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Not OP, but they were bringing up a counterpoint to the "absolutely" destroys a nation. The counter example did not destroy the US, proving the original statem
by edmundsauto 6y ago
Not OP, but they were bringing up a counterpoint to the "absolutely" destroys a nation. The counter example did not destroy the US, proving the original statement false.
Your third point also sounds like story-telling, or fitting a story to the evidence. Does that mean it is the only possible explanation for what occurred? If not, how can we determine which explanation is correct?
- cortesoft 6y agoYeah, you are right... it is a vast oversimplification and is not the only possible explanation. I guess my point is that time period is clearly an outlier in a number of ways, which is why it is one of the only examples of high growth + deflation periods in history... it doesn't change the conclusion that you should aim for a small amount of inflation if you want economic growth. A single counter-example doesn't change the conclusion; just because we know there are people who have won huge jackpots in the lottery doesn't mean we stop suggesting saving money for retirement.