that inflation in the end of the 17th - first half of 18th century was almost zero or there was even a deflation. I may be wrong.
by orkon 7y ago
I think I have read somewhere that inflation in the end of the 17th - first half of 18th century was almost zero or there was even a deflation. I may be wrong. Maybe someone has a good source?
- dtjohnnyb 7y agoThe book mentioned in the article, Capital in the 21st Century, shows this in really interesting detail. I can't remember the details myself, but the idea we have of inflation being normal is actually highly abnormal in the history of humanity. Can't recommend the book enough, really interesting to see how unique the last 100 years of high growth is compared to history due to the world wars and how we may be returning to "normal" levels of inequality.
- orkon 7y agoYes, it was from this book I believe. Also found this http://researchbriefings.files.parliament.uk/documents/RP03-82/RP03-82.pdf http://researchbriefings.files.parliament.uk/documents/RP03-... where it seems like retail prices where relatively stable at that time.
- TMWNN 7y agoI've read that from the early 1600s to World War I England had net zero inflation.