Lyn Alden did a fantastic in-depth explanation of this [1]. Monetary devaluation is a part of it, but inflation and deflation can work together at the same time

Lyn Alden did a fantastic in-depth explanation of this [1]. Monetary devaluation is a part of it, but inflation and deflation can work together at the same time in interesting ways. [1] https://www.lynalden.com/great-depression/ https://www.lynalden.com/great-depression/