3 ms·
There’s no connection between falling prices and depression. At least that’s what Milton Friedman concluded in A Monetary History of the United States, even tho
by runeks 5y ago
There’s no connection between falling prices and depression. At least that’s what Milton Friedman concluded in A Monetary History of the United States, even though he initially assumed there would be.
- ProjectArcturis 5y agoWell, Friedman says inflation is driven by the money supply, which is partly true. But it's also true that a shrinking money supply is associated with both deflation and recession/depression.