3 ms·
This is flat out incorrect. There have been productivity driven deflations in the 1800s that have actually been net good for the average person. It's just that
by medvezhenok 3y ago
This is flat out incorrect. There have been productivity driven deflations in the 1800s that have actually been net good for the average person.
It's just that the most salient example of recent deflations (2008 and 1930) happened to coincide with massive crashes and problems; but that is a feedback of deflation + excessive leverage leading into the deflation - it's not something inherent in deflation itself.